Company Registration No. 7522152 (England and Wales)
BANCROFT CRUISERS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
BANCROFT CRUISERS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
BANCROFT CRUISERS LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
56,503
61,034
Current assets
Stocks
1,500
1,500
Debtors
12,056
34,038
13,556
35,538
Creditors: amounts falling due within one year
(58,943)
(31,296)
Net current liabilities/(assets)
(45,387)
4,242
Total assets less current liabilities
11,116
65,276
Creditors: amounts falling due after more than one year
(33,217)
(52,093)
Provisions for liabilities
(5,435)
-
(27,536)
13,183
Capital and reserves
Called up share capital
3
5,000
5,000
Profit and loss account
(32,536)
8,183
Shareholders' funds
(27,536)
13,183
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 8 June 2017
Miss Fiona Rae
Director
Company Registration No. 7522152
BANCROFT CRUISERS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The accounts have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The director considers this basis to be appropriate as she is taking steps to trade profitably and continue to meet debts as they fall due.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
5% on cost
Computer equipment
25% on cost
Fixtures, fittings & equipment
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
82,327
Depreciation
At 1 April 2015
21,293
Charge for the year
4,531
At 31 March 2016
25,824
Net book value
At 31 March 2016
56,503
At 31 March 2015
61,034
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
5,000 Ordinary of £1 each
5,000
5,000