Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr R Watkinson 27/03/2009 Mr A R Wilson 27/03/2009 22 November 2023 The principal activity of the Company during the financial year was that of a travel agent. SC357334 2023-03-31 SC357334 bus:Director1 2023-03-31 SC357334 bus:Director2 2023-03-31 SC357334 2022-03-31 SC357334 core:CurrentFinancialInstruments 2023-03-31 SC357334 core:CurrentFinancialInstruments 2022-03-31 SC357334 core:Non-currentFinancialInstruments 2023-03-31 SC357334 core:Non-currentFinancialInstruments 2022-03-31 SC357334 core:ShareCapital 2023-03-31 SC357334 core:ShareCapital 2022-03-31 SC357334 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC357334 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC357334 core:OtherPropertyPlantEquipment 2022-03-31 SC357334 core:OtherPropertyPlantEquipment 2023-03-31 SC357334 core:CurrentFinancialInstruments 10 2023-03-31 SC357334 core:CurrentFinancialInstruments 10 2022-03-31 SC357334 core:MoreThanFiveYears 2023-03-31 SC357334 core:MoreThanFiveYears 2022-03-31 SC357334 2021-03-31 SC357334 bus:OrdinaryShareClass1 2023-03-31 SC357334 bus:OrdinaryShareClass2 2023-03-31 SC357334 bus:OrdinaryShareClass3 2023-03-31 SC357334 bus:OrdinaryShareClass4 2023-03-31 SC357334 core:KeyManagementPersonnel 2023-03-31 SC357334 core:KeyManagementPersonnel 2022-03-31 SC357334 2022-04-01 2023-03-31 SC357334 bus:FullAccounts 2022-04-01 2023-03-31 SC357334 bus:SmallEntities 2022-04-01 2023-03-31 SC357334 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC357334 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC357334 bus:Director1 2022-04-01 2023-03-31 SC357334 bus:Director2 2022-04-01 2023-03-31 SC357334 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 SC357334 2021-04-01 2022-03-31 SC357334 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 SC357334 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 SC357334 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC357334 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 SC357334 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 SC357334 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 SC357334 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 SC357334 bus:OrdinaryShareClass3 2021-04-01 2022-03-31 SC357334 bus:OrdinaryShareClass4 2022-04-01 2023-03-31 SC357334 bus:OrdinaryShareClass4 2021-04-01 2022-03-31 SC357334 core:KeyManagementPersonnel 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC357334 (Scotland)

R & B TRAVEL LTD.

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

R & B TRAVEL LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

R & B TRAVEL LTD.

BALANCE SHEET

AS AT 31 MARCH 2023
R & B TRAVEL LTD.

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,514 1,775
3,514 1,775
Current assets
Debtors 4 41,625 38,359
Cash at bank and in hand 5 73,418 36,820
115,043 75,179
Creditors: amounts falling due within one year 6 ( 63,864) ( 32,176)
Net current assets 51,179 43,003
Total assets less current liabilities 54,693 44,778
Creditors: amounts falling due after more than one year 7 ( 37,893) ( 43,488)
Provision for liabilities 8, 9 ( 869) ( 434)
Net assets 15,931 856
Capital and reserves
Called-up share capital 10 22 22
Profit and loss account 15,909 834
Total shareholders' funds 15,931 856

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of R & B Travel Ltd. (registered number: SC357334) were approved and authorised for issue by the Director on 22 November 2023. They were signed on its behalf by:

Mr R Watkinson
Director
R & B TRAVEL LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
R & B TRAVEL LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

R & B Travel Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 59 Scott Street, Perth, PH2 8JN, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents commission receivable net of VAT and trade discounts.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of services.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more
likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 - 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the
initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 5,813 5,813
Additions 2,367 2,367
Disposals ( 363) ( 363)
At 31 March 2023 7,817 7,817
Accumulated depreciation
At 01 April 2022 4,038 4,038
Charge for the financial year 392 392
Disposals ( 127) ( 127)
At 31 March 2023 4,303 4,303
Net book value
At 31 March 2023 3,514 3,514
At 31 March 2022 1,775 1,775

4. Debtors

2023 2022
£ £
Trade debtors 24,917 12,243
Other taxation and social security 5,839 7,758
Other debtors 10,869 18,358
41,625 38,359

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 73,418 36,820

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 5,595 5,457
Trade creditors 1,451 0
Taxation and social security 29,640 12,476
Other creditors 27,178 14,243
63,864 32,176

Included in bank loans is a bounce back loan, advanced to the company in the year ending 31 March 2021 which is covered by a government backed guarantee.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 37,893 43,488

Included in bank loans is a bounce back loan, advanced to the company in the year ending 31 March 2021 which is covered by a government backed guarantee.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2023 2022
£ £
Bank loans (repayable by instalments) 14,061 20,244

8. Provision for liabilities

2023 2022
£ £
Deferred tax 869 434

9. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 434) ( 436)
(Charged)/credited to the Statement of Income and Retained Earnings ( 435) 2
At the end of financial year ( 869) ( 434)

10. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10 A Ordinary shares of £ 1.00 each 10 10
10 B Ordinary shares of £ 1.00 each 10 10
1 C Ordinary share of £ 1.00 1 1
1 D Ordinary share of £ 1.00 1 1
22 22

11. Related party transactions

Transactions with the entity’s directors (or members of its governing body)

Amounts owed by directors

2023 2022
£ £
Loan to director 10,869 17,967

Advances have been made in the year to a director totalling £42,833 and £50,408 has been repaid. Interest of £477 was charged at 2%. At 31 March 2023, the total amounts owed to the company by the director was £10,869 (2022 - £17,967). The loan is unsecured and has no fixed terms of repayment. Taxation under S455 has been applied on balances not repaid within 9 months of the company year end.

Amounts owed to directors

2023 2022
£ £
Loan from director 23,648 11,185

Advances have been made in the year to a director totalling £37,944 and £50,407 has been repaid. At 31 March 2023, the total amounts owed to the director by the company was £23,648 (2022 - £11,185). The loan is unsecured and has no fixed terms of repayment.