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GRAHAMS TRAVEL SERVICE LIMITED

Registered Number
04974966
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

GRAHAMS TRAVEL SERVICE LIMITED
Company Information
for the year from 1 December 2023 to 30 November 2024

Directors

GRAHAM, Ian Alexander
GRAHAM, Lesley

Company Secretary

GRAHAM, Lesley

Registered Address

37 Stainburn Road
Workington
CA14 1SW

Registered Number

04974966 (England and Wales)
GRAHAMS TRAVEL SERVICE LIMITED
Statement of Financial Position
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4101,615102,589
101,615102,589
Current assets
Debtors518,02520,848
Cash at bank and on hand22,49815,721
40,52336,569
Creditors amounts falling due within one year6(47,164)(57,819)
Net current assets (liabilities)(6,641)(21,250)
Total assets less current liabilities94,97481,339
Net assets94,97481,339
Capital and reserves
Called up share capital115,000115,000
Profit and loss account(20,026)(33,661)
Shareholders' funds94,97481,339
The financial statements were approved and authorised for issue by the Board of Directors on 2 May 2025, and are signed on its behalf by:
GRAHAM, Ian Alexander
Director
Registered Company No. 04974966
GRAHAMS TRAVEL SERVICE LIMITED
Notes to the Financial Statements
for the year ended 30 November 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.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings5
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year33
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 December 2346,00046,000
At 30 November 2446,00046,000
Amortisation and impairment
At 01 December 2346,00046,000
At 30 November 2446,00046,000
Net book value
At 30 November 24--
At 30 November 23--
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 December 23100,0006,441106,441
At 30 November 24100,0006,441106,441
Depreciation and impairment
At 01 December 23-3,8523,852
Charge for year-974974
At 30 November 24-4,8264,826
Net book value
At 30 November 24100,0001,615101,615
At 30 November 23100,0002,589102,589
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables17,91117,645
Other debtors1143,203
Total18,02520,848
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables26,19825,765
Bank borrowings and overdrafts14,18029,155
Taxation and social security3,383-
Accrued liabilities and deferred income3,4032,899
Total47,16457,819