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REGISTERED NUMBER: 04585107 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2018

for

The Red Lion Inn (Babcary) Limited

The Red Lion Inn (Babcary) Limited (Registered number: 04585107)






Contents of the Financial Statements
for the Year Ended 31 March 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Red Lion Inn (Babcary) Limited

Company Information
for the Year Ended 31 March 2018







DIRECTORS: Mr C R Garrard
Mrs C N Garrard





REGISTERED OFFICE: The Red Lion Inn
Babcary
Somerton
Somerset
TA11 7ED





REGISTERED NUMBER: 04585107 (England and Wales)





ACCOUNTANTS: Read & Co.
107 North Street
Martock
Somerset
TA12 6EJ

The Red Lion Inn (Babcary) Limited (Registered number: 04585107)

Balance Sheet
31 March 2018

31.3.18 31.3.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 586,804 600,577
586,804 600,577

CURRENT ASSETS
Stocks 12,849 10,720
Debtors 6 26,458 68,608
Cash at bank and in hand 25,810 22,413
65,117 101,741
CREDITORS
Amounts falling due within one year 7 148,503 127,274
NET CURRENT LIABILITIES (83,386 ) (25,533 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

503,418

575,044

CREDITORS
Amounts falling due after more than one
year

8

(383,794

)

(396,151

)

PROVISIONS FOR LIABILITIES 9 (10,651 ) (11,639 )
NET ASSETS 108,973 167,254

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 108,873 167,154
SHAREHOLDERS' FUNDS 108,973 167,254

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Red Lion Inn (Babcary) Limited (Registered number: 04585107)

Balance Sheet - continued
31 March 2018


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 Board of Directors on 13 November 2018 and were signed on its behalf
by:





Mr C R Garrard - Director


The Red Lion Inn (Babcary) Limited (Registered number: 04585107)

Notes to the Financial Statements
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

The Red Lion Inn (Babcary) 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 2003, was amortised evenly
over its estimated useful life of 10 years and is now wholly amortised.

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.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost and 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 year 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2017 - 35 ) .

The Red Lion Inn (Babcary) Limited (Registered number: 04585107)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2017
and 31 March 2018 10,000
AMORTISATION
At 1 April 2017
and 31 March 2018 10,000
NET BOOK VALUE
At 31 March 2018 -
At 31 March 2017 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2017 658,405 178,101 836,506
Additions 5,359 4,045 9,404
At 31 March 2018 663,764 182,146 845,910
DEPRECIATION
At 1 April 2017 119,086 116,843 235,929
Charge for year 13,275 9,902 23,177
At 31 March 2018 132,361 126,745 259,106
NET BOOK VALUE
At 31 March 2018 531,403 55,401 586,804
At 31 March 2017 539,319 61,258 600,577

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Other debtors 26,458 68,608

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Bank loans and overdrafts 61,770 34,448
Trade creditors 41,441 30,200
Corporation tax 9,350 23,154
Social security and other taxes 4,154 5,116
VAT 20,961 21,847
Other creditors 8,875 12,360
Accrued expenses 1,952 149
148,503 127,274

The Red Lion Inn (Babcary) Limited (Registered number: 04585107)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.18 31.3.17
£    £   
Bank loans - 1-2 years 34,205 37,893
Bank loans - 2-5 years 109,615 111,956
Bank loans more 5 yrs non-inst 239,974 246,302
383,794 396,151

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 239,974 246,302

9. PROVISIONS FOR LIABILITIES
31.3.18 31.3.17
£    £   
Deferred tax 10,651 11,639

Deferred
tax
£   
Balance at 1 April 2017 11,639
Credit to Income Statement during year (988 )
Balance at 31 March 2018 10,651

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.18 31.3.17
value: £    £   
100 Ordinary £1.00 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2017 167,154
Profit for the year 21,719
Dividends (80,000 )
At 31 March 2018 108,873

The Red Lion Inn (Babcary) Limited (Registered number: 04585107)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

12. RELATED PARTY DISCLOSURES

Dividends amounting to £70,000 were paid to the directors during the year (2017: £60,000)

TRANSACTIONS WITH DIRECTORS

The company operates current accounts with the directors and the activity during the year was as follows:
31.3.18 31.3.17
Mr C R Garrard £    £   
Amount owed (by)/to director at end of year (12,379 ) (33,127 )
Amount owed (by)to director at start of year (33,127 ) 1,184

31.3.18 31.3.17
Mrs C N Garrard £    £   
Amount owed (by)/to director at end of year (12,764 ) (33,513 )
Amount owed (by)/to director at start of year (33,513 ) 1,428

The amounts owed to the directors are interest free and repayable on demand.

The company is controlled jointly by the directors and shareholders and has no ultimate controlling party.