The Manor By The Lake Cheltenham Ltd - Limited company accounts 16.1

REGISTERED NUMBER: 08373622 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2015

for

The Manor By The Lake Cheltenham Ltd

Page

Company Information

1

Report of the Directors

2

Chartered Accountants' Report

3

Income statement

4

Balance Sheet

5

Notes to the Financial Statements

7

DIRECTORS:

M Chittenden

T Madge

SECRETARY:

M Chittenden

REGISTERED OFFICE:

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

REGISTERED NUMBER:

08373622 (England and Wales)

ACCOUNTANTS:

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

The directors present their report with the financial statements of the company for the year ended 31 December 2015.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of hosting weddings and other events.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2015 to the date of this

report.

M Chittenden

T Madge

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors

have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not

approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the

company and of the profit or loss of the company for that period. In preparing these financial statements, the directors

are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

M Chittenden - Director

3 June 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of The Manor By The Lake Cheltenham Ltd for the year ended 31 December 2015 which comprise

the Income statement, Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of The Manor By The Lake Cheltenham Ltd, as a body, in accordance with the terms of our engagement letter dated 3 October 2013. Our work has been undertaken solely to prepare for your approval the financial statements of The Manor By The Lake Cheltenham Ltd and state those matters that we have agreed to state to the Board of Directors of The Manor By The Lake Cheltenham Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Manor By The Lake Cheltenham Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Manor By The Lake Cheltenham Ltd. You consider that The Manor By The Lake Cheltenham Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Manor By The Lake Cheltenham Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

16 June 2016

TURNOVER

1,779,030

1,066,638

Cost of sales

(511,946

)

(422,324

)

GROSS PROFIT

1,267,084

644,314

Administrative expenses

(1,311,939

)

(807,632

)

OPERATING LOSS

4

(44,855

)

(163,318

)

Interest payable and similar expenses

(5,151

)

(175

)

LOSS BEFORE TAXATION

(50,006

)

(163,493

)

Tax on loss

-

-

LOSS FOR THE FINANCIAL YEAR

(50,006

)

(163,493

)

FIXED ASSETS

Tangible assets

5

1,502,638

1,746,461

CURRENT ASSETS

Stocks

15,107

9,846

Debtors: amounts falling due within one year

6

106,151

145,677

Cash at bank and in hand

87,375

74,138

208,633

229,661

CREDITORS

Amounts falling due within one year

7

2,040,775

2,350,131

NET CURRENT LIABILITIES

(1,832,142

)

(2,120,470

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(329,504

)

(374,009

)

CREDITORS

Amounts falling due after more than one year

8

113,622

19,111

NET LIABILITIES

(443,126

)

(393,120

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(444,126

)

(394,120

)

SHAREHOLDERS' FUNDS

(443,126

)

(393,120

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 3 June 2016 and were signed on its behalf by:

M Chittenden - Director

T Madge - Director

1.	STATUTORY INFORMATION

The Manor By The Lake Cheltenham 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

Compliance with accounting standards

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on cost and 10% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Going concern

The accounts have been prepared under the going concern basis due to the company having the full ongoing

support of the directors and the fellow group companies.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 .

4.	OPERATING LOSS

The operating loss is stated after charging:

Period

1/10/13

Year Ended

to

31/12/15

31/12/14

£

£

Depreciation - owned assets

197,339

146,375

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2015

193,634

1,711,084

1,904,718

Additions

-

17,205

17,205

Disposals

-

(48,690

)

(48,690

)

At 31 December 2015

193,634

1,679,599

1,873,233

DEPRECIATION

At 1 January 2015

22,695

135,562

158,257

Charge for year

19,363

198,649

218,012

Eliminated on disposal

-

(5,674

)

(5,674

)

At 31 December 2015

42,058

328,537

370,595

NET BOOK VALUE

At 31 December 2015

151,576

1,351,062

1,502,638

At 31 December 2014

170,939

1,575,522

1,746,461

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2015

80,000

Additions

2,692

At 31 December 2015

82,692

DEPRECIATION

Charge for year

20,673

At 31 December 2015

20,673

NET BOOK VALUE

At 31 December 2015

62,019

At 31 December 2014

80,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2015

2014

£

£

Trade debtors

97,214

97,571

Amounts owed by group undertakings

-

3,000

Other debtors

8,937

45,106

106,151

145,677

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2015

2014

£

£

Hire purchase contracts

16,538

58,318

Trade creditors

161,590

456,588

Amounts owed to group undertakings

357,845

418,302

Taxation and social security

128,893

61,435

Other creditors

1,375,909

1,355,488

2,040,775

2,350,131

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2015

2014

£

£

Hire purchase contracts

49,615

19,111

Other creditors

64,007

-

113,622

19,111

9.	SECURED DEBTS

Barclays Bank Plc hold a debenture dated 9 January 2015 over the company and the group's assets.

10.	RELATED PARTY DISCLOSURES

During the reporting period, the company paid rent of £97,925 (2014: £150,400) to the directors, for the

building from which the company operates. At the balance sheet date, the balance owed to the directors

amounted to £642,557 (2014: £947,213).

At the balance sheet date, the company owed £357,845 (2014: £418,302) to Woodhall Manor Events Limited, a

fellow subsidiary company.

At the balance sheet date, the company owed £82,928 (2014: £390,904) to MRM47 Limited, a company owned

by M Chittenden.

Mr Chittenden and Ms Madge have personally guaranteed the amounts due on the hire purchase contracts.

11.	ULTIMATE CONTROLLING PARTY

The company is a wholly owed subsidiary of MT & TM Holdings Ltd, which is jointly owned by the directors.