Company Registration No. 6700746 (England and Wales)
INN LINE CELLAR SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017
PAGES FOR FILING WITH REGISTRAR
INN LINE CELLAR SERVICES LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
INN LINE CELLAR SERVICES LTD
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2017
30 September 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Property, plant and equipment
2
15,030
18,507
Current assets
Trade and other receivables
3
33,131
24,037
Cash and cash equivalents
19,999
6,401
53,130
30,438
Current liabilities
4
(21,954)
(14,467)
Net current assets
31,176
15,971
Total assets less current liabilities
46,206
34,478
Equity
Called up share capital
5
100
100
Retained earnings
46,106
34,378
Total equity
46,206
34,478
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 27 June 2018
D Payne
Director
Company Registration No. 6700746
INN LINE CELLAR SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017
- 2 -
1
Accounting policies
Company information
Inn Line Cellar Services Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Thistledown House, 44 Careless Green, Wollescote, Stourbridge, West Midlands, DY9 8XE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Revenue
Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Property, plant and equipment
Property, plant and equipment
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% Reducing Balance
Fixtures, fittings & equipment
Motor vehicles
20% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
INN LINE CELLAR SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2017
- 3 -
2
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 October 2016
30,696
Additions
4,600
Disposals
(5,400)
At 30 September 2017
29,896
Depreciation and impairment
At 1 October 2016
12,189
Depreciation charged in the year
3,757
Eliminated in respect of disposals
(1,080)
At 30 September 2017
14,866
Carrying amount
At 30 September 2017
15,030
At 30 September 2016
18,507
3
Trade and other receivables
2017
2016
Amounts falling due within one year:
£
£
Trade receivables
33,131
24,037
4
Current liabilities
2017
2016
£
£
Corporation tax
9,920
4,527
Other taxation and social security
6,236
4,015
Other payables
5,798
5,925
21,954
14,467
INN LINE CELLAR SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2017
- 4 -
5
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
100
100