The Elephant Boatyard Limited |
For the year ended 31 October 2013
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 01159255
The Elephant Boatyard Limited
For the year ended 31 October 2013
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
Abbreviated Balance Sheet |
The Elephant Boatyard Limited
2013
2012
2
457,499
424,951
457,499
424,951
164,250
194,960
200,662
92,029
-
567
286,989
365,479
Creditors: amounts falling due within one year |
3
(400,084)
(348,457)
(34,605)
(61,468)
Net current liabilities
Total assets less current liabilities |
396,031
390,346
Creditors: amounts falling due after more than one year |
4
(10,719)
(8,400)
387,631
Net assets
379,627
1,000
5
1,000
386,631
378,627
387,631
379,627
Shareholders funds
For the year ended 31 October 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, |
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts |
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
Date approved by the board: 19 February 2014 |
T L C Richardson Director |
Signed on behalf of the board of directors |
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Notes to the Abbreviated Financial Statements |
The Elephant Boatyard Limited
For the year ended 31 October 2013
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges |
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Research and development expenditure |
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Land and Buildings
Plant and Machinery
Motor Vehicles
Fixtures and Fittings
Assets on finance lease and hire purchase |
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
and depreciated over the shorter of the lease term and their estimated expected useful lives. |
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
2 of 3
Notes to the Abbreviated Financial Statements |
The Elephant Boatyard Limited
For the year ended 31 October 2013
634,054
59,615
693,669
209,103
27,067
Charge for year
236,170
457,499
424,951
2013
3 Creditors: amounts falling due within one year |
2012
169,442
207,072
Bank loans and overdrafts (secured)
2012
2013
4 Creditors due after more than one year |
-
2,319
Bank loans and overdrafts (secured)
5,000 Ordinary Share Class 1 shares of £1.00 each |
Allotted called up and fully paid |
2013
2012
1,000 Ordinary Share Class 1 shares of £1.00 each |
1,000
1,000
1,000
1,000
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