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Registered number: SC162396










OSPREY HOLIDAYS (TICKETS) LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
OSPREY HOLIDAYS (TICKETS) LIMITED
 

CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 5


 
OSPREY HOLIDAYS (TICKETS) LIMITED
REGISTERED NUMBER: SC162396

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

As restated
2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
76,217
72,440

Cash at bank and in hand
 5 
1,259
1,383

  
77,476
73,823

Creditors: amounts falling due within one year
 6 
(953)
(1,098)

Net current assets
  
 
 
76,523
 
 
72,725

Total assets less current liabilities
  
76,523
72,725

  

Net assets
  
76,523
72,725


Capital and reserves
  

Called up share capital 
 7 
40,000
40,000

Profit and loss account
 8 
36,523
32,725

  
76,523
72,725


The 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 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 on 9 July 2024.




J B Bennett
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
OSPREY HOLIDAYS (TICKETS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Osprey Holidays (Tickets) Limited is a private company limited by shares and registered in Scotland. Registered number SC162396. Its principal place of business and registered office is 21 Logie Mill, Edinburgh, EH7 4HG.

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 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.

 
2.2

Going concern

The directors have prepared forecasts taking into account their assessment of the performance of the business and are confident that the Company will be able to continue to meet their liabilities as they fall due for a period of not less than 12 months from the date these accounts are signed. 
The directors consider it appropriate to prepare the financial statements on a going concern basis as a result.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company'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 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'.

Page 2

 
OSPREY HOLIDAYS (TICKETS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Turnover

Turnover, in respect of the sales of tickets during the year, is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excludsing discounts, rebates, value added tax and other sales taxes.

 
2.5

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 countries where the Company operates and generates income.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 3

 
OSPREY HOLIDAYS (TICKETS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
10,725
72,437

Other debtors
65,492
3

76,217
72,440



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,259
1,383

1,259
1,383



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
953
1,098

953
1,098



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



40,000 (2023 - 40,000) Ordinary shares of £1.00 each
40,000
40,000



8.


Reserves

Profit and loss account

The profit and loss account includes all current and prior periods' retained profits and losses net of dividends paid.

Page 4

 
OSPREY HOLIDAYS (TICKETS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Restatement of comparitives

During the year the company made a restatement to prior year figures. This had no impact on the profit and loss reserves.


10.


Commitments under operating leases

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


11.


Related party transactions

As a wholly owned subsidiary of Osprey Holidays Limited, advantage has been taken of the exemption granted by FRS 102 not to report details of the transactions with entities which are controlled by a common parent undertaking.


12.


Post balance sheet events

The directors have concluded that no material events have occurred since the date of approval of these financial statements that would affect the financial statements of teh company.


13.


Controlling party

The Company's parent undertaking is Osprey Holidays Limited, a company registered in Scotland. J B Bennett is considered to be the company's ultimate controlling party by virtue of his majority shareholding in Osprey Holidays Limited.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 9 July 2024 by Karanjit Gill FCCA (Senior statutory auditor) on behalf of Xeinadin Audit Limited.

 
Page 5