Ullswater View Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05938729 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

ULLSWATER VIEW LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs J Miller-Crook

REGISTERED OFFICE:

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

REGISTERED NUMBER:

05938729 (England and Wales)

ACCOUNTANTS:

SBCA Chartered Accountants

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

29,090

23,615

29,090

23,615

CURRENT ASSETS

Stocks

6

2,600

2,600

Debtors

7

955

3,011

Cash at bank

64

-

3,619

5,611

CREDITORS

Amounts falling due within one year

8

(74,181

)

(83,058

)

NET CURRENT LIABILITIES

(70,562

)

(77,447

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(41,472

)

(53,832

)

CREDITORS

Amounts falling due after more than one year

9

(8,000

)

(8,000

)

PROVISIONS FOR LIABILITIES

10

(1,639

)

(1,007

)

NET LIABILITIES

(51,111

)

(62,839

)

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

12

(51,211

)

(62,939

)

SHAREHOLDERS' FUNDS

(51,111

)

(62,839

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2020 and were signed by:

Mrs J Miller-Crook - Director

1.	STATUTORY INFORMATION

Ullswater View 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.

The director has reviewed the company's forecasts and projections and, in particular, has considered the

potential implications of the Coronavirus (COVID-19) pandemic. Whilst the eventual financial impact of the

pandemic on the company, and on the overall economy, remains uncertain.

With the benefit of government support packages available to help businesses through the pandemic, the

director has a reasonable expectation that the company will have adequate resources to continue in operational

existence for the foreseeable future.

The director has also indicated that financial support is likely to continue in respect of the loan of £20,917 (2018

£42,373) provided to the company by the director.

The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover represents invoiced value of goods and services provided in the year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2006, is being amortised

evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Hotel Furnishings

-

15% on cost

Equipment

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised cost using the effective interest

method unless the arrangement constitutes a financing transaction, where the transaction is measured at the

present value of the future cash flows discounted at a market rate of interest. Financial assets classified as

receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets

of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the

arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of

future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year

are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one

year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at

transaction price and subsequently measured at amortised cost using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 5 (2018 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2018

and 30 September 2019

35,000

AMORTISATION

At 1 October 2018

and 30 September 2019

35,000

NET BOOK VALUE

At 30 September 2019

-

At 30 September 2018

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Hotel

Computer

property

Furnishings

Equipment

equipment

Totals

£

£

£

£

£

COST

At 1 October 2018

84,190

25,353

38,304

6,249

154,096

Additions

8,225

2,856

2,190

149

13,420

Disposals

-

(18,097

)

(11,861

)

-

(29,958

)

At 30 September 2019

92,415

10,112

28,633

6,398

137,558

DEPRECIATION

At 1 October 2018

67,123

23,122

33,987

6,249

130,481

Charge for year

5,856

722

1,342

25

7,945

Eliminated on disposal

-

(18,097

)

(11,861

)

-

(29,958

)

At 30 September 2019

72,979

5,747

23,468

6,274

108,468

NET BOOK VALUE

At 30 September 2019

19,436

4,365

5,165

124

29,090

At 30 September 2018

17,067

2,231

4,317

-

23,615

6.

STOCKS

30.9.19

30.9.18

£

£

Stocks

2,600

2,600

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

955

3,011

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans and overdrafts

12,648

11,364

Trade creditors

22,017

13,531

Taxation and social security

11,103

12,387

Other creditors

28,413

45,776

74,181

83,058

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

30.9.18

£

£

Other creditors

8,000

8,000

10.	PROVISIONS FOR LIABILITIES

30.9.19

30.9.18

£

£

Deferred tax

Accelerated Capital Allowances

1,639

1,007

Deferred

tax

£

Balance at 1 October 2018

1,007

Charge to Statement of Income and Retained Earnings during year

632

Balance at 30 September 2019

1,639

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.19

30.9.18

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Retained

earnings

£

At 1 October 2018

(62,939

)

Profit for the year

11,728

At 30 September 2019

(51,211

)