CALVERLEY_TRAVEL_LIMITED - Accounts

CALVERLEY TRAVEL LIMITED - Company Information

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Company Registration No. 02222791 (England and Wales)

CALVERLEY TRAVEL LIMITED

(TRADING AS PETTITTS)

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2015

CALVERLEY TRAVEL LIMITED

(TRADING AS PETTITTS)

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CALVERLEY TRAVEL LIMITED

(TRADING AS PETTITTS)

ABBREVIATED BALANCE SHEET

AS AT

28 FEBRUARY 2015

- 1 -

28 February 2015

31 August 2013

as restated

Notes

Fixed assets

Tangible assets

1,294

Current assets

Debtors

20,101

141,054

Cash at bank and in hand

93,230

81,782

113,331

222,836

Creditors: amounts falling due within one year

(102,535)

(247,330)

Net current assets/(liabilities)

10,796

(24,494)

Total assets less current liabilities

10,796

(23,200)

Capital and reserves

Called up share capital

50,000

Profit and loss account

(39,204)

(73,200)

Shareholders' funds

10,796

(23,200)

For the financial period ended 28 February 2015 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 period 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 November 2015

Mr N. R. Berry

Director

Company Registration No. 02222791

CALVERLEY TRAVEL LIMITED

(TRADING AS PETTITTS)

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 28 FEBRUARY 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of VAT and trade discounts.

Turnover is recognised by reference to the date of departure.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures & fittings

20% on cost

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.6

Prior period adjustment

A prior period adjustment has been made to correct a brought forward difference on trade creditors (shown in the prior period financial statements grossed up to trade debtors). The difference had built up over a number of years due to errors on reconciling the control account. The net effect on reserves is £137,401, which has reduced shareholders' funds at 31 August 2013 from £114,201 as originally stated to £(23,200) as restated. There is no effect on the current or prior period result.

CALVERLEY TRAVEL LIMITED

(TRADING AS PETTITTS)

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 28 FEBRUARY 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 September 2013

47,820

Additions

9,113

Disposals

(56,933)

At 28 February 2015

Depreciation

At 1 September 2013

46,526

On disposals

(48,509)

Charge for the period

1,983

At 28 February 2015

Net book value

At 28 February 2015

At 31 August 2013

1,294

Share capital

2015

2013

Allotted, called up and fully paid

50,000 ordinary shares of £1 each

50,000

Related party relationships and transactions

Directors' loan accounts

Advances and credits granted to the directors during the period are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Director's loan account

5,907

2,095

3,812

Director's loan account

10,435

8,135

2,300

16,342

10,230

6,112

The overdrawn directors' loan accounts were repaid within nine months of the period end.