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Company No: 04029851 (England and Wales)

TRAVELREST LTD

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

TRAVELREST LTD

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

TRAVELREST LTD

BALANCE SHEET

As at 31 March 2025
TRAVELREST LTD

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 4 1,519,342 1,508,973
Investments 5 0 37,735
1,519,342 1,546,708
Current assets
Stocks 6 0 750
Debtors 7 21,966 9,884
Cash at bank and in hand 8 37,064 72,459
59,030 83,093
Creditors: amounts falling due within one year 9 ( 303,530) ( 212,106)
Net current liabilities (244,500) (129,013)
Total assets less current liabilities 1,274,842 1,417,695
Creditors: amounts falling due after more than one year 10 ( 205,867) ( 216,613)
Provision for liabilities 60,953 50,167
Net assets 1,129,928 1,251,249
Capital and reserves
Called-up share capital 12 1 1
Profit and loss account 1,129,927 1,251,248
Total shareholder's funds 1,129,928 1,251,249

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of TravelRest Ltd (registered number: 04029851) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

I R S Hall
Director

29 August 2025

TRAVELREST LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
TRAVELREST LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

TravelRest Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 The Avenue , Fareham, PO14 1NS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 20 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Fixtures and fittings 25 % reducing balance
Office equipment 33.33 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 8

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2024 20,000 20,000
At 31 March 2025 20,000 20,000
Accumulated amortisation
At 01 April 2024 20,000 20,000
At 31 March 2025 20,000 20,000
Net book value
At 31 March 2025 0 0
At 31 March 2024 0 0

4. Tangible assets

Land and buildings Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 April 2024 1,860,129 9,954 30,694 1,900,777
Additions 46,583 3,586 0 50,169
Disposals 0 ( 9,954) ( 30,694) ( 40,648)
At 31 March 2025 1,906,712 3,586 0 1,910,298
Accumulated depreciation
At 01 April 2024 352,689 8,645 30,470 391,804
Charge for the financial year 38,118 367 224 38,709
Disposals 0 ( 8,863) ( 30,694) ( 39,557)
At 31 March 2025 390,807 149 0 390,956
Net book value
At 31 March 2025 1,515,905 3,437 0 1,519,342
At 31 March 2024 1,507,440 1,309 224 1,508,973

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 April 2024 37,735 37,735
Disposals ( 37,735) ( 37,735)
At 31 March 2025 0 0
Carrying value at 31 March 2025 0 0
Carrying value at 31 March 2024 37,735 37,735

6. Stocks

2025 2024
£ £
Stocks 0 750

7. Debtors

2025 2024
£ £
Prepayments 18,372 9,607
VAT recoverable 3,594 0
Other debtors 0 277
21,966 9,884

8. Cash and cash equivalents

2025 2024
£ £
Cash at bank and in hand 37,064 72,459

9. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans (secured) 16,804 10,000
Trade creditors 22,183 12,102
Amounts owed to directors (note 14) 250,656 179,556
Accruals and deferred income 4,821 5,928
Other taxation and social security 62 4,208
Obligations under finance leases and hire purchase contracts 8,800 0
Other creditors 204 312
303,530 212,106

Bank loans are secured by a fixed charge over the property and a floating charge over the Company.

10. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans (secured) 0 16,613
Amounts owed to directors (note 14) 200,000 200,000
Obligations under finance leases and hire purchase contracts 5,867 0
205,867 216,613

Bank loans are secured by a fixed charge over the property and a floating charge over the Company.

11. Deferred tax

2025 2024
£ £
At the beginning of financial year 50,167 36,541
Credited to the Profit and Loss Account 10,786 13,626
At the end of financial year 60,953 50,167

12. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

13. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2025 2024
£ £
Unpaid contributions due to the fund (inc. in other creditors) 0 312

14. Related party transactions

Transactions with the entity’s directors (or members of its governing body)

Amounts owed to directors

2025 2024
£ £
Directors loan account 450,656 379,556

Interest was charged on this balance totalling £17,800 (2024: £14,400)