Company Registration No. 07174581 (England and Wales)
THE RED HOUSE AT KNIPTON LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
THE RED HOUSE AT KNIPTON LTD
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
THE RED HOUSE AT KNIPTON LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE RED HOUSE AT KNIPTON LTD FOR THE YEAR ENDED 31 OCTOBER 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Red House at Knipton Ltd for the year ended 31 October 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of The Red House at Knipton Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Red House at Knipton Ltd and state those matters that we have agreed to state to the Board of Directors of The Red House at Knipton Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Red House at Knipton Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that The Red House at Knipton Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Red House at Knipton Ltd. You consider that The Red House at Knipton Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Red House at Knipton Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Baldwins (Nottingham) Limited
31 July 2017
Accountants
370-374 Nottingham Road
Newthorpe
Nottinghamshire
NG16 2ED
THE RED HOUSE AT KNIPTON LTD
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
1,372
1,829
Tangible assets
2
10,640
14,188
12,012
16,017
Current assets
Stocks
10,864
12,076
Debtors
52,501
57,070
Cash at bank and in hand
16,442
-
79,807
69,146
Creditors: amounts falling due within one year
(134,029)
(150,469)
Net current liabilities
(54,222)
(81,323)
Total assets less current liabilities
(42,210)
(65,306)
Creditors: amounts falling due after more than one year
-
(3,810)
(42,210)
(69,116)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(42,310)
(69,216)
Shareholders' funds
(42,210)
(69,116)
THE RED HOUSE AT KNIPTON LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2016
31 October 2016
- 3 -
For the financial year ended 31 October 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 31 July 2017
Mr K Bartsch
Director
Company Registration No. 07174581
THE RED HOUSE AT KNIPTON LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 4 -
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 of 10 years .
of 10 years
.
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:
Fixtures, fittings & equipment
25% reducing balance
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
The company is reliant upon the continuing support of the creditors including the brewery.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 November 2015 & at 31 October 2016
4,571
54,222
58,793
Depreciation
At 1 November 2015
2,742
40,034
42,776
Charge for the year
457
3,548
4,005
At 31 October 2016
3,199
43,582
46,781
Net book value
At 31 October 2016
1,372
10,640
12,012
At 31 October 2015
1,829
14,188
16,017
THE RED HOUSE AT KNIPTON LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 5 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
Transactions with directors
Included in other debtors at the year end are amounts owing to the company from the directors Mr K & Mrs S Bartsch of £10,642 (2015: £1,764 CR) and Mr G Bartsch of £7,151 (2015: £5,519). These loans are unsecured, interest free and repayable on demand.
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