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REGISTERED NUMBER: 10566127 (England and Wales)

















MORRISON TRAVEL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






MORRISON TRAVEL LIMITED (REGISTERED NUMBER: 10566127)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


MORRISON TRAVEL LIMITED (REGISTERED NUMBER: 10566127)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,238 2,983
Investment property 5 556,240 556,240
558,478 559,223

CURRENT ASSETS
Cash at bank 15,771 20,956

CREDITORS
Amounts falling due within one year 6 4,254 2,198
NET CURRENT ASSETS 11,517 18,758
TOTAL ASSETS LESS CURRENT
LIABILITIES

569,995

577,981

CREDITORS
Amounts falling due after more than one
year

7

(591,441

)

(579,431

)

PROVISIONS FOR LIABILITIES (9,338 ) (9,338 )
NET LIABILITIES (30,784 ) (10,788 )

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 45,296 45,296
Retained earnings (76,180 ) (56,184 )
(30,784 ) (10,788 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

MORRISON TRAVEL LIMITED (REGISTERED NUMBER: 10566127)

BALANCE SHEET - continued
31 JANUARY 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 28 October 2024 and were signed on its behalf by:





Mrs A Morrison - Director


MORRISON TRAVEL LIMITED (REGISTERED NUMBER: 10566127)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Morrison Travel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10566127

Registered office: Alexander House
40a Wilbury Way
Hitchin
SG4 0AP

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty

Turnover
The company lets its investment property and turnover represents the rent received or receivable in the year; it excludes discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously


MORRISON TRAVEL LIMITED (REGISTERED NUMBER: 10566127)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The directors are of the opinion that it is appropriate to prepare the accounts on a going concern basis and the directors have pledged their continued support for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2023
and 31 January 2024 3,714
DEPRECIATION
At 1 February 2023 731
Charge for year 745
At 31 January 2024 1,476
NET BOOK VALUE
At 31 January 2024 2,238
At 31 January 2023 2,983

MORRISON TRAVEL LIMITED (REGISTERED NUMBER: 10566127)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 556,240
NET BOOK VALUE
At 31 January 2024 556,240
At 31 January 2023 556,240

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2018 36,428
Valuation in 2022 18,206
Cost 501,606
556,240

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 501,606 493,572

The investment property was valued on an open market basis on 31 January 2024 by the director .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,150 147
Other creditors 2,104 2,051
4,254 2,198

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 591,441 579,431

8. RESERVES
Fair
value
reserve
£   
At 1 February 2023
and 31 January 2024 45,296

MORRISON TRAVEL LIMITED (REGISTERED NUMBER: 10566127)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

9. RELATED PARTY DISCLOSURES

Anna Morrison Consultancy Services Limited
A company in which Mrs A Morrison is a director and shareholder.

Amounts due to the related party at the balance sheet date is £591,441 (2023 - £579,431).

This loan is unsecured and there is no interest payable.