The Inspirational Travel Company Limited Filleted Accounts Cover |
Company No. 06032680 | |||||||||
The Inspirational Travel Company Limited Directors Report Registrar |
The Director presents his report and the accounts for the year ended 31 December 2022. | |||||||||
Principal activities | |||||||||
As previously reported, international travel was severely restricted due to Covid 19 between March 2020 and November 2021 and the company had to defer or cancel all trips planned for clients in this period. With some support from the Coronavirus Job Retention Scheme the company was able to close down the vast majority of its business and retain key staff, but nevertheless the company incurred significant losses in 2020 and 2021 and had negative net assets as at 31 December 2021. With additional financial support from the director and a bounce back loan, the company was able to continue until international travel restrictions were lifted and the Director is pleased to report a very strong recovery in business this year and a strong order book going into 2023. | |||||||||
Director | |||||||||
The Director who served at any time during the year was as follows: | |||||||||
N.G. Matthews | |||||||||
Signed on behalf of the board | |||||||||
N.G. Matthews | |||||||||
Director | |||||||||
31 July 2023 |
The Inspirational Travel Company Limited Balance Sheet Registrar |
at | ||||||||||
Company No. | Notes | 2022 | 2021 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Tangible assets | 4 | |||||||||
Current assets | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | 6 | ( | ( | |||||||
Net current assets/(liabilities) | ( | |||||||||
Total assets less current liabilities | ( | |||||||||
Creditors: Amounts falling due after more than one year | 7 | ( | ( | |||||||
Net assets/(liabilities) | ( | |||||||||
Capital and reserves | ||||||||||
Called up share capital | ||||||||||
Profit and loss account | 8 | ( | ||||||||
Total equity | ( | |||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on 31 July 2023 | ||||||||||
And signed on its behalf by: | ||||||||||
N.G. Matthews | ||||||||||
Director | ||||||||||
31 July 2023 |
The Inspirational Travel Company Limited Notes to the Accounts Registrar |
for the year ended 31 December 2022 | ||||||||||||||
1 | General information | |||||||||||||
Its registered number is: 06032680 | ||||||||||||||
Its registered office is: | ||||||||||||||
Going concern | ||||||||||||||
2 | Accounting policies | |||||||||||||
Turnover | ||||||||||||||
Specifically, revenue from the provision of holidays for customers is only recognised in the Profit & Loss Account when the customer has departed on holiday and legal title is passed. | ||||||||||||||
Tangible fixed assets and depreciation | ||||||||||||||
Furniture, fittings and equipment | ||||||||||||||
Taxation | ||||||||||||||
Income tax expense represents the sum of the tax currently payable. The tax currently payable is based on taxable profit for the year. 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. Current tax for the year is recognised in the Profit & Loss Account. | ||||||||||||||
Trade and other debtors | ||||||||||||||
Trade and other creditors | ||||||||||||||
Foreign currencies | ||||||||||||||
Provisions | ||||||||||||||
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. | ||||||||||||||
3 | Employees | |||||||||||||
2022 | 2021 | |||||||||||||
Number | Number | |||||||||||||
The average monthly number of employees (including directors) during the year was: | ||||||||||||||
4 | Tangible fixed assets | |||||||||||||
Fixtures, fittings and equipment | Total | |||||||||||||
£ | £ | |||||||||||||
Cost or revaluation | ||||||||||||||
At 1 January 2022 | ||||||||||||||
At 31 December 2022 | ||||||||||||||
Depreciation | ||||||||||||||
At 1 January 2022 | ||||||||||||||
Charge for the year | ||||||||||||||
At 31 December 2022 | ||||||||||||||
Net book values | ||||||||||||||
At 31 December 2022 | ||||||||||||||
At 31 December 2021 | ||||||||||||||
5 | Debtors | |||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Trade debtors | ||||||||||||||
Corporation tax recoverable | ||||||||||||||
Loans to directors | ||||||||||||||
Other debtors | ||||||||||||||
Prepayments and accrued income | ||||||||||||||
6 | Creditors: | |||||||||||||
amounts falling due within one year | ||||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Corporation tax | ||||||||||||||
Other taxes and social security | ||||||||||||||
Accruals and deferred income | ||||||||||||||
7 | Creditors: | |||||||||||||
amounts falling due after more than one year | ||||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Bank loans and overdrafts | ||||||||||||||
8 | Reserves | |||||||||||||
9 | Dividends | |||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Dividends for the period: | ||||||||||||||
Dividends paid in the period | 3,000 | - | ||||||||||||
- | ||||||||||||||
Dividends by type: | ||||||||||||||
Equity dividends | ||||||||||||||
3,000 | - | |||||||||||||