Key Reservations (Hotels) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC132950 (Scotland)

Abbreviated Accounts

for the Year Ended 31 December 2015

for

Key Reservations (Hotels) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr C W Perkins

Mr I C Nisbet

SECRETARY:

Mr C W Perkins

REGISTERED OFFICE:

Victoria Chambers

142 West Nile Street

Glasgow

G1 2RQ

REGISTERED NUMBER:

SC132950 (Scotland)

ACCOUNTANTS:

Armstrongs

Chartered Accountants

Victoria Chambers

142 West Nile St.

Glasgow

G1 2RQ

BANKERS:

The Royal Bank of Scotland plc

Glasgow Service Centre

Service & Operations

5th Floor, Tay House

300 Bath Street

Glasgow

G2 4RS

FIXED ASSETS

Tangible assets

2

25,540

17,091

CURRENT ASSETS

Debtors

414,358

356,662

Cash at bank

17,134

15,381

431,492

372,043

CREDITORS

Amounts falling due within one year

434,599

378,357

NET CURRENT LIABILITIES

(3,107

)

(6,314

)

TOTAL ASSETS LESS CURRENT LIABILITIES

22,433

10,777

CREDITORS

Amounts falling due after more than one year

14,347

-

NET ASSETS

8,086

10,777

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

7,986

10,677

SHAREHOLDERS' FUNDS

8,086

10,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 September 2016 and were signed on its behalf by:

Mr C W Perkins - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents the amount derived from the provision of goods and services falling within the company's

activities after deduction of trade discounts and value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% on reducing balance

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods

different from periods in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates

that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

78,381

Additions

26,319

Disposals

(16,902

)

At 31 December 2015

87,798

DEPRECIATION

At 1 January 2015

61,290

Charge for year

10,740

Eliminated on disposal

(9,772

)

At 31 December 2015

62,258

NET BOOK VALUE

At 31 December 2015

25,540

At 31 December 2014

17,091

3.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

£

100

Ordinary

£1

100

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The director, Mr Craig Perkins, has advanced loan funds to the company on an interest free basis and without

formal repayment terms. The amount owed at 31 December 2015 is £934 (2014 £3,189)

5.	RELATED PARTY DISCLOSURES