Oriel Lodge Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10796473 (England and Wales)

Unaudited Financial Statements

for the Period 31 May 2017 to 31 May 2018

for

Oriel Lodge Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B E Raja

REGISTERED OFFICE:

147 Hampstead Way

London

NW11 7YA

REGISTERED NUMBER:

10796473 (England and Wales)

FIXED ASSETS

Intangible assets

4

121,333

Tangible assets

5

1,124,311

1,245,644

CURRENT ASSETS

Stocks

1,500

Debtors

6

58,848

Cash at bank

125,128

185,476

CREDITORS

Amounts falling due within one year

7

124,572

NET CURRENT ASSETS

60,904

TOTAL ASSETS LESS CURRENT LIABILITIES

1,306,548

CREDITORS

Amounts falling due after more than one year

8

1,265,835

NET ASSETS

40,713

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

40,613

SHAREHOLDERS' FUNDS

40,713

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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 31 January 2019 and were signed by:

B E Raja - Director

1.	STATUTORY INFORMATION

Oriel Lodge 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

1% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

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

moving items.

Taxation

Taxation for the period 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 19 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

130,000

At 31 May 2018

130,000

AMORTISATION

Amortisation for period

8,667

At 31 May 2018

8,667

NET BOOK VALUE

At 31 May 2018

121,333

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

Additions

1,039,000

100,088

2,945

614

1,142,647

At 31 May 2018

1,039,000

100,088

2,945

614

1,142,647

DEPRECIATION

Charge for period

6,927

11,254

116

39

18,336

At 31 May 2018

6,927

11,254

116

39

18,336

NET BOOK VALUE

At 31 May 2018

1,032,073

88,834

2,829

575

1,124,311

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

58,848

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

31,376

Trade creditors

3,511

Taxation and social security

1,440

Other creditors

88,245

124,572

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

835,835

Other creditors

430,000

1,265,835

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

60

Ordinary Shares A

£1

60

40

Ordinary B

£1

40

100

The following shares were allotted and fully paid for cash at par during the period:

60 Ordinary Shares A shares of £1 each

40 Ordinary B shares of £1 each

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in creditors is a balance amounting to £441,219 due to the director B.E Raja of which £400,000 is due

after more than one year.