Glenthorne Guest House Limited Company Accounts

GLENTHORNE GUEST HOUSE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06895868

Glenthorne Guest House Limited

Filleted Unaudited Financial Statements

30 November 2017

Glenthorne Guest House Limited

Financial Statements

Year ended 30 November 2017

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 4

Glenthorne Guest House Limited

Statement of Financial Position

30 November 2017

	2017	2016
Note	£	£

Current assets

Debtors	4	1,094	–
Cash at bank and in hand		8,482	11,242
		--------	---------
		9,576	11,242

Creditors: amounts falling due within one year	5	( 9,574)	( 11,240)
		--------	---------
Net current assets		2	2
		-----	-----
Total assets less current liabilities		2	2
		-----	-----
Net assets		2	2
		-----	-----

Capital and reserves

Called up share capital	2	2
	-----	-----
Shareholders funds	2	2
	-----	-----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Glenthorne Guest House Limited

Statement of Financial Position (continued)

30 November 2017

These financial statements were approved by the board of directors and authorised for issue on 17 April 2018 , and are signed on behalf of the board by:

Mr A Robinson

Director

Company registration number: 06895868

Glenthorne Guest House Limited

Notes to the Financial Statements

Year ended 30 November 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Glenthorne Guest House, Easedale Road, Grasmere, Ambleside, Cumbria, LA22 9QH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There were no significant judgements or key sources of estimation uncertainty during the year.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

4. Debtors

	2017	2016
	£	£
Other debtors	1,094	–
	--------	-----

5. Creditors: amounts falling due within one year

	2017	2016
	£	£
Social security and other taxes	–	283
Licence fee & service charges owed to parent charity	356	–
Gift aid donation owed to parent charity	7,888	9,957
Other creditors	1,330	1,000
	--------	---------
	9,574	11,240
	--------	---------

6. Related party transactions

All licence fees and service charges incurred are payable to the ultimate parent charity, Glenthorne Quaker Centre. All charitable gift aid donations are payable to the parent charity. No other transactions with related parties were undertaken such as are required to be disclosed under FRS102 Section 1A.

7. Controlling party

The company is the wholly-owned trading subsidiary of Glenthorne Quaker Centre, a registered charity (number 232575) governed by a declaration of trust dated 28 September 1963 and a scheme ordered by the Charity Commission on 27 August 2009. The trade is carried out under the terms of a Licence and Memorandum of Understanding dated 29 June 2009 between the charity and the company.