Host Lincoln Limited Company Accounts

HOST LINCOLN LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06111631

Host Lincoln Limited

Filleted Unaudited Financial Statements

For the Year Ended

28 February 2017

Host Lincoln Limited

Financial Statements

Year Ended 28 February 2017

Contents	Page

Officers and Professional Advisers	1

Statement of Financial Position	2

Notes to the Financial Statements	4

Host Lincoln Limited

Officers and Professional Advisers

Director	M D Russell

Registered Office	Halifax House
	30 George Street
	HULL
	East Yorkshie
	England
	HU1 3AJ

Accountants	Streets Northern LLP
	Chartered accountant
	Halifax House
	30 George Street
	Hull
	East Yorkshire
	HU1 3AJ

Host Lincoln Limited

Statement of Financial Position

28 February 2017

	2017		2016
Note	£	£	£	£

Fixed Assets

Tangible assets	5		23,220		16,369

Current Assets

Stocks		800	800
Debtors	6	7,297	4,450
Cash at bank and in hand		94,994	106,095
		---------	---------
		103,091	111,345

Creditors: amounts falling due within one year	7	65,986		57,836
		---------		---------
Net Current Assets			37,105		53,509
			--------		--------
Total Assets Less Current Liabilities			60,325		69,878
			--------		--------
Net Assets			60,325		69,878
			--------		--------

Capital and Reserves

Called up share capital	2	2
Profit and loss account	60,323	69,876
	--------	--------
Members Funds	60,325	69,878
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Host Lincoln Limited

Statement of Financial Position (continued)

28 February 2017

These financial statements were approved by the board of directors and authorised for issue on 29 November 2017 , and are signed on behalf of the board by:

M D Russell
Director

Company registration number: 06111631

Host Lincoln Limited

Notes to the Financial Statements

Year Ended 28 February 2017

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Halifax House, 30 George Street, HULL, East Yorkshie, HU1 3AJ, England.

2. Statement of Compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 March 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

Revenue Recognition

Turnover represents the amount due, excluding VAT, for services provided during the period under review.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign Currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	25% reducing balance
Fixtures and Fittings	-	25% reducing balance
Computer Equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee Numbers

The average number of persons employed by the company during the year, including the director, amounted to 1 (2016: 1 ).

5. Tangible Assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 March 2016	2,143	2,923	30,766	35,832
Additions	–	–	14,592	14,592
	-------	-------	--------	--------
At 28 February 2017	2,143	2,923	45,358	50,424
	-------	-------	--------	--------
Depreciation
At 1 March 2016	1,384	1,580	16,499	19,463
Charge for the year	190	336	7,215	7,741
	-------	-------	--------	--------
At 28 February 2017	1,574	1,916	23,714	27,204
	-------	-------	--------	--------
Carrying amount
At 28 February 2017	569	1,007	21,644	23,220
	-------	-------	--------	--------
At 29 February 2016	759	1,343	14,267	16,369
	-------	-------	--------	--------

6. Debtors

	2017	2016
	£	£
Trade debtors	7,148	836
Other debtors	149	3,614
	-------	-------
	7,297	4,450
	-------	-------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	21,391	1,021
Corporation tax	6,205	11,085
Social security and other taxes	8,319	1,038
Other creditors	30,071	44,692
	--------	--------
	65,986	57,836
	--------	--------

8. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 March 2015.

No transitional adjustments were required in equity or profit or loss for the year.