Glan Morfa Lodge Ltd - Accounts to registrar (filleted) - small 18.2

Glan Morfa Lodge Ltd - Accounts to registrar (filleted) - small 18.2

GLAN MORFA LODGE LTD - Company Information

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REGISTERED NUMBER: 08956378 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2020

FOR

GLAN MORFA LODGE LTD
GLAN MORFA LODGE LTD (REGISTERED NUMBER: 08956378)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLAN MORFA LODGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2020







DIRECTORS: Mr D. J. Ryan
Ms M. M. Pereira





SECRETARY: Ms M. M. Pereira





REGISTERED OFFICE: Glan Morfa
Llangaffo
Gaerwen
Anglesey
LL60 6LY





REGISTERED NUMBER: 08956378 (England and Wales)





ACCOUNTANTS: Richard Williams & Co
Chartered Accountants
The Old Police Station
Gaerwen
Anglesey
LL60 6BL
Page 1
GLAN MORFA LODGE LTD (REGISTERED NUMBER: 08956378)

BALANCE SHEET
31ST MARCH 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 840,900 831,408

CURRENT ASSETS
Cash at bank 9,500 1,106

CREDITORS
Amounts falling due within one year 5 12,039 15,670
NET CURRENT LIABILITIES (2,539 ) (14,564 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
838,361
816,844

CREDITORS
Amounts falling due after more than one
year
6
441,710
446,158
NET ASSETS 396,651 370,686

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7 396,551 370,586
SHAREHOLDERS' FUNDS 396,651 370,686

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2020 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 notes form part of these financial statements

Page 2 continued...
GLAN MORFA LODGE LTD (REGISTERED NUMBER: 08956378)

BALANCE SHEET - continued
31ST MARCH 2020


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 17th December 2020 and were signed on its behalf by:





Ms M. M. Pereira - Director


The notes form part of these financial statements

Page 3
GLAN MORFA LODGE LTD (REGISTERED NUMBER: 08956378)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2020

1. STATUTORY INFORMATION

Glan Morfa Lodge Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2019 801,719 66,252 867,971
Additions - 18,333 18,333
At 31st March 2020 801,719 84,585 886,304
DEPRECIATION
At 1st April 2019 29,457 7,106 36,563
Charge for year 3,368 9,473 12,841
Eliminated on disposal - (4,000 ) (4,000 )
At 31st March 2020 32,825 12,579 45,404
NET BOOK VALUE
At 31st March 2020 768,894 72,006 840,900
At 31st March 2019 772,262 59,146 831,408

Page 4 continued...
GLAN MORFA LODGE LTD (REGISTERED NUMBER: 08956378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2020

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Bank loans and overdrafts 1,116 -
Trade creditors 1,510 901
Taxation and social security 1,598 2,251
Other creditors 7,815 12,518
12,039 15,670

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2020 2019
£    £   
Bank loans 441,710 446,158

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 294,803 308,067
Bank loans 50,363 53,091
Directors Loan 85,000 85,000
Loan 11,544 -
441,710 446,158

7. RESERVES
Retained
earnings
£   

At 1st April 2019 370,586
Profit for the year 25,965
At 31st March 2020 396,551

Other Reserves consist entirely of the Directors Equity Support, whereby the Directors have agreed not to withdraw their Director Loan Account balances so as to jeopardize the net asset position of the company.

Page 5