Lighthouse Restaurants Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08274534 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

LIGHTHOUSE RESTAURANTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr LM Poli

Mrs SL Poli

REGISTERED OFFICE:

9 Station Street

Kibworth Beauchamp

Leicester

LE8 0LN

REGISTERED NUMBER:

08274534 (England and Wales)

FIXED ASSETS

Tangible assets

4

9,012

8,717

CURRENT ASSETS

Stocks

15,875

17,080

Debtors

5

789

1,091

Cash at bank and in hand

32,297

32,698

48,961

50,869

CREDITORS

Amounts falling due within one year

6

56,352

53,377

NET CURRENT LIABILITIES

(7,391

)

(2,508

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,621

6,209

PROVISIONS FOR LIABILITIES

1,461

1,415

NET ASSETS

160

4,794

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

158

4,792

SHAREHOLDERS' FUNDS

160

4,794

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 10 May 2018 and were signed on its behalf by:

Mr LM Poli - Director

Mrs SL Poli - Director

1.	STATUTORY INFORMATION

Lighthouse Restaurants 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

Revenue comprises the fair value of the sale of services, excluding value added tax.

The company provides services to customers under standard terms and conditions. In all cases revenue is

recognised when the risks and rewards of ownership are transferred and this is defined to be on completion of

services.

TANGIBLE FIXED ASSETS

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

Fixtures and fittings

-

15% 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 tax is recognised at the amount of tax payable using the tax rates and laws that 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective

interest method, less any impairment.

CREDITORS

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,

are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost

using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2016 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2017

12,339

Additions

1,885

At 31 December 2017

14,224

DEPRECIATION

At 1 January 2017

3,622

Charge for year

1,590

At 31 December 2017

5,212

NET BOOK VALUE

At 31 December 2017

9,012

At 31 December 2016

8,717

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Prepayments

789

1,091

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

22,009

23,665

Taxation

1,300

2,983

Paye/Ni payable

4,520

2,302

VAT

22,629

19,789

Other creditors

76

-

Directors' loan accounts

-

38

Accrued expenses

5,818

4,600

56,352

53,377

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year rent of £34,200 (2016 : £34,200) was paid to Mr and Mrs LM Poli, directors of the company, for

the use of the property. The amounts outstanding at the year end was £2,850 (2016 : £3,510).

9.	RELATED PARTY DISCLOSURES

During the year the company sold goods and services in the normal course of business to Boboli Restaurants

Limited amounting to £96,255 (2016 : £72,452). The company also purchased goods and services in the normal

course of business to Boboli Restaurants Limited amounting to £45,684 (2016 : £44,035). The balance owed to

the company by Boboli Restaurants Limited at 31 December 2017 amounted to £Nil (2016 : £Nil ). The balance

owed by the company to Boboli Restaurants Limited at 31 December 2017 amounted to £7,231 (2016 : £3,666).

Mr and Mrs LM Poli, directors of the company, are also directors and shareholders of Boboli Restaurants

Limited.

At 31 December 2017 the balance owed by the company on the director's loan account was £Nil (2016 : £38).

During the year the company paid dividends of £5,250 (2016: £6,000) to each of the directors of the company.