Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31truetrue2023-09-01falseTravel agent33The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01380668 2023-09-01 2024-08-31 01380668 2022-09-01 2023-08-31 01380668 2024-08-31 01380668 2023-08-31 01380668 c:Director1 2023-09-01 2024-08-31 01380668 d:OfficeEquipment 2023-09-01 2024-08-31 01380668 d:OfficeEquipment 2024-08-31 01380668 d:OfficeEquipment 2023-08-31 01380668 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01380668 d:CurrentFinancialInstruments 2024-08-31 01380668 d:CurrentFinancialInstruments 2023-08-31 01380668 d:Non-currentFinancialInstruments 2024-08-31 01380668 d:Non-currentFinancialInstruments 2023-08-31 01380668 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 01380668 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 01380668 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 01380668 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 01380668 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 01380668 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 01380668 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 01380668 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 01380668 d:ShareCapital 2024-08-31 01380668 d:ShareCapital 2023-08-31 01380668 d:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 01380668 d:RetainedEarningsAccumulatedLosses 2024-08-31 01380668 d:RetainedEarningsAccumulatedLosses 2023-08-31 01380668 c:OrdinaryShareClass1 2023-09-01 2024-08-31 01380668 c:OrdinaryShareClass1 2024-08-31 01380668 c:OrdinaryShareClass1 2023-08-31 01380668 c:FRS102 2023-09-01 2024-08-31 01380668 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 01380668 c:FullAccounts 2023-09-01 2024-08-31 01380668 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 01380668 2 2023-09-01 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01380668









NUTSDOWN LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
NUTSDOWN LIMITED
REGISTERED NUMBER:01380668

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
2,350
1,733

  
2,350
1,733

Current assets
  

Debtors: amounts falling due within one year
 4 
32,820
35,087

Cash at bank and in hand
  
78,767
79,980

  
111,587
115,067

Creditors: amounts falling due within one year
 5 
(63,402)
(55,303)

Net current assets
  
 
 
48,185
 
 
59,764

Total assets less current liabilities
  
50,535
61,497

Creditors: amounts falling due after more than one year
 6 
(14,145)
(25,600)

  

Net assets
  
36,390
35,897


Capital and reserves
  

Called up share capital 
 8 
50,000
50,000

Profit and loss account
 9 
(13,610)
(14,103)

  
36,390
35,897


Page 1

 
NUTSDOWN LIMITED
REGISTERED NUMBER:01380668
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 January 2025.




A J Bourne
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
NUTSDOWN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Nutsdown Limited T/A Target Travel is a private company limited by shares and incorporated in England. under registered number 01380668. Its registered office is: 2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond TW9 2JA.       

2.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Going concern

The director has prepared budgets and cashflow forecasts which reflect good operational liquidity and profitability throughout. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being at least the following 12 months from the signing of these financial statements. 
As a result, the director believe that it is still appropriate to apply the going concern basis for the foreseeable future.

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Booking fees and commissions are receivable, depending on the type of booking or contract and recognised as follows:-       
       
Booking fees are recognised on the issue of the sales invoice.       
       
Commission on IATA air tickets, "self billed" purchases and mark ups on the net purchases are recognised when the suppliers are paid in full.       
       
Supplement charges made to clients for services provided are recognised on settlement by the customer.       
       
Sundry commission received for introductions or where suppliers are paid gross are recognised when the receipt is banked       

 
1.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
NUTSDOWN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

.Accounting policies (continued)

 
1.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
1.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
NUTSDOWN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

.Accounting policies (continued)

 
1.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


2.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Average number of employees
3
3

Page 5

 
NUTSDOWN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

3.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 September 2023
10,559


Additions
1,333



At 31 August 2024

11,892



Depreciation


At 1 September 2023
8,826


Charge for the year on owned assets
716



At 31 August 2024

9,542



Net book value



At 31 August 2024
2,350



At 31 August 2023
1,733

Page 6

 
NUTSDOWN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Debtors

2024
2023
£
£


Trade debtors
32,720
33,108

Other debtors
100
1,206

Prepayments and accrued income
-
773

32,820
35,087



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
11,315
11,176

Trade creditors
32,182
24,960

Other taxation and social security
1,210
1,954

Other creditors
15,960
13,401

Accruals and deferred income
2,735
3,812

63,402
55,303



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
14,145
25,600

14,145
25,600


Page 7

 
NUTSDOWN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
11,315
11,176


11,315
11,176

Amounts falling due 1-2 years

Bank loans
14,145
11,176


14,145
11,176

Amounts falling due 2-5 years

Bank loans
-
14,424


-
14,424


25,460
36,776


The above loan provided by Barclays Bank is supported by the Bounce Back Loan Scheme. The loan is for a term of 72 months with no capital repayments or interest payments for the first twelve months. Thereafter, interest is payable at 2.50% per annum fixed for the term of the loan.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50,000 (2023 - 50,000) Ordinary shares of £1.00 each
50,000
50,000



9.


Reserves

Profit and loss account

The profit and loss account represents the net distributable reserves of the Company at the date of the financial position.

Page 8

 
NUTSDOWN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension charge represents contributions payable by the Company to the fund and amounted to £1,673 (2023: £1,520). 


11.


Related party transactions


2024
2023
£
£
A J Bourne


A director in the Company, provided unsecured, interest free and repayable on demand loan. This loan is included in creditors falling due within one year.
12,271
13,401
12,271
13,401


19.


Outstanding BSP

At 31st August 2024 the Company had £14,000 (2023: £7,003) of payments due to International Air Transport Association (IATA) for tickets issued  in the month of August 2024.


12.


Controlling party

The Company is controlled by A J Bourne, the sole director and owner of the entire issued share capital in the Company.       

 
Page 9