FOUR WINDS RESORTS LIMITED
|
Registered number: |
04955835
|
Balance Sheet |
as at 31 December 2016
|
|
Notes |
|
|
2016 |
|
|
2015 |
£ |
£ |
Fixed assets |
Investments |
2 |
|
|
1 |
|
|
1 |
|
Current assets |
Debtors |
3 |
|
93,224 |
|
|
89,213 |
Cash at bank and in hand |
|
|
104,955 |
|
|
189,486 |
|
|
|
198,179 |
|
|
278,699 |
|
Creditors: amounts falling due within one year |
4 |
|
(660,872) |
|
|
(677,966) |
|
Net current liabilities |
|
|
|
(462,693) |
|
|
(399,267) |
|
Net liabilities |
|
|
|
(462,692) |
|
|
(399,266) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
3,933,700 |
|
|
3,933,700 |
Profit and loss account |
|
|
|
(4,396,392) |
|
|
(4,332,966) |
|
Shareholders' funds |
|
|
|
(462,692) |
|
|
(399,266) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
|
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
|
|
NICHOLAS DICKINSON |
Director |
Approved by the board on 24 September 2017
|
|
FOUR WINDS RESORTS LIMITED
|
Notes to the Accounts |
for the year ended 31 December 2016
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
Turnover |
|
Turnover is the total amount receivable by the company in the ordinary course of business in respect of resort development, project management and other services, excluding VAT.
|
|
|
Going Concern |
|
The accounts have been prepared on a going concern basis which assumes that the shareholders will continue to provide financial support to the company for the foreseeable future as required
|
|
|
Investments |
|
Investments in joint ventures are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
|
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
|
|
|
2 |
Investments |
Joint |
Ventures : |
Equity & Loans |
£ |
|
Impaired Cost |
|
At 1 January 2016 |
1 |
|
|
At 31 December 2016 |
1 |
|
|
The company has a 50% interest in Boa Vista Holding Ltd, a resort developing holding company incorporated in Switzerland. |
|
|
Inherently there can be no certainty on the outcome for the project operated by the joint venture and the company is in dispute with the joint venture partner. Full provision has been made against the company's interest in the joint venture and legal action is being taken in order to recover the value to which the company is entitled. |
|
3 |
Debtors |
2016 |
|
2015 |
£ |
£ |
|
|
Other debtors |
93,224 |
|
89,213 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
£ |
£ |
|
|
Retained loans & accrued interest |
518,400 |
|
489,600 |
|
Trade creditors |
16,454 |
|
4,754 |
|
Other taxes and social security costs |
95,651 |
|
95,263 |
|
Accruals |
30,367 |
|
88,349 |
|
|
|
|
|
|
660,872 |
|
677,966 |
|
|
|
|
|
|
|
|
|
|
5 |
Other information |
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FOUR WINDS RESORTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
46 Warwick Road |
|
Bishop's Stortford |
|
Hertfordshire |
|
CM23 5NW |