Accounts filed on 31-03-2017


Registered number: 07981415






The Golden Lion (Pembrokeshire) Limited


ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2017
























Prepared By:
Pritchard & Co
Chartered Certified Accountants
Ffynnonddofn
74 High Street
Fishguard
Pembrokeshire
SA65 9AU


The Golden Lion (Pembrokeshire) Limited


FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017





DIRECTORS
D R Paish


REGISTERED OFFICE
Ffynnonddofn
74 High Street
Fishguard
Pembrokeshire
SA65 9AU


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 07981415



ACCOUNTANTS
Pritchard & Co
Chartered Certified Accountants
Ffynnonddofn
74 High Street
Fishguard
Pembrokeshire
SA65 9AU


FINANCIAL STATEMENTS
FOR THEYEARENDED31 MARCH 2017



CONTENTS



		Page

Directors' Report		-

Accountants' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		4


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 31 March 2017

			2017		2016
	Notes		£		£

FIXED ASSETS
Intangible assets	2		93,750		100,000
Tangible assets	3		62,635		69,470

			156,385		169,470

CURRENT ASSETS
Stock		11,680		11,850
Debtors	5	207,672		115,582
Current Asset Investments	6	350,000		350,000
Cash at bank and in hand		3,173		623
		572,525		478,055
CREDITORS: Amounts falling due within one year	7	357,147		393,621
NET CURRENT ASSETS			215,378		84,434
TOTAL ASSETS LESS CURRENT LIABILITIES			371,763		253,904


CREDITORS: Amounts falling due after more than one year	8		14,639		18,116


PROVISIONS FOR LIABILITIES AND CHARGES	10		11,625		12,805

NET ASSETS			345,499		222,983

CAPITAL AND RESERVES

Called up share capital	11		100		100
Profit and loss account			345,399		222,883
SHAREHOLDERS' FUNDS			345,499		222,983

For the year ending 31 March 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 10 November 2017 and signed on their behalf by



.............................
D R Paish
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .




1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Short Leasehold Properties		reducing balance 15%
Plant and Machinery		reducing balance 25%
Fixtures and Fittings		straight line 10%
Motor Cars		reducing balance 25%




1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.




1d. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.




5. DEBTORS	2017	2016
	£	£
Amounts falling due within one year
Other debtors	45,613	43,676
Prepayments	-	15,079
Directors current account	162,059	56,827
	207,672	115,582




6. CURRENT ASSET INVESTMENTS
	2017	2016
	£	£
Other investments	350,000	350,000
	350,000	350,000

The other investments comprise annuity contracts purchased from the directors as detailed in note 18 and are shown at cost.




7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2017	2016
	£	£
UK corporation tax	70,211	33,973
VAT	81,320	46,774
PAYE control	24,616	57,977
Bank loans and overdrafts	22,409	17,817
Bank Loan	14,167	-
Liberis	25,139	39,580
Credit card	1,558	2,536
Hire purchase	3,477	3,243
Trade creditors	94,392	163,567
Other creditors	398	12,864
Accruals	19,460	15,290
	357,147	393,621




8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2017	2016
	£	£
Hire purchase >1yr	14,639	18,116
	14,639	18,116




11. SHARE CAPITAL	2017	2016
	£	£
Allotted, issued and fully paid:
100 Ordinary shares of £1 each	100	100
	100	100




12. CONTROLLING PARTY
The company is controlled by Mr D R Paish by virtue of his 100% shareholding.




13. RELATED PARTY TRANSACTIONS
The director has borowed funds from the company, at 31st March 2016 the company was owed £162,057 (2016 - £56,827). A dividend of £150,000 was declared on 1 November 2017 thus reducing the balance to £12,057.
On 22 December 2014 The Golden Lion (Pembrokeshire) Limited purchased an annuity contract from Mr D Paish for £200,000. Under the terms of the contract the company will receive annual payments of £13,550 commencing on 5 April 2024 for the lifetime of Mr D Paish.
On 23 December 2016 The Golden Lion (Pembrokeshire) Limited purchased an annuity contract from Mr D Paish for £150,000. Under the terms of the contract the company will receive annual payments of £5,744 commencing on 23 December 2027 for the lifetime of Mr D Paish.