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REGISTERED NUMBER: 06549626 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

KELLY'S TRAVEL LIMITED

KELLY'S TRAVEL LIMITED (REGISTERED NUMBER: 06549626)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


KELLY'S TRAVEL LIMITED (REGISTERED NUMBER: 06549626)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 506,185 382,631
506,185 382,631

CURRENT ASSETS
Debtors 6 157,523 99,868
Cash at bank 151,372 44,200
308,895 144,068
CREDITORS
Amounts falling due within one year 7 149,584 134,894
NET CURRENT ASSETS 159,311 9,174
TOTAL ASSETS LESS CURRENT
LIABILITIES

665,496

391,805

CREDITORS
Amounts falling due after more than one
year

8

(383,957

)

(333,529

)

PROVISIONS FOR LIABILITIES 11 (111,032 ) (57,354 )
NET ASSETS 170,507 922

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 170,407 822
SHAREHOLDERS' FUNDS 170,507 922

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 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 23 October 2023 and were signed on its behalf by:




Mrs S M Hooker - Director


KELLY'S TRAVEL LIMITED (REGISTERED NUMBER: 06549626)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Kelly's Travel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06549626

Registered office: 58 Shooters Drive
Nazeing
Essex
EN9 2QD

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of seven years.

Intangible assets
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.

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.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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.

KELLY'S TRAVEL LIMITED (REGISTERED NUMBER: 06549626)

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

2. ACCOUNTING POLICIES - continued

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.

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 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 35,000
AMORTISATION
At 1 April 2022
and 31 March 2023 35,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022 9,358 807,495 816,853
Additions 3,320 206,090 209,410
Disposals - (10,365 ) (10,365 )
At 31 March 2023 12,678 1,003,220 1,015,898
DEPRECIATION
At 1 April 2022 1,872 432,350 434,222
Charge for year 2,535 72,956 75,491
At 31 March 2023 4,407 505,306 509,713
NET BOOK VALUE
At 31 March 2023 8,271 497,914 506,185
At 31 March 2022 7,486 375,145 382,631

KELLY'S TRAVEL LIMITED (REGISTERED NUMBER: 06549626)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 672,935
Additions 206,090
At 31 March 2023 879,025
DEPRECIATION
At 1 April 2022 327,343
Charge for year 69,118
At 31 March 2023 396,461
NET BOOK VALUE
At 31 March 2023 482,564
At 31 March 2022 345,592

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 113,805 59,840
Other debtors 43,718 40,028
157,523 99,868

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 20,000 20,000
Hire purchase contracts (see note 9) 114,037 113,013
Taxation and social security 13,165 -
Other creditors 2,382 1,881
149,584 134,894

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 64,683 82,498
Hire purchase contracts (see note 9) 319,274 251,031
383,957 333,529

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.23 31.3.22
£    £   
Net obligations repayable:
Within one year 114,037 113,013
Between one and five years 319,274 251,031
433,311 364,044

KELLY'S TRAVEL LIMITED (REGISTERED NUMBER: 06549626)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts 433,311 364,044

11. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax
Accelerated capital allowances 111,032 57,354

Deferred
tax
£   
Balance at 1 April 2022 57,354
Provided during year 53,678
Balance at 31 March 2023 111,032

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
60 Ordinary £1 60 60
20 A Ordinary £1 20 20
20 B Ordinary £1 20 20
100 100