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COMPANY REGISTRATION NUMBER: 10172262
Expat Explore Transport Limited
Filleted Unaudited Financial Statements
31 December 2021
Expat Explore Transport Limited
Financial Statements
Year ended 31 December 2021
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Expat Explore Transport Limited
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
£
Current assets
Debtors
5
159,769
165,312
Cash at bank and in hand
66,078
375,676
---------
---------
225,847
540,988
Creditors: amounts falling due within one year
6
92,325
183,121
---------
---------
Net current assets
133,522
357,867
---------
---------
Total assets less current liabilities
133,522
357,867
---------
---------
Net assets
133,522
357,867
---------
---------
Capital and reserves
Called up share capital
30,000
30,000
Profit and loss account
103,522
327,867
---------
---------
Shareholders funds
133,522
357,867
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 June 2022 , and are signed on behalf of the board by:
J H Maritz
Director
Company registration number: 10172262
Expat Explore Transport Limited
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 9 Dock Offices, Surrey Quays Road, London, SE16 2XU, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 (2020: 2).
5. Debtors
2021
2020
£
£
Trade debtors
146,484
150,589
Other debtors
13,285
14,723
---------
---------
159,769
165,312
---------
---------
6. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
325
11,846
Other creditors
92,000
171,275
--------
---------
92,325
183,121
--------
---------
7. Related party transactions
During the period the company received turnover of £Nil in respect of services rendered to a company associated by common control (2020: £101,672). During the period the company provided credit of £2,358 in respect of services rendered to a company associated by common control (2020: £Nil). At the period end the company was owed £88,500 by a company associated by common control (2020: the company owed £18,660).