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REGISTERED NUMBER: 14199683 (England and Wales)












REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

TRAVEL SOURCE LTD

TRAVEL SOURCE LTD (REGISTERED NUMBER: 14199683)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Report of the Directors 2

Accountants' Report 3

Statement of Income and Retained Earnings 4

Statement of Financial Position 5

Notes to the Financial Statements 7


TRAVEL SOURCE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr M Latif
Mr W Wajahat





REGISTERED OFFICE: Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 14199683 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Business Advisers and Accountants
Unit 2.02 High Weald House,
Glovers End
Bexhill
East Sussex
United Kingdom
TN39 5ES

TRAVEL SOURCE LTD (REGISTERED NUMBER: 14199683)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024


The directors present their report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of reservation services.

DIRECTORS
Mr M Latif has held office during the whole of the period from 1 July 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr W Wajahat - appointed 1 July 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr M Latif - Director


6 August 2024

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
TRAVEL SOURCE LTD



In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 30 June 2024 from the accounting records and information and explanations you have given to us.

This report is made to the Company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report 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 Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with technical guidance issued by the Institute of Chartered Accountants in England and Wales and abide by the ethical guidance laid down by the Institute relating to the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 30 June 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






Acuity Professional Partnership LLP
Business Advisers and Accountants
Unit 2.02 High Weald House,
Glovers End
Bexhill
East Sussex
United Kingdom
TN39 5ES


Date: .............................................

TRAVEL SOURCE LTD (REGISTERED NUMBER: 14199683)

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 JUNE 2024

Period
28/6/22
Year Ended to
30/6/24 30/6/23
Notes £    £   

TURNOVER 732,428 84,046

Cost of sales 687,801 78,540
GROSS PROFIT 44,627 5,506

Administrative expenses 55,258 20,882
(10,631 ) (15,376 )

Other operating income 604 -
OPERATING LOSS and
LOSS BEFORE TAXATION (10,027 ) (15,376 )

Tax on loss 5 - -
LOSS FOR THE FINANCIAL YEAR (10,027 ) (15,376 )

Retained earnings at beginning of year (15,376 ) -

RETAINED EARNINGS AT END OF
YEAR

(25,403

)

(15,376

)

TRAVEL SOURCE LTD (REGISTERED NUMBER: 14199683)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 72,063 -
Investments 7 200,000 -
272,063 -

CURRENT ASSETS
Debtors 8 50,135 71,453
Long term security deposits 36,118 23,075
Cash at bank 5,981 1,762
92,234 96,290
CREDITORS
Amounts falling due within one year 9 229,699 51,665
NET CURRENT (LIABILITIES)/ASSETS (137,465 ) 44,625
TOTAL ASSETS LESS CURRENT
LIABILITIES

134,598

44,625

CAPITAL AND RESERVES
Called up share capital 10 1,601 601
Share premium 158,400 59,400
Retained earnings (25,403 ) (15,376 )
SHAREHOLDERS' FUNDS 134,598 44,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

TRAVEL SOURCE LTD (REGISTERED NUMBER: 14199683)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


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 Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:





Mr M Latif - Director


TRAVEL SOURCE LTD (REGISTERED NUMBER: 14199683)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Travel Source Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. OPERATING LOSS

The operating loss is stated after charging:

Period
28/6/22
Year Ended to
30/6/24 30/6/23
£    £   
Computer software amortisation 3,898 -

5. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30 June 2024 nor for the period ended 30 June 2023.

TRAVEL SOURCE LTD (REGISTERED NUMBER: 14199683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


6. INTANGIBLE FIXED ASSETS
Computer
software
£   
Cost
Additions 75,961
At 30 June 2024 75,961
Amortisation
Amortisation for year 3,898
At 30 June 2024 3,898
Net book value
At 30 June 2024 72,063

7. FIXED ASSET INVESTMENTS
Convertible
Loan
£   
New in year 200,000
At 30 June 2024 200,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 48,120 4,748
VAT 1,763 787
Other Debtors - 65,918
Stripe Reserve 252 -
50,135 71,453

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 117,204 23,729
Other creditors 112,495 27,936
229,699 51,665

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
160,100 Ordinary £0.01 1,601 601

100,000 Ordinary shares of £0.01 each were allotted as fully paid at a premium of .99 per share during the year.