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Capital Leases (Tables)

3 Months Ended

Mar. 31, 2017

Leases [Abstract]

Schedule Of Capital Lease Obligations

The capital lease is scheduled to expire in 2021 and includes a mandatory purchase obligation for the seller to repurchase the vessels, as well as a purchase option exercisable by Ardmore.

		As at
		Mar 31, 2017			Dec 31, 2016
Current portion of capital lease obligations			321,360			181,047
Current portion of deferred finance fees			(23,017)			(22,019)
Non-current portion of capital lease obligations			8,865,078			9,064,702
Non-current portion of deferred finance fees			(86,559)			(93,080)
Total capital lease obligations			9,076,862			9,130,650

Schedule Of Future Minimum Lease Payments for Capital Leases

The future minimum lease payments required under the capital lease as at March 31, 2017, were as follows:

		As at
		Mar 31, 2017
2017			825,000
2018			1,387,000
2019			1,387,000
2020			1,390,800
2021			7,602,800
Total minimum lease payments			12,592,600
Less amounts representing interest and deferred finance fees			(3,515,738)
Net minimum lease payments			9,076,862

Schedule of Capital Leased Assets

Assets recorded under capital leases consist of the following:

		As at
		Mar 31, 2017			Dec 31, 2016
Vessels, equipment and deferred drydock expenditure			26,141,845			26,125,274
Accumulated depreciation			(9,677,459)			(9,239,855)
			16,464,386			16,885,419

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- References

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- Definition

Tabular disclosure of long-lived, depreciable assets that are subject to a lease meeting the criteria for capitalization and are used in the normal conduct of business to produce goods and services. Examples may include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

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Tabular disclosure of the components of the investment in leveraged leases.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 30
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=25496975&loc=d3e45424-112738

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- Definition

Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

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