SUNDOWNERS TRAVEL CENTRE LIMITED - Period Ending 2018-11-30

Registration number: 2293514

SUNDOWNERS TRAVEL CENTRE LIMITED

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2018

Riaz Ahmad & Co Limited
Chartered Certified Accountants
Lord House
51 Lord Street
Manchester
Manchester
M3 1HE

SUNDOWNERS TRAVEL CENTRE LIMITED

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 8

SUNDOWNERS TRAVEL CENTRE LIMITED

Company Information

Directors

Ms Naila Zafar Mrs Leena Haider Ms Munawar Sultana

Company secretary

Ms Naila Zafar

Registered office

Cotton House 12-18 Queen Street Manchester M2 5HS

Accountants

Riaz Ahmad & Co Limited Chartered Certified Accountants Lord House 51 Lord Street Manchester Manchester M3 1HE

Page 1

SUNDOWNERS TRAVEL CENTRE LIMITED

(Registration number: 2293514)
Balance Sheet as at 30 November 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	265,000	265,524
Current assets
Debtors	5	812,150	828,261
Cash at bank and in hand		106,826	123,716
		918,976	951,977
Creditors: Amounts falling due within one year	6	(331,377)	(323,041)
Net current assets		587,599	628,936
Total assets less current liabilities		852,599	894,460
Provisions for liabilities		(418)	(418)
Net assets		852,181	894,042
Capital and reserves
Called up share capital	7	50,000	50,000
Revaluation reserve		67,574	67,574
Profit and loss account		734,607	776,468
Total equity		852,181	894,042

For the financial year ending 30 November 2018 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.

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.

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 2

SUNDOWNERS TRAVEL CENTRE LIMITED

(Registration number: 2293514)
Balance Sheet as at 30 November 2018

Approved and authorised by the Board on 28 May 2019 and signed on its behalf by:
 

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

Ms Naila Zafar
Company secretary and director

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 3

SUNDOWNERS TRAVEL CENTRE LIMITED

Notes to the Financial Statements for the Year Ended 30 November 2018

1	General information

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

The address of its registered office is:
Cotton House
12-18 Queen Street
Manchester
M2 5HS
England

These financial statements were authorised for issue by the Board on 28 May 2019.

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

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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.

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 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
Fixtures & Fittings	10% Straight Line

Page 4

SUNDOWNERS TRAVEL CENTRE LIMITED

Notes to the Financial Statements for the Year Ended 30 November 2018

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2017 - 2).

Page 5

SUNDOWNERS TRAVEL CENTRE LIMITED

Notes to the Financial Statements for the Year Ended 30 November 2018

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 December 2017	268,640	47,642	316,282
At 30 November 2018	268,640	47,642	316,282
Depreciation
At 1 December 2017	3,640	47,118	50,758
Charge for the year	-	524	524
At 30 November 2018	3,640	47,642	51,282
Carrying amount
At 30 November 2018	265,000	-	265,000
At 30 November 2017	265,000	524	265,524

Included within the net book value of land and buildings above is £265,000 (2017 - £265,000) in respect of freehold land and buildings.
 

5

Debtors

	Note	2018 £	2017 £
Trade debtors		6,000	6,000
Amounts owed by group undertakings and undertakings in which the company has a participating interest	9	742,746	742,746
Prepayments		43,185	44,185
Other debtors		20,219	35,330
		812,150	828,261

Page 6

SUNDOWNERS TRAVEL CENTRE LIMITED

Notes to the Financial Statements for the Year Ended 30 November 2018

6

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Trade creditors	10,520	10,520
Accruals and deferred income	960	960
Other creditors	319,897	311,561
	331,377	323,041

7	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary shares of £1 each of £1 each	50,000	50,000	50,000	50,000

8

Dividends

Interim dividends paid

		2018 £		2017 £
Interim dividend of £Nil (2017 - £0.40) per each Ordinary Shares		-		20,000

9	Related party transactions

Loans to related parties

2018	Associates £
At start of period	742,746

2017	Associates £
At start of period	742,746

Terms of loans to related parties

The company has provided a loan of £742,746 (2017 £742,746) to Skanza Limited. The loan is interest free and is not repayable within five years. Skanza Limited is a company in which Ms N Zafar is materially interested as a Director and Shareholder.
 

Loans from related parties

Page 7

SUNDOWNERS TRAVEL CENTRE LIMITED

Notes to the Financial Statements for the Year Ended 30 November 2018

2018	Associates £
At start of period	274,624

2017	Associates £
At start of period	325,739

Terms of loans from related parties

Included in other creditors is £274,624 (2017 £274,624) in respect of monies owed to Skanza Limited by the company.
 

Page 8