Noble Travel And Money Exchange Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04418682 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2016

FOR

NOBLE TRAVEL AND MONEY EXCHANGE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A Ali

A S Malik

REGISTERED OFFICE:

164-166 High Road

Ilford

Essex

IG1 1LL

REGISTERED NUMBER:

04418682 (England and Wales)

ACCOUNTANT:

J R Accounts

Chartered Certified Accountants

164-166 High Road

Ilford

Essex

IG1 1LL

FIXED ASSETS

Intangible assets

2

6,662

8,328

Tangible assets

3

45,107

55,486

51,769

63,814

CURRENT ASSETS

Debtors

666,880

823,571

Cash at bank and in hand

305,782

270,494

972,662

1,094,065

CREDITORS

Amounts falling due within one year

235,196

332,220

NET CURRENT ASSETS

737,466

761,845

TOTAL ASSETS LESS CURRENT
LIABILITIES

789,235

825,659

CREDITORS

Amounts falling due after more than one
year

25,128

32,010

NET ASSETS

764,107

793,649

CAPITAL AND RESERVES

Called up share capital

4

300

Share premium

-

91,913

Profit and loss account

763,807

701,436

SHAREHOLDERS' FUNDS

764,107

793,649

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 15 February 2017 and were signed on its behalf
by:

A S Malik - 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 represents net invoiced sales of goods, excluding value added tax.

Software amortisation policy

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

life.

Computer software - 20% on reducing balance

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

10,410

AMORTISATION

At 1 June 2015

2,082

Amortisation for year

1,666

At 31 May 2016

3,748

NET BOOK VALUE

At 31 May 2016

6,662

At 31 May 2015

8,328

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

76,007

DEPRECIATION

At 1 June 2015

20,521

Charge for year

10,379

At 31 May 2016

30,900

NET BOOK VALUE

At 31 May 2016

45,107

At 31 May 2015

55,486

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

300

Ordinary

£1

300

5.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr A Ali; a director and shareholder, Mr A S Malik; a director and

shareholder, and Mr S Bukhari; a shareholder. The controlling parties also have control of Noble Exchange

International Ltd.

6.	OFFSET OF DEBTOR AND CREDITOR BALANCE

Within other creditors was unpaid commission totalling £234,238.92 due to Noble Exchange International Ltd.

Within trade debtors there was a balance of £333,686.11 owed from Noble Exchange International Ltd.

It has been agreed with Noble Exchange International Ltd that they will settle their debt on a net basis.

Therefore, in trade debtors a net balance owed by Noble Exchange International Ltd now remains totalling

£99,447.19 payable within 1 year.