Registered number: 05918594 | ||||||||
|
||||||||
|
||||||||
|
||||||||
|
||||||||
FOR THE YEAR ENDED 28 FEBRUARY 2017 | ||||||||
|
||||||||
Prepared By: | ||||||||
Pritchard & Co | ||||||||
Chartered Certified Accountants | ||||||||
Ffynnonddofn | ||||||||
74 High Street | ||||||||
Fishguard | ||||||||
Pembrokeshire | ||||||||
SA65 9AU |
|
||||||||
Adventure Powerboats Limited | ||||||||
|
FINANCIAL STATEMENTS | ||||||||
FOR THE YEAR ENDED 28 FEBRUARY 2017 | ||||||||
DIRECTORS | ||||||||
|
||||||||
SECRETARY | ||||||||
Mrs A J Barber | ||||||||
REGISTERED OFFICE | ||||||||
Corner House | ||||||||
High Street | ||||||||
St Dogmaels | ||||||||
Ceredigion | ||||||||
SA43 3EQ | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 05918594 | ||||||||
ACCOUNTANTS | ||||||||
Pritchard & Co | ||||||||
Chartered Certified Accountants | ||||||||
Ffynnonddofn | ||||||||
74 High Street | ||||||||
Fishguard | ||||||||
Pembrokeshire | ||||||||
SA65 9AU |
|
||||||||
Adventure Powerboats Limited | ||||||||
|
FINANCIAL STATEMENTS | ||||||||
FOR THE YEAR ENDED 28 FEBRUARY 2017 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
|
||||||||
Adventure Powerboats Limited | ||||||||
|
BALANCE SHEET AT
|
||||||||||
2017 | 2016 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 |
|
|
|||||||
CURRENT ASSETS | ||||||||||
Debtors | 3 | 11,506 | 17,196 | |||||||
Cash at bank and in hand |
|
|
||||||||
64,246 | 74,727 | |||||||||
CREDITORS: Amounts falling due within one year | 4 | 39,355 | 71,605 | |||||||
NET CURRENT ASSETS | 24,891 | 3,122 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | 173,258 | 91,472 | ||||||||
CREDITORS: Amounts falling due after more than one year | 5 | 10,469 | 5,720 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 7 | - | 13,710 | |||||||
NET ASSETS | 162,789 | 72,042 | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 | 2 | 2 | |||||||
Profit and loss account | 162,787 | 72,040 | ||||||||
SHAREHOLDERS' FUNDS |
|
72,042 | ||||||||
|
||||||||||
|
||||||||||
|
||||||||||
|
||||||||||
Approved by the board on
|
||||||||||
............................. | ||||||||||
|
||||||||||
Director | ||||||||||
|
||||||||
Adventure Powerboats Limited | ||||||||
|
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 28 FEBRUARY 2017 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
|
||||||||
Plant and Machinery | straight line 10% | |||||||
Commercial Vehicles | reducing balance 25% |
1c. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
1d. Leases | ||||||||
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term. |
|
||||||||
Adventure Powerboats Limited | ||||||||
|
2. TANGIBLE FIXED ASSETS | ||||||
Plant and | Commercial | |||||
Machinery | Vehicles | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 29 February 2016 | 129,255 | 12,917 | 142,172 | |||
Additions | 70,991 | - | 70,991 | |||
Disposals | (45,765) | - | (45,765) | |||
At 28 February 2017 | 154,481 | 12,917 | 167,398 | |||
Depreciation | ||||||
At 29 February 2016 | 48,171 | 5,651 | 53,822 | |||
Disposals | (43,213) | - | (43,213) | |||
For the year | 6,606 | 1,816 | 8,422 | |||
At 28 February 2017 | 11,564 | 7,467 | 19,031 | |||
Net Book Amounts | ||||||
At 28 February 2017 |
|
|
|
|||
At 28 February 2016 |
|
|
|
|||
3. DEBTORS | 2017 | 2016 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | - | 10,472 | ||||||
VAT | 7,492 | 4,263 | ||||||
Prepayments | 3,830 | 2,461 | ||||||
Directors current account | 184 | - | ||||||
|
|
|||||||
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2017 | 2016 | |||||||
£ | £ | |||||||
UK corporation tax | 2,919 | 3,517 | ||||||
Directors current account | - | 70 | ||||||
Bank loans and overdrafts | 118 | - | ||||||
Bank Loan | 2,404 | 6,665 | ||||||
Credit card | 2,455 | 602 | ||||||
Trade creditors | 29,519 | 55,031 | ||||||
Accruals | 950 | 3,325 | ||||||
Grants | 990 | 2,395 | ||||||
39,355 | 71,605 | |||||||
|
||||||||
Adventure Powerboats Limited | ||||||||
|
5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2017 | 2016 | |||||||
£ | £ | |||||||
Bank loans (secured) >1yr | 6,179 | 440 | ||||||
Grants >1yr | 4,290 | 5,280 | ||||||
10,469 | 5,720 | |||||||
6. EMPLOYEES | ||||||
2017 | 2016 | |||||
No. | No. | |||||
Average number of employees | 4 | 3 | ||||
7. PROVISIONS FOR LIABILITIES | 2017 | 2016 | ||||||
£ | £ | |||||||
Deferred taxation | - | 13,710 | ||||||
- | 13,710 | |||||||
8. SHARE CAPITAL | 2017 | 2016 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
|
2 | 2 | ||||||
2 | 2 | |||||||
9. CONTROLLING PARTY | ||||||||
The company is controlled by Mr & Mrs A. Barber by virtue of their 100% shareholding. | ||||||||