REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021 |
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WITNEY TRAVEL LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021 |
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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 2021 |
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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 2021 |
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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 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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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 2021 |
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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
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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 2021 |
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1. | STATUTORY INFORMATION |
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Witney Travel Limited is a
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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 2021 |
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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 2020 |
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Additions |
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At 30 November 2021 |
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DEPRECIATION |
At 1 December 2020 |
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Charge for year |
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At 30 November 2021 |
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NET BOOK VALUE |
At 30 November 2021 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 December 2020 |
and 30 November 2021 |
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NET BOOK VALUE |
At 30 November 2021 |
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At 30 November 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Taxation and social security |
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Other creditors |
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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 2021 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
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The company had a bank loan secured against its freehold property. This loan was discharged on the sale of this property in the year. |