Registered number
03217962
NUAGE TRAVEL LIMITED
Unaudited Filleted Accounts
24 December 2023
NUAGE TRAVEL LIMITED
Registered number: 03217962
Balance Sheet
as at 24 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 605 806
Current assets
Debtors 4 214,412 231,959
Cash at bank and in hand 496,892 409,245
711,304 641,204
Creditors: amounts falling due within one year 5 (248,597) (189,558)
Net current assets 462,707 451,646
Net assets 463,312 452,452
Capital and reserves
Called up share capital 50,000 50,000
Profit and loss account 413,312 402,452
Shareholders' funds 463,312 452,452
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MRS KHALEDA B ALI
Director
Approved by the board on 16 July 2024
NUAGE TRAVEL LIMITED
Notes to the Accounts
for the year ended 24 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to pension plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 25 December 2022 38,584
At 24 December 2023 38,584
Depreciation
At 25 December 2022 37,778
Charge for the year 201
At 24 December 2023 37,979
Net book value
At 24 December 2023 605
At 24 December 2022 806
4 Debtors 2023 2022
£ £
Trade debtors 50,919 14,018
Loan to connected company 161,103 179,454
Other debtors 2,390 1,754
214,412 195,226
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 194,936 92,741
Taxation and social security costs 14,611 1,527
Other creditors 39,050 25,386
248,597 119,654
6 Related party transactions
The office premises from which the company operates are personally owned by the directors. The annual rental charge is £9,100 and there were no outstanding balances at 24th December 2023. Mileage allowances were also paid to the directors.
7 Controlling party
The company is controlled by the directors by virtue of holding all of the ordinary issued share capital.
8 Other information
NUAGE TRAVEL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
602, Stratford Road,
Sparkhill
BIRMINGHAM.
B11 4AP
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