Company Registration No. 00703349 (England and Wales)
KINGDOM'S TOURS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
KINGDOM'S TOURS LIMITED
COMPANY INFORMATION
Directors
Mr R S Kingdom
Mr R V Kingdom
Mrs T J Kingdom
(Appointed 1 December 2023)
Company number
00703349
Registered office
Westfield
Exeter Road
Tiverton
Devon
EX16 5DY
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
KINGDOM'S TOURS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
KINGDOM'S TOURS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
136,499
76,501
Current assets
Stocks
15,169
20,842
Debtors
4
178,788
183,323
Cash at bank and in hand
262,474
248,331
456,431
452,496
Creditors: amounts falling due within one year
5
(141,897)
(150,066)
Net current assets
314,534
302,430
Total assets less current liabilities
451,033
378,931
Creditors: amounts falling due after more than one year
6
(12,500)
(26,667)
Provisions for liabilities
(25,727)
(12,957)
Net assets
412,806
339,307
Capital and reserves
Called up share capital
7
6,016
6,016
Other reserves
8,276
8,276
Profit and loss reserves
398,514
325,015
Total equity
412,806
339,307
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 period ended 31 March 2024 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 Act 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 period 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.
KINGDOM'S TOURS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 November 2024 and are signed on its behalf by:
Mr R S Kingdom
Director
Company Registration No. 00703349
KINGDOM'S TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Kingdom's Tours Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.
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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover represents the total invoice value of sales made during the year.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and machinery
10% straight line
Fixtures, fittings & equipment
10% straight line
Computer equipment
over 3 years
Motor vehicles
20% and 15% reducing balance
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.
1.4
Stocks
Stocks are stated at the lower of cost and net realisable value.
1.5
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.
KINGDOM'S TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
1.8
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 any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 23 (2022 - 24).
KINGDOM'S TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2022
25,244
3,410
5,039
563,613
597,306
Additions
45,316
399
64,450
110,165
Disposals
(14,637)
(14,637)
At 31 March 2024
70,560
3,410
5,438
613,426
692,834
Depreciation and impairment
At 1 October 2022
24,502
3,347
4,787
488,169
520,805
Depreciation charged in the period
6,922
17
387
28,204
35,530
At 31 March 2024
31,424
3,364
5,174
516,373
556,335
Carrying amount
At 31 March 2024
39,136
46
264
97,053
136,499
At 30 September 2022
742
63
252
75,444
76,501
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Trade debtors
6,424
13,899
Other debtors
172,008
168,516
Prepayments and accrued income
356
908
178,788
183,323
5
Creditors: amounts falling due within one year
2024
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
26,169
21,877
Corporation tax
6,430
13,890
Other taxation and social security
9,968
6,089
Other creditors
85,793
94,480
Accruals and deferred income
3,537
3,730
141,897
150,066
KINGDOM'S TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2022
£
£
Bank loans and overdrafts
12,500
26,667
7
Called up share capital
2024
2022
£
£
Ordinary share capital
Issued and fully paid
6,016 Ordinary shares of £1 each
6,016
6,016