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Registered number: 11022247
Mallu Travel Ltd
Financial Statements
For The Year Ended 31 October 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11022247
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 13,600 17,000
Tangible Assets 5 16,739 7,476
30,339 24,476
CURRENT ASSETS
Debtors 6 16,620 13,905
Cash at bank and in hand 77,404 17,359
94,024 31,264
Creditors: Amounts Falling Due Within One Year 7 (69,018 ) (47,530 )
NET CURRENT ASSETS (LIABILITIES) 25,006 (16,266 )
TOTAL ASSETS LESS CURRENT LIABILITIES 55,345 8,210
NET ASSETS 55,345 8,210
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 55,245 8,110
SHAREHOLDERS' FUNDS 55,345 8,210
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Y A Patel
Director
9th January 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mallu Travel Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11022247 . The registered office is 109 Coleman Road, Leicester, Leicestershire, LE5 4LE.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised
evenly over its estimated useful life of ten years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on reducing balance
Computer Equipment 20% on reducing balance
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
Page 3
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4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 34,000
As at 31 October 2023 34,000
Amortisation
As at 1 November 2022 17,000
Provided during the period 3,400
As at 31 October 2023 20,400
Net Book Value
As at 31 October 2023 13,600
As at 1 November 2022 17,000
5. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 26,600 778 27,378
Additions 15,995 - 15,995
Disposals (5,000 ) - (5,000 )
As at 31 October 2023 37,595 778 38,373
Depreciation
As at 1 November 2022 19,622 280 19,902
Provided during the period 5,446 99 5,545
Disposals (3,813 ) - (3,813 )
As at 31 October 2023 21,255 379 21,634
Net Book Value
As at 31 October 2023 16,340 399 16,739
As at 1 November 2022 6,978 498 7,476
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 10,529 9,242
Other debtors 6,091 4,663
16,620 13,905
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 648 23
Bank loans and overdrafts 729 -
Other creditors 55,561 43,228
Taxation and social security 12,080 4,279
69,018 47,530
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
The following advances and credits to directors subsisted during the current and prior periods:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr Yusuf Patel - - (1,000 ) - (1,000 )
The above loan is unsecured, interest free and repayable on demand.
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