Kenneth Macleod Travel Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC137477 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Kenneth Macleod Travel Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

5

DIRECTOR:

J M C Stark

SECRETARY:

A Tait

REGISTERED OFFICE:

4 Mains Avenue

Giffnock

Glasgow

G46 6QY

REGISTERED NUMBER:

SC137477 (Scotland)

ACCOUNTANTS:

Innes & Partners Limited

Chartered Certified Accountants

9 Ardross Street

Inverness

IV3 5NN

FIXED ASSETS

Tangible assets

4

25,786

26,401

CURRENT ASSETS

Debtors

5

88,983

62,258

Cash at bank and in hand

456,331

499,937

545,314

562,195

CREDITORS

Amounts falling due within one year

6

317,028

369,946

NET CURRENT ASSETS

228,286

192,249

TOTAL ASSETS LESS CURRENT LIABILITIES

254,072

218,650

CAPITAL AND RESERVES

Called up share capital

40,534

40,534

Capital redemption reserve

1,466

1,466

Retained earnings

212,072

176,650

SHAREHOLDERS' FUNDS

254,072

218,650

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 director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 15 June 2020 and were signed by:

J M C Stark - Director

1.	STATUTORY INFORMATION

Kenneth Macleod Travel Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost

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 profit or loss 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. Payments in respect of directors pension

scheme are also charged to profit and loss in the relevant period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2018 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2019

and 31 December 2019

30,700

51,237

81,937

DEPRECIATION

At 1 January 2019

4,299

51,237

55,536

Charge for year

615

-

615

At 31 December 2019

4,914

51,237

56,151

NET BOOK VALUE

At 31 December 2019

25,786

-

25,786

At 31 December 2018

26,401

-

26,401

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

83,748

55,878

Other debtors

5,235

6,380

88,983

62,258

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

47,362

48,988

Other creditors

269,666

320,958

317,028

369,946

7.	RELATED PARTY DISCLOSURES

Private Pension - JEB, a pension scheme in which the one (2018: one) director is a trustee and member.

The company entered into a lease of office premises at 4 Mains Avenue, Glasgow on 11 May 2010 now at a

rental of £12,000 per annum and a lease of office premises at 211 Hope Street, Glasgow on 6 January 2009 now

at a rental of £20,000 per annum. The lease renewals will continue on a year by year basis by virtue of tacit

relocation, until either party gives notice to terminate the lease. Both of these properties are owned by Private

Pension - JEB.

8.	POST BALANCE SHEET EVENTS

On 12 January 2020, the company bought back 6934 £1 shares for £62,406.

9.	ULTIMATE CONTROLLING PARTY

At the year end, Julian Stark owned 83% of the share capital of the company and has controlling interest.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Kenneth Macleod Travel Limited for the year ended 31 December 2019 which comprise the

Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Kenneth Macleod Travel Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kenneth Macleod Travel Limited and state those matters that we have agreed to state to the director of Kenneth Macleod Travel Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Kenneth Macleod Travel Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kenneth Macleod Travel Limited. You consider that Kenneth Macleod Travel Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kenneth Macleod Travel Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Innes & Partners Limited

Chartered Certified Accountants

9 Ardross Street

Inverness

IV3 5NN

16 June 2020