24/7 Corporate Travel Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07197967 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

24/7 CORPORATE TRAVEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Highland

REGISTERED OFFICE:

15 The Broadway

Penn Road

Beaconsfield

Buckinghamshire

HP9 2PD

REGISTERED NUMBER:

07197967 (England and Wales)

ACCOUNTANTS:

O'Sullivan & Co

Chartered Certified Accountants

15 The Broadway

Penn Road

Beaconsfield

Buckinghamshire

HP9 2PD

FIXED ASSETS

Tangible assets

4

3,925

3,963

CURRENT ASSETS

Debtors

5

5,854

11,783

Cash at bank

41,741

46,401

47,595

58,184

CREDITORS

Amounts falling due within one year

6

55,125

59,080

NET CURRENT LIABILITIES

(7,530

)

(896

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,605

)

3,067

PROVISIONS FOR LIABILITIES

7

-

793

NET (LIABILITIES)/ASSETS

(3,605

)

2,274

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(3,705

)

2,174

SHAREHOLDERS' FUNDS

(3,605

)

2,274

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 18 September 2017 and were signed by:

A Highland - Director

1.	STATUTORY INFORMATION

24/7 Corporate 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. The reported financial position and financial performance for the previous year are not affected by

the transition to FRS 102. The company transitioned from previously extant UK GAAP to FRS 102 as at 1 May

2016.

The financial statements have been prepared on a going concern basis on the grounds that the director continues

to provide sufficient finance.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to

the nearest £.

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

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and

accumulated impairment losses.

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

life,

Computer equipment - 30% on reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine

whether there is any indication that any item have suffered an impairment loss. If any such indication exists, the

recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any.

Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable

amount of the cash-generating unit to which the asset belongs

Taxation

Taxation for the year 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 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 year 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

22,166

Additions

1,644

At 30 April 2017

23,810

DEPRECIATION

At 1 May 2016

18,203

Charge for year

1,682

At 30 April 2017

19,885

NET BOOK VALUE

At 30 April 2017

3,925

At 30 April 2016

3,963

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

5,665

10,002

Other debtors

189

1,781

5,854

11,783

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade creditors

4,558

14,007

Taxation and social security

461

-

Other creditors

50,106

45,073

55,125

59,080

7.	PROVISIONS FOR LIABILITIES

30.4.17

30.4.16

£

£

Deferred tax

-

793

Deferred

tax

£

Balance at 1 May 2016

793

Accelerated capital allowances

(793

)

Balance at 30 April 2017

-

8.	RELATED PARTY DISCLOSURES

Mr A Highland is also a 100% shareholder and Director of Asset2Asset Limited, registered in England & Wales

number 06962056 an asset finance and vehicle leasing company. During the year consulting fees and

bookkeeping fees totalling £800 were paid to Asset2Asset Limited. As at 30 April 2017 the balance due to

Asset2Asset Limited was £14,390 (2016: £23,199)

9.	ULTIMATE CONTROLLING PARTY

In the view of the Director, Mr. A. Highland who owns 100% of the share capital is the controller of the

company.