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Registration number: 10636501

Luxury Adventures Ltd

Annual Report and Unaudited Financial Statements

for the Period from 23 February 2017 to 31 March 2018

 

Luxury Adventures Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Luxury Adventures Ltd

(Registration number: 10636501)
Balance Sheet as at 31 March 2018

Note

2018
£

Fixed assets

 

Investments

4

1,620,470

Current assets

 

Cash at bank and in hand

 

12,712

Creditors: Amounts falling due within one year

5

(341,983)

Net current liabilities

 

(329,271)

Total assets less current liabilities

 

1,291,199

Creditors: Amounts falling due after more than one year

5

(1,000,000)

Net assets

 

291,199

Capital and reserves

 

Called up share capital

2

Profit and loss account

291,197

Total equity

 

291,199

For the financial period ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 1 November 2018 and signed on its behalf by:
 

.........................................

Mr PR Gridley
Director

 

Luxury Adventures Ltd

Notes to the Financial Statements for the Period from 23 February 2017 to 31 March 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Flat 24 Warwick Place
8 Wray Common Road
Reigate
Surrey
RH2 0RW
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The financial statements contain information about Luxury Adventures Ltd as an individual company and do not contain consolidated information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Luxury Adventures Ltd

Notes to the Financial Statements for the Period from 23 February 2017 to 31 March 2018

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Investments

2018
£

Investments in subsidiaries

1,620,470

 

Luxury Adventures Ltd

Notes to the Financial Statements for the Period from 23 February 2017 to 31 March 2018

Subsidiaries

£

Cost or valuation

Additions

1,620,470

Provision

Carrying amount

At 31 March 2018

1,620,470

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2018

Subsidiary undertakings

The Train Chartering Company Ltd

Benwell House
Preston
Wiltshire
SN14 5DX

Ordinary shares

100%

 

England

     

The principal activity of The Train Chartering Company Ltd is providers of charter trains and of escorted group travel on scheduled rail services and related activities for special events and corporate hospitality.

The profit for the financial period of The Train Chartering Company Ltd was £274,683 and the aggregate amount of capital and reserves at the end of the period was £79,896.

 

Luxury Adventures Ltd

Notes to the Financial Statements for the Period from 23 February 2017 to 31 March 2018

5

Creditors

Creditors: amounts falling due within one year

2018
£

Due within one year

Loans and borrowings

334,385

Other creditors

7,598

341,983

Creditors: amounts falling due after more than one year

Note

2018
£

Due after one year

 

Loans and borrowings

6

1,000,000

6

Loans and borrowings

2018
£

Non-current loans and borrowings

Other borrowings

1,000,000

2018
£

Current loans and borrowings

Other borrowings

334,385