Travel Destinations Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03241674 (England and Wales)

Unaudited Financial Statements

for the Period 1 January 2020 to 5 October 2020

for

TRAVEL DESTINATIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DIRECTOR:

D Ballentine

REGISTERED OFFICE:

5 Weltech Centre

Ridgeway

Welwyn Garden City

Hertfordshire

AL7 2AA

REGISTERED NUMBER:

03241674 (England and Wales)

ACCOUNTANTS:

Trevor Jones & Partners Ltd

Springfield House

99/101 Crossbrook Street

Cheshunt

Waltham Cross

Hertfordshire

EN8 8JR

FIXED ASSETS

Tangible assets

4

5,841

6,720

CURRENT ASSETS

Debtors

5

8,678

11,524

Investments

6

80,175

80,175

Cash at bank and in hand

730,569

595,706

819,422

687,405

CREDITORS

Amounts falling due within one year

7

96,485

37,531

NET CURRENT ASSETS

722,937

649,874

TOTAL ASSETS LESS CURRENT LIABILITIES

728,778

656,594

CREDITORS

Amounts falling due after more than one year

8

50,000

-

NET ASSETS

678,778

656,594

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

628,778

606,594

SHAREHOLDERS' FUNDS

678,778

656,594

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 5 October 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 5 October 2020 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 27 May 2021 and were signed by:

D Ballentine - Director

1.	STATUTORY INFORMATION

Travel Destinations Limited is a private company, limited by shares , 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.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 period was 6 (2019 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2020

80,848

10,450

26,435

117,733

Additions

1,063

-

4,328

5,391

Disposals

-

(10,450

)

-

(10,450

)

At 5 October 2020

81,911

-

30,763

112,674

DEPRECIATION

At 1 January 2020

80,308

10,450

20,255

111,013

Charge for period

553

-

5,717

6,270

Eliminated on disposal

-

(10,450

)

-

(10,450

)

At 5 October 2020

80,861

-

25,972

106,833

NET BOOK VALUE

At 5 October 2020

1,050

-

4,791

5,841

At 31 December 2019

540

-

6,180

6,720

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

2,811

2

VAT

1,980

4,241

Prepayments

3,887

7,281

8,678

11,524

6.	CURRENT ASSET INVESTMENTS

2020

2019

£

£

Unlisted investments

80,175

80,175

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

2,239

-

Tax

5,374

18,857

Social security and other taxes

5,090

8,907

Other creditors

5,118

8

Directors' current accounts

-

5,845

Accruals and deferred income

74,750

-

Accrued expenses

3,914

3,914

96,485

37,531

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 2-5 years

50,000

-

9.	POST BALANCE SHEET EVENTS

As of 6 October 2020, 100% of the company shares where purchase by Motorsport Network LLC.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is Mr A J Melley by virtue of his majority shareholding.

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 Travel Destinations Limited for the period ended 5 October 2020 which comprise the Income Statement, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Travel Destinations Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Travel Destinations Limited and state those matters that we have agreed to state to the director of Travel Destinations Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Travel Destinations Limited and its director for our work or for this report.

It is your duty to ensure that Travel Destinations 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 Travel Destinations Limited. You consider that Travel Destinations Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Travel Destinations 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.

Trevor Jones & Partners Ltd

Springfield House

99/101 Crossbrook Street

Cheshunt

Waltham Cross

Hertfordshire

EN8 8JR

27 May 2021