UK Study Tours Limited - Period Ending 2018-11-30

Registration number: 07088370

UK Study Tours Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2018

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

UK Study Tours Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 8

UK Study Tours Limited

Company Information

Director

SAK Esfahani

Registered office

Unit 4 Gordon Mews, Gordon Close Portslade Brighton BN41 1HU

Accountants

Chisnall Comer Ismail & Co Chartered Accountants Maria House 35 Millers Road Brighton BN1 5NP

Page 1

UK Study Tours Limited

(Registration number: 07088370)
Balance Sheet as at 30 November 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	121,733	106,545
Current assets
Debtors	5	213,440	265,610
Cash at bank and in hand		263	1,600
		213,703	267,210
Creditors: Amounts falling due within one year	7	(625,500)	(274,075)
Net current liabilities		(411,797)	(6,865)
Total assets less current liabilities		(290,064)	99,680
Creditors: Amounts falling due after more than one year	7	(88,825)	(90,754)
Net (liabilities)/assets		(378,889)	8,926
Capital and reserves
Called up share capital	6	1	1
Profit and loss account		(378,890)	8,925
Total equity		(378,889)	8,926

For the financial year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 2

UK Study Tours Limited

(Registration number: 07088370)
Balance Sheet as at 30 November 2018

Approved and authorised by the director on 21 November 2019



 

.........................................

SAK Esfahani

Director

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 3

UK Study Tours Limited

Notes to the Financial Statements for the Year Ended 30 November 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 4
Gordon Mews, Gordon Close
Portslade
Brighton
BN41 1HU

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Page 4

UK Study Tours Limited

Notes to the Financial Statements for the Year Ended 30 November 2018

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	25% Reducing Balance
Office Equipment	33% Straight Line
Motor Vehicles	25% Reducing Balance

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2017 - 7).

Page 5

UK Study Tours Limited

Notes to the Financial Statements for the Year Ended 30 November 2018

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 December 2017	1,788	141,000	142,788
Additions	1,472	44,430	45,902
At 30 November 2018	3,260	185,430	188,690
Depreciation
At 1 December 2017	993	35,250	36,243
Charge for the year	574	30,140	30,714
At 30 November 2018	1,567	65,390	66,957
Carrying amount
At 30 November 2018	1,693	120,040	121,733
At 30 November 2017	795	105,750	106,545

5

Debtors

	2018 £	2017 £
Trade debtors	27,233	164,332
Prepayments	4,456	1,562
Other debtors	181,751	99,716
	213,440	265,610

6	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary Share of £1 each	1	1	1	1

Page 6

UK Study Tours Limited

Notes to the Financial Statements for the Year Ended 30 November 2018

7

Creditors

Creditors: amounts falling due within one year

	Note	2018 £	2017 £
Due within one year
Bank loans and overdrafts	8	44,203	27,188
Trade creditors		28,430	4,967
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	510,027	192,634
Taxation and social security		27,381	26,646
Accruals and deferred income		5,000	5,000
Other creditors		10,459	17,640
		625,500	274,075

Creditors: amounts falling due after more than one year

	Note	2018 £	2017 £
Due after one year
Loans and borrowings	8	88,825	90,754

8	Loans and borrowings

	2018 £	2017 £
Non-current loans and borrowings
Bank borrowings	16,040	20,519
Finance lease liabilities	72,785	70,235
	88,825	90,754

	2018 £	2017 £
Current loans and borrowings
Bank overdrafts	22	-
Finance lease liabilities	44,181	27,188
	44,203	27,188

Page 7

UK Study Tours Limited

Notes to the Financial Statements for the Year Ended 30 November 2018

9	Related party transactions

Summary of transactions with parent

Study First Group Limited
 The parent company of UK Study Tours Limited.

Amount due to related party at the balance sheet date is £284,148 (2017 - £185,886)
 

Summary of transactions with entities with joint control or significant interest

Tills Plus Ltd a company that has shared director Mr S A K Esfahani

Amount due from related party at the balance sheet date is £177,189 (2017 - £95,433).
 RK1 Ltd a company that has a shared director Mr S A K Esfahani.

Amount due from related part at the balance sheet date is £4,564 (2017 - £4,283).

 

Page 8