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Financial highlights: Summary Financial Statement
Summary Group Income & Expenditure Account for the year ended 30 June 2013 Turnover
2013
2012
7,278,579
7,045,173
Insurance claims (2012 includes credit on reduction in Insurance loss provision)
(872,867)
550,283
Gross Surplus
6,405,712
7,595,456
(7,195,836)
( 7,151,764)
(790,124)
443,692
Administration Expenses Operating Surplus/(Deficit) before interest and tax Interest & property investment income
916,769
928,184
Operating Surplus before tax
126,645
1,371,876
Taxation
(72,707)
( 352,999)
53,938
1,018,877
Surplus for the year after taxation
Summary Group Statement of Total Recognised Gains & Losses
2013
2012
53,938
1,018,877
Surplus on revaluation of investment property Actuarial gain/(loss) on defined benefit pension scheme
3,250,000 1,291,000
0 ( 2,618,000)
Movement in related deferred tax asset
(331,620)
628,320
Total gains relating to the year
4,263,318
( 970,803)
2013
2012
Fixed assets
13,366,120
10,101,305
Current assets
25,128,466
25,394,594
Creditors: amounts falling due within one year
(1,739,042)
( 1,931,266)
Net current assets
23,389,424
23,463,328
Total assets less current liabilities
36,755,544
33,564,633
Surplus for the year
Summary Group Balance Sheet at 30 June 2013
Creditors: amounts falling due after one year
(204,168)
( 253,366)
Deferred taxation
(128,664)
( 131,493)
(297,000)
( 50,000)
Net assets excluding pension liability
36,125,712
33,129,774
Net pension liability
(1,369,060)
( 2,636,440)
Net assets including pension liability
34,756,652
30,493,334
Represented by: Reserves
34,756,652
30,493,334
Loss provision on insurance activities
Summary Company Balance Sheet at 30 June 2013 Fixed assets Current assets Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Deferred taxation
2013
2012
14,699,035
11,359,854
7,186,207
8,002,116
(1,401,140)
( 1,834,654)
5,785,067
6,167,462
20,484,102
17,527,316
(128,664)
( 131,493)
Net assets excluding pension liability
20,355,438
17,395,823
Net pension liability
(1,369,060)
( 2,636,440)
Net assets including pension liability
18,986,378
14,759,383
Represented by: Reserves
18,986,378
14,759,383
©ABTA Ltd
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FINANCIAL HIGHLIGHTS: SUMMARY FINANCIAL STATEMENT
27 NOVEMBER 2013
Directors' statement The auditor has issued an unqualified report on the full annual financial statements and on the consistency of the directors' report with those financial statements. Their report on the full annual financial statements contained no statement under sections 498(2)(a), 498(2)(b) or 498(3) of the Companies Act 2006. The consolidated financial statements incorporate the financial statements of Travelife Ltd and ABTA Insurance PCC Ltd. The Board of Directors approved the full financial statements on 27 November 2013. The summary financial statement is only a summary of information derived from the company's annual accounts and may not contain enough detail to allow for a complete understanding of ABTA's financial affairs and does not constitute full statutory accounts within the meaning of s.434(3) of the Companies Act 2006. For further information, the full financial statements, including the auditor’s report, should be consulted. They can be obtained from: ABTA Ltd 30 Park Street, London SE1 9EQ – Telephone: (0)20 3117 0500 and online at www.abta.com. Independent Auditors' Report to the Members of ABTA Ltd We have examined the summary financial statement of ABTA Limited for the year ended 30 June 2013 which comprises the Summary Group Income & Expenditure Account, Summary Group Statement of Total Recognised Gains and Losses, Summary Group Balance Sheet, and Summary Company Balance Sheet. This report is made solely to the company’s members, as a body, in accordance with sections 495 and 496 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed. Respective responsibilities of directors and auditors The directors are responsible for preparing the summary financial statement in accordance with applicable United Kingdom law. Our responsibility is to report to you our opinion on the consistency of the summary financial statement within the annual review with the full annual financial statements, and its compliance with the relevant requirements of section 427 of the Companies Act 2006 and the regulations made thereunder. Basis of audit opinion We conducted our work in accordance with Bulletin 2008/3 'The auditor's statement on the summary financial statement in the United Kingdom' issued by the Auditing Practices Board. Our report on the company's full annual financial statements describes the basis of our audit opinion on those financial statements. Opinion In our opinion the summary financial statement is consistent with the full annual financial statements of ABTA Limited for the year ended 30 June 2013 and complies with the applicable requirements of section 427 of the Companies Act 2006, and the regulations made thereunder. Chris Malacrida (Senior Statutory Auditor) CHANTREY VELLACOTT DFK LLP Chartered Accountants Statutory Auditor LONDON 27 November 2013
©ABTA Ltd
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