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REGISTERED NUMBER: 05007269 (England and Wales)















Financial Statements for the Year Ended 31 July 2024

for

Easy Travel & Tours Limited

Easy Travel & Tours Limited (Registered number: 05007269)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Easy Travel & Tours Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: T Shabbir
A Shabbir





REGISTERED OFFICE: 57 Whitton Road
Hounslow
Essex
TW3 2DB





REGISTERED NUMBER: 05007269 (England and Wales)





AUDITORS: HSY Accountants Ltd
20 Tadworth Parade
Elm Park
RM12 5AS

Easy Travel & Tours Limited (Registered number: 05007269)

Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,151 282,537
Investment property 5 191,966 191,966
196,117 474,503

CURRENT ASSETS
Debtors 6 575,122 552,645
Cash at bank and in hand 305,162 174,510
880,284 727,155
CREDITORS
Amounts falling due within one year 7 595,448 698,908
NET CURRENT ASSETS 284,836 28,247
TOTAL ASSETS LESS CURRENT
LIABILITIES

480,953

502,750

CREDITORS
Amounts falling due after more than
one year

8

-

18,221
NET ASSETS 480,953 484,529

CAPITAL AND RESERVES
Called up share capital 9 100,000 100,000
Retained earnings 10 380,953 384,529
SHAREHOLDERS' FUNDS 480,953 484,529

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 27 January 2025 and were signed on its behalf by:





T Shabbir - Director


Easy Travel & Tours Limited (Registered number: 05007269)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Easy Travel & Tours 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.

The directors have, at the time of approving the financial statements, a reasonable expectation that they have adequate resources to continue in operational existence for the foreseeable future. Based on their assessment of the potential impact of Russia & Ukraine war and wider corporate cost inflation, the company has sufficient working capital, no impact on the profitability during the year, positive net current assets and have investment property to support the business for the foreseeable future. Thus they continue to adopt the going concern basis of accounting In preparing the financial statements.

Turnover
Turnover represents revenue from the sale of flight tickets and trade discounts and insurance intermediary income. In respect of flight tickets, the income is recognised at the time of issuing the ticket. In respect of insurance intermediary, the income is recognised at the time of insurance is arranged.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property-2% on reducing balance
Fixtures and fittings-25% on reducing balance
Computer equipment-25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


Easy Travel & Tours Limited (Registered number: 05007269)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 August 2023 325,577 73,757 7,852 407,186
Disposals (325,577 ) - - (325,577 )
At 31 July 2024 - 73,757 7,852 81,609
DEPRECIATION
At 1 August 2023 48,588 68,723 7,338 124,649
Charge for year - 1,230 167 1,397
Eliminated on disposal (48,588 ) - - (48,588 )
At 31 July 2024 - 69,953 7,505 77,458
NET BOOK VALUE
At 31 July 2024 - 3,804 347 4,151
At 31 July 2023 276,989 5,034 514 282,537

Easy Travel & Tours Limited (Registered number: 05007269)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 191,966
NET BOOK VALUE
At 31 July 2024 191,966
At 31 July 2023 191,966

The bank has fixed and floating charge on the investment property and over the assets of the company for providing overdraft facility. The company has given guarantee in favour of Pakistan International Airlines for £75,000 and also holding £30,000 in savings account for the same reason.

As per company policy, the valuation of investment property was made as at 31 July 2024 by the directors on an open market basis at £191,966 (Cost £191,966).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 292,473 250,355
Other debtors 280,984 300,856
VAT 1,665 1,434
575,122 552,645

Included within other debtors is a short term loan of £732.00 paid to a connected party to the directors.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 145,150 122,684
Trade creditors 394,323 294,204
Tax 28,740 20,180
Social security and other taxes - 1,638
Wages control account 3,758 3,707
Directors' current accounts 14,302 247,570
Accruals and deferred income 9,175 8,925
595,448 698,908

Included within trade creditors at year end is an amount of £67,867 payable to BSP.

Easy Travel & Tours Limited (Registered number: 05007269)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans - 2-5 years - 18,221

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100,000 Ordinary 1 100,000 100,000

10. RESERVES
Retained
earnings
£   

At 1 August 2023 384,529
Profit for the year 56,424
Dividends (60,000 )
At 31 July 2024 380,953

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Siraj Muhammad (Senior Statutory Auditor)
For and on behalf of HSY Accountants Ltd

12. RELATED PARTY DISCLOSURES

During the year, the company declared dividends of £30,000 to A Shabbir and £30,000 to T Shabbir, directors and shareholders of the company.

During the year, freehold property was personally bought by one of the director at market value.

13. ULTIMATE CONTROLLING PARTY

A Shabbir and T Shabbir who are company directors control the company by virtue of their shareholding.