Registered number
02908433
Study Travel Limited
Filleted Accounts
30 November 2023
Study Travel Limited
Registered number: 02908433
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 5,900,000 5,900,000
Tangible assets 4 13,746 17,183
5,913,746 5,917,183
Current assets
Debtors 5 1,237,179 1,426,966
Investments held as current assets 6 168,257 183,955
Cash at bank and in hand 4,019,729 3,235,027
5,425,165 4,845,948
Creditors: amounts falling due within one year 7 (3,044,284) (2,722,857)
Net current assets 2,380,881 2,123,091
Net assets 8,294,627 8,040,274
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 5,795,839 5,795,839
Profit and loss account 2,498,688 2,244,335
Shareholders' funds 8,294,627 8,040,274
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 F Wade
Director
Approved by the board on 18 March 2024
Study Travel Limited
Notes to the Accounts
for the year ended 30 November 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:
Fixtures, fittings, tools and equipment 20% of the balance remaining after disposals, additions and previous years' depreciation charges.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 25 25
3 Intangible fixed assets £
Software development costs
Cost
At 1 December 2022 5,900,000
At 30 November 2023 5,900,000
Amortisation
At 30 November 2023 -
Net book value
At 30 November 2023 5,900,000
At 30 November 2022 5,900,000
Software development costs are to be written off in equal annual instalments over its estimated economic life of 10 years when sales of the product commence.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 48,918
At 30 November 2023 48,918
Depreciation
At 1 December 2022 31,735
Charge for the year 3,437
At 30 November 2023 35,172
Net book value
At 30 November 2023 13,746
At 30 November 2022 17,183
5 Debtors 2023 2022
£ £
Trade debtors 957,182 1,049,339
Customs & Excise 17,921 -
Other debtors 262,076 373,304
Corporation tax repayable - 4,323
1,237,179 1,426,966
6 Investments held as current assets 2023 2022
£ £
Fair value
Listed investments 168,257 183,955
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments (15,698) 27,690
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 158,685 182,513
Taxation and social security costs 194,154 87,797
Other creditors 2,691,445 2,452,547
3,044,284 2,722,857
8 Revaluation reserve 2023 2022
£ £
At 1 December 2022 5,795,839 -
Gain on revaluation of capitalised development costs - 5,795,839
At 30 November 2023 5,795,839 5,795,839
9 Loans to directors
Description and conditions
Owed to the director at 1 December 2021 Drawn by the director during the year Repaid by the director during the year Owed to the director at 30 November 2022
£ £ £ £
Mr S R Roberts
Current account 763 143,953 143,190 -
Mr S F Wade
Current account 979 240,139 239,160 -
1,742 384,092 382,350 -
Loans to and from directors are unsecured, interest free and repayable on demand.
10 Controlling party
The company is controlled by Mr S F Wade, managing director.
11 Other information
Study Travel Limited is a private company limited by shares and incorporated in England. Its registered office is:
International House
142 Cromwell Road
South Kensington
London
SW7 4EF
Study Travel Limited 02908433 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2024 Mr S F Wade No description of principal activity 02908433 2021-12-01 2022-11-30 02908433 core:RevaluationReserve core:LandBuildings 2021-12-01 2022-11-30 02908433 core:WithinOneYear 2022-11-30 02908433 core:ShareCapital 2022-11-30 02908433 core:OtherReservesSubtotal 2022-11-30 02908433 core:RetainedEarningsAccumulatedLosses 2022-11-30 02908433 core:RevaluationReserve 2021-11-30 02908433 2022-12-01 2023-11-30 02908433 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 02908433 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 02908433 bus:Director40 2022-12-01 2023-11-30 02908433 1 2022-12-01 2023-11-30 02908433 2 2022-12-01 2023-11-30 02908433 core:PlantMachinery 2022-12-01 2023-11-30 02908433 core:RevaluationReserve core:LandBuildings 2022-12-01 2023-11-30 02908433 bus:Director2 2022-12-01 2023-11-30 02908433 bus:Director2 1 2022-12-01 2023-11-30 02908433 bus:Director3 2022-12-01 2023-11-30 02908433 bus:Director3 1 2022-12-01 2023-11-30 02908433 countries:England 2022-12-01 2023-11-30 02908433 bus:FRS102 2022-12-01 2023-11-30 02908433 bus:FilletedAccounts 2022-12-01 2023-11-30 02908433 2023-11-30 02908433 core:WithinOneYear 2023-11-30 02908433 core:ShareCapital 2023-11-30 02908433 core:OtherReservesSubtotal 2023-11-30 02908433 core:RetainedEarningsAccumulatedLosses 2023-11-30 02908433 core:Goodwill 2023-11-30 02908433 core:PlantMachinery 2023-11-30 02908433 core:RevaluationReserve 2023-11-30 02908433 bus:Director2 1 2023-11-30 02908433 bus:Director3 1 2023-11-30 02908433 2022-11-30 02908433 core:Goodwill 2022-11-30 02908433 core:PlantMachinery 2022-11-30 02908433 core:RevaluationReserve 2022-11-30 02908433 bus:Director2 1 2022-11-30 02908433 bus:Director3 1 2022-11-30 iso4217:GBP xbrli:pure