Keswick Bridge Limited - Accounts to registrar - small 17.1.1
Keswick Bridge Limited - Accounts to registrar - small 17.1.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2017 |
| for |
| Keswick Bridge Limited |
| Keswick Bridge Limited (Registered number: 02722384) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Keswick Bridge Limited |
| Company Information |
| for the Year Ended 31 December 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Westminster House |
| 10 Westminster Road |
| Macclesfield |
| Cheshire |
| SK10 1BX |
| Keswick Bridge Limited (Registered number: 02722384) |
| Balance Sheet |
| 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stock |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Fair value reserve | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Keswick Bridge Limited (Registered number: 02722384) |
| Balance Sheet - continued |
| 31 December 2017 |
| 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 |
| Mr S Bowman - Director | Mr D C J Rowntree - Director |
| Mr J P H Shaw - Director |
| Keswick Bridge Limited (Registered number: 02722384) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2017 |
| 1. | STATUTORY INFORMATION |
| Keswick Bridge Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| Turnover |
| Turnover represents net invoiced sales of lodges, excuding value added tax. |
| Stocks |
| Stock of the remaining unsold weeks have been valued by the Directors at their selling price less a percentage |
| for marketing expenses and sales commissions. |
| It also includes 97 lodge weeks that were originally acquired in 1993 which the Directors believe have no value |
| 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 |
| Keswick Bridge Limited (Registered number: 02722384) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Computer |
| land | equipment | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2017 |
| Revaluations |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| and 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| The Directors obtained an independent valuation in June 2006, for bank security purposes, of the land owned by |
| the company.This values the land used for the three new lodges as an undeveloped site at £200,000. On |
| completion of the three new lodges, this value rises to £575,000. |
| The remaining land, excluding the land used for the New Lodges and the land leased to Keswick Bridge Owners |
| Club Ltd with the 20 original lodges, has a value of £1,850,000, once developed in accordance with the original |
| planning consent for holiday lodges.This falls to £1,000,000 if the development relates to social/affordable |
| housing. |
| The Directors had decided previously to revalue the company's freehold land each year at the rate of £6,000 |
| per annum, up unto 2066 when the leasehold reversion takes place. |
| Following sale valuation being received during the year for the land, the directors have decided to revalue in the |
| current year to present an asset fair value of £1,455,000. |
| 5. | FIXED ASSET INVESTMENTS |
| Investments (neither listed nor unlisted) were as follows: |
| 31.12.17 | 31.12.16 |
| £ | £ |
| KT Management Limited | - | 100 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Keswick Bridge Limited (Registered number: 02722384) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 years by |
| installments | 90,287 | 116,862 |
| 90,287 | 116,862 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Bank loans |
| The bank loan is secured by a mortgage on the companies freehold property and land at Brundholme Road, in |
| favour of Lloyds TSB Bank PLC. |
| 10. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 January 2017 |
| Freehold Land Revaluation | 1,089,084 |
| At 31 December 2017 |