Registered number
09427285
Travaleur Limited
Unaudited Filleted Accounts
29 February 2024
Travaleur Limited
Registered number: 09427285
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 7,645 16,338
Tangible assets 4 8,030 10,321
15,675 26,659
Current assets
Debtors 5 17,341 6,112
Cash at bank and in hand 20,202 8,559
37,543 14,671
Creditors: amounts falling due within one year 6 (4,448) (11,313)
Net current assets 33,095 3,358
Total assets less current liabilities 48,770 30,017
Creditors: amounts falling due after more than one year 7 (112,590) (111,110)
Net liabilities (63,820) (81,093)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (64,820) (82,093)
Shareholders' funds (63,820) (81,093)
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.
K McGee
Director
Approved by the board on 5 August 2024
Travaleur Limited
Notes to the Accounts
for the year ended 29 February 2024
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 represents the net commission and margin earned in respect of the sale of travel and holiday arrangements, net of value added tax, recognised on a booking date basis. Total transaction value (TTV) is the total gross sales amounts receivable in respect of all travel and holiday sales for the period. Section 23 of FRS 102 requires the statutory turnover to be the net commission / margin earned.Trade debtors still represent gross amounts receivable in respect of travel and holiday sales and trade creditors still represent gross amounts payable in respect of travel and holiday purchases. Turnover is attributable to one continuing activity.
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:
Computer Equipment over 3 years
Website Development over 3 years
Vehicle - Plant over 3 years
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Website development:
Cost
At 1 March 2023 43,465
At 29 February 2024 43,465
Amortisation
At 1 March 2023 27,127
Provided during the year 8,693
At 29 February 2024 35,820
Net book value
At 29 February 2024 7,645
At 28 February 2023 16,338
Website Development is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 4,557 9,411 13,968
Additions 2,246 - 2,246
At 29 February 2024 6,803 9,411 16,214
Depreciation
At 1 March 2023 2,079 1,568 3,647
Charge for the year 1,400 3,137 4,537
At 29 February 2024 3,479 4,705 8,184
Net book value
At 29 February 2024 3,324 4,706 8,030
At 28 February 2023 2,478 7,843 10,321
5 Debtors 2024 2023
£ £
Other debtors 17,341 6,112
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 4,922
Other creditors 4,448 6,391
4,448 11,313
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 41,862 41,863
Other creditors 70,728 69,247
112,590 111,110
8 Related party transactions
As at 28 February 2024, the dirtectors R Pfaffli and K McGee were owed £70,730 (2023 £69,247) from the company. This outstanding directors loan is held within other creditors, falling due after one year. the loans are interest free and have no fixed repayment date.
9 Controlling party
We can confirm there is no ultimate controlling party.
10 Other information
Travaleur Limited is a private company limited by shares and incorporated in England. Its registered office is:
2nd Floor
Nucleus House
2 Lower Mortlake Road
Richmond
TW9 2JA
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