Walrus Inns Limited - Accounts to registrar (filleted) - small 18.2
Walrus Inns Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2018 |
| for |
| Walrus Inns Limited |
| Walrus Inns Limited (Registered number: 07727725) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Walrus Inns Limited |
| Company Information |
| for the Year Ended 31 August 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Pentax House |
| South Hill Avenue |
| South Harrow |
| Middlesex |
| HA2 0DU |
| Walrus Inns Limited (Registered number: 07727725) |
| Balance Sheet |
| 31 August 2018 |
| 31.8.18 | 31.8.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Walrus Inns Limited (Registered number: 07727725) |
| Balance Sheet - continued |
| 31 August 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| Walrus Inns Limited (Registered number: 07727725) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2018 |
| 1. | STATUTORY INFORMATION |
| Walrus Inns Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| 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 |
| Plant and machinery etc | - |
| 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 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 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| 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. |
| Walrus Inns Limited (Registered number: 07727725) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The director has a reasonable expectation that the company has adequate resources to continue in operational |
| existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in |
| preparing the annual financial statements. |
| Goodwill |
| Goodwill, being the amounts paid in connection with the acquisition of businesses in 2011 and 2013, is being |
| amortised evenly over its estimated useful life of eight years. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 September 2017 |
| and 31 August 2018 |
| AMORTISATION |
| At 1 September 2017 |
| Charge for year |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2017 |
| Additions |
| At 31 August 2018 |
| DEPRECIATION |
| At 1 September 2017 |
| Charge for year |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| Included in cost of land and buildings is freehold land of £ 357,205 (2017 - £ 0 ) which is not depreciated. |
| Walrus Inns Limited (Registered number: 07727725) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2018 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| The leasehold premises purchased in the current year at a cost of £ 357,205 have a market value of £ 375,000. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Bank loans |
| Other creditors |
| The company has been advanced funds by minority shareholders. Some of the loan attracts interest at 7%. This |
| advance will not be repaid in under 2 years. |
| An unconnected investor has loaned the company funds at a commercial rate of interest.. |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Bank loans |
| The bank loan is secured over the leasehold assets of the company. |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The amount advanced was repaid within 9 months. |
| 11. | RELATED PARTY DISCLOSURES |
| The company was controlled throughout the period by the director and his wife who controlled 70% of the issued |
| share capital. |