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REGISTERED NUMBER: 02454478 (England and Wales)










THE TRAVEL PROFESSIONALS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






THE TRAVEL PROFESSIONALS LIMITED (REGISTERED NUMBER: 02454478)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE TRAVEL PROFESSIONALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr H Handa
Mr N C Patel
K G O'Brien



SECRETARY: Mrs R Agourakis



REGISTERED OFFICE: 69-71 East Street
Epsom
Surrey
KT17 1BP



REGISTERED NUMBER: 02454478 (England and Wales)



SENIOR STATUTORY AUDITOR: Hazel Day BSc ( Hons) FCA DChA



AUDITORS: Xeinadin Auditing
Chartered Accountants and Statutory Auditors
Becket House
36 Old Jewry
London
EC2R 8DD

THE TRAVEL PROFESSIONALS LIMITED (REGISTERED NUMBER: 02454478)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - -
Investments 6 4,973 4,973
4,973 4,973

CURRENT ASSETS
Debtors 7 427,094 508,298
Cash at bank and in hand 438,220 287,499
865,314 795,797
CREDITORS
Amounts falling due within one year 8 384,993 326,533
NET CURRENT ASSETS 480,321 469,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

485,294

474,237

CREDITORS
Amounts falling due after more than one
year

9

296,493

291,493
NET ASSETS 188,801 182,744

CAPITAL AND RESERVES
Called up share capital 1,093,000 1,093,000
Retained earnings (904,199 ) (910,256 )
SHAREHOLDERS' FUNDS 188,801 182,744

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 24 June 2024 and were signed on its behalf by:





Mr N C Patel - Director


THE TRAVEL PROFESSIONALS LIMITED (REGISTERED NUMBER: 02454478)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

The Travel Professionals 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 (£).


All values are rounded to the nearest whole Pound Sterling.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about The Travel Professionals Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Revenue recognition
Revenue is recognised when the significant risks and rewards of ownership have been transferred to the buyer.

Revenue is the total amount receivable by the company for services rendered, excluding value added tax.

Air ticket sales commission and business travel commission is recognised on the booking date basis.

Holiday sales commission is recognised once holidays are paid in full, deposits are handed to the holiday provider intact.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over lease term
Fixtures and fittings - 20% on cost
Office equipment - 20% on cost

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 balance sheet date.


THE TRAVEL PROFESSIONALS LIMITED (REGISTERED NUMBER: 02454478)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Non consolidation of subsidiaries
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company is therefore not required to and has chosen not to prepare group accounts.

Going concern review
The ultimate parent undertaking is World Mate Co. incorporated in Japan. The ultimate parent undertaking has stated that it intends to continue to support the company and consequently the financial statements have been prepared on the going concern basis.

Investments
Investments are included at cost less amounts written off. Profit or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

THE TRAVEL PROFESSIONALS LIMITED (REGISTERED NUMBER: 02454478)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Office
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 3,526 4,289 111,328 119,143
DEPRECIATION
At 1 January 2023
and 31 December 2023 3,526 4,289 111,328 119,143
NET BOOK VALUE
At 31 December 2023 - - - -
At 31 December 2022 - - - -

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 183,898
PROVISIONS
At 1 January 2023
and 31 December 2023 178,925
NET BOOK VALUE
At 31 December 2023 4,973
At 31 December 2022 4,973

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Suncity Travel Limited (Travel Agency)
Registered office: 69-71 East Street, Epsom, Surrey, KT17 1BP
Nature of business: Non trading - Name Protection
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 4,848 4,848

THE TRAVEL PROFESSIONALS LIMITED (REGISTERED NUMBER: 02454478)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 167,546 159,551
Amounts owed by group undertakings 222,870 318,590
Other debtors 8,750 1,750
VAT 1,679 14
Prepayments 26,249 28,393
427,094 508,298

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 94,769 94,357
Social security and other taxes 6,549 6,009
Other creditors 267,250 209,276
Accrued expenses 16,425 16,891
384,993 326,533

Included in trade creditors were BSP outstanding cash sales at the year end amounting to £23,429 (2022: £56,185.)

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other loans 250,000 250,000
Accruals and deferred income 46,493 41,493
296,493 291,493

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 25,200 30,000
Between one and five years 4,200 35,000
29,400 65,000

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

The Report of the Auditors was unqualified.

Hazel Day BSc ( Hons) FCA DChA (Senior Statutory Auditor)
for and on behalf of Xeinadin Auditing

12. RELATED PARTY DISCLOSURES

The company shares premises with its immediate holding company Cosmomate (UK) Limited and a number of related companies. Some expenses are paid by one company and recharged to the others as appropriate.