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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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AIRPORT DIRECT TRAVEL LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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FOR |
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AIRPORT DIRECT TRAVEL LIMITED |
AIRPORT DIRECT TRAVEL LIMITED (REGISTERED NUMBER: 05788943) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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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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AIRPORT DIRECT TRAVEL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
The Custom House |
The Strand |
Barnstaple |
Devon |
EX31 1EU |
AIRPORT DIRECT TRAVEL LIMITED (REGISTERED NUMBER: 05788943) |
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BALANCE SHEET |
31 DECEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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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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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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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. |
AIRPORT DIRECT TRAVEL LIMITED (REGISTERED NUMBER: 05788943) |
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BALANCE SHEET - continued |
31 DECEMBER 2018 |
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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 and authorised for issue by the Board of Directors on
signed on its behalf by: |
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AIRPORT DIRECT TRAVEL LIMITED (REGISTERED NUMBER: 05788943) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Airport Direct Travel Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The company's address is: The Science Park Centre, 6 Babbage Way, Exeter Science Park, Exeter, Devon, EX5 |
2FN. |
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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 on the going concern basis. The directors have considered the financial |
position of the company for the twelve months from date of approving these financial statements and consider |
the going concern basis is appropriate. |
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The financial statements are prepared in sterling which is the functional currency of the company and rounded to |
the nearest pound. |
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Income recognition |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and |
the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or |
receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also |
be met before revenue is recognised: |
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Rendering of Services |
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Revenue from a contact to provide services is recognised in the period in which the services are provided in |
accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
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- the amount of revenue can be measured reliably; |
- it is probable that the Company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Office equipment | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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AIRPORT DIRECT TRAVEL LIMITED (REGISTERED NUMBER: 05788943) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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Research and development |
In the research phase of an internal project it is not possible to demonstrate that the project will generate future |
economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. |
Intangible assets are recognised from the development phase of a project if and only if certain specific criteria |
are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be |
reliably measure. The capitalised development costs are subsequently amortised on a straight line basis over the |
useful economic lives of 3 years. |
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If it is not possible to distinguish between the research phase and the development phase of an internal project, |
the expenditure is treated as if it were all incurred in the research phase only. |
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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 transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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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. |
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Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and |
investments in non-puttable ordinary shares. |
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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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AIRPORT DIRECT TRAVEL LIMITED (REGISTERED NUMBER: 05788943) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Software |
Development |
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COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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AMORTISATION |
At 1 January 2018 |
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Amortisation for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Office | and | Motor | Computer |
equipment | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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6. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 January 2018 |
and 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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AIRPORT DIRECT TRAVEL LIMITED (REGISTERED NUMBER: 05788943) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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6. | FIXED ASSET INVESTMENTS - continued |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: The Custom House, The Strand, Barnstaple, Devon, England, EX31 1EU |
Nature of business:
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Class of shares: | holding |
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2018 | 2017 |
£ | £ |
Aggregate capital and reserves |
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Registered office: Ashford House, Grenadier Road, Exeter, Devon, England, EX1 3LH |
Nature of business:
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Class of shares: | holding |
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2018 | 2017 |
£ | £ |
Aggregate capital and reserves |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Directors' current accounts |
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Tax |
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Prepayments and accrued income |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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Other creditors |
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Accruals and deferred income |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Other loans | - |
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AIRPORT DIRECT TRAVEL LIMITED (REGISTERED NUMBER: 05788943) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 |
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11. | RELATED PARTY DISCLOSURES |
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During the year a director who also holds participating interest in the company owed £3,608 (2017 - £nil) to the |
company. No interest has been charged on this loan. |