Company Registration No. 07787880 (England and Wales)
KELD LODGE HOTEL LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
KELD LODGE HOTEL LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
KELD LODGE HOTEL LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
139,609
148,568
Tangible assets
2
36,479
45,273
176,088
193,841
Current assets
Stocks
7,981
8,246
Debtors
9,432
9,642
Cash at bank and in hand
19,465
15,199
36,878
33,087
Creditors: amounts falling due within one year
(53,194)
(39,221)
Net current liabilities
(16,316)
(6,134)
Total assets less current liabilities
159,772
187,707
Creditors: amounts falling due after more than one year
(248,298)
(266,779)
(88,526)
(79,072)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(88,626)
(79,172)
Shareholders' funds
(88,526)
(79,072)
KELD LODGE HOTEL LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
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.
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 10 August 2016
Mr Nicholas Glanvill
Mrs Karen Glanvill
Director
Director
Company Registration No. 07787880
KELD LODGE HOTEL LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
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).
Due to the continued financial support provided to the company by the directors, they consider it appropriate to prepare the accounts on a going concern basis, having considered a period of 12 months from approving the accounts.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life. The directors consider it appropriate to amortise goodwill on a 5% straight line basis.
1.5
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:
Plant and machinery
25% Reducing Balance
Computer equipment
25% Reducing balance
Fixtures, fittings & equipment
25% Reducing Balance
Motor vehicles
25% Reducing balance
KELD LODGE HOTEL LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
179,178
92,869
272,047
Additions
-
3,366
3,366
At 31 March 2016
179,178
96,235
275,413
Depreciation
At 1 April 2015
30,610
47,596
78,206
Charge for the year
8,959
12,160
21,119
At 31 March 2016
39,569
59,756
99,325
Net book value
At 31 March 2016
139,609
36,479
176,088
At 31 March 2015
148,568
45,273
193,841
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
4
Related party relationships and transactions
Directors loan
The directors have provided the company with working capital in the form of an interest free loan which is repayable on demand. This loan is presented within 'Creditors: amounts due after one year'. As at 31st March 2016 the balance of this loan amounted to £248,298 (2015: £266,779).
Other transactions with directors
The properties that the company operates from are owned equally by the directors. The rent paid during the year amounted to £48,000 (2015: £41,805) which was on a normal commercial basis and at market value.