Seadragon Backpackers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06087155 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2019

for

Seadragon Backpackers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs K L Ashton

REGISTERED OFFICE:

Woodsmoke

Flexbury Park Road

Bude

Cornwall

EX23 8HS

REGISTERED NUMBER:

06087155 (England and Wales)

ACCOUNTANTS:

Ghiaci Goodhand Smith Limited

12a Marlborough Place

BRIGHTON

East Sussex

BN1 1WN

FIXED ASSETS

Tangible assets

4

2,123

2,826

CURRENT ASSETS

Debtors

5

2,977

967

Cash at bank

12,233

2,443

15,210

3,410

CREDITORS

Amounts falling due within one year

6

5,224

3,937

NET CURRENT ASSETS/(LIABILITIES)

9,986

(527

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,109

2,299

PROVISIONS FOR LIABILITIES

7

320

-

NET ASSETS

11,789

2,299

CAPITAL AND RESERVES

Called up share capital

8

20

20

Retained earnings

9

11,769

2,279

SHAREHOLDERS' FUNDS

11,789

2,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director on 22 November 2019 and were signed by:

Mrs K L Ashton - Director

1.	STATUTORY INFORMATION

Seadragon Backpackers 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 represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

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.

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 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 March 2018

and 28 February 2019

16,703

DEPRECIATION

At 1 March 2018

13,877

Charge for year

703

At 28 February 2019

14,580

NET BOOK VALUE

At 28 February 2019

2,123

At 28 February 2018

2,826

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Trade debtors

2,673

729

Prepayments

304

238

2,977

967

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Tax

2,917

1,633

Social security and other taxes

945

216

Wages control

(3,156

)

-

Director's loan account

3,918

1,106

Accruals and deferred income

-

382

Accrued expenses

600

600

5,224

3,937

7.	PROVISIONS FOR LIABILITIES

28.2.19

28.2.18

£

£

Deferred tax

320

-

Deferred

tax

£

Accelerated capital allowances

320

Balance at 28 February 2019

320

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.19

28.2.18

value:

£

£

10

A Ordinary

£1

10

10

10

B Ordinary

£1

10

10

20

20

9.

RESERVES

Retained

earnings

£

At 1 March 2018

2,279

Profit for the year

11,490

Dividends

(2,000

)

At 28 February 2019

11,769

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2018 - £5,000) were paid to the director .

During the year the company occupied, rent free, premises owned by the director. No formal lease

agreement exists.

Administrative expenses includes £6,082 (2018: £3,087) of 'Repairs & renewals' in relation to this

property.

11.	CONTROLLING PARTY

The company was controlled by its director, Mrs K L Ashton, throughout the period.