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REGISTERED NUMBER: 05694445 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Glen Valley Tours Ltd.

Glen Valley Tours Ltd. (Registered number: 05694445)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glen Valley Tours Ltd.

Company Information
for the Year Ended 31 March 2024







DIRECTORS: E R Laidler
I D Moffat





SECRETARY: I P Laidler





REGISTERED OFFICE: Station Road
Wooler
Northumberland
NE71 6SP





REGISTERED NUMBER: 05694445 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Glen Valley Tours Ltd. (Registered number: 05694445)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,210,015 1,086,690
Investment property 5 214,962 214,962
1,424,977 1,301,652

CURRENT ASSETS
Stocks 34,372 25,300
Debtors 6 81,731 118,630
Cash at bank 77,197 50,948
193,300 194,878
CREDITORS
Amounts falling due within one year 7 298,753 248,641
NET CURRENT LIABILITIES (105,453 ) (53,763 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,319,524

1,247,889

CREDITORS
Amounts falling due after more than one
year

8

(662,723

)

(622,128

)

PROVISIONS FOR LIABILITIES 10 (190,749 ) (170,143 )
NET ASSETS 466,052 455,618

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 465,952 455,518
SHAREHOLDERS' FUNDS 466,052 455,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 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 to the company.

Glen Valley Tours Ltd. (Registered number: 05694445)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2024 and were signed on its behalf by:




E R Laidler - Director



I D Moffat - Director


Glen Valley Tours Ltd. (Registered number: 05694445)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Glen Valley Tours Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition
Turnover from the provision of services is recognised at the point of the service having been provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Property improvements - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Investment property
Investment property is included at fair value. Gains are recognised in the Profit and Loss Account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.


Glen Valley Tours Ltd. (Registered number: 05694445)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed 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 laws that have been enacted or substantively enacted by the year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Capital based grants are accounted for using the accruals model and have been transferred to a deferred credit and released to the profit and loss account over the useful life of the asset, as disclosed above.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Property Freehold Plant and
improvements property machinery
£    £    £   
COST
At 1 April 2023 74,097 107,050 26,283
Additions - - 17,507
Disposals - - -
At 31 March 2024 74,097 107,050 43,790
DEPRECIATION
At 1 April 2023 14,887 - 16,704
Charge for year 1,482 2,141 5,571
Eliminated on disposal - - -
At 31 March 2024 16,369 2,141 22,275
NET BOOK VALUE
At 31 March 2024 57,728 104,909 21,515
At 31 March 2023 59,210 107,050 9,579

Glen Valley Tours Ltd. (Registered number: 05694445)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 11,594 1,523,729 455 1,743,208
Additions 1,118 380,345 - 398,970
Disposals - (16,300 ) - (16,300 )
At 31 March 2024 12,712 1,887,774 455 2,125,878
DEPRECIATION
At 1 April 2023 11,098 613,677 152 656,518
Charge for year 211 255,573 114 265,092
Eliminated on disposal - (5,747 ) - (5,747 )
At 31 March 2024 11,309 863,503 266 915,863
NET BOOK VALUE
At 31 March 2024 1,403 1,024,271 189 1,210,015
At 31 March 2023 496 910,052 303 1,086,690

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 1,075,760
Additions 365,995
At 31 March 2024 1,441,755
DEPRECIATION
At 1 April 2023 353,839
Charge for year 208,418
At 31 March 2024 562,257
NET BOOK VALUE
At 31 March 2024 879,498
At 31 March 2023 721,921

Glen Valley Tours Ltd. (Registered number: 05694445)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 214,962
NET BOOK VALUE
At 31 March 2024 214,962
At 31 March 2023 214,962

The directors have reviewed the valuation of the investment property in accordance with FRS102 and believe that it represents fair value as at 31 March 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,430 30,499
Other debtors 61,822 80,432
Prepayments and accrued income 3,479 7,699
81,731 118,630

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 38,181 37,912
Hire purchase contracts 200,195 135,727
Trade creditors 27,880 29,488
Taxation and social security 15,214 11,185
Other creditors 8,484 9,914
Directors' current accounts 1,173 17,540
Accruals and deferred income 6,500 6,500
Deferred government grants 1,126 375
298,753 248,641

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 38,517 38,239
Bank loans - 2-5 years 52,347 79,454
Bank loans more than 5 years 39,234 48,855
Hire purchase contracts 499,429 420,580
Deferred government grants 33,196 35,000
662,723 622,128

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 39,234 48,855

Glen Valley Tours Ltd. (Registered number: 05694445)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 699,624 556,307
Bank loans 168,280 204,460
867,904 760,767

Bank loans are secured on the investment property.

Hire purchase contracts are secured on the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 190,749 170,143

Deferred
tax
£   
Balance at 1 April 2023 170,143
Accelerated capital allowances 20,606
Balance at 31 March 2024 190,749

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80 Ordinary £1 80 80
20 A Ordinary £1 20 20
100 100

12. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.

2024 2023
£ £
Amounts due to directors 1,173 17,540

No interest has been charged.