Registered number
SC405509
AIRWAYS TRAVEL & TOURS LTD
Filleted Accounts
31 August 2024
AIRWAYS TRAVEL & TOURS LTD
Registered number: SC405509
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,489 2,512
Current assets
Debtors 4 38,277 60,201
Cash at bank and in hand 29,130 39,620
67,407 99,821
Creditors: amounts falling due within one year 5 (42,581) ######
Net current assets 24,826 40,763
Total assets less current liabilities 27,315 43,275
Creditors: amounts falling due after more than one year 6 (37,545) (55,700)
Net assets/(liabilities) (10,230) (12,425)
Capital and reserves
Called up share capital 100 100
Profit and loss account (10,330) (12,525)
Shareholder's funds (10,230) (12,425)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mrs Shamim Ali
Director
Approved by the board on 10 March 2025
AIRWAYS TRAVEL & TOURS LTD
Notes to the Accounts
for the year ended 31 August 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 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.
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:
Fixtures, fittings, tools and equipment 10% Reducing balance method
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Fixture & fittings
£
Cost
At 1 September 2023 7,294
Additions 254
At 31 August 2024 7,548
Depreciation
At 1 September 2023 4,782
Charge for the year 277
At 31 August 2024 5,059
Net book value
At 31 August 2024 2,489
At 31 August 2023 2,512
4 Debtors 2024 2023
£ £
Trade debtors 38,277 60,201
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,760 -
Trade creditors 32,754 57,101
Taxation and social security costs 355 278
Other creditors 2,712 1,679
42,581 59,058
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 34,788 52,197
Director's loan account 2,757 3,503
37,545 55,700
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