Registered Number 02637453

CANNON TRAVEL LIMITED

Abbreviated Accounts

30 November 2015

CANNON TRAVEL LIMITED Registered Number 02637453

Abbreviated Balance Sheet as at 30 November 2015

Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 - -
Tangible assets 3 22,588 25,604
22,588 25,604
Current assets
Debtors 34,547 26,061
Cash at bank and in hand 417,144 432,928
451,691 458,989
Creditors: amounts falling due within one year (357,122 ) (404,867 )
Net current assets (liabilities) 94,569 54,122
Total assets less current liabilities 117,157 79,726
Provisions for liabilities (1,800 ) (2,500 )
Total net assets (liabilities) 115,357 77,226
Capital and reserves
Called up share capital 4 30,000 30,000
Profit and loss account 85,357 47,226
Shareholders' funds 115,357 77,226

  • For the year ending 30 November 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 April 2016

And signed on their behalf by:
MR K A BROOKS, Director

CANNON TRAVEL LIMITED Registered Number 02637453

Notes to the Abbreviated Accounts for the period ended 30 November 2015

1 Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class:
Leasehold improvements - Depreciation method and rate straight line over the life of the lease
Fixtures and fittings - Depreciation method and rate 25% reducing balance
Motor vehicles - Depreciation method and rate 25% reducing balance

Intangible assets amortisation policy
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset Class:
Goodwill Amortisation method and rate 10 years

Other accounting policies
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

2 Intangible fixed assets
£
Cost
At 1 December 2014 80,750
Additions -
Disposals -
Revaluations -
Transfers -
At 30 November 2015 80,750
Amortisation
At 1 December 2014 80,750
Charge for the year -
On disposals -
At 30 November 2015 80,750
Net book values
At 30 November 2015 0
At 30 November 2014 0
3 Tangible fixed assets
£
Cost
At 1 December 2014 103,697
Additions 3,622
Disposals -
Revaluations -
Transfers -
At 30 November 2015 107,319
Depreciation
At 1 December 2014 78,093
Charge for the year 6,638
On disposals -
At 30 November 2015 84,731
Net book values
At 30 November 2015 22,588
At 30 November 2014 25,604
4 Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
30,000 Ordinary shares of £1 each 30,000 30,000