Manchester Sightseeing Tours Limited Filleted accounts for Companies House (small and micro)

MANCHESTER SIGHTSEEING TOURS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10787740

Manchester Sightseeing Tours Limited

Filleted Unaudited Financial Statements

For the Period Ended

31 December 2020

Manchester Sightseeing Tours Limited

Statement of Financial Position

31 December 2020

	2020	2019
Note	£	£

Current assets

Debtors	4	150	2,590
Cash at bank and in hand		18,198	22,052
		--------	--------
		18,348	24,642

Creditors: amounts falling due within one year	5	13,283	22,146
		--------	--------
Net current assets		5,065	2,496
		-------	-------
Total assets less current liabilities		5,065	2,496
		-------	-------
Net assets		5,065	2,496
		-------	-------

Capital and reserves

Called up share capital	3	3
Profit and loss account	5,062	2,493
	-------	-------
Shareholders funds	5,065	2,496
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 30 August 2021 , and are signed on behalf of the board by:

Mr A Beard

Director

Company registration number: 10787740

Manchester Sightseeing Tours Limited

Notes to the Financial Statements

Year Ended 31 December 2020

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Chapel House, 1 Borough Road, Altrincham, Cheshire, WA15 9RA.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: - Determination of recoverability of trade debtors. A specific provision is made against certain debts where in the opinion of the directors the debt is not fully recoverable. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: - It is the opinion of the directors that there are no key estimates.

Revenue Recognition

The turnover shown in the profit and loss account represents the revenue recognised by the company in respect of services supplied. Turnover is recognised in the profit and loss account in the period that the tour organised by the company commences.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial Instruments

The company has elected to apply the provisions of section 11 'Basic financial instruments' and section 12 'Other financial instruments' FRS102 in full to all of its financial instruments. Financial assets Trade, group and other debtors Trade, group and other debtors (including accrued income) which are receivable within one year which do not constitute a financial transaction are initially measured at the transaction price and subsequently measured as amortised cost, being the transaction price less any amounts settled and any impaired losses. A provision for impairment of trade debtors is established where there is objective evidence that the amounts due will not be recognised in the profit or loss for the excess if the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss. Trade, group and other creditors Trade, group and other creditors (including accruals) payable within one year that do not constitute a financing transaction are initially measured as the transaction price and subsequently measured at amortised cost, being transaction price less any amounts settled.

4. Debtors

	2020	2019
	£	£
Trade debtors	135	2,590
Other debtors	15	–
	----	-------
	150	2,590
	----	-------

5. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	128	3,154
Corporation tax	606	104
Social security and other taxes	–	9
Other creditors	12,549	18,879
	--------	--------
	13,283	22,146
	--------	--------

6. Controlling Party

In the opinion of the directors, the company was under the control of PJ Beaumont, who controls 66.6% of the issued share capital during the period under review.