Registered number
10020284
TRAVEL SOS LTD
Filleted Accounts
31 May 2024
TRAVEL SOS LTD
Registered number: 10020284
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 376,432 206,937
Current assets
Debtors 4 98,245 39,097
Cash at bank and in hand 16,791 4,309
115,036 43,406
Creditors: amounts falling due within one year 5 (27,987) (11,692)
Net current assets 87,049 31,714
Total assets less current liabilities 463,481 238,651
Creditors: amounts falling due after more than one year 6 (120,000) (20,140)
Net assets 343,481 218,511
Capital and reserves
Called up share capital 100 100
Profit and loss account 343,381 218,411
Shareholders' funds 343,481 218,511
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
USMAN RAZA ILYAS
Director
Approved by the board on 5 June 2024
TRAVEL SOS LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% rbm
Fixtures, fittings, tools and equipment 15% rbm
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 18 18
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 52,449 242,245 294,694
Additions 4,888 206,100 210,988
At 31 May 2024 57,337 448,345 505,682
Depreciation
At 1 June 2023 16,770 70,987 87,757
Charge for the year 6,085 35,408 41,493
At 31 May 2024 22,855 106,395 129,250
Net book value
At 31 May 2024 34,482 341,950 376,432
At 31 May 2023 35,679 171,258 206,937
4 Debtors 2024 2023
£ £
Trade debtors 88,909 39,097
Other debtors 9,336 -
98,245 39,097
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 17,999 3,735
Trade creditors 9,988 7,955
Taxation and social security costs - 2
27,987 11,692
6 Creditors: amounts falling due after one year 2024 2023
£ £
Commercial Loans 120,000 -
Other creditors - 20,140
120,000 20,140
7 Other information
TRAVEL SOS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 12 Boultbee Business Units
Nechells Place
Birmingham
B7 5AR
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