Company Registration No. 04436129 (England and Wales)
ST. C (TRAVEL GOODS) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2015
ST. C (TRAVEL GOODS) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ST. C (TRAVEL GOODS) LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
15,337
23,003
Tangible assets
2
8,993
13,151
24,330
36,154
Current assets
Stocks
361,035
425,915
Debtors
430,682
739,669
Cash at bank and in hand
97,310
182,941
889,027
1,348,525
Creditors: amounts falling due within one year
3
(674,668)
(1,128,939)
Net current assets
214,359
219,586
Total assets less current liabilities
238,689
255,740
238,689
255,740
Capital and reserves
Called up share capital
4
200,004
200,004
Other reserves
10,000
10,000
Profit and loss account
28,685
45,736
Shareholders' funds
238,689
255,740
ST. C (TRAVEL GOODS) LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 May 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
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;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 15 February 2016
J Carlin
Director
Company Registration No. 04436129
ST. C (TRAVEL GOODS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 15 years.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
over the life of the lease
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance / 33.3% straight line
Motor vehicles
25% reducing balance/ 3 years straight line
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.9
Deferred taxation
The accounting policy in respect of deferred tax reflects the requirements of FRS19 - Deferred tax. Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.10
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
ST. C (TRAVEL GOODS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 June 2014
114,995
124,344
239,339
Additions
-
640
640
At 31 May 2015
114,995
124,984
239,979
Depreciation
At 1 June 2014
91,992
111,193
203,185
Charge for the year
7,666
4,798
12,464
At 31 May 2015
99,658
115,991
215,649
Net book value
At 31 May 2015
15,337
8,993
24,330
At 31 May 2014
23,003
13,151
36,154
3
Creditors: amounts falling due within one year
Lloyds TSB Commercial Finance Limited have a fixed and floating charge over the undertaking.
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
200,000 Ordinary A shares of £1 each
200,000
200,000
1 Ordinary B shares of £1 each
1
1
1 Ordinary C shares of £1 each
1
1
1 Ordinary D shares of £1 each
1
1
1 Ordinary E shares of £1 each
1
1
200,004
200,004
5
Related party relationships and transactions
Other transactions
Included in other creditors is £110,000 on the directors' current account of J Carlin (2014 - £157,500), loaned to the company.