Company Registration No. 04912000 (England and Wales)
TRAVELANDMORE LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
TRAVELANDMORE LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
TRAVELANDMORE LTD
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
18,500
23,125
Tangible assets
2
1,318
1,644
19,818
24,769
Current assets
Debtors
131,021
173,231
Cash at bank and in hand
70,747
29,041
201,768
202,272
Creditors: amounts falling due within one year
(139,595)
(140,382)
Net current assets
62,173
61,890
Total assets less current liabilities
81,991
86,659
Provisions for liabilities
(264)
-
81,727
86,659
Capital and reserves
Called up share capital
3
200,000
200,000
Profit and loss account
(118,273)
(113,341)
Shareholders' funds
81,727
86,659
For the financial year ended 31 October 2016 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 4 May 2017
A Holt
Director
Company Registration No. 04912000
TRAVELANDMORE LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 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 January 2015).
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
1.6
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.
1.7
Deferred taxation
Deferred taxation 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.
TRAVELANDMORE LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 November 2015 & at 31 October 2016
150,000
13,735
163,735
Depreciation
At 1 November 2015
126,875
12,091
138,966
Charge for the year
4,625
326
4,951
At 31 October 2016
131,500
12,417
143,917
Net book value
At 31 October 2016
18,500
1,318
19,818
At 31 October 2015
23,125
1,644
24,769
3
Share capital
2016
2015
£
£
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.
4
Related party relationships and transactions
Loans to directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Directors loan account - A Holt
-
144
5,215
-
5,500
(141)
144
5,215
-
5,500
(141)