Accounts filed on 31-03-2019


Registered number: 07981415






The Golden Lion (Pembrokeshire) Limited


ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2019
























Prepared By:
Pritchard & Co
Chartered Certified Accountants
Ffynnonddofn
74 High Street
Fishguard
Pembrokeshire
SA65 9AU


The Golden Lion (Pembrokeshire) Limited


FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019





DIRECTORS
D R Paish


REGISTERED OFFICE
Ffynnonddofn
74 High Street
Fishguard
Pembrokeshire
SA65 9AU


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 07981415



ACCOUNTANTS
Pritchard & Co
Chartered Certified Accountants
Ffynnonddofn
74 High Street
Fishguard
Pembrokeshire
SA65 9AU


FINANCIAL STATEMENTS
FOR THEYEARENDED31 MARCH 2019



CONTENTS



		Page

Directors' Report		-

Accountants' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		4


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 31 March 2019

			2019		2018
	Notes		£		£

FIXED ASSETS
Intangible assets	2		81,250		87,500
Tangible assets	3		125,969		82,985

			207,219		170,485

CURRENT ASSETS
Stock		12,275		12,150
Debtors	5	215,979		245,101
Current Asset Investments	6	350,000		350,000
Cash at bank and in hand		12,112		1,607
		590,366		608,858
CREDITORS: Amounts falling due within one year	7	386,148		387,082
NET CURRENT ASSETS			204,218		221,776
TOTAL ASSETS LESS CURRENT LIABILITIES			411,437		392,261


CREDITORS: Amounts falling due after more than one year	8		29,260		19,772


PROVISIONS FOR LIABILITIES AND CHARGES	10		17,833		15,139

NET ASSETS			364,344		357,350

CAPITAL AND RESERVES

Called up share capital	11		100		100
Profit and loss account			364,244		357,250
SHAREHOLDERS' FUNDS			364,344		357,350

For the year ending 31 March 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 30 July 2019 and signed on their behalf by



.............................
D R Paish
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .




1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Short Leasehold Properties		reducing balance 15%
Plant and Machinery		reducing balance 25%
Fixtures and Fittings		straight line 10%
Motor Cars		reducing balance 25%




1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.




1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.




1e. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.




5. DEBTORS	2019	2018
	£	£
Amounts falling due within one year
Trade debtors	1,901	-
Other debtors	54,087	54,955
Prepayments	1,695	-
Directors current account	158,296	190,146
	215,979	245,101




6. CURRENT ASSET INVESTMENTS
	2019	2018
	£	£
Other investments	350,000	350,000
	350,000	350,000

The other investments comprise annuity contracts purchased from the directors as detailed in note 19 and are shown at cost.




7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2019	2018
	£	£
UK corporation tax	56,360	88,723
VAT	70,511	82,815
PAYE control	19,964	26,221
Bank loans and overdrafts	18,000	14,754
Loans	12,937	6,666
Credit card	1,774	1,993
Hire purchase	10,015	4,018
Trade creditors	183,509	142,941
Other creditors	1,224	324
Accruals	11,854	18,627
	386,148	387,082




8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2019	2018
	£	£
Hire purchase >1yr	29,260	19,772
	29,260	19,772




11. SHARE CAPITAL	2019	2018
	£	£
Allotted, issued and fully paid:
100 Ordinary shares of £1 each	100	100
	100	100




12. CONTROLLING PARTY
The company is controlled by Mr D R Paish by virtue of his 100% shareholding.




13. RELATED PARTY TRANSACTIONS
The director has borowed funds from the company, at 31st March 2019 the company was owed £158,296 (2018 - £190,146 £50,000 was declared on 3 December 2018 thus reducing the balance to £140,146).
On 22 December 2014 The Golden Lion (Pembrokeshire) Limited purchased an annuity contract from Mr D Paish for £200,000. Under the terms of the contract the company will receive annual payments of £13,550 commencing on 5 April 2024 for the lifetime of Mr D Paish.
On 23 December 2016 The Golden Lion (Pembrokeshire) Limited purchased an annuity contract from Mr D Paish for £150,000. Under the terms of the contract the company will receive annual payments of £5,744 commencing on 23 December 2017 for the lifetime of Mr D Paish.