The Old Library Residential Home Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04676023 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

THE OLD LIBRARY RESIDENTIAL HOME LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr C Jackson

REGISTERED OFFICE:

36 High Street

Cleethorpes

N E Lincs

DN35 8JN

BUSINESS ADDRESS:

Haverstoe

1 Taylor's Avenue

Cleethorpes

North East Lincs

DN35 0LF

REGISTERED NUMBER:

04676023 (England and Wales)

ACCOUNTANTS:

Blow Abbott Limited

36 High Street

Cleethorpes

North East Lincs

DN35 8JN

FIXED ASSETS

Tangible assets

4

14,211

19,033

CURRENT ASSETS

Stocks

475

475

Debtors

5

33,720

24,170

Cash at bank and in hand

80,354

85,049

114,549

109,694

CREDITORS

Amounts falling due within one year

6

48,536

31,648

NET CURRENT ASSETS

66,013

78,046

TOTAL ASSETS LESS CURRENT LIABILITIES

80,224

97,079

CREDITORS

Amounts falling due after more than one year

7

6,534

13,057

NET ASSETS

73,690

84,022

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

73,689

84,021

SHAREHOLDERS' FUNDS

73,690

84,022

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

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

The director acknowledges his 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 director on 9 April 2019 and were signed by:

Mr C Jackson - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Short leasehold

-

20% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance

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 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.

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 statement of financial position date.

Deferred tax

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

the statement of financial position 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 year 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 year was NIL (2017 - 24 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

leasehold

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2018

and 31 December 2018

2,000

31,020

20,900

53,920

DEPRECIATION

At 1 January 2018

2,000

30,274

2,613

34,887

Charge for year

-

250

4,572

4,822

At 31 December 2018

2,000

30,524

7,185

39,709

NET BOOK VALUE

At 31 December 2018

-

496

13,715

14,211

At 31 December 2017

-

746

18,287

19,033

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

29,409

21,016

Deferred tax asset

4,311

3,154

33,720

24,170

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

4,347

2,172

Trade creditors

2,150

2,150

Tax

20,597

14,819

Social security and other taxes

5,740

1,525

Other creditors

10,772

6,113

Directors' loan accounts

11

346

Accruals and deferred income

4,919

4,523

48,536

31,648

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

6,534

13,057

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1

Ordinary

£1

1

1

9.	RELATED PARTY DISCLOSURES

As at 31 December 2018 the company owed the Director £11 (31 December 2017 £346). No interest

is payable on the loan.

10.	ULTIMATE CONTROLLING PARTY

Mr C W Jackson owns 100% of the issued share capital of the company and is therefore the ultimate

controlling party.