Porthleven Holiday Cottages Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07025543 (England and Wales)

Porthleven Holiday Cottages Limited

Unaudited Financial Statements

for the Year Ended 30 September 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

T Osborne

SECRETARY:

REGISTERED OFFICE:

Lakeside Offices

The Old Cattle Market

Coronation Park

Helston

Cornwall

TR13 0SR

REGISTERED NUMBER:

07025543 (England and Wales)

ACCOUNTANTS:

Atkins Ferrie Chartered Accountants

Lakeside Offices

The Old Cattle Market

Coronation Park

Helston

Cornwall

TR13 0SR

FIXED ASSETS

Tangible assets

4

3,009

2,262

CURRENT ASSETS

Debtors

5

118,613

4,899

Cash at bank and in hand

146,449

120,959

265,062

125,858

CREDITORS

Amounts falling due within one year

6

443,597

331,272

NET CURRENT LIABILITIES

(178,535

)

(205,414

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(175,526

)

(203,152

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(175,527

)

(203,153

)

(175,526

)

(203,152

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 24 January 2019 and were signed by:

T Osborne - Director

1.	STATUTORY INFORMATION

Porthleven Holiday Cottages 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.

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

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 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.

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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.

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.

Going concern

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2017

3,930

7,212

11,142

Additions

-

2,716

2,716

At 30 September 2018

3,930

9,928

13,858

DEPRECIATION

At 1 October 2017

3,603

5,277

8,880

Charge for year

327

1,642

1,969

At 30 September 2018

3,930

6,919

10,849

NET BOOK VALUE

At 30 September 2018

-

3,009

3,009

At 30 September 2017

327

1,935

2,262

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

74,247

421

Amounts recoverable on contract

35,020

-

Other debtors

9,346

4,478

118,613

4,899

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

402,440

284,502

Taxation and social security

27,784

32,586

Other creditors

13,373

14,184

443,597

331,272

7.	RELATED PARTY DISCLOSURES