RAMSAY WORLD TRAVEL LIMITED

Company Registration Number:
SC089749 (Scotland)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

RAMSAY WORLD TRAVEL LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes

RAMSAY WORLD TRAVEL LIMITED

Directors' report period ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Principal activities of the company

TRAVEL AGENCY.



Directors

The directors shown below have held office during the whole of the period from
1 November 2022 to 31 October 2023

C B RAMSAY
P FLEMINGTON
A MILTON
A RAMSAY


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 January 2024

And signed on behalf of the board by:
Name: C B RAMSAY
Status: Director

RAMSAY WORLD TRAVEL LIMITED

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Fixed assets
Investments: 3 4,212,544 3,712,932
Total fixed assets: 4,212,544 3,712,932
Current assets
Debtors: 4 85,880 192,418
Cash at bank and in hand: 10,560,794 10,145,687
Total current assets: 10,646,674 10,338,105
Creditors: amounts falling due within one year: 5 ( 4,355,086 ) ( 4,072,278 )
Net current assets (liabilities): 6,291,588 6,265,827
Total assets less current liabilities: 10,504,132 9,978,759
Total net assets (liabilities): 10,504,132 9,978,759
Capital and reserves
Called up share capital: 100,000 100,000
Profit and loss account: 10,404,132 9,878,759
Total Shareholders' funds: 10,504,132 9,978,759

The notes form part of these financial statements

RAMSAY WORLD TRAVEL LIMITED

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 30 January 2024
and signed on behalf of the board by:

Name: C B RAMSAY
Status: Director

The notes form part of these financial statements

RAMSAY WORLD TRAVEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services supplied.

    Tangible fixed assets depreciation policy

    Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent impairment losses. 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 the profit and loss.

    Other accounting policies

    Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference Investment properties Investment property which is property held to earn rentals and/or for capital appreciation, is initially recognized at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognized in the profit and loss account. Impairment of fixed assets At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that these assets have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss (if Any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. The recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value, using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of unused holiday entitlement is recognised in the period in which the employee’s services are received. Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments’ of FRS102 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 of the recognised amounts and there is an intention to settle on a net basis to realise the asset and settle the liability simultaneously. Basic financial assets which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financial transaction, where the transactions measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities, including trade and other payables, bank loans and other loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as creditors due in more than one year. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest period.

RAMSAY WORLD TRAVEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 48 48

RAMSAY WORLD TRAVEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Fixed assets investments note

Investment property comprises of a commercial building and land available for rent. The fair value of the investment property has been arrived at on the basis of an internal valuation undertaken by the Directors at 31st October 2023 and based on the current market values of similar assets in the area of the company Investments. The Directors deem that the fair value of the assets is £4,138,120. If investment properties were stated on a historical cost basis rather than a fair value basis, the amounts would have been included at £4,138,120.

RAMSAY WORLD TRAVEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Debtors

2023 2022
£ £
Trade debtors 26,568 4,437
Prepayments and accrued income 59,312 187,981
Total 85,880 192,418

RAMSAY WORLD TRAVEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 3,326,135 3,183,656
Taxation and social security 428,849 388,520
Other creditors 600,102 500,102
Total 4,355,086 4,072,278