The Lochside Hotel Limited - Period Ending 2016-03-31

Registration number: SC496257

The Lochside Hotel Limited

Unaudited Abbreviated Accounts

for the Period from 29 January 2015 to 31 March 2016

 

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

The Lochside Hotel Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
The Lochside Hotel Limited
for the Period Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Lochside Hotel Limited for the period ended 31 March 2016 set out on pages 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 Lochside Hotel Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Lochside Hotel Limited and state those matters that we have agreed to state to them, 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 Lochside Hotel Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Lochside Hotel Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Lochside Hotel Limited. You consider that The Lochside Hotel Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of The Lochside Hotel Limited. 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 accounts.

......................................

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

5 August 2016

Page 1

The Lochside Hotel Limited
(Registration number: SC496257)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £
Fixed assets
Tangible fixed assets					240,695
Current assets
Debtors					30,141
Cash at bank and in hand					16,012
					46,153
Creditors: Amounts falling due within one year					(177,930)
Net current liabilities					(131,777)
Total assets less current liabilities					108,918
Creditors: Amounts falling due after more than one year					(63,252)
Net assets					45,666
Capital and reserves
Called up share capital		3			1
Profit and loss account					45,665
Shareholders' funds					45,666

For the year ending 31 March 2016 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 director acknowledges his 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 director on 5 August 2016

.........................................
Mr Neil Morrison
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

The Lochside Hotel Limited
Notes to the Abbreviated Accounts for the Period from 29 January 2015 to 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Fixed assets are written down to net realisable value over their estimated useful lifetime

Asset class	Depreciation method and rate
Land & buildings	In accordance with the property
Land & buildings - improvements	In accordance with the property
Plant & machinery	25% reducing balance basis
Fixtures & fittings	8% reducing balance

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

The Lochside Hotel Limited
Notes to the Abbreviated Accounts for the Period from 29 January 2015 to 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		246,695			246,695
At 31 March 2016		246,695			246,695
Depreciation
Charge for the period		6,000			6,000
At 31 March 2016		6,000			6,000
Net book value
At 31 March 2016		240,695			240,695

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016
		No.			£
Ordinary of £1 each		1			1

New shares allotted

During the period 1 Ordinary share having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1. Allotted upon incorporation.

Page 4