Company Registration No. 12511582 (England and Wales)
LODGE HOUSE 20 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
LODGE HOUSE 20 LIMITED
COMPANY INFORMATION
Directors
Mr I Singh
Mr R Singh
Mrs S Kaur
(Appointed 1 September 2021)
Company number
12511582
Registered office
18 Ombersley Street West
Droitwich
WR9 8HZ
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
4 The Cross
Worcester
Worcestershire
WR1 3PY
LODGE HOUSE 20 LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
LODGE HOUSE 20 LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LODGE HOUSE 20 LIMITED FOR THE YEAR ENDED 31 MARCH 2022
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lodge House 20 Limited for the year ended 31 March 2022 which comprise, the balance sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Lodge House 20 Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lodge House 20 Limited and state those matters that we have agreed to state to the Board of Directors of Lodge House 20 Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lodge House 20 Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Lodge House 20 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lodge House 20 Limited. You consider that Lodge House 20 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lodge House 20 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
25 August 2022
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
LODGE HOUSE 20 LIMITED
BALANCE SHEET
AS AT 31 MARCH 2022
31 March 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
380,267
374,560
Current assets
Debtors
4
-
0
209
Cash at bank and in hand
20,407
23,421
20,407
23,630
Creditors: amounts falling due within one year
5
(329,921)
(343,274)
Net current liabilities
(309,514)
(319,644)
Total assets less current liabilities
70,753
54,916
Creditors: amounts falling due after more than one year
6
(30,787)
(50,000)
Provisions for liabilities
7
(1,881)
(796)
Net assets
38,085
4,120
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
37,985
4,020
Total equity
38,085
4,120

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

LODGE HOUSE 20 LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2022
31 March 2022
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 25 August 2022 and are signed on its behalf by:
Mr I Singh
Director
Company Registration No. 12511582
LODGE HOUSE 20 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
1
Accounting policies
Company information

Lodge House 20 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 18 Ombersley Street West, Droitwich, Worcestershire, WR9 8HZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Nil
Plant and equipment
20% on reducing balance
Fixtures and fittings
20% on reducing balance
Computer equipment
33% on cost

No depreciation is provided on freehold property. This treatment may be a departure from the requirements of Companies Act 2006 concerning depreciation of fixed assets, however, the company follows a program of regular refurbishment and maintenance of its properties, which includes the reinstatement of the fabric of the buildings where necessary in order to maintain them to a high standard. Accordingly, in the opinion of the directors, any element of depreciation would be immaterial and no provision has been made, as the residual value would be in excess of cost.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LODGE HOUSE 20 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2021 - 3).

3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computer equipment
Total
£
£
£
£
£
Cost
At 1 April 2021
370,369
-
0
4,110
1,349
375,828
Additions
-
0
392
8,323
-
0
8,715
At 31 March 2022
370,369
392
12,433
1,349
384,543
Depreciation and impairment
At 1 April 2021
-
0
-
0
823
445
1,268
Depreciation charged in the year
-
0
78
2,485
445
3,008
At 31 March 2022
-
0
78
3,308
890
4,276
Carrying amount
At 31 March 2022
370,369
314
9,125
459
380,267
At 31 March 2021
370,369
-
0
3,287
904
374,560
LODGE HOUSE 20 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
-
0
209
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
11,717
-
0
Trade creditors
188
-
0
Taxation and social security
8,232
327
Other creditors
309,784
342,947
329,921
343,274
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
30,787
50,000
7
Provisions for liabilities
2022
2021
£
£
Deferred tax liabilities
1,881
796
8
Secured debts
The following secured debts are included within creditors:
2022
2021
£
£
Bank loans
42,504
50,000
Bank loans are secured by way of a fixed government-backed guarantee.
LODGE HOUSE 20 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 7 -
9
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100
100
100
10
Ultimate controlling party

The ultimate controlling party is Mr R Singh.

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