1 May 2023 v2024.49.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP059882652023-05-012024-04-30059882652024-04-30059882652023-04-3005988265core:WithinOneYear2024-04-3005988265core:WithinOneYear2023-04-3005988265core:AfterOneYear2024-04-3005988265core:AfterOneYear2023-04-3005988265core:ShareCapital2024-04-3005988265core:ShareCapital2023-04-3005988265core:RetainedEarningsAccumulatedLosses2024-04-3005988265core:RetainedEarningsAccumulatedLosses2023-04-3005988265bus:Director12023-05-012024-04-3005988265bus:RegisteredOffice2023-05-012024-04-3005988265core:PlantMachinery2023-05-012024-04-3005988265core:OfficeEquipment2023-05-012024-04-30059882652022-05-012023-04-3005988265core:PlantMachinery2024-04-3005988265core:PlantMachinery2023-05-0105988265core:PlantMachinery2023-04-300598826512023-05-012024-04-3005988265countries:EnglandWales2023-05-012024-04-3005988265bus:AuditExemptWithAccountantsReport2023-05-012024-04-3005988265bus:PrivateLimitedCompanyLtd2023-05-012024-04-3005988265bus:SmallEntities2023-05-012024-04-3005988265bus:FullAccounts2023-05-012024-04-30
Company registration number:
05988265
STI Travel International Ltd
Unaudited Filleted Financial Statements for the year ended
30 April 2024
BRIAN PAUL LIMITED
CHARTERED ACCOUNTANTS
Chase Green House, 42 Chase Side, Enfield, Middlesex, EN2 6NF, United Kingdom
STI Travel International Ltd
Statement of Financial Position
30 April 2024
20242023
Note££
Fixed assets    
Tangible assets 5
400
 
533
 
Current assets    
Debtors 6
180,200
 
213,137
 
Cash at bank and in hand
72,181
 
50,881
 
252,381
 
264,018
 
Creditors: amounts falling due within one year 7
(151,953
)
(228,744
)
Net current assets
100,428
 
35,274
 
Total assets less current liabilities 100,828   35,807  
Creditors: amounts falling due after more than one year 8
(106,034
)
(112,001
)
Net liabilities
(5,206
)
(76,194
)
Capital and reserves    
Called up share capital
50,000
 
50,000
 
Profit and loss account
(55,206
)
(126,194
)
Shareholders deficit
(5,206
)
(76,194
)
For the year ending
30 April 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These
financial statements
were approved by the board of directors and authorised for issue on
27 September 2024
, and are signed on behalf of the board by:
B M Ghabbour
Director
Company registration number:
05988265
STI Travel International Ltd
Notes to the Financial Statements
Year ended
30 April 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Amp House, 4th Floor, Suite 17
,
Dingwall Road
,
Croydon
, ,
CR0 2LX
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

On the basis of receiving continued support from the director B M Ghabbour, the company is deemed to be a going concern.

Turnover

Turnover represents amounts receivable from the sale of tours and other services supplied, net of discounts and Value Added Tax.
Revenue from the sale of services is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on departure basis; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% straight line
Office equipment
20% straight line

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Foreign currency translation

Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical costs are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Income statement except when deferred in other income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Income statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Income statement within 'other operating income'.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 May 2023
and
30 April 2024
9,633
 
Depreciation  
At
1 May 2023
9,100
 
Charge
133
 
At
30 April 2024
9,233
 
Carrying amount  
At
30 April 2024
400
 
At 30 April 2023
533
 

6 Debtors

20242023
££
Trade debtors
17,961
 
112,169
 
Other debtors
162,239
 
100,968
 
180,200
 
213,137
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
5,556
 
5,556
 
Trade creditors
37,370
 
33,963
 
Taxation and social security
187
 
20
 
Other creditors
108,840
 
189,205
 
151,953
 
228,744
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
31,234
 
37,201
 
Other creditors
74,800
 
74,800
 
106,034
 
112,001
 

10 Controlling party

The ultimate controlling party is Mr B M Ghabbour by virtue of his directorship and his shareholding in the company.