HIDDEN TRAVEL (FLIGHTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
As disclosed in the Directors' Report, the Company's principal activity during the year continued to be that of a transport provider to its holding company, Hidden Travel Group Limited, under the TOMS VAT Transport Company Scheme.
The Company is a private company limited by shares and is incorporated in England. The address of the Company's principal place of business, being the same as the registered office stated on the Company Information page, is:
Whittington Hall
Whittington Road
Worcester
WR5 2ZX
2.Accounting policies
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Basis of preparation of financial statements
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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.
The following principal accounting policies have been applied:
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.
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.
The Company benefits from the continued financial support of the Hidden Travel Group. The Group has prepared budgets and cashflow forecasts to Septemer 2027 which reflect good operational liquidity and profitability.
As a result, and with the Company continuing to receive the full support of its Group, the directors believe that it is still appropriate to apply the going concern basis for the foreseeable future.
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