W Lancaster & Co Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 00113905 (England and Wales)

Financial Statements for the Year Ended 31 January 2018

for

W Lancaster & Co Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J D Emanuel

Mrs J N Emanuel

SECRETARY:

J D Emanuel

REGISTERED OFFICE:

Hewenden Mill

Cullingworth

Bradford

BD13 5BP

REGISTERED NUMBER:

00113905 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

2nd Floor, Woodside House

261 Low Lane

Horsforth

Leeds

West Yorkshire

LS18 5NY

FIXED ASSETS

Tangible assets

4

2,630,768

2,624,741

CURRENT ASSETS

Debtors

5

2,233

2,100

Cash at bank

7,417

25,658

9,650

27,758

CREDITORS

Amounts falling due within one year

6

206,090

28,549

NET CURRENT LIABILITIES

(196,440

)

(791

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,434,328

2,623,950

CREDITORS

Amounts falling due after more than one year

7

177,132

351,500

NET ASSETS

2,257,196

2,272,450

CAPITAL AND RESERVES

Called up share capital

20,239

20,239

Share premium

1,289,011

1,289,011

Other reserves

14,500

14,500

Retained earnings

933,446

948,700

SHAREHOLDERS' FUNDS

2,257,196

2,272,450

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 16 April 2018 and were signed on its behalf by:

Mrs J N Emanuel - Director

1.	STATUTORY INFORMATION

W Lancaster & Co 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 comprises income derived from the provision of furnished holiday letting accommodation

and ancillary services. Revenue is recognised once a customers stay at the accommodation is

complete.

Tangible fixed assets

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

Freehold property

-

not provided

Fixtures and fittings

-

20% on cost and 10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on reducing balance

No depreciation is provided on freehold buildings used to provide holiday letting accommodation

because the useful lives and residual values of such buildings are considered to be such that any

depreciation would not be material.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in

non-convertible preference and non-puttable ordinary shares which are measured at fair value, with

changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and

thereafter at fair value with changes recognised in profit or loss.

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.

Pension costs and other post-retirement benefits

The company operates a money purchase pension scheme for directors and employees. The scheme's

funds are administered by trustees and are independent of the company's finances.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2017

2,599,082

204,798

17,973

9,718

2,831,571

Additions

-

4,866

16,000

-

20,866

At 31 January 2018

2,599,082

209,664

33,973

9,718

2,852,437

DEPRECIATION

At 1 February 2017

11,891

173,405

15,539

5,995

206,830

Charge for year

-

7,164

6,434

1,241

14,839

At 31 January 2018

11,891

180,569

21,973

7,236

221,669

NET BOOK VALUE

At 31 January 2018

2,587,191

29,095

12,000

2,482

2,630,768

At 31 January 2017

2,587,191

31,393

2,434

3,723

2,624,741

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/18

31/1/17

£

£

Other debtors

2,233

2,100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/18

31/1/17

£

£

Trade creditors

4,872

6,341

Taxation and social security

8,956

6,167

Other creditors

192,262

16,041

206,090

28,549

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/1/18

31/1/17

£

£

Other creditors

177,132

351,500

Amounts falling due in more than five years:

Repayable by instalments

Other loans

-

175,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2018 and

31 January 2017:

31/1/18

31/1/17

£

£

J D Emanuel and Mrs J N Emanuel

Balance outstanding at start of year

(176,500

)

(176,857

)

Amounts advanced

34,154

45,028

Amounts repaid

(34,787

)

(44,671

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(177,133

)

(176,500

)

9.	RELATED PARTY DISCLOSURES