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Registered number: 08278287










THE TRAVEL SERVICE LONDON LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023


COMPANY INFORMATION


DIRECTOR
C HIRCOMBE 




COMPANY SECRETARY
M HIRCOMBE



REGISTERED NUMBER
08278287



REGISTERED OFFICE
930 HIGH ROAD

LONDON

N12 9RT




ACCOUNTANTS
BAGINSKY COHEN

930 HIGH ROAD

LONDON

N12 9RT






CONTENTS



Page
Accountants' Report
 
 
Balance Sheet
 
 
Notes to the Financial Statements
 
 


  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE TRAVEL SERVICE LONDON LIMITED
FOR THE YEAR ENDED 30 NOVEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Travel Service London Limited for the year ended 30 November 2023 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of The Travel Service London Limited in accordance with the terms of our engagement letter dated 5 November 2012Our work has been undertaken solely to prepare for your approval the financial statements of The Travel Service London Limited  and state those matters that we have agreed to state to the director of The Travel Service London Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Travel Service London Limited and its director for our work or for this report. 

It is your duty to ensure that The Travel Service London Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Travel Service London Limited. You consider that The Travel Service London Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of The Travel Service London Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



BAGINSKY COHEN
 
930 HIGH ROAD
LONDON
N12 9RT
7 February 2024


BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
3,779
11,338

  
3,779
11,338

Current assets
  

Debtors: amounts falling due within one year
 5 
22,116
16,998

Cash at bank and in hand
 6 
7,464
3,197

  
29,580
20,195

Creditors: amounts falling due within one year
 7 
(10,571)
(9,006)

Net current assets
  
 
 
19,009
 
 
11,189

Total assets less current liabilities
  
22,788
22,527

Creditors: amounts falling due after more than one year
 8 
(41,890)
(47,566)

  

Net liabilities
  
(19,102)
(25,039)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
 11 
(19,202)
(25,139)

  
(19,102)
(25,039)




BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 February 2024.





C HIRCOMBE
Director

The notes on  form part of these financial statements.



1.ACCOUNTING POLICIES

 
1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 2).

 
1.2

GOING CONCERN

The director continues to provide financial support to the company.  

 
1.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
1.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.5

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
1.6

INTANGIBLE ASSETS

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
1.7

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.



1.7
TANGIBLE FIXED ASSETS (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.9

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.10

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.11

FINANCIAL INSTRUMENTS

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


2.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 



3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


TANGIBLE FIXED ASSETS





Motor vehicles

£



Cost or valuation


At 1 December 2022
37,792



At 30 November 2023

37,792



Depreciation


At 1 December 2022
26,455


Charge for the year on financed assets
7,558



At 30 November 2023

34,013



Net book value



At 30 November 2023
3,779



At 30 November 2022
11,338


5.


DEBTORS

2023
2022
£
£


Trade debtors
2,775
1,172

Other debtors
19,003
14,811

Prepayments and accrued income
338
1,015

22,116
16,998


Other debtors relates to an amount owing from the Director, Mr C. Hircombe, in the amount of £19.003 (2022 - £14,811). The loan is interest free and has been repaid after the year end.


6.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
7,464
3,197




7.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Corporation tax
1,008
-

Other taxation and social security
1,950
1,360

Obligations under finance lease and hire purchase contracts
5,213
5,360

Accruals and deferred income
2,400
2,286

10,571
9,006



8.


CREDITORS: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
-
5,676

Other creditors
41,890
41,890

41,890
47,566



9.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
-
5,360

Between 1-2 years
-
5,676

-
11,036


10.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



11.


RESERVES

Profit and loss account

This includes all current and prior period retained profit and losses.