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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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Harry Hynds Travel Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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Harry Hynds Travel Limited |
Harry Hynds Travel Limited (Registered number: SC085714) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Harry Hynds Travel Limited |
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Company Information |
for the Year Ended 31 December 2016 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Titanium 1 |
King's Inch Place |
Renfrew |
PA4 8WF |
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BANKERS: |
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174 Byres Road |
Glasgow |
Lanarkshire |
G12 8SW |
Harry Hynds Travel Limited (Registered number: SC085714) |
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Balance Sheet |
31 December 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 | - | - |
Tangible assets | 6 | - |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Harry Hynds Travel Limited (Registered number: SC085714) |
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Balance Sheet - continued |
31 December 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Harry Hynds Travel Limited (Registered number: SC085714) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Harry Hynds Travel Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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Monetary amounts in these financial statements are rounded to the nearest £. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The company has transitioned to FRS 102 from previously extant UK GAAP as at 01 January 2015. |
The reported financial position and financial performance for the previous period are not affected by |
the transition to FRS 102. |
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Turnover |
Turnover represents commission earned as an agent in respect of passenger fares and holiday tours |
(excluding value added tax) during the year. |
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Commission is recognised six weeks prior to the date of travel. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 1990, has been |
written off evenly over its estimated useful life of 10 years. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Improvements to property | - |
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Fixtures and fittings | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
Harry Hynds Travel Limited (Registered number: SC085714) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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3. | ACCOUNTING POLICIES - continued |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been |
enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable |
profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
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Foreign currencies |
Assets and liabilities denoted in foreign currencies are translated into sterling at the rates of exchange |
ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the |
rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in |
arriving at the operating result. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Harry Hynds Travel Limited (Registered number: SC085714) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2016 |
and 31 December 2016 |
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AMORTISATION |
At 1 January 2016 |
and 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 | - |
At 31 December 2015 |
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6. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
and 31 December 2016 |
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100,652 |
DEPRECIATION |
At 1 January 2016 |
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100,452 |
Charge for year |
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At 31 December 2016 |
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100,652 |
NET BOOK VALUE |
At 31 December 2016 | - | - | - |
At 31 December 2015 |
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- |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Other debtors |
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Harry Hynds Travel Limited (Registered number: SC085714) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2016 | 2015 |
£ | £ |
Within one year |
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Between one and five years |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
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The Bank of Scotland hold a bond and floating charge to all sums due or to become due. |
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11. | RELATED PARTY DISCLOSURES |
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At the balance sheet date, the director, Mr I Hynds, was due £5,755 (2015: £3,744) by the company. |
The loan is interest free with no fixed date for repayment. |
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At the balance sheet date, the company owed Mr H Hynds £249. The loan is interest free with no |
fixed date for repayment. |
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12. | ULTIMATE CONTROLLING PARTY |
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Mr Harry Hynds controls the company as a result of holding 86.5% of the ordinary share capital. |
Harry Hynds Travel Limited (Registered number: SC085714) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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13. | FIRST YEAR ADOPTION |
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For all periods up to and including the year ended 31 December 2016, the Company prepared its |
financial statements in accordance with previously exant United Kingdom generally accepted |
accounting practice (UK GAAP). These financial statements, for the year ended 31 December 2016, |
are the first year the Company has prepared in accordance with FRS102. The significant accounting |
policies in meeting those requirements are described in relevant notes. |
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In preparing these financial statements, the Company started from an opening balance sheet at the |
Company's date of transition to FRS 102, and made those changes in accounting policies and other |
restatements required for the first-time adoption of FRS102. There has been no material impact to the |
Company's financial position, results or cashflows as a result of restating its financial statements. |
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