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Registered number: 14288416










TRAVELSKI UK LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
TRAVELSKI UK LIMITED
REGISTERED NUMBER: 14288416

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
20,028
4,085

Cash at bank and in hand
  
287,940
9,677

  
307,968
13,762

Creditors: amounts falling due within one year
 6 
(224,023)
(3,500)

Net current assets
  
 
 
83,945
 
 
10,262

Total assets less current liabilities
  
83,945
10,262

Creditors: amounts falling due after more than one year
 7 
(678)
(15,445)

  

Net assets/(liabilities)
  
83,267
(5,183)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
83,266
(5,184)

  
83,267
(5,183)


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 by: 




N Delord
Director

Date: 11 March 2025

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

Page 1

 
TRAVELSKI UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

TravelSki UK Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. 
The address of the registed office is 8th Floor, Becket House, 36 Old Jewry, London, EC2R 8DD.
The principal activity of the company continued to be that of a tour operator specialising in skiing holidays.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

As part of their assessment of going concern, the directors of the company have considered the liquidity position and funding requirements for at least 12 months from the date of approval of these financial statements. The directors consider it appropriate to prepare the financial statement on a going concern basis.

 
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

 
TRAVELSKI UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Turnover represents amounts receivable from the sales of transport, accommodation and ski passes supplied to customers net of VAT. Revenue and expenses are taken to the profit and loss account on date of departure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

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.


  
2.7

Advanced receipts and payments

All revenue relating to bookings that depart after the balance sheet date is treated as advanced receipts and is separately disclosed under accruals and deferred income.
Payments made to suppliers relating to bookings that depart after the balance sheet date are treated as advance payments and are separately disclosed under prepayments and accrued income.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
Page 3

 
TRAVELSKI UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

financial assets and liabilities like trade and other debtors and creditors and loans to related parties.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.


4.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
3,391
-

Other debtors
2,530
-

Prepayments and accrued income
14,107
4,085

20,028
4,085



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
24,919
-

Other creditors
6,000
-

Accruals and deferred income
193,104
3,500

224,023
3,500


Deferred income includes advance receipts from customers for future travel amounting to £170,145 (2023: £Nil).

Page 4

 
TRAVELSKI UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
678
15,445

678
15,445



8.


Contingent liabilities

The Company is a member of the Association of British Travel Agents ("ABTA"). The Company has given guarantees to third parties amounting to £562,256 in respect of ABTA tour operator bonding. These guarantees will be called upon in the event of the financial failure of the Company.


9.


Related party transactions

The company has taken advantage of the FRS 102 exemption not to disclose related party transactions in the year with companies that are wholy owned within the group.
As at 30 September 2024, the company was owed £3,391 (2023: £NIL) by Snowtime B.V., its fellow subsidiary. 
As at 30 September 2024, the company owed £678 (2023: £15,445) to Travelfactory SAS, its parent company.


10.


Ultimate Controlling Party

The ultimate controlling party is Travelfactory SAS, a company incorporated in France.


11.


Auditors' information

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

The audit report was signed on 11 March 2025 by Yasin Khandwalla (Senior Statutory Auditor) on behalf of Xeinadin Audit Limited.

 
Page 5