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Registered number: 07623324
Club Class Executive Travel Europe Ltd
Financial Statements
For The Year Ended 31 May 2024
Cursio & Co. Ltd
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 07623324
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 25,000 25,000
Tangible Assets 5 37,938 50,270
62,938 75,270
CURRENT ASSETS
Cash at bank and in hand 199 364
199 364
Creditors: Amounts Falling Due Within One Year 6 (116,201 ) (133,331 )
NET CURRENT ASSETS (LIABILITIES) (116,002 ) (132,967 )
TOTAL ASSETS LESS CURRENT LIABILITIES (53,064 ) (57,697 )
Creditors: Amounts Falling Due After More Than One Year 7 (39,414 ) (44,967 )
NET LIABILITIES (92,478 ) (102,664 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Income Statement (92,480 ) (102,666 )
SHAREHOLDERS' FUNDS (92,478) (102,664)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr S Wedlake
Director
25 February 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Club Class Executive Travel Europe Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07623324 . The registered office is 8 Axis Court Mallard Way, Riverside Business Park, Swansea, SA7 0AJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 20% Reducing Balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 25,000
As at 31 May 2024 25,000
Net Book Value
As at 31 May 2024 25,000
As at 1 June 2023 25,000
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Page 4
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 519 97,145 12,694 110,358
As at 31 May 2024 519 97,145 12,694 110,358
Depreciation
As at 1 June 2023 492 50,947 8,649 60,088
Provided during the period 6 11,460 866 12,332
As at 31 May 2024 498 62,407 9,515 72,420
Net Book Value
As at 31 May 2024 21 34,738 3,179 37,938
As at 1 June 2023 27 46,198 4,045 50,270
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 162
Bank loans and overdrafts 324 25
VAT - 6,975
Other creditors 26,503 34,074
Accruals and deferred income 10,205 8,621
Director's loan account 79,169 83,474
116,201 133,331
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 39,414 44,967
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4