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REGISTERED NUMBER: SC339208 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

WESTCROFT TRAVEL LTD

WESTCROFT TRAVEL LTD (REGISTERED NUMBER: SC339208)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WESTCROFT TRAVEL LTD

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: J Cuggy
K Cuggy





SECRETARY: K Cuggy





REGISTERED OFFICE: Q Court
3 Quality Street
Edinburgh
EH4 5BP





REGISTERED NUMBER: SC339208 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

WESTCROFT TRAVEL LTD (REGISTERED NUMBER: SC339208)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,151 3,471
Tangible assets 5 35,259 47,011
38,410 50,482

CURRENT ASSETS
Debtors 6 22,483 28,030
Cash at bank 27,033 4,780
49,516 32,810
CREDITORS
Amounts falling due within one year 7 84,987 56,184
NET CURRENT LIABILITIES (35,471 ) (23,374 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,939

27,108

CREDITORS
Amounts falling due after more than one
year

8

-

24,294
NET ASSETS 2,939 2,814

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,839 2,714
SHAREHOLDERS' FUNDS 2,939 2,814

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

WESTCROFT TRAVEL LTD (REGISTERED NUMBER: SC339208)

BALANCE SHEET - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





K Cuggy - Director


WESTCROFT TRAVEL LTD (REGISTERED NUMBER: SC339208)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Westcroft Travel Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

At 31 March 2024, the company had net current liabilities of £35,471 (2023 - £23,374). The company has relied on the continued support of its creditors to finance its short term working capital requirements. The directors consider it appropriate to prepare the statements on a going concern basis as they expect that this support will continue for the foreseeable future.

TURNOVER
Turnover represents the provision of social care transportation services, net of value added tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been amortised evenly over its estimated useful life of ten years.

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.

Personalised number plates are being amortised evenly over its estimated useful life of 10 years.

The radio licence has not been amortised as the residual value is higher than the cost.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% per annum reducing balance
Plant and machinery - 25% per annum reducing balance
Fixtures and fittings - 25% per annum reducing balance
Motor vehicles - 25% per annum reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

WESTCROFT TRAVEL LTD (REGISTERED NUMBER: SC339208)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

WESTCROFT TRAVEL LTD (REGISTERED NUMBER: SC339208)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Personalised
Radio number
Goodwill licence plate Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 30,000 1,500 3,195 34,695
AMORTISATION
At 1 April 2023 30,000 - 1,224 31,224
Amortisation for year - - 320 320
At 31 March 2024 30,000 - 1,544 31,544
NET BOOK VALUE
At 31 March 2024 - 1,500 1,651 3,151
At 31 March 2023 - 1,500 1,971 3,471

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 5,675 1,583 2,154 62,957 72,369
DEPRECIATION
At 1 April 2023 4,918 1,372 1,688 17,380 25,358
Charge for year 189 52 116 11,395 11,752
At 31 March 2024 5,107 1,424 1,804 28,775 37,110
NET BOOK VALUE
At 31 March 2024 568 159 350 34,182 35,259
At 31 March 2023 757 211 466 45,577 47,011

WESTCROFT TRAVEL LTD (REGISTERED NUMBER: SC339208)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 62,957
Transfer to ownership (32,217 )
At 31 March 2024 30,740
DEPRECIATION
At 1 April 2023 17,380
Charge for year 5,354
Transfer to ownership (8,054 )
At 31 March 2024 14,680
NET BOOK VALUE
At 31 March 2024 16,060
At 31 March 2023 45,577

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,239 10,481
Other debtors 9,244 17,549
22,483 28,030

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,742 12,186
Trade creditors - 603
Taxation and social security 47,366 39,347
Other creditors 31,879 4,048
84,987 56,184

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 24,294

WESTCROFT TRAVEL LTD (REGISTERED NUMBER: SC339208)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 5,742 36,480

10. DEFERRED TAX
£   
Balance at 1 April 2023 (3,780 )
Provided during year (1,409 )
Balance at 31 March 2024 (5,189 )

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
J Cuggy and K Cuggy
Balance outstanding at start of year 11,042 8,983
Amounts advanced 14,813 14,099
Amounts repaid (50,978 ) (12,040 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (25,123 ) 11,042

There are no fixed terms for repayment and interest of 2.25% (2023 - 2%) has been charged when the loans to the directors have been overdrawn by £10,000.