Canada Lake Lodge Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06669774 (England and Wales)

CANADA LAKE LODGE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Board

R Thomas

REGISTERED OFFICE:

Pant-y-Gored Farm

Heol Pant-y-Gored

Creigiau

CARDIFF

CF15 9NF

REGISTERED NUMBER:

06669774 (England and Wales)

ACCOUNTANTS:

Watts Gregory LLP

Chartered Accountants

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

1,189

2,345

Investments

5

120,740

100,000

121,929

102,345

CURRENT ASSETS

Debtors

6

474,628

315,412

Cash at bank and in hand

378,154

388,621

852,782

704,033

CREDITORS

Amounts falling due within one year

7

(350,307

)

(234,442

)

NET CURRENT ASSETS

502,475

469,591

TOTAL ASSETS LESS CURRENT LIABILITIES

624,404

571,936

PROVISIONS FOR LIABILITIES

(1,137

)

-

NET ASSETS

623,267

571,936

CAPITAL AND RESERVES

Called up share capital

100

100

Non-distributable reserve

8

17,740

-

Retained earnings

605,427

571,836

SHAREHOLDERS' FUNDS

623,267

571,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved for issue by the Board of Directors on 28 February 2018 and were signed on its behalf by:

C Board - Director

1.	STATUTORY INFORMATION

Canada Lake Lodge Ltd 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to

the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

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 as modified by the revaluation of certain assets.

There have been no material departures from Financial Reporting Standard 102 1A.

These financial statements for the year ended 31 March 2017 are the first financial statements that comply with

Financial Reporting Standard 102 1A. The date of transition is 1 April 2015.

The transition to Financial Reporting Standard 102 1A has resulted in no changes to existing accounting

policies.

Turnover

Turnover represents amounts receivable in respect of the provision of a venue for weddings and other events

during the year, exclusive of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Current tax

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and

is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

Investments

Investments in shares are included at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - 1 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2016

and 31 March 2017

81,064

DEPRECIATION

At 1 April 2016

78,719

Charge for year

1,156

At 31 March 2017

79,875

NET BOOK VALUE

At 31 March 2017

1,189

At 31 March 2016

2,345

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2016

100,000

Revaluations

20,740

At 31 March 2017

120,740

NET BOOK VALUE

At 31 March 2017

120,740

At 31 March 2016

100,000

Listed investments are valued at the current bid price at the balance sheet date.

6.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

6,665

-

Other debtors

464,850

310,596

Prepayments

3,113

2,321

474,628

312,917

Amounts falling due after more than one year:

Deferred tax asset

-

2,495

Aggregate amounts

474,628

315,412

The deferred tax asset comprises the tax effect of excess depreciation charged in the accounts over capital

allowances claimed.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Corporation tax

10,677

9,860

Deposits in advance

175,038

101,124

Shareholder loan

-

60,633

Director's current account

161,652

58,325

Accrued expenses

2,940

4,500

350,307

234,442

8.

RESERVES

Non-distributable

reserve

£

Revaluation

20,740

Deferred tax on revaluation

(3,000

)

At 31 March 2017

17,740