Malmesbury Hospitality Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03129533 (England and Wales)

Unaudited Financial Statements

for the Period 1 December 2016 to 31 May 2018

for

Malmesbury Hospitality Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr Q Tailford

Mrs E M Tailford

Mr S J Thornton

Mrs M G Wolstencroft

SECRETARY:

REGISTERED OFFICE:

Little Portion

Toadpit Lane

West Hill

Ottery St. Mary

Devon

EX11 1TR

REGISTERED NUMBER:

03129533 (England and Wales)

ACCOUNTANTS:

Duncan King FCA

2 MacNeice Drive

Barton Park

Marlborough

Wiltshire

SN8 1TR

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Malmesbury Hospitality Limited for the period ended 31 May 2018

which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from

the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Malmesbury Hospitality Limited, as a body, in accordance with the terms of our engagement letter dated 27 September 2007. Our work has been undertaken solely to prepare for your approval the financial statements of Malmesbury Hospitality Limited and state those matters that we have agreed to state to the Board of Directors of Malmesbury Hospitality Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Malmesbury Hospitality Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Malmesbury Hospitality Limited 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 loss of Malmesbury Hospitality Limited. You consider that Malmesbury Hospitality Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Malmesbury Hospitality Limited. 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.

Duncan King FCA

2 MacNeice Drive

Barton Park

Marlborough

Wiltshire

SN8 1TR

16 February 2019

FIXED ASSETS

Intangible assets

4

12,215

-

Tangible assets

5

4,446

-

16,661

-

CURRENT ASSETS

Stocks

5,381

-

Debtors

6

8,008

4,259

Cash at bank and in hand

4,680

2,377

18,069

6,636

CREDITORS

Amounts falling due within one year

7

33,895

3,441

NET CURRENT (LIABILITIES)/ASSETS

(15,826

)

3,195

TOTAL ASSETS LESS CURRENT LIABILITIES

835

3,195

CAPITAL AND RESERVES

Called up share capital

15,100

100

Retained earnings

(14,265

)

3,095

SHAREHOLDERS' FUNDS

835

3,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 13 February 2019 and were signed on its behalf by:

Mr Q Tailford - Director

1.	STATUTORY INFORMATION

Malmesbury Hospitality Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the total invoice value, excluding value added tax, of services provided during

the year to third parties.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the period 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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

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 period end and that are

expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

12,857

At 31 May 2018

12,857

AMORTISATION

Charge for period

642

At 31 May 2018

642

NET BOOK VALUE

At 31 May 2018

12,215

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2016

26,979

Additions

5,928

At 31 May 2018

32,907

DEPRECIATION

At 1 December 2016

26,979

Charge for period

1,482

At 31 May 2018

28,461

NET BOOK VALUE

At 31 May 2018

4,446

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

30.11.16

£

£

Other debtors

8,008

4,259

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

30.11.16

£

£

Bank loans and overdrafts

4,715

-

Trade creditors

18,413

-

Taxation and social security

9,667

2,841

Other creditors

1,100

600

33,895

3,441

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 May 2018 and

the year ended 30 November 2016:

31.5.18

30.11.16

£

£

Mrs E M Tailford and Mr Q Tailford

Balance outstanding at start of period

1,259

-

Amounts advanced

5,000

1,259

Amounts repaid

(1,259

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

5,000

1,259

Advances to the Directors are interest bearing and repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Board of Directors.