Orbis Travels Ltd |
Notes to the Accounts |
for the year ended 30 November 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the cmmission received or receivable, net of discounts and value added taxes. Turnover includes commission earned from the sale of air travel tickets. Turnover from the commission is recognised when the booking is confirmed. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Other debtors |
156,542 |
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- |
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4 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Trade creditors |
2,430 |
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- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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40,963 |
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61,563 |
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Other creditors |
163,652 |
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55,371 |
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207,045 |
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116,934 |
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5 |
Controlling party |
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The company is under the control of Mr Kunal Pankaj Naik by virtue of his shareholding in the issued share capital of the company. |
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6 |
Other information |
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Orbis Travels Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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1B, First Floor |
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142 Johnson Street |
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Southall |
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Middlesex |
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UB2 5FD |