NGAMILAND EXPLORATIONS LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09704075 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

FOR

NGAMILAND EXPLORATIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Gibson

REGISTERED OFFICE:

1 High Street

Thatcham

Berks

RG19 3JG

REGISTERED NUMBER:

09704075 (England and Wales)

ACCOUNTANTS:

C B Heslop & Company Limited

Chartered Accountants

1 High Street

Thatcham

Berks

RG19 3JG

FIXED ASSETS

Tangible assets

4

1,613

1,259

Investments

5

1

-

1,614

1,259

CURRENT ASSETS

Debtors

6

161,461

59,881

Cash at bank

7

88,430

117,077

249,891

176,958

CREDITORS

Amounts falling due within one year

8

219,640

132,947

NET CURRENT ASSETS

30,251

44,011

TOTAL ASSETS LESS CURRENT LIABILITIES

31,865

45,270

PROVISIONS FOR LIABILITIES

306

240

NET ASSETS

31,559

45,030

CAPITAL AND RESERVES

Called up share capital

9

30,000

30,000

Retained earnings

10

1,559

15,030

SHAREHOLDERS' FUNDS

31,559

45,030

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 14 February 2019 and were signed by:

J Gibson - Director

1.	STATUTORY INFORMATION

NGAMILAND EXPLORATIONS LIMITED is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net sales of tours excluding value added tax.

The turnover is wholly earned in Africa.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Office equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

equipment

Totals

£

£

£

COST

At 1 August 2017

-

2,566

2,566

Additions

139

1,628

1,767

At 31 July 2018

139

4,194

4,333

DEPRECIATION

At 1 August 2017

-

1,307

1,307

Charge for year

28

1,385

1,413

At 31 July 2018

28

2,692

2,720

NET BOOK VALUE

At 31 July 2018

111

1,502

1,613

At 31 July 2017

-

1,259

1,259

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

1

At 31 July 2018

1

NET BOOK VALUE

At 31 July 2018

1

During the year a subsidiary, African Safari Tours Ltd, was set up. The company is dormant.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Trade debtors

124,132

59,482

Amounts owed by group undertakings

250

-

Other debtors

37,079

399

161,461

59,881

7.	CASH AT BANK

The balance for cash at bank includes £30,000 (2017: £40,000) ATOL Bond.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Trade creditors

115,447

77,233

Taxation and social security

9,072

6,512

Other creditors

95,121

49,202

219,640

132,947

The balance for other creditors includes £91,456 of deferred income (2017: £45,511).

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.18

31.7.17

value:

£

£

30,000

ordinary

1

30,000

30,000

10.

RESERVES

Retained

earnings

£

At 1 August 2017

15,030

Deficit for the year

(10,471

)

Dividends

(3,000

)

At 31 July 2018

1,559

11.	CONTINGENT LIABILITIES

The Company has made a cash deposit of £30,000 with its bankers as security for performance bonds guaranteed

on behalf of the Company.

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2018 and

31 July 2017:

31.7.18

31.7.17

£

£

J Gibson

Balance outstanding at start of year

-

-

Amounts advanced

25,650

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

25,650

-

13.	ULTIMATE CONTROLLING PARTY

Mr J Gibson, the director, controls the company by virtue of a controlling interest of 100% of the issued ordinary

share capital.