Expat Explore Transport Limited Filleted accounts for Companies House (small and micro)

EXPAT EXPLORE TRANSPORT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10172262

Expat Explore Transport Limited

Filleted Unaudited Financial Statements

31 December 2020

Expat Explore Transport Limited

Financial Statements

Year ended 31 December 2020

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Expat Explore Transport Limited

Statement of Financial Position

31 December 2020

	2020		2019
Note	£	£	£

Current assets

Debtors	5	165,312	2,013,948
Cash at bank and in hand		375,676	1,087,756
		---------	------------
		540,988	3,101,704

Creditors: amounts falling due within one year	6	183,121		2,681,071
		---------		------------
Net current assets			357,867	420,633
			---------	---------
Total assets less current liabilities			357,867	420,633
			---------	---------
Net assets			357,867	420,633
			---------	---------

Capital and reserves

Called up share capital	30,000	30,000
Profit and loss account	327,867	390,633
	---------	---------
Shareholders funds	357,867	420,633
	---------	---------

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 2020 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 28 May 2021 , 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 2020

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 (2019: 2).

5. Debtors

	2020	2019
	£	£
Trade debtors	150,589	1,580,096
Other debtors	14,723	433,852
	---------	------------
	165,312	2,013,948
	---------	------------

6. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	11,846	2,644,635
Corporation tax	–	19,965
Other creditors	171,275	16,471
	---------	------------
	183,121	2,681,071
	---------	------------

7. Related party transactions

During the period the company received turnover of £101,672 in respect of services rendered to a company associated by common control (2019: £4,791,115). During the period the company paid £nil in respect of services provided by a company associated by common control (2019: £1,570,000). At the period end the company owed £18,660 to a company associated by common control (2019: £1,022,585).