| The House Family Limited |
| Registered number: |
08709657 |
| Balance Sheet |
| as at 31 March 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
40,000 |
|
|
60,000 |
| Tangible assets |
4 |
|
|
41,610 |
|
|
15,955 |
|
|
|
|
81,610 |
|
|
75,955 |
|
| Current assets |
| Stocks |
|
|
38,200 |
|
|
26,603 |
| Debtors |
5 |
|
8,876 |
|
|
3,139 |
| Cash at bank and in hand |
|
|
42,062 |
|
|
204,872 |
|
|
|
89,138 |
|
|
234,614 |
|
| Creditors: amounts falling due within one year |
6 |
|
(157,228) |
|
|
(75,979) |
|
| Net current (liabilities)/assets |
|
|
|
(68,090) |
|
|
158,635 |
|
| Total assets less current liabilities |
|
|
|
13,520 |
|
|
234,590 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(4,927) |
|
|
(216,144) |
|
|
| Net assets |
|
|
|
8,593 |
|
|
18,446 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
4 |
|
|
4 |
| Profit and loss account |
|
|
|
8,589 |
|
|
18,442 |
|
| Shareholders' funds |
|
|
|
8,593 |
|
|
18,446 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
| S Extance J J Y Murray |
| Director |
| Approved by the board on 31 May 2017 |
|
| The House Family Limited |
| Notes to the Accounts |
| for the year ended 31 March 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed asset at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Bar and kitchen equipment |
over five years |
|
Office equiupment |
over five years |
|
Furniture and fixtures |
over five years |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
|
|
| 2 |
Employees |
2017 |
|
2016 |
| Number |
Number |
|
|
Average number of persons employed by the company |
65 |
|
40 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 April 2016 |
100,000 |
|
At 31 March 2017 |
100,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2016 |
40,000 |
|
Provided during the year |
20,000 |
|
At 31 March 2017 |
60,000 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2017 |
40,000 |
|
At 31 March 2016 |
60,000 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of five years. |
|
|
| 4 |
Tangible fixed assets |
|
|
Bar and kitchen equipment |
|
Office equipment |
|
Furniture and fixtures |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2016 |
17,849 |
|
2,228 |
|
3,695 |
|
23,772 |
|
Additions |
29,997 |
|
996 |
|
5,067 |
|
36,060 |
|
At 31 March 2017 |
47,846 |
|
3,224 |
|
8,762 |
|
59,832 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2016 |
6,209 |
|
558 |
|
1,050 |
|
7,817 |
|
Charge for the year |
8,327 |
|
536 |
|
1,542 |
|
10,405 |
|
At 31 March 2017 |
14,536 |
|
1,094 |
|
2,592 |
|
18,222 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2017 |
33,310 |
|
2,130 |
|
6,170 |
|
41,610 |
|
At 31 March 2016 |
11,640 |
|
1,670 |
|
2,645 |
|
15,955 |
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Other debtors |
8,876 |
|
3,139 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade creditors |
46,948 |
|
30,354 |
|
Corporation tax |
- |
|
16,245 |
|
Other taxes and social security costs |
98,730 |
|
22,215 |
|
Other creditors |
11,550 |
|
7,165 |
|
|
|
|
|
|
157,228 |
|
75,979 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Directors loans |
4,927 |
|
216,144 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
|
|
The company paid rent during the year of £75,000 (2016 £55,000) to the House Group Partnership in which the directors of the company are partners. |
|
| 9 |
Controlling party |
|
|
The company is controlled by the directors. |
|
|
| 10 |
Other information |
|
|
The House Family Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
|
85 Barton Street |
|
Tewkesbury |
|
Gloucestershire |
