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REGISTERED NUMBER: 02883454 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

SWINLEY TRAVEL LIMITED

SWINLEY TRAVEL LIMITED (REGISTERED NUMBER: 02883454)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SWINLEY TRAVEL LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTORS: K Messaoud
Mrs L M Messaoud



REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



REGISTERED NUMBER: 02883454 (England and Wales)



ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: National Westminster Bank Plc
4 Standishgate
Wigan
Lancashire
WN1 1UJ

SWINLEY TRAVEL LIMITED (REGISTERED NUMBER: 02883454)

STATEMENT OF FINANCIAL POSITION
31 May 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 10,609 14,651
Cash at bank 69,348 90,539
79,957 105,190
CREDITORS
Amounts falling due within one year 6 28,701 32,837
NET CURRENT ASSETS 51,256 72,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,256

72,353

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 1,256 22,353
SHAREHOLDERS' FUNDS 51,256 72,353

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

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

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:





K Messaoud - Director


SWINLEY TRAVEL LIMITED (REGISTERED NUMBER: 02883454)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Swinley 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 invoice sales of services, excluding value added tax. Sales are recognised at the date of travel or cancellation, whichever is earlier.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Tangible fixed assets are recorded at cost, less depreciation and impairment.

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


SWINLEY TRAVEL LIMITED (REGISTERED NUMBER: 02883454)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 3,484
Disposals (3,484 )
At 31 May 2023 -
DEPRECIATION
At 1 June 2022 3,484
Eliminated on disposal (3,484 )
At 31 May 2023 -
NET BOOK VALUE
At 31 May 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 10,609 14,651

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 95 4,893
Other creditors 28,606 27,944
28,701 32,837

SWINLEY TRAVEL LIMITED (REGISTERED NUMBER: 02883454)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
K Messaoud
Balance outstanding at start of year (2,207 ) (13,803 )
Amounts advanced 35,227 31,596
Amounts repaid (30,080 ) (20,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,940 (2,207 )

The loan has been repaid within 9 months of the year end with interest charged at 2.25%.

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £21,500 (2022 - £20,000) were paid to the directors .