Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activity2023-04-01false52falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02311988 2023-04-01 2024-03-31 02311988 c:EntityControlledByKeyManagementPersonnel5 2023-04-01 2024-03-31 02311988 c:EntityControlledByKeyManagementPersonnel4 2023-04-01 2024-03-31 02311988 2022-04-01 2023-03-31 02311988 2024-03-31 02311988 c:EntityControlledByKeyManagementPersonnel5 2024-03-31 02311988 c:EntityControlledByKeyManagementPersonnel4 2024-03-31 02311988 2023-03-31 02311988 c:EntityControlledByKeyManagementPersonnel4 2023-03-31 02311988 c:EntityControlledByKeyManagementPersonnel5 2023-03-31 02311988 d:Director1 2023-04-01 2024-03-31 02311988 c:Buildings 2023-04-01 2024-03-31 02311988 c:Buildings 2024-03-31 02311988 c:Buildings 2023-03-31 02311988 c:Buildings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02311988 c:PlantMachinery 2023-04-01 2024-03-31 02311988 c:PlantMachinery 2024-03-31 02311988 c:PlantMachinery 2023-03-31 02311988 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02311988 c:MotorVehicles 2023-04-01 2024-03-31 02311988 c:MotorVehicles 2024-03-31 02311988 c:MotorVehicles 2023-03-31 02311988 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02311988 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02311988 c:FreeholdInvestmentProperty 2024-03-31 02311988 c:FreeholdInvestmentProperty 2023-03-31 02311988 c:FreeholdInvestmentProperty 3 2023-04-01 2024-03-31 02311988 c:CurrentFinancialInstruments 2024-03-31 02311988 c:CurrentFinancialInstruments 2023-03-31 02311988 c:Non-currentFinancialInstruments 2024-03-31 02311988 c:Non-currentFinancialInstruments 2023-03-31 02311988 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 02311988 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 02311988 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 02311988 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 02311988 c:ShareCapital 2024-03-31 02311988 c:ShareCapital 2023-03-31 02311988 c:SharePremium 2024-03-31 02311988 c:SharePremium 2023-03-31 02311988 c:CapitalRedemptionReserve 2024-03-31 02311988 c:CapitalRedemptionReserve 2023-03-31 02311988 c:RevaluationReserve 2024-03-31 02311988 c:RevaluationReserve 2023-03-31 02311988 c:RetainedEarningsAccumulatedLosses 2024-03-31 02311988 c:RetainedEarningsAccumulatedLosses 2023-03-31 02311988 d:FRS102 2023-04-01 2024-03-31 02311988 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 02311988 d:FullAccounts 2023-04-01 2024-03-31 02311988 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02311988 5 2023-04-01 2024-03-31 02311988 c:AcceleratedTaxDepreciationDeferredTax 2024-03-31 02311988 c:AcceleratedTaxDepreciationDeferredTax 2023-03-31 02311988 c:TaxLossesCarry-forwardsDeferredTax 2024-03-31 02311988 c:TaxLossesCarry-forwardsDeferredTax 2023-03-31 02311988 c:RetirementBenefitObligationsDeferredTax 2024-03-31 02311988 c:RetirementBenefitObligationsDeferredTax 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 02311988


TRANS INDUS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024

 
TRANS INDUS LIMITED
REGISTERED NUMBER: 02311988

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
512,737
1,015,028

Investment property
  
1,199,950
699,950

  
1,712,687
1,714,978

Current assets
  

Debtors: amounts falling due within one year
 6 
221,697
511,887

Cash at bank and in hand
 7 
329,947
8,657

  
551,644
520,544

Creditors: amounts falling due within one year
 8 
(638,215)
(618,669)

Net current liabilities
  
 
 
(86,571)
 
 
(98,125)

Total assets less current liabilities
  
1,626,116
1,616,853

Creditors: amounts falling due after more than one year
 9 
(472,698)
(573,961)

Provisions for liabilities
  

Deferred tax
 10 
(2,024)
-

  
 
 
(2,024)
 
 
-

Net assets
  
1,151,394
1,042,892


Capital and reserves
  

Called up share capital 
  
60,000
100,000

Share premium account
  
120,000
270,000

Revaluation reserve
  
451,177
451,177

Capital redemption reserve
  
40,000
-

Profit and loss account
  
480,217
221,715

  
1,151,394
1,042,892


Page 1

 
TRANS INDUS LIMITED
REGISTERED NUMBER: 02311988
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 August 2024.




A Singh
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
TRANS INDUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

Trans Indus Limited is a private company limited by shares incorporated in England and Wales. The address of the registered company is 75 St Marys Road, Ealing, London W5 5RH.
The principal activity of the company continued to be that of a tour operator.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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 cost 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.

 
2.3

TURNOVER

Turnover comprises revenue recognised on a departure date basis for in respect of tailor-made holidays sold during the year.

 
2.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
TRANS INDUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

  
2.8

ADVANCE RECEIPTS AND PAYMENTS

All revenue relating to holidays with departure dates after the year end is treated as advance receipts at the balance sheet date and is separately disclosed under other creditors. Payments made to suppliers in respect of these holidays are included in prepayments.

 
2.9

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
TRANS INDUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.9
TANGIBLE FIXED ASSETS (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Plant and machinery
-
20% reducing balance
Motor vehicles
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Freehold land is not depreciated.

 
2.10

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.11

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.12

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
TRANS INDUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.13

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.


3.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are recognised to be relevant. Actual results may differ from these estimates. These estimates include depreciation of tangible fixed assets, and amortisation of intangible fixed assets. 


4.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 5 (2023 - 2).

Page 6

 
TRANS INDUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


TANGIBLE FIXED ASSETS





Land and buildings
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 April 2023
1,000,050
371,645
79,368
1,451,063


Additions
-
1,783
-
1,783


Disposals
-
-
(79,368)
(79,368)


Reclassifications
(500,000)
-
-
(500,000)



At 31 March 2024

500,050
373,428
-
873,478



Depreciation


At 1 April 2023
-
357,893
78,142
436,035


Charge for the year on owned assets
-
2,848
1,226
4,074


Disposals
-
-
(79,368)
(79,368)



At 31 March 2024

-
360,741
-
360,741



Net book value



At 31 March 2024
500,050
12,687
-
512,737



At 31 March 2023
1,000,050
13,752
1,226
1,015,028

The directors are of the opinion that the value of freehold land and building is fairly stated.


INVESTMENT PROPERTY


Freehold investment property

£



Valuation


At 1 April 2023
699,950


Reclassifications
500,000



At 31 March 2024
1,199,950

The 2017 valuations were made by Grant Mills Wood, on an open market value for existing use basis.




Page 7

 
TRANS INDUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


DEBTORS

2024
2023
£
£


Other debtors
128,109
303,714

Prepayments and accrued income
93,588
106,517

Deferred taxation
-
101,656

221,697
511,887


Included within prepayments and accrued income is an amount of £93,588 (2023: £106,517) of payments to suppliers in respect of holidays departing after the year end.


7.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
329,947
8,657

329,947
8,657



8.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Bank loans
20,814
19,529

Trade creditors
238,873
102,290

Corporation tax
23,318
-

Other taxation and social security
12,306
1,894

Other creditors
17,627
39,735

Accruals and deferred income
325,277
455,221

638,215
618,669


Included within accruals and deferred income is an amount of £295,277 (2023: £455,221) of monies received from clients in respect of holidays departing within one year. 

Page 8

 
TRANS INDUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


CREDITORS: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
174,824
192,681

Other creditors
296,124
373,857

Accruals and deferred income
1,750
7,423

472,698
573,961


The bank loan and bank overdraft facilities are secured by a legal charge over the all assets of the Company.
Included within other creditors falling due after more than one year is an amount of £157,000 which is a  subordinated loan in respect of the Civil Aviation Authority. 
Included within accruals and deferred income is an amount of £1,750 (2023: £7,423) of monies received from clients in respect of holidays departing after one year.
 


10.


DEFERRED TAXATION




2024


£






At beginning of year
101,656


Charged to profit or loss
(103,680)



At end of year
(2,024)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(2,137)
(2,482)

Losses and other deductions
113
104,104

Short term timing differences
-
34

(2,024)
101,656

Page 9

 
TRANS INDUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


CONTINGENT LIABILITIES AND REGULATORY REQUIREMENTS

The Company currently holds an Air Travel Organisers' License (ATOL) issued by the Civil Aviation Authority (CAA).
In order to offer air inclusive package holidays, the company requires the annual renewal by the CAA of its ATOL licence. The CAA grants this license on the basis of meeting agreed financial criteria and renews this in September (effective 1st October) each year. The company has complied with these requirements in previous years. The directors see no reason why the ATOL license will not be renewed in September 2024 on substantially the same terms and conditions as currently agreed with the CAA.
There are no other material contingent liabilities.


12.


PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately  from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,105 (2023: £3,100). Contributions totalling £499 (2023: £318 ) were payable to the fund at the balance sheet date.


13.


RELATED PARTY TRANSACTIONS

At the balance sheet date the company owed £69,000 (2023: £75,000) to A Singh, director.
At the balance sheet date the company owed £18,000 (2023: £18,000) to M K Summy, director.
At the balance sheet date the company owed £2,000 (2023: £2,000) to B Panaligan, director.

 
Page 10