Registered number |
|
|
|
|
|
|||||||
Registered number: |
|
||||||
Balance Sheet | |||||||
as at |
|||||||
Notes | 2018 | 2017 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 4 |
|
|
||||
Current assets | |||||||
Stocks | - |
|
|||||
Debtors | 5 |
|
|
||||
Cash at bank and in hand |
|
|
|||||
|
|
||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
||||
Net current assets |
|
|
|||||
Total assets less current liabilities |
|
|
|||||
Provisions for liabilities | ( |
( |
|||||
Net assets |
|
|
|||||
Capital and reserves | |||||||
Called up share capital |
|
|
|||||
Comprehensive income hedging reserve | 7 | ( |
( |
||||
Profit and loss account |
|
|
|||||
Shareholders' funds |
|
|
|||||
|
|||||||
A Marks | G Marks | ||||||
Director | Director | ||||||
Approved by the board on |
|||||||
|
||||||||
Notes to the Accounts | ||||||||
for the year ended |
||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
|
||||||||
Turnover | ||||||||
|
||||||||
Tangible fixed assets | ||||||||
|
||||||||
Leasehold land and buildings | 20% straight line | |||||||
Computer equipment | 25% straight line | |||||||
Fixtures, fittings, tools and equipment | 25% straight line | |||||||
Stocks | ||||||||
|
||||||||
Debtors | ||||||||
|
||||||||
Cash and cash equivalents | ||||||||
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. | ||||||||
Hedge Accounting | ||||||||
Hedge accounting is used where the hedging relationship is designated, documented and expected to be highly effective and is only used for specific risks, as defined by FRS 102 section 12. | ||||||||
Tribes Travel Limited uses forward foreign currency contracts to hedge its exposure to foreign exchange rate volatility. Such derivative financial instruments are stated at fair value. | ||||||||
Where a derivative financial instrument is designated as a hedge of a highly probable forecast transaction, the effective portion of the gain or loss on the hedging instrument from the inception of the hedging relationship is recognised directly in the comprehensive income hedging reserve within equity. Any ineffective portion is recognised within the profit and loss account. | ||||||||
For all other cash flow hedges, the recycling of the cash flow hedge is taken to the profit and loss account in the same period as the hedging transaction begins to affect profit or loss. | ||||||||
Tribes Travel Limited may enter into foreign exchange forward contracts to match anticipated future cash outflows in foreign currencies. Their policy is to enter into foreign exchange forward contracts up to a maximum of 100% of anticipated foreign currency expenditure for up to 12 months in advance limited to the approved annual expenditure budget for those currencies. Tribes Travel Limited does not use derivative financial instruments for speculative purposes. |
||||||||
Creditors | ||||||||
|
||||||||
Taxation | ||||||||
|
||||||||
Provisions | ||||||||
|
||||||||
Foreign currency translation | ||||||||
|
||||||||
Advance receipts and payments | ||||||||
All revenue recieved relating to bookings that depart after the balance sheet date is treated as advance receipts and is separately disclosed under accruals and deferred income. Payments made to suppliers relating to bookings that depart after the balance sheet date are treated as advance payments and are separately disclosed under prepayments and accrued income. | ||||||||
2 | Audit information | |||||||
|
||||||||
Senior statutory auditor: |
|
|||||||
Firm: |
|
|||||||
Date of audit report: |
|
|||||||
3 | Employees | 2018 | 2017 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
|
|
||||||
4 | Tangible fixed assets | |||||||
Improvements to premisis | Fixtures & fittings | Computer equipment | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 January 2018 |
|
|
|
|
||||
Additions |
|
|
|
|
||||
At 31 December 2018 |
|
|
|
|
||||
Depreciation | ||||||||
At 1 January 2018 |
|
|
|
|
||||
Charge for the year |
|
|
|
|
||||
At 31 December 2018 |
|
|
|
|
||||
Net book value | ||||||||
At 31 December 2018 |
|
|
|
|
||||
At 31 December 2017 |
|
|
|
|
||||
5 | Debtors | 2018 | 2017 | |||||
£ | £ | |||||||
Trade debtors |
|
|
||||||
Other debtors |
|
|
||||||
|
|
|||||||
6 | Creditors: amounts falling due within one year | 2018 | 2017 | |||||
£ | £ | |||||||
Trade creditors |
|
|
||||||
Corporation tax |
|
|
||||||
Other taxes and social security costs |
|
|
||||||
Financial instruments | 19,725 | 10,435 | ||||||
Other creditors |
|
|
||||||
|
|
|||||||
7 | Revaluation reserve | 2018 | 2017 | |||||
£ | £ | |||||||
At 1 January 2018 | ( |
- | ||||||
Loss on currency translation differences | ( |
( |
||||||
At 31 December 2018 | ( |
( |
||||||
8 | Events after the reporting date | |||||||
There have been no significant events affecting the Company since the year end. | ||||||||
9 | Pension commitments | |||||||
The company operates a defined pension scheme. The pension charge for the period represents contributions by the company into the pension scheme and amounted to £170,838 (2017 £1,321). There were no outstanding or prepaid contributions at either the current or previous year end. | ||||||||
10 | Other financial commitments | 2018 | 2017 | |||||
£ | £ | |||||||
The company enters into forward currency contracts to mitigate the exchange rate risk for certain future foreign currency payables. At 31 December 2018, the Company is committed to selling and receiving a fixed amount of USD, ZAR, OR EUR.The outstanding contracts all mature within 9 months (2017:10 months). |
|
|
||||||
11 | Contingent liabilities | |||||||
|
||||||||
12 | Related party transactions | |||||||
The charity trustees are also directors and staff of Tribes Travel Limited. Many customers and suppliers make donations to The Tribes Foundation through the company and the company donates to this charity in its own right. |
||||||||
The donation to The Tribes Foundation was £3,080 ( 2017 £1,656 ) | ||||||||
13 | Controlling party | |||||||
|
||||||||
14 | Other information | |||||||
Tribes Travel Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
The Old Dairy Wood Farm | ||||||||
Ipswich Road | ||||||||
Otley | ||||||||
Ipswich, Suffolk | ||||||||
IP6 9JW |