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Unaudited Financial Statements for the Year Ended 31 August 2018 |
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Britannia Ahoy Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 August 2018 |
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for |
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Britannia Ahoy Ltd |
Britannia Ahoy Ltd (Registered number: 08803943) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2018 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Britannia Ahoy Ltd |
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Company Information |
for the Year Ended 31 August 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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5 Westbrook Court |
Sharrowvale Road |
Sheffield |
South Yorkshire |
S11 8YZ |
Britannia Ahoy Ltd (Registered number: 08803943) |
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Statement of Financial Position |
31 August 2018 |
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2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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CURRENT ASSETS |
Inventories | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
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. |
Britannia Ahoy Ltd (Registered number: 08803943) |
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Statement of Financial Position - continued |
31 August 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Britannia Ahoy Ltd (Registered number: 08803943) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2018 |
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1. | STATUTORY INFORMATION |
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Britannia Ahoy Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis due to the continued financial support of |
the director. |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Inventories 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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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Britannia Ahoy Ltd (Registered number: 08803943) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 September 2017 |
and 31 August 2018 |
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AMORTISATION |
Charge for year |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2017 |
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Disposals | ( |
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At 31 August 2018 |
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DEPRECIATION |
At 1 September 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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Britannia Ahoy Ltd (Registered number: 08803943) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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6. | INVENTORIES |
2018 | 2017 |
£ | £ |
Stocks |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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VAT |
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Prepayments and accrued income |
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Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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VAT | 16,779 | - |
Other creditors |
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Directors' current accounts | 50,883 | 10,883 |
Accrued expenses |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
Britannia Ahoy Ltd (Registered number: 08803943) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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10. | RELATED PARTY DISCLOSURES |
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The company has entered into transactions with related parties as follows; |
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Britannia Events UK Ltd is a company under the common control of the directors and shareholders. |
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Management charges of £NIL (2017: £13,800) were made to Britannia Events UK Ltd, and a balance of £NIL |
(2017: £56,949) was written off during the year. As at 31st August 2018 £259 (2017: £NIL) was owed by |
Britannia Events UK Ltd. |
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Digital Exchange Ltd is is a company under the common control of the directors and shareholders. |
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During the year the company made purchases totalling £8,492 (2017: £11,388) from Digital Exchange Ltd. As |
at 31 August 2018 £NIL (2017: £1,920) was owed to Digital Exchange Ltd. |
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93ft Ltd is a company under the common control of director TR Hubbard. |
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During the year the company made purchases totalling £42,322 (2017:£62,779) from 93ft Ltd. As at 31st |
August 2018 £36,382 (2017: £951) was owed to 93ft Ltd. |
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Digital 2000 Ltd is a company under the control of director N Cotton's immediate family. |
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During the year the company made purchases totalling £NIL(2017: £335) from Digital 2000 Ltd. As at 31st |
August 2018 £Nil (2017: £NIL) was owed to Digital 2000 Ltd. |
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Vintage Bici Events Ltd s is a company under the common control of the directors and shareholders. |
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As at 31 August 2018 £Nil (2017: £NIL) was owed by Vintage Bici Events Ltd to the company. Management |
charges of £NIL (2017: £1,235) were made to Britannia Ahoy Ltd, and a balance of £NIL (2017: £40,273) was |
written off during the year. |
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Victoria Cotton |
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During the year £42,000 (2017: £58,000) was paid to Victoria Cotton, wife of Mr N Cotton, who is both a |
director and shareholder, for services provided to the company during the year. |
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11. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Mr TR Hubbard. |