REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st December 2023 |
for |
Diplomat Travel Services Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st January 2023 |
Additions |
At 31st December 2023 |
DEPRECIATION |
At 1st January 2023 |
Charge for year |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/23 | 31/12/22 |
£ | £ |
Trade debtors |
Other debtors |
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 |
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 |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/12/23 | 31/12/22 |
£ | £ |
Bank loans |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |