Registered number
03942800
North Dorset Travel Ltd
Filleted Accounts
31 March 2024
North Dorset Travel Ltd
Registered number: 03942800
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 591,871 397,473
Current assets
Debtors 5 71,047 88,781
Cash at bank and in hand 138,746 148,850
209,793 237,631
Creditors: amounts falling due within one year 6 (84,752) (85,915)
Net current assets 125,041 151,716
Total assets less current liabilities 716,912 549,189
Creditors: amounts falling due after more than one year 7 (69,995) (52,800)
Provisions for liabilities (148,313) (75,144)
Net assets 498,604 421,245
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 8 497,604 420,245
Shareholders' funds 498,604 421,245
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.
Mrs S Green
Director
Approved by the board on 5 August 2024
North Dorset Travel Ltd
Notes to the Accounts
for the year ended 31 March 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 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, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Coach vehicles 12.5% reducing balance
Plant and machinery 25% reducing balance
Fixtures and fittings 25% 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
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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.
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 8 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 40,000
At 31 March 2024 40,000
Amortisation
At 1 April 2023 40,000
At 31 March 2024 40,000
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Coach Vehicles Plant and machinery Fixtures and Fittings Total
£ £ £ £
Cost
At 1 April 2023 922,484 3,450 11,141 937,075
Additions 473,808 - 250 474,058
Disposals (448,000) - - (448,000)
At 31 March 2024 948,292 3,450 11,391 963,133
Depreciation
At 1 April 2023 530,324 1,368 7,910 539,602
Charge for the year 82,440 520 590 83,550
On disposals (251,890) - - (251,890)
At 31 March 2024 360,874 1,888 8,500 371,262
Net book value
At 31 March 2024 587,418 1,562 2,891 591,871
At 31 March 2023 392,160 2,082 3,231 397,473
5 Debtors 2024 2023
£ £
Trade debtors 55,030 65,809
Other debtors 16,017 22,972
71,047 88,781
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,333 8,333
Directors' current accounts 15,682 15,763
Obligations under finance lease and hire purchase contracts 32,008 18,621
Trade creditors 6,102 9,302
Taxation and social security costs 10,020 26,081
Other creditors 12,607 7,815
84,752 85,915
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,946 24,065
Obligations under finance lease and hire purchase contracts 55,049 28,735
69,995 52,800
8 Profit and loss account 2024 2023
£ £
At 1 April 420,246 304,418
Profit for the financial year 97,358 135,827
Dividends (20,000) (20,000)
497,604 420,245
9 Other information
North Dorset Travel Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Freight House
Holton Heath
Poole
Dorset
BH16 6JW
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