Company Registration No. 04320344 (England and Wales)
GOACHER SAILS LIMITED
ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2015
GOACHER SAILS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
GOACHER SAILS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2015
30 November 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
1
1
Tangible assets
2
25,458
30,456
25,459
30,457
Current assets
Stocks
72,451
82,295
Debtors
49,590
45,387
Cash at bank and in hand
124,142
179,930
246,183
307,612
Creditors: amounts falling due within one year
(87,418)
(95,867)
Net current assets
158,765
211,745
Total assets less current liabilities
184,224
242,202
Provisions for liabilities
(5,091)
(6,092)
179,133
236,110
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
179,033
236,010
Shareholders' funds
179,133
236,110
GOACHER SAILS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2015
30 November 2015
- 2 -
For the financial year ended 30 November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 27 June 2016
Stephen Goacher
Director
Company Registration No. 04320344
GOACHER SAILS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Patents
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.
1.6
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Sailing boats and trailers
10% straight line
Sewing machines
10% straight line
Fixtures, fittings & equipment
10%-25% straight line
Motor vehicles
20% straight line
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
GOACHER SAILS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 December 2014 & at 30 November 2015
36,592
120,371
156,963
Depreciation
At 1 December 2014
36,591
89,915
126,506
Charge for the year
-
4,998
4,998
At 30 November 2015
36,591
94,913
131,504
Net book value
At 30 November 2015
1
25,458
25,459
At 30 November 2014
1
30,456
30,457
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100