| 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 |
|
|
|
|
|
|
|
|
|