Registered number
10490579
TOPCLASS TRAVEL UK GROUP LTD
Filleted Accounts
31 March 2024
TOPCLASS TRAVEL UK GROUP LTD
Registered number: 10490579
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 15,300 12,689
Current assets
Stocks 17,943 13,093
Debtors 4 14,578 -
Cash at bank and in hand 24 89
32,545 13,182
Creditors: amounts falling due within one year 5 (15,261) (8,352)
Net current assets 17,284 4,830
Total assets less current liabilities 32,584 17,519
Creditors: amounts falling due after more than one year 6 (17,303) (18,500)
Net assets/(liabilities) 15,281 (981)
Capital and reserves
Called up share capital 1 1
Profit and loss account 15,280 (982)
Shareholder's funds 15,281 (981)
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 member has 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.
Mr G D Edwards
Director
Approved by the board on 26 September 2024
TOPCLASS TRAVEL UK GROUP LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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 vehicles 20% 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. 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 254 15,295 15,549
Additions - 5,550 5,550
At 31 March 2024 254 20,845 21,099
Depreciation
At 1 April 2023 81 2,779 2,860
Charge for the year 34 2,905 2,939
At 31 March 2024 115 5,684 5,799
Net book value
At 31 March 2024 139 15,161 15,300
At 31 March 2023 173 12,516 12,689
4 Debtors 2024 2023
£ £
Other debtors 14,578 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 5,405 2,965
Other creditors 9,856 5,387
15,261 8,352
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 17,303 18,500
7 Controlling party
The company is ultimately controlled by the director by virtue of his shareholding.
8 Other information
TOPCLASS TRAVEL UK GROUP LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6 Small Business Centre
Pontllanfraith
Blackwood
Gwent
NP12 2DZ
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