Nonstop Adventure Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04348126 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

for

NONSTOP ADVENTURE LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

R J E Taylor

L P Barnes

A F R Boys

M A E Tayabali

J P E Taylor

REGISTERED OFFICE:

5 Argyle Street

Bath

BA2 4BA

REGISTERED NUMBER:

04348126 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages three to seven) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Nonstop Adventure Limited for the year ended 30 June 2016 which comprise the

Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records

and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Nonstop Adventure Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nonstop Adventure Limited and state those matters that we have agreed to state to the Board of Directors of Nonstop Adventure Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nonstop Adventure Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nonstop Adventure Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nonstop Adventure Limited. You consider that Nonstop Adventure Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nonstop Adventure Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

22 December 2016

FIXED ASSETS

Tangible assets

2

821,177

747,735

Investments

3

2

821,179

747,737

CURRENT ASSETS

Stocks

350

469

Debtors

77,236

89,454

Cash at bank and in hand

245,242

31,699

322,828

121,622

CREDITORS

Amounts falling due within one year

478,459

527,796

NET CURRENT LIABILITIES

(155,631

)

(406,174

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

665,548

341,563

PROVISIONS FOR LIABILITIES

23,452

22,813

NET ASSETS

642,096

318,750

CAPITAL AND RESERVES

Called up share capital

4

44,103

Profit and loss account

597,993

274,647

SHAREHOLDERS' FUNDS

642,096

318,750

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 21 December 2016 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 January 2015).

Turnover

Turnover comprises amounts receivable for the provision of courses delivered in the year and

corresponding travel facilities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

4% on reducing balance

Fixtures and fittings

-

20-55% on reducing balance

Motor vehicles

-

30% on reducing balance

Computer equipment

-

35-55% on 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.

Foreign currencies

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

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

1,162,431

Additions

30,472

Disposals

(5,584

)

Exchange differences

156,025

At 30 June 2016

1,343,344

DEPRECIATION

At 1 July 2015

414,696

Charge for year

51,284

Eliminated on disposal

(3,419

)

Exchange differences

59,606

At 30 June 2016

522,167

NET BOOK VALUE

At 30 June 2016

821,177

At 30 June 2015

747,735

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2015

and 30 June 2016

2

NET BOOK VALUE

At 30 June 2016

2

At 30 June 2015

2

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number
:

Class:

Nominal

2016

2015

value:

£

1

A ordinary shares

£1

1

2

B ordinary shares (50p)

£0.50

1

C ordinary shares

£1

1

44,100

Ordinary shares

£1

44,100

44,103

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors are amounts owed to the directors, Mr J P E Taylor and Mr R J E

Taylor, of £210,601 and £33,682 respectively. (2015: £247,393 and £46,209 respectively).

The directors' loans may be repaid at any time subject to approval by a majority of the directors. Any

loans not paid after seven years may be converted to ordinary shares at fair market price at the option

of the company or each director. The directors are entitled to interest on their loans and current

accounts at 1.25% over base rate; the amount charged during the year amounted to £5,408 (2015:

£6,571).

6.	CONTROLLING PARTY

The company is controlled by the directors as they own the majority of the share capital.