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Company registration number:
01868732
Classic Travel of Loughton Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2024
Classic Travel of Loughton Limited
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Tangible assets 5
45,488
 
54,770
 
Current assets    
Debtors 6
305,874
 
194,187
 
Cash at bank and in hand
110,425
 
162,243
 
416,299
 
356,430
 
Creditors: amounts falling due within one year 7
(300,411
)
(249,155
)
Net current assets
115,888
 
107,275
 
Total assets less current liabilities 161,376   162,045  
Provisions for liabilities
(10,245
)
(9,457
)
Net assets
151,131
 
152,588
 
Capital and reserves    
Called up share capital
20,000
 
20,000
 
Profit and loss account
131,131
 
132,588
 
Shareholders funds
151,131
 
152,588
 
For the year ending
31 December 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
20 June 2025
, and are signed on behalf of the board by:
P Holmes
Director
Company registration number:
01868732
Classic Travel of Loughton Limited
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
C/O Brian Paul Limited
,
159a Chase Side
,
Enfield
,
Middlesex
,
EN2 0PW
, United Kingdom. The business address is Pedlars End House, Moreton, Ongar, Essex, CM5 0LW.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Turnover represents revenue from holidays, commission received and other services supplied to customers in the ordinary course of business. Income is recognised on the date of departure.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
25% reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

Rental payments under operating leases are charged against income on a straight-line basis over the lease term.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All difference are taken to the Profit and Loss account.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2024
244,195
 
Additions
319
 
At
31 December 2024
244,514
 
Depreciation  
At
1 January 2024
189,425
 
Charge
9,601
 
At
31 December 2024
199,026
 
Carrying amount  
At
31 December 2024
45,488
 
At 31 December 2023
54,770
 

6 Debtors

20242023
££
Other debtors
305,874
 
194,187
 

7 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
7,997
 
4,055
 
Other creditors
292,414
 
245,100
 
300,411
 
249,155
 

8 Guarantees and other financial commitments

The company has entered under normal commercial arrangements into bonds in favour of ABTA to the maximum value of £32,500 (2023: £32,500).

9 Controlling party

P. Holmes exercises control over the company by virtue of his shareholding.