Seadragon Backpackers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06087155 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2018

for

Seadragon Backpackers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs K L Ashton

REGISTERED OFFICE:

Woodsmoke

Flexbury Park Road

Bude

Cornwall

EX23 8HS

REGISTERED NUMBER:

06087155 (England and Wales)

ACCOUNTANTS:

Ghiaci Goodhand Smith Limited

12a Marlborough Place

BRIGHTON

East Sussex

BN1 1WN

FIXED ASSETS

Tangible assets

4

2,826

2,028

CURRENT ASSETS

Debtors

5

967

439

Cash at bank

2,443

1,664

3,410

2,103

CREDITORS

Amounts falling due within one year

6

3,937

13,492

NET CURRENT LIABILITIES

(527

)

(11,389

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,299

(9,361

)

CAPITAL AND RESERVES

Called up share capital

7

20

20

Retained earnings

8

2,279

(9,381

)

SHAREHOLDERS' FUNDS

2,299

(9,361

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 30 November 2018 and were signed by:

Mrs K L Ashton - Director

1.	STATUTORY INFORMATION

Seadragon Backpackers 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 represents net invoiced sales of services, excluding value added tax.

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

-

25% on reducing balance

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 March 2017

14,966

Additions

1,737

At 28 February 2018

16,703

DEPRECIATION

At 1 March 2017

12,938

Charge for year

939

At 28 February 2018

13,877

NET BOOK VALUE

At 28 February 2018

2,826

At 28 February 2017

2,028

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Trade debtors

729

195

Prepayments

238

244

967

439

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Tax

1,633

5

Social security and other taxes

216

941

Director's loan account

1,106

10,528

Accruals and deferred income

382

1,418

Accrued expenses

600

600

3,937

13,492

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.18

28.2.17

value:

£

£

10

A Ordinary

£1

10

10

10

B Ordinary

£1

10

10

20

20

8.

RESERVES

Retained

earnings

£

At 1 March 2017

(9,381

)

Profit for the year

16,660

Dividends

(5,000

)

At 28 February 2018

2,279

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 were paid to the director .

During the year the company occupied, rent free, premises owned by the director. No formal lease

agreement exists.

Administrative expenses includes £3,087 (2017: £6,401) of 'Repairs & renewals' in relation to this

property.

10.	CONTROLLING PARTY

The company was controlled by its director, Mrs K L Ashton, throughout the period.