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REGISTERED NUMBER: 04829059 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

PANACHE TRAVEL LIMITED

PANACHE TRAVEL LIMITED (Registered number: 04829059)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PANACHE TRAVEL LIMITED

Company Information
for the Year Ended 31 July 2023







DIRECTORS: M KIBLAWI
Mrs H M D KIBLAWI





REGISTERED OFFICE: 59 Lower Northam Road
Hedge End
Southampton
Hampshire
SO30 4FR





REGISTERED NUMBER: 04829059 (England and Wales)





ACCOUNTANTS: CBM Accountants Limited
130 Bournemouth Road
Chandler's Ford
Eastleigh
Hampshire
SO53 3AL

PANACHE TRAVEL LIMITED (Registered number: 04829059)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 210,994 324,142
210,994 324,142

CURRENT ASSETS
Debtors 6 37,422 82,483
Cash at bank and in hand 382,028 162,430
419,450 244,913
CREDITORS
Amounts falling due within one year 7 163,177 161,545
NET CURRENT ASSETS 256,273 83,368
TOTAL ASSETS LESS CURRENT
LIABILITIES

467,267

407,510

PROVISIONS FOR LIABILITIES 8 46,418 60,978
NET ASSETS 420,849 346,532

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 420,749 346,432
SHAREHOLDERS' FUNDS 420,849 346,532

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

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

PANACHE TRAVEL LIMITED (Registered number: 04829059)

Balance Sheet - continued
31 July 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 31 January 2024 and were signed on its behalf by:





Mrs H M D KIBLAWI - Director


PANACHE TRAVEL LIMITED (Registered number: 04829059)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

PANACHE 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.

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 0, is being amortised evenly over its estimated useful life of nil 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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33.33% on cost

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.

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.

PANACHE TRAVEL LIMITED (Registered number: 04829059)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 8,000
AMORTISATION
At 1 August 2022
and 31 July 2023 8,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 3,204 22,806 1,062,071 - 1,088,081
Additions - - - 652 652
Disposals - - (174,445 ) - (174,445 )
At 31 July 2023 3,204 22,806 887,626 652 914,288
DEPRECIATION
At 1 August 2022 - 17,242 746,697 - 763,939
Charge for year - 1,323 52,267 156 53,746
Eliminated on disposal - - (114,391 ) - (114,391 )
At 31 July 2023 - 18,565 684,573 156 703,294
NET BOOK VALUE
At 31 July 2023 3,204 4,241 203,053 496 210,994
At 31 July 2022 3,204 5,564 315,374 - 324,142

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,822 66,969
Other debtors 10,600 15,514
37,422 82,483

PANACHE TRAVEL LIMITED (Registered number: 04829059)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors (1 ) 1,483
Taxation and social security 55,327 37,672
Other creditors 107,851 122,390
163,177 161,545

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 46,418 60,978

Deferred
tax
£   
Balance at 1 August 2022 60,978
Provided during year (14,560 )
Balance at 31 July 2023 46,418

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100