SMILE GROUP TRAVEL LIMITED

SMILE GROUP TRAVEL LIMITED

SMILE GROUP TRAVEL LIMITED - Company Information

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SMILE GROUP TRAVEL LIMITED

Company Registration Number:
08794585 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2018

Period of accounts

Start date: 01 January 2018

End date: 31 December 2018

SMILE GROUP TRAVEL LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2018

Balance sheet
Notes

SMILE GROUP TRAVEL LIMITED

Balance sheet

As at 31 December 2018


Notes
2018
2017


£
£
Fixed assets
Tangible assets: 3 9,196 9,599
Total fixed assets: 9,196 9,599
Current assets
Debtors: 4 945,671 631,072
Total current assets: 945,671 631,072
Creditors: amounts falling due within one year: 5 (1,037,644) (726,783)
Net current assets (liabilities): (91,973) (95,711)
Total assets less current liabilities: (82,777) (86,112)
Total net assets (liabilities): (82,777) (86,112)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (82,877) (86,212)
Shareholders funds: (82,777) (86,112)

The notes form part of these financial statements

SMILE GROUP TRAVEL LIMITED

Balance sheet statements

For the year ending 31 December 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 December 2019
and signed on behalf of the board by:

Name: S M Weeks
Status: Director

The notes form part of these financial statements

SMILE GROUP TRAVEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover compromises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. Revenue is recognised on a departure date basis.

Tangible fixed assets and depreciation policy

Tangible fixed assets under the cost model are stated at historical cost less accumulateddepreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.Depreciation is provided on the following basis:Office equipment - 25%Computer equipment - 25%The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

Other accounting policies

-Advance receipts and payments-All revenue relating to tours with departure dates after the financial year end are treated as advance receipts as at the balance sheet date and are separately disclosed under other creditors. Payments made to suppliers in respect of future departures are treated as advance payments and are separately disclosed under other debtors.-Interest income-Interest income is recognised in the Statement of comprehensive income using the effective interest method.-Taxation-Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income.-Debtors-Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.-Creditors-Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

SMILE GROUP TRAVEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

2. Employees

2018 2017
Average number of employees during the period 1 5

SMILE GROUP TRAVEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

3. Tangible Assets

Total
Cost £
At 01 January 2018 12,166
Additions 3,333
At 31 December 2018 15,499
Depreciation
At 01 January 2018 2,567
Charge for year 3,736
At 31 December 2018 6,303
Net book value
At 31 December 2018 9,196
At 31 December 2017 9,599

SMILE GROUP TRAVEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

4. Debtors

2018 2017
££
Debtors due after more than one year: 0 0

Debtors due within one year: Trade debtors 2018: £3,742 (2017: £3,742; Amounts owed by group undertakings 2018: £230,819 (2017: £nil); Other debtors 2018: £261,123 (2017: £213,690); Prepayments and accrued income 2018: £449,987 (2017: £413,640).

SMILE GROUP TRAVEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

5. Creditors: amounts falling due within one year note

Other taxation and social security 2018: £nil (2017: £4,369); Other creditors 2018: £393,321 (2017: £213,901); Accruals and deferred income 2018: £644,323 (2017: £508,513).

SMILE GROUP TRAVEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

6. Related party transactions

Name of the related party: South Quay Travel & Leisure Limited (SQTL),
Relationship:
Shareholder
Description of the Transaction: During the year, South Quay Travel & Leisure Limited (SQTL), a shareholder in the company, owed£230,819 (2017: £nil) at the year end.
£
Balance at 01 January 2018 0
Balance at 31 December 2018 230,819
Name of the related party: Cruise & Maritime Voyages Limited (CMV)
Relationship:
company under common control
Description of the Transaction: During the year, Cruise & Maritime Voyages Limited (CMV), a company under common control, wasowed £362,908 (2017: £195,213) at the year end.
£
Balance at 01 January 2018 195,213
Balance at 31 December 2018 362,908