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REGISTERED NUMBER: 07930861 (England and Wales)















Financial Statements for the Year Ended 31 May 2023

for

GURU TRAVEL LIMITED

GURU TRAVEL LIMITED (REGISTERED NUMBER: 07930861)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GURU TRAVEL LIMITED

Company Information
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr Baljinder Singh Rahal





REGISTERED OFFICE: Office 1
Izabella House
24-26 Regent Place
Birmingham
West Midlands
B1 3NJ





REGISTERED NUMBER: 07930861 (England and Wales)






GURU TRAVEL LIMITED (REGISTERED NUMBER: 07930861)

Balance Sheet
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 323,147 265,748

CURRENT ASSETS
Stocks 5 8,814 8,814
Debtors 6 30,548 42,742
Cash at bank and in hand 226,446 127,650
265,808 179,206
CREDITORS
Amounts falling due within one year 7 242,533 212,011
NET CURRENT ASSETS/(LIABILITIES) 23,275 (32,805 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

346,422

232,943

CREDITORS
Amounts falling due after more than one
year

8

(165,512

)

(140,703

)

PROVISIONS FOR LIABILITIES 10 (61,052 ) -
NET ASSETS 119,858 92,240

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 12 119,857 92,239
SHAREHOLDERS' FUNDS 119,858 92,240

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 director acknowledges his 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.

GURU TRAVEL LIMITED (REGISTERED NUMBER: 07930861)

Balance Sheet - continued
31 MAY 2023


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 director and authorised for issue on 25 July 2024 and were signed by:





Mr Baljinder Singh Rahal - Director


GURU TRAVEL LIMITED (REGISTERED NUMBER: 07930861)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Guru 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax 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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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

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

GURU TRAVEL LIMITED (REGISTERED NUMBER: 07930861)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2022 428,595 12,765 1,707 443,067
Additions 113,000 2,859 714 116,573
Disposals (3,500 ) - - (3,500 )
At 31 May 2023 538,095 15,624 2,421 556,140
DEPRECIATION
At 1 June 2022 171,263 5,535 521 177,319
Charge for year 55,227 1,513 285 57,025
Eliminated on disposal (1,351 ) - - (1,351 )
At 31 May 2023 225,139 7,048 806 232,993
NET BOOK VALUE
At 31 May 2023 312,956 8,576 1,615 323,147
At 31 May 2022 257,332 7,230 1,186 265,748

5. STOCKS
31.5.23 31.5.22
£    £   
Stocks 8,814 8,814

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors - 9,250
VAT 30,548 33,492
30,548 42,742

GURU TRAVEL LIMITED (REGISTERED NUMBER: 07930861)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts (see note 9) 6,660 6,660
Hire purchase contracts 86,583 55,548
Trade creditors 6,670 3,052
Tax 17,967 9,548
Social security and other taxes 2,424 5,784
Pensions 73 (194 )
Directors' current accounts 120,156 129,763
Accrued expenses 2,000 1,850
242,533 212,011

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans (see note 9) 32,192 37,784
Hire purchase contracts 133,320 102,919
165,512 140,703

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,552 11,144

9. LOANS

An analysis of the maturity of loans is given below:

31.5.23 31.5.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,660 6,660

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,660 6,660

Amounts falling due between two and five years:
Bank loans - 2-5 years 19,980 19,980

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,552 11,144

GURU TRAVEL LIMITED (REGISTERED NUMBER: 07930861)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2023


10. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 61,052 -

Deferred
tax
£   
Provided during year 61,052
Balance at 31 May 2023 61,052

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
1 Ordinary 1.00 1 1

12. RESERVES
Retained
earnings
£   

At 1 June 2022 92,239
Profit for the year 68,618
Dividends (41,000 )
At 31 May 2023 119,857