Gladstone Lodge Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05471979 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

Gladstone Lodge Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs V A Johnson

REGISTERED OFFICE:

81 Church Lane

Cossall

Nottinghamshire

NG16 2RW

REGISTERED NUMBER:

05471979 (England and Wales)

ACCOUNTANTS:

LING PHIPP

Cliffe Hill House

22-26 Nottingham Road

Stapleford

Nottingham

NG9 8AA

FIXED ASSETS

Tangible assets

4

118,997

104,957

CURRENT ASSETS

Stocks

1,400

1,500

Debtors

5

1,964

-

Cash at bank and in hand

1,421

3,657

4,785

5,157

CREDITORS

Amounts falling due within one year

6

32,848

12,849

NET CURRENT LIABILITIES

(28,063

)

(7,692

)

TOTAL ASSETS LESS CURRENT LIABILITIES

90,934

97,265

CREDITORS

Amounts falling due after more than one year

7

(58,381

)

(61,872

)

PROVISIONS FOR LIABILITIES

(1,298

)

(1,187

)

NET ASSETS

31,255

34,206

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

31,254

34,205

SHAREHOLDERS' FUNDS

31,255

34,206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director on 22 February 2018 and were signed by:

Mrs V A Johnson - Director

1.	STATUTORY INFORMATION

Gladstone Lodge 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.

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 each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

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.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2016

112,222

13,842

126,064

Additions

14,681

3,178

17,859

At 30 June 2017

126,903

17,020

143,923

DEPRECIATION

At 1 July 2016

13,200

7,907

21,107

Charge for year

1,538

2,281

3,819

At 30 June 2017

14,738

10,188

24,926

NET BOOK VALUE

At 30 June 2017

112,165

6,832

118,997

At 30 June 2016

99,022

5,935

104,957

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Other debtors

1,964

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Bank loans and overdrafts

3,492

3,268

Taxation and social security

689

2,115

Other creditors

28,667

7,466

32,848

12,849

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.17

30.6.16

£

£

Bank loans

58,381

61,872

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

41,865

46,415

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.17

30.6.16

£

£

Bank loans

61,873

65,140

Lloyds Bank PLC hold a fixed and floating charge dated 5 June 2014 over the company's freehold property.