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REGISTERED NUMBER: 06343676 (England and Wales)














Strategic Report, Report of the Director and

Audited Financial Statements for the Year Ended 31 January 2024

for

ONE TRAVELLER LIMITED

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)






Contents of the Financial Statements
for the year ended 31 JANUARY 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 5

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Notes to the Financial Statements 14


ONE TRAVELLER LIMITED

Company Information
for the year ended 31 JANUARY 2024







DIRECTOR: I Darkin



SECRETARY: E Darkin



REGISTERED OFFICE: 155 Wellingborough Road
RUSHDEN
Northamptonshire
NN10 9TB



REGISTERED NUMBER: 06343676 (England and Wales)



SENIOR STATUTORY AUDITOR: Carl Elsby ACA



AUDITORS: Elsby & Co (Sywell) Ltd
Statutory Auditors
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Strategic Report
for the year ended 31 JANUARY 2024

The director presents his strategic report for the year ended 31 January 2024.

One Traveller Limited is the parent of One Traveller Transport Limited. Together these two companies are effectively managed as a single operating Leisure and Travel business.

The One Traveller Limited Group comprises:
- One Traveller Limited
- One Traveller Transport Limited
- The holding company, Rodina Holdings Limited

One Traveller Limited specialises in providing ATOL protected, escorted group holidays. These holidays are provided throughout the UK, Europe and Worldwide, for solo travellers aged over 50, marketed via physical and online brochures, as well as on their website. It is the company's aim to provide a safe and friendly travelling environment for solo travellers, whilst at the same time enabling them to take in the highlights and experiences that a particular destination has to offer.

The Company's plans for growth include expanding the range of holidays available to include new areas that the Company does not currently offer, and widening the options for its customers. The Company is also looking at special interest holiday, as an area of focus for the future.

REVIEW OF BUSINESS
The Director is pleased with the overall performance and feels that this accounting year has seen the Company bounce back from the impact of the Covid-19 pandemic and the unprecedented challenges resulting from it. The Company has noticed the return of confidence in long-haul travel, as customers are able to have the opportunity to make new friends and explore the world with like-minded solo travellers. This has meant that the Company has had departures across the whole year, including the early and later months of the year.

The gross profit margins have been affected by the falling exchange rates, mainly due to political instability within the UK. The Director is continuing to maintain strong relationships with existing customers and suppliers whilst trying to expand the customer base to limit future risk.

During this period, the war in Israel also affected some of the holidays on offer but the effects of this have been mitigated by offering a diverse range of holidays.

The return and growth of customer confidence has been reflected within the Company through an increase in turnover of 65.4% to £17.3m (2023: £10.4m) and a stronger forward book position than the previous year.

Increased levels of operating activities have resulted in an increase in operating expenses of 80.1% to £16.8m (2023: £9.3m).

Other operating income has increased materially to £1.2m (2023: £0.25m) due to an increase of management fees between One Traveller Limited and its subsidiary, One Traveller Transport Limited, resulting from the increase in non-UK holidays this year.

Overall operating profit for the year has increase by 50.8% to £1.7m. (2023: £1.1m).

As a result, the Company has had a 50.4% increase in profit before taxation, up to £1.8m. (2023: £1.2m).


ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Strategic Report
for the year ended 31 JANUARY 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The Director continually reviews the possible risks to the Company, using a mixture of measures to achieve this. Where possible and relevant, risks to the Company are covered by insurance.

To manage risk, the Director sees cash flow management as a key area. Cash flow forecasts are prepared, monitored and continually updated, to reflect current and anticipated turnover. This helps the Company ensure that all liabilities can be met when they become due. This also helps with any trade creditor risk as this is managed by ensuring that sufficient funds are available to meet the amounts as and when they fall due. The Company has good cash reserves in the bank, which have improved this year by 60.6%. The Company's principal financial instruments consist of bank balances, trade creditors and receivables.

Due to the nature of the European and Worldwide holidays, the Company faces external factors which may affect them, including destination disruption, and/or natural disaster. To help manage this risk, the Company ensures that its portfolio of holidays is diverse. The Company has also expanded its portfolio of rail holidays, as well as cruise holidays, and continue to plan to further expand its range of destinations, to help manage and mitigate this potential risk.

The Company is also at risk of geo-political events affecting the industry in which it operates. Events of terrorism and war, such as the wars between Russia and Ukraine, and Israel and Hamas, can have a significant impact upon customer behaviour and may unexpectedly disrupt the travel industry. To help alleviate this risk, the Company plans its itineraries with care, and offers a geographic spread of destinations within its portfolio.

The Company reviews, and responds quickly, to all global events to minimise its ongoing exposure.

NON-FINANCIAL INFORMATION
The Company prides itself in providing the best holidays possible, for all mature solo travellers and look ahead to providing many more years of great travel experiences for all its customers. This year the Company has been awarded a silver medal at the British Travel Awards in the "Best Travel Company for Singles Holidays" category, adding to its previous accolades.

The Director recognises that its employees are integral to business success, both when working in the UK as well as Overseas. The Company offers an employee benefits package to all its employees and is committed to attracting and retaining employees.

The Director understands the challenges faced by the current cost-of-living crisis and increasing inflation rates. The Director and the Senior Management Team review key risk factors faced by the Company and have a hands-on approach when it comes to day-to-day decision making. Performance is constantly monitored.

The Company recognises the importance of strong relationships with suppliers and as such acknowledges the importance of, and ensures it continues to make, timely and full payments to its suppliers.

The Company is committed to minimising its carbon footprint, as part of its overall strategy to continue to improve its sustainability. To help achieve this goal, the Company produces ecofriendly brochures with potato starch wrapping, all of which are 100% recyclable. Alongside this, all brochures and newsletters are also available to be viewed online. The Company is also committed to reducing the number of plastic bottles it uses, partnering with the excellent "Refill not Landfill" scheme in South-East Asia, to give its customers a viable alternative to plastic. The Company encourages its staff to be more environmentally friendly through its green policies.

The Company is also committed to helping charities close to its heart, achieving this via means of practical support and financial donations, encouraging its staff to participate in charitable activities wherever possible.


ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Strategic Report
for the year ended 31 JANUARY 2024

KEY PERFORMANCE INDICATORS
Change 2024
2024 2023 vs 2023
Number of UK holidays 39 46 -15%
Number of European holidays 112 80 40%
Number of Worldwide holidays 48 23 109%
Total number of holidays 199 149 34%
Number of destinations 36 24 50%

OUTLOOK AND FUTURE PROSPECTS
Even though there have been various input cost pressures and global uncertainties, the Company has remained robust, and consequently, margins per booked passenger have remained satisfactory.

Moving forwards, the company is looking at expanding its range of holidays to not only help improve the variety of choice available to its customers, but to also help improve the diversity of destination and mitigate potential threats. The director feels that the escorted group holidays for solo travellers over 50, is a resilient and popular product, that will continue to remain strong and further grow over the coming years.

ON BEHALF OF THE BOARD:





I Darkin - Director


17 July 2024

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Report of the Director
for the year ended 31 JANUARY 2024

The director presents his report with the financial statements of the company for the year ended 31 January 2024.

DIVIDENDS
Interim dividends totalling £76.38544 per share were paid during the year. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 January 2024 will be £ 2,291,564 .

DIRECTOR
I Darkin held office during the whole of the period from 1 February 2023 to the date of this report.

DONATIONS AND EXPENDITURE
All donations paid out are to local charities and none are of political nature.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Elsby & Co (Sywell) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





I Darkin - Director


17 July 2024

Report of the Independent Auditors to the Members of
One Traveller Limited

Opinion
We have audited the financial statements of One Traveller Limited (the 'company') for the year ended 31 January 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 January 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
One Traveller Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
One Traveller Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We considered the nature of the company's industry and its control environment, and discussed the Company's policies and procedures relating to fraud and compliance with laws and regulations.

We obtained an understanding of the legal and regulatory frameworks that the company operates in, and identified the key laws and regulations that:
- had a direct effect on the determination of material amounts and disclosures in the financial statements; and

-
do not have a direct effect on the financial statements but compliance with which may be fundamental to the
company's ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits under ISAs ( UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

-
reviewing financial statement disclosures by testing to supporting documentation to assess compliance with
provisions of relevant laws and regulations described as having a direct effect on the financial statements;

-
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud;

-
enquiring of management concerning actual and potential litigation and claims, and instances of
non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
One Traveller Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Carl Elsby ACA (Senior Statutory Auditor)
Elsby and Co Elsby & Co (Sywell) Ltd
Statutory Auditors
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB

19 July 2024

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Income Statement
for the year ended 31 JANUARY 2024

2024 2023
Notes £    £    £    £   

TURNOVER 4 17,274,237 10,443,608

Cost of sales 14,383,281 7,734,880
GROSS PROFIT 2,890,956 2,708,728

Administrative expenses 2,450,088 1,599,555
440,868 1,109,173

Other operating income 1,249,500 25,632
OPERATING PROFIT 6 1,690,368 1,134,805

Income from shares in group undertakings 7,000 -
Income from fixed asset investments 351 3,441
Interest receivable and similar income 71,114 9,327
78,465 12,768
1,768,833 1,147,573
Gain/loss on revaluation of investments - 42,078
PROFIT BEFORE TAXATION 1,768,833 1,189,651

Tax on profit 8 374,803 267,480
PROFIT FOR THE FINANCIAL YEAR 1,394,030 922,171

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Other Comprehensive Income
for the year ended 31 JANUARY 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,394,030 922,171


OTHER COMPREHENSIVE INCOME
Revaluation adjustment 283,521 (31,558 )
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR THE
YEAR, NET OF INCOME TAX

283,521

(31,558

)
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

1,677,551

890,613

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Balance Sheet
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 7,566 9,837
Tangible assets 11 267,626 154,138
Investments 12 5,000 1,454,045
Investment property 13 250,000 250,000
530,192 1,868,020

CURRENT ASSETS
Stocks 14 22,124 15,632
Debtors 15 3,155,814 1,804,009
Cash at bank and in hand 5,065,967 3,155,019
8,243,905 4,974,660
CREDITORS
Amounts falling due within one year 16 7,069,024 4,171,845
NET CURRENT ASSETS 1,174,881 802,815
TOTAL ASSETS LESS CURRENT LIABILITIES 1,705,073 2,670,835

CREDITORS
Amounts falling due after more than one
year

17

(13,000

)

(13,000

)

PROVISIONS FOR LIABILITIES 19 (63,112 ) (131,340 )
NET ASSETS 1,628,961 2,526,495

CAPITAL AND RESERVES
Called up share capital 20 30,000 30,000
Fair value reserve 21 1,536 285,057
Retained earnings 21 1,597,425 2,211,438
SHAREHOLDERS' FUNDS 1,628,961 2,526,495

The financial statements were approved by the director and authorised for issue on 17 July 2024 and were signed by:





I Darkin - Director


ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Statement of Changes in Equity
for the year ended 31 JANUARY 2024

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 February 2022 30,000 1,604,825 253,499 1,888,324

Changes in equity
Dividends - (284,000 ) - (284,000 )
Total comprehensive income - 890,613 31,558 922,171
Balance at 31 January 2023 30,000 2,211,438 285,057 2,526,495

Changes in equity
Dividends - (2,291,564 ) - (2,291,564 )
Total comprehensive income - 1,677,551 (283,521 ) 1,394,030
Balance at 31 January 2024 30,000 1,597,425 1,536 1,628,961

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Notes to the Financial Statements
for the year ended 31 JANUARY 2024

1. STATUTORY INFORMATION

One Traveller 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 General Information page.

The principal activity of the Company during the year was the provision of holiday services.

The presentational currency of One Traveller Limited is considered to be pounds sterling and the financial statements are rounded to the nearest pound.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d).

Group financial statements
The financial statements contain information about One Traveller Limited as an individual company and do not contain consolidated financial information as the parent of the group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its ultimate parent, Rodina Holdings Limited, 155 Wellingborough Road, Rushden, NN10 9TB. This is both the smallest and largest group in which One Traveller Limited's accounts are consolidated.

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Notes to the Financial Statements - continued
for the year ended 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Turnover
The Company is a provider of holiday services. Revenue originates solely from customer sales. Revenue is measured at fair value of the consideration received or receivable and is stated net of discounts and value added tax.

(i) Revenue recognition
Revenue in respect of tours and related services, is recognised on the date of departure of the tour, at which point the significant risks and rewards have been transferred to the passenger or the third party.

(ii) Client monies received in advance
Client monies received at the Statement of Financial Position date relating to tours or holidays departing after the year end are deferred and included with trade and other payables. If the date of the departure is in one year or less they are classified as current liabilities, if not, they are presented as non-current liabilities.

Other income
Other income includes; income from asset disposals, rental income and dividend income.

Intangible assets
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised over the following useful economic lives:

- Other intangible assets10 years

If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised prospectively to reflect the new expectations.

If the net fair value of the identifiable assets and liabilities acquired exceeds the cost of a business combination, the excess up to the fair value of non-monetary assets acquired is recognised in the profit or loss in the periods in which the non-monetary assets are recovered. Any excess exceeding fair value of non-monetary assets acquired is recognised in the profit or loss in the periods expected to be benefitted.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks relate to tour/holiday brochures. Stocks are stated at the lower of costs and net realisble value, after making due allowance for obsolete and slow moving items.

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Notes to the Financial Statements - continued
for the year ended 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company 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 non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are addressed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivative financial instruments
Derivative financial instruments are recognised at fair value using a valuation technique with any gains or losses being reported in the profit or loss. Outstanding derivatives at reporting date are included under the appropriate format heading depending on the nature of the derivative.

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.

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.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

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.

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Notes to the Financial Statements - continued
for the year ended 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Fixed asset investments
Investments comprise investments in quoted equity instruments which are measured at fair value. Changes in fair value are recognised in the profit or loss. Fair value is estimated by using a valuation technique.

Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.

Foreign currency transactions and balance
In preparing the financial statements of the Company, transactions in currencies other than the functional currency of the Company are recognised at the spot rate at the dates of the transactions, or at an average rate where this rate approximates the actual rate at the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non monetary items that are measured in terms of historical cost in a foreign currency are not translated.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise.

Finance expenses
Finance expenses recognised in the Statement of Comprehensive Income mainly comprises bank interest and credit card interest.

Going concern
The Director, having assessed the Company's financial position has no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern.Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, which are described in note 2, management is
required to make judgments, estimates and assumptions about the carrying values of assets and liabilities that are not readily separated from other sources. The estimates and underlying assumptions are based on
historical experience and other factors that are considered relevant. Actual results may differ from these
estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revision affects only that period,
or in the period of the revision and future periods if the revision affects both current and future periods.

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Notes to the Financial Statements - continued
for the year ended 31 JANUARY 2024

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 1,420,394 1,239,406
Europe 7,885,663 5,659,901
United States of America 1,936,403 1,410,501
South America 1,215,125 600,744
Asia 3,097,337 1,063,427
Africa 1,719,315 469,629
17,274,237 10,443,608

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 890,315 661,148
Social security costs 73,868 44,746
Other pension costs 137,662 92,681
1,101,845 798,575

The average number of employees during the year was as follows:
2024 2023

Director 1 1
Employees 34 29
35 30

Key management personnel

The total gross remuneration paid to the Key Management Personnel was £206,915. (2023: £160,740).

2024 2023
£    £   
Director's remuneration 9,096 9,054
Director's pension contributions to money purchase schemes 60,000 40,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Notes to the Financial Statements - continued
for the year ended 31 JANUARY 2024

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 11,166 6,505
Depreciation - owned assets 83,763 43,289
Loss/(profit) on disposal of fixed assets 50,188 (14,692 )
Other intangible assets amortisation 2,271 2,271
Foreign exchange differences 3,956 (6,488 )

7. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

31,334

-
Total audit fees 31,334 -

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 443,032 204,994
Corporation tax over provision - 17,927
Total current tax 443,032 222,921

Deferred tax (68,229 ) 44,559
Tax on profit 374,803 267,480

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Notes to the Financial Statements - continued
for the year ended 31 JANUARY 2024

8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,768,833 1,189,651
Profit multiplied by the standard rate of corporation tax in the UK of
24.030% (2023 - 19%)

425,051

226,034

Effects of:
Income not taxable for tax purposes (1,766 ) (653 )
Capital allowances in excess of depreciation (48,482 ) -
Depreciation in excess of capital allowances - 42,099
Total tax charge 374,803 267,480

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Revaluation adjustment 283,521 - 283,521

2023
Gross Tax Net
£    £    £   
Revaluation adjustment (31,558 ) - (31,558 )

From 1 April 2023, the Corporation Tax main rate for non-ring-fenced profits has been increased to 25%.

9. DIVIDENDS
2024 2023
£    £   
Interim 2,291,564 284,000

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Notes to the Financial Statements - continued
for the year ended 31 JANUARY 2024

10. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 22,710
AMORTISATION
At 1 February 2023 12,873
Amortisation for year 2,271
At 31 January 2024 15,144
NET BOOK VALUE
At 31 January 2024 7,566
At 31 January 2023 9,837

11. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 60,062 63,860 154,980 142,544 421,446
Additions - 20,886 138,884 37,481 197,251
At 31 January 2024 60,062 84,746 293,864 180,025 618,697
DEPRECIATION
At 1 February 2023 18,018 41,595 86,852 120,843 267,308
Charge for year 6,007 6,473 51,753 19,530 83,763
At 31 January 2024 24,025 48,068 138,605 140,373 351,071
NET BOOK VALUE
At 31 January 2024 36,037 36,678 155,259 39,652 267,626
At 31 January 2023 42,044 22,265 68,128 21,701 154,138

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Notes to the Financial Statements - continued
for the year ended 31 JANUARY 2024

12. FIXED ASSET INVESTMENTS
Shares in
group Listed
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 February 2023 5,000 1,449,045 1,454,045
Additions - 1,305,071 1,305,071
Disposals - (2,754,116 ) (2,754,116 )
At 31 January 2024 5,000 - 5,000
NET BOOK VALUE
At 31 January 2024 5,000 - 5,000
At 31 January 2023 5,000 1,449,045 1,454,045

Cost or valuation at 31 January 2024 is represented by:

Shares in
group
undertakings
£   
Cost 5,000

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

One Traveller Transport Limited
Registered office: 155 Wellingborough Road, Rushden, Northamptonshire, NN10 9TB
Nature of business: Transport
%
Class of shares: holding
Ordinary 100.00

13. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 250,000
NET BOOK VALUE
At 31 January 2024 250,000
At 31 January 2023 250,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2021 2,048
Cost 247,952
250,000

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Notes to the Financial Statements - continued
for the year ended 31 JANUARY 2024

13. INVESTMENT PROPERTY - continued

Investment property was valued on an open market basis on 31 January 2024 by the director .

14. STOCKS
2024 2023
£    £   
Raw materials and consumables 22,124 15,632

15. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 60,437 41,503
VAT 23,088 193,838
Prepayments 3,022,289 1,568,668
3,105,814 1,804,009

Amounts falling due after more than one year:
Other debtors 50,000 -

Aggregate amounts 3,155,814 1,804,009

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account 6,559,622 3,753,728
Trade creditors 218,686 106,960
Tax 112,922 204,994
Social security and other taxes 21,505 15,576
Other creditors 127,876 82,499
Directors' current accounts 1,488 1,588
Accrued expenses 26,925 6,500
7,069,024 4,171,845

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Subordinated loan 13,000 13,000

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Notes to the Financial Statements - continued
for the year ended 31 JANUARY 2024

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 70,000
Between one and five years - 35,000
- 105,000

19. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 63,112 131,340

Deferred
tax
£   
Balance at 1 February 2023 131,340
Provided during year (68,228 )
Balance at 31 January 2024 63,112

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30,000 Ordinary £1 30,000 30,000

21. RESERVES

The following describes the nature and purpose of each reserve within equity:

ReserveDescription and purpose

Retained earnings
All other net gains and losses and transactions with owners (e.g. dividends) not
recognised elsewhere.
Fair value reserveNet gains and losses on revaluation of fixed asset investments.

22. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 990,000 -

The company entered into a capital commitment at the year end to purchase a property for £1,080,000. The company had paid the initial deposit before the year end.

ONE TRAVELLER LIMITED (REGISTERED NUMBER: 06343676)

Notes to the Financial Statements - continued
for the year ended 31 JANUARY 2024

23. RELATED PARTY DISCLOSURES

One Traveller Limited has taken advantage of the provisions under section 33.1A of FRS 102 and has not disclosed transactions with wholly owned subsidiaries.

24. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I Darkin.

At 31 January 2024, the ultimate parent company was Rodina Holdings Ltd. The registered office for the ultimate company was 155 Wellingborough Road, Rushden, NN10 9TB.

At 31 January 2024, Rodina Holdings Ltd was under control of I Darkin.