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REGISTERED NUMBER: 02732524 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Dragoman Overseas Travel Limited

Dragoman Overseas Travel Limited (Registered number: 02732524)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dragoman Overseas Travel Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr C H K Hopkinson
Mr G Durie
Mr G B Manchester





SECRETARY: Mr C H K Hopkinson





REGISTERED OFFICE: Camp Green
Kenton Road
Debenham
Stowmarket
Suffolk
IP14 6LA





REGISTERED NUMBER: 02732524 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

Dragoman Overseas Travel Limited (Registered number: 02732524)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 632,302 652,094

CURRENT ASSETS
Stocks - 2,216
Debtors 5 33,898 115,231
Cash at bank and in hand 335,150 473,650
369,048 591,097
CREDITORS
Amounts falling due within one year 6 17,898 120,454
NET CURRENT ASSETS 351,150 470,643
TOTAL ASSETS LESS CURRENT
LIABILITIES

983,452

1,122,737

CREDITORS
Amounts falling due after more than one
year

7

(209,593

)

(301,260

)

PROVISIONS FOR LIABILITIES 9 (95,537 ) (24,987 )
NET ASSETS 678,322 796,490

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Undistribuable Revaluation
Reserve 10 383,681 477,631
Retained earnings 264,641 288,859
SHAREHOLDERS' FUNDS 678,322 796,490

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

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

Dragoman Overseas Travel Limited (Registered number: 02732524)

Balance Sheet - continued
31 December 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 April 2025 and were signed on its behalf by:




Mr G Durie - Director



Mr C H K Hopkinson - Director


Dragoman Overseas Travel Limited (Registered number: 02732524)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Dragoman Overseas 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
Dragoman is no longer trading as a tour operator but has changed to become a property developer. We are therefore currently securing and maximising all of our assets and ensuring that the company is in a position to have a secure future for trading within the property sector going forward.

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.
Freehold property - not provided
Improvements to property - 5% on cost
Plant and machinery - 25% on cost
Motor vehicles - 25% on reducing balance and 10% on reducing balance

The Company has adopted a policy of revaluing it's Freehold Property in accordance with the provisions of FRS 102 section 1a. As a result, the director's consider that Freehold Properties are shown at fair value.

Freehold properties are therefore not depreciated but are subject to regular revaluations and impairment reviews by the directors who will instruct independent valuations if needed.

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.


Dragoman Overseas Travel Limited (Registered number: 02732524)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Forward currency contracts and other financial instruments are recognised at fair value on initial recognition. Fair value movements on forward contracts held at the balance sheet date are recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2024 625,000 61,020 7,971 401,434 1,095,425
Disposals - (61,020 ) (7,971 ) (328,851 ) (397,842 )
At 31 December 2024 625,000 - - 72,583 697,583
DEPRECIATION
At 1 January 2024 - 55,217 7,971 380,143 443,331
Charge for year - - - 5,496 5,496
Eliminated on disposal - (55,217 ) (7,971 ) (320,358 ) (383,546 )
At 31 December 2024 - - - 65,281 65,281
NET BOOK VALUE
At 31 December 2024 625,000 - - 7,302 632,302
At 31 December 2023 625,000 5,803 - 21,291 652,094

Dragoman Overseas Travel Limited (Registered number: 02732524)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2024 is represented by:

Freehold Motor
property vehicles Totals
£    £    £   
Valuation in 2023 477,631 - 477,631
Cost 147,369 72,583 219,952
625,000 72,583 697,583

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 147,369 147,369

Freehold land and buildings were valued on an open market basis on 13 November 2024 by Clarke & Simpson Chartered Surveyors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,775 115,231
Tax 9,123 -
33,898 115,231

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) - 50,000
Trade creditors 1,846 4,579
Tax - 25,855
VAT 2,886 18,613
Accrued expenses 13,166 21,407
17,898 120,454

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) - 91,667
Other loans (see note 8) 209,593 209,593
209,593 301,260

Dragoman Overseas Travel Limited (Registered number: 02732524)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - 50,000

Amounts falling due between one and two years:
Bank loans - 1-2 years - 50,000
Dragoman Travel Limited 209,593 209,593
209,593 259,593

Amounts falling due between two and five years:
Bank loans - 2-5 years - 41,667

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 95,537 24,987

Deferred
tax
£   
Balance at 1 January 2024 24,987
Credit to Income Statement during year (23,400 )
On revalued property 93,950
Balance at 31 December 2024 95,537

10. RESERVES
Undistribuable
Revaluation
Reserve
£   
At 1 January 2024 477,631
Revaluation in year (93,950 )

At 31 December 2024 383,681