Registered number
13955603
Thornton Bespoke Travel Ltd
Filleted Accounts
31 March 2023
Thornton Bespoke Travel Ltd
Registered number: 13955603
Balance Sheet
as at 31 March 2023
Notes 2023
£
Fixed assets
Intangible assets 3 22,500
Tangible assets 4 1,709
24,209
Current assets
Debtors 5 4,629
Cash at bank and in hand 119
4,748
Creditors: amounts falling due within one year 6 (9,281)
Net current assets (4,533)
Total assets less current liabilities 19,676
Provisions for liabilities (325)
Net assets 19,351
Capital and reserves
Called up share capital 101
Profit and loss account 19,250
Shareholders' funds 19,351
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs K Thornton
Director
Approved by the board on 20 October 2023
Thornton Bespoke Travel Ltd
Notes to the Accounts
for the period from 4 March 2022 to 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is commssion received.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023
Number
Average number of persons employed by the company 2
3 Intangible fixed assets £
Goodwill:
Cost
Additions 25,000
At 31 March 2023 25,000
Amortisation
Provided during the period 2,500
At 31 March 2023 2,500
Net book value
At 31 March 2023 22,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 2,010
At 31 March 2023 2,010
Depreciation
Charge for the period 301
At 31 March 2023 301
Net book value
At 31 March 2023 1,709
5 Debtors 2023
£
Trade debtors 4,629
6 Creditors: amounts falling due within one year 2023
£
Taxation and social security costs 9,054
Other creditors 227
9,281
7 Related party transactions
The company owed the directors £192 as at 31st March 2023.
8 Other information
Thornton Bespoke Travel Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 18 City Business Park
Somerset Place
Plymouth
Devon
PL3 4BB
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