Registered number
01017626
Global Service Travel Agents (UK) Limited
Filleted Accounts
31 December 2024
TEMPLETONS ( HOLDINGS) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
Global Service Travel Agents (UK) Limited
Registered number: 01017626
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 19,961 8,187
Current assets
Debtors 4 22,034 18,868
Cash at bank and in hand 69,227 78,534
91,261 97,402
Creditors: amounts falling due within one year 5 (46,145) (36,644)
Net current assets 45,116 60,758
Total assets less current liabilities 65,077 68,945
Creditors: amounts falling due after more than one year 6 (26,910) (31,843)
Provisions for liabilities (1,130) (1,046)
Net assets 37,037 36,056
Capital and reserves
Called up share capital 30,000 30,000
Profit and loss account 7,037 6,056
Shareholders' funds 37,037 36,056
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 S H Naqvi
Director
Approved by the board on 29 May 2025
Global Service Travel Agents (UK) Limited
Notes to the Accounts
for the year ended 31 December 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 represents commission receivable from sale of airline tickets and other related services to the customers.
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 20% on reducing balance basis
Improvements to property 10% on straight line basis
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 - 62,492 62,492
Additions 13,125 2,000 15,125
At 31 December 2024 13,125 64,492 77,617
Depreciation
At 1 January 2024 - 54,305 54,305
Charge for the year 1,313 2,038 3,351
At 31 December 2024 1,313 56,343 57,656
Net book value
At 31 December 2024 11,812 8,149 19,961
At 31 December 2023 - 8,187 8,187
4 Debtors 2024 2023
£ £
Trade debtors 18,736 18,868
Other debtors 3,298 -
22,034 18,868
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loan 5,000 5,067
Trade creditors 32,433 27,272
Corporation tax 1,639 2,444
Other taxes and social security costs 278 936
Other creditors 6,795 925
46,145 36,644
The company director's has given a personal guarantee to the airline regarding its ticket stock in the event that the company is unable to fulfil its liabilities.
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan 26,910 31,843
The Bank loan is unsecured and is repayable over a period of 10 years.
7 Ultimate Controlling party
The ultimate controlling party is Ms K S Syed , a Director and shareholder of the company throughout the year.
8 Other information
Global Service Travel Agents (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
428 Hoe Street
Walthamstow
London
E17 9AA
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