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REGISTERED NUMBER: 05147675 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

SUPREME WORLD TRAVEL LIMITED

SUPREME WORLD TRAVEL LIMITED (REGISTERED NUMBER: 05147675)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SUPREME WORLD TRAVEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr Basi Aidarus Mohamed





SECRETARY: Mr Basi Aidarus Mohamed





REGISTERED OFFICE: 467 - 469 High Road Leyton
London
E10 5EL





REGISTERED NUMBER: 05147675 (England and Wales)





AUDITORS: Ashford Louis
Chartered Certified Accountants
& Statutory Auditors
187 High Road Leyton
London
E15 2BY

SUPREME WORLD TRAVEL LIMITED (REGISTERED NUMBER: 05147675)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 508,437 546,527

CURRENT ASSETS
Debtors 5 437,763 341,980
Cash at bank and in hand 235,570 272,817
673,333 614,797
CREDITORS
Amounts falling due within one year 6 556,569 476,636
NET CURRENT ASSETS 116,764 138,161
TOTAL ASSETS LESS CURRENT
LIABILITIES

625,201

684,688

CREDITORS
Amounts falling due after more than one
year

7

(272,687

)

(320,209

)

PROVISIONS FOR LIABILITIES (413 ) (413 )
NET ASSETS 352,101 364,066

CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Retained earnings 10 302,101 314,066
SHAREHOLDERS' FUNDS 352,101 364,066

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 26 September 2023 and were signed by:





Mr Basi Aidarus Mohamed - Director


SUPREME WORLD TRAVEL LIMITED (REGISTERED NUMBER: 05147675)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Supreme World Travel Limited 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 represents net invoiced sales of services, excluding value added tax. The total turnover of the company for the year has been derived from the provision of goods and services falling within the company's principal activities. Income is from sales of packages are recognised on the date of departure basis and income from sales of flight only tickets are recognised on booking basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 15% on reducing balance

Financial instruments
The company only enters into basic financial instrument transitions that results in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties, loans to relate to parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year) including loans and other accounts receivables and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest rate method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or order consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at the market rates of interest for a similar debt instrument and subsequently at amortised cost, unless it quantifies as a loan from a director in the case of a small company or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the assets if it were to be sold at the reporting date.

Financial assets and liabilities are offsets and the net amount reported in the Statement of Financial Position where there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the assets and settle the liability simultaneously.


SUPREME WORLD TRAVEL LIMITED (REGISTERED NUMBER: 05147675)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Going concern
The Company meets its day to day working capital requirements and has significant cash reserves at year end. The company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Company should be able to operate without the need for external facilities for the foreseeable future.

Even with the coronavirus having a huge impact on human society and the economy with the travel and tour industry sustaining one of the heaviest impact, the Directors have a reasonable expectation and are optimistic that with the healthy financial position of the company coupled with the numerous business support schemes introduced by the Government, the company will continue in operational existence for the next foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

SUPREME WORLD TRAVEL LIMITED (REGISTERED NUMBER: 05147675)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Freehold Motor Computer
property vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 538,262 62,145 22,150 622,557
Disposals - (62,145 ) - (62,145 )
At 31 March 2023 538,262 - 22,150 560,412
DEPRECIATION
At 1 April 2022 23,060 34,984 17,986 76,030
Charge for year 10,304 - 625 10,929
Eliminated on disposal - (34,984 ) - (34,984 )
At 31 March 2023 33,364 - 18,611 51,975
NET BOOK VALUE
At 31 March 2023 504,898 - 3,539 508,437
At 31 March 2022 515,202 27,161 4,164 546,527

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 62,145
Transfer to ownership (62,145 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 34,984
Transfer to ownership (34,984 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 27,161

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 340,170 244,387
Other debtors 97,593 97,593
437,763 341,980

SUPREME WORLD TRAVEL LIMITED (REGISTERED NUMBER: 05147675)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 79,812 74,541
Hire purchase contracts - 3,758
Trade creditors 207,762 197,540
Taxation and social security 165,681 155,074
Other creditors 103,314 45,723
556,569 476,636

BSP OUTSTANDING

As at 31 March 2023 an amount of £70,814 (2022 : £179,828) was payable to International Air Transport Association (IATA) for tickets issued in the mouth of March 2023. This amount is included in the Trade Creditors figure above.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 272,687 286,037
Hire purchase contracts - 34,172
272,687 320,209

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 352,499 360,578

The Lloyds Bank has Debenture dated 08/10/2010 incorporating a Fixed and floating charge.

A first legal charge over Commercial Freehold Property known as 436 High Road Leyton, London E10 6QE dated 28/04/2017. A first legal charge over cash at bank account (A/C 28477460) dated 22/01/2012. The Bank also has first legal charge over other assets known as: Deposit Agreement dated 27/05/2008; PODL dated 31/03/2017 and Postpondment of Directors Loans darted 10/09/2010.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
50,000 Ordinary 1 50,000 50,000

SUPREME WORLD TRAVEL LIMITED (REGISTERED NUMBER: 05147675)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. RESERVES
Retained
earnings
£   

At 1 April 2022 314,066
Profit for the year 29,535
Dividends (41,500 )
At 31 March 2023 302,101

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hayford Doh FCCA (Senior Statutory Auditor)
for and on behalf of Ashford Louis

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mr Basi Aidarus Mohamed
Balance outstanding at start of year 73,655 73,655
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 73,655

During the year, the company paid dividends totalling £41,500 (2022 : £16,265) to the shareholders.

13. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.