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Company No: 01049029 (England and Wales)

DORCHESTER TRAVEL AGENCY LTD

Unaudited Financial Statements
For the financial year ended 01 July 2023
Pages for filing with the registrar

DORCHESTER TRAVEL AGENCY LTD

Unaudited Financial Statements

For the financial year ended 01 July 2023

Contents

DORCHESTER TRAVEL AGENCY LTD

BALANCE SHEET

As at 01 July 2023
DORCHESTER TRAVEL AGENCY LTD

BALANCE SHEET (continued)

As at 01 July 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 280,000 280,000
Investments 4 4,719 4,715
284,719 284,715
Current assets
Debtors 5 25 10
Cash at bank and in hand 12,244 5,018
12,269 5,028
Creditors: amounts falling due within one year 6 ( 15,568) ( 16,004)
Net current liabilities (3,299) (10,976)
Total assets less current liabilities 281,420 273,739
Provision for liabilities ( 5,867) ( 5,867)
Net assets 275,553 267,872
Capital and reserves
Called-up share capital 50,000 50,000
Fair value reserve 176,114 176,110
Profit and loss account 49,439 41,762
Total shareholders' funds 275,553 267,872

For the financial year ending 01 July 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 Dorchester Travel Agency Ltd (registered number: 01049029) were approved and authorised for issue by the Board of Directors on 07 March 2024. They were signed on its behalf by:

Mr D Dowe
Director
DORCHESTER TRAVEL AGENCY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 01 July 2023
DORCHESTER TRAVEL AGENCY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 01 July 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

Dorchester Travel Agency Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 is recognised at the fair value of the consideration received or receivable for the provision of services in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

The company is run and administered by the directors of the company for whom no formal contracts of service are in place.

3. Investment property

Investment property
£
Valuation
As at 02 July 2022 280,000
As at 01 July 2023 280,000

Valuation

The investment properties class of fixed assets were valued on 1 July 2023 to fair value by the directors who are internal to the company. The basis of this valuation was open market value.
The class of asset has a current value of £280,000 ( 2022 £280,000) and a carrying amount of historical cost of £91,462 (2022 £91,462). The depreciation on this historical cost is £nil (2022 £nil).
There has been no valuation of investment property by an independent valuer.

4. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 02 July 2022 4,715 4,715
Movement in fair value 4 4
At 01 July 2023 4,719 4,719
Carrying value at 01 July 2023 4,719 4,719
Carrying value at 01 July 2022 4,715 4,715

5. Debtors

2023 2022
£ £
Other debtors 25 10

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 818
Taxation and social security 7,857 3,711
Other creditors 7,711 11,475
15,568 16,004

7. Related party transactions

Transactions with the entity's directors

Advances

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 2 July 2022, the balance owed to the directors was £9,783. During the year, £21,065 was advanced to the directors, and £11,257 was repaid by the directors. At 1 July 2023, the balance owed by the directors was £25.

At 2 July 2021, the balance owed to the directors was £15,525. During the year, £15,742 was advanced to the directors, and £10,000 was repaid by the directors. At 1 July 2022, the balance owed to the directors was £9,783.