La Fleur de Lys Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04700231 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

LA FLEUR DE LYS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J R Griffin-Shepherd

Mrs D M Griffin-Shepherd

M Preston

M I A Hughes

SECRETARY:

Mrs D M Griffin-Shepherd

REGISTERED OFFICE:

Bleke Street

Shaftesbury

Dorset

SP7 8AW

REGISTERED NUMBER:

04700231 (England and Wales)

ACCOUNTANTS:

Andrews and Palmer

Chartered Accountants

32 The Square

Gillingham

Dorset

SP8 4AR

FIXED ASSETS

Intangible assets

4

38,552

44,975

Tangible assets

5

771,910

789,795

810,462

834,770

CURRENT ASSETS

Stocks

3,550

4,525

Debtors

6

6,377

3,303

Cash in hand

-

191

9,927

8,019

CREDITORS

Amounts falling due within one year

7

136,523

142,126

NET CURRENT LIABILITIES

(126,596

)

(134,107

)

TOTAL ASSETS LESS CURRENT LIABILITIES

683,866

700,663

CREDITORS

Amounts falling due after more than one year

8

(587,433

)

(608,849

)

PROVISIONS FOR LIABILITIES

(8,175

)

(9,403

)

NET ASSETS

88,258

82,411

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

88,158

82,311

SHAREHOLDERS' FUNDS

88,258

82,411

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2020 and were signed on its behalf by:

D J R Griffin-Shepherd - Director

1.	STATUTORY INFORMATION

La Fleur de Lys 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

On 11 March 2020 the World Health Organisation declared the coronavirus Covid-19 outbreak a pandemic. The Company has taken steps to mitigate this risk and has assessed expected cashflow and profitability for more than 12 months ahead. On this basis the Directors consider that the going concern basis for preparation of the accounts remains appropriate.

Turnover

Turnover represents net invoiced sales of rooms and restaurant takings, excluding value added tax. Turnover is recognised in the period in which the goods are dispatched or the service is performed.

Goodwill

Goodwill is the amount paid in accordance with the acquisition of a business in 2003. Although the Directors believe there has been no diminution in the goodwill, goodwill is to be amortised over the remaining 10 year period in accordance with FRS 102 1A.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Land : not depreciated

Buildings: depreciated over 50 years to its estimated residual value.

Fixtures and Fittings: 10% straight line basis.

Stocks

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

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 16 (2018 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 December 2018

and 30 November 2019

96,500

170

96,670

AMORTISATION

At 1 December 2018

51,661

34

51,695

Charge for year

6,406

17

6,423

At 30 November 2019

58,067

51

58,118

NET BOOK VALUE

At 30 November 2019

38,433

119

38,552

At 30 November 2018

44,839

136

44,975

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 December 2018

805,674

182,138

987,812

Additions

1,541

180

1,721

Disposals

(7,873

)

-

(7,873

)

At 30 November 2019

799,342

182,318

981,660

DEPRECIATION

At 1 December 2018

45,162

152,855

198,017

Charge for year

4,632

7,101

11,733

At 30 November 2019

49,794

159,956

209,750

NET BOOK VALUE

At 30 November 2019

749,548

22,362

771,910

At 30 November 2018

760,512

29,283

789,795

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Other debtors

4,911

-

Accrued income

200

250

Prepayments

1,266

3,053

6,377

3,303

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Bank loans and overdrafts

56,882

63,050

Trade creditors

29,115

25,629

Corporation tax

16,788

13,710

Social security and other taxes

2,628

1,938

Pension control

-

16

VAT

20,458

19,692

Other creditors

3,942

3,817

Wages Control Account

1,967

2,512

Accrued expenses

4,743

11,762

136,523

142,126

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.19

30.11.18

£

£

Mortgage repayable between one

and five years

44,057

76,527

Mortgage repayable in five

years or more

24,276

35,868

Accrued loan interest

91,913

89,561

Directors loans

364,687

344,393

William Hughes Ltd EPS- loan

62,500

62,500

587,433

608,849

Amounts falling due in more than five years:

Repayable by instalments

Mortgage repayable in five

years or more

24,276

35,868

24,276

35,868

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.19

30.11.18

£

£

Bank overdrafts

13,014

13,523

Bank loans

112,201

161,922

Directors loan

364,687

344,393

William Hughes Ltd EPS

62,500

62,500

552,402

582,338

Lloyds TSB bank has a fixed charge over the building, goodwill, plant and machinery and

a floating charge over unattached plant chattels and goods in connection with the business,

as part of the mortgage charge.

Lloyds TSB bank also hold a further fixed and floating charge over the undertaking and all

property, assets present and future, including goodwill, book debts, uncalled capital buildings, fixtures

and plant and machinery.

Trustees of William Hughes Limited Executive Pension Fund also hold a fixed and floating charge

over the undertaking and all property, assets present and future, including goodwill, book debts, uncalled

capital buildings, fixtures and plant and machinery with regards to the loan outstanding of £62,500.

The directors, D Shepherd, M Griffin and M Preston also hold a fixed and floating charge over the

underdertaking and all property, assets present and future, including goodwill, book debts, uncalled

capital buildings, fixtures and plant and machinery with regards to the combined directors loans

outstanding of £364,687 (2018: £344,393).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed the directors and associated funds the following loans due and payable in more than one year:

D J R Shepherd, Mrs D M Griffin and M Preston combined directors loans £364,687 (2018: £344,393).

Loan from W Hughes Ltd Executive Pension Scheme £62,500 (2018: £62,500).

Also, included in creditors due within more than one year, is accrued interest payable on the above

loans, which is subject to various covenants and distributable reserve conditions. The amounts accrued were as follows:

W Hughes Ltd Executive Pension Scheme £91,913 (2018: £89,561).

D J R Shepherd, Mrs D M Griffin and M Preston, combined £Nil (2018: £Nil).

11.	RELATED PARTY DISCLOSURES

12.	POST BALANCE SHEET EVENTS

On 11 March 2020 the World Health Organisation declared the coronavirus Covid-19 outbreak a pandemic. There has been no adjustment to the financial statements as at 31 March 2020 as a result of this. However, the Directors continue to monitor the changing circumstances and will adapt where considered appropriate, including using the government furlough scheme where necessary.

13.	ULTIMATE CONTROLLING PARTY

The company is controlled by the Board of Directors.