The Talbot at Knightwick Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01735202

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2016

FOR

THE TALBOT AT KNIGHTWICK LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Jean Brenda Clift

Elizabeth May Clift

Ann Christina Clift

SECRETARY:

Jean Brenda Clift

REGISTERED OFFICE:

The Talbot At Knightwick

Knightwick

Worcester

WR6 5PH

REGISTERED NUMBER:

01735202

ACCOUNTANTS:

John Yelland & Company

Chartered Accountants

22 Sansome Walk

Worcester

Worcestershire

WR1 1LS

FIXED ASSETS

Tangible assets

2

290,232

303,181

CURRENT ASSETS

Stocks

7,920

10,934

Debtors

829

3,227

Cash at bank and in hand

58,360

77,618

67,109

91,779

CREDITORS

Amounts falling due within one year

318,612

287,115

NET CURRENT LIABILITIES

(251,503

)

(195,336

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

38,729

107,845

CREDITORS

Amounts falling due after more than one
year

157,041

166,041

NET LIABILITIES

(118,312

)

(58,196

)

CAPITAL AND RESERVES

Called up share capital

3

20,002

Profit and loss account

(138,314

)

(78,198

)

SHAREHOLDERS' FUNDS

(118,312

)

(58,196

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30th September 2016 and were signed on its
behalf by:

Jean Brenda Clift - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Freehold property

-

2% on cost

Fixtures and fittings

-

15% on reducing balance

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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit and loss account in the period to which they relate.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Profit and Loss Account as incurred.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2015

757,337

Additions

5,049

At 31st March 2016

762,386

DEPRECIATION

At 1st April 2015

454,156

Charge for year

17,998

At 31st March 2016

472,154

NET BOOK VALUE

At 31st March 2016

290,232

At 31st March 2015

303,181

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

20,002

Ordinary

£1

20,002

4.	ULTIMATE PARENT COMPANY

The ultimate holding company is F. P. Clift & Son Limited, a company registered in England and controlled by

Miss A C Clift, a director of both companies. These accounts only reflect the trading of the The Talbot at

Knightwick Limited and not of the group.

Group accounts are not prepared as the group qualifies as a small group.

5.	GOING CONCERN BASIS

The financial statements have been prepared on the going concern basis, which assumes that the company will

continue in operational existence for the foreseeable future.

This basis is considered appropriate by the directors because the company has no overdraft and is able to meet its

debts as and when they fall due. The directors and the holding company have agreed not to demand repayment of

their loans if to do so would prejudice the continued operation of the company.

Should the company be unable to continue trading, adjustments would have to be made to reduce the value of

assets to their recoverable amount, to provide for any further liabilities which might arise and to reclassify fixed

assets as current assets.

The freehold property is also considered to have a market value significantly in excess of the book value

included in the accounts.