DOWNE TRAVEL SERVICE LIMITED

Company Registration Number:
NI016055 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 October 2024

Period of accounts

Start date: 01 November 2023

End date: 31 October 2024

DOWNE TRAVEL SERVICE LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2024

Balance sheet
Notes

DOWNE TRAVEL SERVICE LIMITED

Balance sheet

As at 31 October 2024


Notes

2024

2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 73,497 77,680
Total fixed assets: 73,497 77,680
Current assets
Stocks: 2,000 2,000
Debtors:   811,137 734,604
Cash at bank and in hand: 1,037,471 998,236
Total current assets: 1,850,608 1,734,840
Creditors: amounts falling due within one year: 4 (1,334,245) (1,197,576)
Net current assets (liabilities): 516,363 537,264
Total assets less current liabilities: 589,860 614,944
Total net assets (liabilities): 589,860 614,944
Capital and reserves
Called up share capital: 34,525 34,525
Profit and loss account: 555,335 580,419
Shareholders funds: 589,860 614,944

The notes form part of these financial statements

DOWNE TRAVEL SERVICE LIMITED

Balance sheet statements

For the year ending 31 October 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 December 2024
and signed on behalf of the board by:

Name: Paul Gallagher
Status: Director

The notes form part of these financial statements

DOWNE TRAVEL SERVICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

DOWNE TRAVEL SERVICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

2. Employees

2024 2023
Average number of employees during the period 9 11

DOWNE TRAVEL SERVICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Tangible Assets

Total
Cost £
At 01 November 2023 139,296
Additions 8,786
At 31 October 2024 148,082
Depreciation
At 01 November 2023 61,616
Charge for year 12,969
At 31 October 2024 74,585
Net book value
At 31 October 2024 73,497
At 31 October 2023 77,680

DOWNE TRAVEL SERVICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

4. Creditors: amounts falling due within one year note

Trade creditors include credit balances on retail debtor (customer) accounts representing advance payments made by customers in respect of future travel arrangements.

DOWNE TRAVEL SERVICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

5. Loans to directors

Name of director receiving advance or credit: Mrs Marie Gallagher
Description of the loan: Directors advanced loan.
£
Balance at 01 November 2023 15,566
Advances or credits made: 642
Balance at 31 October 2024 16,208

DOWNE TRAVEL SERVICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

6. Related party transactions

Name of the related party: Tullynacree Properties Ltd
Relationship:
Shareholder and director of both companies.
Description of the Transaction: Downe Travel Service Limited rents premises from Tullynacree Properties Ltd, a company owned by Paul Gallagher. The purchase of the premises was funded using a loan to Tullynacree Properties Ltd, a loan which attracts a normal commercial rate of interest, when demanded and is repayable theoretically upon demand. A formal lease is in place. Paul Gallagher is the son of Marie Gallagher who is a director of and 60% shareholder in Downe Travel Service Limited. Paul Gallagher is also a salaried full-time working director of and shareholder in Downe Travel Service Limited. In the year ended 31st October 2024, Downe Travel Service Limited paid rent of £24,000 (2023: £24,000) to Tullynacree Properties Ltd. Interest was charged of £13,048 (2023: £10,627l). At the end of the period £184,147 (2023: £171,099) was owed to the company by Tullynacree Properties Ltd.
£
Balance at 01 November 2023 171,099
Balance at 31 October 2024 184,147