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Financial Statements |
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for the Year Ended 30 June 2018 |
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for |
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Anderson Travel Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 30 June 2018 |
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for |
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Anderson Travel Limited |
Anderson Travel Limited (Registered number: 02239051) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2018 |
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Page |
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Abridged Balance Sheet | 1 |
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Notes to the Financial Statements | 2 |
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Anderson Travel Limited (Registered number: 02239051) |
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Abridged Balance Sheet |
30 June 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director on
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Anderson Travel Limited (Registered number: 02239051) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2018 |
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1. | STATUTORY INFORMATION |
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Anderson Travel Limited is a
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company's registered number and registered office address are as below: |
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Registered number: | 02239051 |
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Registered office: | 9 Carlton Road |
New Malden |
Surrey |
KT3 3AJ |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Revenue recognition |
Sales comprise the fair value of the consideration received or receivable for the rendering of services in the |
ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts. |
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The company recognises revenue when the amount of revenue can be reliably measured, it is probable that |
future economic benefits will flow to the entity and when specific criteria have been met for each of the |
company's activities as follows: |
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Revenue from the sale of services is recognised at the point at which those services have been provided to the |
customer. Where payments are received from customers in advance of services provided, the amounts are |
recorded as deferred income and included as part of creditors due within one year. |
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Rental income from operating leases (net of any incentives given to the lessees) is recognised when the right to |
receive payment is established. |
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Tangible fixed assets |
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Freehold property | - |
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Short leasehold | - |
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Coaches | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
Anderson Travel Limited (Registered number: 02239051) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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3. | ACCOUNTING POLICIES - continued |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Depreciation policy for properties |
Depreciation has not been charged on assets recorded as freehold property or long leasehold. The director |
considers that these assets have a useful economic life exceeding 50 years and that they are not depreciating in |
value. The director considers that depreciating these assets would not provide a true and fair view of the state of |
affairs of the company. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 July 2017 |
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Additions |
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Disposals | ( |
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Revaluations |
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At 30 June 2018 |
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DEPRECIATION |
At 1 July 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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At 30 June 2017 |
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Included in cost or valuation of land and buildings is freehold land of £ 750,000 (2017 - £ 288,172 ) which is not |
depreciated. |
Anderson Travel Limited (Registered number: 02239051) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Freehold property, at 178 Tower Bridge Road, has been revalued to fair value at the balance sheet date by the |
director based on their own research and experience. |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Totals |
£ |
COST OR VALUATION |
At 1 July 2017 |
and 30 June 2018 | 5,283,855 |
DEPRECIATION |
At 1 July 2017 | 322,541 |
Charge for year | 510,146 |
At 30 June 2018 | 832,687 |
NET BOOK VALUE |
At 30 June 2018 | 4,451,168 |
At 30 June 2017 | 4,961,314 |
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6. | FIXED ASSET INVESTMENTS |
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The amount included as a fixed asset investment represents the company's capital and current account |
outstanding as at the balance sheet date in in MS Anderson Properties LLP. If the capital or current account |
represent liabilities rather than assets then these financial statements show the net overall position under |
Provisions for Liabilities. |
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Investment in Pershing fund has been revalued to fair value at the balance sheet date by the directors based on |
their own research and experience. |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Hire purchase contracts | 3,328,376 | 4,463,242 |
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The mortgage and hire purchase liabilities are secured on the freehold property asset and vehicle assets, |
respectively, as shown in the fixed asset note. |
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The company's bankers hold a debenture, dated 16 September 1993, over the whole of the company's assets as |
security against short term advances. |
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8. | RESERVES |
Revaluation |
reserve |
£ |
Fixed assets revaluation | 375,806 |
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At 30 June 2018 |
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Anderson Travel Limited (Registered number: 02239051) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | RELATED PARTY DISCLOSURES |
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During the period, the company was under the control of the parent company, Anderson Travel Holdings Limited. |