Company Registration No. NI068997 (Northern Ireland)
Travel Ireland Coach Tours Ltd
Unaudited accounts
for the year ended 31 December 2019
Travel Ireland Coach Tours Ltd
Unaudited accounts
Contents
Travel Ireland Coach Tours Ltd
Company Information
for the year ended 31 December 2019
Directors
Paul Cunningham
Mark Kelly
Thomas Patrick Muldoon
Gerard Slane
Sean Slane
Company Number
NI068997 (Northern Ireland)
Registered Office
UNITS 14 & 15 DUNCRUE INDUSTRIAL PARK
DUNCRUE ROAD
BELFAST
BT3 9BP
Accountants
PGR Chartered Accountants
Unit 2 Channel Wharf
21 Old Channel Road
Belfast
Antrim
BT3 9DE
Travel Ireland Coach Tours Ltd
Statement of financial position
as at 31 December 2019
Intangible assets
80,880
-
Tangible assets
1,379,262
899,841
Cash at bank and in hand
688
2,000
Creditors: amounts falling due within one year
(758,381)
(182,100)
Net current liabilities
(619,275)
(3,279)
Total assets less current liabilities
840,892
896,587
Creditors: amounts falling due after more than one year
(774,780)
(325,970)
Called up share capital
70,000
70,000
Revaluation reserve
168,150
168,150
Capital contribution reserve
2,000
2,000
Profit and loss account
(174,038)
330,467
Shareholders' funds
66,112
570,617
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 June 2021 and were signed on its behalf by
Paul Cunningham
Director
Company Registration No. NI068997
Travel Ireland Coach Tours Ltd
Notes to the Accounts
for the year ended 31 December 2019
Travel Ireland Coach Tours Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI068997. The registered office is UNITS 14 & 15 DUNCRUE INDUSTRIAL PARK, DUNCRUE ROAD, BELFAST, BT3 9BP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% straight line
Fixtures & fittings
20% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation is applied at 10% straight line.
The financial statements have been prepared on the going concern basis which assumes the company will continue in operational existence for the foreseeable future.
The validity of the going concern assumption is dependent on continued support from the company's lenders and from the ability of the company to generate positive cash and earnings before interest, tax depreciation and amortisation in future periods.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Travel Ireland Coach Tours Ltd
Notes to the Accounts
for the year ended 31 December 2019
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
At 31 December 2019
89,867
At 31 December 2019
80,880
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2019
916,046
25,725
941,771
Additions
914,300
10,534
924,834
Disposals
(211,000)
-
(211,000)
At 31 December 2019
1,619,346
36,259
1,655,605
At 1 January 2019
37,989
3,941
41,930
Charge for the year
227,161
7,252
234,413
At 31 December 2019
265,150
11,193
276,343
At 31 December 2019
1,354,196
25,066
1,379,262
At 31 December 2018
878,057
21,784
899,841
6
Investments
Other investments
Valuation at 1 January 2019
25
Valuation at 31 December 2019
25
Travel Ireland Coach Tours Ltd
Notes to the Accounts
for the year ended 31 December 2019
7
Debtors: amounts falling due within one year
2019
2018
Trade debtors
100,975
153,423
Accrued income and prepayments
15,000
-
Other debtors
10,443
19,398
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Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
44,754
35,076
Trade creditors
131,522
13,853
Amounts owed to group undertakings and other participating interests
126,263
-
Taxes and social security
16,475
(4,801)
Other creditors
302,324
92,172
Loans from directors
107,505
126,255
9
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
774,780
325,970
10
Transactions with related parties
Included in creditors are amounts due to related parties of £126,263.
11
Post balance sheet events
In December 2019, a novel strain of coronavirus ('COVID-19') was reported in Wuhan, China. The outbreak developed into an epidemic spreading worldwide, on 11 March 2020 the World Health Organization ('WHO') declared COVID-19 a pandemic. Subsequent to the year end the UK and Irish governments have implemented a number of measures including advising people to stay at home and only leave for prescribed limited exceptions.
In response to this, the Company temporarily ceased operations and implemented business continuity plans for certain staff to work from home. The operating sites have now restarted with strict social distancing measures in place and those staff who are able to work from home continue to do so. The company has assessed the coronavirus pandemic as a non-adjusting post balance sheet event. The company has undertaken a detailed review of the potential impact of COVID-19 and continues to monitor developments closely.
The Company secured finance under the Coronavirus Business Interruption Loan scheme and obtained £50,000 in 2020.
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Average number of employees
During the year the average number of employees was 49 (2018: 35).
