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Abbot Coach Travel Limited
 

 
Unaudited Abbreviated Accounts
 
Year Ended 31 March 2016
 

 
Company Registration Number: 03656614

 

Abbot Coach Travel Limited
Contents

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 5

 

Abbot Coach Travel Limited
Abbreviated Balance Sheet
31 March 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

2

   

477,369

   

487,498

 

Current assets

 

             

Stocks

 

   

5,000

   

5,000

 

Debtors

 

   

52,391

   

40,766

 

Cash at bank and in hand

 

   

10,545

   

5,856

 
   

   

67,936

   

51,622

 

Creditors: Amounts falling due within one year

 

   

(213,222)

   

(200,165)

 

Net current liabilities

 

   

(145,286)

   

(148,543)

 

Total assets less current liabilities

 

   

332,083

   

338,955

 

Creditors: Amounts falling due after more than one year

 

   

(266,507)

   

(274,536)

 

Provisions for liabilities

 

   

(9,900)

   

(10,800)

 

Net assets

 

   

55,676

   

53,619

 

Capital and reserves

 

             

Called up share capital

 

4

   

25,000

   

25,000

 

Profit and loss account

 

   

30,676

   

28,619

 

Shareholders' funds

 

   

55,676

   

53,619

 

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

 

Abbot Coach Travel Limited
Abbreviated Balance Sheet
31 March 2016 ......... continued

For the year ending 31 March 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 director acknowledges his 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 .

Approved by the director on 21 December 2016

Mr A M Williams
Director


Company Registration Number: 03656614

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

 

Abbot Coach Travel Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 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. Revenue is recognised on the provision of the service.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% straight line

Coaches

10% straight line for the first 5 years then 5% straight line

Equipment

25% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

 

Abbot Coach Travel Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2016 ......... continued

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.

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 April 2015

 

863,740

   

863,740

 

Additions

 

63,776

   

63,776

 

At 31 March 2016

 

927,516

   

927,516

 

Depreciation

           

At 1 April 2015

 

376,242

   

376,242

 

Charge for the year

 

73,905

   

73,905

 

At 31 March 2016

 

450,147

   

450,147

 

Net book value

           

At 31 March 2016

 

477,369

   

477,369

 

At 31 March 2015

 

487,498

   

487,498

 

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

 

2016
£

   

2015
£

 

 

   

 

Amounts falling due within one year

 

96,888

   

95,457

 

Amounts falling due after more than one year

 

266,507

   

274,536

 

Total secured creditors

 

363,395

   

369,993

 
 

Abbot Coach Travel Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2016 ......... continued

4

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

25,000

   

25,000

   

25,000

   

25,000