Nonstop Adventure Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04348126 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2015

for

Nonstop Adventure Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R J E Taylor

J P E Taylor

M A E Tayabali

C A S Collett

A F R Boys

L P Barnes

REGISTERED OFFICE:

5 Argyle Street

Bath

BA2 4BA

REGISTERED NUMBER:

04348126 (England and Wales)

FIXED ASSETS

Tangible assets

2

747,735

817,053

Investments

3

2

2

747,737

817,055

CURRENT ASSETS

Stocks

469

740

Debtors

89,454

156,681

Cash at bank and in hand

31,699

90,548

121,622

247,969

CREDITORS

Amounts falling due within one year

527,796

659,056

NET CURRENT LIABILITIES

(406,174

)

(411,087

)

TOTAL ASSETS LESS CURRENT LIABILITIES

341,563

405,968

CREDITORS

Amounts falling due after more than one year

-

(150,000

)

PROVISIONS FOR LIABILITIES

(22,813

)

(23,958

)

NET ASSETS

318,750

232,010

CAPITAL AND RESERVES

Called up share capital

4

44,103

44,103

Profit and loss account

274,647

187,907

SHAREHOLDERS' FUNDS

318,750

232,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 3 September 2015 and were signed on its behalf by:

R J E Taylor - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover comprises amounts receivable for the provision of courses and travel facilities. Income invoiced and

due prior to the year end in respect of services to be rendered in the following year is carried forward as

deferred income.

Tangible fixed assets

All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the

useful economic life of that asset as follows:

Freehold property - 4% reducing balance

Fixtures & Fittings - 20-55% reducing balance

Motor Vehicles - 30% reducing balance

Computer Equipment - 35-55% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date where transactions or events have occurred at that date that will result in an obligation to

pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed

assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the

extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned.

However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is

more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only

where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not

that there will be suitable taxable profits from which the future reversal of the underlying timing differences

can be deducted.

Deferred tax is measured on an undiscovered basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

balance sheet

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions through the year incurred in foreign currencies are translated at the average

rate of exchange for the month in which the transaction was effected. Exchange differences are taken into

account in arriving at the operating result with the exception that differences arising on the restatement of

non-monetary items are taken directly to reserves.

Hire purchase and leasing commitments

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain

with the lessor are charged against profits on a straight line basis over the period of the lease.

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 the profit and loss account in the period to which they relate.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the

assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar

debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are

presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are

included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return

on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of financial liability

then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are

debited direct to equity.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

1,211,395

Additions

40,267

Disposals

(5,934

)

Exchange differences

(83,297

)

At 30 June 2015

1,162,431

DEPRECIATION

At 1 July 2014

394,342

Charge for year

50,629

Eliminated on disposal

(3,766

)

Exchange differences

(26,509

)

At 30 June 2015

414,696

NET BOOK VALUE

At 30 June 2015

747,735

At 30 June 2014

817,053

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2014

and 30 June 2015

2

NET BOOK VALUE

At 30 June 2015

2

At 30 June 2014

2

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.15

30.6.14

value:

£

£

1

A Ordinary shares

£1

1

1

NIL

B Ordinary shares

£1

-

1

1

C ordinary shares

£1

1

1

44,100

Ordinary shares

£1

44,100

44,100

2

B Ordinary shares (50p)

50p

1

-

44,103

44,103

Allotted and issued:

Number:

Class:

Nominal

30.6.15

30.6.14

value:

£

£

2

B Ordinary

50p

1

-

During the year the existing "B ordinary" share with a nominal value of £1 was split in to two "B ordinary"

shares with a value of 50p per share.