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REGISTERED NUMBER: 03268068 (England and Wales)













CREIGIAU TRAVEL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






CREIGIAU TRAVEL LIMITED (REGISTERED NUMBER: 03268068)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CREIGIAU TRAVEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr RM Matthews
Mrs LA Matthews
Mr S M Matthews





REGISTERED OFFICE: Station Yard
Station Road
Creigiau
Cardiff
CF15 9NT





REGISTERED NUMBER: 03268068 (England and Wales)





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

CREIGIAU TRAVEL LIMITED (REGISTERED NUMBER: 03268068)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 1,355,378 1,133,308

CURRENT ASSETS
Stocks 21,200 19,600
Debtors 5 668,279 74,768
Cash at bank and in hand 178,688 395,806
868,167 490,174
CREDITORS
Amounts falling due within one year 6 460,539 310,969
NET CURRENT ASSETS 407,628 179,205
TOTAL ASSETS LESS CURRENT LIABILITIES 1,763,006 1,312,513

CREDITORS
Amounts falling due after more than one year 7 (336,221 ) (24,905 )

PROVISIONS FOR LIABILITIES (336,298 ) (257,421 )
NET ASSETS 1,090,487 1,030,187

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 8,680 25,783
Retained earnings 1,081,707 1,004,304
1,090,487 1,030,187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

CREIGIAU TRAVEL LIMITED (REGISTERED NUMBER: 03268068)

BALANCE SHEET - continued
31 AUGUST 2024


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 25 March 2025 and were signed on its behalf by:




Mrs LA Matthews - Director Mr S M Matthews - Director




Mr RM Matthews - Director


CREIGIAU TRAVEL LIMITED (REGISTERED NUMBER: 03268068)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Creigiau 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.

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 as modified by the revaluation of certain assets.

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.
Improvements to property - in accordance with the property
Plant and machinery - at varying rates on cost
Motor vehicles - at variable rates on reducing balance

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

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

CREIGIAU TRAVEL LIMITED (REGISTERED NUMBER: 03268068)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 61 (2023 - 66 ) .

4. TANGIBLE FIXED ASSETS
Improvements Plant and Motor
to property machinery vehicles Totals
£ £ £ £
COST OR VALUATION
At 1 September 2023 109,469 101,793 2,567,841 2,779,103
Additions - 29,540 486,199 515,739
Disposals - (16,158 ) (743,034 ) (759,192 )
At 31 August 2024 109,469 115,175 2,311,006 2,535,650
DEPRECIATION
At 1 September 2023 68,274 77,057 1,500,464 1,645,795
Charge for year 5,133 14,530 119,695 139,358
Eliminated on disposal - (15,139 ) (589,742 ) (604,881 )
At 31 August 2024 73,407 76,448 1,030,417 1,180,272
NET BOOK VALUE
At 31 August 2024 36,062 38,727 1,280,589 1,355,378
At 31 August 2023 41,195 24,736 1,067,377 1,133,308

Cost or valuation at 31 August 2024 is represented by:

Improvements Plant and Motor
to property machinery vehicles Totals
£ £ £ £
Valuation in 2014 - - 49,280 49,280
Cost 109,469 115,175 2,261,726 2,486,370
109,469 115,175 2,311,006 2,535,650

If motor vehicles had not been revalued they would have been included at the following historical cost:

2024 2023
£ £
Cost 2,261,725 2,438,377
Aggregate depreciation 989,817 1,396,937

Motor vehicles were valued on an open market basis on 31 August 2014 by the company directors .

CREIGIAU TRAVEL LIMITED (REGISTERED NUMBER: 03268068)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST OR VALUATION
At 1 September 2023 655,000
Additions 447,000
Transfer to ownership (380,000 )
At 31 August 2024 722,000
DEPRECIATION
At 1 September 2023 287,402
Charge for year 13,971
Transfer to ownership (180,415 )
At 31 August 2024 120,958
NET BOOK VALUE
At 31 August 2024 601,042
At 31 August 2023 367,598

5. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 56,573 52,025
Other debtors 154,524 22,743
211,097 74,768

Amounts falling due after more than one year:
Amounts owed by group undertakings 457,182 -

Aggregate amounts 668,279 74,768

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 8) 183,270 76,729
Trade creditors 93,258 78,386
Taxation and social security 79,738 128,832
Other creditors 104,273 27,022
460,539 310,969

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 8) 336,221 24,905

CREIGIAU TRAVEL LIMITED (REGISTERED NUMBER: 03268068)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 183,270 76,729
Between one and five years 336,221 24,905
519,491 101,634

Non-cancellable
operating leases
2024 2023
£ £
Within one year 55,450 55,000
Between one and five years - 64,000
55,450 119,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 519,491 101,634

The hire purchase and finance lease liabilities are secured on the specific asset to which the finance relates.

10. RESERVES
Fair value
reserve
£
At 1 September 2023 25,783
Revaluation movement (17,103 )

At 31 August 2024 8,680

11. RELATED PARTY DISCLOSURES

During the financial year, 60% of the company share capital was sold to Creigiau Travel Employee Ownership Trust Limited (EOT). The EOT is considered a related party as it now holds a significant ownership interest in the company. The transaction was completed on 23rd February 2024.

The sale of shares to the EOT was conducted at arm's length and on normal commercial terms. The consideration for the shares was determined based on an independent valuation. The transaction has been disclosed in accordance with the relevant accounting standards and regulations.

The EOT is administered by trustees on behalf of the employees, and the trust holds the legal title to the shares for the benefit of the employees. As a result of this transaction, the company is now majority-owned by the EOT, which holds 60% of the company share capital.

As at the year end Creigiau Travel Limited was owed £457,182 by Creigiau Travel Employee Ownership Trust Limited.