Registered number: 12327517
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Forget me not Lodge Limited
Financial statements
Information for filing with the registrar
29 February 2024
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Forget me not Lodge Limited
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Balance sheet
At 29 February 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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1
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Forget me not Lodge Limited
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Balance sheet (continued)
At 29 February 2024
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 August 2024.
Company registered number: 12327517
The notes on pages 3 to 7 form part of these financial statements.
2
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Forget me not Lodge Limited
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Notes to the financial statements
Year ended 29 February 2024
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Citygate, St James' Boulevard, Newcastle upon Tyne, NE1 4JE.
2.Accounting policies
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.
The following principal accounting policies have been applied:
The company continues with the support of its ultimate controlling party Stateplus Limited. The controlling party of the company has at its disposal sufficient resources for the company to continue in operational existence for the foreseeable future
As a consequence, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has therefore adopted the going concern basis of accounting in preparing these financial statements.
Revenue from holiday lettings is recognised over the period in which the accommodation is provided. For bookings received in advance, revenue is deferred and recognised as income over the rental period.
Revenue is measured at the fair value of the consideration received or receivable, net of any discounts or rebates offered.
3
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Forget me not Lodge Limited
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Notes to the financial statements
Year ended 29 February 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
4
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Forget me not Lodge Limited
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Notes to the financial statements
Year ended 29 February 2024
2.Accounting policies (continued)
Tangible fixed assets excluding property are reported under the cost model at their historical cost less accumulated depreciation and any accumulated impairment losses.
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,
over the useful economic life of that asset as follows:
Depreciation is provided on the following basis:
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25% reducing balance method
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Investment property is carried at fair value determined annually by the director and derived from the current market rents and property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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The company has no employees other than the director, who did not receive any remuneration.
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5
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Forget me not Lodge Limited
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Notes to the financial statements
Year ended 29 February 2024
6
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Forget me not Lodge Limited
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Notes to the financial statements
Year ended 29 February 2024
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Prepayments and accrued income
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Allotted, called up and fully paid
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1 (2023 - 1) Ordinary share of £1.00
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The ultimate controlling party for the company was Stateplus Limited, a company registered in England and Wales as the parent company.
7
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