Registered number
08187275
Horsey Tours Ltd
Filleted Accounts
31 August 2024
Horsey Tours Ltd
Registered number: 08187275
Balance Sheet
as at 31 August 2024
Notes 2024 2023
As restated
£ £
Fixed assets
Tangible assets 4 185,360 145,380
Current assets
Debtors 5 84,264 28,036
Cash at bank and in hand 405,543 443,433
489,807 471,469
Creditors: amounts falling due within one year 6 (226,626) (154,042)
Net current assets 263,181 317,427
Total assets less current liabilities 448,541 462,807
Provisions for liabilities (46,340) (36,345)
Net assets 402,201 426,462
Capital and reserves
Called up share capital 100 100
Profit and loss account 402,101 426,362
Shareholders' funds 402,201 426,462
The directors are 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 directors acknowledge their 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 C G Horsey
Director
Approved by the board on 30 May 2025
Horsey Tours Ltd
Notes to the Accounts
for the year ended 31 August 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 etc 15% reducing balance
Motor vehicles 25% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Prior year adjustment
The accounts have been restated to incorporate the impact of deferred tax on transition to FRS 102. The increase in provisions for liabilities has resulted in profits available for distribution at 31 August 2023 decreasing by £36,345.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 8,280 234,999 243,279
Additions - 101,181 101,181
At 31 August 2024 8,280 336,180 344,460
Depreciation
At 1 September 2023 3,892 94,007 97,899
Charge for the year 658 60,543 61,201
At 31 August 2024 4,550 154,550 159,100
Net book value
At 31 August 2024 3,730 181,630 185,360
At 31 August 2023 4,388 140,992 145,380
5 Debtors 2024 2023
£ £
Trade debtors 30,646 18,604
Other debtors 53,618 9,432
84,264 28,036
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 43,282 30,892
Taxation and social security costs 70,277 29,318
Other creditors 113,067 93,832
226,626 154,042
7 Other information
Horsey Tours Ltd is a private company limited by shares and incorporated in England. Its registered office is:
145-157 St John Street
London
EC1V 4PW
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