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REGISTERED NUMBER: 03423266 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

GLOBAL TOURISM SOLUTIONS (UK) LIMITED

GLOBAL TOURISM SOLUTIONS (UK) LIMITED (REGISTERED NUMBER: 03423266)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


GLOBAL TOURISM SOLUTIONS (UK) LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Mrs A V James
Professor S R C Wanhill
Mr D F J Calway
Mrs C H James
Mr R J MacDonald





REGISTERED OFFICE: 12-13 Alma Square
Scarborough
North Yorkshire
YO11 1JU





REGISTERED NUMBER: 03423266 (England and Wales)

GLOBAL TOURISM SOLUTIONS (UK) LIMITED (REGISTERED NUMBER: 03423266)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 5,046 8,535
5,046 8,535

CURRENT ASSETS
Debtors 6 77,082 84,096
Cash at bank 818,110 639,777
895,192 723,873
CREDITORS
Amounts falling due within one year 7 319,392 195,218
NET CURRENT ASSETS 575,800 528,655
TOTAL ASSETS LESS CURRENT
LIABILITIES

580,846

537,190

CAPITAL AND RESERVES
Called up share capital 211 211
Retained earnings 580,635 536,979
SHAREHOLDERS' FUNDS 580,846 537,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





Mrs C H James - Director


GLOBAL TOURISM SOLUTIONS (UK) LIMITED (REGISTERED NUMBER: 03423266)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Global Tourism Solutions (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical accounting estimates and assumptions
The directors do not consider that any of the estimates and assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover represents goods and services supplied, excluding value added tax. Revenue is recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration. Where payments are received from customers in advance of the right to consideration being earned, the amounts are recorded as deferred income and included within creditors falling due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
Payments to defined contribution pension schemes are charged as an expense in the period to which they relate.

Intangible assets
Intangible assets are included at cost and are amortised over their expected useful life of 10 years. No amortisation is provided in the year of purchase.

GLOBAL TOURISM SOLUTIONS (UK) LIMITED (REGISTERED NUMBER: 03423266)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Going concern
The company has a net asset position and a healthy bank position and the directors are satisfied that there are sufficient resources in place to continue operating for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 300,001
AMORTISATION
At 1 April 2023
and 31 March 2024 300,001
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 13,959
DEPRECIATION
At 1 April 2023 5,424
Charge for year 3,489
At 31 March 2024 8,913
NET BOOK VALUE
At 31 March 2024 5,046
At 31 March 2023 8,535

GLOBAL TOURISM SOLUTIONS (UK) LIMITED (REGISTERED NUMBER: 03423266)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 72,943 81,348
Other debtors 4,139 2,748
77,082 84,096

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 120,499 80,927
Other creditors 198,893 114,291
319,392 195,218

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mrs A V James
Balance outstanding at start of year - -
Amounts advanced 300 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 300 -