BGTRAVEL_LTD_31_Jan_2020_companies_house_set_of_accounts.html
BGTRAVEL_LTD_31_Jan_2020_companies_house_set_of_accounts.html
Company registration number:
Report to the board of directors on the preparation of the unaudited statutory financial statements of Bg Travel Ltd
Year ended 31 January 2020
As described on the abridged statement of financial position, the Board of Directors of Bg Travel Ltd are responsible for the preparation of the abridged financial statements for the year ended 31 January 2020 , which comprise the abridged income statement, abridged statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
9 Lydden roadUnit 16LondonUKSW18 4LTUnited Kingdom
Date:
25 November 2020
Abridged Statement of Financial Position
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 5 |
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| Creditors: amounts falling due within one year |
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- | |||
| Net current assets |
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- | |||
| Total assets less current liabilities | 10,863 | 9,444 | |||
| Capital and reserves | |||||
| Share premium |
(
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) |
(
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) | |
| Profit and loss account |
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| Shareholders funds |
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For the year ending 31 January 2020 , 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 abridged financial statements for the year in question in accordance with section 476; The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position and the abridged income statement for the year ended 31 January 2020 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged 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.
These abridged financial statements were approved by the board of directors and authorised for issue on 25 November 2020 , and are signed on behalf of the board by:
| Director |
Company registration number:
08838990
Notes to the Abridged Financial Statements
Year ended 31 January 2020
1 General information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 9 Lydden Road , Earlsfield Business Centre , London , SW18 4LT , England.
2 Statement of compliance
These abridged financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.
3 Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The abridged financial statements are prepared in sterling, which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4 Average number of employees
The average number of persons employed by the company during the year was Nil (2019: Nil).
5 Fixed assets
| Tangible assets | ||
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| £ | ||
| Cost | ||
| At |
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| Depreciation | ||
| At |
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| Carrying amount | ||
| At |
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| At 31 January 2019 |
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