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Company registration number:
01753301
2001 Travel Limited
Unaudited Filleted Financial Statements for the year ended
30 September 2024
2001 Travel Limited
Statement of Financial Position
30 September 2024
20242023
Note££
Fixed assets    
Tangible assets 5
7,475
 
8,739
 
Investments 6
2
 
2
 
7,477
 
8,741
 
Current assets    
Debtors 7
1,390,193
 
1,362,492
 
Cash at bank and in hand
67,623
 
67,440
 
1,457,816
 
1,429,932
 
Creditors: amounts falling due within one year 8
(1,300,473
)
(1,274,102
)
Net current assets
157,343
 
155,830
 
Total assets less current liabilities 164,820   164,571  
Creditors: amounts falling due after more than one year 9
(13,709
)
(26,936
)
Provisions for liabilities
(1,420
)
(1,661
)
Net assets
149,691
 
135,974
 
Capital and reserves    
Called up share capital
30,000
 
30,000
 
Other reserves
9,000
 
9,000
 
Profit and loss account
110,691
 
96,974
 
Shareholders funds
149,691
 
135,974
 
For the year ending
30 September 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge 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.
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
6 March 2025
, and are signed on behalf of the board by:
D Tsitouras
Director
Company registration number:
01753301
2001 Travel Limited
Notes to the Financial Statements
Year ended
30 September 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office and place of business is
47-49 Daws Lane
,
Mill Hill
,
London
,
NW7 4SD
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Foreign currency

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account

Revenue recognition

Turnover represents income from the sale of tickets, travel insurance and commissions receivable stated net of Value added Tax and was derived from one activity only, that of operation of a travel agency. Revenue from licensable and non licensable activities are recognised at the date of the travel.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not 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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
20% straight line
Fixtures and fittings
10% straight line

Investments

Fixed asset investments are initially measured at cost and subsequently stated at cost less any accumulated impairment losses.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. the aggregate benefit of the lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
3
(2023:
3.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 October 2023
10,249
 
86,794
 
97,043
 
Additions -  
120
 
120
 
At
30 September 2024
10,249
 
86,914
 
97,163
 
Depreciation      
At
1 October 2023
10,249
 
78,055
 
88,304
 
Charge -  
1,384
 
1,384
 
At
30 September 2024
10,249
 
79,439
 
89,688
 
Carrying amount      
At
30 September 2024
-  
7,475
 
7,475
 
At 30 September 2023 -  
8,739
 
8,739
 

6 Investments

Shares in group undertakings and participating interests
£
Cost  
At
1 October 2023
2
 
At
30 September 2024
2
 
Impairment  
At
1 October 2023
and
30 September 2024
-  
Carrying amount  
At
30 September 2024
2
 
At 30 September 2023
2
 

7 Debtors

20242023
££
Trade debtors
1,385,145
 
1,357,499
 
Other debtors
5,048
 
4,993
 
1,390,193
 
1,362,492
 

8 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
14,130
 
14,130
 
Trade creditors
1,257,202
 
1,212,110
 
Taxation and social security
8,394
 
9,278
 
Other creditors
20,747
 
38,584
 
1,300,473
 
1,274,102
 

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
10,950
 
20,921
 
Other creditors
2,759
 
6,015
 
13,709
 
26,936
 

10 Operating leases

The company as lessee    
20242023
££
Not later than 1 year
1,160
 
2,544
 

11 Guarantees and other financial commitments

BSP outstanding cash sales at year end
At the year end the company had an outstanding amount of BSP sales of £34,662 (2023: £25,849)
Contingencies
In the ordinary course of business, the company has entered into a bonding agreement to the value of £25,000

12 Directors' advances, credit and guarantees

Included in other creditors is the sum of £326 (2023: £492) owed to D. Tsitouras as at 30th September 2024

14 Controlling party

D Tsitouras is the controlling party by virtue of shareholding