LAI Travel Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 01383022 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2021

for

LAI Travel Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

V Raccuglia

REGISTERED OFFICE:

925 Finchley Road

London

NW11 7PE

REGISTERED NUMBER:

01383022 (England and Wales)

CURRENT ASSETS

Debtors

22,306

141,702

Cash at bank

2,030

47

24,336

141,749

CREDITORS

Amounts falling due within one year

78,710

153,447

NET CURRENT LIABILITIES

(54,374

)

(11,698

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(54,374

)

(11,698

)

CREDITORS

Amounts falling due after more than one year

149,556

109,421

NET LIABILITIES

(203,930

)

(121,119

)

CAPITAL AND RESERVES

Called up share capital

92,000

92,000

Retained earnings

(295,930

)

(213,119

)

SHAREHOLDERS' FUNDS

(203,930

)

(121,119

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 February 2023 and were signed by:

V Raccuglia - Director

1.	STATUTORY INFORMATION

LAI Travel Ltd 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.

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 financial statements have been prepared on a going concern basis on the grounds that the director has provided personal guarantees on the company's borrowings and intends to continue to support the company for the foreseeable future.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Revenue is recognised on the date of departure.

Tangible fixed assets

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

Plant and machinery etc

-

20% on cost and 5% on cost

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2020

and 31 October 2021

5,756

DEPRECIATION

At 1 November 2020

and 31 October 2021

5,756

NET BOOK VALUE

At 31 October 2021

-

At 31 October 2020

-

5.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.21

31.10.20

£

£

Bank overdraft

-

21,518

Bank loans

-

93,001

-

114,519

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2021 and 31 October 2020:

31.10.21

31.10.20

£

£

V Raccuglia

Balance outstanding at start of year

77,378

-

Amounts advanced

-

77,378

Amounts repaid

(59,154

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

18,224

77,378