Abersoch Bay Hotels Ltd Small abbreviated accounts

COMPANY REGISTRATION NUMBER 5397644

ABERSOCH BAY HOTELS LTD

UNAUDITED ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

30 April 2016

LAUD MEREDITH & CO

Chartered Accountants

92 - 94 High Street

Porthmadog

Gwynedd

LL49 9NW

ABERSOCH BAY HOTELS LTD

ABBREVIATED BALANCE SHEET

30 April 2016

	2016	2015
Note	£	£	£
FIXED ASSETS	2
Intangible assets		21,571	26,454
Tangible assets		20,150	25,735
		---------	---------
		41,721	52,189
		---------	---------

CURRENT ASSETS

Stocks	980		710
Debtors	2,187		2,149
Cash at bank and in hand	3,952		4,325
	-------		-------
	7,119		7,184
CREDITORS: Amounts falling due within one year	23,976		18,388
	---------		---------
NET CURRENT LIABILITIES		( 16,857)	( 11,204)
		---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		24,864	40,985
		---------	---------

CAPITAL AND RESERVES

Called up equity share capital	3		100	100
Profit and loss account		24,764	40,885
		---------	---------
SHAREHOLDERS' FUNDS		24,864	40,985
		---------	---------

For the year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 17 January 2017 , and are signed on their behalf by:

Mr M A Gauci

Company Registration Number: 5397644

ABERSOCH BAY HOTELS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 30 APRIL 2016

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill- £4,883 per annum

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold Property-Straight line over period of the lease

Plant & Machinery-25% on a reducing balance basis

Stocks

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

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2. FIXED ASSETS

Intangible Assets	Tangible Assets	Total
£	£	£

COST

At 1 May 2015 and 30 April 2016	35,000	36,372	71,372
	---------	---------	---------

DEPRECIATION

At 1 May 2015	8,546	10,637	19,183
Charge for year	4,883	5,585	10,468
	---------	---------	---------
At 30 April 2016	13,429	16,222	29,651
	---------	---------	---------

NET BOOK VALUE

At 30 April 2016	21,571	20,150	41,721
	---------	---------	---------

At 30 April 2015	26,454	25,735	52,189
	---------	---------	---------

3. SHARE CAPITAL

Allotted, called up and fully paid:

2016	2015
No	£	No	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----