Way Inn (Berkhamsted) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02501078 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2017

for

Way Inn (Berkhamsted) Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

M L Lindo

C Smith

SECRETARY:

M L Lindo

REGISTERED OFFICE:

268 High Street

Berkhamsted

Hertfordshire

HP4 1AQ

REGISTERED NUMBER:

02501078 (England and Wales)

ACCOUNTANTS:

Stewarts Accountants Limited

271 High Street

Berkhamsted

Hertfordshire

HP4 1AA

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 Income Statement 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 Way Inn (Berkhamsted) Limited for the year ended 30 June 2017 which comprise the Income

Statement, 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 Way Inn (Berkhamsted) 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 Way Inn (Berkhamsted) Limited and state those matters that we have agreed to state to the Board of Directors of Way Inn (Berkhamsted) 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 Way Inn (Berkhamsted) Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Way Inn (Berkhamsted) 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 loss of Way Inn (Berkhamsted) Limited. You consider that Way Inn (Berkhamsted) 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 Way Inn (Berkhamsted) 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.

Stewarts Accountants Limited

271 High Street

Berkhamsted

Hertfordshire

HP4 1AA

22 March 2018

FIXED ASSETS

Intangible assets

4

23,415

25,180

Tangible assets

5

7,069

574

30,484

25,754

CURRENT ASSETS

Stocks

56,098

53,323

Debtors

6

14,766

13,814

Cash at bank

6,742

25,196

77,606

92,333

CREDITORS

Amounts falling due within one year

7

14,723

16,260

NET CURRENT ASSETS

62,883

76,073

TOTAL ASSETS LESS CURRENT LIABILITIES

93,367

101,827

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

93,365

101,825

SHAREHOLDERS' FUNDS

93,367

101,827

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 March 2018 and were signed on its behalf by:

M L Lindo - Director

1.	STATUTORY INFORMATION

Way Inn (Berkhamsted) 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Intangible fixed assets - licence

The Post Office licence, which does not have a defined life span, is being amortised over forty years at a rate of

2.5% per annum.

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 etc

-

20% 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 17 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2016

and 30 June 2017

70,630

AMORTISATION

At 1 July 2016

45,450

Charge for year

1,765

At 30 June 2017

47,215

NET BOOK VALUE

At 30 June 2017

23,415

At 30 June 2016

25,180

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2016

41,204

Additions

8,185

At 30 June 2017

49,389

DEPRECIATION

At 1 July 2016

40,630

Charge for year

1,690

At 30 June 2017

42,320

NET BOOK VALUE

At 30 June 2017

7,069

At 30 June 2016

574

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Amounts owed by group undertakings

14,766

13,575

Other debtors

-

239

14,766

13,814

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade creditors

11,489

8,274

Taxation and social security

3,234

6,184

Other creditors

-

1,802

14,723

16,260

8.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of The Way Inn Christian Centre Trust.