Centurion Travel Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02396416 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

FOR

CENTURION TRAVEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Spiller

SECRETARY:

S Spiller

REGISTERED OFFICE:

124 High Street

Midsomer Norton

Bath

Avon

BA3 2DA

REGISTERED NUMBER:

02396416 (England and Wales)

ACCOUNTANTS:

Pethericks & Gillard Limited

Chartered Accountants

124 High Street

Midsomer Norton

Bath

BA3 2DA

FIXED ASSETS

Tangible assets

4

1,138,486

809,320

CURRENT ASSETS

Stocks

33,000

31,150

Debtors

5

192,643

167,954

Cash at bank and in hand

13,868

12,035

239,511

211,139

CREDITORS

Amounts falling due within one year

6

515,313

445,420

NET CURRENT LIABILITIES

(275,802

)

(234,281

)

TOTAL ASSETS LESS CURRENT LIABILITIES

862,684

575,039

CREDITORS

Amounts falling due after more than one year

7

570,540

359,499

NET ASSETS

292,144

215,540

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

291,144

214,540

SHAREHOLDERS' FUNDS

292,144

215,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 2 March 2018 and were signed by:

M J Spiller - Director

1.	STATUTORY INFORMATION

Centurion Travel Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Freehold property

-

5% on cost

Improvements to property

-

10% on cost

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 December 2016

126,411

288,830

302,056

Additions

-

85,777

10,976

Disposals

-

-

(5,995

)

At 30 November 2017

126,411

374,607

307,037

DEPRECIATION

At 1 December 2016

41,083

156,863

174,159

Charge for year

6,321

32,870

13,644

Eliminated on disposal

-

-

(3,558

)

At 30 November 2017

47,404

189,733

184,245

NET BOOK VALUE

At 30 November 2017

79,007

184,874

122,792

At 30 November 2016

85,328

131,967

127,897

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 December 2016

64,046

2,199,915

46,914

3,028,172

Additions

3,109

471,540

3,597

574,999

Disposals

-

(185,000

)

-

(190,995

)

At 30 November 2017

67,155

2,486,455

50,511

3,412,176

DEPRECIATION

At 1 December 2016

27,774

1,786,164

32,809

2,218,852

Charge for year

3,938

142,788

4,426

203,987

Eliminated on disposal

-

(145,591

)

-

(149,149

)

At 30 November 2017

31,712

1,783,361

37,235

2,273,690

NET BOOK VALUE

At 30 November 2017

35,443

703,094

13,276

1,138,486

At 30 November 2016

36,272

413,751

14,105

809,320

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 December 2016

33,919

1,399,926

1,433,845

Additions

-

457,500

457,500

Disposals

-

(165,000

)

(165,000

)

Transfer to ownership

(10,783

)

(90,000

)

(100,783

)

At 30 November 2017

23,136

1,602,426

1,625,562

DEPRECIATION

At 1 December 2016

5,807

1,030,682

1,036,489

Charge for year

2,811

123,346

126,157

Eliminated on disposal

-

(126,660

)

(126,660

)

Transfer to ownership

(3,708

)

(61,523

)

(65,231

)

At 30 November 2017

4,910

965,845

970,755

NET BOOK VALUE

At 30 November 2017

18,226

636,581

654,807

At 30 November 2016

28,112

369,244

397,356

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

116,260

83,280

Other debtors

18,845

26,983

Prepayments

57,538

57,691

192,643

167,954

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

49,963

17,434

Hire purchase contracts

147,671

142,084

Trade creditors

82,450

74,147

Social security and other taxes

20,245

15,265

Other creditors

36,992

21,070

Directors' current accounts

166,872

158,772

Accrued expenses

11,120

16,648

515,313

445,420

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

7,635

7,379

Bank loans - 2-5 years

24,545

23,722

Bank loans more 5 yr by instal

41,844

50,239

Hire purchase contracts

496,516

278,159

570,540

359,499

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

41,844

50,239

Hire purchase

93,134

15,154

134,978

65,393

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

42,586

10,305

Bank loans

81,401

88,469

123,987

98,774

The bank overdraft is secured by a fixed and floating charge over the company's assets.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2017 and

30 November 2016:

2017

2016

£

£

M J Spiller

Balance outstanding at start of year

(158,772

)

(48,148

)

Amounts advanced

3,150

32,507

Amounts repaid

(11,250

)

(143,131

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(166,872

)

(158,772

)

10.	RELATED PARTY DISCLOSURES