North Wales Tourism - Cwmni Twristiaeth - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02565721 (England and Wales)

North Wales Tourism - Cwmni Twristiaeth

Gogledd Cymru

Unaudited Financial Statements

for the Year Ended 31 December 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Frost

R M Higgin

J Jones

T J Keith

A R J Oughton

M S Bewick

J V Harrop

M L Miller

G H A Evans

N S Williamson

REGISTERED OFFICE:

9 Wynnstay Road

Colwyn Bay

Conwy

LL29 8NB

REGISTERED NUMBER:

02565721 (England and Wales)

ACCOUNTANTS:

Salisbury & Company

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

FIXED ASSETS

Intangible assets

4

2,800

3,200

Tangible assets

5

163,983

167,888

166,783

171,088

CURRENT ASSETS

Stocks

1,761

1,945

Debtors

6

90,481

78,276

Cash at bank and in hand

62,843

28,414

155,085

108,635

CREDITORS

Amounts falling due within one year

7

126,714

139,454

NET CURRENT ASSETS/(LIABILITIES)

28,371

(30,819

)

TOTAL ASSETS LESS CURRENT LIABILITIES

195,154

140,269

CREDITORS

Amounts falling due after more than one year

8

67,334

-

NET ASSETS

127,820

140,269

RESERVES

Revaluation reserve

9

28,391

28,391

Other reserves

94,405

94,405

Income and expenditure account

5,024

17,473

127,820

140,269

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

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

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 surplus or deficit 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.

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 9 March 2020 and were signed on its behalf by:

J Jones - Director

C J Frost - Director

1.	STATUTORY INFORMATION

North Wales Tourism - Cwmni Twristiaeth Gogledd Cymru is a private company, limited by guarantee ,

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten 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.

Plant and machinery etc

-

25% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of

the lease.

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 18 (2018 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

4,000

AMORTISATION

At 1 January 2019

800

Charge for year

400

At 31 December 2019

1,200

NET BOOK VALUE

At 31 December 2019

2,800

At 31 December 2018

3,200

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2019

175,000

62,311

237,311

Additions

-

2,370

2,370

At 31 December 2019

175,000

64,681

239,681

DEPRECIATION

At 1 January 2019

16,360

53,063

69,423

Charge for year

4,375

1,900

6,275

At 31 December 2019

20,735

54,963

75,698

NET BOOK VALUE

At 31 December 2019

154,265

9,718

163,983

At 31 December 2018

158,640

9,248

167,888

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

44,619

45,074

Amounts owed by participating interests

605

5,455

Other debtors

45,257

27,747

90,481

78,276

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

6,908

-

Trade creditors

30,843

61,241

Taxation and social security

32,592

27,933

Other creditors

56,371

50,280

126,714

139,454

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

67,334

-

9.

RESERVES

Revaluation

reserve

£

At 1 January 2019

and 31 December 2019

28,391