VERY_CHEAP_HOLIDAYS_LIMIT - Accounts

VCH TRAVEL LTD - Company Information

Print Friendly Version

Company Registration No. 07152438 (England and Wales)

VERY CHEAP HOLIDAYS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2015

VERY CHEAP HOLIDAYS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

VERY CHEAP HOLIDAYS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

93,746

71,381

Tangible assets

19,408

15,028

113,154

86,409

Current assets

Debtors

451,759

274,728

Cash at bank and in hand

214

451,793

274,942

Creditors: amounts falling due within one year

(403,425)

(287,959)

Net current assets/(liabilities)

48,368

(13,017)

Total assets less current liabilities

161,522

73,392

Provisions for liabilities

(21,217)

(15,557)

140,305

57,835

Capital and reserves

Called up share capital

100

Share premium account

24,900

Profit and loss account

115,305

32,835

Shareholders' funds

140,305

57,835

VERY CHEAP HOLIDAYS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 APRIL 2015

- 2 -

For the financial year ended 30 April 2015 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 18 November 2015

Mr M P Jones

Director

Company Registration No. 07152438

VERY CHEAP HOLIDAYS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents commission receivable for goods and services at the date when the sale was made.

1.3

Website

Website development costs are being amortised evenly over their estimated useful economic life.

1.4

Research and development

Website development costs are being amortised evenly over their estimated economic useful life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% reducing balance

Fixtures, fittings & equipment

25% reducing balance

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 May 2014

107,009

45,601

152,610

Additions

41,884

13,187

55,071

At 30 April 2015

148,893

58,788

207,681

Depreciation

At 1 May 2014

35,628

30,573

66,201

Charge for the year

19,519

8,807

28,326

At 30 April 2015

55,147

39,380

94,527

Net book value

At 30 April 2015

93,746

19,408

113,154

At 30 April 2014

71,381

15,028

86,409

VERY CHEAP HOLIDAYS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2015

- 4 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £13,803 (2014 - £21,010).

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100

Related party relationships and transactions

Mr N Jackson,a director, had an interest free loan from the company during the year. The loan was £93,237 (2014: £76,396) at the end of the year and is repayable on demand.

Mr M P Jones, a director, also had an interest free loan from the company during the year. The loan was £113,043 (2014: £40,994) at the year end and is repayable on demand.