Travel Sector Property Limited - Accounts to registrar (filleted) - small 18.2
Travel Sector Property Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 July 2018 |
| for |
| Travel Sector Property Limited |
| Travel Sector Property Limited (Registered number: 04037220) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Travel Sector Property Limited |
| Company Information |
| for the Year Ended 31 July 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants & Business Advisers |
| 15 Newland |
| Lincoln |
| Lincolnshire |
| LN1 1XG |
| Travel Sector Property Limited (Registered number: 04037220) |
| Balance Sheet |
| 31 July 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Fair value reserve | 12 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| Travel Sector Property Limited (Registered number: 04037220) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2018 |
| 1. | STATUTORY INFORMATION |
| Travel Sector Property Limited is a |
| 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 |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Long leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Investments in associates |
| Investments in associate undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
| fair value is recognised in profit or loss. |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
| at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2017 - NIL). |
| Travel Sector Property Limited (Registered number: 04037220) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and | Computer |
| leasehold | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 August 2017 |
| and 31 July 2018 | 25,000 | 32,877 | 31,860 | 5,650 | 95,387 |
| DEPRECIATION |
| At 1 August 2017 | - | 30,168 | 26,571 | 5,274 | 62,013 |
| Charge for year | 2,000 | 542 | 1,058 | 75 | 3,675 |
| At 31 July 2018 | 2,000 | 30,710 | 27,629 | 5,349 | 65,688 |
| NET BOOK VALUE |
| At 31 July 2018 | 23,000 | 2,167 | 4,231 | 301 | 29,699 |
| At 31 July 2017 | 25,000 | 2,709 | 5,289 | 376 | 33,374 |
| 5. | FIXED ASSET INVESTMENTS |
| Interest |
| in | Other |
| associate | investments | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2017 | 51 |
| Additions | 48 |
| At 31 July 2018 | 99 |
| NET BOOK VALUE |
| At 31 July 2018 | 99 |
| At 31 July 2017 | 51 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 August 2017 |
| Revaluations | 20,000 |
| At 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| Fair value at 31 July 2018 is represented by: |
| £ |
| Valuation in 2017 | 65,285 |
| Valuation in 2018 | 20,000 |
| Cost | 294,715 |
| 380,000 |
| Travel Sector Property Limited (Registered number: 04037220) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2018 |
| 6. | INVESTMENT PROPERTY - continued |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2018 | 2017 |
| £ | £ |
| Cost | 294,715 | 294,715 |
| Investment property was valued on an open market basis on 31 July 2018 by the directors . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loan |
| Andrew Long Portugal Ltd |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loan |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loan |
| Bank loan is secured against the properties to which it relates. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 |
| Travel Sector Property Limited (Registered number: 04037220) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2018 |
| 12. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 August 2017 |
| Transfer | 20,000 |
| At 31 July 2018 |
| 13. | OTHER FINANCIAL COMMITMENTS |
| Total financial commitments which are not included in the balance sheet amount to £672,000 (2017 £714,000). |
| These amounts consist of lease commitments payable over the next sixteen (2017 seventeen) years. |