Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseHoliday Travel Specialists1120true SC270541 2023-01-01 2023-12-31 SC270541 2022-01-01 2022-12-31 SC270541 2023-12-31 SC270541 2022-12-31 SC270541 c:Director3 2023-01-01 2023-12-31 SC270541 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 SC270541 d:Buildings d:LongLeaseholdAssets 2023-12-31 SC270541 d:Buildings d:LongLeaseholdAssets 2022-12-31 SC270541 d:ComputerEquipment 2023-01-01 2023-12-31 SC270541 d:ComputerEquipment 2023-12-31 SC270541 d:ComputerEquipment 2022-12-31 SC270541 d:CurrentFinancialInstruments 2023-12-31 SC270541 d:CurrentFinancialInstruments 2022-12-31 SC270541 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC270541 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC270541 d:ShareCapital 2023-12-31 SC270541 d:ShareCapital 2022-12-31 SC270541 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC270541 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC270541 c:FRS102 2023-01-01 2023-12-31 SC270541 c:Audited 2023-01-01 2023-12-31 SC270541 c:FullAccounts 2023-01-01 2023-12-31 SC270541 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC270541 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC270541 2 2023-01-01 2023-12-31 SC270541 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: SC270541










THE HOLIDAY SPECIALISTS LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
THE HOLIDAY SPECIALISTS LIMITED
REGISTERED NUMBER: SC270541

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
1
1

  
1
1

Current assets
  

Cash at bank and in hand
 6 
18,091
20,729

  
18,091
20,729

Creditors: amounts falling due within one year
 7 
-
(312,413)

Net current assets/(liabilities)
  
 
 
18,091
 
 
(291,684)

Total assets less current liabilities
  
18,092
(291,683)

  

Net assets/(liabilities)
  
18,092
(291,683)


Capital and reserves
  

Called up share capital 
  
40,000
40,000

Profit and loss account
  
(21,908)
(331,683)

  
18,092
(291,683)


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 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 21 June 2024.on its behalf by:




................................................
J Dobson
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
THE HOLIDAY SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Holiday Specialists Limited is a private company limited by shares and incorporated, domiciled and registered in the UK. The Company number is SC270541. The registered address can be found on the company information page.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which the directors believe to be appropriate for the following reasons.
The Company’s main source of income comes from Barrhead Travel Service Limited, and thus the going concern review of the company is bound up with that of the group headed by Barrhead Travel 2007 Ltd (“the group”), which also includes both Barrhead Travel Service Limited and Travel Transportation Services Limited.
At the year end, the Company had net assets and net current assets of £18k. It manages its day to day and medium-term funding requirements through cash balances and loans from its parent or other group undertakings. 
The directors have prepared projected cash flow information for the eighteen months from the date of approval of these financial statements. These forecasts reflect the Company will have sufficient funds to meet its liabilities as they fall due with the existing bookings to date and expected trading activity in 2024.  
Those forecasts do not require nor include any additional financial support from Travel Leaders Group, LLC, however it has indicated its intentions to continue to support the business and make available such funds as are needed by the company for the period covered by the forecasts.
Based on the above indications, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

  
2.3

Turnover

Turnover represents the value of commissions received as an agency on sales transactions and other revenue earned, excluding value added tax, and is derived entirely from activities within the United Kingdom. Commissions received are recognised as they become due and when collectability is reasonably assured.

Page 2

 
THE HOLIDAY SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

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

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Company in independently administered funds.

 
2.7

Taxation

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 United Kingdom.

 
2.8

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 3

 
THE HOLIDAY SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold costs
-
over the primary period of the lease
Computer equipment
-
10%
on cost

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 at the date of disposal
       with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

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.

 
2.11

Creditors

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

 
2.12

Financial instruments

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

Page 4

 
THE HOLIDAY SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

2023
2022
£
£

Wages and salaries
258,186
473,802

Social security costs
26,107
46,855

Cost of defined contribution scheme
5,534
9,270

289,827
529,927


The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Sales
11
20


4.


Tangible fixed assets





Leasehold costs
Computer equipment
Total

£
£
£





At 1 January 2023
1,714
232,877
234,591


Disposals
(1,714)
(232,877)
(234,591)



At 31 December 2023

-
-
-





At 1 January 2023
1,714
232,877
234,591


Disposals
(1,714)
(232,877)
(234,591)



At 31 December 2023

-
-
-



Net book value



At 31 December 2023
-
-
-



At 31 December 2022
-
-
-

Page 5

 
THE HOLIDAY SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Investments

As at 1 January and 31 December 2022 the cost or valuation of investments in subsidiary companies was £1.
Subsidiary undertaking              Address of Registered Office      Trade                    Ownership
The Cruise Specialists Limited     Libertas House, 5th Floor, 
                                                     39 St. Vincent Place, Glasgow,        Dormant                         100%
                                                     United Kingdom, G1 2ER


6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
18,091
20,729

18,091
20,729



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
1,163

Amounts owed to group undertaking
-
171,435

Other taxation and social security
-
138,530

Accruals and deferred income
-
1,285

-
312,413



8.


Pension commitments

The Company operates defined contribution schemes. The assets of the schemes are held separately from those of the Company in independently administered funds. The pension costs charge represents contributions payable by the Company to these funds and amounted to  £5,534 (2022:£9,270).
Contributions totalling £Nil (2022: £721) were payable to the fund at the balance sheet date and are included in creditors.


9.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the reporting date.

Page 6

 
THE HOLIDAY SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Financial gurantees and indemnities

Lloyds Bank plc holds cross company guarantees from the Company as well as its parent undertaking Barrhead Travel 2007 Limited and a fellow subsidiary Barrhead Travel Service Limited. 


11.


Related party transactions

The Company has taken advantage of exemption under the terms of FRS 102 33.1A, not to disclose related party transactions with wholly owned subsidiaries within the Barrhead Travel 2007 Limited group of companies.


12.


Controlling party

Internova Holdings, LLC is regarded as the ultimate parent company of The Holiday Specialists Limited.
The company is 100% subsidiary of Barrhead Travel 2007 Limited (incorporated in Scotland), which is a 100% subsidiary of Global Travel Collection, LLC (incorporated in the USA).
Global Travel Collection, LLC is a 100% subsidiary of Tzell Holdings, LLC (incorporated in the USA), which is a 100% subsidiary of Travel Leaders Group, LLC (incorporated in the USA).
Travel Leaders Group, LLC is a 100% subsidiary of Travel Leaders Group Holdings, LLC (incorporated in the USA), which is a 100% subsidiary of Internova Holdings, LLC.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 21 June 2024 by Yasin Khandwalla FCCA (Senior statutory auditor) on behalf of Xeinadin Audit Limited.

 
Page 7