Fine Art Travel Limited - Period Ending 2015-11-30

 
 
 
 
 
 
 
  Fine Art Travel Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 30 November 2015
 
  Company Registration Number: 01855176

Fine Art Travel Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Fine Art Travel Limited
Abbreviated Balance Sheet
30 November 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			1,083			267
Current assets
Debtors					5,483			4,854
Cash at bank and in hand					58,163			93,548
					63,646			98,402
Creditors: Amounts falling due within one year					(58,471)			(94,293)
Net current assets					5,175			4,109
Net assets					6,258			4,376
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					6,158			4,276
Shareholders' funds					6,258			4,376

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

Fine Art Travel Limited
Abbreviated Balance Sheet
30 November 2015 ......... continued

For the year ending 30 November 2015 the company was entitled to exemption 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 30 March 2016 and signed on its behalf by:

Lord C FitzRoy
Company secretary and director

Company Registration Number: 01855176

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

Fine Art Travel Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 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 is the invoice value of fine art courses, lectures and tours that have commenced prior to the balance sheet date.

Depreciation

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

Asset class	Depreciation method and rate
Fixtures and fittings	4 years straight line
Computer 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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2014		18,242			18,242
Additions		1,423			1,423
At 30 November 2015		19,665			19,665
Depreciation
At 1 December 2014		17,975			17,975
Charge for the year		607			607
At 30 November 2015		18,582			18,582
Net book value
At 30 November 2015		1,083			1,083
At 30 November 2014		267			267

Page 3

Fine Art Travel Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 2015 ......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4