Orchard Lodges Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09050931 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2018

for

Orchard Lodges Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J C Day

Mr P J Day

REGISTERED OFFICE:

69 High Street

Bideford

Devon

EX39 2AT

REGISTERED NUMBER:

09050931 (England and Wales)

ACCOUNTANTS:

R T Marke & Co Ltd

Chartered Accountants

69 High Street

Bideford

Devon

EX39 2AT

FIXED ASSETS

Tangible assets

5

255,396

276,070

CURRENT ASSETS

Stocks

500

150

Cash at bank and in hand

16,956

19,706

17,456

19,856

CREDITORS

Amounts falling due within one year

127,478

211,805

NET CURRENT LIABILITIES

(110,022

)

(191,949

)

TOTAL ASSETS LESS CURRENT LIABILITIES

145,374

84,121

CREDITORS

Amounts falling due after more than one year

6

(122,931

)

(58,728

)

PROVISIONS FOR LIABILITIES

(13,352

)

(15,637

)

NET ASSETS

9,091

9,756

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9,089

9,754

SHAREHOLDERS' FUNDS

9,091

9,756

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 October 2018 and were signed on its behalf by:

Mr P J Day - Director

Mrs J C Day - Director

1.	STATUTORY INFORMATION

Orchard Lodges Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and

remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover

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

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

Holiday Homes

-

Straight line over 25 years

Fixtures and fittings

-

Straight line over 5 years

Computer equipment

-

Straight line over 5 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating

as intended by management.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in

administrative expenses. Loans and borrowings are initially recognised at the transaction price including

transaction costs.

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.

Going concern

The company has net current liabilities of £110,022 (2017 - £191,949).

The company is reliant on the continuing financial support of its creditors and while there are no reasons to

doubt that this support will continue, inherently there can be no certainty in relation to these matters. On this

basis, and having regard to the company's anticipated future revenues and costs including repayment of debt

where appropriate, together with the expected availability of working capital, the directors consider it

appropriate to prepare the financial statements on the going concern basis. The financial statements do not

include any adjustments that would result from an inability to meet obligations as they fall due.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 8 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2017

333,809

Additions

1,412

At 31 August 2018

335,221

DEPRECIATION

At 1 September 2017

57,739

Charge for year

22,086

At 31 August 2018

79,825

NET BOOK VALUE

At 31 August 2018

255,396

At 31 August 2017

276,070

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2018

2017

£

£

Repayable by instalments

Bank loans due after 5 years

89,711

44,568

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

130,719

62,085

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

£1

2

2