REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ABRIDGED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2021 |
|
FOR |
|
A C TRAVEL & LEISURE LTD |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ABRIDGED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2021 |
|
FOR |
|
A C TRAVEL & LEISURE LTD |
A C TRAVEL & LEISURE LTD (REGISTERED NUMBER: 03001975) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JANUARY 2021 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Abridged Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 4 |
|
A C TRAVEL & LEISURE LTD |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST JANUARY 2021 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
BUSINESS ADDRESS: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Certified Accountants |
344 - 354 Grays Inn Road |
London |
WC1X 8BP |
A C TRAVEL & LEISURE LTD (REGISTERED NUMBER: 03001975) |
|
ABRIDGED STATEMENT OF FINANCIAL POSITION |
31ST JANUARY 2021 |
|
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Property, plant and equipment | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
6 |
( |
) |
|
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The directors acknowledge their 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. |
A C TRAVEL & LEISURE LTD (REGISTERED NUMBER: 03001975) |
|
ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
31ST JANUARY 2021 |
|
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
A C TRAVEL & LEISURE LTD (REGISTERED NUMBER: 03001975) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JANUARY 2021 |
|
1. | STATUTORY INFORMATION |
|
A C Travel & Leisure Ltd is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Revenue is recognised at the date of the customer departure. |
|
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. |
|
|
|
|
|
Tangible fixed assets |
|
Plant and machinery etc | - |
|
|
Business grants |
Business related Covid-19 grants and furlough claims totalling £104,135 were claimed by the company during the year. |
|
The company has taken out a £50,000 government backed bounce back loan, at a fixed interest rate of 2.5%. The government's interest contribution is reflected in the grant figure disclosed. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
|
A C TRAVEL & LEISURE LTD (REGISTERED NUMBER: 03001975) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JANUARY 2021 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
|
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. |
|
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. |
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st February 2020 |
and 31st January 2021 |
|
AMORTISATION |
At 1st February 2020 |
|
Amortisation for year |
|
At 31st January 2021 |
|
NET BOOK VALUE |
|
At 31st January 2021 |
|
At 31st January 2020 |
|
A C TRAVEL & LEISURE LTD (REGISTERED NUMBER: 03001975) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JANUARY 2021 |
|
5. | PROPERTY, PLANT AND EQUIPMENT |
Totals |
£ |
COST |
At 1st February 2020 |
|
Additions |
|
At 31st January 2021 |
|
DEPRECIATION |
At 1st February 2020 |
|
Charge for year |
|
At 31st January 2021 |
|
NET BOOK VALUE |
At 31st January 2021 |
|
At 31st January 2020 |
|
|
6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS |
2021 | 2020 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 9,167 | - |
|
7. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2021 | 2020 |
£ | £ |
Bounce Back Loan | 50,000 | - |
|
The company remains fully liable for the bounce back loan. The loan (both capital and interest) are ultimately guaranteed by the government. |
|
8. | RELATED PARTY DISCLOSURES |
|
During the year, total dividends of £50,000 (2020 - £60,000) were paid to the directors . |
|
At the year end £12,553 (2020: £20,423) was owed by A C Hotels (UK) Limited, a company owned and controlled by the directors. The loan is interest free and repayable on demand. |
|
Rent of £11,000 (2020: £22,000) was charged to the company by A C Hotels (UK) Limited. |