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Registration number: 1449375

Alternative Travel Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 June 2024

 

Alternative Travel Group Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 11

 

Alternative Travel Group Limited

(Registration number: 1449375)
Balance Sheet as at 29 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,936,344

3,906,099

Investments

5

40,000

40,000

Other financial assets

6

1,566

1,566

 

3,977,910

3,947,665

Current assets

 

Stocks

7

2,139

2,139

Debtors

8

921,330

894,868

Cash at bank and in hand

 

321,286

191,038

 

1,244,755

1,088,045

Creditors: Amounts falling due within one year

9

(1,464,122)

(1,272,142)

Net current liabilities

 

(219,367)

(184,097)

Total assets less current liabilities

 

3,758,543

3,763,568

Creditors: Amounts falling due after more than one year

9

(108,260)

(174,102)

Provisions for liabilities

(255,500)

(255,500)

Net assets

 

3,394,783

3,333,966

Capital and reserves

 

Called up share capital

10

30,000

30,000

Revaluation reserve

2,182,959

2,182,959

Retained earnings

1,181,824

1,121,007

Shareholders' funds

 

3,394,783

3,333,966

For the financial year ending 29 June 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Alternative Travel Group Limited

(Registration number: 1449375)
Balance Sheet as at 29 June 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 March 2025
 

.........................................

C F C Whinney
Director

 

Alternative Travel Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
Prama House
267 Banbury Road
Oxford
OX2 7HT

These financial statements were authorised for issue by the director on 26 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Sales invoices are raised on the date that a trip is confirmed by the customer, recognised in accounts receivable on an invoice date basis and held as deferred income on the balance sheet within creditors until the date that the trip commences. Revenue is recognised in the profit and loss account on a departure date basis.

 

Alternative Travel Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Alternative Travel Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance method

Computer equipment

Straight line over 3 years

Motor vehicles

20% reducing balance method

Land and buildings

None

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.Trade creditors are recognised initially at the transaction price.

Borrowings

 

Alternative Travel Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Rentals payable under operating leases are charged in the profit and loss account as incurred.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 4).

 

Alternative Travel Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 30 June 2023

3,838,935

1,415,116

48,101

5,302,152

Additions

-

45,197

-

45,197

At 29 June 2024

3,838,935

1,460,313

48,101

5,347,349

Depreciation

At 30 June 2023

-

1,347,952

48,101

1,396,053

Charge for the year

-

14,952

-

14,952

At 29 June 2024

-

1,362,904

48,101

1,411,005

Carrying amount

At 29 June 2024

3,838,935

97,409

-

3,936,344

At 29 June 2023

3,838,935

67,164

-

3,906,099


 

 

Alternative Travel Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

40,000

40,000

Subsidiaries

£

Cost or valuation

At 30 June 2023

40,000

Provision

Carrying amount

At 29 June 2024

40,000

At 29 June 2023

40,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Alternative Travel Flights Limited

274 Banbury Road, Oxford OX2 7DY

Ordinary

100%

100%

 

United Kingdom

     

Pieve A Castello SRL

SP74, 49, 53035 Monteriggioni SI

Ordinary

100%

100%

 

Italy

     

Subsidiary undertakings

Alternative Travel Flights Limited

The principal activity of Alternative Travel Flights Limited is the sale of flights.

Pieve A Castello SRL

The principal activity of Pieve A Castello SRL is the operation of a hotel agency.

 

Alternative Travel Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 30 June 2023

1,566

1,566

At 29 June 2024

1,566

1,566

Impairment

Carrying amount

At 29 June 2024

1,566

1,566

7

Stocks

2024
£

2023
£

Other inventories

2,139

2,139

8

Debtors

Note

2024
£

2023
£

Trade debtors

 

505,900

518,700

Amounts owed by group undertakings and undertakings in which the company has a participating interest

65,672

65,672

Prepayments

 

59,031

19,842

Other debtors

 

290,727

290,654

 

921,330

894,868

Trade debtors includes amounts in respect of trips that have been invoiced in full before the year end but for which payments have not yet fallen due. Trips are invoiced in full upon confirmation of the booking even though final payment is not due until 60 days before the trips' departure dates. As such, included within trade debtors is approximately £505,900 (2023: £518,700) of sales that have been invoiced but for which payment has not yet fallen due. The equivalent amount is also included within deferred income.

 

Alternative Travel Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

69,050

69,050

Trade creditors

 

-

22,600

Amounts owed to group undertakings and undertakings in which the company has a participating interest

58,282

58,282

Taxation and social security

 

17,487

34,820

Accruals and deferred income

 

1,311,928

1,085,560

Other creditors

 

7,375

1,830

 

1,464,122

1,272,142

Deferred income represents the value of trips invoiced during the year that depart during the following financial year. Trips are invoiced in full upon confirmation of the booking even though final payment is not due until 60 days before the trip's departure date. As such, included within deferred income is approximately £505,900 (2023: £518,700) of sales that have been invoiced but for which payment has not yet fallen due. The equivalent amount is also included within trade debtors.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

108,260

174,102

 

Alternative Travel Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

30,000

30,000

30,000

30,000

       

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

108,260

174,102

Current loans and borrowings

2024
£

2023
£

Bank borrowings

69,050

69,050

12

Deferred tax and other provisions

Deferred tax
£

Total
£

Deferred tax

(255,500)

(255,500)

Deferred tax consists of:-

2024
£

2023
£

Accelerated tax depreciation

25,500

25,500

Revaluation of property

230,000

230,000

255,500

255,500

13

Parent and ultimate parent undertaking

The company's immediate parent is Alternative Travel Group (Holdings) Ltd, incorporated in United Kingdom.

  These financial statements are available upon request from 274 Banbury Road, Oxford OX2 7DY.