Company Registration No. 2945744 (England and Wales)
RED ROSE TRAVEL LIMITED
Unaudited accounts
for the year ended 31 January 2023
RED ROSE TRAVEL LIMITED
Unaudited accounts
Contents
RED ROSE TRAVEL LIMITED
Company Information
for the year ended 31 January 2023
Directors
Taj Wali KHAN
Sardar Ali KHAN
Company Number
2945744 (England and Wales)
Registered Office
BLINKING OWL GARAGE OXFORD ROAD
HADDENHAM
AYLESBURY
HP17 8TT
ENGLAND
RED ROSE TRAVEL LIMITED
Statement of financial position
as at 31 January 2023
Intangible assets
47,612
71,417
Tangible assets
966,104
1,301,051
Cash at bank and in hand
(41,169)
200,266
Creditors: amounts falling due within one year
(846,035)
(785,593)
Net current liabilities
(156,123)
(405,099)
Total assets less current liabilities
857,593
967,369
Creditors: amounts falling due after more than one year
(475,176)
(434,904)
Net assets
382,417
532,465
Called up share capital
100
100
Profit and loss account
382,317
532,365
Shareholders' funds
382,417
532,465
For the year ending 31 January 2023 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by
Taj Wali KHAN
Director
Company Registration No. 2945744
RED ROSE TRAVEL LIMITED
Notes to the Accounts
for the year ended 31 January 2023
RED ROSE TRAVEL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 2945744. The registered office is BLINKING OWL GARAGE OXFORD ROAD, HADDENHAM, AYLESBURY, HP17 8TT, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Goodwill was acquired in 2011 and is being amortised over its estimated useful life of 10 years from 2016.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Improvements to property - 10% at cost
Plant & machinery
20% at cost
Motor vehicles
20% at cost
Fixtures & fittings
20% at cost
Computer equipment
20% at cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
RED ROSE TRAVEL LIMITED
Notes to the Accounts
for the year ended 31 January 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Intangible fixed assets
Goodwill
At 1 February 2022
238,052
At 31 January 2023
238,052
At 1 February 2022
166,635
Charge for the year
23,805
At 31 January 2023
190,440
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 February 2022
1,123,586
1,168,345
1,299,326
21,492
7,164
3,619,913
Additions
-
25,362
28,000
-
-
53,362
At 31 January 2023
1,123,586
1,193,707
1,327,326
21,492
7,164
3,673,275
At 1 February 2022
277,101
1,099,932
913,173
21,492
7,164
2,318,862
Charge for the year
56,605
71,372
260,332
-
-
388,309
At 31 January 2023
333,706
1,171,304
1,173,505
21,492
7,164
2,707,171
At 31 January 2023
789,880
22,403
153,821
-
-
966,104
At 31 January 2022
846,485
68,413
386,153
-
-
1,301,051
Amounts falling due within one year
Accrued income and prepayments
28,184
-
Other debtors
600,000
160,000
RED ROSE TRAVEL LIMITED
Notes to the Accounts
for the year ended 31 January 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
61,176
22,921
Obligations under finance leases and hire purchase contracts
146,115
86,114
Trade creditors
133,464
49,742
Taxes and social security
105,748
77,705
Loans from directors
399,532
408,863
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Creditors: amounts falling due after more than one year
2023
2022
Bank loans
179,544
292,179
Obligations under finance leases and hire purchase contracts
295,632
142,725
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
Included in other creditors is the sum of £399,532 (2022: £408,863) due to the director, T W Khan. This is an interest free loan and is repayable on demand.
T W Khan is the ultimate controlling party by virtue of his shareholding in the company.
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Average number of employees
During the year the average number of employees was 71 (2022: 61).