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NEMO TRAVEL LTD

Registered Number
11431952
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

NEMO TRAVEL LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

HARDING, Thomas Edward William
WALES, James

Registered Address

Fbc Clerkenwell
40 Bowling Green Ln
London
EC1R 0NE

Registered Number

11431952 (England and Wales)
NEMO TRAVEL LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets43,1024,668
3,1024,668
Current assets
Debtors5533,311580,967
Cash at bank and on hand235,196261,614
768,507842,581
Creditors amounts falling due within one year6(1,160,987)(846,477)
Net current assets (liabilities)(392,480)(3,896)
Total assets less current liabilities(389,378)772
Creditors amounts falling due after one year7(124,034)(30,959)
Net assets(513,412)(30,187)
Capital and reserves
Called up share capital22
Share premium386,179386,179
Profit and loss account(899,593)(416,368)
Shareholders' funds(513,412)(30,187)
The financial statements were approved and authorised for issue by the Board of Directors on 27 March 2025, and are signed on its behalf by:
HARDING, Thomas Edward William
Director
Registered Company No. 11431952
NEMO TRAVEL LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year118
3.Intangible assets

Total

£
Cost or valuation
At 01 September 2321,466
At 31 August 2421,466
Amortisation and impairment
At 01 September 2321,466
At 31 August 2421,466
Net book value
At 31 August 24-
At 31 August 23-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 237,372
Additions1,055
At 31 August 248,427
Depreciation and impairment
At 01 September 232,704
Charge for year2,621
At 31 August 245,325
Net book value
At 31 August 243,102
At 31 August 234,668
5.Debtors: amounts due within one year

2024

2023

££
Other debtors2,808-
Prepayments and accrued income530,503580,967
Total533,311580,967
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables10,08466,691
Taxation and social security12,88238,993
Payments received on account2,161-
Other creditors1,114,738719,042
Accrued liabilities and deferred income21,12221,751
Total1,160,987846,477
7.Creditors: amounts due after one year

2024

2023

££
Other creditors124,03430,959
Total124,03430,959
8.Related party transactions
As at the reporting date, the company owed £202,486 to the directors of the company. £100,350 is unsecured, interest free and repayable on demand. £100,000 is unsecured and interest bearing at 5% per annum. The loan is repayable in full on the 28th March 2027. As at the reporting date, the total outstanding balance was £102,136, which includes £2,136 of accrued interest.