Backpackers Limited - Accounts to registrar (filleted) - small 18.1

Backpackers Limited - Accounts to registrar (filleted) - small 18.1

BACKPACKERS LIMITED - Company Information

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REGISTERED NUMBER: SC178448 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

BACKPACKERS LIMITED
BACKPACKERS LIMITED (REGISTERED NUMBER: SC178448)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BACKPACKERS LIMITED

COMPANY INFORMATION
for the year ended 30 September 2017







DIRECTORS: Mr P Hunter
Mr C Hunter





REGISTERED OFFICE: 65 Cockburn Street
Edinburgh
EH1 1BU





REGISTERED NUMBER: SC178448 (Scotland)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP
Page 1
BACKPACKERS LIMITED (REGISTERED NUMBER: SC178448)

BALANCE SHEET
30 September 2017

30.9.17 30.9.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 121,661 87,832

CURRENT ASSETS
Stocks 4,659 3,616
Debtors 5 70,896 57,909
Cash at bank and in hand 524,389 213,342
599,944 274,867
CREDITORS
Amounts falling due within one year 6 324,582 233,657
NET CURRENT ASSETS 275,362 41,210
TOTAL ASSETS LESS CURRENT
LIABILITIES
397,023
129,042

CREDITORS
Amounts falling due after more than one
year
7
(125,288
)
(147,123
)

PROVISIONS FOR LIABILITIES (15,090 ) (10,618 )
NET ASSETS/(LIABILITIES) 256,645 (28,699 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 256,545 (28,799 )
SHAREHOLDERS' FUNDS 256,645 (28,699 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 notes form part of these financial statements

Page 2 continued...
BACKPACKERS LIMITED (REGISTERED NUMBER: SC178448)

BALANCE SHEET - continued
30 September 2017


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 Board of Directors on 22 May 2018 and were signed on its behalf by:





Mr P Hunter - Director


The notes form part of these financial statements

Page 3
BACKPACKERS LIMITED (REGISTERED NUMBER: SC178448)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2017

1. STATUTORY INFORMATION

Backpackers Limited is a private company, limited by shares , registered in Scotland. 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 represents income receivable from the provision of hostel services and income received from the
operation of a bar and restaurant, net of 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.
Improvements to property - period of the property lease (15 years)
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% 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
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.

Page 4 continued...
BACKPACKERS LIMITED (REGISTERED NUMBER: SC178448)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2017

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2016 729,253 238,292 334,745
Additions - 2,495 46,856
At 30 September 2017 729,253 240,787 381,601
DEPRECIATION
At 1 October 2016 713,806 205,604 300,260
Charge for year 12,103 7,036 16,268
At 30 September 2017 725,909 212,640 316,528
NET BOOK VALUE
At 30 September 2017 3,344 28,147 65,073
At 30 September 2016 15,447 32,688 34,485

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2016 13,750 5,981 1,322,021
Additions 25,962 1,973 77,286
At 30 September 2017 39,712 7,954 1,399,307
DEPRECIATION
At 1 October 2016 11,303 3,216 1,234,189
Charge for year 7,102 948 43,457
At 30 September 2017 18,405 4,164 1,277,646
NET BOOK VALUE
At 30 September 2017 21,307 3,790 121,661
At 30 September 2016 2,447 2,765 87,832

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.17 30.9.16
£    £   
Trade debtors 24,176 13,054
Other debtors 43,124 41,124
Directors' current accounts 2,414 2,414
Prepayments 1,182 1,317
70,896 57,909

Page 5 continued...
BACKPACKERS LIMITED (REGISTERED NUMBER: SC178448)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2017

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.17 30.9.16
£    £   
Bank loans and overdrafts 20,525 20,525
Hire purchase contracts 6,057 6,056
Trade creditors 44,959 39,061
Tax 77,358 28,180
Social security and other taxes 12,840 11,033
VAT 123,570 101,764
Other creditors 6,633 2,857
Directors' current accounts 28 28
Accrued expenses 32,612 24,153
324,582 233,657

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.17 30.9.16
£    £   
Bank loans - 1-2 years 20,525 20,525
Bank loans - 2-5 years 102,745 118,523
Hire purchase contracts 2,018 8,075
125,288 147,123

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.17 30.9.16
£    £   
Bank loans 143,795 159,573
Hire purchase contracts 8,075 14,131
151,870 173,704

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2017 and
30 September 2016:

30.9.17 30.9.16
£    £   
Mr P Hunter
Balance outstanding at start of year 2,413 2,413
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,413 2,413

Page 6 continued...
BACKPACKERS LIMITED (REGISTERED NUMBER: SC178448)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2017

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr C Hunter
Balance outstanding at start of year (28 ) (28 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (28 ) (28 )

The loans are interest free and have no terms for repayment.

10. ULTIMATE CONTROLLING PARTY

During the year the company was under the control of the directors. No individual director has overall control.

Page 7