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Registration number: 01814715

Cultural Tours Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Cultural Tours Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Cultural Tours Limited

Company Information

Directors

Mr Y Guo

Ms Hua Bi

Company secretary

D Wu

Registered office

9A Burroughs Gardens
London
NW4 4AU

Registered number

01814715

Auditors

Ripe LLP
Chartered Accountants and Registered Auditors9A Burroughs Gardens
London
NW4 4AU

 

Cultural Tours Limited

(Registration number: 01814715)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,567

390

Current assets

 

Debtors

5

390,883

159,773

Cash at bank and in hand

 

149,721

194,026

 

540,604

353,799

Creditors: Amounts falling due within one year

6

(295,950)

(171,745)

Net current assets

 

244,654

182,054

Total assets less current liabilities

 

246,221

182,444

Creditors: Amounts falling due after more than one year

6

(52,000)

(52,000)

Net assets

 

194,221

130,444

Capital and reserves

 

Called up share capital

7

67,000

67,000

Retained earnings

127,221

63,444

Shareholders' funds

 

194,221

130,444

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 

.........................................
Mr Y Guo
Director

 

Cultural Tours Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9A Burroughs Gardens
London
NW4 4AU
England

The principal place of business is:
7 & 8 Regency Parade
Finchley Road
London
NW3 5EG

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 (£) and figures are shown to the nearest whole pound.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 31 March 2025 was Robert Glazer FCA, who signed for and on behalf of Ripe LLP.

 

Cultural Tours Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Turnover represents invoiced sales of travel and tour packages, excluding value added tax. Revenue is recognised based on departure dates that fall within the period under review.

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.

Foreign currency transactions and balances

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Tax

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.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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, fitting & equipment

15% reducing balance

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.

 

Cultural Tours Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

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. They are subsequently measured at amortised cost using the effective interest method, 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.

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.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

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 directors) during the year, was 3 (2023 - 3).

 

Cultural Tours Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

13,956

13,956

Additions

582

582

At 31 December 2024

14,538

14,538

Depreciation

At 1 January 2024

12,737

12,737

Charge for the year

234

234

At 31 December 2024

12,971

12,971

Carrying amount

At 31 December 2024

1,567

1,567

At 31 December 2023

390

390

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

242,932

91,933

Amounts owed by related parties

8

-

4,349

Prepayments

 

122,265

37,553

Other debtors

 

25,686

25,938

   

390,883

159,773

 

Cultural Tours Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

75,659

59,104

Taxation and social security

17,470

868

Accruals and deferred income

182,479

95,895

Other creditors

20,342

15,878

295,950

171,745

Creditors: amounts falling due after more than one year

2024
£

2023
£

Other non-current financial liabilities

52,000

52,000

Other creditors of £52,000 is a loan from a director of the parent company and is subject to a deed of subordination and is not repayable without the prior written consent of the Civil Aviation Authority.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

67,000

67,000

67,000

67,000

       

8

Related party transactions

Connected company - China Travel Service (UK) Limited
During the year, rent of £24,835 (2023: £25,593) were paid to related company, China Travel Service (UK) Limited.

As at year end, China Travel Service (UK) Limited owed £Nil (2023: -4,349 ) to the company.

Ultimate parent company - China Tourism Group
On 27 September 2013, the ultimate parent company signed a Deed of Undertaking to the trustees of the Air Travel Trust for a maximum liability of £1M.

 

Cultural Tours Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

9

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £5,957 (2023 - £4,801).

Contributions totalling £1,279 (2023 - £1,013) were payable to the scheme at the end of the year and are included in creditors.

10

Ultimate parent company

The company's ultimate parent company is a company incorporated in China, China Tourism Group.