Financial highlights: Summary Financial Statement - Abta


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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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