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Registered number: 04376255
The Sport & Travel Group Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Laquna Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04376255
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 59,039 53,649
Tangible Assets 5 5,175 5,211
Investments 6 135,000 -
199,214 58,860
CURRENT ASSETS
Stocks 7 - 202
Debtors 8 3,803,552 2,799,005
Cash at bank and in hand 1,797,123 1,716,164
5,600,675 4,515,371
Creditors: Amounts Falling Due Within One Year 9 (5,102,765 ) (3,967,191 )
NET CURRENT ASSETS (LIABILITIES) 497,910 548,180
TOTAL ASSETS LESS CURRENT LIABILITIES 697,124 607,040
NET ASSETS 697,124 607,040
CAPITAL AND RESERVES
Called up share capital 10 30,000 30,000
Profit and Loss Account 667,124 577,040
SHAREHOLDERS' FUNDS 697,124 607,040
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Black
Director
12/06/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Sport & Travel Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04376255 . The registered office is Suite C2 Horsted Keynes Business Park, Cinder Hill Lane, Horsted Keynes, West Sussex, RH17 7BA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 travel services and is recognised by reference to the date of travel and is brought into the profit and loss account with its associated direct costs from the date of travel. 
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. Goodwill has been fully amortised in prior years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are the trading website and integrated administration system. It is amortised to profit and loss account over its estimated economic life of 3 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% on cost
Fixtures & Fittings 33% on cost
Computer Equipment 33% on cost
2.6. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 17)
16 17
Page 3
Page 4
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2023 30,000 59,610 89,610
Additions - 61,618 61,618
Disposals - (48,810 ) (48,810 )
As at 31 March 2024 30,000 72,418 102,418
Amortisation
As at 1 April 2023 30,000 5,961 35,961
Provided during the period - 13,379 13,379
Disposals - (5,961 ) (5,961 )
As at 31 March 2024 30,000 13,379 43,379
Net Book Value
As at 31 March 2024 - 59,039 59,039
As at 1 April 2023 - 53,649 53,649
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 12,625 132,762 145,387
Additions - 3,929 3,929
As at 31 March 2024 12,625 136,691 149,316
Depreciation
As at 1 April 2023 11,992 128,184 140,176
Provided during the period 498 3,467 3,965
As at 31 March 2024 12,490 131,651 144,141
Net Book Value
As at 31 March 2024 135 5,040 5,175
As at 1 April 2023 633 4,578 5,211
6. Investments
Subsidiaries
£
Cost
As at 1 April 2023 -
Additions 135,000
As at 31 March 2024 135,000
Provision
As at 1 April 2023 -
As at 31 March 2024 -
...CONTINUED
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Page 5
Net Book Value
As at 31 March 2024 135,000
As at 1 April 2023 -
The addition to investments during the year, represents the acquisition of 100% of the share capital of Tarleton Travel Agents Limited in February 2024.
7. Stocks
2024 2023
£ £
Stock - 202
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,909 19,180
Amounts owed by group undertakings 465,955 -
Other debtors 3,333,688 2,779,825
3,803,552 2,799,005
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,951,110 1,222,273
Other creditors 3,052,716 2,652,630
Taxation and social security 98,939 92,288
5,102,765 3,967,191
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 30,000 30,000
Page 5