Ashley Travel Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03258009 (England and Wales)

ASHLEY TRAVEL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2017

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Powell

D W Burdett

SECRETARY:

S Powell

REGISTERED OFFICE:

42 Bridge Street,

Killamarsh,

Sheffield,

South Yorkshire.

S31 8AH

REGISTERED NUMBER:

03258009 (England and Wales)

ACCOUNTANTS:

Mr A K Fawbert FCA for Fawbert Adams

Chartered Accountants

43 Clarence Road

Chesterfield

Derbyshire

S40 1LQ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

890,857

795,712

Investment property

6

27,462

27,462

918,319

823,174

CURRENT ASSETS

Debtors

110,993

78,155

Cash at bank and in hand

53,748

119,067

164,741

197,222

CREDITORS

Amounts falling due within one year

(281,427

)

(214,784

)

NET CURRENT LIABILITIES

(116,686

)

(17,562

)

TOTAL ASSETS LESS CURRENT LIABILITIES

801,633

805,612

CREDITORS

Amounts falling due after more than one year

(289,263

)

(323,231

)

PROVISIONS FOR LIABILITIES

(90,495

)

(90,495

)

NET ASSETS

421,875

391,886

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

421,871

391,882

SHAREHOLDERS' FUNDS

421,875

391,886

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2017 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 5th September 2018 and were signed on its behalf by:

A Powell - Director

1.	STATUTORY INFORMATION

Ashley 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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1997, is being amortised evenly over its estimated useful life of twenty years.

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.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% on cost

No provision for depreciation is made in respect of freehold land. It is the policy of the company to

maintain freehold property in a continual state of sound repair, the cost of the repair being written off

to the profit and Loss Account as incurred. The Directors' are of the opinion that, as a result of this

policy,the life of the property is so substantial and the residual value so high that any charge for

depreciation would not be significant. If at Balance Sheet date the Directors' consider that the book

value of fixed assets is not recoverable, then a depreciation charge is made to ensure that fixed asset

values in the Accounts do not exceed recoverable values.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2016 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2017

and 31st December 2017

10,000

AMORTISATION

At 1st January 2017

and 31st December 2017

10,000

NET BOOK VALUE

At 31st December 2017

-

At 31st December 2016

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2017

1,410,086

Additions

270,809

Disposals

(80,440

)

At 31st December 2017

1,600,455

DEPRECIATION

At 1st January 2017

614,374

Charge for year

143,224

Eliminated on disposal

(48,000

)

At 31st December 2017

709,598

NET BOOK VALUE

At 31st December 2017

890,857

At 31st December 2016

795,712

The net book value of tangible fixed assets includes £588,636 (2016 £511,953) in respect of assets

held under finance lease and hire purchase contract.

Depreciation provided on those assets in the year amounted to £134,317 (2016 £112,494).

6.	INVESTMENT PROPERTY

The investment property was acquired on 18 March 2004. It is therefore the opinion of the directors of

the company that the cost represents fair market value at the the balance sheet date.

7.	OTHER FINANCIAL COMMITMENTS

The Company's bankers hold a first legal charge on the Company's property at Station Road,

Renishaw in order to secure bank borrowing.