COMPANY REGISTRATION NUMBER:
SC373558
Alpine Travel International Limited |
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Filleted Unaudited Financial Statements |
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Alpine Travel International Limited |
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Statement of Financial Position |
|
30 April 2024
Current assets
Debtors |
5 |
1,409,978 |
1,960,591 |
Investments |
6 |
999 |
999 |
Cash at bank and in hand |
1,679,820 |
931,534 |
|
------------ |
------------ |
|
3,090,797 |
2,893,124 |
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|
|
|
Creditors: amounts falling due within one year |
7 |
1,052,220 |
1,465,681 |
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------------ |
------------ |
Net current assets |
2,038,577 |
1,427,443 |
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------------ |
------------ |
Total assets less current liabilities |
2,038,577 |
1,427,443 |
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
300,145 |
300,145 |
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------------ |
------------ |
Net assets |
1,738,432 |
1,127,298 |
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------------ |
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|
|
|
Capital and reserves
Called up share capital |
1 |
1 |
Profit and loss account |
1,738,431 |
1,127,297 |
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Shareholders funds |
1,738,432 |
1,127,298 |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Alpine Travel International Limited |
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Statement of Financial Position (continued) |
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30 April 2024
These financial statements were approved by the
board of directors
and authorised for issue on
13 January 2025
, and are signed on behalf of the board by:
Mr Michael Stuart Murphy |
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Director |
|
|
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Company registration number:
SC373558
Alpine Travel International Limited |
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Notes to the Financial Statements |
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Year ended 30 April 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 5a St Colme Street, Edinburgh, EH3 6AA.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
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. The financial statements have been prepared under the historical cost convention.
Disclosure exemptions
No cash flow statement has been presented for the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable in relation ski tours, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised on the customer departure date.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Operating leases
Rentals
paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets that are measured at cost and amortised cost are assessed 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 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.
Defined contribution plans
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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2023:
5
).
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
498,239 |
859,647 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
907,492 |
949,012 |
Other debtors |
4,247 |
151,932 |
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1,409,978 |
1,960,591 |
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6.
Investments
|
2024 |
2023 |
|
£ |
£ |
Alpine Travel Limited |
999 |
999 |
|
---- |
---- |
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|
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7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
368 |
– |
Corporation tax |
148,939 |
43,676 |
Social security and other taxes |
538 |
339 |
Other creditors |
902,375 |
1,421,666 |
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|
1,052,220 |
1,465,681 |
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------------ |
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|
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8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Other creditors |
300,145 |
300,145 |
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--------- |
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9.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
|
2024 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr Michael Stuart Murphy |
252,858 |
24,701 |
277,559 |
|
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2023 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr Michael Stuart Murphy |
231,217 |
21,641 |
252,858 |
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10.
Related party transactions
The company has taken advantage of the exemption under FRS 102, Section 33 'Related Party Transactions', in relation to disclosing transactions with wholly owned group members. Included within "Other creditors" is a loan of £277,559 (2022: £252,858) due to the director. The loan is interest free and no terms of repayment have been agreed. Security
Alpine Travel International Limited
has granted a floating charge to Barclays Bank over all assets as security for all debts and liabilities owed. Guarantee Alpine Travel International Limited
has provided a guarantee to Barclays Bank for all amounts due by Stuart Murphy Limited, a company under the control of the director. Under the terms of this guarantee, Alpine Travel International Limited
are required to meet the obligations of Stuart Murphy Limited should it not be able to do so as they fall due. The balance due by Stuart Murphy Limited to Barclays Bank at 30th April 2024 was £450,319.