Registration number:
Vintage Road, Rail and Steam Ltd
for the
Year Ended 28 February 2018
Vintage Road, Rail and Steam Ltd
Contents
Company Information |
|
Accountants' Report |
|
Balance Sheet |
|
Notes to the Financial Statements |
Vintage Road, Rail and Steam Ltd
Company Information
Director |
J Jones-Pratt |
Registered office |
|
Accountants |
|
Page 1 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Vintage Road, Rail and Steam Ltd
for the Year Ended 28 February 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Vintage Road, Rail and Steam Ltd for the year ended 28 February 2018 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Vintage Road, Rail and Steam Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Vintage Road, Rail and Steam Ltd and state those matters that we have agreed to state to the Board of Directors of Vintage Road, Rail and Steam Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vintage Road, Rail and Steam Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Vintage Road, Rail and Steam Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Vintage Road, Rail and Steam Ltd. You consider that Vintage Road, Rail and Steam Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Vintage Road, Rail and Steam Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Chartered Accountants
Weston-super-Mare
Somerset
BS23 1NF
Page 2 |
Vintage Road, Rail and Steam Ltd
(Registration number: 09997458)
Balance Sheet as at 28 February 2018
Note |
2018 |
2017 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
- |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Other reserves |
|
|
|
Profit and loss account |
( |
( |
|
Total equity |
|
|
For the financial year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his 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.
Page 3 |
Vintage Road, Rail and Steam Ltd
(Registration number: 09997458)
Balance Sheet as at 28 February 2018
Approved and authorised by the
.........................................
Director
Page 4 |
Vintage Road, Rail and Steam Ltd
Notes to the Financial Statements for the Year Ended 28 February 2018
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
The principal place of business is:
Slimeridge Farm
Lynx Road
Uphill
Weston-super-Mare
Somerset
BS23 4XY
United Kingdom
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.
The presentational currency of the financial statements is Pound Sterling (£).
Page 5 |
Vintage Road, Rail and Steam Ltd
Notes to the Financial Statements for the Year Ended 28 February 2018
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Vehicles |
2% straight line/12.5% reducing balance |
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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Page 6 |
Vintage Road, Rail and Steam Ltd
Notes to the Financial Statements for the Year Ended 28 February 2018
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 7 |
Vintage Road, Rail and Steam Ltd
Notes to the Financial Statements for the Year Ended 28 February 2018
Tangible assets |
Vehicles |
Total |
|
Cost or valuation |
||
At 1 March 2017 |
|
|
Additions |
|
|
Disposals |
( |
( |
At 28 February 2018 |
|
|
Depreciation |
||
At 1 March 2017 |
|
|
Charge for the year |
|
|
Eliminated on disposal |
( |
( |
At 28 February 2018 |
|
|
Carrying amount |
||
At 28 February 2018 |
|
|
At 28 February 2017 |
|
|
Page 8 |
Vintage Road, Rail and Steam Ltd
Notes to the Financial Statements for the Year Ended 28 February 2018
Debtors |
2018 |
2017 |
|
Prepayments |
|
- |
Other debtors |
|
- |
|
- |
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
|
Due within one year |
|||
Trade creditors |
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
|
Accruals and deferred income |
|
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Page 9 |
Vintage Road, Rail and Steam Ltd
Notes to the Financial Statements for the Year Ended 28 February 2018
Related party transactions |
Loans from related parties
2018 |
Parent |
At start of period |
|
Advanced |
|
Repaid |
( |
Interest transactions |
( |
At end of period |
|
2017 |
Parent |
Advanced |
|
Repaid |
( |
Interest transactions |
( |
At end of period |
|
Terms of loans from related parties
The loan from the parent company, J J P Holdings (South West) Ltd, is interest free and has been discounted over a period of 5 years at an interest rate of 4.25%.
Parent and parent undertaking |
The company's immediate parent is
The ultimate controlling party is
Page 10 |