Registered number
08315596
Euroventure Travel Ltd
Filleted Accounts
30 September 2024
Euroventure Travel Ltd
Registered number: 08315596
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 257,875 472,725
Investments 4 (1) 1
257,874 472,726
Current assets
Stocks - 32,143
Debtors 5 47,636 96,101
Cash at bank and in hand 138,579 253,444
186,215 381,688
Creditors: amounts falling due within one year 6 (357,595) (553,855)
Net current liabilities (171,380) (172,167)
Total assets less current liabilities 86,494 300,559
Creditors: amounts falling due after more than one year 7 (57,460) (172,099)
Provisions for liabilities (1,500) (1,688)
Net assets 27,534 126,772
Capital and reserves
Called up share capital 1 1
Profit and loss account 27,533 126,771
Shareholder's funds 27,534 126,772
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Cabra Netherton
Director
Approved by the board on 31 March 2025
Euroventure Travel Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
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).
Turnover
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Motor Vehicles over 5 years
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 32,776 670,239 703,015
Additions 4,482 57,206 61,688
Disposals (1,908) (278,108) (280,016)
At 30 September 2024 35,350 449,337 484,687
Depreciation
At 1 October 2023 23,610 206,680 230,290
Charge for the year 4,353 86,803 91,156
On disposals (1,169) (93,465) (94,634)
At 30 September 2024 26,794 200,018 226,812
Net book value
At 30 September 2024 8,556 249,319 257,875
At 30 September 2023 9,166 463,559 472,725
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 October 2023 (1)
At 30 September 2024 (1)
5 Debtors 2024 2023
£ £
Trade debtors 32,825 56,147
Other debtors 14,811 39,954
47,636 96,101
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 70,737 25,252
Obligations under finance lease and hire purchase contracts 15,559 142,901
Trade creditors 31,108 55,320
Taxation and social security costs 29,462 67,022
Other creditors 210,729 263,360
357,595 553,855
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 45,856 102,980
Obligations under finance lease and hire purchase contracts 11,604 69,119
57,460 172,099
8 Events after the reporting date
The Directors have agreed to fund the business through the next trading period and hence these accounts have been prepared on a going concern basis.
9 Controlling party
On 1st June 2021, the company become a wholly owned subsidiary of Cabra Group Ltd.
10 Other information
Euroventure Travel Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Goat Roadtrip Building
58 Commercial Road
Leeds
LS5 3AQ
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