2022-11-012023-10-312023-10-31false12920187PEARSON TRAVEL 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PEARSON TRAVEL LIMITED

Registered Number
12920187
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

PEARSON TRAVEL LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

PEARSON, Shaun

Company Secretary

PEARSON, Amy Louise

Registered Address

8 Segedunum Business Centre
Station Road
Wallsend
NE28 6HQ

Registered Number

12920187 (England and Wales)
PEARSON TRAVEL LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3323,120159,870
323,120159,870
Current assets
Debtors104,78379,866
Cash at bank and on hand46,49821,728
151,281101,594
Creditors amounts falling due within one year4(118,633)(91,353)
Net current assets (liabilities)32,64810,241
Total assets less current liabilities355,768170,111
Creditors amounts falling due after one year5(45,856)(27,829)
Net assets309,912142,282
Capital and reserves
Called up share capital11
Profit and loss account309,911142,281
Shareholders' funds309,912142,282
The financial statements were approved and authorised for issue by the Director on 31 July 2024, and are signed on its behalf by:
PEARSON, Shaun
Director
Registered Company No. 12920187
PEARSON 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.
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
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
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 (%)
Fixtures and fittings15
Vehicles20
Office Equipment25
2.Average number of employees

20232022
Average number of employees during the year54
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 November 22210,823-4,850215,673
Additions197,1406,8079,771213,718
At 31 October 23407,9636,80714,621429,391
Depreciation and impairment
At 01 November 2254,811-99255,803
Charge for year48,2864811,70150,468
At 31 October 23103,0974812,693106,271
Net book value
At 31 October 23304,8666,32611,928323,120
At 31 October 22156,012-3,858159,870
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables61911,124
Bank borrowings and overdrafts-10,885
Taxation and social security113,49269,344
Other creditors4,522-
Total118,63391,353
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.
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts19,31027,829
Other creditors26,546-
Total45,85627,829
6.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts26,546-