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Registration number: 04466109

A & K Travel Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

 

A & K Travel Limited
(Registration number: 04466109)
Abbreviated Balance Sheet at 31 August 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

2

   

31,535

   

22,080

 

Current assets

 

             

Debtors

 

   

3,249

   

2,695

 

Cash at bank and in hand

 

   

6,356

   

13,324

 
   

   

9,605

   

16,019

 

Creditors: Amounts falling due within one year

 

   

(10,924)

   

(31,809)

 

Net current liabilities

 

   

(1,319)

   

(15,790)

 

Total assets less current liabilities

 

   

30,216

   

6,290

 

Creditors: Amounts falling due after more than one year

 

   

(13,841)

   

-

 

Provisions for liabilities

 

   

(3,937)

   

(919)

 

Net assets

 

   

12,438

   

5,371

 

Capital and reserves

 

             

Called up share capital

 

3

   

100

   

100

 

Profit and loss account

 

   

12,338

   

5,271

 

Shareholders' funds

 

   

12,438

   

5,371

 

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

 

A & K Travel Limited
(Registration number: 04466109)
Abbreviated Balance Sheet at 31 August 2016
......... continued

For the year ending 31 August 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

Approved by the Board on 30 November 2016 and signed on its behalf by:

.........................................
Mr R K Scales
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

 

A & K Travel Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. It includes the relevant proportion of contract values where work is partially performed in the year.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 10 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

Equipment

10% reducing balance basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

 

A & K Travel Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2

Fixed assets

 

Intangible assets
£

   

Tangible assets
£

   

Total
£

 

Cost

 

   

   

 

At 1 September 2015

 

15,000

   

99,604

   

114,604

 

Additions

 

-

   

19,421

   

19,421

 

At 31 August 2016

 

15,000

   

119,025

   

134,025

 

Depreciation

 

   

   

 

At 1 September 2015

 

15,000

   

77,524

   

92,524

 

Charge for the year

 

-

   

9,966

   

9,966

 

At 31 August 2016

 

15,000

   

87,490

   

102,490

 

Net book value

 

   

   

 

At 31 August 2016

 

-

   

31,535

   

31,535

 

At 31 August 2015

 

-

   

22,080

   

22,080

 
 

A & K Travel Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

100

   

100

   

100

   

100