IRIS Accounts Production v23.2.0.158 07322930 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh073229302022-07-31073229302023-07-31073229302022-08-012023-07-31073229302021-07-31073229302021-08-012022-07-31073229302022-07-3107322930ns14:PoundSterlingns10:Original2022-08-012023-07-3107322930ns10:Originalns10:Director12022-08-012023-07-3107322930ns10:Original2022-08-012023-07-3107322930ns10:Original2023-07-3107322930ns10:Originalns10:PrivateLimitedCompanyLtd2022-08-012023-07-3107322930ns10:Originalns10:SmallEntities2022-08-012023-07-3107322930ns10:Originalns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3107322930ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3107322930ns10:SmallCompaniesRegimeForAccountsns10:Original2022-08-012023-07-3107322930ns10:Originalns10:AbridgedAccounts2022-08-012023-07-3107322930ns10:Original12022-08-012023-07-3107322930ns10:Originalns10:Director22022-08-012023-07-3107322930ns10:CompanySecretary1ns10:Original2022-08-012023-07-3107322930ns10:Originalns10:RegisteredOffice2022-08-012023-07-3107322930ns10:Original2022-07-3107322930ns10:Originalns5:CurrentFinancialInstruments2023-07-3107322930ns10:Originalns5:CurrentFinancialInstruments2022-07-3107322930ns10:Originalns5:Non-currentFinancialInstruments2023-07-3107322930ns10:Originalns5:Non-currentFinancialInstruments2022-07-3107322930ns5:ShareCapitalns10:Original2023-07-3107322930ns5:ShareCapitalns10:Original2022-07-3107322930ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-07-3107322930ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3107322930ns10:Original2021-08-012022-07-3107322930ns10:Original2022-07-31
REGISTERED NUMBER: 07322930










The Travel Academy (Cruises) Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2023






The Travel Academy (Cruises) Ltd (Registered number: 07322930)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


The Travel Academy (Cruises) Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mr S M Goldsmith
Mrs J R Goldsmith





SECRETARY: Mrs J R Goldsmith





REGISTERED OFFICE: 31 Sackville Street
Manchester
M1 3LZ





REGISTERED NUMBER: 07322930





ACCOUNTANTS: SKS Shacter Cohen & Bor Ltd
Chartered Accountants
31 Sackville Street
Manchester
M1 3LZ

The Travel Academy (Cruises) Ltd (Registered number: 07322930)

Abridged Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 18,435 47,868
Tangible assets 5 3,356 3,473
21,791 51,341

CURRENT ASSETS
Debtors 33,050 11,251
Cash at bank 80,107 128,137
113,157 139,388
CREDITORS
Amounts falling due within one year (87,842 ) (151,108 )
NET CURRENT ASSETS/(LIABILITIES) 25,315 (11,720 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,106

39,621

CREDITORS
Amounts falling due after more than one
year

(17,863

)

(37,745

)

PROVISIONS FOR LIABILITIES (797 ) (797 )
NET ASSETS 28,446 1,079

CAPITAL AND RESERVES
Called up share capital 6 4 4
Retained earnings 28,442 1,075
28,446 1,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The Travel Academy (Cruises) Ltd (Registered number: 07322930)

Abridged Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Profit and Loss Account and an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:





Mr S M Goldsmith - Director


The Travel Academy (Cruises) Ltd (Registered number: 07322930)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
31 Sackville Street
Manchester
M1 3LZ
England
These financial statements were authorised for issue by the Board.

2. ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

The Travel Academy (Cruises) Ltd (Registered number: 07322930)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

TANGIBLE ASSETS
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and
installation.

Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class Depreciation method and rate
Fixtures, fittings and equipment 20% reducing balance

Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Asset class Amortisation method and rate
Goodwill 7% straight line

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

The Travel Academy (Cruises) Ltd (Registered number: 07322930)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022
and 31 July 2023 392,433
AMORTISATION
At 1 August 2022 344,565
Amortisation for year 29,433
At 31 July 2023 373,998
NET BOOK VALUE

At 31 July 2023 18,435
At 31 July 2022 47,868

The Travel Academy (Cruises) Ltd (Registered number: 07322930)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 11,836
Additions 630
At 31 July 2023 12,466
DEPRECIATION
At 1 August 2022 8,363
Charge for year 747
At 31 July 2023 9,110
NET BOOK VALUE
At 31 July 2023 3,356
At 31 July 2022 3,473

6. CALLED UP SHARE CAPITAL

2023 2022
No. £    No. £   
Ordinary share of £1 each 2 2 2 2
Ordinary share A & B of £0.10 each 20 2 20 2
22 4 22 4