Dragoman Overseas Travel Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 02732524 (England and Wales)

Unaudited Financial Statements

for the Period 1 July 2016 to 31 December 2016

for

Dragoman Overseas Travel Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C H K Hopkinson

Mr G Durie

Mr G B Manchester

SECRETARY:

Mr C H K Hopkinson

REGISTERED OFFICE:

Camp Green

Kenton Road

Debenham

Stowmarket

Suffolk

IP14 6LA

REGISTERED NUMBER:

02732524 (England and Wales)

ACCOUNTANTS:

Turner & Ellerby

Chartered Certified Accountants

5 Church Street

Framlingham

Woodbridge

Suffolk

IP13 9BQ

FIXED ASSETS

Tangible assets

4

531,514

514,106

CURRENT ASSETS

Stocks

28,568

42,220

Debtors

5

465,738

321,614

Cash at bank and in hand

1,017,759

940,802

1,512,065

1,304,636

CREDITORS

Amounts falling due within one year

6

1,371,837

1,256,404

NET CURRENT ASSETS

140,228

48,232

TOTAL ASSETS LESS CURRENT LIABILITIES

671,742

562,338

CREDITORS

Amounts falling due after more than one year

7

309,593

309,593

NET ASSETS

362,149

252,745

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Revaluation reserve

9

127,631

127,631

Retained earnings

204,518

95,114

SHAREHOLDERS' FUNDS

362,149

252,745

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26 April 2017 and were signed on its behalf by:

Mr G Durie - Director

Mr C H K Hopkinson - Director

1.	STATUTORY INFORMATION

Dragoman Overseas Travel Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

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

-

not provided

Improvements to property

-

5% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

The Company has adopted a policy of revaluing it's Freehold Property in accordance with the

provisions of FRS 102 section 1a. As a result, the director's consider that Freehold Properties are

shown at fair value.

Freehold properties are therefore not depreciated but are subject to regular revaluations and

impairment reviews by the directors who will instruct independent valuations if needed.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have

been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the period end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 56 (2016 - 59 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST OR VALUATION

At 1 July 2016

275,000

52,514

114,725

Additions

-

-

2,557

At 31 December 2016

275,000

52,514

117,282

DEPRECIATION

At 1 July 2016

-

23,014

96,531

Charge for period

-

1,482

4,342

Eliminated on disposal

-

-

-

At 31 December 2016

-

24,496

100,873

NET BOOK VALUE

At 31 December 2016

275,000

28,018

16,409

At 30 June 2016

275,000

29,500

18,194

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 July 2016

49,575

752,520

133,547

1,377,881

Additions

-

67,429

454

70,440

Disposals

-

(17,652

)

-

(17,652

)

At 31 December 2016

49,575

802,297

134,001

1,430,669

DEPRECIATION

At 1 July 2016

49,221

568,069

126,940

863,775

Charge for period

78

45,116

2,014

53,032

Eliminated on disposal

-

(17,652

)

-

(17,652

)

At 31 December 2016

49,299

595,533

128,954

899,155

NET BOOK VALUE

At 31 December 2016

276

206,764

5,047

531,514

At 30 June 2016

354

184,451

6,607

514,106

Cost or valuation at 31 December 2016 is represented by:

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

Valuation in 2015

127,631

-

-

Cost

147,369

52,514

117,282

275,000

52,514

117,282

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Valuation in 2015

-

-

-

127,631

Cost

49,575

802,297

134,001

1,303,038

49,575

802,297

134,001

1,430,669

If freehold land and buildings had not been revalued they would have been included at the following

historical cost:

2016

2016

£

£

Cost

147,369

147,369

Freehold land and buildings were valued on an open market basis on 20 July 2015 by James Aldridge Chartered Surveyors

.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2016

£

£

Trade debtors

108,464

48,630

VAT

4,895

2,789

Prepayments and accrued income

352,379

270,195

465,738

321,614

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2016

£

£

Trade creditors

1,124,668

1,087,583

Tax

239

177

Social security and other taxes

13,885

15,305

Accrued expenses

233,045

153,339

1,371,837

1,256,404

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2016

£

£

Other loans (see note 8)

209,593

209,593

Directors' loan accounts

100,000

100,000

309,593

309,593

8.

LOANS

An analysis of the maturity of loans is given below:

2016

2016

£

£

Amounts falling due between one and two years:

Dragoman Travel Limited

209,593

209,593

9.

RESERVES

Revaluation

reserve

£

At 1 July 2016

and 31 December 2016

127,631

10.	FIRST YEAR ADOPTION

The policies applied under the entities previous accounting framework are not materially different to

FRS 102 Section 1a and have not impacted on equity or profit or loss.