Hornsby Travel Services Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 01490232 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2013

for

Hornsby Travel Services Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R Hornsby

N J Hornsby

SECRETARY:

N J Hornsby

REGISTERED OFFICE:

51 Ashby High Street

Scunthorpe

North Lincolnshire

DN16 2NB

REGISTERED NUMBER:

01490232 (England and Wales)

FIXED ASSETS

Tangible assets

2

1,064,772

1,086,411

CURRENT ASSETS

Stocks

15,664

17,319

Debtors

575,382

463,051

Investments

388,000

-

Cash at bank and in hand

411,921

742,173

1,390,967

1,222,543

CREDITORS

Amounts falling due within one year

232,577

220,412

NET CURRENT ASSETS

1,158,390

1,002,131

TOTAL ASSETS LESS CURRENT LIABILITIES

2,223,162

2,088,542

PROVISIONS FOR LIABILITIES

132,137

111,860

NET ASSETS

2,091,025

1,976,682

CAPITAL AND RESERVES

Called up share capital

3

100,000

100,000

Share premium

17,728

17,728

Profit and loss account

1,973,297

1,858,954

SHAREHOLDERS' FUNDS

2,091,025

1,976,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 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 2 April 2014 and were signed on its behalf by:

R Hornsby - Director

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 April 2008).

Turnover

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

Depreciation - tangible fixed assets

Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives

using the following rates:

Short leasehold

- 10% per annum of cost

Garage equipment

- 10% per annum of cost and 7 years straight line over cost

Office equipment

- 10% per annum of cost, incorporating computer

equipment at 33% per annum of cost

Buses

- 10% per annum of cost

Cars

- 25% per annum of the net book value

Buildings

- 0%

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

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.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

2,840,794

Additions

202,035

Disposals

(85,450

)

At 31 December 2013

2,957,379

DEPRECIATION

At 1 January 2013

1,754,383

Charge for year

192,562

Eliminated on disposal

(54,338

)

At 31 December 2013

1,892,607

NET BOOK VALUE

At 31 December 2013

1,064,772

At 31 December 2012

1,086,411

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

100,000

Ordinary

£1

100,000

100,000

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A personal guarantee has been given by R Hornsby, Managing Director, to the National Westminster Bank plc.,

by way of recompense for their guarantee to The Bonded Coach Holiday Group. This takes the form of title

deeds to properties owned by his family.

5.	RELATED PARTY DISCLOSURES

During the year ended 31 December 2013 the company paid rent of £16,000 (2012: £16,000) in respect of

property which it occupies and which is owned by its Directors, R Hornsby and N J Hornsby.

At the 31 December 2013 a credit balance was due to director R Hornsby of £31,196 (2012: £31,196).

No dividends were paid in the year ended 31 December 2013 (2012: £Nil).

At 31 December 2013 a balance of £121,529 (2012: £124,538) was due from Hornsby Storage Limited. Interest

has been accrued in the accounts of £1,245 (2012: £1,233).

These two companies are connected as N J Hornsby holds 25% of the share capital in Hornsby Travel Services

Limited and 50% of the share capital in Hornsby Storage Limited. He is also a director of both.

At 31 December 2013 a debit balance of £119,697 (2012: £60,231) was due to the company from N J Hornsby

and a debit balance of £60,231 was due to the company from R J Hornsby (2012: £60,231)..