Linsmohr Hotel Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC476212 (Scotland)

Abbreviated Accounts for the Year Ended 31 March 2016

for

Linsmohr Hotel Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

28,400

102,400

Tangible assets

3

483,625

499,025

512,025

601,425

CURRENT ASSETS

Stocks

7,561

14,037

Debtors

4,990

2,428

Cash at bank and in hand

29,114

59,262

41,665

75,727

CREDITORS

Amounts falling due within one year

4

279,042

378,681

NET CURRENT LIABILITIES

(237,377

)

(302,954

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

274,648

298,471

CREDITORS

Amounts falling due after more than one
year

4

272,974

369,793

NET ASSETS/(LIABILITIES)

1,674

(71,322

)

CAPITAL AND RESERVES

Called up share capital

5

2

Profit and loss account

1,672

(71,324

)

SHAREHOLDERS' FUNDS

1,674

(71,322

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 20 December 2016 and were signed by:

K W Tawse - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have been consistently applied within the same accounts.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

15% 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.

Going concern

The financial statements are prepared on a going concern basis which assumes that the company will continue to

trade. This assumption is based upon assurances provided by the directors that if required they will provide

financial assistance to enable the company to meet its financial commitments.

If the company was unable to continue to trade, adjustments would have to be made to reduce the asset values to

their recoverable amount and to provide for any further liabilities that might arise.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

148,000

AMORTISATION

At 1 April 2015

45,600

Amortisation for year

74,000

At 31 March 2016

119,600

NET BOOK VALUE

At 31 March 2016

28,400

At 31 March 2015

102,400

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

512,343

Additions

340

At 31 March 2016

512,683

DEPRECIATION

At 1 April 2015

13,318

Charge for year

15,740

At 31 March 2016

29,058

NET BOOK VALUE

At 31 March 2016

483,625

At 31 March 2015

499,025

4.

CREDITORS

Creditors include an amount of £ 286,934 (31.3.15 - £ 388,871 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.3.16

31.3.15

£

Repayable by instalments

217,134

293,481

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

2

Ordinary

1

2