Crater Lake Company Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03025058 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2017

for

Crater Lake Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G D Eckersley

M J Fancett

REGISTERED OFFICE:

36 Park Avenue North

Harpenden

Hertfordshire

AL5 2ED

REGISTERED NUMBER:

03025058 (England and Wales)

ACCOUNTANTS:

Haines Watts

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

CURRENT ASSETS

Debtors

4

78

-

Cash at bank

17,750

1,677

17,828

1,677

CREDITORS

Amounts falling due within one year

5

22,943

22,810

NET CURRENT LIABILITIES

(5,115

)

(21,133

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,115

)

(21,133

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(6,115

)

(22,133

)

SHAREHOLDERS' FUNDS

(5,115

)

(21,133

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement for the year ended 28 February 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 September 2017 and were signed on its behalf by:

M J Fancett - Director

1.	STATUTORY INFORMATION

Crater Lake Company Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on a going concern basis as the Directors have undertaken to

continue to support the company whilst it continues to develop its business.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

3.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 March 2016

and 28 February 2017

600

PROVISIONS

At 1 March 2016

and 28 February 2017

600

NET BOOK VALUE

At 28 February 2017

-

At 29 February 2016

-

The company has invested in 8,400 preferred 1p shares in BigEars Digital Services Ltd, a company

incorporated in the United Kingdom. The directors believe that the investment has no value at the

29th February 2017.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Other debtors

78

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Trade creditors

5,473

-

Other creditors

17,470

22,810

22,943

22,810

6.	RELATED PARTY DISCLOSURES

The Company has been funded personally by Mark Fancett, a director, and assurance has been

received that he will not seek repayment of this funding in preference to any other creditor.