Registration number:
Boleyn Containers Leasing Services Ltd
for the Year Ended 31 December 2016
12 Tentercroft Street
Lincoln
LN5 7DB
Boleyn Containers Leasing Services Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Boleyn Containers Leasing Services Ltd
Company Information
Directors |
Mr D K Moon Mr R McDuffie |
Company secretary |
Mr D K Moon |
Registered office |
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Accountants |
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Page 1 |
Boleyn Containers Leasing Services Ltd
(Registration number: 09391581)
Balance Sheet as at 31 December 2016
Note |
2016 |
2015 |
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Fixed assets |
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Investments |
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Creditors: Amounts falling due within one year |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr D K Moon
Director
Page 2 |
Boleyn Containers Leasing Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
General information |
The company is a private company limited by share capital incorporated in England, United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
These financial statements for the year ended 31 December 2016 are the first financial statements that comply with FRS 102 Section 1A. The date of transition is 1 January 2016. The transition to FRS 102 Section 1A has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes disclosed below.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Revenue recognition
Revenue represents the fair value of the consideration received or receivable for renting and leasing of containers, net of discounts and sales taxes.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Finance income and costs policy
Dividends are accounted for on a received basis.
Page 3 |
Boleyn Containers Leasing Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 4 |
Boleyn Containers Leasing Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Financial instruments
Classification
Investments |
2016 |
2015 |
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Investments in subsidiaries |
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Subsidiaries |
US$ |
Cost or valuation |
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At 1 January 2016 |
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Provision |
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Carrying amount |
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At 31 December 2016 |
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At 31 December 2015 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2016 |
2015 |
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Subsidiary undertakings |
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The Old Farm Office, Peper Harow Park, Godalming, Surrey, GU8 6BQ |
Ordinary |
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United Kingdom |
The principal activity of Tankspan Leasing Limited is |
The profit for the financial period of Tankspan Leasing Limited was US$567,834 and the aggregate amount of capital and reserves at the end of the period was US$1,249,001. |
Page 5 |
Boleyn Containers Leasing Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Debtors |
2016 |
2015 |
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Total current trade and other debtors |
- |
- |
Creditors |
Note |
2016 |
2015 |
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Due within one year |
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Bank loans and overdrafts |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2016 |
2015 |
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Non-current loans and borrowings |
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Other borrowings |
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2016 |
2015 |
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Current loans and borrowings |
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Other borrowings |
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Other borrowings
Other borrowings with a carrying amount of US$300,000 (2015 - US$400,000) is denominated in $ with a nominal interest rate of 3.55%. The final instalment is due on 31 December 2019.
Page 6 |
Boleyn Containers Leasing Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Related party transactions |
Summary of transactions with other related parties
A business in which Mr R McDuffie is involved.
Loans from related parties
2016 |
Other related parties |
At start of period |
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Transition to FRS 102 |
Balance Sheet at 15 January 2015
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
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Capital and reserves |
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Total equity |
- |
- |
- |
- |
Page 7 |
Boleyn Containers Leasing Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Balance Sheet at 31 December 2015
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
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Fixed assets |
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Investments |
2,026,855 |
- |
- |
2,026,855 |
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Creditors: Amounts falling due within one year |
(1,431,900) |
- |
- |
(1,431,900) |
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Total assets less current liabilities |
594,955 |
- |
- |
594,955 |
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Creditors: Amounts falling due after more than one year |
(300,000) |
- |
- |
(300,000) |
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Net assets |
294,955 |
- |
- |
294,955 |
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Capital and reserves |
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Called up share capital |
152 |
- |
- |
152 |
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Profit and loss account |
294,803 |
- |
- |
294,803 |
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Total equity |
294,955 |
- |
- |
294,955 |
Page 8 |