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Registered number: 02614755


AITO -THE SPECIALIST TRAVEL ASSOCIATION LTD
(A Company Limited by Guarantee)
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2024

 
AITO -THE SPECIALIST TRAVEL ASSOCIATION LTD
  
(A Company Limited by Guarantee)
REGISTERED NUMBER:02614755

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
389,947
387,936

Investments
 5 
102
102

  
390,049
388,038

Current assets
  

Debtors: amounts falling due within one year
 6 
11,000
128,489

Cash at bank and in hand
 7 
231,813
201,286

  
242,813
329,775

Creditors: amounts falling due within one year
 8 
(174,593)
(267,772)

Net current assets
  
 
 
68,220
 
 
62,003

Total assets less current liabilities
  
458,269
450,041

  

Net assets
  
458,269
450,041


Capital and reserves
  

Profit and loss account
  
458,269
450,041

  
458,269
450,041


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: 


................................................
Stephen William Brook (Treasurer)

Date: 6 April 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
AITO -THE SPECIALIST TRAVEL ASSOCIATION LTD
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Association of Independent Tour Operators a private company limited by guarantee incorporated in England. The address of the registered office is given in the company information page of these financial statements. The nature of the company's operations and principal activities in the year under review were those of a representing, co-ordinating and promoting the trading activities of its members.

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.

  
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Interest income

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

 
2.4

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

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.

Page 2

 
AITO -THE SPECIALIST TRAVEL ASSOCIATION LTD
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Plant and machinery
-
100%
Straight Line basis
Motor vehicles
-
33%
Straight Line basis
Fixtures and fittings
-
25%
reducing balance basis

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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 3

 
AITO -THE SPECIALIST TRAVEL ASSOCIATION LTD
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

3.


Employees

2024
2023
£
£

Wages and salaries
155,137
132,436

Cost of defined contribution scheme
5,680
5,920

160,817
138,356


The average monthly number of employees, including directors, during the year was 6 (2023 - 4).


4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 September 2023
387,617
58,044
49,807
495,468


Additions
-
3,577
-
3,577



At 31 August 2024

387,617
61,621
49,807
499,045



Depreciation


At 1 September 2023
-
58,044
49,488
107,532


Charge for the year on owned assets
-
1,497
69
1,566



At 31 August 2024

-
59,541
49,557
109,098



Net book value



At 31 August 2024
387,617
2,080
250
389,947



At 31 August 2023
387,617
-
319
387,936

Page 4

 
AITO -THE SPECIALIST TRAVEL ASSOCIATION LTD
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 September 2023
102



At 31 August 2024
102






Page 5

 
AITO -THE SPECIALIST TRAVEL ASSOCIATION LTD
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Debtors

2024
2023
£
£


Trade debtors
1,841
2,561

Amounts owed by group undertakings
-
115,565

Other debtors
4,500
4,756

Prepayments and accrued income
4,659
5,607

11,000
128,489



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
231,813
201,286

231,813
201,286



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,874
9,177

Amounts owed to group undertakings
27,029
124,432

Other creditors
11,274
12,472

Accruals and deferred income
131,416
121,691

174,593
267,772




Page 6

 
AITO -THE SPECIALIST TRAVEL ASSOCIATION LTD
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


9.


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 £5,680 (2023: £5,920). Contributions totalling £Nil (2023: £250) were payable to the fund at the balance sheet date and are included in creditors. 


10.


Related party transactions

During the year the company operated a current account with its subsidiary undertaking, AITO Promotions Limited. The balance due to its subsidiary as at the year end was £26,929 (2023: £8,767).
At the year end £100 (2023: £100) was owed to AITO Financial Protection Services Ltd, a wholly owned subsidiary. 


11.


Post balance sheet events

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


12.


Auditors' information

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

The audit report was signed on 6 April 2025 by Ian Palmer FCA (Senior Statutory Auditor) on behalf of Xeinadin Audit Limited.

 
Page 7