The Inspirational Travel Company Limited Filleted Accounts Cover
The Inspirational Travel Company Limited
Company No. 06032680
Information for Filing with The Registrar
31 December 2023
The Inspirational Travel Company Limited Directors Report Registrar
The Director presents his report and the accounts for the year ended 31 December 2023.
Principal activities
The principal activity of the company during the year under review was that of travel consultancy. The strong performance since the lifting of restrictions on international travel resulting from Covid has continued and the director is pleased to report another strong order book for 2024
Director
The Director who served at any time during the year was as follows:
N.G. Matthews
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
N.G. Matthews
Director
16 October 2024
The Inspirational Travel Company Limited Balance Sheet Registrar
at
31 December 2023
Company No.
06032680
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
1,106100
1,106100
Current assets
Debtors
5
71,655102,414
Cash at bank and in hand
50,80059,404
122,455161,818
Creditors: Amount falling due within one year
6
(79,056)
(122,966)
Net current assets
43,39938,852
Total assets less current liabilities
44,50538,952
Creditors: Amounts falling due after more than one year
7
(25,850)
(33,500)
Net assets
18,6555,452
Capital and reserves
Called up share capital
1,0001,000
Profit and loss account
9
17,6554,452
Total equity
18,6555,452
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2023 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 16 October 2024 and signed on its behalf by:
N.G. Matthews
Director
16 October 2024
The Inspirational Travel Company Limited Notes to the Accounts Registrar
for the year ended 31 December 2023
1
General information
The Inspirational Travel Company Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 06032680
Its registered office is:
1-5 Offord Street
London
N1 1DH
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Specifically, revenue from the organisation and provision of trips for clients is only recognised when the clients have departed on their trip and legal title has passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
20% reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current tax for the year is recognised in profit or loss.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
44
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 January 2023
28,90428,904
Additions
1,5781,578
At 31 December 2023
30,48230,482
Depreciation
At 1 January 2023
28,80428,804
Charge for the year
572572
At 31 December 2023
29,37629,376
Net book values
At 31 December 2023
1,1061,106
At 31 December 2022
100
100
5
Debtors
2023
2022
£
£
Trade debtors
-6,085
Loans to directors
-1,611
Other debtors
5,0005,000
Prepayments and accrued income
66,65589,718
71,655102,414
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Taxes and social security
12,705
12,004
Loans from directors
438-
Accruals and deferred income
65,913110,962
79,056122,966
7
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
25,85033,500
25,85033,500
8
Share Capital
Ordinary shares of £1.00 each allocated, called up and fully paid
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
10
Dividends
2023
2022
£
£
Dividends for the period:
Dividends paid in the period
24,000
3,000
24,000
3,000
Dividends by type:
Equity dividends
24,0003,000
24,000
3,000
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