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Registered number: 01302911


NIMAR TRAVEL LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2024

 
NIMAR TRAVEL LIMITED
REGISTERED NUMBER: 01302911

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
14,140
17,728

  
14,140
17,728

Current assets
  

Debtors: amounts falling due within one year
 6 
746,016
797,025

Cash at bank and in hand
 7 
1,074,104
499,159

  
1,820,120
1,296,184

Creditors: amounts falling due within one year
 8 
(870,816)
(588,126)

Net current assets
  
 
 
949,304
 
 
708,058

Total assets less current liabilities
  
963,444
725,786

Provisions for liabilities
  

Deferred tax
 9 
(2,888)
(4,823)

  
 
 
(2,888)
 
 
(4,823)

Net assets
  
960,556
720,963


Capital and reserves
  

Called up share capital 
 10 
40,000
40,000

Capital redemption reserve
  
29,600
29,600

Profit and loss account
  
890,956
651,363

  
960,556
720,963


Page 1

 
NIMAR TRAVEL LIMITED
REGISTERED NUMBER: 01302911
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

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 on 27 February 2025.




M Colley
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
NIMAR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Nimar Travel Limited is a private company limited by shares incorporated in England and Wales. The registered number and the address of the registered office and trading office is given in the Company information of these financial statements. 
The nature of the Company's operations and principal activities are that of the provision of travel arrangements and agency services to corporate bodies. 

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 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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Turnover represents the value of net commissions, transaction fees and other income earned for the arrangement of travel services.
Transactional and management fee income is recognised when it arises and it is certain that economic benefits associated with the transaction will flow.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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.

Page 3

 
NIMAR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
NIMAR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
NIMAR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based historical experience and other factors that are recognised to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.
The directors are of the view that there are no critical judgements that have had a significant effect on the amounts recognised in the financial statements.


4.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 12).

Page 6

 
NIMAR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 September 2023
39,002



At 31 August 2024

39,002



Depreciation


At 1 September 2023
21,274


Charge for the year
3,588



At 31 August 2024

24,862



Net book value



At 31 August 2024
14,140



At 31 August 2023
17,728


6.


Debtors

2024
2023
£
£


Trade debtors
735,976
789,625

Prepayments and accrued income
10,040
7,400

746,016
797,025



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,074,104
499,159

1,074,104
499,159




Page 7

 
NIMAR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
723,814
476,977

Corporation tax
115,159
87,361

Other taxation and social security
31,843
23,788

870,816
588,126


At the year end, the Company had an outstanding BSP liability of £446,112 (2023: £207,955)

Page 8

 
NIMAR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
(4,823)
(4,601)


Charged to profit or loss
1,935
(222)



At end of year
(2,888)
(4,823)

2024
2023
£
£


Fixed asset timing differences
(3,072)
(4,823)

Short term timing differences
184
-

(2,888)
(4,823)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



40,000 (2023 - 40,000) Ordinary Shares shares of £1.00 each
40,000
40,000

During the year, the entire share capital was gifted to M Colley, the director.


Page 9

 
NIMAR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

11.


Contingent liabilities

The Company currently holds an Air Travel Organisers' License ('ATOL') issued by the Civil Aviation Authority ('CAA'), they are currently a member of the Association of British Travel Agents Limited ('ABTA') and an accredited agent of the International Air Transport Association (IATA). 
At the year end the company had a bond in place with ABTA amounting to £59,018 (2023: £38,556)
In order to offer air inclusive package holidays, the company requires the annual renewal by the CAA of its ATOL licence. The CAA grants this license on the basis of meeting agreed financial criteria and renews this in March (effective 1st April) each year. The company has complied with these requirements in previous years. The directors see no reason why the ATOL license will not be renewed in March 2025 on substantially the same terms and conditions as currently agreed with the CAA.
The Company had a Rail Guarantee for the amount of £35,000
The Company also complies with the financial criteria requirements of IATA.
There are no other material contingent liabilities.

Page 10

 
NIMAR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £9,828 (2023: £9,230) Contributions totalling £2,102 (2023: £1,707) were payable to the fund at the balance sheet date and included within other creditors.


13.


Post balance sheet events

The directors have concluded that no material events have occurred since the date of approval of these financial statements that would affect the financial statements of the company.


14.


Controlling party

 The ultimate controlling party is deemed to be M Colley.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 August 2024 was unqualified.

The audit report was signed on 27 February 2025 by Yasin Khandwalla FCCA (Senior Statutory Auditor) on behalf of Xeinadin Audit Limited.

 
Page 11