Orchard Lodges Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 09050931 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2016

for

Orchard Lodges Ltd

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

287,315

175,671

CURRENT ASSETS

Debtors

19,628

9,795

Cash at bank

280

8,153

19,908

17,948

CREDITORS

Amounts falling due within one year

295,209

190,166

NET CURRENT LIABILITIES

(275,301

)

(172,218

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,014

3,453

PROVISIONS FOR LIABILITIES

15,171

4,517

NET LIABILITIES

(3,157

)

(1,064

)

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

(3,159

)

(1,066

)

SHAREHOLDERS' FUNDS

(3,157

)

(1,064

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 27 March 2017 and were signed on its behalf by:

Mr P J Day - 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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work

carried out in respect of services provided to customers.

Tangible fixed assets

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

Holiday Homes

-

Straight line over 25 years

Fixtures and fittings

-

Straight line over 5 years

Computer equipment

-

Straight line over 5 years

Deferred tax

Full provision is made for deferred tax liabilities arising from timing differences between the recognition of items

in the accounts and their recognition for tax purposes. Deferred tax balances are not discounted.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

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.

Going concern

The company has retained losses of £3,159 (2015 - £1,066). It also has net current liabilities of £275,301 (2015 -

£172,218) and net liabilities of £3,157 (2015 - £1,064).

The company is reliant on the continuing financial support of its creditors and while there are no reasons to doubt

that this support will continue, inherently there can be no certainty in relation to these matters. On this basis, and

having regard to the company's anticipated future revenues and costs including repayment of debt where

appropriate, together with the expected availability of working capital, the directors consider it appropriate to

prepare the financial statements on the going concern basis. The financial statements do not include any

adjustments that would result from an inability to meet obligations as they fall due.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

190,846

Additions

132,404

At 31 August 2016

323,250

DEPRECIATION

At 1 September 2015

15,175

Charge for year

20,760

At 31 August 2016

35,935

NET BOOK VALUE

At 31 August 2016

287,315

At 31 August 2015

175,671

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

£1

2

2

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

5.	CORRESPONDING AMOUNTS

These financial statements cover the year ended 31 August 2016. The comparative figures cover the period 21

May 2014 to 31 August 2015. Accordingly, the corresponding amounts may not be comparable as required by

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