Registered number
08719038
Youngs Travel Ltd
Filleted Accounts
for the year ended 30 September 2024
Youngs Travel Ltd
Registered number: 08719038
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 7,200 8,000
Tangible assets 4 18,015 861
25,215 8,861
Current assets
Debtors 5 - 19,300
Cash at bank and in hand 77,918 116,278
77,918 135,578
Creditors: amounts falling due within one year 6 (97,015) (135,139)
Net current (liabilities)/assets (19,097) 439
Total assets less current liabilities 6,118 9,300
Creditors: amounts falling due after more than one year 7 (27,001) (37,072)
Net liabilities (20,883) (27,772)
Capital and reserves
Called up share capital 25,000 25,000
Profit and loss account (45,883) (52,772)
Shareholders' funds (20,883) (27,772)
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 members have 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 Roshan Sharma
Director
Approved by the board on 21 May 2025
Youngs 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 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 20% reducing balances
Fixtures, fittings, tools and equipment 20% reducing balances
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.
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 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 16,000
At 30 September 2024 16,000
Amortisation
At 1 October 2023 8,000
Provided during the year 800
At 30 September 2024 8,800
Net book value
At 30 September 2024 7,200
At 30 September 2023 8,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 4,589 - 4,589
Additions - 21,658 21,658
At 30 September 2024 4,589 21,658 26,247
Depreciation
At 1 October 2023 3,728 - 3,728
Charge for the year 172 4,332 4,504
At 30 September 2024 3,900 4,332 8,232
Net book value
At 30 September 2024 689 17,326 18,015
At 30 September 2023 861 - 861
5 Debtors 2024 2023
£ £
Amount receivable - 19,300
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 14,516 19,183
Trade creditors 79,550 112,890
Pension 99 124
Taxation and social security costs 2,765 2,063
Other creditors 85 879
97,015 135,139
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 26,947 36,918
Other creditors 54 154
27,001 37,072
8 Other information
Youngs Travel Ltd is a private company limited by shares and incorporated in England. Its registered office is:
31 The Broadway
Elm Park
Hornchurch
Essex
RM12 4RN
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