REGISTERED NUMBER:
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WELSH ECO LODGES LTD |
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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30 DECEMBER 2021 |
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REGISTERED NUMBER:
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WELSH ECO LODGES LTD |
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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30 DECEMBER 2021 |
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WELSH ECO LODGES LTD (REGISTERED NUMBER: 08819942) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 DECEMBER 2021 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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WELSH ECO LODGES LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 DECEMBER 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Ground Floor |
Cardigan House |
Castle Court |
Swansea Enterprise Park |
Swansea |
SA7 9LA |
WELSH ECO LODGES LTD (REGISTERED NUMBER: 08819942) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 DECEMBER 2021 |
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The directors present their report with the financial statements of the company for the year ended 30 December 2021. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 31 December 2020 to the date of this report. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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WELSH ECO LODGES LTD (REGISTERED NUMBER: 08819942) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 30 DECEMBER 2021 |
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2021 | 2020 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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(8,196 | ) | (7,085 | ) |
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Other operating income |
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OPERATING PROFIT | 4 |
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Interest receivable and similar income |
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8,809 | 14,418 |
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Interest payable and similar expenses |
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PROFIT BEFORE TAXATION |
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Tax on profit | ( |
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PROFIT FOR THE FINANCIAL YEAR |
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WELSH ECO LODGES LTD (REGISTERED NUMBER: 08819942) |
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BALANCE SHEET |
30 DECEMBER 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS/(LIABILITIES) |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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WELSH ECO LODGES LTD (REGISTERED NUMBER: 08819942) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 DECEMBER 2021 |
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1. | STATUTORY INFORMATION |
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Welsh Eco Lodges Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
The company is currently reliant on the ongoing support of the directors, which they have confirmed for the foreseeable future. Also after reviewing the company's forecasts and projections, the directors have a reasonable expectation that, once the site is operational, the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
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Significant judgements and estimates |
The preparation of the financial statements in conformity with generally accepted accounting principles requires the directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results in the future could differ from these estimates. The directors are satisfied that there are no significant judgements or estimates in addition to those that management has made in the process of applying the Company's accounting policies. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Site | - |
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Chalets/Pods/Tents | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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The Site and Chalets will begin being depreciated once operational. |
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Government grants |
During the year the following government support was received during the ongoing pandemic |
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Grant received | £ |
Small business grant fund and retail, hospitality and leisure grant fund | 17,000 |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and |
Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised in the company's statement of financial position when the |
company becomes party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, |
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously |
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WELSH ECO LODGES LTD (REGISTERED NUMBER: 08819942) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 DECEMBER 2021 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Debtors |
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. |
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Cash at bank and in hand |
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
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Creditors and provisions |
Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2021 | 2020 |
£ | £ |
Depreciation - owned assets |
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WELSH ECO LODGES LTD (REGISTERED NUMBER: 08819942) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 DECEMBER 2021 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Site | Chalets/Pods/Tents | machinery |
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COST |
At 31 December 2020 |
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Additions |
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At 30 December 2021 |
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DEPRECIATION |
At 31 December 2020 |
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Charge for year |
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At 30 December 2021 |
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NET BOOK VALUE |
At 30 December 2021 |
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At 30 December 2020 |
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Motor | Computer |
vehicles | equipment | Totals |
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COST |
At 31 December 2020 |
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Additions |
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At 30 December 2021 |
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DEPRECIATION |
At 31 December 2020 |
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Charge for year |
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At 30 December 2021 |
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NET BOOK VALUE |
At 30 December 2021 |
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At 30 December 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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WELSH ECO LODGES LTD (REGISTERED NUMBER: 08819942) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 DECEMBER 2021 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2021 | 2020 |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 3,334 |
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9. | ULTIMATE CONTROLLING PARTY |
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The controlling party is D Tyson. |
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The ultimate controlling party is
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