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Registered number: 03115741
Shahnawaz (London) Limited
Financial Statements
For The Year Ended 31 December 2023
Shabbir & Co
Chartered Certified Accountants
248 Brockley Road
London
SE4 2SF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03115741
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 752 941
752 941
CURRENT ASSETS
Debtors 5 85,306 71,838
Cash at bank and in hand 17,638 38,372
102,944 110,210
Creditors: Amounts Falling Due Within One Year 6 (8,361 ) (17,723 )
NET CURRENT ASSETS (LIABILITIES) 94,583 92,487
TOTAL ASSETS LESS CURRENT LIABILITIES 95,335 93,428
NET ASSETS 95,335 93,428
CAPITAL AND RESERVES
Called up share capital 7 30,000 30,000
Profit and Loss Account 65,335 63,428
SHAREHOLDERS' FUNDS 95,335 93,428
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Shahnawaz Rauf
Director
24th May 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Shahnawaz (London) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03115741 . The registered office is Kings Travel, 66 Upper Tooting Road, London, SW17 7PB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents sales or airline tickets and package tours, net of value added tax. Revenue relating to flight only sales is recognised at the point of booking.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on reducing balance
Computer Equipment 20% on reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 5,891 9,824 15,715
As at 31 December 2023 5,891 9,824 15,715
Depreciation
As at 1 January 2023 5,795 8,979 14,774
Provided during the period 20 169 189
As at 31 December 2023 5,815 9,148 14,963
Net Book Value
As at 31 December 2023 76 676 752
As at 1 January 2023 96 845 941
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 19,565 18,132
Other debtors 7,187 3,600
VAT 54 106
Director's loan account 8,500 -
35,306 21,838
Due after more than one year
Other debtors 50,000 50,000
85,306 71,838
Trade debtors of £19,565 at the finanicial year end refer to those amounts owed by customers and commissions receivable (£435).
Other debtors (less than one year) of £7,187 are refunds owed to the company from its suppliers. 
Other debtors (more than than year) of £50,000 refers to security deposit held by Pakistan International Airlines on behalf of company so that the company may issue tickets for travel on their airlines.
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 5,432 11,657
Bank loans and overdrafts 153 110
Corporation tax 1,180 3,097
Other taxes and social security 40 594
Net wages 60 781
NEST Pensions (34 ) 34
Accruals and deferred income 1,530 1,450
8,361 17,723
The above Trade creditors figure includes a net amount of £31.68 owed to IATAs BSP system as at the 31st December 2023. This amount was paid by the company on the 8th January 2024.
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 30,000 30,000
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Shahnawaz Rauf - 8,500 - - 8,500
The above loan is unsecured, interest free and repayable on demand.
The director repiad the loan in full by the 28th March 2024.
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