THE STAR INN AT HAROME LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2016
COMPANY REGISTRATION NO. 04928257 (England and Wales)
THE STAR INN AT HAROME LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
THE STAR INN AT HAROME LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
5,000
10,000
Tangible assets
2
883,307
862,578
888,307
872,578
Current assets
Stocks
42,913
40,057
Debtors
109,398
31,786
Cash at bank and in hand
2,145
112,873
154,456
184,716
Creditors: amounts falling due within one year
(465,938)
(517,665)
Net current liabilities
(311,482)
(332,949)
Total assets less current liabilities
576,825
539,629
Creditors: amounts falling due after more than one year
3
(189,700)
(224,935)
Provisions for liabilities
-
(7,560)
387,125
307,134
Capital and reserves
Called up share capital
4
2
2
Profit and loss account
387,123
307,132
Shareholders' funds
387,125
307,134
THE STAR INN AT HAROME LIMITED
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.
Director's 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 director acknowledges his 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 14 December 2016
Mr A N Pern
Director
Company Registration No. 04928257
THE STAR INN AT HAROME LIMITED
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).
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.
1.5
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:
Freehold property
2% straight line
Leasehold property improvements
2% straight line
Plant machinery and computer equipment
15% reducing balance
Fixtures fittings and equipment
10% straight line and 15% reducing balance
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
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.
THE STAR INN AT HAROME LIMITED
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
100,000
1,326,110
1,426,110
Additions
-
69,498
69,498
At 31 March 2016
100,000
1,395,608
1,495,608
Depreciation
At 1 April 2015
90,000
463,531
553,531
Charge for the year
5,000
48,770
53,770
At 31 March 2016
95,000
512,301
607,301
Net book value
At 31 March 2016
5,000
883,307
888,307
At 31 March 2015
10,000
862,578
872,578
3
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
(113,367)
(91,726)
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 ordinary shares of £1 each
2
2
5
Related party relationships and transactions
Debtors include the following amount owed by the director.
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
A Pern
3.00
(7,907)
179,132
1,293
85,000
87,518
(7,907)
179,132
1,293
85,000
87,518