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AB's Fishing Ltd
Registered Number:07376563
For the year ended 31 December 2016
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2016
AB's Fishing Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 December 2016
AB's Fishing Ltd
Statement of Financial Position
Registered Number :
07376563
£
£
2015
2016
Notes
Fixed assets
Property, plant and equipment
-
59,759
2
-
59,759
Current assets
Inventories
10,000
-
-
10,000
Trade and other payables: amounts falling due within one
year
(133,707)
(64,958)
3
(123,707)
(64,958)
Net current liabilities
Total assets less current liabilities
(64,958)
(63,948)
(64,958)
Net liabilities
(63,948)
Capital and reserves
Called up share capital
100
100
Revaluation reserve
-
30,028
4
Retained earnings
(65,058)
(94,076)
(64,958)
(63,948)
Shareholders' funds
For the year ended 31 December 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006
The director acknowledges her responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Patricia Dyer Director
These financial statements were approved and authorised for issue by the Board on 20 September 2017 and were signed by:
The notes form part of these financial statements
1 of 3
4
For the year ended 31 December 2016
AB's Fishing Ltd
Notes to the Financial Statements
Statutory Information
AB's Fishing Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 07376563.
Registered address:
59 Rookery Way
Bristol
BS14 0DZ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and
the Companies Act 2006. The financial statements have been prepared under the historical costs convention
as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
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:
Plant and machinery
15% Reducing balance
25% Reducing balance
Motor vehicles
Inventories
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. Property, plant and equipment
Total
Motor vehicles
Plant and
machinery
£
£
£
Cost or
valuation
At 01 January 2016
87,276
4,255
83,021
(4,255)
(83,021)
Disposals
(87,276)
At 31 December 2016
-
-
-
Provision for depreciation and impairment
At 01 January 2016
27,517
3,246
24,271
(27,517)
(3,246)
(24,271)
On disposal
At 31 December 2016
-
-
-
At 31 December 2016
Net book value
-
-
-
At 31 December 2015
58,750
1,009
59,759
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5
For the year ended 31 December 2016
AB's Fishing Ltd
Notes to the Financial Statements Continued
3. Trade and other payables: amounts falling due within one year
2015
2016
£
£
Other creditors
64,958
133,707
4. Reserves
Total
£
Revaluation reserve at 01 January 2016
30,028
Transfer to profit and loss account
(30,028)
-
Revaluation reserve at 31 December 2016
5. Related party transactions
The company ceased trading on 1st January 2016 and transferred all stock, and fixed assets to the director's
partner at market value.
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