Registered number
11659477
E Travel North East Ltd
Report and Accounts
31 October 2023
E Travel North East Ltd
Registered number: 11659477
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 229,558 83,705
Current assets
Debtors 4 5,254 2,759
Cash at bank and in hand 243,179 333,706
248,433 336,465
Creditors: amounts falling due within one year 5 (141,284) (101,804)
Net current assets 107,149 234,661
Total assets less current liabilities 336,707 318,366
Provisions for liabilities (41,475) (15,831)
Net assets 295,232 302,535
Capital and reserves
Called up share capital 100 100
Profit and loss account 295,132 302,435
Shareholder's funds 295,232 302,535
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
D Henderson-Thynne
Director
Approved by the board on 26 July 2024
E Travel North East Ltd
Notes to the revised Accounts
for the year ended 31 October 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.
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:
Motor Vehicles 15% reducing balance
Equipment 20% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 November 2022 482 112,000 112,482
Additions 1,403 172,194 173,597
At 31 October 2023 1,885 284,194 286,079
Depreciation
At 1 November 2022 97 28,680 28,777
Charge for the year 109 27,635 27,744
At 31 October 2023 206 56,315 56,521
Net book value
At 31 October 2023 1,679 227,879 229,558
At 31 October 2022 385 83,320 83,705
4 Debtors 2023 2022
£ £
Other debtors 5,254 2,759
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,025 500
Taxation and social security costs 55,626 55,626
Other creditors including director's loan account 84,633 45,678
141,284 101,804
6 Other information
E Travel North East Ltd is a private company limited by shares and incorporated in England. Its registered office is:
48a The Grove
Marton-in-Cleveland
Middlesbrough
Cleveland
TS7 8AG
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