REGISTERED NUMBER: |
INCREDIBLE TOURS LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 |
REGISTERED NUMBER: |
INCREDIBLE TOURS LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 |
INCREDIBLE TOURS LIMITED (REGISTERED NUMBER: 09935704) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
INCREDIBLE TOURS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2nd Floor, One Hobbs House, |
Harrovian Business Village |
Bessborough Road |
Harrow |
Middlesex |
HA1 3EX |
INCREDIBLE TOURS LIMITED (REGISTERED NUMBER: 09935704) |
BALANCE SHEET |
30 JUNE 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
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 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
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. |
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 |
INCREDIBLE TOURS LIMITED (REGISTERED NUMBER: 09935704) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2022 |
1. | STATUTORY INFORMATION |
Incredible Tours Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Plant and machinery etc | - |
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. |
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. |
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. |
Cash at bank and in hand |
Cash at bank and in hand is represented by cash in hand and deposits held with financial institutions repayable without penalty or a notice of not less than 24 hour's. |
Going concern |
The Financial Statements have been prepared on a going concern basis, as the directors have confirmed that funds will continue to be made available for the company to meet its day to day commitments for the foreseeable future. The financial statements do not include any adjustments that may result from the withdrawal of this support and the directors are of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
INCREDIBLE TOURS LIMITED (REGISTERED NUMBER: 09935704) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2022 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2021 |
and 30 June 2022 |
DEPRECIATION |
At 1 July 2021 |
Charge for year |
At 30 June 2022 |
NET BOOK VALUE |
At 30 June 2022 |
At 30 June 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
Other creditors comprise of Directors Loan Accounts, of which £106,000 have been subordinated by way of three Deeds of Subordination. The first subordination was dated on 30 November 2016 for £25,000, the second dated on 5 March 2018 for £10,000 and the third dated on 15 January 2020 for £71,000. All Deeds of subordination have been drawn up in favour of the Civil Aviation Authority. |
Moreover, the Directors have been confirmed that they will not withdraw the loans without the written consent of the Civil Aviation Authority. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary A Shares | £1 | 10 | 10 |
Ordinary B Shares | £1 | 10 | 10 |
20 | 20 |
All Shares rank pari passu in all respects. |
INCREDIBLE TOURS LIMITED (REGISTERED NUMBER: 09935704) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2022 |
9. | RELATED PARTY DISCLOSURES |
At the year-end date, included within other creditors, amounts falling due after more than one year is an amount of £128,065 (2021: £125,686) owed jointly to the directors, Mr J Shah and Mrs S Shah. |
This amount is unsecured, interest free and repayable on demand. |
10. | ULTIMATE CONTROLLING PARTY |
The Ultimate Controlling Parties are J Shah and Mrs S Shah. |