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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
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Barbican Yachts Ltd |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
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FOR |
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Barbican Yachts Ltd |
Barbican Yachts Ltd (Registered number: 09891976) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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Barbican Yachts Ltd |
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COMPANY INFORMATION |
for the year ended 31 March 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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129 North Hill |
Plymouth |
Devon |
PL4 8JY |
Barbican Yachts Ltd (Registered number: 09891976) |
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BALANCE SHEET |
31 March 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
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Tangible assets | 5 |
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Current assets |
Debtors | 6 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 7 |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than
one year |
8 |
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Net assets |
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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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Barbican Yachts Ltd (Registered number: 09891976) |
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BALANCE SHEET - continued |
31 March 2018 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
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The financial statements were approved by the director on
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Barbican Yachts Ltd (Registered number: 09891976) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Barbican Yachts Limited is a private company, limited by shares, registered in England and |
Wales. The company's registered number, registered office and principal trading 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 |
These financial statements have been prepared in accordance with the provisions of Section |
1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard |
applicable in the UK and Republic of Ireland" and the Companies Act 2006, this has been |
adopted early as permitted. The financial statements have been prepared under the |
historical cost convention. |
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Turnover |
Turnover from brokerage services is recognised upon exchange of contracts by the buyer |
and seller, and at the point of delivery for all other goods and services. |
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Goodwill |
The director has assessed goodwill and has decided to carry this at cost to amortise it in |
future periods. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & |
Loss Account, 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 balance sheet 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 balance sheet 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. |
Barbican Yachts Ltd (Registered number: 09891976) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), |
less any impairment losses for bad and doubtful debts. Loans and other financial assets are |
initially recognised at transaction price including any transaction costs and subsequently |
measured at amortised cost determined using the effective interest method, less any |
impairment losses for bad and doubtful debts. |
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Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). |
Loans and other financial liabilities are initially recognised at transaction price net of any |
transaction costs and subsequently measured at amortised cost determined using the |
effective interest method. |
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Taxation |
A current tax liability is recognised for the tax payable on the taxable profit of the current and |
past periods. A current tax asset is recognised in respect of a tax loss that can be carried |
back to recover tax paid in a previous period. Unrelieved tax losses are recognised only to |
the extent that it is probable that they will be recovered against other future taxable profits. |
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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 |
Goodwill |
£ |
Cost |
At 1 April 2017 |
and 31 March 2018 |
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Net book value |
At 31 March 2018 |
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At 31 March 2017 |
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Barbican Yachts Ltd (Registered number: 09891976) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2018 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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Cost |
At 1 April 2017 |
and 31 March 2018 |
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Depreciation |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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Net book value |
At 31 March 2018 |
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At 31 March 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2018 | 2017 |
£ | £ |
Other creditors |
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Barbican Yachts Ltd (Registered number: 09891976) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2018 |
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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 |
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10. | RELATED PARTY TRANSACTIONS |
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At the balance sheet date, the shareholder and director, M Harkness was owed £68,750. |
Interest of £5,000 has been paid on this amount by the company. |
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11. | ULTIMATE CONTROLLING PARTY |
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The controlling party is M Harkness. |