Hideaway Lodges Limited - Abbreviated accounts

HIDEAWAY LODGES LIMITED - Company Information

Registered number

SC217849

Hideaway Lodges Limited

Abbreviated Accounts

31 March 2014

Hideaway Lodges Limited
Registered number:		SC217849
Abbreviated Balance Sheet
as at 31 March 2014

Notes			2014			2013
£				£
Fixed assets
Tangible assets	2		304,702			305,928

Current assets
Debtors		1,244			1,015
Cash at bank and in hand		3,062			13,718
		4,306			14,733

Creditors: amounts falling due within one year		(45,729)			(66,897)

Net current liabilities			(41,423)			(52,164)

Total assets less current liabilities			263,279			253,764


Provisions for liabilities			(807)			(1,023)


Net assets			262,472			252,741

Capital and reserves
Called up share capital	3		1			1
Profit and loss account			262,471			252,740

Shareholder's funds			262,472			252,741

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



W R Fisher
Director
Approved by the board on 13 August 2014

Hideaway Lodges Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of furnished holiday letting rentals.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Investment Properties			nil
	Fixtures and fittings			25% reducing balance

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Investment Properties
	In accordance with the FRSSE, investment properties are revalued at open market value annually by either independent professional third party valuers or the directors. The aggregate surplus or deficit is transferred to revaluation reserve, subject to individual impairments in value. No depreciation is provided in respect of investment properties. However the Companies Act 1985 requires that all properties should be depreciated. This requirement conflicts with the generally accepted accounting principle set out in the FRSSE. The directors consider that since these properties are primarily held for their investment potential, to depreciate them would not give a true and fair view. It this departure from the Act had not been made, the profit for the financial year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified because depreciation is only one of the many factors reflected in the annual valuation.


2	Tangible fixed assets					£

	Cost
	At 1 April 2013					324,418
	Additions					300
	At 31 March 2014					324,718

	Depreciation
	At 1 April 2013					18,490
	Charge for the year					1,526
	At 31 March 2014					20,016

	Net book value
	At 31 March 2014					304,702
	At 31 March 2013					305,928


3	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		1		1		1