REGISTERED NUMBER:
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Galwad Y Mor Shellfish |
Bridlington Limited |
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Abbreviated Unaudited Accounts |
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For The Year Ended 31 December 2014 |
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REGISTERED NUMBER:
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Galwad Y Mor Shellfish |
Bridlington Limited |
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Abbreviated Unaudited Accounts |
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For The Year Ended 31 December 2014 |
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Galwad Y Mor Shellfish |
Bridlington Limited (Registered number: 04130969) |
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Contents of the Abbreviated Accounts |
For The Year Ended 31 December 2014 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Abbreviated Balance Sheet | 3 |
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Notes to the Abbreviated Accounts | 5 |
Galwad Y Mor Shellfish |
Bridlington Limited |
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Company Information |
For The Year Ended 31 December 2014 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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BANKERS: |
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Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Galwad Y Mor Shellfish |
Bridlington Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to seven) |
have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Galwad Y Mor Shellfish Bridlington Limited for the year ended 31 December 2014 which |
comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records |
and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of Galwad Y Mor Shellfish Bridlington Limited, as a body, in accordance with the terms of our engagement letter dated 27 April 2011. Our work has been undertaken solely to prepare for your approval the financial statements of Galwad Y Mor Shellfish Bridlington Limited and state those matters that we have agreed to state to the Board of Directors of Galwad Y Mor Shellfish Bridlington Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Galwad Y Mor Shellfish Bridlington Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Galwad Y Mor Shellfish Bridlington Limited. You consider that Galwad Y Mor Shellfish Bridlington Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Galwad Y Mor Shellfish |
Bridlington Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or |
information and explanations you have given to us and we do not, therefore, express any opinion on the statutory |
financial statements. |
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Chartered Accountants |
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25 September 2015 |
Galwad Y Mor Shellfish |
Bridlington Limited (Registered number: 04130969) |
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Abbreviated Balance Sheet |
31 December 2014 |
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2014 | 2013 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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Investments | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Galwad Y Mor Shellfish |
Bridlington Limited (Registered number: 04130969) |
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Abbreviated Balance Sheet - continued |
31 December 2014 |
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The financial statements were approved by the Board of Directors on
by: |
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Galwad Y Mor Shellfish |
Bridlington Limited (Registered number: 04130969) |
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Notes to the Abbreviated Accounts |
For The Year Ended 31 December 2014 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The directors have considered the impact of the United Kingdom recession on the company's trading and are |
confident that the company will continue to meet its day-to-day liabilities as they fall due and that the going |
concern basis is appropriate. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Intangible fixed assets |
Amortisation of a fishing licence, purchased by the company in 2002, is being provided on a straight line basis, |
over the remaining estimated useful life of 19 years. |
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Amortisation of a fishing licence purchased by the company in 2006 is being provided on a straight line basis |
over its estimated useful life of 20 years. |
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Tangible fixed assets |
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Assets in the course of construction | - |
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Improvements to leasehold property | - |
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Plant and machinery | - |
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Fishing boat | - |
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Motor vehicles | - |
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Computer equipment | - |
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The fishing vessel is depreciated based on the historical cost, less the estimated residual value over the useful |
economic live of the vessel of 10 years on a straight line basis. |
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Assets in the course of construction are not depreciated. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
Galwad Y Mor Shellfish |
Bridlington Limited (Registered number: 04130969) |
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Notes to the Abbreviated Accounts - continued |
For The Year Ended 31 December 2014 |
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2. | INTANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 January 2014 |
and 31 December 2014 |
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AMORTISATION |
At 1 January 2014 |
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Amortisation for year |
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At 31 December 2014 |
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NET BOOK VALUE |
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At 31 December 2014 |
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At 31 December 2013 |
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3. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 January 2014 |
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Additions |
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At 31 December 2014 |
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DEPRECIATION |
At 1 January 2014 |
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Charge for year |
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At 31 December 2014 |
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NET BOOK VALUE |
At 31 December 2014 |
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At 31 December 2013 |
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4. | FIXED ASSET INVESTMENTS |
Investments |
other |
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loans |
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COST |
At 1 January 2014 | 40,971 |
Additions | 17,933 |
At 31 December 2014 | 58,904 |
NET BOOK VALUE |
At 31 December 2014 |
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At 31 December 2013 |
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Galwad Y Mor Shellfish |
Bridlington Limited (Registered number: 04130969) |
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Notes to the Abbreviated Accounts - continued |
For The Year Ended 31 December 2014 |
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4. | FIXED ASSET INVESTMENTS - continued |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Associated company |
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Country of incorporation: Mauritania |
Nature of business:
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Class of shares: | holding |
Ordinary | 49.00 |
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TGSL Sarl is in a start up position and no financial statements have been prepared to date. |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2014 | 2013 |
value: | £ | £ |
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Ordinary | £1 |
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