Registered number
08218848
Beardmore Travel Services Ltd
Filleted Accounts
30 September 2023
Beardmore Travel Services Ltd
Registered number: 08218848
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 115,812 30,110
Current assets
Debtors 5 143,221 126,151
Cash at bank and in hand 60 23,568
143,281 149,719
Creditors: amounts falling due within one year 6 (83,572) (76,668)
Net current assets 59,709 73,051
Total assets less current liabilities 175,521 103,161
Creditors: amounts falling due after more than one year 7 (137,440) (101,721)
Provisions for liabilities (22,004) -
Net assets 16,077 1,440
Capital and reserves
Called up share capital 2 2
Profit and loss account 16,075 1,438
Shareholders' funds 16,077 1,440
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.
Mr S Cordial
Director
Approved by the board on 15 November 2023
Beardmore Travel Services Ltd
Notes to the Accounts
for the year ended 30 September 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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Motor Vehicles 25% straight line
Plant and machinery 10% straight line, 33% straight line
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 35 38
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2022 99,000
At 30 September 2023 99,000
Amortisation
At 1 October 2022 99,000
At 30 September 2023 99,000
Net book value
At 30 September 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2022 6,938 284,685 291,623
Additions 872 104,735 105,607
Disposals - (24,750) (24,750)
At 30 September 2023 7,810 364,670 372,480
Depreciation
At 1 October 2022 5,749 255,764 261,513
Charge for the year 317 19,588 19,905
On disposals - (24,750) (24,750)
At 30 September 2023 6,066 250,602 256,668
Net book value
At 30 September 2023 1,744 114,068 115,812
At 30 September 2022 1,189 28,921 30,110
5 Debtors 2023 2022
£ £
Trade debtors 73,216 82,546
Other debtors 70,005 43,605
143,221 126,151
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 30,075 12,385
Obligations under finance lease and hire purchase contracts 14,782 -
Trade creditors 27,457 31,647
Taxation and social security costs 5,341 26,519
Other creditors 5,917 6,117
83,572 76,668
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 16,667 26,667
Obligations under finance lease and hire purchase contracts 37,910 -
Other creditors 82,863 75,054
137,440 101,721
8 Related party transactions
Mr S Cordial charged rent of office to the business of £3247
9 Other information
Beardmore Travel Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
91 Hospital Street
Nantwich
Cheshire
CW5 5RU
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