Gullivers Travels (Longton) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05105814 (England and Wales)

GULLIVERS TRAVELS (LONGTON) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs J A Taylor

SECRETARY:

Miss E J Hart

REGISTERED OFFICE:

Shorrock House

1 Faraday Court

Fulwood

Preston

Lancashire

PR2 9NB

REGISTERED NUMBER:

05105814 (England and Wales)

ACCOUNTANTS:

Rushtons

Chartered Accountants

Shorrock House

1 Faraday Court

Fulwood

Preston

Lancashire

PR2 9NB

BANKERS:

National Westminster Bank plc

35 Fishergate

Preston

Lancashire

PR1 3BH

FIXED ASSETS

Intangible assets

4

6,250

7,500

Tangible assets

5

92,606

93,017

98,856

100,517

CURRENT ASSETS

Debtors

45,082

30,576

Cash at bank

281,880

233,107

326,962

263,683

CREDITORS

Amounts falling due within one year

197,567

153,236

NET CURRENT ASSETS

129,395

110,447

TOTAL ASSETS LESS CURRENT LIABILITIES

228,251

210,964

CREDITORS

Amounts falling due after more than one year

(43,616

)

(42,533

)

PROVISIONS FOR LIABILITIES

(414

)

(474

)

NET ASSETS

184,221

167,957

CAPITAL AND RESERVES

Called up share capital

55,000

55,000

Revaluation reserve

6

38,405

38,405

Retained earnings

90,816

74,552

SHAREHOLDERS' FUNDS

184,221

167,957

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 29 October 2019 and were signed by:

Mrs J A Taylor - Director

1.	STATUTORY INFORMATION

Gullivers Travels (Longton) Ltd is a private company, limited by shares , registered in

England and Wales. The 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the

company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover represents the net commissions received on travel agency transactions.

Commissions are recognised when the balance of the holiday proceeds are received.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance and 10% on cost

Computer equipment

-

33% on cost

In the opinion of the director the residual value of the property is at least equal to its book

value. Having regard to this, it is the opinion of the director that depreciation of the property

as required by the Companies Act 2006 and the Financial Reporting Standard for Smaller

Entities (effective April 2008) is not necessary.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2018

and 31 July 2019

25,000

AMORTISATION

At 1 August 2018

17,500

Amortisation for year

1,250

At 31 July 2019

18,750

NET BOOK VALUE

At 31 July 2019

6,250

At 31 July 2018

7,500

5.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 August 2018

114,313

Additions

778

Disposals

(5,449

)

At 31 July 2019

109,642

DEPRECIATION

At 1 August 2018

21,296

Charge for year

1,053

Eliminated on disposal

(5,313

)

At 31 July 2019

17,036

NET BOOK VALUE

At 31 July 2019

92,606

At 31 July 2018

93,017

Cost or valuation at 31 July 2019 is represented by:

Totals

£

Valuation in 2005

20,000

Valuation in 2015

18,405

Valuation in 2019

(4,671

)

Cost

75,908

109,642

If the freehold property had not been revalued it would have been included at the following

historical cost:

2019

2018

£

£

Cost

51,595

51,595

Freehold property was valued on an open market basis on 31 July 2019 by the director, Mrs J A Taylor

.

6.

RESERVES

Revaluation

reserve

£

At 1 August 2018

and 31 July 2019

38,405

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs J A Taylor.