2022-11-012023-10-312023-10-31false04571093Worldwide Travel Connections 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Worldwide Travel Connections Ltd

Registered Number
04571093
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

Worldwide Travel Connections Ltd
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

Lorraine Anne Hall
Stephen Hall
Rebbeca Shaw

Company Secretary

Stephen Hall

Registered Address

4 Mason Court
Gillan Way Penrith 40 Business Park
Penrith
CA11 9GR

Place of Business

36a Greystone Road

Carlisle

CA1 2DJ


Registered Number

04571093 (England and Wales)
Worldwide Travel Connections Ltd
Statement of Financial Position
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets39,9292,368
9,9292,368
Current assets
Debtors568,53743,006
Cash at bank and on hand48,5178,688
117,05451,694
Creditors amounts falling due within one year6(53,489)(44,686)
Net current assets (liabilities)63,5657,008
Total assets less current liabilities73,4949,376
Creditors amounts falling due after one year7(39,608)(45,604)
Net assets33,886(36,228)
Capital and reserves
Called up share capital100100
Profit and loss account33,786(36,328)
Shareholders' funds33,886(36,228)
The financial statements were approved and authorised for issue by the Board of Directors on 21 October 2024, and are signed on its behalf by:
Lorraine Anne Hall
Director
Rebbeca Shaw
Director
Stephen Hall
Director

Registered Company No. 04571093
Worldwide Travel Connections Ltd
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery3
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
2.Average number of employees

20232022
Average number of employees during the year910
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 November 2219,97819,978
Additions10,93010,930
At 31 October 2330,90830,908
Depreciation and impairment
At 01 November 2217,61017,610
Charge for year3,3693,369
At 31 October 2320,97920,979
Net book value
At 31 October 239,9299,929
At 31 October 222,3682,368
4.Impairment of tangible fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables2,8202,820
Other debtors65,71740,186
Total68,53743,006
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables7724,120
Taxation and social security29,37421,549
Other creditors2,1161,985
Accrued liabilities and deferred income21,22717,032
Total53,48944,686
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts39,60845,604
Total39,60845,604
8.Directors advances, credits and guarantees
Included within other debtors falling due within one year is £39,421 (2022 - £13,900) being the amount owed by the director. Net amounts advanced during the year were £25,521. These amounts were both repaid within nine months of the financial year. The loans where charged the official rate of interest were applicable and were repayable on demand.
9.Related party transactions
The company operates out of premises owned by Mr and Mrs Hall, the company pays them £10,000 per annum in rent.