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Registration number: 08585949

Travel Gossip Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Travel Gossip Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Travel Gossip Limited

(Registration number: 08585949)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,098

848

Investments

6

100,000

100,000

 

101,098

100,848

Current assets

 

Debtors

7

232,134

148,864

Cash at bank and in hand

 

446,281

208,455

 

678,415

357,319

Creditors: Amounts falling due within one year

8

(362,700)

(288,262)

Net current assets

 

315,715

69,057

Total assets less current liabilities

 

416,813

169,905

Provisions for liabilities

(209)

(161)

Net assets

 

416,604

169,744

Capital and reserves

 

Called up share capital

4

2

Retained earnings

416,600

169,742

Shareholders' funds

 

416,604

169,744

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 10 September 2024 and signed on its behalf by:
 

 

Travel Gossip Limited

(Registration number: 08585949)
Balance Sheet as at 30 June 2024

Mr B J Martin
Director

   
     
 

Travel Gossip Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unity Building
First Floor
20 Chapel Street
Liverpool
L3 9AG

These financial statements were authorised for issue by the Board on 10 September 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Travel Gossip Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% straight line

Fixtures & fittings

33% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Travel Gossip Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 6).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

899

1,010

 

Travel Gossip Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

5,697

5,697

Additions

1,732

1,732

At 30 June 2024

7,429

7,429

Depreciation

At 1 July 2023

5,432

5,432

Charge for the year

899

899

At 30 June 2024

6,331

6,331

Carrying amount

At 30 June 2024

1,098

1,098

At 30 June 2023

848

848

6

Investments

2024
£

2023
£

Investments in subsidiaries

100,000

100,000

Subsidiaries

£

Cost or valuation

At 1 July 2023

100,000

Provision

Carrying amount

At 30 June 2024

100,000

At 30 June 2023

100,000

 

Travel Gossip Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

debtors

Current

2024
£

2023
£

Trade debtors

226,824

141,464

Other debtors

5,310

7,400

 

232,134

148,864

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

37,140

121,499

Trade creditors

 

9,090

268

Taxation and social security

 

143,645

41,036

Accruals and deferred income

 

142,300

122,517

Other creditors

 

30,525

2,942

 

362,700

288,262

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

37,140

121,499