Company Registration No. 04242850 (England and Wales)
BOWLING GREEN INN LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
BOWLING GREEN INN LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BOWLING GREEN INN LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BOWLING GREEN INN LIMITED
ABBREVIATED BALANCE SHEET
AS AT
28 FEBRUARY 2015
28 February 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
6,455
9,261
Current assets
Stocks
7,004
7,734
Debtors
2,346
2,007
Cash at bank and in hand
10,876
3,766
20,226
13,507
Creditors: amounts falling due within one year
(124,489)
(108,714)
Net current liabilities
(104,263)
(95,207)
Total assets less current liabilities
(97,808)
(85,946)
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss account
(98,808)
(86,946)
Shareholders' funds
(97,808)
(85,946)
For the financial year ended 28 February 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 4 November 2015
Mrs Sheila Griffiths-Jones
Director
Company Registration No. 04242850
BOWLING GREEN INN LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 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 April 2008).
The company meets its day to day working capital requirements through a loan from Westley Builders £
104,244
(201
4
: £
92,532
), a partnership in which the directors have an interest. Although the loan is repayable on demand, Westley Builders have agreed not to withdraw the loan to the detriment of other creditors.
The nature of the company's business is such that there can be considerable unpredictable variation in the timing of cash inflows. The directors have prepared projected cash flow information for the period ending 9 months from the date of their approval of these financial statements. On the basis of this cash flow information, the directors consider that the company will continue to operate within the facility currently agreed. The directors are not aware of any reason why the terms of this facility should be amended.
However, the margin of facilities over requirements is not large and, inherently there can be no certainty in relation to these matters. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the Westley Builders facility.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT, at the point at which the sale was achieved.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land 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:
B&B and cottage fixtures, fittings and equipment
20% straight line
Kitchen equipment
20% straight line
Fixtures, fittings & equipment
20% straight line
Pub and garden equipment
20% straight line
1.4
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
BOWLING GREEN INN LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 March 2014
63,133
Additions
792
At 28 February 2015
63,925
Depreciation
At 1 March 2014
53,872
Charge for the year
3,598
At 28 February 2015
57,470
Net book value
At 28 February 2015
6,455
At 28 February 2014
9,261
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000