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SUNDOWNERS TRAVEL CENTRE LIMTED

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2017

Riaz Ahmad & Co Limited
Chartered Certified Accountants
Lord House
51 Lord Street
Manchester
M3 1HE

SUNDOWNERS TRAVEL CENTRE LIMTED

Contents

Company Information	1
Directors' Report	2
Accountants' Report	3
Profit and Loss Account	4
Statement of Comprehensive Income	5
Balance Sheet	6
Statement of Changes in Equity	7
Notes to the Financial Statements	8 to 13

SUNDOWNERS TRAVEL CENTRE LIMTED

Company Information

Directors

Ms Naila Zafar Mrs Leena Haider Ms Munawar Sultana

Company secretary

Ms Naila Zafar Ms Naila Zafar

Registered office

62 Bridge Street Manchester M3 3BW

Accountants

Riaz Ahmad & Co Limited Chartered Certified Accountants Lord House 51 Lord Street Manchester M3 1HE

Page 1

SUNDOWNERS TRAVEL CENTRE LIMTED

Directors' Report for the Year Ended 30 November 2017

The directors present their report and the financial statements for the year ended 30 November 2017.

Directors of the company

The directors who held office during the year were as follows:

Ms Naila Zafar - Company secretary and director

Mrs Leena Haider

Ms Munawar Sultana

Principal activity

The principal activity of the company is running a travel agency, selling airlin tickets.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 30 May 2018 and signed on its behalf by:

.........................................
Ms Naila Zafar
Company secretary and director

Page 2

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
SUNDOWNERS TRAVEL CENTRE LIMTED
for the Year Ended 30 November 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SUNDOWNERS TRAVEL CENTRE LIMTED for the year ended 30 November 2017 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of SUNDOWNERS TRAVEL CENTRE LIMTED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SUNDOWNERS TRAVEL CENTRE LIMTED and state those matters that we have agreed to state to the Board of Directors of SUNDOWNERS TRAVEL CENTRE LIMTED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SUNDOWNERS TRAVEL CENTRE LIMTED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SUNDOWNERS TRAVEL CENTRE LIMTED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of SUNDOWNERS TRAVEL CENTRE LIMTED. You consider that SUNDOWNERS TRAVEL CENTRE LIMTED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of SUNDOWNERS TRAVEL CENTRE LIMTED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Riaz Ahmad & Co Limited
Chartered Certified Accountants
Lord House
51 Lord Street
Manchester
M3 1HE

30 May 2018

Page 3

SUNDOWNERS TRAVEL CENTRE LIMTED

Profit and Loss Account for the Year Ended 30 November 2017

	Note	Total 30 November 2017 £	Total 30 November 2016 £
Turnover		34,848	288,349
Cost of sales		(26,816)	(196,684)
Gross profit		8,032	91,665
Administrative expenses		(72,908)	(100,921)
Operating loss		(64,876)	(9,256)
Other interest receivable and similar income		11	21
		11	21
Loss before tax	4	(64,865)	(9,235)
Loss for the financial year		(64,865)	(9,235)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

The notes on pages 8 to 13 form an integral part of these financial statements.

Page 4

SUNDOWNERS TRAVEL CENTRE LIMTED

Statement of Comprehensive Income for the Year Ended 30 November 2017

	Note	2017 £	2016 £
Loss for the year		(64,865)	(9,235)
Total comprehensive income for the year		(64,865)	(9,235)

The notes on pages 8 to 13 form an integral part of these financial statements.

Page 5

SUNDOWNERS TRAVEL CENTRE LIMTED

(Registration number: 2293514)
Balance Sheet as at 30 November 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	5	265,524	266,259
Current assets
Debtors	6	828,261	912,553
Cash at bank and in hand		123,716	129,520
		951,977	1,042,073
Creditors: Amounts falling due within one year	7	(323,041)	(329,007)
Net current assets		628,936	713,066
Total assets less current liabilities		894,460	979,325
Provisions for liabilities		(418)	(418)
Net assets		894,042	978,907
Capital and reserves
Called up share capital		50,000	50,000
Revaluation reserve		67,574	67,574
Profit and loss account		776,468	861,333
Total equity		894,042	978,907

For the financial year ending 30 November 2017 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 30 May 2018 and signed on its behalf by:
 

.........................................

Ms Naila Zafar

Company secretary and director

The notes on pages 8 to 13 form an integral part of these financial statements.

Page 6

SUNDOWNERS TRAVEL CENTRE LIMTED

Statement of Changes in Equity for the Year Ended 30 November 2017

	Share capital £	Revaluation reserve £	Profit and loss account £	Total £
At 1 December 2016	50,000	67,574	861,333	978,907
Loss for the year	-	-	(64,865)	(64,865)
Total comprehensive income	-	-	(64,865)	(64,865)
Dividends	-	-	(20,000)	(20,000)
At 30 November 2017	50,000	67,574	776,468	894,042

	Share capital £	Revaluation reserve £	Profit and loss account £	Total £
At 1 December 2015	50,000	67,574	882,568	1,000,142
Loss for the year	-	-	(9,235)	(9,235)
Total comprehensive income	-	-	(9,235)	(9,235)
Dividends	-	-	(12,000)	(12,000)
At 30 November 2016	50,000	67,574	861,333	978,907

The notes on pages 8 to 13 form an integral part of these financial statements.

Page 7

SUNDOWNERS TRAVEL CENTRE LIMTED

Notes to the Financial Statements for the Year Ended 30 November 2017

1	General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
62 Bridge Street
Manchester
M3 3BW

These financial statements were authorised for issue by the Board on 30 May 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	10% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 8

SUNDOWNERS TRAVEL CENTRE LIMTED

Notes to the Financial Statements for the Year Ended 30 November 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

Average number of employees

4	Loss before tax

Arrived at after charging/(crediting)

	2017 £	2016 £
Depreciation expense	735	735

Page 9

SUNDOWNERS TRAVEL CENTRE LIMTED

Notes to the Financial Statements for the Year Ended 30 November 2017

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 December 2016	268,640	47,642	316,282
At 30 November 2017	268,640	47,642	316,282
Depreciation
At 1 December 2016	3,640	46,383	50,023
Charge for the year	-	735	735
At 30 November 2017	3,640	47,118	50,758
Carrying amount
At 30 November 2017	265,000	524	265,524
At 30 November 2016	265,000	1,259	266,259

Included within the net book value of land and buildings above is £265,000 (2016 - £265,000) in respect of freehold land and buildings.
 

6

Debtors

	Note	2017 £	2016 £
Trade debtors		6,000	6,000
Amounts owed by group undertakings and undertakings in which the company has a participating interest		742,746	742,746
Other debtors		79,515	163,807
Total current trade and other debtors		828,261	912,553

7

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		10,520	1,870
Amounts owed to group undertakings and undertakings in which the company has a participating interest		36,937	437
Other creditors		275,584	326,700
		323,041	329,007

Page 10

SUNDOWNERS TRAVEL CENTRE LIMTED

Notes to the Financial Statements for the Year Ended 30 November 2017