| Dougal Inns Limited |
| Registered number: |
07083523 |
| Balance Sheet |
| as at 31 March 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
1,718,321 |
|
|
985,471 |
|
| Current assets |
| Stocks |
|
|
42,004 |
|
|
33,797 |
| Debtors |
3 |
|
359,614 |
|
|
626,446 |
| Cash at bank and in hand |
|
|
106,100 |
|
|
352,277 |
|
|
|
507,718 |
|
|
1,012,520 |
|
| Creditors: amounts falling due within one year |
4 |
|
(555,062) |
|
|
(338,435) |
|
| Net current (liabilities)/assets |
|
|
|
(47,344) |
|
|
674,085 |
|
| Total assets less current liabilities |
|
|
|
1,670,977 |
|
|
1,659,556 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(926,993) |
|
|
(681,873) |
|
|
|
| Net assets |
|
|
|
743,984 |
|
|
977,683 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
743,982 |
|
|
977,681 |
|
| Shareholders' funds |
|
|
|
743,984 |
|
|
977,683 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| S Nicholson |
| Director |
| Approved by the board on 30 October 2017 |
|
| Dougal Inns Limited |
| Notes to the Accounts |
| for the year ended 31 March 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents gross customer receipts, excluding value added tax. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold buildings |
not depreciated |
|
Long Leasehold land and buildings |
not depreciated |
|
Plant and machinery |
over 5 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Debtors |
|
Short term debtors are measured at transaction value, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequent repayments. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2016 |
936,234 |
|
72,659 |
|
7,668 |
|
1,016,561 |
|
Additions |
748,916 |
|
- |
|
- |
|
748,916 |
|
At 31 March 2017 |
1,685,150 |
|
72,659 |
|
7,668 |
|
1,765,477 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2016 |
- |
|
29,064 |
|
2,026 |
|
31,090 |
|
Charge for the year |
- |
|
14,532 |
|
1,534 |
|
16,066 |
|
At 31 March 2017 |
- |
|
43,596 |
|
3,560 |
|
47,156 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2017 |
1,685,150 |
|
29,063 |
|
4,108 |
|
1,718,321 |
|
At 31 March 2016 |
936,234 |
|
43,595 |
|
5,642 |
|
985,471 |
|
|
| 3 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Other debtors |
359,614 |
|
626,446 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans and overdrafts |
119,641 |
|
47,914 |
|
Trade creditors |
214,559 |
|
93,147 |
|
Corporation tax |
- |
|
154,163 |
|
Other taxes and social security costs |
186,634 |
|
8,948 |
|
Other creditors |
34,228 |
|
34,263 |
|
|
|
|
|
|
555,062 |
|
338,435 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans |
926,993 |
|
681,873 |
|
|
|
|
|
|
|
|
|
|
Bank Loans which total £997,925 ( 2016 - £708,990 ) are secured on the freehold land and |
|
buildings. |
|
The loans are reapyable by instalments. The proportion repayable after 5 years is £643,263. |
|
( 2016 - £488,896 ). |
|
|
| 6 |
Average number of employees |
|
|
The average number of persons employed by the company during the period was 75. |
|
( 2016 - 56 ) |
|
|
| 6 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
S Nicholson |
626,446 |
|
182,788 |
|
471,952 |
|
337,282 |
|
|
The above loan is unsecured, interest free and repayable on demand. |
|
It is the director's intention to repay the balance of the loan by 31 December 2017. |
|
|
| 7 |
Other information |
|
|
Dougal Inns Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Maybrook House |
|
97 Godstone Road |
|
Caterham |
|
Surrey |
|
CR3 6RE |
