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Registered Number: 04682544
England and Wales

 

 

 

ARIANA TRAVEL LIMITED


Audited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 5 508,960    777,617 
Tangible fixed assets 6 56,476    68,211 
565,436    845,828 
Current assets      
Debtors 7 93,296    51,521 
Cash at bank and in hand 98,975    125,926 
192,271    177,447 
Creditors: amount falling due within one year 8 (214,617)   (388,014)
Net current assets (22,346)   (210,567)
 
Total assets less current liabilities 543,090    635,261 
Creditors: amount falling due after more than one year 9 (181,791)   (276,302)
Provisions for liabilities 10 (10,730)   (12,960)
Net assets 350,569    345,999 
 

Capital and reserves
     
Called up share capital 50,000    50,000 
Profit and loss account 300,569    295,999 
Shareholders' funds 350,569    345,999 
 


These 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 to the Registrar of Companies.
The financial statements were approved by the director on 14 June 2024 and were signed by:


-------------------------------
Yasir Ahmad
Director
1
General Information
Ariana Travel Limited is a private company, limited by shares, registered in England and Wales, registration number 04682544, registration address 136 The Broadway, Southal, Middlesex, UB1 1QN


1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors have considered cash flow for a period of at least 12 months from the date of approval of these financial statements. Taking account of a reasonably possible downside, the company will have sufficient funds to meets its liabilities as they fall due for the period, Therefore have prepared the financial statements on a going concern basis.
Turnover
Turnover represents sales of airline tickets and package tours, net of value-added tax. Turnover in respect of tours and packages is recognised on the departure date of travel. Revenue relating to flight-only sales is recognised at the point of booking.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
Assets acquire under the hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives or the lease term, whichever is shorter.
The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit and loss on straight line basis over the period of the lease.

Exemption to prepare cashflow statement

Exemption has been taken to prepare cashflow statement as the company qualifies as a small company.

Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Presentation currency
The presentation currency for the Financial Statements is sterling pounds.
Assets and liabilities in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating result.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost at the date of acquisition.
Director believe that  the residual value of goodwill is considered to remained as same amount at cost at the date of acquisition  and no further goodwill amortization is considered necessary.
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of [5] years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 15% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 13 (2022 : 13).
3.

Financial Commitments, Guarantees and Contingencies

The Company had no financial commitments as of the balance sheet date.

4.

Audit Information

The auditor's report on the accounts of Ariana Travel Limited for the year ended 31 December 2023 was unqualified/qualified.

The auditor's report was signed by Krishna Prasad Dahal (Senior Statutory Auditor) for and on behalf of Focus Somar Audit & Tax Accountants Ltd Chartered Certified Accountants and Statutory Auditors on 14 June 2024.
5.

Intangible fixed assets

Cost Goodwill   Software License   Total
  £   £   £
At 01 January 2023 758,270    92,139    850,409 
Additions    
Disposals    
At 31 December 2023 758,270    92,139    850,409 
Amortisation
At 01 January 2023   72,792    72,792 
Charge for year 250,229    18,428    268,657 
On disposals    
At 31 December 2023 250,229    91,220    341,449 
Net book values
At 31 December 2023 508,041    919    508,960 
At 31 December 2022 758,270    19,347    777,617 


6.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 January 2023 54,738    63,361    50,235    58,493    226,827 
Additions        
Disposals        
At 31 December 2023 54,738    63,361    50,235    58,493    226,827 
Depreciation
At 01 January 2023 51,335    48,338    10,909    48,034    158,616 
Charge for year 511    3,756    5,899    1,569    11,735 
On disposals        
At 31 December 2023 51,846    52,094    16,808    49,603    170,351 
Net book values
Closing balance as at 31 December 2023 2,892    11,267    33,427    8,890    56,476 
Opening balance as at 01 January 2023 3,403    15,023    39,326    10,459    68,211 


7.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 75,786    36,645 
Prepayments & Accrued Income 11,865    11,937 
Other Debtors 3,273    375 
VAT 2,372    2,564 
93,296    51,521 

8.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 52,527    210,818 
Bank Loans & Overdrafts 108,599    110,827 
Corporation Tax 18,870    18,498 
PAYE & Social Security 2,023    6,562 
Accrued Expenses 17,457    18,430 
Other Creditors 15,141    22,879 
214,617    388,014 

9.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 129,879    145,595 
Other Creditors 40,088    118,883 
Directors' Loan Accounts 11,824    11,824 
181,791    276,302 

10.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 10,730    12,960 
10,730    12,960 

11.

Director's Advances, Credits and Guarantees

At the year-end, the amount owed to Mr. Yasir Ahmad the director of the company was £11,824 (2022: £11,824).
12.

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.
13.

Ultimate Controlling Party

The ultimate controlling party is Mr. Yasir Ahmad.
14.

AUDITORS INFORMATION

The auditors report for the year ended 31st December 2023 is not qualified.
Auditors Name:
Focus Somar Audit & Tax Accountants Ltd
Address: 301 Third Floor Middlesex House, 130 College Road, Harrow, HA1 1BQ
2