Crusoe Inns Limited - Accounts to registrar (filleted) - small 17.3
Crusoe Inns Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| CRUSOE INNS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| CRUSOE INNS LIMITED (REGISTERED NUMBER: 08935945) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| CRUSOE INNS LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 March 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Albury Mill |
| Mill Lane |
| Chilworth |
| Guildford |
| Surrey |
| GU4 8RU |
| CRUSOE INNS LIMITED (REGISTERED NUMBER: 08935945) |
| BALANCE SHEET |
| 31 March 2017 |
| 2017 | 2016 |
| as restated |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | (257,837 | ) |
| 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. |
| CRUSOE INNS LIMITED (REGISTERED NUMBER: 08935945) |
| BALANCE SHEET - continued |
| 31 March 2017 |
| 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 behalf by: |
| CRUSOE INNS LIMITED (REGISTERED NUMBER: 08935945) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Crusoe Inns Limited is a |
| 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 |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual |
| value of each asset over its estimated useful life. |
| Leasehold property - straight line over the life of term |
| Office equipment - 20% straight line |
| Plant & machinery - 20% straight line |
| House equipment - 20% straight line |
| Fixtures & fittings - 10% straight line |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Taxation |
| Current tax is the amount of corporation tax payable in respect of the taxable profit for the year or prior |
| years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted |
| by the year end. |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date where transactions or events that result in an obligation to pay more tax in the future or |
| a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are |
| differences between the company's taxable profits and its results as stated in the financial statements. |
| Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing |
| differences are expected to reverse, based on tax rates and laws that have been enacted or substantially |
| enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of |
| the lease. |
| CRUSOE INNS LIMITED (REGISTERED NUMBER: 08935945) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial instruments are classified by directors as basic or advanced following the conditions on FRS 102 |
| Section 11. Basic financial instruments are recognised at amortised cost using the effective interest rate |
| method. The company does not have any advanced financial instruments. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| as restated |
| £ | £ |
| Other debtors |
| CRUSOE INNS LIMITED (REGISTERED NUMBER: 08935945) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2017 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| as restated |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2017 | 2016 |
| as restated |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 8. | RELATED PARTY DISCLOSURES |
| Included in other creditors at 31 March 2017 is £10,000 (2016: £Nil) owed to a director of the company and |
| £20,000 (2016: £Nil) owed to a close family member. The loans are interest free and repayable on demand. |
| 9. | EXPLANATION OF TRANSITION TO FRS 102 SECTION 1A |
| This is the first period that the company has presented its financial statements in accordance with the |
| provisions of Financial Reporting Standard 102 Section 1A Small Entities (FRS 102 1A) issued by the Financial |
| Reporting Council. The comparative amounts have been restated accordingly. Therefore the date of |
| transition is 1 April 2015. The last financial statements for the company that were prepared in accordance |
| with the previous accounting framework were for the year ended 31 March 2016. |
| There have been no adjustments arising upon transition to FRS 102 1A and as such there has been no |
| impact on the company's financial position or financial performance on transition. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| CRUSOE INNS LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
| a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements |
| and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Crusoe Inns Limited for the year ended 31 March 2017 which comprise the Profit and Loss |
| Account, Other Comprehensive Income, Balance Sheet and the related notes from the company's accounting |
| records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Crusoe Inns Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Crusoe Inns Limited and state those matters that we have agreed to state to the Board of Directors of Crusoe Inns Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crusoe Inns Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Crusoe Inns Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Crusoe Inns Limited. You consider that Crusoe Inns Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Crusoe Inns Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Albury Mill |
| Mill Lane |
| Chilworth |
| Guildford |
| Surrey |
| GU4 8RU |