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REGISTERED NUMBER: 02520178 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Mark One Travel Ltd

Mark One Travel Ltd (Registered number: 02520178)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mark One Travel Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Y Ahmad





REGISTERED OFFICE: 136 The Broadway
Southall
Middlesex
UB1 1QN





REGISTERED NUMBER: 02520178 (England and Wales)





ACCOUNTANTS: ACZONE CONSULTANTS LTD
Interchange House
1st Floor 81- 85
Station Road
Croydon
CR0 2RD

Mark One Travel Ltd (Registered number: 02520178)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 22,400 25,600
Tangible assets 5 81,492 86,138
103,892 111,738

CURRENT ASSETS
Debtors 6 293,852 280,838
Cash at bank 221 21
294,073 280,859
CREDITORS
Amounts falling due within one year 7 31,512 24,820
NET CURRENT ASSETS 262,561 256,039
TOTAL ASSETS LESS CURRENT
LIABILITIES

366,453

367,777

CREDITORS
Amounts falling due after more than
one year

8

(36,025

)

(37,454

)

PROVISIONS FOR LIABILITIES (6,357 ) (6,357 )
NET ASSETS 324,071 323,966

Mark One Travel Ltd (Registered number: 02520178)

Balance Sheet - continued
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100,000 100,000
Retained earnings 224,071 223,966
SHAREHOLDERS' FUNDS 324,071 323,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 November 2023 and were signed by:





Y Ahmad - Director


Mark One Travel Ltd (Registered number: 02520178)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Mark One 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of services, excluding value added tax.

Turnover is recongised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. the company act as an Agent to the airlines and their Principals and income is recognised on the date of booking.

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

Website is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on reducing balance
Plant and machinery etc - 5% on reducing balance

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.


Mark One Travel Ltd (Registered number: 02520178)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

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.

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.

Bank facilities and security
A guarantee, limited to £50,000, has been given by Mr Y Ahmad, director of the company.

The company has an overdraft facility of £20,000 and commercial card facility of £10,000 with HSBC Bank Plc, which is repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

Mark One Travel Ltd (Registered number: 02520178)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2022
and 31 July 2023 32,000
AMORTISATION
At 1 August 2022 6,400
Charge for year 3,200
At 31 July 2023 9,600
NET BOOK VALUE
At 31 July 2023 22,400
At 31 July 2022 25,600

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 39,408 196,528 235,936
DEPRECIATION
At 1 August 2022 32,653 117,145 149,798
Charge for year 676 3,970 4,646
At 31 July 2023 33,329 121,115 154,444
NET BOOK VALUE
At 31 July 2023 6,079 75,413 81,492
At 31 July 2022 6,755 79,383 86,138

Mark One Travel Ltd (Registered number: 02520178)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 18,989 9,630
Other debtors 274,863 271,208
293,852 280,838

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 25,457 23,242
Trade creditors - 192
Taxation and social security 4,953 -
Other creditors 1,102 1,386
31,512 24,820

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans 36,025 37,454

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100,000 Ordinary £1 100,000 100,000

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, Included in other creditors is an amount of £202 (2022: £486) due to director of the company.

11. RELATED PARTY DISCLOSURES

Other debtors balance include amount due from Mark one Travel Holding Ltd £227,470 (2022: £227,470) a parent company, where the director Mr Y Ahmad is also director and shareholder.