Abbreviated Company Accounts - ISLAND LODGES LTD

Abbreviated Company Accounts - ISLAND LODGES LTD

ISLAND LODGES LTD - Company Information

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Registered Number 08463939

ISLAND LODGES LTD

Abbreviated Accounts

31 March 2015

ISLAND LODGES LTD Registered Number 08463939

Abbreviated Balance Sheet as at 31 March 2015

Notes 2015 2014
£ £
Called up share capital not paid - 1
Fixed assets
Tangible assets 2 111,689 7,500
111,689 7,500
Current assets
Stocks 56,792 -
Debtors 17,084 10,386
Cash at bank and in hand 23 1,369
73,899 11,755
Creditors: amounts falling due within one year (372,051) (2,675)
Net current assets (liabilities) (298,152) 9,080
Total assets less current liabilities (186,463) 16,581
Creditors: amounts falling due after more than one year - (57,310)
Total net assets (liabilities) (186,463) (40,729)
Capital and reserves
Called up share capital 3 100 1
Profit and loss account (186,563) (40,730)
Shareholders' funds (186,463) (40,729)
  • For the year ending 31 March 2015 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 6 November 2015

And signed on their behalf by:
David Caldicott, Director
Mrs Sian Caldicott, Director

ISLAND LODGES LTD Registered Number 08463939

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with applicable accounting standards, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Plant and machinery - 25% reducing balance basis
Fixtures and fittings - 25% reducing balance basis
Motor vehicles - 25% reducing balance basis
Office equipment - 25 reducing balance basis

Other accounting policies
Going Concern
The financial statements have been prepared on a going concern basis despite the excess of liabilities over assets at the balance sheet date. The directors have indicated their willingness to continue to support the company for the foreseeable future.

Work In Progress
Work in progress is valued at the lower of cost and net realisable value. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire Purchase and Leasing
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2Tangible fixed assets
£
Cost
At 1 April 2014 10,000
Additions 141,419
Disposals -
Revaluations -
Transfers -
At 31 March 2015 151,419
Depreciation
At 1 April 2014 2,500
Charge for the year 37,230
On disposals -
At 31 March 2015 39,730
Net book values
At 31 March 2015 111,689
At 31 March 2014 7,500
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£		 2014
£
100 Ordinary shares of £1 each (1 shares for 2014) 100 1

During the year 99 ordinary shares, having an aggregate nominal value of £99, were allotted for an aggregate consideration of £99.