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REGISTERED NUMBER: 01461715 (England and Wales)















Financial Statements for the Year Ended 31st December 2023

for

Diplomat Travel Services Limited

Diplomat Travel Services Limited (Registered number: 01461715)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Diplomat Travel Services Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Mr Ozkul Beyzade
Mrs Seyyare Beyzade





SECRETARY: Mrs Havva Beyzade





REGISTERED OFFICE: 471 Green Lanes
Palmers Green
London
N13 4BS





REGISTERED NUMBER: 01461715 (England and Wales)





AUDITORS: Bayar Hughes & Co Ltd
Statutory Auditor
Chartered Certified Accountants
4 Green Lane Business Park
238 Green Lane
New Eltham
London
SE9 3TL

Diplomat Travel Services Limited (Registered number: 01461715)

Balance Sheet
31st December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,786 2,819

CURRENT ASSETS
Debtors 5 171,510 111,562
Cash at bank 6 193,125 244,755
364,635 356,317
CREDITORS
Amounts falling due within one year 7 160,752 147,187
NET CURRENT ASSETS 203,883 209,130
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,669

211,949

CREDITORS
Amounts falling due after more than one
year

8

(17,500

)

(27,503

)

PROVISIONS FOR LIABILITIES (3,600 ) (16,595 )
NET ASSETS 186,569 167,851

CAPITAL AND RESERVES
Called up share capital 56,000 56,000
Retained earnings 130,569 111,851
SHAREHOLDERS' FUNDS 186,569 167,851

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th June 2024 and were signed on its behalf by:





Mr Ozkul Beyzade - Director


Diplomat Travel Services Limited (Registered number: 01461715)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Diplomat Travel Services 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.

The accounts have been prepared on a going concern basis which assumes that the company will continue to trade into the foreseeable future and at least twelve months from the approval date of these accounts. No adjustments have been made within the financial accounts to reflect any amendments to the figures that may become necessary in the event that the going concern basis was not deemed appropriate.

Turnover
Turnover consists largely of the margin on sales of airline tickets as well as other travel products, net of VAT and trade discounts. To a lesser extent, turnover includes the gross amount of sales of airline tickets when the company acts as principal.

Gross sales is a memorandum disclosure and represents the total transaction value of all products sold and services provided and therefore includes the total amount paid by customers for products and services provided by the company. The company reports the total transaction value as the directors believe that it reflects more accurately the cashflows within the company and also as it is a widely used measure of the company's size within the travel sector.

Income from travel tickets is recognised when travel arrangements have been organised and payment received. Income from package holidays is also recognised when the holiday has been organised and payment received from the customer. Income and related expenditure is recognised at this point as the income is non-refundable as per the company's booking terms and conditions.

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 etc - 25% on reducing balance

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 balance sheet date.


Diplomat Travel Services Limited (Registered number: 01461715)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023 23,475
Additions 2,229
At 31st December 2023 25,704
DEPRECIATION
At 1st January 2023 20,656
Charge for year 1,262
At 31st December 2023 21,918
NET BOOK VALUE
At 31st December 2023 3,786
At 31st December 2022 2,819

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 161,793 92,713
Other debtors 9,717 18,849
171,510 111,562

Diplomat Travel Services Limited (Registered number: 01461715)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

6. CASH AT BANK
31/12/23 31/12/22
£    £   
Other deposits (ABTA Bond) 25,000 25,000
Bank account no. 1 38,973 44,862
Bank account no. 2 51,025 84,149
Bank account no. 3 2,537 2,375
Bank account no. 4 75,590 88,369
193,125 244,755

The company, has also provided a bond of £25,000, which Barclay's bank is holding a charge over. This is a requirement of ABTA, and was issued on 10th November 2015.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 125,624 91,770
Taxation and social security 8,017 16,242
Other creditors 17,111 29,175
160,752 147,187

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Bank loans 17,500 27,503

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Bayar Chakarto FCCA (Senior Statutory Auditor)
for and on behalf of Bayar Hughes & Co Ltd

10. RELATED PARTY DISCLOSURES

Mr Ozkul Beyzade
A Director and Shareholder


At the year end, other creditors includes an interest free short term loan repayable to the director by the company of £359 Cr (2022: £7,224 Dr). Loans between the director and the company are repayable on demand.

31/12/23 31/12/22
£    £   
Amount due (to)/from related party at the balance sheet date (359 ) 7,224

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the company's director, Mr O Beyzade.