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REGISTERED NUMBER: 03404213 (England and Wales)















PENCOED TRAVEL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2023






PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


PENCOED TRAVEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2023







DIRECTORS: Mrs D K Cook
Mrs A L Talbot





SECRETARY: Mrs A L Talbot





REGISTERED OFFICE: 55 Hunters Ridge
Brackla
Bridgend
Mid Glamorgan
CF31 2LJ





REGISTERED NUMBER: 03404213 (England and Wales)





ACCOUNTANTS: Johns Jones & Lo Limited
Chartered Accountants & Registered Auditors
16 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
CF14 5GF

PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

BALANCE SHEET
31ST JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 532,816 485,879

CURRENT ASSETS
Stocks 2,040 2,040
Debtors 5 44,200 48,110
Cash at bank 53,051 74,463
99,291 124,613
CREDITORS
Amounts falling due within one year 6 108,472 95,038
NET CURRENT (LIABILITIES)/ASSETS (9,181 ) 29,575
TOTAL ASSETS LESS CURRENT
LIABILITIES

523,635

515,454

CREDITORS
Amounts falling due after more than one
year

7

(60,808

)

(61,253

)

PROVISIONS FOR LIABILITIES 8 (68,750 ) (58,935 )
NET ASSETS 394,077 395,266

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 394,075 395,264
SHAREHOLDERS' FUNDS 394,077 395,266

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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.

PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

BALANCE SHEET - continued
31ST JANUARY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th October 2023 and were signed on its behalf by:





Mrs A L Talbot - Director


PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023

1. STATUTORY INFORMATION

Pencoed Travel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and Machinery 20% Straight Line
Motor Vehicles 5% Straight Line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2022 807,348
Additions 126,180
Disposals (167,500 )
At 31st January 2023 766,028
DEPRECIATION
At 1st February 2022 321,469
Charge for year 37,556
Eliminated on disposal (125,813 )
At 31st January 2023 233,212
NET BOOK VALUE
At 31st January 2023 532,816
At 31st January 2022 485,879

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st February 2022 406,000
Additions 90,000
At 31st January 2023 496,000
DEPRECIATION
At 1st February 2022 64,984
Charge for year 24,800
At 31st January 2023 89,784
NET BOOK VALUE
At 31st January 2023 406,216
At 31st January 2022 341,016

PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 38,744 43,331
Other debtors 5,456 4,779
44,200 48,110

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,000 8,000
Hire purchase contracts 42,591 50,968
Trade creditors 34,748 12,859
Taxation and social security 3,362 1,428
Other creditors 19,771 21,783
108,472 95,038

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,333 27,333
Hire purchase contracts 46,475 33,920
60,808 61,253

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 68,750 58,935

Deferred
tax
£   
Balance at 1st February 2022 58,935
Charge to Income Statement during year 9,815
Balance at 31st January 2023 68,750

PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st January 2023 and 31st January 2022:

2023 2022
£    £   
Mrs A L Talbot
Balance outstanding at start of year - (4,830 )
Amounts advanced - 4,830
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mrs D K Cook
Balance outstanding at start of year (188 ) (188 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (188 ) (188 )

10. ULTIMATE CONTROLLING PARTY

The controlling party is the directors..