Company Registration No. 2945744 (England and Wales)
RED ROSE TRAVEL LIMITED
Unaudited accounts
for the year ended 31 January 2024
RED ROSE TRAVEL LIMITED
Unaudited accounts
Contents
RED ROSE TRAVEL LIMITED
Company Information
for the year ended 31 January 2024
Directors
Taj Wali KHAN
Sardar Ali KHAN
Company Number
2945744 (England and Wales)
Registered Office
BLINKING OWL GARAGE OXFORD ROAD
HADDENHAM
AYLESBURY
HP17 8TT
ENGLAND
RED ROSE TRAVEL LIMITED
Statement of financial position
as at 31 January 2024
Intangible assets
23,807
47,612
Tangible assets
1,353,462
966,104
Cash at bank and in hand
422,587
(41,169)
Creditors: amounts falling due within one year
(1,007,751)
(846,035)
Net current assets/(liabilities)
242,803
(156,123)
Total assets less current liabilities
1,620,072
857,593
Creditors: amounts falling due after more than one year
(550,319)
(475,176)
Net assets
1,069,753
382,417
Called up share capital
100
100
Profit and loss account
1,069,653
382,317
Shareholders' funds
1,069,753
382,417
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by
Taj Wali KHAN
Director
Company Registration No. 2945744
RED ROSE TRAVEL LIMITED
Notes to the Accounts
for the year ended 31 January 2024
RED ROSE TRAVEL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 2945744. The registered office is BLINKING OWL GARAGE OXFORD ROAD, HADDENHAM, AYLESBURY, HP17 8TT, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Goodwill was acquired in 2011 and is being amortised over its estimated useful life of 10 years from 2016.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Improvements to property - 10% at cost
Plant & machinery
20% at cost
Motor vehicles
20% at cost
Fixtures & fittings
20% at cost
Computer equipment
20% at cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
RED ROSE TRAVEL LIMITED
Notes to the Accounts
for the year ended 31 January 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
At 1 February 2023
238,052
At 31 January 2024
238,052
At 1 February 2023
190,440
Charge for the year
23,805
At 31 January 2024
214,245
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 February 2023
1,123,586
1,193,707
1,327,326
21,492
7,164
3,673,275
Additions
-
-
700,000
-
-
700,000
Disposals
-
-
(232,200)
(21,492)
(7,164)
(260,856)
At 31 January 2024
1,123,586
1,193,707
1,795,126
-
-
4,112,419
At 1 February 2023
333,706
1,171,304
1,173,505
21,492
7,164
2,707,171
Charge for the year
56,605
5,072
121,015
-
-
182,692
On disposals
-
-
(102,250)
(21,492)
(7,164)
(130,906)
At 31 January 2024
390,311
1,176,376
1,192,270
-
-
2,758,957
At 31 January 2024
733,275
17,331
602,856
-
-
1,353,462
At 31 January 2023
789,880
22,403
153,821
-
-
966,104
Amounts falling due within one year
Trade debtors
309,231
54,741
Accrued income and prepayments
77,626
28,184
Other debtors
225,000
600,000
RED ROSE TRAVEL LIMITED
Notes to the Accounts
for the year ended 31 January 2024
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
61,176
61,176
Obligations under finance leases and hire purchase contracts
138,499
146,115
Trade creditors
95,393
133,464
Taxes and social security
184,635
105,748
Loans from directors
328,048
399,532
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Creditors: amounts falling due after more than one year
2024
2023
Bank loans
118,368
179,544
Obligations under finance leases and hire purchase contracts
431,951
295,632
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Transactions with related parties
Included in other creditors is the sum of £328,048 (2023: £399,532) due to the director, T W Khan. This is an interest free loan and is repayable on demand.
Included in other debtors £225,000 (2023: £600,000) is due from Redline Buses Ltd.
T W Khan is the ultimate controlling party by virtue of his shareholding in the company.
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Average number of employees
During the year the average number of employees was 71 (2023: 71).