Congress Bookers Ltd
Unaudited Financial Statements
For the year ended 28 February 2024
Pages for Filing with Registrar
Company Registration No. 08914449 (England and Wales)
Congress Bookers Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Congress Bookers Ltd
Balance Sheet
As at 28 February 2024
Page 1
2024
2023
as restated
Notes
£
£
£
£
Current assets
Debtors
5
1,413,566
1,110,882
Cash at bank and in hand
209,741
430,842
1,623,307
1,541,724
Creditors: amounts falling due within one year
6
(1,718,089)
(1,697,969)
Net current liabilities
(94,782)
(156,245)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(94,882)
(156,345)
Total equity
(94,782)
(156,245)
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 year ended 28 February 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 Companies Act 2006 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 year 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.
The financial statements were approved by the board of directors and authorised for issue on 24 January 2025 and are signed on its behalf by:
L Morariu
Director
Company Registration No. 08914449
Congress Bookers Ltd
Notes to the Financial Statements
For the year ended 28 February 2024
Page 2
1
Accounting policies
Company information
Congress Bookers Ltd is a private company limited by shares domiciled & incorporated in England and Wales. The registered office is 14 Hillside Gardens, London, England, N6 5ST.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 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 principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. The directors will continue to support the business to ensure it will continue in operation.
1.3
Turnover
Turnover represents amounts receivable for services provided to customers net of VAT and trade discounts.
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 in reference to the date on which the congress occurs.
Fixtures, fittings & equipment
4 years straight line
Computer equipment
3 years straight line
1.4
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. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic financial instruments measured at fair value.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Congress Bookers Ltd
Notes to the Financial Statements (Continued)
For the year ended 28 February 2024
1
Accounting policies
(Continued)
Page 3
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
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.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Congress Bookers Ltd
Notes to the Financial Statements (Continued)
For the year ended 28 February 2024
Page 4
3
Directors' remuneration
2024
2023
£
£
Remuneration paid to directors
90,105
48,801
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 and 28 February 2024
52,943
Depreciation and impairment
At 1 March 2023 and 28 February 2024
52,943
Carrying amount
At 28 February 2024
At 28 February 2023
5
Debtors
2024
2023
as restated
Amounts falling due within one year:
£
£
Trade debtors
356,596
530,250
Corporation tax recoverable
19,084
Amounts due from related party
101,850
41,954
Other debtors
1,673
9,833
Prepayments and accrued income
934,363
528,845
1,413,566
1,110,882
Congress Bookers Ltd
Notes to the Financial Statements (Continued)
For the year ended 28 February 2024
Page 5
6
Creditors: amounts falling due within one year
2024
2023
as restated
£
£
Bank loans and overdrafts
49,920
64,745
Trade creditors
62,301
Corporation tax
19,034
Other creditors
144,790
18,702
Accruals and deferred income
1,523,379
1,533,187
1,718,089
1,697,969
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
10,000
10,000
100
100
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
16,400
16,400
9
Related party transactions
During the year the company made purchases of £52,762 (2023: £5,607) from ALF Travel Tours SRL, a company registered in Romania and owned by the Director A Fador.
During the year the company advanced a loan to Congress Bookers SRL, a company under common control. The total loan amount was £101,851 (2023: £41,954) and the total amount remains outstanding at the year end. The loan is interest free and repayable in fiveyears.