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No description of principal activities is disclosed
2018-01-01
Sage Accounts Production 18.30 - FRS
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2018-12-31
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2018-12-31
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07080767
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2017-12-31
07080767
2017-12-31
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2018-01-01
2018-12-31
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2018-12-31
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2018-12-31
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2017-12-31
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2017-12-31
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2018-12-31
07080767
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2018-12-31
07080767
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2018-12-31
07080767
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2017-12-31
07080767
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2018-12-31
07080767
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2017-12-31
07080767
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2018-12-31
07080767
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2017-12-31
07080767
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2018-12-31
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2017-12-31
07080767
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2017-12-31
07080767
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2017-12-31
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2017-12-31
07080767
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2017-12-31
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2018-12-31
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2018-12-31
Company registration number:
07080767
Forge Travel Ltd
Trading as
Forge Travel Ltd
Unaudited filleted financial statements
31 December 2018
Forge Travel Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Forge Travel Ltd
Directors and other information
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Director
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Gareth Ames
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Company number
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07080767
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Registered office
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Forge Garage
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Forge Industrial Estate
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Maesteg
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CF34 0AY
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Business address
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Forge Garage
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Forge Industrial Estate
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Maesteg
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CF34 0AY
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Accountants
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C C Jenkins & Partners Ltd
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34-35 Tydraw Street
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Port Talbot
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West Glam
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SA13 1BT
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Bankers
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Lloyds Bank
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Wyndham Street
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Bridgend
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Forge Travel Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Forge Travel Ltd
Year ended 31 December 2018
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 December 2018 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
C C Jenkins & Partners Ltd
Chartered Certified Accountants
34-35 Tydraw Street
Port Talbot
West Glam
SA13 1BT
21 March 2019
Forge Travel Ltd
Statement of financial position
31 December 2018
|
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2018
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2017
|
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Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
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|
|
|
|
Fixed assets
|
|
|
|
|
|
|
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|
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Intangible assets
|
|
5
|
30,000
|
|
|
|
30,000
|
|
|
Tangible assets
|
|
6
|
549,815
|
|
|
|
489,276
|
|
|
|
|
|
_______
|
|
|
|
_______
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|
|
|
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579,815
|
|
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|
519,276
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|
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|
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|
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Current assets
|
|
|
|
|
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Stocks
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15,000
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|
10,000
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|
|
Debtors
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|
7
|
58,259
|
|
|
|
52,009
|
|
|
Cash at bank and in hand
|
|
|
40,941
|
|
|
|
25,636
|
|
|
|
|
|
_______
|
|
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|
_______
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|
|
|
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114,200
|
|
|
|
87,645
|
|
|
Creditors: amounts falling due
|
|
|
|
|
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|
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|
within one year
|
|
8
|
(
304,204)
|
|
|
|
(
261,179)
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|
|
|
|
|
_______
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|
_______
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Net current liabilities
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|
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|
|
(
190,004)
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|
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|
(
173,534)
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|
_______
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_______
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Total assets less current liabilities
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389,811
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345,742
|
|
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Creditors: amounts falling due
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|
|
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|
|
|
|
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|
after more than one year
|
|
9
|
|
|
(
283,388)
|
|
|
|
(
285,029)
|
|
|
|
|
|
_______
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_______
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Net assets
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106,423
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60,713
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_______
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_______
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Capital and reserves
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|
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Fair value reserve
|
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|
|
500
|
|
|
|
500
|
Profit and loss account
|
|
|
|
|
105,923
|
|
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60,213
|
|
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|
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|
_______
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_______
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Shareholders funds
|
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106,423
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60,713
|
|
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|
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|
_______
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_______
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For the year ending 31 December 2018 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
21 March 2019
, and are signed on behalf of the board by:
Gareth Ames
Director
Company registration number:
07080767
Forge Travel Ltd
Notes to the financial statements
Year ended 31 December 2018
1.
General information
The company is a private company limited by shares, registered in UK. The address of the registered office is Forge Travel Ltd, Forge Garage, Forge Industrial Estate, Maesteg, CF34 0AY.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
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Fittings fixtures and equipment
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-
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20 %
|
reducing balance
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Motor vehicles
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-
|
20 %
|
reducing balance
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|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
46
(2017:
46
).
5.
Intangible assets
|
|
Goodwill
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Total
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|
£
|
£
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|
|
|
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Cost
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At 1 January 2018 and 31 December 2018
|
30,000
|
30,000
|
|
|
|
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|
_______
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_______
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Amortisation
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|
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At 1 January 2018 and 31 December 2018
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-
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-
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_______
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_______
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Carrying amount
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|
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At 31 December 2018
|
30,000
|
30,000
|
|
|
|
|
|
|
_______
|
_______
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|
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At 31 December 2017
|
30,000
|
30,000
|
|
|
|
|
|
|
_______
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_______
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|
|
|
|
|
|
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6.
Tangible assets
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Fixtures, fittings and equipment
|
Motor vehicles
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Total
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£
|
£
|
£
|
|
|
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Cost
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At 1 January 2018
|
13,506
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746,455
|
759,961
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Additions
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-
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188,393
|
188,393
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|
Disposals
|
-
|
(
52,130)
|
(
52,130)
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|
|
|
|
|
|
_______
|
_______
|
_______
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|
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|
At 31 December 2018
|
13,506
|
882,718
|
896,224
|
|
|
|
|
|
|
_______
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_______
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_______
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|
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Depreciation
|
|
|
|
|
|
|
|
|
At 1 January 2018
|
11,045
|
259,640
|
270,685
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|
|
|
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|
Charge for the year
|
492
|
109,566
|
110,058
|
|
|
|
|
|
Disposals
|
-
|
(
34,334)
|
(
34,334)
|
|
|
|
|
|
|
_______
|
_______
|
_______
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|
|
|
|
|
At 31 December 2018
|
11,537
|
334,872
|
346,409
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 December 2018
|
1,969
|
547,846
|
549,815
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2017
|
2,461
|
486,815
|
489,276
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
47,910
|
43,123
|
|
Other debtors
|
|
10,349
|
8,886
|
|
|
|
_______
|
_______
|
|
|
|
58,259
|
52,009
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
92,924
|
92,156
|
|
Social security and other taxes
|
|
13,360
|
-
|
|
Other creditors
|
|
197,920
|
169,023
|
|
|
|
_______
|
_______
|
|
|
|
304,204
|
261,179
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Other creditors
|
|
283,388
|
285,029
|
|
|
|
_______
|
_______
|
|
|
|
|
|
10.
Directors advances, credits and guarantees
|
During the year the director entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the director
|
Amounts repaid
|
Balance o/standing
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
Gareth Ames
|
(
388)
|
(
48,900)
|
45,390
|
(
3,898)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the director
|
Amounts repaid
|
Balance o/standing
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
Gareth Ames
|
(
621)
|
(
140,741)
|
140,974
|
(
388)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|