Registered number
02908433
Study Travel Limited
Filleted Accounts
30 November 2024
Study Travel Limited
Registered number: 02908433
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 5,900,000 5,900,000
Tangible assets 4 15,528 13,746
5,915,528 5,913,746
Current assets
Debtors 5 1,466,802 1,237,179
Investments held as current assets 6 180,488 168,257
Cash at bank and in hand 4,879,252 4,019,729
6,526,542 5,425,165
Creditors: amounts falling due within one year 7 (3,668,804) (3,044,284)
Net current assets 2,857,738 2,380,881
Net assets 8,773,266 8,294,627
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 5,795,839 5,795,839
Profit and loss account 2,977,327 2,498,688
Shareholders' funds 8,773,266 8,294,627
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.
Mr S F Wade
Director
Approved by the board on 28 August 2025
Study Travel Limited
Notes to the Accounts
for the year ended 30 November 2024
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Fixtures, fittings, tools and equipment 20% of the balance remaining after disposals,
additions and previous years' depreciation.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 26 25
3 Intangible fixed assets £
Intellectual property
Cost
At 1 December 2023 5,900,000
At 30 November 2024 5,900,000
Amortisation
At 30 November 2024 -
Net book value
At 30 November 2024 5,900,000
At 30 November 2023 5,900,000
Software development costs are to be written off in equal annual instalments over its estimated economic life of 10 years when the development is fully completed and sales commence.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 48,918
Additions 5,664
At 30 November 2024 54,582
Depreciation
At 1 December 2023 35,172
Charge for the year 3,882
At 30 November 2024 39,054
Net book value
At 30 November 2024 15,528
At 30 November 2023 13,746
5 Debtors 2024 2023
£ £
Trade debtors 1,295,147 957,182
Customs & Excise - 17,921
Other debtors 171,655 262,076
1,466,802 1,237,179
6 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 180,488 168,257
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 12,231 (15,698)
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 172,941 158,685
Taxation and social security costs 284,272 194,154
Other creditors 3,211,591 2,691,445
3,668,804 3,044,284
8 Revaluation reserve 2024 2023
£ £
At 1 December 2023 5,795,839 5,795,839
At 30 November 2024 5,795,839 5,795,839
9 Loans to directors
Description and conditions
Owed to the director at 1 December 2023 Drawn by the director during the year Repaid by the director during the year Owed to the director at 30 November 2024
£ £ £ £
Mr S R Roberts
Current account - 143,160 143,160 -
Mr S F Wade
Current account - 239,160 239,160 -
- 382,320 382,320 -
10 Controlling party
Mr S F Wade, director, controls the company.
11 Other information
Study Travel Limited is a private company limited by shares and incorporated in England. Its registered office is:
International House
142 Cromwell Road
South Kensington
London SW7 4EF
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