REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
FOR |
PALMAS TRAVEL LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
FOR |
PALMAS TRAVEL LIMITED |
PALMAS TRAVEL LIMITED (REGISTERED NUMBER: 05993677) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 April 2023 to 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PALMAS TRAVEL LIMITED |
COMPANY INFORMATION |
for the Period 1 April 2023 to 30 September 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
36a Station Road |
New Milton |
Hampshire |
BH25 6JX |
PALMAS TRAVEL LIMITED (REGISTERED NUMBER: 05993677) |
BALANCE SHEET |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges her responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
PALMAS TRAVEL LIMITED (REGISTERED NUMBER: 05993677) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 April 2023 to 30 September 2024 |
1. | STATUTORY INFORMATION |
Palmas Travel Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These accounts have been prepared on a going-concern basis notwithstanding the deficit of reserves because it is supported by loans from the director. |
Turnover |
Turnover represents net invoiced sales of services. |
Tangible fixed assets |
Plant and machinery etc | - |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities and include trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
Financial assets are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. |
Employment benefits |
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. |
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received |
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
Provisions |
Provisions (i.e. 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. |
PALMAS TRAVEL LIMITED (REGISTERED NUMBER: 05993677) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 April 2023 to 30 September 2024 |
2. | ACCOUNTING POLICIES - continued |
Government grants accounting policy |
Revenue grants are recognised on an accrual's basis over the periods in which the company recognises the related costs. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Disposals | ( |
) |
At 30 September 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
Eliminated on disposal | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
During the period the director has supported the company by making a loan available. At the period end the loan amounts to 41,307 (2023 - £49,627). |
8. | POST BALANCE SHEET EVENTS |
Due to the continuing losses the director has decided to cease trading on 30th September 2024. |
PALMAS TRAVEL LIMITED (REGISTERED NUMBER: 05993677) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 April 2023 to 30 September 2024 |
9. | ULTIMATE CONTROLLING PARTY |
The company is controlled by Ms. G Palmas by virtue of her 100% holding in the issued voting shares of the company. |