Registered number
01137853
Scotts Travel (London) Ltd
Filleted Accounts
31 October 2017
Scotts Travel (London) Ltd
Registered number: 01137853
Balance Sheet
as at 31 October 2017
Notes 2017 2016
£ £
Fixed assets
Intangible assets 2 20,000 20,000
Tangible assets 3 301,000 301,000
321,000 321,000
Current assets
Debtors 4 215,687 210,048
Cash at bank and in hand 1,476,709 1,388,675
1,692,396 1,598,723
Creditors: amounts falling due within one year 5 (423,434) (332,552)
Net current assets 1,268,962 1,266,171
Net assets 1,589,962 1,587,171
Capital and reserves
Called up share capital 20,100 20,100
Revaluation reserve 6 280,500 280,500
Capital redemption reserve 7,500 7,500
Profit and loss account 1,281,862 1,279,071
Shareholders' funds 1,589,962 1,587,171
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr. M Prior
Director
Approved by the board on 24 January 2018
Scotts Travel (London) Ltd
Notes to the Accounts
for the year ended 31 October 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 includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 20% straight line
Motor vehicles 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2016 20,000
At 31 October 2017 20,000
Amortisation
At 31 October 2017 -
Net book value
At 31 October 2017 20,000
At 31 October 2016 20,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
3 Tangible fixed assets
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 November 2016 300,000 1,000 301,000
At 31 October 2017 300,000 1,000 301,000
Depreciation
At 31 October 2017 - - -
Net book value
At 31 October 2017 300,000 1,000 301,000
At 31 October 2016 300,000 1,000 301,000
4 Debtors 2017 2016
£ £
Trade debtors 193,536 196,998
Other debtors 22,151 13,050
215,687 210,048
5 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 271,579 188,492
Corporation tax 24,764 18,090
Other taxes and social security costs 7,091 5,970
Other creditors 120,000 120,000
423,434 332,552
6 Revaluation reserve 2017 2016
£ £
At 1 November 2016 280,500 280,500
At 31 October 2017 280,500 280,500
Scotts Travel (London) Ltd 01137853 false 2016-11-01 2017-10-31 2017-10-31 VT Final Accounts June 2017 Mr. M Prior No description of principal activity 01137853 core:WithinOneYear 2016-10-31 01137853 core:ShareCapital 2016-10-31 01137853 core:OtherReservesSubtotal 2016-10-31 01137853 core:RetainedEarningsAccumulatedLosses 2016-10-31 01137853 core:RevaluationReserve 2015-10-31 01137853 2016-11-01 2017-10-31 01137853 bus:PrivateLimitedCompanyLtd 2016-11-01 2017-10-31 01137853 bus:AuditExemptWithAccountantsReport 2016-11-01 2017-10-31 01137853 bus:Director40 2016-11-01 2017-10-31 01137853 1 2016-11-01 2017-10-31 01137853 2 2016-11-01 2017-10-31 01137853 bus:FRS102 2016-11-01 2017-10-31 01137853 bus:FullAccounts 2016-11-01 2017-10-31 01137853 2017-10-31 01137853 core:WithinOneYear 2017-10-31 01137853 core:ShareCapital 2017-10-31 01137853 core:OtherReservesSubtotal 2017-10-31 01137853 core:RetainedEarningsAccumulatedLosses 2017-10-31 01137853 core:Goodwill 2017-10-31 01137853 core:LandBuildings 2017-10-31 01137853 core:Vehicles 2017-10-31 01137853 core:RevaluationReserve 2017-10-31 01137853 2016-10-31 01137853 core:Goodwill 2016-10-31 01137853 core:LandBuildings 2016-10-31 01137853 core:Vehicles 2016-10-31 01137853 core:RevaluationReserve 2016-10-31 iso4217:GBP