28 false false true false false false false false false false true false false false false true false No description of principal activity 2024-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 480,000 436,187 21,906 458,093 21,907 43,813 2 2 2 xbrli:pure xbrli:shares iso4217:GBP 03000234 2024-02-01 2025-01-31 03000234 2025-01-31 03000234 2024-01-31 03000234 2023-02-01 2024-01-31 03000234 2024-01-31 03000234 2023-01-31 03000234 core:NetGoodwill 2024-02-01 2025-01-31 03000234 core:PlantMachinery 2024-02-01 2025-01-31 03000234 core:FurnitureFittings 2024-02-01 2025-01-31 03000234 bus:Director1 2024-02-01 2025-01-31 03000234 bus:Director2 2024-02-01 2025-01-31 03000234 core:NetGoodwill 2024-01-31 03000234 core:NetGoodwill 2025-01-31 03000234 core:LandBuildings 2024-01-31 03000234 core:PlantMachinery 2024-01-31 03000234 core:FurnitureFittings 2024-01-31 03000234 core:LandBuildings 2025-01-31 03000234 core:PlantMachinery 2025-01-31 03000234 core:FurnitureFittings 2025-01-31 03000234 core:WithinOneYear 2025-01-31 03000234 core:WithinOneYear 2024-01-31 03000234 core:ShareCapital 2025-01-31 03000234 core:ShareCapital 2024-01-31 03000234 core:RetainedEarningsAccumulatedLosses 2025-01-31 03000234 core:RetainedEarningsAccumulatedLosses 2024-01-31 03000234 core:BetweenOneFiveYears 2025-01-31 03000234 core:BetweenOneFiveYears 2024-01-31 03000234 core:NetGoodwill 2024-01-31 03000234 core:CostValuation core:Non-currentFinancialInstruments 2025-01-31 03000234 core:Non-currentFinancialInstruments 2025-01-31 03000234 core:Non-currentFinancialInstruments 2024-01-31 03000234 core:LandBuildings 2024-01-31 03000234 core:PlantMachinery 2024-01-31 03000234 core:FurnitureFittings 2024-01-31 03000234 bus:Director1 2024-01-31 03000234 bus:Director1 2025-01-31 03000234 bus:Director1 2023-01-31 03000234 bus:Director1 2024-01-31 03000234 bus:Director2 2023-01-31 03000234 bus:Director1 2023-02-01 2024-01-31 03000234 bus:Director2 2023-02-01 2024-01-31 03000234 bus:SmallEntities 2024-02-01 2025-01-31 03000234 bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 03000234 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 03000234 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 03000234 bus:FullAccounts 2024-02-01 2025-01-31 03000234 core:OfficeEquipment 2024-02-01 2025-01-31 03000234 core:OfficeEquipment 2024-01-31 03000234 core:OfficeEquipment 2025-01-31
COMPANY REGISTRATION NUMBER: 03000234
Dunwood Travel Limited
Filleted Unaudited Financial Statements
31 January 2025
Dunwood Travel Limited
Statement of Financial Position
31 January 2025
2025
2024
Note
£
£
£
Fixed assets
Intangible assets
5
21,907
43,813
Tangible assets
6
2,586,830
1,647,920
Investments
7
2
2
-----------
-----------
2,608,739
1,691,735
Current assets
Debtors
8
232,297
118,395
Cash at bank and in hand
3,067,260
2,420,427
-----------
-----------
3,299,557
2,538,822
Creditors: amounts falling due within one year
9
2,437,964
1,911,661
-----------
-----------
Net current assets
861,593
627,161
-----------
-----------
Total assets less current liabilities
3,470,332
2,318,896
Provisions
Taxation including deferred tax
458,051
223,323
-----------
-----------
Net assets
3,012,281
2,095,573
-----------
-----------
Capital and reserves
Called up share capital
30,000
30,000
Profit and loss account
2,982,281
2,065,573
-----------
-----------
Shareholders funds
3,012,281
2,095,573
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dunwood Travel Limited
Statement of Financial Position (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 10 March 2025 , and are signed on behalf of the board by:
Mr P Westwood
Director
Company registration number: 03000234
Dunwood Travel Limited
Notes to the Financial Statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Head Office & Coach Depot, Peartree Lane, Dudley, West Midlands, DY2 0DY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
4% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Coaches
-
7% reducing balance
Fixtures & Fittings
-
15% reducing balance
Equipment
-
15% reducing balance
No depreciation is charged on coaches where excess depreciation has been charged in prior years under the previous policy to the extent that this has resulted in a Net Book Value lower than the value that would have been reflected under this current depreciation policy.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 28 (2024: 28 ).
5. Intangible assets
Goodwill
Other intangible assets
£
£
Cost
At 1 February 2024 and 31 January 2025
480,000
--------
----
Amortisation
At 1 February 2024
436,187
Charge for the year
21,906
--------
----
At 31 January 2025
458,093
--------
----
Carrying amount
At 31 January 2025
21,907
--------
----
At 31 January 2024
43,813
--------
----
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 February 2024
754,628
1,954,990
20,118
55,205
2,784,941
Additions
987,693
2,427
990,120
Disposals
( 35,825)
( 16,197)
( 43,035)
( 95,057)
--------
-----------
-------
-------
-----------
At 31 January 2025
754,628
2,906,858
6,348
12,170
3,680,004
--------
-----------
-------
-------
-----------
Depreciation
At 1 February 2024
1,074,007
17,598
45,416
1,137,021
Charge for the year
38,952
394
976
40,322
Disposals
( 28,660)
( 15,396)
( 40,113)
( 84,169)
--------
-----------
-------
-------
-----------
At 31 January 2025
1,084,299
2,596
6,279
1,093,174
--------
-----------
-------
-------
-----------
Carrying amount
At 31 January 2025
754,628
1,822,559
3,752
5,891
2,586,830
--------
-----------
-------
-------
-----------
At 31 January 2024
754,628
880,983
2,520
9,789
1,647,920
--------
-----------
-------
-------
-----------
7. Investments
Other investments other than loans
£
Cost
At 1 February 2024 and 31 January 2025
2
----
Impairment
At 1 February 2024 and 31 January 2025
----
Carrying amount
At 31 January 2025
2
----
At 31 January 2024
2
----
8. Debtors
2025
2024
£
£
Trade debtors
99,197
67,645
Other debtors
133,100
50,750
--------
--------
232,297
118,395
--------
--------
9. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
2,281,700
1,562,438
Corporation tax
107,380
300,981
Social security and other taxes
22,259
15,573
Other creditors
26,625
32,669
-----------
-----------
2,437,964
1,911,661
-----------
-----------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2025
2024
£
£
Not later than 1 year
6,777
9,554
Later than 1 year and not later than 5 years
587
7,364
------
-------
7,364
16,918
------
-------
11. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2025
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr P Westwood
( 14,322)
( 14,322)
Mr C Duncan
-------
----
-------
( 14,322)
( 14,322)
-------
----
-------
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr P Westwood
( 19,677)
5,355
( 14,322)
Mr C Duncan
( 7,957)
7,957
-------
-------
-------
( 27,634)
13,312
( 14,322)
-------
-------
-------
12. Related party transactions
The company was under the control of Mr P Westwood throughout the current and previous year. Dunwood Travel Limited owns 100% of the issued share capital of Dunwood Coaches Limited. Mr P Westwood is the director of Dunwood Coaches Limited. During the year Dunwood Travel Limited purchased £260,720 (2024: £381,545) from Dunwood Coaches Limited on a commercial basis. Dunwood Travel Limited owed Dunwood Coaches Limited £0 (2024: £0) at the balance sheet date. During the year Dunwood Travel Limited loaned monies to Dunwood Coaches Limited for the sum of £0 (2024: £0) At the balance sheet date the company was owed £0 (2024: £0) from Dunwood Coaches Limited.