Visas For India Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03626809 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2022

for

Visas For India Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D J Syrett

T Syrett

SECRETARY:

D J Syrett

REGISTERED OFFICE:

Shadwell House

65 Lower Green Road

Rusthall

Tunbridge Wells

Kent

TN4 8TW

REGISTERED NUMBER:

03626809 (England and Wales)

ACCOUNTANTS:

Peter Hodgson & Co.

Chartered Accountants

Shadwell House

65 Lower Green Road

Tunbridge Wells

Kent

TN4 8TW

CURRENT ASSETS

Debtors

4

10,373

10,374

Investments

5

-

213,740

Cash at bank

127,721

109,480

138,094

333,594

CREDITORS

Amounts falling due within one year

6

74,722

176,903

NET CURRENT ASSETS

63,372

156,691

TOTAL ASSETS LESS CURRENT LIABILITIES

63,372

156,691

PROVISIONS FOR LIABILITIES

7

-

21,611

NET ASSETS

63,372

135,080

CAPITAL AND RESERVES

Called up share capital

8

15,000

15,000

Fair value reserve

9

-

113,741

Retained earnings

9

48,372

6,339

SHAREHOLDERS' FUNDS

63,372

135,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 28 October 2022 and were signed on its behalf by:

D J Syrett - Director

1.	STATUTORY INFORMATION

Visas For India 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.

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.

Significant judgements and estimates

There are no significant judgements or estimates pertaining to these accounts that the directors feel need to be brought to the attention of users of these accounts.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Revenue recognition

Amounts received at the balance sheet date in respect of holidays booked by clients for future years are treated as deferred revenue. Amounts paid by the company at the balance sheet date in respect of accommodation costs for holidays in future years are treated as deferred expenditure.

Financial instruments

Basic financial instruments comprising debtors and bank balances are recorded at fair value.

Functional currency

The functional currency used by the company is £ Sterling.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

10,373

10,374

5.	CURRENT ASSET INVESTMENTS

2022

2021

£

£

Customer protection bond

-

213,740

The original cost of the customer protection bond amounted to £100,000,

It was sold during the year realising a gain of £115,413.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Tax

14,579

4,454

Directors' current accounts

59,243

171,624

Accrued expenses

900

825

74,722

176,903

7.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

-

21,611

Deferred

tax

£

Balance at 1 October 2021

21,611

Credit to Income Statement during year

(21,611

)

Balance at 30 September 2022

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

15,000

Ordinary

£1

15,000

15,000

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 October 2021

6,339

113,741

120,080

Profit for the year

102,033

102,033

Dividends

(60,000

)

(60,000

)

Market value adjustment

-

(113,741

)

(113,741

)

At 30 September 2022

48,372

-

48,372

The fair value reserve comprised the difference between the original cost of the financial protection investment bond and the market value of the bond at the balance sheet date.

The original cost of the customer protection bond amounted to £100,000. It was sold in the year realising a gain of £115,413.