Prestigious Travel UK Ltd - Period Ending 2015-03-31

Company registration number: 06528461

Prestigious Travel UK Ltd
 
  Annual Report and Unaudited Abbreviated Accounts
 
  Year Ended 31 March 2015
 

Beresfords
  Chartered Accountants
  Castle House
  Castle Hill Avenue
  Folkestone
  Kent
  CT20 2TQ

Prestigious Travel UK Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Prestigious Travel UK Ltd
(Company registration number: 06528461)
Abbreviated Balance Sheet
31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					675			3,710
Current assets
Debtors					5,150			9,372
Cash at bank and in hand					31,403			7,481
					36,553			16,853
Creditors: Amounts falling due within one year					(77,370)			(50,382)
Net current liabilities					(40,817)			(33,529)
Net liabilities					(40,142)			(29,819)
Capital and reserves
Called up share capital		3			5,000			5,000
Profit and loss account					(45,142)			(34,819)
Shareholders' deficit					(40,142)			(29,819)

The notes on pages 3 to 4 form an integral part of these financial statements.
 
  Page 1

Prestigious Travel UK Ltd
(Company registration number: 06528461)
Abbreviated Balance Sheet
31 March 2015......... continued

For the year ending 31 March 2015 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 23 December 2015 and signed on its behalf by:

......................................... Mr J W R Calthorpe Director

The notes on pages 3 to 4 form an integral part of these financial statements.
 
  Page 2

Prestigious Travel UK Ltd
Notes to the Abbreviated Accounts
Year Ended 31 March 2015......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Equipment	3 years straight line

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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Prestigious Travel UK Ltd
Notes to the Abbreviated Accounts
Year Ended 31 March 2015......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		9,104			9,104
At 31 March 2015		9,104			9,104
Depreciation
At 1 April 2014		5,394			5,394
Charge for the year		3,035			3,035
At 31 March 2015		8,429			8,429
Net book value
At 31 March 2015		675			675
At 31 March 2014		3,710			3,710

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		5,000			5,000			5,000			5,000

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