Company Registration No. 4605339 (England and Wales)
Lodge Initiatives Ltd
Unaudited accounts
for the year ended 31 December 2017
Lodge Initiatives Ltd
Unaudited accounts
Contents
Lodge Initiatives Ltd
Company Information
for the year ended 31 December 2017
Company Number
4605339 (England and Wales)
Registered Office
Kings Court
Prince William Avenue
Sandycroft
Flintshire
CH5 2QZ
Wales
Accountants
Bayliss Baines Limited
29 Chester Street
Wrexham
LL13 8BG
Lodge Initiatives Ltd
Statement of financial position
as at 31 December 2017
Tangible assets
166,944
90,309
Inventories
802,396
479,178
Cash at bank and in hand
568,604
678,638
Creditors: amounts falling due within one year
(509,291)
(660,390)
Net current assets
1,903,812
1,313,134
Total assets less current liabilities
2,070,756
1,403,443
Provisions for liabilities
Deferred tax
(25,089)
(10,851)
Net assets
2,045,667
1,392,592
Called up share capital
200
200
Profit and loss account
2,045,467
1,392,392
Shareholders' funds
2,045,667
1,392,592
For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 28 March 2018.
A K Duckers
Director
Company Registration No. 4605339
Lodge Initiatives Ltd
Notes to the Accounts
for the year ended 31 December 2017
Lodge Initiatives Ltd is a private company, limited by shares, registered in England and Wales, registration number 4605339. The registered office is Kings Court, Prince William Avenue, Sandycroft, Flintshire, CH5 2QZ, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing Balance Basis
Fixtures & fittings
20% Reducing Balance Basis
Computer equipment
25% Reducing Balance Basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Lodge Initiatives Ltd
Notes to the Accounts
for the year ended 31 December 2017
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Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2017
93,860
40,801
65,817
200,478
Additions
52,738
96,176
10,764
159,678
Disposals
(36,770)
(21,786)
(41,895)
(100,451)
At 31 December 2017
109,828
115,191
34,686
259,705
At 1 January 2017
44,011
19,490
46,668
110,169
Charge for the year
20,609
21,534
6,330
48,473
On disposals
(16,614)
(13,181)
(36,086)
(65,881)
At 31 December 2017
48,006
27,843
16,912
92,761
At 31 December 2017
61,822
87,348
17,774
166,944
At 31 December 2016
49,849
21,311
19,149
90,309
Finished goods
802,396
479,178
Trade debtors
1,012,654
690,685
Accrued income and prepayments
11,375
6,556
Other debtors
18,074
118,467
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Creditors: amounts falling due within one year
2017
2016
Trade creditors
255,172
503,088
Taxes and social security
207,537
145,670
Other creditors
44,632
9,982
8
Deferred taxation
2017
2016
Accelerated capital allowances
25,089
10,851
Lodge Initiatives Ltd
Notes to the Accounts
for the year ended 31 December 2017
Provision at start of year
10,851
9,743
Charged to the profit and loss account
14,238
1,108
Provision at end of year
25,089
10,851
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's Loan Account
41,907
-
41,907
-
Included within debtors is the overdrawn director's loan account of Mr A Duckers amounting to £41,907. The maximum overdrawn balance during the year was £77,720. Since the year end the loan has been fully repaid. Interest is charged monthly on any overdrawn balance at the official rate.
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Average number of employees
During the year the average number of employees was 15 (2016: 11).
