The Couture Corporation Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03461468 (England and Wales)

THE COUTURE CORPORATION LIMITED

TRADING AS

WALPOLE BAY HOTEL

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P S Bishop

Mrs P J Bishop

SECRETARY:

Mrs D J Flanagan

REGISTERED OFFICE:

Walpole Bay Hotel

Fifth Avenue

Cliftonville

Margate

Kent

CT9 2JJ

REGISTERED NUMBER:

03461468 (England and Wales)

ACCOUNTANTS:

Spurling Cannon

Chartered Certified Accountants

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

FIXED ASSETS

Intangible assets

4

-

3,000

Tangible assets

5

413,937

405,475

413,937

408,475

CURRENT ASSETS

Stocks

6,650

9,840

Debtors

6

16,167

11,142

Cash at bank and in hand

25,049

13,060

47,866

34,042

CREDITORS

Amounts falling due within one year

7

326,568

299,722

NET CURRENT LIABILITIES

(278,702

)

(265,680

)

TOTAL ASSETS LESS CURRENT LIABILITIES

135,235

142,795

PROVISIONS FOR LIABILITIES

8,270

6,398

NET ASSETS

126,965

136,397

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

126,865

136,297

SHAREHOLDERS' FUNDS

126,965

136,397

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

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 17 September 2019 and were signed on its behalf by:

Mrs P J Bishop - Director

1.	STATUTORY INFORMATION

The Couture Corporation 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1997, 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 the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

nil

Fixtures and fittings

-

25% on reducing balance and 15% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2018 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

60,000

AMORTISATION

At 1 April 2018

57,000

Charge for year

3,000

At 31 March 2019

60,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

3,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 April 2018

364,071

230,459

594,530

Additions

-

17,415

17,415

At 31 March 2019

364,071

247,874

611,945

DEPRECIATION

At 1 April 2018

-

189,055

189,055

Charge for year

-

8,953

8,953

At 31 March 2019

-

198,008

198,008

NET BOOK VALUE

At 31 March 2019

364,071

49,866

413,937

At 31 March 2018

364,071

41,404

405,475

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

7,450

9,221

Corporation Tax refund

3,381

-

Prepayments

5,336

1,921

16,167

11,142

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

2,603

2,791

Corporation Tax

-

18,979

Social security and other taxes

22,255

22,112

Sundry creditors

6,671

6,856

Directors' current accounts

289,633

243,630

Accrued expenses

5,406

5,354

326,568

299,722

8.	RELATED PARTY DISCLOSURES

All directors and shareholders are related parties in respect of their control of the company.