Absolute Travel Ltd |
Registered number: |
06328699 |
Balance Sheet |
as at 31 August 2017 |
|
Notes |
|
|
2017 |
|
|
2016 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
266 |
|
|
355 |
|
Current assets |
Debtors |
4 |
|
53,537 |
|
|
47,092 |
Cash at bank and in hand |
|
|
756 |
|
|
1,020 |
|
|
|
54,293 |
|
|
48,112 |
|
Creditors: amounts falling due within one year |
5 |
|
(38,036) |
|
|
(50,250) |
|
Net current assets/(liabilities) |
|
|
|
16,257 |
|
|
(2,138) |
|
Net assets/(liabilities) |
|
|
|
16,523 |
|
|
(1,783) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1 |
|
|
1 |
Profit and loss account |
|
|
|
16,522 |
|
|
(1,784) |
|
Shareholder's funds |
|
|
|
16,523 |
|
|
(1,783) |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
J Pillai |
Director |
Approved by the board on 24 January 2018 |
|
Absolute Travel Ltd |
Notes to the Accounts |
for the year ended 31 August 2017 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover as a tour operator includes revenue earned from the sale of holidays for which the company acts as principal. Holidays booked but not departed are shown as deferred income and the associated costs are included within prepayments. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
25% reducing balance |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
2 |
Employees |
2017 |
|
2016 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery |
£ |
|
Cost |
|
At 1 September 2016 |
3,955 |
|
At 31 August 2017 |
3,955 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2016 |
3,600 |
|
Charge for the year |
89 |
|
At 31 August 2017 |
3,689 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2017 |
266 |
|
At 31 August 2016 |
355 |
|
|
4 |
Debtors |
2017 |
|
2016 |
£ |
£ |
|
|
Trade debtors |
53,537 |
|
47,092 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
£ |
£ |
|
|
Bank loans and overdrafts |
14,017 |
|
- |
|
Trade creditors |
4,356 |
|
39,460 |
|
Corporation tax |
3,990 |
|
- |
|
Other creditors |
15,673 |
|
10,790 |
|
|
|
|
|
|
38,036 |
|
50,250 |
|
|
|
|
|
|
|
|
|
|
6 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
J Pillai |
|
Loan |
186 |
|
- |
|
|
|
186 |
|
|
|
186 |
|
- |
|
- |
|
186 |
|
|
|
|
|
|
|
|
|
|
7 |
Related party transactions |
|
|
J Pillai , Flightserve UK Ltd and Flightserve Medical Air Charter LLP are related parties by virtue of common control. The balance is non interest bearing. At the balance sheet date, Flightserve UK Ltd was owed £4,937(2016-£4,937). Flightserve Medical Air Charter LLP was owed £8,150 (2016- £4,273). The trade debtors at the balance sheet date relate to Flightserve £53,537(2016-£47,092). J Pillai was owed £186(2016-£186). |
|
|
8 |
Controlling party |
|
|
John Pillai is the controlling party by virtue of his shareholding. |
|
|
9 |
Other information |
|
|
Absolute Travel Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
C/o A K E |
|
The Salisbury Restaurant Office, |
|
15 The Broadway, |
|
Hatfield, Hertfordshire, |
|
AL9 5HZ |