Registered number
06998048
The Travel Specialists Limited
Unaudited Filleted Accounts
31 March 2024
The Travel Specialists Limited
Registered number: 06998048
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 352 -
Current assets
Debtors 4 120,086 225,894
Investments held as current assets 5 468,617 302,429
Cash at bank and in hand 23,288 74,271
611,991 602,594
Creditors: amounts falling due within one year 6 (302,625) (398,596)
Net current assets 309,366 203,998
Total assets less current liabilities 309,718 203,998
Provisions for liabilities (88) (274)
Net assets 309,630 203,724
Capital and reserves
Called up share capital 30,010 30,010
Profit and loss account 279,620 173,714
Shareholders' funds 309,630 203,724
The director is 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 director acknowledges his 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.
N French
Director
Approved by the board on 24 July 2024
The Travel Specialists Limited
Notes to the Accounts
for the year ended 31 March 2024
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 represents the total of all travel arrangements organised by the company travelling within the year, net of value added tax and discounts.
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:
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred 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 defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 52,959
Additions 542
At 31 March 2024 53,501
Depreciation
At 1 April 2023 52,959
Charge for the year 190
At 31 March 2024 53,149
Net book value
At 31 March 2024 352
4 Debtors 2024 2023
£ £
Trade debtors 569 16,926
Other debtors 119,517 208,968
120,086 225,894
5 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 468,617 302,429
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 3,672 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 12,636 24,351
Taxation and social security costs 41,526 30,510
Other creditors 248,463 343,735
302,625 398,596
7 Controlling party
The controlling party is Mr N French, the sole director and owner of a majority of the issued share capital of the company.
8 Other information
The Travel Specialists Limited is a private company limited by shares and incorporated in England. Its registered office is:
2nd Floor, Nucleus House
2 Lower Mortlake Road
Richmond
TW9 2JA
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