Gazelle Travel Newcastle Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Gazelle Travel Newcastle Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03574608 . The registered office is 91 Claypath Durham City, Claypath, Durham, DH1 1RG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set our below.

2.2. Going Concern Disclosure

At the time of approving the financial statements, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is seperable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software: 15% reducing balance

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	6 years straight line
Plant & Machinery	15% reducing balance

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

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Gazelle Travel Newcastle Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceabke right to set off the recognised amounts ad there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangment constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are note amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets if the company after deducting all of its liabiltiies.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitues a financing transaction, where the debt instrument is measured at the presnt value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been aquired in the ordinart course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less, if not, they are presented as non-current liabiltiies. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equiity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognsed in the profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Gazelle Travel Newcastle Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.7. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as parr of a the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably commited to terminate the employent of a employee or to provide termination benefits.

2.9. Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.10. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision and future periods where the revision affects both current and future periods.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 6)

4. Intangible Assets

	Other
	£
Cost
As at 1 July 2024	1,306

As at 30 June 2025	1,306

Amortisation
As at 1 July 2024	290
Provided during the period	123

As at 30 June 2025	413

Net Book Value
As at 30 June 2025	893

As at 1 July 2024	1,016

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Gazelle Travel Newcastle Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 July 2024	750	99,260	100,010
Additions	-	719	719
Disposals	-	(31,290 )	(31,290 )

As at 30 June 2025	750	68,689	69,439

Depreciation
As at 1 July 2024	750	96,245	96,995
Provided during the period	-	572	572
Disposals	-	(31,290 )	(31,290 )

As at 30 June 2025	750	65,527	66,277

Net Book Value
As at 30 June 2025	-	3,162	3,162

As at 1 July 2024	-	3,015	3,015

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,000	4,691
Prepayments and accrued income	7,477	2,626
Other debtors	-	25,000

	8,477	32,317

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	131,457	136,291
Corporation tax	10,775	13,167
Other taxes and social security	1,303	1,788
VAT	2,917	5,801
Accruals and deferred income	27,443	21,207
Director's loan account	940	-

	174,835	178,254

The above directors loan of £940 is interest free and repayable on demand.

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Gazelle Travel Newcastle Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

8. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
13,000 Ordinary A shares of £ 1.00 each	13,000	13,000
12,000 Ordinary B shares of £ 1.00 each	12,000	12,000

	25,000	25,000

9. Related Party Transactions

During the year, the company paid Dream PR and Marketing Ltd nil (2024: £9,000) for marketing consultancy costs. Dream PR and Marketing Ltd is a business operated by Anthea Malik, a shareholder and the spouse of a director within the year. A the year end the company owed nil (2024: £nil) to Dream PR and Maketing Ltd.

During the year, the company made sales to Angela Coulthard of nil (2024: £nil), a shareholder and the spouse of a director. At the year end nil (2024 £nil) was owed to Angela Coulthard.

At the year end the company owed £6,940 (2024; £3,000) to director, Nick Coulthard.

During the year, the company purchased tickets at an arms length basis of £228,287 (2024: £1,024,866) from Gazelle Travel Limited, a company under common control.

During the year the company made sales to Gazelle Travel Bradford at an arms length basis of £nil (2024: £3,691) and at the year end the company was owed £nil (2024: £3,691) from Gazelle Travel Limited.

During the year, the company made payments on behald of Claypath Properties Limited, a company under common control, of £6000 (2024: £6,000), At year end, the company was owed £1000 (2024: £1,500) from Claypath Properties Limited.

At the year end, the company was providing loans totalling £nil (£nil 2024) to Claypath Properties Limited, a company under common control. Total amount owed by Claypath Properties Limited at year end was £nil (2024: £nil)

10. BSP outstanding cash sales at year end

BSP outstanding cash sales amount to £83,933 at year end (2024: £23,011)

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		893		1,016
Tangible Assets	5		3,162		3,015

			4,055		4,031
CURRENT ASSETS
Debtors	6	8,477		32,317
Cash at bank and in hand		350,179		304,305

		358,656		336,622
Creditors: Amounts Falling Due Within One Year	7	(174,835 )		(178,254 )

NET CURRENT ASSETS (LIABILITIES)			183,821		158,368

TOTAL ASSETS LESS CURRENT LIABILITIES			187,876		162,399

PROVISIONS FOR LIABILITIES
Deferred Taxation			(771 )		(982 )

NET ASSETS			187,105		161,417

CAPITAL AND RESERVES
Called up share capital	8		25,000		25,000
Capital redemption reserve			22,433		25,000
Profit and Loss Account			139,672		111,417

SHAREHOLDERS' FUNDS			187,105		161,417