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REGISTERED NUMBER: 03404213 (England and Wales)















PENCOED TRAVEL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2025






PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2025




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


PENCOED TRAVEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2025







DIRECTORS: Mrs D K Cook
Mrs A L Talbot





SECRETARY: Mrs A L Talbot





REGISTERED OFFICE: 55 Hunters Ridge
Brackla
Bridgend
Mid Glamorgan
CF31 2LJ





REGISTERED NUMBER: 03404213 (England and Wales)





ACCOUNTANTS: Johns Jones & Lo Limited
Chartered Accountants & Registered Auditors
16 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
CF14 5GF

PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

BALANCE SHEET
31ST JANUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 533,642 557,134

CURRENT ASSETS
Stocks 2,040 2,040
Debtors 5 36,191 48,001
Cash at bank 79,245 59,402
117,476 109,443
CREDITORS
Amounts falling due within one year 6 83,353 110,806
NET CURRENT ASSETS/(LIABILITIES) 34,123 (1,363 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

567,765

555,771

CREDITORS
Amounts falling due after more than one
year

7

(37,746

)

(70,317

)

PROVISIONS FOR LIABILITIES 8 (68,907 ) (73,370 )
NET ASSETS 461,112 412,084

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 461,110 412,082
SHAREHOLDERS' FUNDS 461,112 412,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

BALANCE SHEET - continued
31ST JANUARY 2025


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 10th March 2025 and were signed on its behalf by:





Mrs A L Talbot - Director


PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2025

1. STATUTORY INFORMATION

Pencoed Travel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the period. However the nature of estimation means that actual outcomes could differ from those estimates.

Recoverability of debtors
Estimation is involved in the assessment of the recoverability of debtors and the calculation of the associated bad debt provision. Factors such as the age of the debt, prior experience and recoverability statistics are included in management's assessment.

Useful economic lives if tangible fixed assets
Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. Management regularly reviews the assets useful economic lives. Changes in assets' useful economic lives can have a significant impact on depreciation for the period. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Provision for impairments
Tangible fixed assets are reviewed for signs of impairment each year and written down accordingly. All tangible fixed assets are reviewed by management in conjunction with market data and other relevant information. Changes in any of the factors considered for impairments can affect the value reported in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and Machinery 20% Straight Line
Motor Vehicles 5% Straight Line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks. Debt instruments (other than those wholly repayable or receivable within one year), including loans and account receivables and payables, are initially measured at the transaction price (adjusted for transaction cost) and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangement constitutes a financing transaction, such as a trade debtor or creditor on extended credit terms, inital measurement is at the present value of future cash flows discounted at a market rate of interest. Subsequent measurement is at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is identified, an impairment loss is recognised in the statement of comprehensive income. For financial assets measured at amortised cost,the impairment loss is is measured as the difference between carrying amount and the present value of estimated cash flows discounted at the original sffective interest rate.

A financial asset is derecognised only when the contractual rights to the cash flows from the financial asset expire or are settled or, substantially all of the risks and rewaards of ownership of the financial asset have been transferred to another party or when despite having retained some, but not substantially all, risks and rewards of ownership, control of the asset has been transferred to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer. In this case, the company derecgnises the asset and recognises separately any rights and obligations retained or created in the transfer. A financial liability is derecognised when the contract that gives rise to it is settled, sold, cancelled, or expires. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or terms, or terms of an existing liability are substantially modified, such as an exchange or modification, this is treated as a derecognition of the original liability, such that the difference in the respective carrying amounts together with any costs or fees incurred are recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2025

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Creditors
Creditors include trade creditors, accruals and other short and long-term financial instruments.

Going concern
These financial statements have been prepared on a going concern basis on the grounds that the Directors consider tat the Company has sufficient cash resources to enable the Company to continue to meet its liabilities as they fall due.

Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.

Debtors
Debtors include trade debtors and certain other financial instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2024 721,028
Additions 14,300
Disposals (4,000 )
At 31st January 2025 731,328
DEPRECIATION
At 1st February 2024 163,894
Charge for year 35,892
Eliminated on disposal (2,100 )
At 31st January 2025 197,686
NET BOOK VALUE
At 31st January 2025 533,642
At 31st January 2024 557,134

PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2025

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st February 2024
and 31st January 2025 626,000
DEPRECIATION
At 1st February 2024 121,084
Charge for year 31,300
At 31st January 2025 152,384
NET BOOK VALUE
At 31st January 2025 473,616
At 31st January 2024 504,916

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 31,165 42,578
Other debtors 5,026 5,423
36,191 48,001

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Hire purchase contracts 30,371 65,830
Trade creditors 32,042 30,827
Taxation and social security 2,575 2,038
Other creditors 18,365 12,111
83,353 110,806

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Hire purchase contracts 37,746 70,317

8. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 68,907 73,370

PENCOED TRAVEL LIMITED (REGISTERED NUMBER: 03404213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2025

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st February 2024 73,370
Credit to Income Statement during year (4,463 )
Balance at 31st January 2025 68,907

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st January 2025 and 31st January 2024:

2025 2024
£    £   
Mrs A L Talbot
Balance outstanding at start of year (92 ) -
Amounts advanced 750 3,108
Amounts repaid (1,000 ) (3,200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (342 ) (92 )

Mrs D K Cook
Balance outstanding at start of year (280 ) (188 )
Amounts advanced 750 3,108
Amounts repaid (1,000 ) (3,200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (530 ) (280 )

10. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.