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COMPANY REGISTRATION NUMBER 04480966
POLVELLAN MANOR LIMITED
FINANCIAL STATEMENTS
31 July 2016
J D ACCOUNTANCY
Accountants
Unit 3,
37 Watling Street,
Leintwardine,
Shropshire,
SY7 0LW
POLVELLAN MANOR LIMITED
DIRECTOR'S REPORT
YEAR ENDED 31 JULY 2016
The director presents her report and the unaudited financial statements of the company for the year ended 31 July 2016.
PRINCIPAL ACTIVITIES
The principal activity of the company during the year was Publicans and Hoteliers.
THE DIRECTOR AND HER INTERESTS IN THE SHARES OF THE COMPANY
The director who served the company during the year together with her beneficial interests, including family holdings, in the shares of the company was as follows:
Ordinary Shares of £1 each
At 31 July 2016
At 1 August 2015
Mrs D Y Oswald
10,000
10,000
---------
---------
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Registered office: Signed by
Unit 3
37 Watling Street
Leintwardine
Craven Arms
Shropshire
SY7 0LW
D Y Oswald
Director
Approved by the director on 15 December 2016
POLVELLAN MANOR LIMITED
PROFIT AND LOSS ACCOUNT
YEAR ENDED 31 JULY 2016
2016
2015
Note
£
£
TURNOVER
193,203
632,343
Cost of sales
( 608,902)
350,641
----------
----------
GROSS PROFIT
802,105
281,702
Administrative expenses
80,615
199,042
----------
----------
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION
721,490
82,660
Tax on profit on ordinary activities
----------
---------
PROFIT FOR THE FINANCIAL YEAR
721,490
82,660
----------
---------
POLVELLAN MANOR LIMITED
BALANCE SHEET
31 July 2016
2016
2015
Note
£
£
£
FIXED ASSETS
Intangible assets
3
Tangible assets
4
1,786,018
----
-------------
1,786,018
----
-------------
CURRENT ASSETS
Stocks
9,426
Debtors
5
14,897
Cash at bank
2,145
44,381
-------
---------
2,145
68,704
CREDITORS: Amounts falling due within one year
6
60,976
2,635,043
---------
-------------
NET CURRENT LIABILITIES
( 58,831)
( 2,566,339)
---------
-------------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 58,831)
( 780,321)
---------
-------------
CAPITAL AND RESERVES
Called up equity share capital
7
10,000
10,000
Other reserves
8
707,704
Profit and loss account
9
( 776,535)
( 790,321)
----------
----------
DEFICIT
( 58,831)
( 780,321)
----------
----------
For the year ended 31 July 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 accounts for the year in question in accordance with section 476; and
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
These accounts were approved and signed by the director and authorised for issue on 15 December 2016 .
Mrs D Y Oswald Director
Company Registration Number: 04480966
POLVELLAN MANOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 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-10% Reducing Balance
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:
Plant & Machinery-15% Reducing Balance
Motor Vehicles-20% 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.
2. OPERATING PROFIT
Operating profit is stated after charging/(crediting):
2016
2015
£
£
Director's remuneration
6,000
Depreciation of owned fixed assets
16,605
Profit on disposal of fixed assets
( 707,704)
----------
---------
3. INTANGIBLE ASSETS
Goodwill
£
COST
At 1 August 2015 and 31 July 2016
55,000
---------
AMORTISATION
At 1 August 2015 and 31 July 2016
55,000
---------
NET BOOK VALUE
At 31 July 2016
----
At 31 July 2015
----
4. TANGIBLE ASSETS
Freehold Property
Plant & Machinery
Motor Vehicles
Total
£
£
£
£
COST
At 1 August 2015
1,694,036
386,201
45,978
2,126,215
Disposals
( 1,694,036)
( 86,897)
( 5,085)
( 1,786,018)
-------------
----------
---------
-------------
At 31 July 2016
299,304
40,893
340,197
-------------
----------
---------
-------------
DEPRECIATION
At 1 August 2015 and 31 July 2016
299,304
40,893
340,197
----
----------
---------
----------
NET BOOK VALUE
At 31 July 2016
----
----
----
----
At 31 July 2015
1,694,036
86,897
5,085
1,786,018
-------------
---------
-------
-------------
5. DEBTORS
2016
2015
£
£
Trade debtors
14,897
----
---------
6. CREDITORS: Amounts falling due within one year
2016
2015
£
£
Trade creditors
3,680
34,517
Other creditors
57,296
2,600,526
---------
-------------
60,976
2,635,043
---------
-------------
7. SHARE CAPITAL
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary shares of £ 1 each
10,000
10,000
10,000
10,000
---------
---------
---------
---------
8. OTHER RESERVES
2016
2015
£
£
Transfer from the Profit and Loss Account
707,704
----------
----
9. PROFIT AND LOSS ACCOUNT
2016
2015
£
£
Balance brought forward
( 790,321)
( 872,981)
Profit for the financial year
721,490
82,660
Transfer to capital redemption reserve
(707,704)
----------
----------
Balance carried forward
( 776,535)
( 790,321)
----------
----------
POLVELLAN MANOR LIMITED
MANAGEMENT INFORMATION
YEAR ENDED 31 JULY 2016
The following page does not form part of the statutory financial statements .
POLVELLAN MANOR LIMITED
DETAILED PROFIT AND LOSS ACCOUNT
YEAR ENDED 31 JULY 2016
2016
2015
£
£
£
TURNOVER
193,203
632,343
COST OF SALES
Opening stock - finished goods
9,426
12,154
Purchases
65,426
199,622
Direct wages
23,950
148,291
Profit on disposal of fixed assets
(707,704)
----------
----------
( 608,902)
360,067
Closing stock - finished goods
(9,426)
----------
----------
( 608,902)
350,641
----------
----------
GROSS PROFIT
802,105
281,702
----------
----------
OVERHEADS
Administrative expenses
80,615
199,042
----------
----------
PROFIT ON ORDINARY ACTIVITIES
721,490
82,660
----------
----------
NOTES:
ADMINISTRATIVE EXPENSES
Personnel costs
Directors salaries
6,000
Establishment expenses
Rent, rates and water
16,887
33,976
Light and heat
35,010
68,829
Insurance
5,067
10,155
Repairs and maintenance (allowable)
5,972
21,799
---------
----------
62,936
134,759
----------
General expenses
Motor expenses
2,092
9,292
Telephone
1,680
4,622
Printing, stationery and postage
1,395
2,954
Laundry and cleaning
2,398
9,242
Advertising
3,655
4,592
Accountancy fees
3,784
6,323
Depreciation
16,605
---------
---------
15,004
53,630
----------
Financial costs
Bank charges
2,675
4,653
---------
----------
80,615
199,042
---------
----------