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REGISTERED NUMBER: 10845229 (England and Wales)















Financial Statements for the Year Ended 31 October 2023

for

South India Tours and Travel Limited

South India Tours and Travel Limited (Registered number: 10845229)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


South India Tours and Travel Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: P Ballard
V Mathew





REGISTERED OFFICE: 45/51, Wychtree Street
Morriston
Swansea
West Glamorgan
SA6 8EX





REGISTERED NUMBER: 10845229 (England and Wales)





AUDITORS: Cambrian & Co Ltd
13A Victoria Gardens
Neath
West Glamorgan
SA11 3AY

South India Tours and Travel Limited (Registered number: 10845229)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,046 7,038

CURRENT ASSETS
Stocks 6,188 -
Debtors 5 353,948 129,698
Cash at bank 34,123 11,273
394,259 140,971
CREDITORS
Amounts falling due within one year 6 424,950 175,386
NET CURRENT LIABILITIES (30,691 ) (34,415 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,645

)

(27,377

)

CREDITORS
Amounts falling due after more than one
year

7

81,000

81,000
NET LIABILITIES (106,645 ) (108,377 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (106,745 ) (108,477 )
(106,645 ) (108,377 )

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 5 January 2024 and were signed on its behalf by:





P Ballard - Director


South India Tours and Travel Limited (Registered number: 10845229)

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

1. STATUTORY INFORMATION

South India Tours and 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
Income is recognised on departure date of customers travel, at the fair value of the consideration received or receivable, excluding discounts, rebates 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 - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

South India Tours and Travel Limited (Registered number: 10845229)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 11,527
DEPRECIATION
At 1 November 2022 4,489
Charge for year 1,992
At 31 October 2023 6,481
NET BOOK VALUE
At 31 October 2023 5,046
At 31 October 2022 7,038

5. DEBTORS
31.10.23 31.10.22
£    £   
Amounts falling due within one year:
Trade debtors 185,474 63,925
Other debtors 20,000 30,000
Other Debtors 107,232 -
VAT 1,027 398
Deferred tax asset 36,361 16,308
Prepayments 3,854 11,546
353,948 122,177

Amounts falling due after more than one year:
Other debtors - 7,521

Aggregate amounts 353,948 129,698

South India Tours and Travel Limited (Registered number: 10845229)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Amount owed to group
undertakings 156,564 90,963
Accruals and deferred income 267,616 83,678
Accrued expenses 770 745
424,950 175,386

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£    £   
Preference shares 81,000 81,000

Preference shareholders are entitled on the 9th March each year to a fixed non-cumulative dividend of 3% per annum applied to the nominal value of the shares.On winding up the shares will be entitled to a return of the nominal capital in advance of the Ordinary shares and a pro rata payment of the dividend for the period from the previous 9th March. The shares are redeemable at any time at the discretion of the directors. On redemption, the payment will be the return of the nominal capital and a pro rata payment of the dividend for the period from the previous 9th March.

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

The Report of the Auditors was unqualified.

D Jones (Senior Statutory Auditor)
for and on behalf of Cambrian & Co Ltd

9. RELATED PARTY DISCLOSURES

At the year end an amount of £156,564 (2022 £90,963) was owed to Tapestart Ltd. Tapestart Ltd acts as a clearing house for intercompany transactions between associated companies.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by Direct Tile Warehouse Limited by virtue of its 100% shareholding.

11. GOING CONCERN

The accounts have been prepared on a going concern basis. With the support of Tapestart Ltd, an associated company under common control, the company will seek to repay its liabilities as soon as they fall due and return to a net assets position. Tapestart Ltd has agreed not to seek repayment within the 12 months following December 2023.