12 26 February 2025 false false false false false false false false false false true false false false false true true false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 617,403 617,403 617,403 16,233 2,685 13,548 xbrli:pure xbrli:shares iso4217:GBP 07507940 2024-01-01 2024-12-31 07507940 2024-12-31 07507940 2023-12-31 07507940 2023-01-01 2023-12-31 07507940 2023-12-31 07507940 2022-12-31 07507940 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 07507940 bus:Director1 2024-01-01 2024-12-31 07507940 core:DeferredTaxation 2024-01-01 2024-12-31 07507940 core:WithinOneYear 2024-12-31 07507940 core:WithinOneYear 2023-12-31 07507940 core:ShareCapital 2024-12-31 07507940 core:ShareCapital 2023-12-31 07507940 core:OtherReservesSubtotal 2024-12-31 07507940 core:OtherReservesSubtotal 2023-12-31 07507940 core:RetainedEarningsAccumulatedLosses 2024-12-31 07507940 core:RetainedEarningsAccumulatedLosses 2023-12-31 07507940 core:BetweenOneFiveYears 2024-12-31 07507940 core:BetweenOneFiveYears 2023-12-31 07507940 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 07507940 core:Non-currentFinancialInstruments 2024-12-31 07507940 core:Non-currentFinancialInstruments 2023-12-31 07507940 core:AcceleratedTaxDepreciationDeferredTax 2024-12-31 07507940 core:DeferredTaxation 2024-12-31 07507940 bus:SmallEntities 2024-01-01 2024-12-31 07507940 bus:Audited 2024-01-01 2024-12-31 07507940 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07507940 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07507940 bus:FullAccounts 2024-01-01 2024-12-31 07507940 bus:OrdinaryShareClass1 2024-12-31 07507940 bus:OrdinaryShareClass1 2023-12-31 07507940 core:LeaseholdImprovements 2024-01-01 2024-12-31 07507940 core:ComputerEquipment 2023-12-31 07507940 core:ComputerEquipment 2024-01-01 2024-12-31 07507940 core:ComputerEquipment 2024-12-31 07507940 core:LeaseholdImprovements 2024-12-31
COMPANY REGISTRATION NUMBER: 07507940
RSD Travel Limited
Filleted Financial Statements
31 December 2024
RSD Travel Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
RSD Travel Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
54,190
Investments
6
617,403
617,403
---------
---------
671,593
617,403
Current assets
Debtors
7
171,912
245,464
Cash at bank and in hand
5,214,952
6,610,926
------------
------------
5,386,864
6,856,390
Creditors: amounts falling due within one year
8
4,225,113
2,514,869
------------
------------
Net current assets
1,161,751
4,341,521
------------
------------
Total assets less current liabilities
1,833,344
4,958,924
Provisions
9
13,548
------------
------------
Net assets
1,819,796
4,958,924
------------
------------
Capital and reserves
Called up share capital
12
604,000
604,000
Other reserves
13
613,403
613,403
Profit and loss account
13
602,393
3,741,521
------------
------------
Shareholders funds
1,819,796
4,958,924
------------
------------
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 statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 26 February 2025 , and are signed on behalf of the board by:
Mr K Adab
Director
Company registration number: 07507940
RSD Travel Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 159a Chase Side, Enfield, EN2 0PW. The main place of business is Long Acre Barn, Pury Hill Business Park, Near Alderton, Towcester NN12 7LS.
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
The financial statements have been prepared on the historical cost basis. The functional currency of the company is GBP.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of First Voyages France GmbH which can be obtained from Beim Alten Ausbesserungswerk 4, 77654 Offenburg, Germany. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of an EEA State.
Judgements and key sources of estimation uncertainty
In producing these accounts the directors have considered accounting policies & relevant estimates. In the directors opinion and to the best of their knowledge significant accounting entries are based upon facts. However, these accounts do include estimates in relation to useful life of assets, deferred tax provision and immaterial prepayments and accruals.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for travel services rendered, net of discounts and Value Added Tax. Revenue from the sale of travel is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue is recognised on the date of return from travel.
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
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Equipment
-
20% - 33% straight line
Leasehold improvements
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 14 ).
5. Tangible assets
Equipment
Leasehold Improvements
Total
£
£
£
Cost
At 1 January 2024
162,902
162,902
Additions
58,102
11,473
69,575
---------
--------
---------
At 31 December 2024
221,004
11,473
232,477
---------
--------
---------
Depreciation
At 1 January 2024
162,902
162,902
Charge for the year
13,855
1,530
15,385
---------
--------
---------
At 31 December 2024
176,757
1,530
178,287
---------
--------
---------
Carrying amount
At 31 December 2024
44,247
9,943
54,190
---------
--------
---------
At 31 December 2023
---------
--------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 January 2024 and 31 December 2024
617,403
---------
Impairment
At 1 January 2024 and 31 December 2024
---------
Carrying amount
At 31 December 2024
617,403
---------
At 31 December 2023
617,403
---------
7. Debtors
2024
2023
£
£
Trade debtors
65,321
124,876
Other debtors
106,591
120,588
---------
---------
171,912
245,464
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
768,653
232,822
Corporation tax
102,357
Social security and other taxes
13,197
Other creditors - Pensions
2,545
1,146
Other creditors - Direct Earnings Attachment
8,525
14,627
Other creditors
3,445,390
2,150,720
------------
------------
4,225,113
2,514,869
------------
------------
9. Provisions
Deferred tax (note 10)
£
At 1 January 2024
Additions
16,233
Charge against provision
( 2,685)
--------
At 31 December 2024
13,548
--------
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 9)
13,548
--------
----
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
13,548
--------
----
11. Financial instruments
12. Called up share capital
Authorised share capital
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
604,000
604,000
604,000
604,000
---------
---------
---------
---------
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
604,000
604,000
604,000
604,000
---------
---------
---------
---------
13. Reserves
The company does not have any other reserves other than profit and loss reserves and a capital reserve created on the merger of subsidiaries previously owned by the holding company.
14. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
47,025
7,600
Later than 1 year and not later than 5 years
173,553
5,700
---------
--------
220,578
13,300
---------
--------
15. Contingencies
Contingent Liabilities In the ordinary course of business the company has secured facilities covered by fixed and floating charges over the assets of the company.
16. Summary audit opinion
The auditor's report dated 26 February 2025 was unqualified .
The senior statutory auditor was Parvez Dalal , for and on behalf of Brian Paul Limited .
17. Related party transactions
Trade creditors includes amounts payable to RSD Reise Service Deutschland GmbH of £679,251 (2023:£141,410) Pure Pepper Media & Sales GmbH of £19,806 (2023: £6,873), Kesselhaus GmbH £3,683 (2023: £471), F & S Dialogmarketing £723 (2023: £946), Hotel Liberty £1,690 (2023: £nil) and First Voyages France GmbH of £39,000 (2023: £52,970), companies owned by Christian Funk Holding GmbH & Co. Kg.
18. Controlling party
The parent company which consolidates its financial statements is First Voyages France GmbH, incorporated in Germany whose registered address is Beim Alten Ausbesserungswerk 4, 77654 Offenburg, Germany. The ultimate parent company, who exercises overall control is Christian Funk Holding GmbH & Co. Kg, incorporated in Germany whose registered address is Beim Alten Ausbesserungswerk 4, 77654 Offenburg, Germany. By virtue of his majority shareholding therein the ultimate controlling party is C Funk.