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REGISTERED NUMBER: 06459901 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 December 2023

for

Henshaws Executive Travel Limited

Henshaws Executive Travel Limited (Registered number: 06459901)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Henshaws Executive Travel Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: D Henshaw
Mrs S Henshaw





SECRETARY: Mrs S Henshaw





REGISTERED OFFICE: Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN





REGISTERED NUMBER: 06459901 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Henshaws Executive Travel Limited (Registered number: 06459901)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,705,455 2,654,625
2,705,455 2,654,625

CURRENT ASSETS
Debtors 6 517,848 524,860
Cash at bank and in hand 600,326 638,611
1,118,174 1,163,471
CREDITORS
Amounts falling due within one year 7 484,531 456,028
NET CURRENT ASSETS 633,643 707,443
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,339,098

3,362,068

CREDITORS
Amounts falling due after more than one
year

8

(1,157,147

)

(1,784,639

)

PROVISIONS FOR LIABILITIES (630,557 ) (469,260 )
NET ASSETS 1,551,394 1,108,169

CAPITAL AND RESERVES
Called up share capital 10 101 101
Retained earnings 1,551,293 1,108,068
SHAREHOLDERS' FUNDS 1,551,394 1,108,169

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Henshaws Executive Travel Limited (Registered number: 06459901)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2024 and were signed on its behalf by:





D Henshaw - Director


Henshaws Executive Travel Limited (Registered number: 06459901)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Henshaws Executive Travel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business. The fair value of consideration takes into account trade discounts and settlement discounts.

Goodwill
Goodwill being the amount paid in connection with the acquisition of a business in 2009, was being amortised evenly over its estimated useful life of four years and has now been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery - 15% reducing balance
Fixtures, fittings & equipment - 25% reducing balance
Motor Vehicles - 10% straight line
Computer Equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Henshaws Executive Travel Limited (Registered number: 06459901)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Henshaws Executive Travel Limited (Registered number: 06459901)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents 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.

Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.


Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.


Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.


Basic financial liabilities
Basic financial liabilities, including trade and other payables, and bank loans, that are classified as debt, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Henshaws Executive Travel Limited (Registered number: 06459901)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 42,000
AMORTISATION
At 1 January 2023
and 31 December 2023 42,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 131,954 42,421 9,033
Additions - - -
Disposals - - -
At 31 December 2023 131,954 42,421 9,033
DEPRECIATION
At 1 January 2023 - 29,607 7,828
Charge for year - 1,922 301
Eliminated on disposal - - -
At 31 December 2023 - 31,529 8,129
NET BOOK VALUE
At 31 December 2023 131,954 10,892 904
At 31 December 2022 131,954 12,814 1,205

Henshaws Executive Travel Limited (Registered number: 06459901)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 3,105,310 3,830 3,292,548
Additions 751,588 - 751,588
Disposals (644,270 ) - (644,270 )
At 31 December 2023 3,212,628 3,830 3,399,866
DEPRECIATION
At 1 January 2023 596,658 3,830 637,923
Charge for year 321,750 - 323,973
Eliminated on disposal (267,485 ) - (267,485 )
At 31 December 2023 650,923 3,830 694,411
NET BOOK VALUE
At 31 December 2023 2,561,705 - 2,705,455
At 31 December 2022 2,508,652 - 2,654,625

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 2,646,857
Transfer to ownership (478,000 )
At 31 December 2023 2,168,857
DEPRECIATION
At 1 January 2023 480,739
Charge for year 223,059
Transfer to ownership (173,557 )
At 31 December 2023 530,241
NET BOOK VALUE
At 31 December 2023 1,638,616
At 31 December 2022 2,166,118

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 123,211 120,429
Amounts owed by group undertakings 301,858 243,680
Other debtors - 5,000
Tax - 65,979
VAT 57,673 41,057
Prepayments and accrued income 35,106 48,715
517,848 524,860

Henshaws Executive Travel Limited (Registered number: 06459901)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 8,000 8,000
Other loans 100,000 38,000
Hire purchase contracts 314,312 376,832
Trade creditors 31,171 15,144
Tax 10,285 -
Social security and other taxes 15,064 12,536
Other creditors 699 516
Accruals and deferred income 5,000 5,000
484,531 456,028

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 8,000 8,000
Bank loans - 2-5 years 1,534 9,876
Other loans - 1-2 years 163,959 334,164
Hire purchase contracts 983,654 1,432,599
1,157,147 1,784,639

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 17,534 25,876
Hire purchase contracts 1,297,966 1,809,431
1,315,500 1,835,307

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary shares £1 100 100
1 A Ordinary shares £1 1 1
101 101