Company Registration No. 02642038 (England and Wales)
MARANATHA TOURS (EURO) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
92 Station Road
Clacton on Sea
Essex
CO15 1SG
MARANATHA TOURS (EURO) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
MARANATHA TOURS (EURO) LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr M F Hodgson
Company number
02642038
Registered office
Trafalgar House
Oak Business Park
Beaumont cum Moze
Essex
CO16 0AT
Accountants
TC Group
92 Station Road
Clacton on Sea
Essex
CO15 1SG
MARANATHA TOURS (EURO) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
-
0
15,081
Cash at bank and in hand
188
137
188
15,218
Creditors: amounts falling due within one year
5
(383,536)
(382,589)
Net current liabilities
(383,348)
(367,371)
Creditors: amounts falling due after more than one year
6
(20,000)
(29,352)
Net liabilities
(403,348)
(396,723)
Capital and reserves
Called up share capital
100,000
100,000
Share premium account
254,000
254,000
Profit and loss reserves
(757,348)
(750,723)
Total equity
(403,348)
(396,723)
MARANATHA TOURS (EURO) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 20 August 2024
Mr M F Hodgson
Director
Company Registration No. 02642038
The notes on pages 4 to 6 form part of these financial statements
MARANATHA TOURS (EURO) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Maranatha Tours (Euro) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Trafalgar House, Oak Business Park, Beaumont cum Moze, Essex, CO16 0AT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

In common with many businesses operating in the tourism and travel sector, trade was severely impacted by the effects of the Covid 19 pandemic. As a consequence not only did the company have any trading income in 2021, but it was necessary in 2020 & 2021 to write off advance payments to specialist suppliers who had also seen their businesses collapse. This has resulted in the company changing it's business model in 2022 to one where it no longer operates tours, but provides management support and services to the travel sector. The company received no income from these activities in the year ended 31 December 2023 (2022 £Nil). The director has undertaken to continue his financial support for the company, thereby enabling it to meet it's ongoing financial commitments.true

1.3
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

MARANATHA TOURS (EURO) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

 

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
2
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
50
Supplier payments made on account
-
15,031

 

MARANATHA TOURS (EURO) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
22,420
43,420
Payments received on account
200
22,095
Trade creditors
-
0
13,833
Taxation and social security
-
0
367
Other creditors
360,916
302,874
383,536
382,589
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,000
29,352
7
Related undertakings

The company is a subsidiary of Maranatha Holdings Ltd that owns 61.90% of the issued share capital.

 

During the previous year the company charged management fees totaling £41,667 to BR Maranatha (formerly Maranatha Travel), an unincorporated business owned by the director.

 

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