Registered number
07368275
The True Traveller Limited
Filleted Accounts
28 February 2025
The True Traveller Limited
Registered number: 07368275
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 60,417 85,417
Tangible assets 4 55,630 53,412
Investments 5 666 666
116,713 139,495
Current assets
Debtors 6 19,984 19,128
Cash at bank and in hand 3,461,917 2,761,079
3,481,901 2,780,207
Creditors: amounts falling due within one year 7 (1,629,576) (1,466,187)
Net current assets 1,852,325 1,314,020
Total assets less current liabilities 1,969,038 1,453,515
Provisions for liabilities (5,696) (34,708)
Net assets 1,963,342 1,418,807
Capital and reserves
Called up share capital 20,000 20,000
Profit and loss account 1,943,342 1,398,807
Shareholders' funds 1,963,342 1,418,807
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.
T M Riley
Director
Approved by the board on 11 June 2025
The True Traveller Limited
Notes to the Accounts
for the year ended 28 February 2025
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).

The accounts are presented in Sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the net commission and margin earned in respect of the sale of non-life insurance arrangements, net of discounts and value added taxes.

Trade debtors still represent gross amounts receivable and trade creditors still represent gross amounts payable in respect of non-life insurance arrangements.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Intangible Fixed Assets 25% straight line
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:
Leasehold land and buildings over the lease term
Plant and machinery 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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
The company operates a defined contribution scheme for the benefit of its employees. Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 11 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2024 100,000
At 28 February 2025 100,000
Amortisation
At 1 March 2024 14,583
Provided during the year 25,000
At 28 February 2025 39,583
Net book value
At 28 February 2025 60,417
At 29 February 2024 85,417
4 Tangible fixed assets
Leasehold Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2024 59,163 94,625 153,788
Additions 11,658 6,561 18,219
At 28 February 2025 70,821 101,186 172,007
Depreciation
At 1 March 2024 28,919 71,457 100,376
Charge for the year 6,364 9,637 16,001
At 28 February 2025 35,283 81,094 116,377
Net book value
At 28 February 2025 35,538 20,092 55,630
At 29 February 2024 30,244 23,168 53,412
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 March 2024 666
At 28 February 2025 666
6 Debtors 2025 2024
£ £
Other debtors 19,984 19,128
7 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 813,041 712,193
Taxation and social security costs 630,596 523,662
Other creditors 185,939 230,332
1,629,576 1,466,187
8 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 148,125 187,625
9 Related party transactions
In accordance with FRS 102 paragraph 1AC 35, exemption is taken not to disclose transactions in the year between wholly owned group undertakings.
10 Controlling party
In the opinion of the directors there is no one controlling party.
11 Other information
The True Traveller Limited is a private company limited by shares and incorporated in England. Its registered office is:
6 Drakes Courtyard
Kilburn High Road
London
NW6 7JR
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