REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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WITNEY TRAVEL LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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FOR |
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WITNEY TRAVEL LIMITED |
WITNEY TRAVEL LIMITED (REGISTERED NUMBER: 02828408) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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WITNEY TRAVEL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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20 Harcourt Street |
London |
W1H 4HG |
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BANKERS: |
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Dominions House |
Eton Place |
64 High Street |
Burnham |
Buckinghamshire |
SL1 7JT |
WITNEY TRAVEL LIMITED (REGISTERED NUMBER: 02828408) |
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BALANCE SHEET |
30 NOVEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 11 |
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Capital redemption reserve |
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Other reserves |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
WITNEY TRAVEL LIMITED (REGISTERED NUMBER: 02828408) |
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BALANCE SHEET - continued |
30 NOVEMBER 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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WITNEY TRAVEL LIMITED (REGISTERED NUMBER: 02828408) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Witney Travel Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The accounts have been prepared under the historical cost convention. |
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Turnover |
Turnover represents the value of commissions earned in the year on travel sold. |
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Investment property |
The company's policy is to show investment properties at market value, and not to depreciate them. Any |
surpluses on revaluation are taken to revaluation reserve, and losses on revaluation are charged against |
revaluation reserve except to the extent that the reduction in value would exceed the revaluation reserve, when |
the excess is charged against profit. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Depreciation of fixed assets |
Depreciation has been provided on a reducing balance basis on Plant & Machinery to write off the excess of cost |
over the estimated residual value of the assets over their expected useful lives at annual rates of 25%. Freehold |
property in use for the company's activities is being written off on a straight line basis over the expected useful |
life of 50 years. The greater part of the company's freehold property is held as investment property and is not |
therefore depreciable. |
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Foreign currencies |
Assets and Liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. |
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WITNEY TRAVEL LIMITED (REGISTERED NUMBER: 02828408) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Going concern |
The financial statements have been prepared on the basis that the company will continue to trade as a going |
concern. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2018 |
and 30 November 2019 |
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DEPRECIATION |
At 1 December 2018 |
and 30 November 2019 |
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NET BOOK VALUE |
At 30 November 2019 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 December 2018 |
and 30 November 2019 |
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NET BOOK VALUE |
At 30 November 2019 |
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At 30 November 2018 |
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6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2018 |
and 30 November 2019 |
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NET BOOK VALUE |
At 30 November 2019 |
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At 30 November 2018 |
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Fair value at 30 November 2019 is represented by: |
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£ |
Valuation in 2015 | 670,867 |
WITNEY TRAVEL LIMITED (REGISTERED NUMBER: 02828408) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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6. | INVESTMENT PROPERTY - continued |
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If the investment property had not been revalued it would have been included at the following historical cost: |
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2019 | 2018 |
£ | £ |
Cost | 251,710 | 251,710 |
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The investment property was valued on an open market basis basis on 5 February 2008 by Stupples, Chartered Surveyors |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security | ( |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Yardjet Loan | 74,480 | 50,980 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank loans |
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The bank loan is secured by a mortgage on the company's freehold property. |
WITNEY TRAVEL LIMITED (REGISTERED NUMBER: 02828408) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 December 2018 |
and 30 November 2019 |
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