Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-312022-03-31false2021-04-01falseTour operator activitiestrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01615851 2021-04-01 2022-03-31 01615851 2020-04-01 2021-03-31 01615851 2022-03-31 01615851 2021-03-31 01615851 c:Director1 2021-04-01 2022-03-31 01615851 d:Buildings 2021-04-01 2022-03-31 01615851 d:Buildings 2022-03-31 01615851 d:Buildings 2021-03-31 01615851 d:Buildings d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 01615851 d:LandBuildings 2022-03-31 01615851 d:LandBuildings 2021-03-31 01615851 d:MotorVehicles 2021-04-01 2022-03-31 01615851 d:MotorVehicles 2022-03-31 01615851 d:MotorVehicles 2021-03-31 01615851 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 01615851 d:FurnitureFittings 2021-04-01 2022-03-31 01615851 d:FurnitureFittings 2022-03-31 01615851 d:FurnitureFittings 2021-03-31 01615851 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 01615851 d:OtherPropertyPlantEquipment 2021-04-01 2022-03-31 01615851 d:OtherPropertyPlantEquipment 2022-03-31 01615851 d:OtherPropertyPlantEquipment 2021-03-31 01615851 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 01615851 d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 01615851 d:CurrentFinancialInstruments 2022-03-31 01615851 d:CurrentFinancialInstruments 2021-03-31 01615851 d:Non-currentFinancialInstruments 2022-03-31 01615851 d:Non-currentFinancialInstruments 2021-03-31 01615851 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 01615851 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 01615851 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 01615851 d:Non-currentFinancialInstruments d:AfterOneYear 2021-03-31 01615851 d:ShareCapital 2022-03-31 01615851 d:ShareCapital 2021-03-31 01615851 d:RevaluationReserve 2021-04-01 2022-03-31 01615851 d:RevaluationReserve 2022-03-31 01615851 d:RevaluationReserve 2021-03-31 01615851 d:ForeignCurrencyTranslationReserve 2021-04-01 2022-03-31 01615851 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 01615851 d:RetainedEarningsAccumulatedLosses 2022-03-31 01615851 d:RetainedEarningsAccumulatedLosses 2021-03-31 01615851 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 01615851 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-03-31 01615851 c:FRS102 2021-04-01 2022-03-31 01615851 c:Audited 2021-04-01 2022-03-31 01615851 c:FullAccounts 2021-04-01 2022-03-31 01615851 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 01615851 d:Subsidiary1 2021-04-01 2022-03-31 01615851 d:Subsidiary1 1 2021-04-01 2022-03-31 01615851 d:Subsidiary2 2021-04-01 2022-03-31 01615851 d:Subsidiary2 1 2021-04-01 2022-03-31 01615851 d:Subsidiary3 2021-04-01 2022-03-31 01615851 d:Subsidiary3 1 2021-04-01 2022-03-31 01615851 d:Subsidiary4 2021-04-01 2022-03-31 01615851 d:Subsidiary4 1 2021-04-01 2022-03-31 01615851 d:Subsidiary5 2021-04-01 2022-03-31 01615851 d:Subsidiary5 1 2021-04-01 2022-03-31 01615851 d:Subsidiary6 2021-04-01 2022-03-31 01615851 d:Subsidiary6 1 2021-04-01 2022-03-31 01615851 d:WithinOneYear 2022-03-31 01615851 d:WithinOneYear 2021-03-31 01615851 c:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 01615851 c:Consolidated 2022-03-31 01615851 c:ConsolidatedGroupCompanyAccounts 2021-04-01 2022-03-31 01615851 2 2021-04-01 2022-03-31 01615851 5 2021-04-01 2022-03-31 01615851 6 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 01615851










TRANSUN TRAVEL LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

 
TRANSUN TRAVEL LIMITED
 

CONTENTS



Page
Consolidated Statement of Financial Position
1 - 2
Company Statement of Financial Position
3 - 4
Notes to the Financial Statements
5 - 20


 
TRANSUN TRAVEL LIMITED
REGISTERED NUMBER: 01615851

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022

2022
2021
£
£

Fixed assets
  

Intangible assets
 6 
7,028
7,321

Tangible assets
 7 
2,407,035
2,494,572

  
2,414,063
2,501,893

Current assets
  

Debtors: amounts falling due within one year
 9 
1,073,402
3,276,276

Cash at bank and in hand
 10 
2,673,631
1,679,017

  
3,747,033
4,955,293

Creditors: amounts falling due within one year
 11 
(2,389,324)
(3,197,513)

Net current assets
  
 
 
1,357,709
 
 
1,757,780

Total assets less current liabilities
  
3,771,772
4,259,673

Creditors: amounts falling due after more than one year
 12 
(209,500)
(209,500)

Provisions for liabilities
  

Deferred taxation
  
(14,760)
(14,760)

  
 
 
(14,760)
 
 
(14,760)

Net assets
  
3,547,512
4,035,413

Page 1

 
TRANSUN TRAVEL LIMITED
REGISTERED NUMBER: 01615851
    
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Capital and reserves
  

Called up share capital 
  
50,000
50,000

Revaluation reserve
 14 
749,579
749,579

Foreign exchange reserve
 14 
(712,830)
(711,537)

Profit and loss account
 14 
3,376,502
3,863,110

Equity attributable to owners of the parent Company
  
3,463,251
3,951,152

Non-controlling interests
  
84,261
84,261

  
3,547,512
4,035,413


The Group's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Kostich
Director

Date: 28 July 2022

The notes on pages 5 to 20 form part of these financial statements.

Page 2

 
TRANSUN TRAVEL LIMITED
REGISTERED NUMBER: 01615851

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 6 
7,028
7,321

Tangible assets
 7 
1,130,667
1,139,183

Investments
 8 
1,032,749
1,032,749

  
2,170,444
2,179,253

Current assets
  

Debtors: amounts falling due within one year
 9 
2,615,775
4,785,120

Cash at bank and in hand
 10 
2,558,711
1,492,231

  
5,174,486
6,277,351

Creditors: amounts falling due within one year
 11 
(2,113,297)
(2,873,423)

Net current assets
  
 
 
3,061,189
 
 
3,403,928

Total assets less current liabilities
  
5,231,633
5,583,181

  

Creditors: amounts falling due after more than one year
 12 
(209,500)
(209,500)

Provisions for liabilities
  

Deferred taxation
  
(14,760)
(14,760)

  
 
 
(14,760)
 
 
(14,760)

Net assets
  
5,007,373
5,358,921

Page 3

 
TRANSUN TRAVEL LIMITED
REGISTERED NUMBER: 01615851
    
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2022

2022
2021
Note
£
£


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Revaluation reserve
 14 
749,579
749,579

Profit and loss account
 14 
4,207,794
4,559,342

  
5,007,373
5,358,921


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Kostich
Director

Date: 28 July 2022

The notes on pages 5 to 20 form part of these financial statements.

Page 4

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

Transun Travel Limited is a private company limited by shares incorporated in England and Wales.
The address of the registered office is given in the company information of these financial statements.
The nature of the company's operations and principal activities are that of a tour operator.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Going concern

The Group has recovered well from the Coronavirus pandemic with business returning to pre pandemic levels. The directors consider it appropriate to prepare the financial statements on a going concern basis.

Page 5

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Group's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

 
2.5

Revenue

Turnover represents amounts receivable and received for holidays travelled in the year excluding value added tax. Income and related costs are recognised on a departure date basis. Other turnover is recognised when the amount can be reliably measured and it is probable that future economic benefits will flow to the entity.  

  
2.6

Advance holiday payments and receipts

All revenue relating to tours with departure dates after the year end are treated as advance receipts at the balance sheet date and disclosed within accruals and deferred income. Payments made to suppliers in respect of future tours are included within other debtors

Page 6

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

  
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the consolidated profit and loss account in the same period as the related expenditure.
During the year the UK Companies benefited from taking advantage of the UK government Job Retention Scheme.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.

Page 7

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.13

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.14

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 8

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)


2.14
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Land is not depreciated..

Depreciation is provided on the following basis:

Freehold property
-
2.5%
Motor vehicles
-
25%
Fixtures and fittings
-
15-25%
Website development
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.15

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.16

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments held in foreign subsidiaries are measured at fair value in GBP using the exchange rates at the date when the fair value was determined as per FRS102.30.9.

 
2.17

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 9

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.18

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.19

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.20

Provisions for liabilities

Provisions are made where an event has taken place that gives the Group a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Group becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.21

Financial instruments

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.22

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Other operating income - Government grants receivable

2022
2021
£
£

Coronavirus Job Retention Scheme
41,432
127,507

41,432
127,507


Page 10

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

4.


Employees

The average monthly number of employees, including directors, during the year was 8 (2021 - 9).


5.


Dividends

2022
2021
£
£


Dividends
1,100,000
-

1,100,000
-


6.


Intangible assets

Group and Company





Computer software

£



Cost


At 1 April 2021
7,889



At 31 March 2022

7,889



Amortisation


At 1 April 2021
568


Charge for the year on owned assets
293



At 31 March 2022

861



Net book value



At 31 March 2022
7,028



At 31 March 2021
7,321



Page 11

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

7.


Tangible fixed assets

Group






Land and buildings
Motor vehicles
Fixtures, fittings and equipment
Website development
Total

£
£
£
£
£



Cost or valuation


At 1 April 2021
3,378,462
17,922
396,597
73,445
3,866,426


Additions
-
18,736
748
-
19,484


Disposals
-
(17,254)
(3,356)
-
(20,610)


Exchange adjustments
(54,833)
-
1,092
-
(53,741)



At 31 March 2022

3,323,629
19,404
395,081
73,445
3,811,559



Depreciation


At 1 April 2021
960,795
15,171
346,142
49,746
1,371,854


Charge for the year on owned assets
42,664
3,019
9,362
5,924
60,969


Disposals
-
(14,789)
(3,355)
-
(18,144)


Exchange adjustments
(11,720)
-
1,565
-
(10,155)



At 31 March 2022

991,739
3,401
353,714
55,670
1,404,524



Net book value



At 31 March 2022
2,331,890
16,003
41,367
17,775
2,407,035



At 31 March 2021
2,417,667
2,751
50,455
23,699
2,494,572




The net book value of land and buildings may be further analysed as follows:


2022
2021
£
£

Freehold
2,331,890
2,417,667

2,331,890
2,417,667




Page 12

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

           7.Tangible fixed assets (continued)

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2022
2021
£
£

Group


Cost
3,419,256
3,419,256

Accumulated depreciation
(1,042,704)
(1,000,040)

Net book value
2,376,552
2,419,216

Page 13

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

           7.Tangible fixed assets (continued)


Company






Land and buildings
Motor vehicles
Fixtures, fittings and equipment
Website development
Total

£
£
£
£
£

Cost or valuation


At 1 April 2021
1,387,557
17,254
252,505
73,445
1,730,761


Additions
-
18,736
-
-
18,736


Disposals
-
(17,254)
-
-
(17,254)



At 31 March 2022

1,387,557
18,736
252,505
73,445
1,732,243



Depreciation


At 1 April 2021
310,976
14,503
216,353
49,746
591,578


Charge for the year on owned assets
7,336
3,019
8,508
5,924
24,787


Disposals
-
(14,789)
-
-
(14,789)



At 31 March 2022

318,312
2,733
224,861
55,670
601,576



Net book value



At 31 March 2022
1,069,245
16,003
27,644
17,775
1,130,667



At 31 March 2021
1,076,581
2,751
36,152
23,699
1,139,183





The net book value of land and buildings may be further analysed as follows:


2022
2021
£
£

Freehold
1,069,245
1,076,581

1,069,245
1,076,581


The freehold property at 1A Iffley Road was revalued by Aitchison Raffety Chartered Surveyor, as at 18 June 2020. The valuation was done on the basis of open market value. 

Page 14

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

8.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2021
1,032,749



At 31 March 2022
1,032,749






Net book value



At 31 March 2022
1,032,749



At 31 March 2021
1,032,749

Page 15

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

           8.Fixed asset investments (continued)


Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Transun Flights Limited
1a Iffley Road, Oxford, Oxfordshire, United Kingdom, OX4 1AS
Ordinary
100%
Transun Retail Limited
1a Iffley Road  Oxford  OX4 1AS  United Kingdom
Ordinary
 100%
TTM (Thailand) Co., Ltd
87/2 Building CRC Tower All Season Floor 33 Thanon Witthayu Bang Na  Bangkok Thailand
Ordinary
100%
TTM (Thailand) Co., Ltd
Preference
5%
NUI International Company Limited
87/2 Building 
CRC Tower All Season Floor 33
 Thanon Witthayu 
Bang Na  
Bangkok 
Thailand
Ordinary
12%
TTM Holdings Co., Ltd. *
200/4 Mu 2 Thanon Hadchaweang
Bang Na
Bangkok
Thailand
Ordinary
99.97%

In turn, TTM Holdings Co., Ltd  owns 88% of the ordinary shares and 100% of the preference shares in NUI International Company Limited, giving Transun Travel Limited 100% of the voting rights and control of NUI International Company Limited.
Transun Flights Limited carries out flight purchasing operations. NUI invests in real estate and engages in resort and hotel operations in Thailand. TTM Holdings Co., Ltd is a sub holding company. TTM (Thailand) Co., Ltd acts as a travel agency.

Page 16

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

9.


Debtors

Group
Group
Company
Company
2022
2021
2022
2021
£
£
£
£


Trade debtors
117,626
465
117,169
-

Amounts owed by group undertakings
-
-
1,670,712
1,626,908

Other debtors
569,749
2,890,643
441,867
2,773,223

Prepayments and accrued income
27,762
43,453
27,762
43,274

Tax recoverable
358,265
341,715
358,265
341,715

1,073,402
3,276,276
2,615,775
4,785,120


Other debtors  includes includes payments in advance to suppliers of £18,763 (2021: £1,317,506) which relate to bookings departing after the year end.


10.


Cash and cash equivalents

Group
Group
Company
Company
2022
2021
2022
2021
£
£
£
£

Cash at bank and in hand
2,673,631
1,679,017
2,558,711
1,492,231

Less: bank overdrafts
-
(15)
-
-

2,673,631
1,679,002
2,558,711
1,492,231


Page 17

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

11.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2022
2021
2022
2021
£
£
£
£

Bank overdrafts
-
15
-
-

Other loans
44,171
-
-
-

Trade creditors
49,905
162,308
49,893
162,294

Amounts owed to group undertakings
-
-
65,000
-

Corporation tax
101,270
1,670
99,600
-

Other taxation and social security
43,993
6,740
42,611
5,335

Other creditors
359,185
310,721
104,716
844

Accruals and deferred income
1,790,800
2,716,059
1,751,477
2,704,950

2,389,324
3,197,513
2,113,297
2,873,423


Accruals and deferred income includes advance receipts from customers for future travel amounting to £1,552,537 (2021: £2,580,674).
Svenska Handelsbanken Ab (Publ) hold a security over the cash deposits held within their bank accounts, to a value of £25,000, in relation to a bond for IATA.


12.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2022
2021
2022
2021
£
£
£
£

Other creditors
209,500
209,500
209,500
209,500

209,500
209,500
209,500
209,500


The rate of interest being applied to the borrowing is 1.75% over ther clearing banks base rate.


13.


Financial instruments

Group
Group
Company
Company
2022
2021
2022
2021
£
£
£
£

Financial assets

Financial assets measured at fair value through profit or loss
2,673,631
1,679,017
1,446,405
1,492,231




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.

Page 18

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

14.


Reserves

Revaluation reserve

Revaluation reserve records the surplus arising on the valuation of property held for own use of the company in prior years.

Foreign exchange reserve

Foreign exchange reserve records the difference between translated values of assets and liabilities of foreign operations into the entity's functional currency.

Profit and loss account

Profit and loss included all current and prior periods retained profit.


15.


Contingent liabilities

The Company currently holds an Air Travel Organiser's License (ATOL) issued by the Civil Aviation Authority (CAA).


16.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group  in an independently administered fund. The pension cost charge represents contributions payable by the Group  to the fund and amounted to £7,413 (2021: £6,170). Contributions totalling £5,954 (2021: £844) were payable to the fund at the balance sheet date and are included in creditors.


17.


Commitments under operating leases

At 31 March 2022 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2022
2021
2022
2021
£
£
£
£

Not later than 1 year
19,200
19,200
19,200
19,200

19,200
19,200
19,200
19,200
Page 19

 
TRANSUN TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

18.


Related party transactions

During the year the group advanced £13,334 (2021: £12,098) to a director and shareholder of the company and repayments in the year totalled £183,971 (2021: £64,549). Dividends were declared amounting to £1,100,000 (2020: £nil). At the year end the Company owed the director £307,502 (2021: £963,135 owed from the director) to the group. No interest is charged on this balance.
Commitments under non-cancellable operating leases include a 15 year lease, which commenced on 1 October 2008, with an annual value of £19,200. The lease operates between the group and the director.
On 16 February 2004 the group borrowed £209,500 from the director's pension fund. The loan is at an interest rate of 1.75% over the clearing bank's base rate. The pension fund has not sought repayment and the group is currently looking to extend the credit period for another fixed term.
As at the year end, the Company was owed £1,670,712 (2021: £1,626,908) by the Thai entities within the Group.
Transun Flights Limited, a fellow group Company, were owed £65,000 (2021: £nil) by the Company as at the year end. 
The Group has taken the exemption available to not disclose transactions within the year, between wholly owned subsidiaries.


19.


Controlling party

The ultimate controlling party is P Kostich by virtue of his shareholding.


20.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2022 was unqualified.

The audit report was signed on 28 July 2022 by Karanjit Gill FCCA (Senior Statutory Auditor) on behalf of Xeinadin Audit Limited t/a Elman Wall.

 
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