Dragoman Overseas Travel Limited - Accounts to registrar (filleted) - small 23.2.5
Dragoman Overseas Travel Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2023 |
| for |
| Dragoman Overseas Travel Limited |
| Dragoman Overseas Travel Limited (Registered number: 02732524) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Dragoman Overseas Travel Limited |
| Company Information |
| for the Year Ended 31 December 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 5 Church Street |
| Framlingham |
| Woodbridge |
| Suffolk |
| IP13 9BQ |
| Dragoman Overseas Travel Limited (Registered number: 02732524) |
| Balance Sheet |
| 31 December 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Undistribuable Revaluation |
| Reserve | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Dragoman Overseas Travel Limited (Registered number: 02732524) |
| Balance Sheet - continued |
| 31 December 2023 |
| 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 |
| Dragoman Overseas Travel Limited (Registered number: 02732524) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2023 |
| 1. | STATUTORY INFORMATION |
| Dragoman Overseas Travel Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Dragoman is no longer trading as a tour operator but has changed to become a property developer. We are therefore currently securing and maximising all of our assets and ensuring that the company is in a position to have a secure future for trading within the property sector going forward. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| The Company has adopted a policy of revaluing it's Freehold Property in accordance with the provisions of FRS 102 section 1a. As a result, the director's consider that Freehold Properties are shown at fair value. |
| Freehold properties are therefore not depreciated but are subject to regular revaluations and impairment reviews by the directors who will instruct independent valuations if needed. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| Dragoman Overseas Travel Limited (Registered number: 02732524) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| Forward currency contracts and other financial instruments are recognised at fair value on initial recognition. Fair value movements on forward contracts held at the balance sheet date are recognised in profit or loss. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2023 |
| Disposals | ( |
) |
| At 31 December 2023 |
| DEPRECIATION |
| At 1 January 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2023 |
| NET BOOK VALUE |
| At 31 December 2023 |
| At 31 December 2022 |
| Dragoman Overseas Travel Limited (Registered number: 02732524) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2023 |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 December 2023 |
| DEPRECIATION |
| At 1 January 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 December 2023 |
| NET BOOK VALUE |
| At 31 December 2023 |
| At 31 December 2022 |
| Cost or valuation at 31 December 2023 is represented by: |
| Improvements |
| Freehold | to | Plant and | Motor |
| property | property | machinery | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2023 | 477,631 | - | - | - | 477,631 |
| Cost | 147,369 | 61,020 | 7,971 | 401,434 | 617,794 |
| 625,000 | 61,020 | 7,971 | 401,434 | 1,095,425 |
| If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
| 2023 | 2022 |
| £ | £ |
| Cost | 147,369 | 147,369 |
| Freehold land and buildings were valued on an open market basis on 20 February 2024 by Clarke & Simpson Chartered Surveyors . |
| Dragoman Overseas Travel Limited (Registered number: 02732524) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Tax |
| VAT |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Trade creditors |
| Tax |
| VAT | 18,613 | - |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans (see note 8) |
| Other loans (see note 8) |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2023 | 2022 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Dragoman Travel Limited | 209,593 | 209,593 |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Dragoman Overseas Travel Limited (Registered number: 02732524) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 9. | PROVISIONS FOR LIABILITIES |
| 2023 | 2022 |
| £ | £ |
| Deferred tax | 24,987 | 24,987 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2023 |
| Balance at 31 December 2023 |
| 10. | RESERVES |
| Undistribuable |
| Revaluation |
| Reserve |
| £ |
| At 1 January 2023 |
| and 31 December 2023 |