Ladram Bay Caravans Limited Small abridged accounts

Ladram Bay Caravans Limited Small abridged accounts


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Statement of Consent to Prepare Abridged Financial Statements
All of the members of Ladram Bay Caravans Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 08745396
Ladram Bay Caravans Limited
Unaudited Abridged Financial Statements
31 December 2016
Ladram Bay Caravans Limited
Abridged Financial Statements
Year ended 31 December 2016
Contents
Page
Director's report
1
Report to the director on the preparation of the unaudited statutory abridged financial statements
2
Abridged statement of income and retained earnings
3
Abridged statement of financial position
4
Notes to the abridged financial statements
5
The following pages do not form part of the abridged financial statements
Detailed abridged income statement
8
Notes to the detailed abridged income statement
9
Ladram Bay Caravans Limited
Director's Report
Year ended 31 December 2016
The director presents his report and the unaudited abridged financial statements of the company for the year ended 31 December 2016 .
Director
The director who served the company during the year was as follows:
Mr N B Newman
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 28 September 2017 and signed on behalf of the board by:
Mr N B Newman
N B Newman
Director
Company Secretary
Registered office:
72 Cranford Avenue
Exmouth
Devon
EX8 2QF
Ladram Bay Caravans Limited
Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of Ladram Bay Caravans Limited
Year ended 31 December 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Ladram Bay Caravans Limited for the year ended 31 December 2016, which comprise the abridged statement of income and retained earnings, abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
SOUTHON & CO
6 The Parade Chartered Certified Accountants Exmouth Devon EX8 1RL
28 September 2017
Ladram Bay Caravans Limited
Abridged Statement of Income and Retained Earnings
Year ended 31 December 2016
2016
2015
Note
£
£
Gross profit
81,154
62,643
Administrative expenses
92,414
34,581
--------
--------
Operating (loss)/profit
( 11,260)
28,062
Other interest receivable and similar income
52
--------
--------
(Loss)/profit before taxation
( 11,208)
28,062
Tax on (loss)/profit
5,612
--------
--------
(Loss)/profit for the financial year and total comprehensive income
( 11,208)
22,450
--------
--------
Retained earnings at the start of the year
25,188
2,738
--------
--------
Retained earnings at the end of the year
13,980
25,188
--------
--------
All the activities of the company are from continuing operations.
Ladram Bay Caravans Limited
Abridged Statement of Financial Position
31 December 2016
2016
2015
Note
£
£
£
Current assets
Debtors
3,318
1
Cash at bank and in hand
34,105
56,078
--------
--------
37,423
56,079
Creditors: amounts falling due within one year
23,442
30,890
--------
--------
Net current assets
13,981
25,189
--------
--------
Total assets less current liabilities
13,981
25,189
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
13,980
25,188
--------
--------
Members funds
13,981
25,189
--------
--------
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
These abridged financial statements were approved by the board of directors and authorised for issue on 28 September 2017 , and are signed on behalf of the board by:
Mr N B Newman
Director
Company registration number: 08745396
Ladram Bay Caravans Limited
Notes to the Abridged Financial Statements
Year ended 31 December 2016
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 72 Cranford Avenue, Exmouth, EX8 2QF, Devon.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
2016
2015
£
£
Mr N B Newman
1
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5. Related party transactions
The amount due to Brean Sands Limited,a fellow subsidiary, at the year end was £6707 (2015-£6707)
6. Controlling party
The Ultimate Parent Company was N H H Holdings(UK)Limited.
7. Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year.
Ladram Bay Caravans Limited
Management Information
Year ended 31 December 2016
The following pages do not form part of the abridged financial statements.
Ladram Bay Caravans Limited
Detailed Abridged Income Statement
Year ended 31 December 2016
2016
2015
£
£
Turnover
81,154
62,643
--------
--------
Gross profit
81,154
62,643
Overheads
Administrative expenses
Management fees
55,292
3,525
Insurance
447
Repairs and maintenance (allowable)
2,389
2,092
Cleaning costs
10,676
9,583
Sundry expenses
13
26
Advertising
18,804
14,785
Financial costs
300
300
Bank charges
3,690
2,753
Accountancy fees
1,250
1,070
--------
--------
92,414
34,581
--------
--------
Operating (loss)/profit
( 11,260)
28,062
Other interest receivable and similar income
52
--------
--------
(Loss)/profit before taxation
(11,208)
28,062
--------
--------
Ladram Bay Caravans Limited
Notes to the Detailed Abridged Income Statement
Year ended 31 December 2016
2016
2015
£
£
Other interest receivable and similar income
Interest on cash and cash equivalents
52
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----