2022-11-012023-10-312023-10-31false04574357Fye's Executive Travel 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Fye's Executive Travel Limited

Registered Number
04574357
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

Fye's Executive Travel Limited
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

P Fye

Registered Address

14a Main Street
Cockermouth
CA13 9LQ

Registered Number

04574357 (England and Wales)
Fye's Executive Travel Limited
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets311,96918,976
11,96918,976
Current assets
Stocks-2,100
Debtors1,060-
Cash at bank and on hand15646
1,2162,146
Creditors amounts falling due within one year(52,135)(48,723)
Net current assets (liabilities)(50,919)(46,577)
Total assets less current liabilities(38,950)(27,601)
Creditors amounts falling due after one year(4,133)(10,286)
Provisions for liabilities(2,274)(3,606)
Net assets(45,357)(41,493)
Capital and reserves
Called up share capital22
Profit and loss account(45,359)(41,495)
Shareholders' funds(45,357)(41,493)
The financial statements were approved and authorised for issue by the Director on 24 July 2024, and are signed on its behalf by:
P Fye
Director
Registered Company No. 04574357
Fye's Executive Travel Limited
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
As at the balance sheet date, the company has a deficit of £45,359 (2022: £41,495) on its profit and loss reserve and a total deficit of £45,357 on its shareholders' fund (2022: £41,493). Despite this, the directors of the company have considered the company's trading potential, the continued availability of finance from existing sources, and believe that the company remains a going concern and that it has the ability to successfully trade for a period of not less than 12 months following their approval of these financial statements. They believe that it would be inappropriate for the financial statements to be prepared on the break-up basis as it continues to be possible for the company's liabilities to be met as they fall due.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles25
Office Equipment20
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year44
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 22164,179
Disposals(119,957)
At 31 October 2344,222
Depreciation and impairment
At 01 November 22145,203
Charge for year(3,927)
On disposals(109,023)
At 31 October 2332,253
Net book value
At 31 October 2311,969
At 31 October 2218,976
4.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts4,13310,286