1 01/03/2023 28/02/2024 2024-02-28 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-03-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08897008 2023-03-01 2024-02-28 08897008 2024-02-28 08897008 2023-02-28 08897008 2022-03-01 2023-02-28 08897008 2023-02-28 08897008 2022-02-28 08897008 bus:OrdinaryShareClass1 2023-03-01 2024-02-28 08897008 bus:Director1 2023-03-01 2024-02-28 08897008 core:WithinOneYear 2024-02-28 08897008 core:WithinOneYear 2023-02-28 08897008 core:AfterOneYear 2024-02-28 08897008 core:AfterOneYear 2023-02-28 08897008 core:ShareCapital 2024-02-28 08897008 core:ShareCapital 2023-02-28 08897008 core:RetainedEarningsAccumulatedLosses 2024-02-28 08897008 core:RetainedEarningsAccumulatedLosses 2023-02-28 08897008 bus:OrdinaryShareClass1 core:ShareCapital 2024-02-28 08897008 bus:OrdinaryShareClass1 core:ShareCapital 2023-02-28 08897008 bus:SmallEntities 2023-03-01 2024-02-28 08897008 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 08897008 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 08897008 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 08897008 bus:FullAccounts 2023-03-01 2024-02-28 08897008 1 2023-03-01 2024-02-28
Company registration number: 08897008
The Atlas Discovery Holiday Company Ltd
Unaudited filleted financial statements
28 February 2024
The Atlas Discovery Holiday Company Ltd
Contents
Statement of financial position
Notes to the financial statements
The Atlas Discovery Holiday Company Ltd
Statement of financial position
28 February 2024
2024 2023
Note £ £ £ £
Current assets
Debtors 5 - 3,654
Cash at bank and in hand 480 1,701
_______ _______
480 5,355
Creditors: amounts falling due
within one year 6 ( 9,602) ( 15,288)
_______ _______
Net current liabilities ( 9,122) ( 9,933)
_______ _______
Total assets less current liabilities ( 9,122) ( 9,933)
Creditors: amounts falling due
after more than one year 7 ( 2,221) ( 3,027)
_______ _______
Net liabilities ( 11,343) ( 12,960)
_______ _______
Capital and reserves
Called up share capital 8 100 100
Profit and loss account ( 11,443) ( 13,060)
_______ _______
Shareholders deficit ( 11,343) ( 12,960)
_______ _______
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 November 2024 , and are signed on behalf of the board by:
Mrs D R Carter
Director
Company registration number: 08897008
The Atlas Discovery Holiday Company Ltd
Notes to the financial statements
Year ended 28 February 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Atlas Discovery Holiday Company Ltd, 32 St John Street, Mansfield, Nottinghamshire, NG18 1QJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Company law requires directors to consider whether it is appropriate to prepare the financial statements on a going concern basis. Accordingly, the director has considered financial forecasts for a period of at least 12 months from the date of approving these accounts and which take reasonable account of the potential impact of the economic conditions, in order to determine whether the available facilities are sufficient to support the company's projected financial requirements and whether the forecast income is sufficient to meet the liabilities of the company as they fall due.The director is of the opinion that the company has adequate resources to continue in operational existence for the foreseeable future. The director has therefore adopted the going concern basis in preparing these financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
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 the 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting 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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Debtors
2024 2023
£ £
Other debtors - 3,654
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 1,110 1,009
Trade creditors 60 60
Other creditors 8,432 14,219
_______ _______
9,602 15,288
_______ _______
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 2,221 3,027
_______ _______
8. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
9. Controlling party
The company is controlled by its director Mrs D R Carter by virtue of her majority shareholding.