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REGISTERED NUMBER: SC523175 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TRAVEL YOUR WORLD LIMITED

TRAVEL YOUR WORLD LIMITED (REGISTERED NUMBER: SC523175)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRAVEL YOUR WORLD LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: D Nicholson
B C W Lamond





REGISTERED OFFICE: 43A High Street
Kirkcaldy
Fife
KY1 1LL





REGISTERED NUMBER: SC523175 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Viewforth House
189 Nicol Street
Kirkcaldy
Fife
KY1 1PF

TRAVEL YOUR WORLD LIMITED (REGISTERED NUMBER: SC523175)

BALANCE SHEET
31 December 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,229 29,402

CURRENT ASSETS
Debtors 5 19,475 44,230
Cash at bank 9,678 30,210
29,153 74,440
CREDITORS
Amounts falling due within one year 6 96,843 122,390
NET CURRENT LIABILITIES (67,690 ) (47,950 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(45,461

)

(18,548

)

CREDITORS
Amounts falling due after more than one
year

7

82,011

106,630
NET LIABILITIES (127,472 ) (125,178 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (127,572 ) (125,278 )
(127,472 ) (125,178 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

TRAVEL YOUR WORLD LIMITED (REGISTERED NUMBER: SC523175)

BALANCE SHEET - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:





D Nicholson - Director


TRAVEL YOUR WORLD LIMITED (REGISTERED NUMBER: SC523175)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Travel Your World Limited is a private company, limited by shares , registered in Scotland. 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

At 31 December 2023 the company had net current liabilities of £67,690 (2022 - £47,950). The company relies on the continued support of the directors and connected companies to finance its day to day requirements. The directors consider it appropriate to prepare the financial statements on the going concern basis as they expect this support to continue for the foreseeable future.

TURNOVER
Turnover represents invoiced commissions on the sale of travel packages. Commissions are recognised when earned, net of VAT.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% per annum on cost
Office equipment - 33% per annum on cost

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. The carrying values of tangible fixed assets are reviewed for impairment on an annual basis.

TRAVEL YOUR WORLD LIMITED (REGISTERED NUMBER: SC523175)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows 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 arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently 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 objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
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.

TRAVEL YOUR WORLD LIMITED (REGISTERED NUMBER: SC523175)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Office
property equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 71,012 1,298 72,310
DEPRECIATION
At 1 January 2023 41,824 1,084 42,908
Charge for year 7,102 71 7,173
At 31 December 2023 48,926 1,155 50,081
NET BOOK VALUE
At 31 December 2023 22,086 143 22,229
At 31 December 2022 29,188 214 29,402

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 14,125 44,230
Other debtors 5,350 -
19,475 44,230

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 9,222 9,931
Trade creditors 1,990 1,158
Taxation and social security 40,614 51,726
Other creditors 45,017 59,575
96,843 122,390

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
as restated
£    £   
Bank loans 19,403 28,630
Taxation and social security 62,608 78,000
82,011 106,630

TRAVEL YOUR WORLD LIMITED (REGISTERED NUMBER: SC523175)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year a loan of £5,350 was advanced to a director. Interest of 2.25% is charged where the loan has exceeded £10,000 and there are no fixed terms of repayment.

9. RELATED PARTY DISCLOSURES

Included in 'Other creditors' is an amount of £177 (2022 - £2,422) due to a director from the company. This loan is interest free and has no fixed terms of repayment.