FINANCIAL PERIOD DATA REFRESH REQUIRED
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Registration number:
Leszan Travel (Wilts.) Ltd
for the Year Ended 30 November 2021
Leszan Travel (Wilts.) Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Leszan Travel (Wilts.) Ltd
Company Information
Directors |
Ms K A Damiral Mr P Simpson |
Company secretary |
Ms K A Damiral |
Registered office |
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Accountants |
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Leszan Travel (Wilts.) Ltd
(Registration number: 04532301)
Balance Sheet as at 30 November 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
10,000 |
10,000 |
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Profit and loss account |
539,686 |
543,406 |
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Shareholders' funds |
549,686 |
553,406 |
For the financial year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
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.
Approved and authorised by the
Leszan Travel (Wilts.) Ltd
(Registration number: 04532301)
Balance Sheet as at 30 November 2021
.........................................
Director
Leszan Travel (Wilts.) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
The presentation currency of the financial statements is the Pound Sterling (£).
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
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 1A 'The Financial Reporting Standard applicable to Small Entities'.
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.
Going concern
The directors have considered the risks and issues concerning the company and it's activities and no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern have beenidentified.
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.
The company recognises revenue at the point at which it has fulfilled its contractual obligations to the customer.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Leszan Travel (Wilts.) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet 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
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% on cost |
Motor vehicles |
20% on reducing balance |
Office Equipment |
25% on reducing balance |
Fixtures & Fittings |
25% on cost |
Goodwill
Goodwill representing the amount paid in connection with the acquisition of a business in 2008, was being amortised evenly over it estimated useful life of 5 years.
Goodwill has now been fully amortised.
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 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.
Leszan Travel (Wilts.) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
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.
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.
Operating Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 December 2020 |
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At 30 November 2021 |
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Amortisation |
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At 1 December 2020 |
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At 30 November 2021 |
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Carrying amount |
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At 30 November 2021 |
- |
- |
Leszan Travel (Wilts.) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
Tangible assets |
Land and buildings |
Fixtures and fittings |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 December 2020 |
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Disposals |
- |
- |
( |
- |
( |
At 30 November 2021 |
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- |
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Depreciation |
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At 1 December 2020 |
- |
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Charge for the year |
- |
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- |
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Eliminated on disposal |
- |
- |
( |
- |
( |
At 30 November 2021 |
- |
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- |
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Carrying amount |
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At 30 November 2021 |
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- |
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At 30 November 2020 |
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Included within the net book value of land and buildings above is £537,575 (2020 - £537,575) in respect of freehold land and buildings. There is a mortgage charge held against a land & buildings asset in favour of Lloyds Bank PLC, which is unsettled at year end.
Leszan Travel (Wilts.) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
Debtors |
2021 |
2020 |
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Other debtors |
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Leszan Travel (Wilts.) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
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Due within one year |
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Bank loans and overdrafts |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Creditors: amounts falling due after more than one year
Note |
2021 |
2020 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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10,000 |
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10,000 |
Leszan Travel (Wilts.) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
Loans and borrowings |
2021 |
2020 |
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Non-current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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2021 |
2020 |
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Current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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Leszan Travel (Wilts.) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
Related party transactions |
Summary of transactions with other related parties
During the period the companies met expenses on behalf of each other. As at the year-end the inter-company account showed a balance due from Duncan Hire Limited of £362,547 (2020: £395,019).