Registered number
10923522
READING SCHOOL TRAVEL LTD
Unaudited Filleted Accounts
31 March 2024
READING SCHOOL TRAVEL LTD
Registered number: 10923522
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 15,939 19,537
Current assets
Debtors 4 20,977 -
Cash at bank and in hand 25,296 25,157
46,273 25,157
Creditors: amounts falling due within one year 5 (34,592) (13,834)
Net current assets 11,681 11,323
Total assets less current liabilities 27,620 30,860
Creditors: amounts falling due after more than one year 6 (26,402) (23,805)
Net assets 1,218 7,055
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,216 7,053
Shareholders' funds 1,218 7,055
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.
Iftikhar Ahmed
Director
Approved by the board on 9 September 2024
READING SCHOOL TRAVEL LTD
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 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 goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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:
Motor Vehices 18%
Fixtures, fittings, tools and equipment 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 13
3 Tangible fixed assets
Fixture & Fittings Motor vehicles Total
£ £ £
Cost
At 1 April 2023 100 36,386 36,486
Additions - 3,600 3,600
At 31 March 2024 100 39,986 40,086
Depreciation
At 1 April 2023 100 16,849 16,949
Charge for the year - 7,198 7,198
At 31 March 2024 100 24,047 24,147
Net book value
At 31 March 2024 - 15,939 15,939
At 31 March 2023 - 19,537 19,537
4 Debtors 2024 2023
£ £
Trade debtors 20,977 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 34,592 13,834
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 26,402 23,805
7 Other information
READING SCHOOL TRAVEL LTD is a private company limited by shares and incorporated in England. Its registered office is:
21 Mortimer Close
Reading
RG2 8TT
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