Company registration number 03120873 (England and Wales)
KESTREL TRAVEL CONSULTANCY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 NOVEMBER 2021
PAGES FOR FILING WITH REGISTRAR
KESTREL TRAVEL CONSULTANCY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
KESTREL TRAVEL CONSULTANCY LIMITED
BALANCE SHEET
AS AT
25 NOVEMBER 2021
25 November 2021
- 1 -
25 November 2021
2020
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
3
3,096
4,899
Tangible assets
4
3,810
2,964
6,906
7,863
Current assets
Debtors
5
228,650
175,379
Cash at bank and in hand
242
377
228,892
175,756
Creditors: amounts falling due within one year
6
(1,075,967)
(1,093,166)
Net current liabilities
(847,075)
(917,410)
Total assets less current liabilities
(840,169)
(909,547)
Creditors: amounts falling due after more than one year
7
(436,652)
(443,170)
Net liabilities
(1,276,821)
(1,352,717)
Capital and reserves
Called up share capital
8
175,000
175,000
Profit and loss reserves
(1,451,821)
(1,527,717)
Total equity
(1,276,821)
(1,352,717)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 25 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

KESTREL TRAVEL CONSULTANCY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
25 NOVEMBER 2021
25 November 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 October 2024 and are signed on its behalf by:
RN Stephenson
Director
Company registration number 03120873 (England and Wales)
KESTREL TRAVEL CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 NOVEMBER 2021
- 3 -
1
Accounting policies
Company information

Kestrel Travel Consultancy Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dunston House, Sheepbridge Works, Dunston Road, Chesterfield, Derbyshire, S41 9QD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, the principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements show a trueprofit for the year of £75,896 (2020: loss £126,515) and total accumulated losses of £1,451,821 (2020: £1,527,717) with negative shareholders' funds at the year end of £1,276,821(2020: £1,352.717). After consideration, in light of expected future trading performance and through the continuing support of the bank and the directors, the directors believe it is appropriate for the financial statements to be prepared on the going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.
1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website costs
10% straight line
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

KESTREL TRAVEL CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 25 NOVEMBER 2021
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
over terms of the lease
Plant and machinery
15% and 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Government grants

Grants received in relation to the government’s Coronavirus Job Retention Scheme have been recognised within other operating income. The grant is accounted for on the accruals basis once the related payroll.

 

Coronavirus support grants received during the period from local authorities are recognised within other operating income.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

KESTREL TRAVEL CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 25 NOVEMBER 2021
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2021
2020
Number
Number
Total
1
3
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 26 November 2020 and 25 November 2021
189,453
39,155
228,608
Amortisation and impairment
At 26 November 2020
188,240
35,469
223,709
Amortisation charged for the year
1,213
590
1,803
At 25 November 2021
189,453
36,059
225,512
Carrying amount
At 25 November 2021
-
0
3,096
3,096
At 25 November 2020
1,213
3,686
4,899
4
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Total
£
£
£
Cost
At 26 November 2020
10,381
61,507
71,888
Additions
-
0
1,514
1,514
At 25 November 2021
10,381
63,021
73,402
Depreciation and impairment
At 26 November 2020
10,381
58,543
68,924
Depreciation charged in the year
-
0
668
668
At 25 November 2021
10,381
59,211
69,592
Carrying amount
At 25 November 2021
-
0
3,810
3,810
At 25 November 2020
-
0
2,964
2,964
KESTREL TRAVEL CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 25 NOVEMBER 2021
- 6 -
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
173,304
89,184
Other debtors
55,346
86,195
228,650
175,379
6
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
56,542
50,145
Trade creditors
12,392
51,065
Taxation and social security
9,614
-
0
Other creditors
997,419
991,956
1,075,967
1,093,166

Included in Other creditors are amounts due to the directors of £166,306 (2020: £149,791). The amount is unsecured, repayable on demand and no interest is charged on the account.

7
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans
43,482
50,000
Other creditors
393,170
393,170
436,652
443,170

Included in Other creditors are amounts due to the directors of £393,170 (2020: £393,170). The amount is unsecured, repayable on demand and no interest is charged on the account.

8
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
175,000
175,000
175,000
175,000
KESTREL TRAVEL CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 25 NOVEMBER 2021
- 7 -
9
Prior period adjustment
Reconciliation of changes in equity
26 November
25 November
2019
2020
Notes
£
£
Adjustments to prior year
Reversal of commission received
1
-
(178,571)
Equity as previously reported
(1,226,202)
(1,174,146)
Equity as adjusted
(1,226,202)
(1,352,717)
Analysis of the effect upon equity
Profit and loss reserves
-
(178,571)
Reconciliation of changes in profit/(loss) for the previous financial period
2020
Notes
£
Adjustments to prior year
Reversal of commission received
1
(178,571)
Profit as previously reported
52,056
Loss as adjusted
(126,515)
Notes to reconciliation

The prior year adjustment relates to commission received in 2019 which had been incorrectly included as income within the profit and loss account.

 

The effect of this adjustment was to reclassify the commission received to other creditors.

 

This has reduced the profit incurred from £52,056 to a loss of £126,515.

2021-11-252020-11-26false25 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityA MannRN StephensonCL Stephensonfalsefalse031208732020-11-262021-11-25031208732021-11-25031208732020-11-2503120873core:NetGoodwill2021-11-2503120873core:IntangibleAssetsOtherThanGoodwill2021-11-2503120873core:NetGoodwill2020-11-2503120873core:IntangibleAssetsOtherThanGoodwill2020-11-2503120873core:LandBuildingscore:LeasedAssetsHeldAsLessee2021-11-2503120873core:PlantMachinery2021-11-2503120873core:LandBuildingscore:LeasedAssetsHeldAsLessee2020-11-2503120873core:PlantMachinery2020-11-2503120873core:CurrentFinancialInstrumentscore:WithinOneYear2021-11-2503120873core:CurrentFinancialInstrumentscore:WithinOneYear2020-11-2503120873core:Non-currentFinancialInstrumentscore:AfterOneYear2021-11-2503120873core:Non-currentFinancialInstrumentscore:AfterOneYear2020-11-2503120873core:CurrentFinancialInstruments2021-11-2503120873core:CurrentFinancialInstruments2020-11-2503120873core:Non-currentFinancialInstruments2021-11-2503120873core:Non-currentFinancialInstruments2020-11-2503120873core:ShareCapital2021-11-2503120873core:ShareCapital2020-11-2503120873core:RetainedEarningsAccumulatedLosses2021-11-2503120873core:RetainedEarningsAccumulatedLosses2020-11-2503120873bus:Director22020-11-262021-11-2503120873core:Goodwill2020-11-262021-11-2503120873core:IntangibleAssetsOtherThanGoodwill2020-11-262021-11-2503120873core:PatentsTrademarksLicencesConcessionsSimilar2020-11-262021-11-2503120873core:LandBuildingscore:LongLeaseholdAssets2020-11-262021-11-2503120873core:PlantMachinery2020-11-262021-11-25031208732019-11-262020-11-2503120873core:NetGoodwill2020-11-2503120873core:IntangibleAssetsOtherThanGoodwill2020-11-25031208732020-11-2503120873core:NetGoodwill2020-11-262021-11-2503120873core:LandBuildingscore:LeasedAssetsHeldAsLessee2020-11-2503120873core:PlantMachinery2020-11-2503120873core:LandBuildingscore:LeasedAssetsHeldAsLessee2020-11-262021-11-2503120873core:WithinOneYear2021-11-2503120873core:WithinOneYear2020-11-2503120873bus:PrivateLimitedCompanyLtd2020-11-262021-11-2503120873bus:SmallCompaniesRegimeForAccounts2020-11-262021-11-2503120873bus:FRS1022020-11-262021-11-2503120873bus:AuditExemptWithAccountantsReport2020-11-262021-11-2503120873bus:Director12020-11-262021-11-2503120873bus:Director32020-11-262021-11-2503120873bus:FullAccounts2020-11-262021-11-25xbrli:purexbrli:sharesiso4217:GBP