Magic Carpet Travel Limited - Accounts to registrar (filleted) - small 18.2
Magic Carpet Travel Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2020 |
for |
MAGIC CARPET TRAVEL LIMITED |
MAGIC CARPET TRAVEL LIMITED (REGISTERED NUMBER: 03045408) |
Contents of the Financial Statements |
for the Year Ended 30 April 2020 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Certified Accountants' Report | 7 |
MAGIC CARPET TRAVEL LIMITED |
Company Information |
for the Year Ended 30 April 2020 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
337 Bath Road |
Slough |
Berkshire |
SL1 5PR |
MAGIC CARPET TRAVEL LIMITED (REGISTERED NUMBER: 03045408) |
Abridged Balance Sheet |
30 April 2020 |
30.4.20 | 30.4.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
MAGIC CARPET TRAVEL LIMITED (REGISTERED NUMBER: 03045408) |
Abridged Balance Sheet - continued |
30 April 2020 |
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 |
MAGIC CARPET TRAVEL LIMITED (REGISTERED NUMBER: 03045408) |
Notes to the Financial Statements |
for the Year Ended 30 April 2020 |
1. | STATUTORY INFORMATION |
Magic Carpet Travel Limited is a |
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. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
The company makes estimates and assumptions concerning the future. The resulting accounting estimates and |
judgements by definition, seldom equal the related actual results. There are no estimates and assumptions that |
have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the |
next financial period. |
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 |
Plant and machinery etc | - |
MAGIC CARPET TRAVEL LIMITED (REGISTERED NUMBER: 03045408) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial assets and |
liabilities. |
Short term debtors are measured at transaction price, less any impairment. Long term debtors and loan |
receivable are measured initially at transaction price, net of transaction costs and are subsequently measured at |
fair value using the effective interest method, less any impairment. |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice |
of withdrawal. Cash equivalents are readily convertible to known amounts of cash with insignificant risk of |
change in value. |
Short term creditors are measured at transaction price. Long term creditors and loans are measured initially at |
transaction price, net of transaction costs and are subsequently measured at fair value using the effective |
interest method. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other |
accounts receivable and payable, are initially measured at present value of the future cash flows and |
subsequently at amortised cost using the effective interest method. |
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. |
MAGIC CARPET TRAVEL LIMITED (REGISTERED NUMBER: 03045408) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2019 |
and 30 April 2020 |
DEPRECIATION |
At 1 May 2019 |
Charge for year |
At 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.20 | 30.4.19 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
Chartered Certified Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Magic Carpet Travel Limited |
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 Abridged 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 Magic Carpet Travel Limited for the year ended 30 April 2020 which comprise the Abridged |
Income Statement, Abridged Balance Sheet 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 Magic Carpet Travel Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Magic Carpet Travel Limited and state those matters that we have agreed to state to the director of Magic Carpet 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 Magic Carpet 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 loss of Magic Carpet Travel Limited. You consider that Magic Carpet 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 Magic Carpet 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. |
337 Bath Road |
Slough |
Berkshire |
SL1 5PR |