All Saints Travel Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04678551 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2023

for

All Saints Travel Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs N Beard

Miss K M Beard

Mrs M J Murkin

SECRETARY:

Mrs N Beard

REGISTERED OFFICE:

50 Pure Offices

Kembrey Business Park

Swindon

Wiltshire

SN2 8BW

REGISTERED NUMBER:

04678551 (England and Wales)

FIXED ASSETS

Intangible assets

5

3,504

4,504

Tangible assets

6

1,422

708

4,926

5,212

CURRENT ASSETS

Debtors

7

269,615

79,876

Cash at bank

718,285

382,996

987,900

462,872

CREDITORS

Amounts falling due within one year

8

582,380

169,059

NET CURRENT ASSETS

405,520

293,813

TOTAL ASSETS LESS CURRENT LIABILITIES

410,446

299,025

PROVISIONS FOR LIABILITIES

356

-

NET ASSETS

410,090

299,025

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Retained earnings

380,090

269,025

SHAREHOLDERS' FUNDS

410,090

299,025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:

Mrs M J Murkin - Director

1.	STATUTORY INFORMATION

All Saints Travel Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention on a going concern basis.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The Company has adopted Section 1A of FRS 102 in these financial statements

Turnover

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services supplied, net of discounts and rebates allowed by the company and value added taxes.

Turnover from the supply of tour services is recognised on the date of commencement of the tour. Where payments are received from a customer in advance of services being provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Intangible assets

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

Intangible assets other than goodwill are being amortised at 20% on a straight line basis in order to write off each asset over its estimated useful life.

Tangible fixed assets

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

Fixtures and fittings

-

20% on straight line basis

Computer equipment

-

33% on straight line basis

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses.

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

Financial instruments

Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans and overdrafts, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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 acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current or deferred taxation assets and liabilities are not discounted.

Current tax

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Deferred tax

Deferred tax arises from timing differences that are differences between taxable profit and total comprehensive income as stated in the financial statements. These 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 recognised on all timing differences at the reporting date except for certain exceptions. 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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits

The company provides a range of benefits to employees, including paid holiday arrangements and defined contribution pension plans.

Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Defined contribution pension plans

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The obligations are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Share capital

Ordinary shares are classified as equity.

Distributions to equity holders

Dividends to the company shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the company's shareholders.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 July 2022

and 30 June 2023

5,000

AMORTISATION

At 1 July 2022

496

Amortisation for year

1,000

At 30 June 2023

1,496

NET BOOK VALUE

At 30 June 2023

3,504

At 30 June 2022

4,504

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2022

2,145

6,659

8,804

Additions

-

1,598

1,598

Disposals

-

(1,923

)

(1,923

)

At 30 June 2023

2,145

6,334

8,479

DEPRECIATION

At 1 July 2022

1,442

6,654

8,096

Charge for year

352

532

884

Eliminated on disposal

-

(1,923

)

(1,923

)

At 30 June 2023

1,794

5,263

7,057

NET BOOK VALUE

At 30 June 2023

351

1,071

1,422

At 30 June 2022

703

5

708

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

1,506

11,890

Prepayments and accrued income

268,109

67,986

269,615

79,876

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

741

2,950

Tax

50,591

-

Social security and other taxes

731

1,052

Other creditors

222

210

Directors' current accounts

3,154

2,805

Accruals and deferred income

526,941

162,042

582,380

169,059

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023

2022

£

£

Within one year

2,958

-

10.	POST BALANCE SHEET EVENTS

The conflict between Gaza and Israel occurring subsequent to the balance sheet date but prior to the approval of these financial statements has had a significant detrimental effect on the company's revenue during the months October and November 2023 (the Israel high season). The end point of the conflict and therefore the exact consequences of this is still unknown, however, it is not expected to have a business critical impact and the directors are confident in the ongoing success of the company due to expansion of the business to other European and Worldwide destinations.