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Registration number: 04532301

Leszan Travel (Wilts.) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2021

 

Leszan Travel (Wilts.) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Leszan Travel (Wilts.) Ltd

Company Information

Directors

Ms K A Damiral

Mr P Simpson

Company secretary

Ms K A Damiral

Registered office

Care Of Duncan Hire Ltd
Unit A West End Road
Swindon
Wiltshire
SN3 4PG

Accountants

Regulatory Accounting Ltd
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

Leszan Travel (Wilts.) Ltd

(Registration number: 04532301)
Balance Sheet as at 30 November 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

5

538,221

557,799

Current assets

 

Debtors

6

386,249

422,220

Cash at bank and in hand

 

13,655

34,220

 

399,904

456,440

Creditors: Amounts falling due within one year

7

(88,503)

(78,264)

Net current assets

 

311,401

378,176

Total assets less current liabilities

 

849,622

935,975

Creditors: Amounts falling due after more than one year

7

(299,813)

(378,727)

Provisions for liabilities

(123)

(3,842)

Net assets

 

549,686

553,406

Capital and reserves

 

Called up share capital

8

10,000

10,000

Profit and loss account

539,686

543,406

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:

The members have not required the company to obtain an audit of its accounts for the year 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.

Approved and authorised by the Board on 18 August 2022 and signed on its behalf by:
 

 

Leszan Travel (Wilts.) Ltd

(Registration number: 04532301)
Balance Sheet as at 30 November 2021

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

Mr P Simpson
Director

 

Leszan Travel (Wilts.) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

1

General information

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

The address of its registered office is:
Care Of Duncan Hire Ltd
Unit A West End Road
Swindon
Wiltshire
SN3 4PG
England

The presentation currency of the financial statements is the Pound Sterling (£).

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2020

4,000

4,000

At 30 November 2021

4,000

4,000

Amortisation

At 1 December 2020

4,000

4,000

At 30 November 2021

4,000

4,000

Carrying amount

At 30 November 2021

-

-

 

Leszan Travel (Wilts.) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Other tangible assets
 £

Total
£

Cost or valuation

At 1 December 2020

537,575

5,835

98,364

283

642,057

Disposals

-

-

(98,364)

-

(98,364)

At 30 November 2021

537,575

5,835

-

283

543,693

Depreciation

At 1 December 2020

-

4,989

79,069

200

84,258

Charge for the year

-

212

-

71

283

Eliminated on disposal

-

-

(79,069)

-

(79,069)

At 30 November 2021

-

5,201

-

271

5,472

Carrying amount

At 30 November 2021

537,575

634

-

12

538,221

At 30 November 2020

537,575

846

19,295

83

557,799

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

6

Debtors

2021
£

2020
£

Other debtors

386,249

422,220

386,249

422,220

 

Leszan Travel (Wilts.) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

7

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Bank loans and overdrafts

9

76,720

66,701

Other creditors

 

11,783

11,563

 

88,503

78,264

Due after one year

 

Loans and borrowings

9

299,813

378,727

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

9

299,813

378,727

8

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

10,000

10,000

10,000

10,000

         
 

Leszan Travel (Wilts.) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

9

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

221,668

232,621

Other borrowings

78,145

146,106

299,813

378,727

2021
£

2020
£

Current loans and borrowings

Bank borrowings

10,953

10,505

Other borrowings

65,767

56,196

76,720

66,701

 

Leszan Travel (Wilts.) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

10

Related party transactions

Summary of transactions with other related parties

Duncan Hire Limited
 Common ownership
 
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).