Company Registration No. 04912000 (England and Wales)
TRAVELANDMORE LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2015
TRAVELANDMORE LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
TRAVELANDMORE LTD
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2015
31 October 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
23,125
27,750
Tangible assets
2
1,644
2,056
24,769
29,806
Current assets
Debtors
173,231
139,964
Cash at bank and in hand
29,040
69,271
202,271
209,235
Creditors: amounts falling due within one year
(140,382)
(160,018)
Net current assets
61,889
49,217
Total assets less current liabilities
86,658
79,023
Capital and reserves
Called up share capital
3
200,000
200,000
Profit and loss account
(113,342)
(120,977)
Shareholders' funds
86,658
79,023
For the financial year ended 31 October 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 28 April 2016
A Holt
Director
Company Registration No. 04912000
TRAVELANDMORE LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
- 2 -
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 and services net of VAT. The company recognises turnover when the holiday is booked.
The company recognises turnover when the holiday is booked.
1.4
Goodwill
Acquired goodwill is written off over its estimated useful economic life.
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:
Computer equipment
20% per annum of written down value
Fixtures, fittings & equipment
20% per annum of written down value
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 November 2014 & at 31 October 2015
150,000
13,735
163,735
Depreciation
At 1 November 2014
122,250
11,679
133,929
Charge for the year
4,625
412
5,037
At 31 October 2015
126,875
12,091
138,966
Net book value
At 31 October 2015
23,125
1,644
24,769
At 31 October 2014
27,750
2,056
29,806
TRAVELANDMORE LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
50,000 Ordinary shares of £1 each
50,000
50,000
150,000 Redeemable preference shares of £1 each
150,000
150,000
200,000
200,000
The preference shares in issue are redeemable at the option of the company at par. There is no fixed redemption date.
The directors understand that, in accordance with Financial Reporting Standard 25 Financial Instruments: Presentation, the preference shares should be presented as a liability in the financial statements and not as share capital. However it is not envisaged that the company will redeem the preference shares or that the shareholders will sell the entire issued ordinary share capital of the company. Therefore the directors are of the opinion that the preference shares represent long-term funding for the business and should be shown as part of Capital and Reserves rather than as a long-term liability.