LAI Travel Ltd - Abbreviated accounts 16.3

LAI Travel Ltd - Abbreviated accounts 16.3

L.A.I. TRAVEL LIMITED - Company Information

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REGISTERED NUMBER: 01383022 (England and Wales)















Abbreviated Unaudited Accounts for the Year Ended 31 October 2016

for

LAI Travel Ltd

LAI Travel Ltd (Registered number: 01383022)






Contents of the Abbreviated Accounts
for the Year Ended 31 October 2016




Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 3

LAI Travel Ltd (Registered number: 01383022)

Abbreviated Balance Sheet
31 October 2016

31.10.16 31.10.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 726 1,452

CURRENT ASSETS
Debtors 402,478 193,570
Cash at bank 1,598 461
404,076 194,031
CREDITORS
Amounts falling due within one year 3 340,636 115,979
NET CURRENT ASSETS 63,440 78,052
TOTAL ASSETS LESS CURRENT
LIABILITIES
64,166
79,504

CREDITORS
Amounts falling due after more than one
year
3
-
16,472
NET ASSETS 64,166 63,032

CAPITAL AND RESERVES
Called up share capital 4 92,000 92,000
Profit and loss account (27,834 ) (28,968 )
SHAREHOLDERS' FUNDS 64,166 63,032

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 notes form part of these abbreviated accounts

Page 1 continued...
LAI Travel Ltd (Registered number: 01383022)

Abbreviated Balance Sheet - continued
31 October 2016


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 26 September 2017 and were signed on its behalf
by:





V Raccuglia - Director


The notes form part of these abbreviated accounts

Page 2
LAI Travel Ltd (Registered number: 01383022)

Notes to the Abbreviated Accounts
for the Year Ended 31 October 2016

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 the total invoice value, excluding value added tax, of sales made during the year. Revenue is
recognised on the date of departure.

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

Plant and machinery etc - 20% on cost and 5% on cost

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable
taxable profits from which the future reversal of the underlying timing differences can be deducted.

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.

Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 November 2015
and 31 October 2016 5,756
DEPRECIATION
At 1 November 2015 4,304
Charge for year 726
At 31 October 2016 5,030
NET BOOK VALUE
At 31 October 2016 726
At 31 October 2015 1,452

3. CREDITORS

Creditors include an amount of £ 56,677 (31.10.15 - £ 82,298 ) for which security has been given.

Page 3 continued...
LAI Travel Ltd (Registered number: 01383022)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 October 2016

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.16 31.10.15
value: £    £   
92,000 Ordinary shares £1 92,000 92,000

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2016 and
31 October 2015:

31.10.16 31.10.15
£    £   
V Raccuglia
Balance outstanding at start of year - -
Amounts advanced 160,717 -
Amounts repaid - -
Balance outstanding at end of year 160,717 -

Page 4