Abacus Travel Limited - Accounts to registrar

REGISTERED NUMBER: 02187252 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Abacus Travel Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountant

7

DIRECTORS:

B A Wallace

Mrs B Wallace

N Wallace

SECRETARY:

Mrs F Flynn

REGISTERED OFFICE:

2 The Arcade

Leys Avenue

Letchworth Garden City

Hertfordshire

SG6 3ES

REGISTERED NUMBER:

02187252 (England and Wales)

ACCOUNTANT:

Carol Willis FCCA

Kings Cottage

London Road

Barkway

Royston

Hertfordshire

SG8 8EZ

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

10,873

12,635

10,873

12,635

CURRENT ASSETS

Debtors

6

218,307

176,497

Cash at bank

531,068

601,135

749,375

777,632

CREDITORS

Amounts falling due within one year

7

109,518

122,254

NET CURRENT ASSETS

639,857

655,378

TOTAL ASSETS LESS CURRENT
LIABILITIES

650,730

668,013

PROVISIONS FOR LIABILITIES

2,175

2,527

NET ASSETS

648,555

665,486

CAPITAL AND RESERVES

Called up share capital

20,000

Retained earnings

628,555

645,486

SHAREHOLDERS' FUNDS

648,555

665,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 September 2017 and were signed on its behalf
by:

N Wallace - Director

1.	STATUTORY INFORMATION

Abacus Travel Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1995, is being amortised evenly over its estimated useful life of five years.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance and 10% on reducing balance

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.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

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 6 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

4,012

AMORTISATION

At 1 April 2016

and 31 March 2017

4,012

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

63,956

Additions

371

At 31 March 2017

64,327

DEPRECIATION

At 1 April 2016

51,321

Charge for year

2,133

At 31 March 2017

53,454

NET BOOK VALUE

At 31 March 2017

10,873

At 31 March 2016

12,635

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Trade debtors

102,540

76,346

Other debtors

115,767

100,151

218,307

176,497

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Trade creditors

81,862

78,473

Taxation and social security

2,580

17,930

Other creditors

25,076

25,851

109,518

122,254

8.	ULTIMATE CONTROLLING PARTY

Mr N Wallace is the controlling party.

9.	CASH AT BANK

Included in the bank and cash balance is £99,148 (2016: £98,786) being held by Barclays Bank PLC in

connection with the ABTA bonding.

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2017 set out on pages one to four and you consider that the company is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.

Carol Willis FCCA

Kings Cottage

London Road

Barkway

Royston

Hertfordshire

SG8 8EZ

Date: .............................................