Company registration number 1177989 (England and Wales)
EDWIN DORAN'S TRAVEL WORLD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
EDWIN DORAN'S TRAVEL WORLD LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
EDWIN DORAN'S TRAVEL WORLD LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
589
943
Investment property
5
1,797,500
1,797,500
Investments
6
-
0
189,197
1,798,089
1,987,640
Current assets
Debtors
7
115,047
40,239
Cash at bank and in hand
638,976
724,094
754,023
764,333
Creditors: amounts falling due within one year
8
(4,253)
(48,716)
Net current assets
749,770
715,617
Total assets less current liabilities
2,547,859
2,703,257
Creditors: amounts falling due after more than one year
9
-
0
(50,655)
Provisions for liabilities
(16,366)
(9,599)
Net assets
2,531,493
2,643,003
Capital and reserves
Called up share capital
50,000
50,000
Other reserves
1,345,385
1,345,385
Profit and loss reserves
1,136,108
1,247,618
Total equity
2,531,493
2,643,003
EDWIN DORAN'S TRAVEL WORLD LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for:

(a) ensuring that the company keeps accounting records which comply with Section 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 of the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved and signed by the director and authorised for issue on 26 September 2024
Mr E Doran
Director
Company Registration No. 1177989
EDWIN DORAN'S TRAVEL WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

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

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

The turnover shown in the profit and loss account represents revenue recognised by the company in respect of the investment property rentals during the period.

1.3
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.

 

Debentures are being amortised evenly over their estimated useful life of nil years.

1.4
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:

Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property is included at fair value at the balance sheet date. Any surplus on revaluation is recognised in the income statement. No amortisation or depreciation is provided in respect of freehold investment properties and leasehold investment properties. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

1.6
Intangible Fixed Assets

Intangible fixed assets are investments in RFU Debentures. These have been amortised over their expected life of 10 years.

EDWIN DORAN'S TRAVEL WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.7
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 tax

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 reserved 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 law that have been enacted or substantively enacted by the period 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.

 

Deferred tax is provided on revaluation gains at the rate expected to apply when the property is sold.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10

Unlisted Investments

Unlisted investments are investments in wine futures. These assets are measured at cost.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
EDWIN DORAN'S TRAVEL WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Intangible fixed assets
Other intangible assets
£
Cost
At 1 January 2023 and 31 December 2023
72,520
Amortisation and impairment
At 1 January 2023 and 31 December 2023
72,520
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
1,061
Depreciation and impairment
At 1 January 2023
118
Depreciation charged in the year
354
At 31 December 2023
472
Carrying amount
At 31 December 2023
589
At 31 December 2022
943
5
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
1,797,500

If investments properties were stated on an historical cost basis rather than a fair value basis, the carrying amount would have been included at £452,115.

6
Fixed asset investments
2023
2022
£
£
Unlisted investments
-
189,197
EDWIN DORAN'S TRAVEL WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
111,230
39,579
Other debtors
3,817
660
115,047
40,239
8
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
1,932
-
0
Other creditors
-
0
46,556
Accruals and deferred income
2,321
2,160
4,253
48,716
9
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
-
0
50,655
10
Prior period adjustment
Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 Dec 2022
£
£
£
Fixed assets
Investment properties
3,002,499
(1,204,999)
1,797,500
Provisions for liabilities
Deferred tax
(242,467)
232,868
(9,599)
Net assets
3,615,134
(972,131)
2,643,003
Capital and reserves
Other reserves
2,550,384
(1,204,999)
1,345,385
Profit and loss reserves
1,014,750
232,868
1,247,618
Total equity
3,615,134
(972,131)
2,643,003
Prior period adjustments have been included to reflect the fair market value of investment properties at the balance sheet date, as well as adjustments to do deferred tax as appropriate.
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