United Travel Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01055744 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

FOR

UNITED TRAVEL GROUP LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D Wright

REGISTERED OFFICE:

Command House

14 The Green

Newport Pagnell

Buckinghamshire

MK16 0JW

REGISTERED NUMBER:

01055744 (England and Wales)

ACCOUNTANTS:

Cube Partners Limited

Chartered Accountants

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

FIXED ASSETS

Intangible assets

4

1,026,000

335,900

Tangible assets

5

460,812

326,104

Investments

6

1,000,020

778,149

2,486,832

1,440,153

CURRENT ASSETS

Debtors

803,650

433,265

Cash at bank

1,010,456

1,263,205

1,814,106

1,696,470

CREDITORS

Amounts falling due within one year

830,986

298,740

NET CURRENT ASSETS

983,120

1,397,730

TOTAL ASSETS LESS CURRENT LIABILITIES

3,469,952

2,837,883

CREDITORS

Amounts falling due after more than one year

7

778,850

388,102

NET ASSETS

2,691,102

2,449,781

CAPITAL AND RESERVES

Called up share capital

4

4

Property Revaluation Reserve

8

56,818

56,818

Retained earnings

2,634,280

2,392,959

SHAREHOLDERS' FUNDS

2,691,102

2,449,781

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 28 August 2018 and were signed by:

Mr D Wright - Director

1.	STATUTORY INFORMATION

United Travel Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 November 2017 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the

date of transition to FRS 102 Section 1A is 1 December 2015.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates

and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other

sources. The estimates and associated assumptions are based on historical experience and other factors that are

considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised where the revision affects only that period, or in the

period of revision and future periods where the revision affects both current and future periods.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of

Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done

in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts

for on-going services is recognised by reference to the stage of completion.

Goodwill

Goodwill relates to the acquisition of businesses in 2011, 2012 and 2017 and are being amortised over their

estimated useful lives of ten years. Impairment reviews are undertaken at the end of each financial year and

impairment losses are written off to the profit and loss account to bring the value of the goodwill down to its

estimated market value.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

2% on valuation

Leasehold Property

-

10% on cost

Plant and machinery

-

20% on cost and 15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

33% on cost

Office Equipment

-

20% on cost and 15% on reducing balance

Land and buildings are carried at their revalued amounts, being fair value at the date of valuation less subsequent

depreciation and impairment losses. Revaluations are performed with sufficient regularity to ensure that the

carrying amounts do not differ materially from those that would be determined using fair values at the end of

each reporting period.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine

whether there is any indication that those assets 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 an individual asset, the company estimates the

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

Investments in subsidiaries

Investment in subsidiary undertakings are recognised at cost less impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

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 year was 25 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2016

751,600

Additions

848,068

At 30 November 2017

1,599,668

AMORTISATION

At 1 December 2016

415,700

Amortisation for year

157,968

At 30 November 2017

573,668

NET BOOK VALUE

At 30 November 2017

1,026,000

At 30 November 2016

335,900

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2016

679,556

Additions

260,322

Disposals

(30,619

)

At 30 November 2017

909,259

DEPRECIATION

At 1 December 2016

353,452

Charge for year

113,739

Eliminated on disposal

(18,744

)

At 30 November 2017

448,447

NET BOOK VALUE

At 30 November 2017

460,812

At 30 November 2016

326,104

Included in cost of land and buildings is freehold land of £ 25,000 (2016 - £ 25,000 ) which is not depreciated.

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 December 2016

778,149

Additions

1,000,000

Contribution received

(230,061

)

Transfer to goodwill

(548,068

)

At 30 November 2017

1,000,020

NET BOOK VALUE

At 30 November 2017

1,000,020

At 30 November 2016

778,149

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2017

2016

£

£

Repayable by instalments

Bank loans > 5 years

54,124

63,542

8.

RESERVES

Property

Revaluation

Reserve

£

At 1 December 2016

and 30 November 2017

56,818