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REGISTERED NUMBER: 02870498 (England and Wales)















Financial Statements

for the Year Ended 31 March 2023

for

Diamond Travel Services Limited

Diamond Travel Services Limited (Registered number: 02870498)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


Diamond Travel Services Limited (Registered number: 02870498)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 861 1,013

CURRENT ASSETS
Debtors 5 77,965 48,267
Cash at bank 155,532 187,948
233,497 236,215
CREDITORS
Amounts falling due within one year 6 129,304 97,730
NET CURRENT ASSETS 104,193 138,485
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,054

139,498

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 80,054 114,498
SHAREHOLDERS' FUNDS 105,054 139,498

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 Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:





Mr Sukhvir Singh Manku - Director


Diamond Travel Services Limited (Registered number: 02870498)

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

1. STATUTORY INFORMATION

Diamond Travel Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02870498

Registered office: 24 New Broadway
Ealing
London
W5 2XA

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
Although the company remains solvent and generally strong, it must be acknowledged that due to Covid-19 there is a significant economic uncertainty surrounding the travel industry, however the Directors believe that this will not effect the Company's ability to continue as a Going Concern.

Diamond Travel Services Limited (Registered number: 02870498)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 11,328
DEPRECIATION
At 1 April 2022 10,315
Charge for year 152
At 31 March 2023 10,467
NET BOOK VALUE
At 31 March 2023 861
At 31 March 2022 1,013

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 70,873 45,632
Other debtors 7,092 2,635
77,965 48,267

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 76,450 49,843
Taxation and social security 2,307 2,374
Other creditors 50,547 45,513
129,304 97,730

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

The Report of the Auditors was unqualified.

Alex Chandler (Senior Statutory Auditor)
for and on behalf of Sygma