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REGISTERED NUMBER: 03238796 (England and Wales)




















REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

RIMA TRAVEL LIMITED

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Report of the Director 2

Report of the Independent Auditors 4

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


RIMA TRAVEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: D L Brock



SECRETARY: D L Brock



REGISTERED OFFICE: 7 Angel Gate
326 City Road
London
EC1V 2PT



REGISTERED NUMBER: 03238796 (England and Wales)



AUDITORS: Mehta & Tengra
Chartered Accountants
Statutory Auditors
9 Berners Place
London
W1T 3AD



BANKERS: Barclays Bank Plc
Marble Arch Corporate Banking
PO Box 32016
London
NW1 2ZH

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 SEPTEMBER 2023


The director presents his report with the financial statements of the company for the year ended 30 September 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of bespoke travel agents.

REVIEW OF BUSINESS
The results for the year and financial position of the company are shown in the financial statements.

DIVIDENDS
The directors recommended the payment of net dividends amounting to £Nil (2022:£Nil).

FUTURE DEVELOPMENTS
The travel agents environment remains challenging, but the Director has been aggressive in their drive for new business,and hope to see a further improvement in the ensuing financial year.

DIRECTORS
D L Brock has held office during the whole of the period from 1 October 2022 to the date of this report.

Other changes in directors holding office are as follows:

K Patel - resigned 1 October 2022

FINANCIAL INSTRUMENTS
The company financial instruments include bank balances,trade creditors.Day to day operations continue to be funded through cash flow and from the reserves within the business.

COMPANY POLICY ON PAYMENT OF CREDITORS
The Company 's current policy concerning the payment of trade creditors is to:

- Pay in accordance with the Company's contractual and other legal obligations.

- Agree in specific cases payment terms with a supplier that reflect the particular nature of a client contract.

- Ensure that regular suppliers are aware of our standard payment terms and that these are respected and acted upon.

RELATED PARTY TRANSACTIONS
None of the directors had a material interest at anytime during the period in any contracts of significance in relation to the business of the company except as stated in note 19 and 20.

TAXATION STATUS
The Company is a close company within the provisions of Corporation Tax Act 2010.

FIXED ASSETS
Changes in fixed assets are shown in note 8 to the financial statements.


RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 SEPTEMBER 2023

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

The report has been prepared in accordance with the special provision of part 15 of the Companies Act 2006 relating to small companies.

AUDITORS
The auditors, Mehta & Tengra, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D L Brock - Director


11 April 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RIMA TRAVEL LIMITED


Opinion
We have audited the financial statements of Rima Travel Limited (the 'company') for the year ended 30 September 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 September 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Director has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RIMA TRAVEL LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RIMA TRAVEL LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud
We identify and assess the risks of material misstatements of the financial statements, whether due to fraud or error, and then design and perform audit procedures to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatements in respect of irregularities, including fraud and non-compliance and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets.

- results of our enquiries of management about their own identification and assessment of the risks and irregularities;

- any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified that greatest potential for fraud is revenue recognition.In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements.The key laws and regulations we considered in this context include the UK Companies Act, pension legislation and tax legislation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RIMA TRAVEL LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




P Tengra (Senior Statutory Auditor)
for and on behalf of Mehta & Tengra
Chartered Accountants
Statutory Auditors
9 Berners Place
London
W1T 3AD

11 April 2024

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

INCOME STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2023

PERIOD
1.4.21
YEAR ENDED TO
30.9.23 30.9.22
Notes £    £   

TURNOVER 3 12,124,600 10,154,818

Cost of sales (10,626,345 ) (8,822,573 )
GROSS PROFIT 1,498,255 1,332,245

Administrative expenses (991,076 ) (1,283,973 )
507,179 48,272

Other operating income - 154,948
OPERATING PROFIT 5 507,179 203,220

Interest receivable and similar income 19 -
507,198 203,220

Interest payable and similar expenses 6 (38,536 ) (13,478 )
PROFIT BEFORE TAXATION 468,662 189,742

Tax on profit 7 (11,286 ) 1,806
PROFIT FOR THE FINANCIAL YEAR 457,376 191,548

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2023

PERIOD
1.4.21
YEAR ENDED TO
30.9.23 30.9.22
Notes £    £   

PROFIT FOR THE YEAR 457,376 191,548


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

457,376

191,548

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 8 54,167 69,585

CURRENT ASSETS
Debtors 9 2,021,842 1,752,287
Cash at bank 38,286 220,251
2,060,128 1,972,538
CREDITORS
Amounts falling due within one year 10 (1,058,648 ) (1,330,165 )
NET CURRENT ASSETS 1,001,480 642,373
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,055,647

711,958

CREDITORS
Amounts falling due after more than one
year

11

(293,333

)

(403,333

)

PROVISIONS FOR LIABILITIES 15 (12,780 ) (16,467 )
NET ASSETS 749,534 292,158

CAPITAL AND RESERVES
Called up share capital 16 70,000 70,000
Retained earnings 17 679,534 222,158
SHAREHOLDERS' FUNDS 749,534 292,158

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 11 April 2024 and were signed by:





D L Brock - Director


RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2021 70,000 30,610 100,610

Changes in equity
Total comprehensive income - 191,548 191,548
Balance at 30 September 2022 70,000 222,158 292,158

Changes in equity
Total comprehensive income - 457,376 457,376
Balance at 30 September 2023 70,000 679,534 749,534

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Rima 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 preparation
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.

The financial statements have been prepared in accordance with applicable Accounting Standards in the United Kingdom. A summary of the important policies which have been consistently applied is set out below.

Turnover
Turnover represents the amounts derived from the sale of services within the company's ordinary activities after deducting value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

The rates in use for various classes of assets are as follows:

Furniture,fixtures & fittings-25% on reducing balance
Leasehold property-over 10 years
office equipment-25% on reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those asset 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 profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is recognised when income or expenses from an associate have been recognised, and will be assessed for tax in a future period, except where:
- it is probable that the timing difference will not reverse in the foreseeable future.

A deferred tax liability or asset is recognised for the additional tax that will be paid or avoided in respect of assets and liabilities that are recognised in a business combination. The amount attributed to goodwill is adjusted by the amount of deferred tax recognised.

Deferred tax is calculated using the tax rates and laws that that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination , the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax asset and deferred tax liabilities are offset only if:
- the company has a legally enforceable right to set off current tax assets against current tax liabilities, and
- the deferred tax asset and deferred tax liabilities relate to income taxes levied by the same taxation
authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously

Foreign currencies
Transactions in foreign currencies are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in the income statement. Non- monetary assets and liabilities that are measured in terms of the historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.

Long term monetary items are translated at the year end rate.

The assets and liabilities of foreign operations arising on consolidation are translated at foreign exchange rates ruling at the balance sheet date. The revenues and expenses of foreign operations are translated at an average rate for the period where this rate approximates to the foreign exchange rates ruling at the dates of the transactions.

Pension costs and other post-retirement benefits
The company operates a defined contribution scheme for its staff under "auto enrolment." Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Revenue recognition
Revenues for hotel commission and airline tickets are recognised when invoices are raised and not on the date of the accommodation or flights.

Similarly, reduction in revenue for hotel commission and airline tickets are recognised when credit notes are raised and not on the date of the accommodation or flights.

Revenue for music performance tours are recognised when invoices are raised and not when the tours takes place.

Hire purchase and leasing commitments
Rental paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Trade and other creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as creditors falling due within one year if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as creditors falling due after one year.

Trade creditors are recognised at the undiscounted amount owed to the supplier, which is normally the invoice price.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

Trade and other debtors
Trade debtors are amounts due from customers for goods and services provided in the ordinary course of business. Trade debtors are recognised at the undiscounted amount of cash receivable, which is normally the invoice price, less any allowances for doubtful debts.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligations and a reliable estimate can be made.

3. TURNOVER

The company's turnover represents the amounts derived from the sale of services within the company's ordinary activities after deducting value added tax.

Turnover includes sales invoiced overseas for tours performed in the U.K. and tours performed overseas but invoiced in the U.K.

Both the above are considered as U.K. turnover.

The overseas turnover is negligible.

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. EMPLOYEES AND DIRECTORS
PERIOD
1.4.21
YEAR ENDED TO
30.9.23 30.9.22
£    £   
Wages and salaries 520,697 820,796
Social security costs 40,489 83,336
Other pension costs 8,605 10,205
569,791 914,337

The average number of employees during the year was as follows:
PERIOD
1.4.21
YEAR ENDED TO
30.9.23 30.9.22

Administration 4 4
Sales 12 12
16 16

PERIOD
1.4.21
YEAR ENDED TO
30.9.23 30.9.22
£    £   
Directors' remuneration 15,000 125,550

5. OPERATING PROFIT

The operating profit is stated after charging:

PERIOD
1.4.21
YEAR ENDED TO
30.9.23 30.9.22
£    £   
Depreciation - owned assets 15,418 31,571

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


6. INTEREST PAYABLE AND SIMILAR EXPENSES
PERIOD
1.4.21
YEAR ENDED TO
30.9.23 30.9.22
£    £   
Bank loan and overdraft
interest 38,240 13,478
Other interest 296 -
38,536 13,478

7. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
PERIOD
1.4.21
YEAR ENDED TO
30.9.23 30.9.22
£    £   
Current tax:
UK corporation tax 14,973 -

Deferred tax:
Origination / (reversal) of timing difference (3,687 ) (1,806 )
Tax on profit 11,286 (1,806 )

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

PERIOD
1.4.21
YEAR ENDED TO
30.9.23 30.9.22
£    £   
Profit before tax 468,662 189,742
Profit multiplied by the standard rate of corporation tax in the UK of
19% (2022 - 19%)

89,046

36,051

Effects of:
Expenses not allowable for tax 1,337 -
Deficit / (excess) of capital allowance over depreciation 2,802 5,757

Deferred Tax (3,687 ) (1,806 )

Trading losses (78,212 ) (41,808 )
Total tax charge/(credit) 11,286 (1,806 )

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


8. TANGIBLE FIXED ASSETS
Fixtures
Long and Office
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 October 2022
and 30 September 2023 60,354 64,885 275,097 400,336
DEPRECIATION
At 1 October 2022 28,298 57,474 244,979 330,751
Charge for year 6,035 1,853 7,530 15,418
At 30 September 2023 34,333 59,327 252,509 346,169
NET BOOK VALUE
At 30 September 2023 26,021 5,558 22,588 54,167
At 30 September 2022 32,056 7,411 30,118 69,585

The leasehold property was for a period of ten years from 11th May 2012.

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,726,020 1,456,475
Sundry debtors 5,000 5,000
Other debtors 290,514 -
Amounts due from Related
company - 290,514
Prepayments & accrued income 308 298
2,021,842 1,752,287

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 12) 110,000 110,000
Trade creditors 861,240 1,127,811
Corporation tax 14,973 -
Social security and other taxes 27,145 37,248
VAT 6,986 23,234
Other creditors 13,202 3,059
Accruals & deferred income 25,102 28,813
1,058,648 1,330,165

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 12) 293,333 403,333

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


12. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 110,000 110,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 110,000 110,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 183,333 293,333

The above loan represents a Coronavirus Business Interruption Loan (CBIL).

The company's bankers have provided overdraft facilities amounting to £200,000.
The bank overdraft is repayable on demand.
There is also a company Barclayscard facility of £19,000.

13. LEASING AGREEMENTS
The lease agreement between D Brock and Rima Travel Ltd stipulates that rent is £36,000 per annum.
However, D Brock has charged rent £13,000 (2022:£5,000) for the period to 30 September 2023.

14. SECURED DEBTS

The bank holds the following securities:

Debenture on the bank`s standard form dated 28/10/1999.

Limited guarantee given by Mr David Leigh Brock for £300,000 dated 14/9/2004.

Limited guarantee given by Department for Business, Energy and Industrial Strategy for GBP 440,000 dated 06/04/2021.

Charge over 15 Verona Court ,London W4 2JD on the bank`s standard form dated 23/9/2008.

Charge over currency letter of Set-Off dated 26/09/2012.

Charge over 7 Angel gate City road London EC1V 2PT on the banks standard form dated 04/06/2021.

Charge over unit 6 25 Orbital Business Park Dwight Road Watford WD18 9DA on the banks standard form dated 04.06.2021.

BGI 4362315 in favour of RAIL SETTLEMENT PLAN LTD for GBP 5,000.00.
BGI 4432556 in favour of RAIL SETTLEMENT PLAN LTD for GBP 8,000.00.

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


15. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 12,780 16,467

Deferred
tax
£   
Balance at 1 October 2022 16,467
Provided during the year (3,687 )
Balance at 30 September 2023 12,780

16. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
70,000 Ordinary shares £1 70,000 70,000

17. RESERVES
Retained
earnings
£   

At 1 October 2022 222,158
Profit for the year 457,376
At 30 September 2023 679,534

18. PENSION COMMITMENTS

The company operates a defined contribution scheme for its staff under "auto enrolment."Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company's pension cost for the year was £8,605 (2022:£10,205). The amounts outstanding at the balance sheet date was £13,202 (2022:£3,059).

RIMA TRAVEL LIMITED (REGISTERED NUMBER: 03238796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 September 2023 and the period ended 30 September 2022:

2023 2022
£    £   
D L Brock
Balance outstanding at start of year - 359
Amounts repaid - (359 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

20. RELATED PARTY DISCLOSURES

In May 2012 D Brock purchased Unit 7, Angel Gate from which the company now operates. Although the lease stipulates that the rent to be paid would be £36,000 per annum, D. Brock agreed to charge £13,000 as rent for the year (2022:£5,000l).

D Brock has given the bank a personal guarantee of £300,000 with a charge over three of his personal properties and letter of set-off dated 26.09.2012.

21. ULTIMATE CONTROLLING PARTY

The controlling party is D L Brock.

22. CONTINGENT LIABILITY

At the balance sheet date, the following contingent liability was in existence:

An employee has filed a maternity discrimination claim against the company for approximately £70,000.
The company is contesting the claim and is confident that the ultimate settlement will be considerably less.
No provision is therefore provided in the financial statements.

However, the employee chose to withdraw her claim days before the arranged court date (March 2024) without any settlement from Rima Travel Ltd, and a judgement was issued by the Employment Tribunal.