REGISTERED NUMBER: SC094416 (Scotland)

FRASERS TRAVEL LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

F W McCallum

J A McCallum

SECRETARY:

J A McCallum

REGISTERED OFFICE:

7 Dockhead Street

Saltcoats

Ayrshire

KA21 5EF

REGISTERED NUMBER:

SC094416 (Scotland)

ACCOUNTANTS:

JRD Partnership Ltd

Chartered Accountants

11 Portland Road

Kilmarnock

Ayrshire

KA1 2BT

BANKERS:

Bank of Scotland

30/34 King Street

Kilmarnock

KA1 1NP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,099

1,250

1,099

1,250

CURRENT ASSETS

Debtors

6

2,459

40,900

Cash at bank

45,656

18,993

48,115

59,893

CREDITORS

Amounts falling due within one year

7

86,927

97,972

NET CURRENT LIABILITIES

(38,812

)

(38,079

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(37,713

)

(36,829

)

CREDITORS

Amounts falling due after more than one year

8

1,333

9,333

NET LIABILITIES

(39,046

)

(46,162

)

CAPITAL AND RESERVES

Called up share capital

9

37,000

37,000

Retained earnings

(76,046

)

(83,162

)

SHAREHOLDERS' FUNDS

(39,046

)

(46,162

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st October 2025 and were signed on its behalf by:

F W McCallum - Director

1.	STATUTORY INFORMATION

Frasers Travel Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.The financial statements have been prepared under the historical cost convention.

There is a deficit in net assets of £39,046 (2024: £46,162) and also in net current liabilities of £38,812 (2024: £38,079). The directors consider that the going concern basis of accounting is appropriate as they are primarily funding the working capital requirements of the company through their directors' current account which as at 30 April 2025 stood at an amount of £34,900 (2024: £34,900) owed to the directors by the company. The directors have advised they do not seek repayment of their current account in the foreseeable future. In addition, the company has a bank loan and repayments are being made within agreed payment terms.

Turnover

Turnover represents net invoiced sale of travel agency services, excluding value added tax.

Goodwill

Goodwill was written off over its expected useful life of 5 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

10% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The COVID-19 pandemic developed rapidly in 2021 and in coming out of the pandemic there are still impacts. The resulting impact of the virus on the operations and measures taken by various governments to contain the virus have negatively affected the company's results since 2020. The currently known impacts of COVID-19 on the company are:

- Significant drop in demand and revenues in major markets

- Cancellations of holidays by customers due to a drop in consumer confidence and national and regional lockdowns.

These developments together with impacts continuing to be felt post pandemic have contributed to the company reporting a small profit in the current reporting period.

As a result of these matters there is a material uncertainty that may cast significant doubt upon the company's ability to continue as a going concern and therefore whether the company will realise its assets and settle its liabilities in the ordinary course of business at the amounts recorded in the financial statements.

In response to these matters, the entity has taken the following actions:

- successfully applied for and received government Coronavirus support

- consideration of a change in ownership of the company as part of a strategic plan to provide a long term recovery

- share capital has been increased in an earlier reporting period

Revenues and demand in major markets have increased in the reporting period and the directors have also confirmed they do not seek repayment of their current account with the company in the foreseeable future.

Although it is not certain that these efforts will be successful, management has determined that the actions that it has taken are sufficient to mitigate the uncertainty and has therefore prepared the financial reporting on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st May 2024

and 30th April 2025

2,643

AMORTISATION

At 1st May 2024

and 30th April 2025

2,643

NET BOOK VALUE

At 30th April 2025

-

At 30th April 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st May 2024

and 30th April 2025

35,505

DEPRECIATION

At 1st May 2024

34,255

Charge for year

151

At 30th April 2025

34,406

NET BOOK VALUE

At 30th April 2025

1,099

At 30th April 2024

1,250

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,375

39,875

Other debtors

1,084

1,025

2,459

40,900

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

8,000

8,000

Trade creditors

33,120

50,292

Taxation and social security

9,082

2,960

Other creditors

36,725

36,720

86,927

97,972

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,333

9,333

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

37,000

Ordinary

£1

37,000

37,000

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Other creditors includes an amount due to the director of £34,900 (2023: £34,900). There are no set terms of repayment and no interest was charged during the year.