Company No: 08024936 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	93,394		11,935
		93,394		11,935
Current assets
Stocks		500		515
Debtors	4	370,712		370,193
Cash at bank and in hand		599,791		526,576
		971,003		897,284
Creditors: amounts falling due within one year	5	( 732,863)		( 539,713)
Net current assets		238,140		357,571
Total assets less current liabilities		331,534		369,506
Net assets		331,534		369,506
Capital and reserves
Called-up share capital		30,000		30,000
Profit and loss account		301,534		339,506
Total shareholders' funds		331,534		369,506

For the financial year ending 31 January 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Peter Sommer Travels Ltd (registered number: 08024936) were approved and authorised for issue by the Board of Directors on 27 May 2026. They were signed on its behalf by:

P A Sommer Director

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

Peter Sommer Travels 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 Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is Chippenham House, 102 Monnow Street, Monmouth, NP25 3EQ.

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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

The full value of turnover earned from the provision of tours is recognised where the departure date is within the accounting period. Where the departure date is after the accounting period, the full value of consideration received in advance is recognised within accruals and deferred income.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Goodwill arises on business combinations 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 has been fully amortised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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:

Please note that this year the depreciation of Land and buildings has been amended from 50 years to 10 years straight line as a more realistic representation of the useful life of these assets.

Land and buildings	10 years straight line
Leasehold improvements	15 % reducing balance
Fixtures and fittings	5 years straight line
Office equipment	3 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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	10		9

3. Tangible assets

	Land and buildings		Leasehold improve- ments		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 February 2025	5,542		1,807		9,525		23,936		40,810
Additions	86,973		0		2,292		184		89,449
Disposals	0		0		( 454)		( 3,571)		( 4,025)
At 31 January 2026	92,515		1,807		11,363		20,549		126,234
Accumulated depreciation
At 01 February 2025	34		90		7,578		21,173		28,875
Charge for the financial year	5,663		258		661		1,186		7,768
Disposals	0		0		( 232)		( 3,571)		( 3,803)
At 31 January 2026	5,697		348		8,007		18,788		32,840
Net book value
At 31 January 2026	86,818		1,459		3,356		1,761		93,394
At 31 January 2025	5,508		1,717		1,947		2,763		11,935

4. Debtors

	2026		2025
	£		£
Prepayments	357,280		329,052
VAT recoverable	12,113		11,554
Other debtors	1,319		29,587
	370,712		370,193

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	14,949		51,579
Amounts owed to directors	19,102		15,398
Accruals and deferred income	670,627		444,367
Corporation tax	7,461		2,594
Other taxation and social security	8,067		6,792
Other creditors	12,657		18,983
	732,863		539,713

6. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2026		2025
	£		£
within one year	14,415		18,370
between one and five years	7,527		21,767
Total future minimum lease payments under non-cancellable operating leases	21,942		40,137

The non-cancellable operating lease payments are in relation to business premises and motor vehicles.

7. Related party transactions

Transactions with the entity's directors

Advances

The joint directors loan account is repayable on demand and interest has been charged on overdrawn balances exceeding £10,000 per director at the official HMRC rates.

At 1 February 2025 the balance owed from the directors was £nil. During the year, no advances or repayments were made to or from the directors.

At 1 February 2024 the balance owed from the directors was £17,492. During the year, the company made advances to directors amounting to £12,566 and received repayments of £30,058 leaving a balance due from the directors of £nil.