ACCOUNTS - Final Accounts

PRIVATE TRAVELLER LIMITED - Company Information

Caseware UK (AP4) 2014.0.91 2014.0.91 2017-03-312017-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetruetravel agentsfalse2016-04-01 09146436 2016-04-01 2017-03-31 09146436 2017-03-31 09146436 2016-03-31 09146436 2015-08-01 09146436 c:Director1 2016-04-01 2017-03-31 09146436 d:FurnitureFittings 2016-04-01 2017-03-31 09146436 d:FurnitureFittings 2017-03-31 09146436 d:FurnitureFittings d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 09146436 d:OfficeEquipment 2016-04-01 2017-03-31 09146436 d:OfficeEquipment 2017-03-31 09146436 d:OfficeEquipment d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 09146436 d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 09146436 d:ComputerSoftware 2016-04-01 2017-03-31 09146436 d:ComputerSoftware 2017-03-31 09146436 d:CurrentFinancialInstruments 2017-03-31 09146436 d:CurrentFinancialInstruments 2016-03-31 09146436 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 09146436 d:ShareCapital 2016-04-01 2017-03-31 09146436 d:ShareCapital 2017-03-31 09146436 d:ShareCapital 2016-03-31 09146436 d:ShareCapital 2015-08-01 09146436 d:SharePremium 2016-04-01 2017-03-31 09146436 d:SharePremium 2017-03-31 09146436 d:RetainedEarningsAccumulatedLosses 2016-04-01 2017-03-31 09146436 d:RetainedEarningsAccumulatedLosses 2017-03-31 09146436 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-03-31 09146436 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2017-03-31 09146436 c:FRS102 2016-04-01 2017-03-31 09146436 c:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 09146436 c:FullAccounts 2016-04-01 2017-03-31 09146436 c:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 iso4217:GBP xbrli:pure

Registered number: 09146436

PRIVATE TRAVELLER LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

PRIVATE TRAVELLER LIMITED

REGISTERED NUMBER: 09146436

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2017

		2017		2016
Note		£		£

Fixed assets
Intangible assets			19,655		-
Tangible assets			1,826		-
			21,481		-
Current assets
Debtors: amounts falling due within one year	6	1,092		10
Cash at bank and in hand		15,193		-
		16,285		10
Creditors: amounts falling due within one year		(750)		-
Net current assets			15,535		10
Total assets less current liabilities			37,016		10

Net assets			37,016		10

Page 1

PRIVATE TRAVELLER LIMITED

REGISTERED NUMBER: 09146436

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2017

	2017	2016
Note	£	£

Capital and reserves
Called up share capital	17	10
Share premium account	50,149	-
Profit and loss account	(13,150)	-
	37,016	10

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 July 2017.

P G Williams

Director

The notes on pages 5 to 9 form part of these financial statements.

Page 2

PRIVATE TRAVELLER LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2017

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2016	10	-	-	10
Comprehensive income for the year
Loss for the year	-	-	(13,150)	(13,150)
Other comprehensive income for the year	-	-	-	-
Total comprehensive income for the year	-	-	(13,150)	(13,150)
Shares issued during the year	7	50,149	-	50,156
Total transactions with owners	7	50,149	-	50,156
At 31 March 2017	17	50,149	(13,150)	37,016

Page 3

PRIVATE TRAVELLER LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2016

	Called up share capital	Total equity
	£	£
At 1 August 2015	10	10
Other comprehensive income for the period	-	-
Total comprehensive income for the period	-	-
Total transactions with owners	-	-
At 31 March 2016	10	10

The notes on pages 5 to 9 form part of these financial statements.

Page 4

PRIVATE TRAVELLER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

1.	General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales (No. 09146436). The registered office is Regus House, Herons Way, Chester Business Park, Chester CH4 9QR
These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principal activity of the company is that of a travel agency.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Information on the impact of first-time adoption of FRS 102 is given in note 11.

The presentational currency of these financial statements is £ sterling; the financial statements are rounded to the nearest £.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

·the amount of revenue can be measured reliably;

·it is probable that the Company will receive the consideration due under the contract;

·the stage of completion of the contract at the end of the reporting period can be measured reliably; and

·the costs incurred and the costs to complete the contract can be measured reliably.

Page 5

PRIVATE TRAVELLER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

2.Accounting policies (continued)

2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures & fittings	-	20%	per annum
				Office equipment	-	20%	per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Page 6

PRIVATE TRAVELLER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

2.Accounting policies (continued)

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2017	2016
	No.	No.

Directors	2	-

4.	Intangible assets

		Computer software
		£
	Cost
	Additions	19,655
	At 31 March 2017	19,655

	Net book value
	At 31 March 2017	19,655
	At 31 March 2016	-

Page 7

PRIVATE TRAVELLER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

5.	Tangible fixed assets

	Fixtures & fittings	Office equipment	Total
	£	£	£
Cost or valuation
Additions	499	1,784	2,283
At 31 March 2017	499	1,784	2,283
Depreciation
Charge for the year on owned assets	100	357	457
At 31 March 2017	100	357	457
Net book value
At 31 March 2017	399	1,427	1,826
At 31 March 2016	-	-	-

Debtors

					2017	2016
					£	£


Other debtors	1,092	-
Called up share capital not paid	-	10
	1,092	10

7.	Cash and cash equivalents
		2017	2016
		£	£

Cash at bank and in hand	15,193	-
	15,193	-

Page 8

PRIVATE TRAVELLER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

8.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Accruals and deferred income	750	-
	750	-

9.	Financial instruments
		2017	2016
		£	£

Financial assets
Financial assets measured at fair value through profit or loss	15,193	-
	15,193	-

Financial liabilities
Other financial liabilities measured at fair value through profit or loss	750	-
	750	-

	Financial assets measured at fair value through profit or loss comprise bank balances.
	Other financial liabilities measured at fair value through profit or loss comprise accruals.

10.	Controlling party

The company is controlled by P G Williams, director and shareholder.

11.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Page 9