Company Registration No. NI068997 (Northern Ireland)
Travel Ireland Coach Tours Ltd
Unaudited accounts
for the year ended 31 December 2024
Travel Ireland Coach Tours Ltd
Unaudited accounts
Contents
Travel Ireland Coach Tours Ltd
Company Information
for the year ended 31 December 2024
Directors
Paul Cunningham
Mark Kelly
Thomas Patrick Muldoon
Gerard Slane
Sean Slane
Company Number
NI068997 (Northern Ireland)
Registered Office
10 Great Victoria Street
Belfast
Antrim
BT2 7BA
United Kingdom
Accountants
PGR Chartered Accountants
Unit 2 Channel Wharf
21 Old Channel Road
Belfast
Antrim
BT3 9DE
Travel Ireland Coach Tours Ltd
Statement of financial position
as at 31 December 2024
Intangible assets
35,945
44,932
Tangible assets
844,575
893,266
Creditors: amounts falling due within one year
(1,068,065)
(936,513)
Net current liabilities
(809,112)
(797,503)
Total assets less current liabilities
86,433
140,720
Creditors: amounts falling due after more than one year
(170,324)
(262,736)
Net liabilities
(83,891)
(122,016)
Called up share capital
70,000
70,000
Capital contribution reserve
2,000
2,000
Profit and loss account
(155,891)
(194,016)
Shareholders' funds
(83,891)
(122,016)
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. 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by
Paul Cunningham
Director
Company Registration No. NI068997
Travel Ireland Coach Tours Ltd
Notes to the Accounts
for the year ended 31 December 2024
Travel Ireland Coach Tours Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI068997. The registered office is 10 Great Victoria Street, Belfast, Antrim, BT2 7BA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Whilst the business continues to recover following the COVID-19 pandemic and the resulting travel restrictions imposed by Government, the directors acknowledge that the business continues to place significant reliance on its bank loans and overdraft, credit facilities and finance lease providers.
Having reviewed the resources available, the directors believe that Travel Ireland Coach Tours Ltd has sufficient resources available to enable it to continue in operation for a least a period of 12 months from the date of approval of the financial statements. Accordingly, Travel Ireland Coach Tours Ltd continues to adopt the going concern basis in preparation of its financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from coach hire and tour operator 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% straight line
Fixtures & fittings
20% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation is applied at 10% straight line.
Travel Ireland Coach Tours Ltd
Notes to the Accounts
for the year ended 31 December 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The prior year has been restated to correctly transfer the revaluation reserve to the profit and loss account. The revaluation reserve arose in a previous year following a change in accounting estimate and useful life of motor vehicle assets. The net assets of the company remain unchanged.
4
Intangible fixed assets
Goodwill
At 31 December 2024
89,867
At 31 December 2024
53,922
At 31 December 2024
35,945
At 31 December 2023
44,932
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2024
1,653,891
51,808
1,705,699
Additions
224,850
413
225,263
Disposals
(242,500)
-
(242,500)
At 31 December 2024
1,636,241
52,221
1,688,462
At 1 January 2024
767,676
44,757
812,433
Charge for the year
171,000
4,231
175,231
On disposals
(143,777)
-
(143,777)
At 31 December 2024
794,899
48,988
843,887
At 31 December 2024
841,342
3,233
844,575
At 31 December 2023
886,215
7,051
893,266
Travel Ireland Coach Tours Ltd
Notes to the Accounts
for the year ended 31 December 2024
6
Investments
Other investments
Valuation at 1 January 2024
25
Valuation at 31 December 2024
15,025
Finished goods
7,690
4,800
Amounts falling due within one year
Trade debtors
146,045
124,062
Accrued income and prepayments
8,842
5,568
9
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
69,274
35,479
Obligations under finance leases and hire purchase contracts
164,315
225,195
Trade creditors
69,556
172,933
Amounts owed to group undertakings and other participating interests
695,270
415,525
Taxes and social security
3,967
34,195
Other creditors
3,213
2,921
Loans from directors
6,070
21,080
Bank loans and overdrafts are secured by way of floating charge over the company assets.
10
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
142,186
228,176
Travel Ireland Coach Tours Ltd
Notes to the Accounts
for the year ended 31 December 2024
Allotted, called up and fully paid:
70 Ordinary shares of £1,000 each
70,000
70,000
12
Transactions with related parties
Creditors includes £620,278 of amounts owed to connected companies (2023: £415,525 ). All amounts due are unsecured, interest free and repayable on demand.
13
Average number of employees
During the year the average number of employees was 24 (2023: 12).