Registered number
03051473
INDUS TOURS & TRAVEL LIMITED
Report and Accounts
31 May 2024
INDUS TOURS & TRAVEL LIMITED
Registered number: 03051473
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 1,100
Tangible assets 4 683,452 684,432
Investments 5 600 600
684,052 686,132
Current assets
Debtors 6 166,319 89,398
Cash at bank and in hand 101,353 28,103
267,672 117,501
Creditors: amounts falling due within one year 7 (235,944) (113,958)
Net current assets 31,728 3,543
Total assets less current liabilities 715,780 689,675
Creditors: amounts falling due after more than one year 8 (268,285) (347,280)
Net assets 447,495 342,395
Capital and reserves
Called up share capital 50,000 50,000
Capital Introduced 59,634 59,634
Revaluation reserve 10 177,000 177,000
Profit and loss account 160,861 55,761
Shareholders' funds 447,495 342,395
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Mohd Yasin Zargar
Director
Approved by the board on 22 August 2024
INDUS TOURS & TRAVEL LIMITED
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pension commitments
The company operates the government approved pension scheme through it's payroll.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 22,000
At 31 May 2024 22,000
Amortisation
At 1 June 2023 20,900
Provided during the year 1,100
At 31 May 2024 22,000
Net book value
At 31 May 2024 -
At 31 May 2023 1,100
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 680,513 59,961 740,474
At 31 May 2024 680,513 59,961 740,474
Depreciation
At 1 June 2023 - 56,042 56,042
Charge for the year - 980 980
At 31 May 2024 - 57,022 57,022
Net book value
At 31 May 2024 680,513 2,939 683,452
At 31 May 2023 680,513 3,919 684,432
The property has been revalued by an independent party as being between £650,000 and £700,000.
5 Investments
Other
investments
£
Cost
At 1 June 2023 600
At 31 May 2024 600
6 Debtors 2024 2023
£ £
Prepayments 162,365 84,002
Other debtors 3,954 5,396
166,319 89,398
7 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 45,503 161
Bank loans and overdrafts 52,893 51,373
Trade creditors 121,713 55,312
Accruals 7,184 6,764
Corporation tax 7,590 -
Other taxes and social security costs 1,061 348
235,944 113,958
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 200,285 249,280
Subordinated Loans 68,000 98,000
268,285 347,280
9 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 137,181 137,181
10 Revaluation reserve 2024 2023
£ £
At 1 June 2023 177,000 102,000
Gain on revaluation of land and buildings - 75,000
At 31 May 2024 177,000 177,000
11 Guarantees, Indemnities and Securities
HSBC has debentures including Fixed Charge over all present freehold and leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating charge over all assets and undertaking both present and future dated 16 February 1998 and 10 June 2003.

HSBC has first legal charge dated 31st May 2016 over Leasehold Property known as Plot 134, Artisan Place, Ladysmith Road, Harrow, HA3 5FE.
12 Related party transactions
There were no related party transactions during the year. However the director Mr Y Zargar has advanced a subordinated loan of £68,000 (2023 £98,000).
13 Controlling party
The company is controlled by Mr Zargar.
14 Other information
INDUS TOURS & TRAVEL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4, Artisan Place
23 Ladysmith Road
Harrow
HA3 5FE
15
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