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Versatile Travel Limited
Unaudited filleted financial statements
05 April 2023
Company registration number: 09992267
Versatile Travel Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Versatile Travel Limited
Directors and other information
Director K. L. Freeth
Company number 09992267
Registered office Heathfield 4 Ancaster View
West Park
Leeds
West Yorkshire
LS16 5HR
Accountants DJH Mitten Clarke Leeds Limited
1-2 Victoria Court
Bank Square
Morley
Leeds
LS27 9SE
Bankers Santander Business Banking
Bridle Road
Bootle
Merseyside
L30 4GB
Versatile Travel Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Versatile Travel Limited
Year ended 5 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Versatile Travel Limited for the year ended 5 April 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Versatile Travel Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Versatile Travel Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Versatile Travel Limited and its director as a body for our work or for this report.
It is your duty to ensure that Versatile Travel Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Versatile Travel Limited. You consider that Versatile Travel Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Versatile Travel Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
DJH Mitten Clarke Leeds Limited
Chartered Accountants
1-2 Victoria Court
Bank Square
Morley
Leeds
LS27 9SE
22 September 2023
Versatile Travel Limited
Statement of financial position
5 April 2023
2023 2022
Note £ £ £ £
Current assets
Debtors 5 1 1
_______ _______
1 1
Net current assets 1 1
_______ _______
Total assets less current liabilities 1 1
_______ _______
Net assets 1 1
_______ _______
Capital and reserves
Called up share capital 6 1 1
_______ _______
Shareholders funds 1 1
_______ _______
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 05 April 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 September 2023 , and are signed on behalf of the board by:
K. L. Freeth
Director
Company registration number: 09992267
Versatile Travel Limited
Notes to the financial statements
Year ended 5 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Heathfield 4 Ancaster View, West Park, Leeds, West Yorkshire, LS16 5HR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement policy
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in equity during the current year or prior year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Debtors
2023 2022
£ £
Other debtors 1 1
_______ _______
6. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 0.01 each 100 1 100 1
_______ _______ _______ _______
7. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2023 2022
£ £
K. L. Freeth 1 1
_______ _______