2 J's Travel Limited - Period Ending 2019-03-31

Registration number: 05523510

2 J's Travel Limited

Annual Report and Unaudited Financial Statements (Filleted)

for the Year Ended 31 March 2019

Burton Sweet
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

2 J's Travel Limited

Contents

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

2 J's Travel Limited

Company Information

Directors

J Wilson J Rajkovic

Company secretary

J Wilson

Registered office

Coronation House The Borough Wedmore Somerset BS28 4EG

Accountants

Burton Sweet Chartered Accountants and Business Advisers Cooper House Lower Charlton Estate Shepton Mallet Somerset BA4 5QE

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1

2 J's Travel Limited

(Registration number: 05523510)
Balance Sheet
31 March 2019

	Note	2019 £	2018 £
Fixed assets
Intangible assets	4	1,332	1,999
Tangible assets	5	4,698	5,127
		6,030	7,126
Current assets
Debtors	6	4,646	10,891
Cash at bank and in hand		45,877	36,788
		50,523	47,679
Creditors: Amounts falling due within one year	7	(20,060)	(40,631)
Net current assets		30,463	7,048
Total assets less current liabilities		36,493	14,174
Provisions for liabilities		(1,051)	(1,122)
Net assets		35,442	13,052
Capital and reserves
Called up share capital		2	2
Profit and loss account		35,440	13,050
Total equity		35,442	13,052

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

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2

2 J's Travel Limited

(Registration number: 05523510)
Balance Sheet
31 March 2019

For the financial year ending 31 March 2019 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.

Approved and authorised by the Board on 4 December 2019 and signed on its behalf by:
 

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

J Wilson
Company secretary and director

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

J Rajkovic
Director

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

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3

2 J's Travel Limited

Notes to the Financial Statements
Year Ended 31 March 2019

1	General information

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

The address of its registered office is:
Coronation House
The Borough
Wedmore
Somerset
BS28 4EG

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
and it is probable that future economic benefits will flow to the entity;

Tax

The tax expense for the period comprises current 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.

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4

2 J's Travel Limited

Notes to the Financial Statements
Year Ended 31 March 2019

The current corporation 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.

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
Equipment	15% per annum reducing balance

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life,

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	over 15 years

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 creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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5

2 J's Travel Limited

Notes to the Financial Statements
Year Ended 31 March 2019

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 (2018 - 2).

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2 J's Travel Limited

Notes to the Financial Statements
Year Ended 31 March 2019

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2018	10,000	10,000
At 31 March 2019	10,000	10,000
Amortisation
At 1 April 2018	8,001	8,001
Amortisation charge	667	667
At 31 March 2019	8,668	8,668
Carrying amount
At 31 March 2019	1,332	1,332
At 31 March 2018	1,999	1,999

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2018	18,473	18,473
Additions	399	399
At 31 March 2019	18,872	18,872
Depreciation
At 1 April 2018	13,346	13,346
Charge for the year	828	828
At 31 March 2019	14,174	14,174
Carrying amount
At 31 March 2019	4,698	4,698
At 31 March 2018	5,127	5,127

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7

2 J's Travel Limited

Notes to the Financial Statements
Year Ended 31 March 2019

6

Debtors

	2019 £	2018 £
Trade debtors	4,646	10,891
	4,646	10,891

7

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018 £
Due within one year
Taxation and social security		17,224	18,287
Other creditors		2,836	22,344
		20,060	40,631

8

Reserves

9	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £32,500 (2018 - £41,400).

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8