Company registration number SC132801 (Scotland)
MARKETING LINKS SCOTLAND LIMITED
T/A THE TRAVEL COMPANY EDINBURGH
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MARKETING LINKS SCOTLAND LIMITED
T/A THE TRAVEL COMPANY EDINBURGH
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
MARKETING LINKS SCOTLAND LIMITED
T/A THE TRAVEL COMPANY EDINBURGH
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
19,621
23,337
Current assets
Debtors
5
491,768
755,379
Investments
6
7,057
7,057
Cash at bank and in hand
1,512,515
1,140,113
2,011,340
1,902,549
Creditors: amounts falling due within one year
7
(783,486)
(946,431)
Net current assets
1,227,854
956,118
Total assets less current liabilities
1,247,475
979,455
Creditors: amounts falling due after more than one year
8
(30,130)
(33,120)
Provisions for liabilities
909
494
Net assets
1,218,254
946,829
Capital and reserves
Called up share capital
119,550
119,550
Profit and loss reserves
1,098,704
827,279
Total equity
1,218,254
946,829
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MARKETING LINKS SCOTLAND LIMITED
T/A THE TRAVEL COMPANY EDINBURGH
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 May 2025 and are signed on its behalf by:
K McNab
Director
Company Registration No. SC132801
MARKETING LINKS SCOTLAND LIMITED
T/A THE TRAVEL COMPANY EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Marketing Links Scotland Limited is a private company limited by shares incorporated in Scotland. The registered office is Murrayburgh House, 17 Corstorphine Road, Edinburgh, United Kingdom, EH12 6DD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Where the company acts as the principal travel organiser, turnover represents the gross value of the bookings including hotel bookings, travel costs and other related services. The full cost of such bookings is included within cost of sales.
Where the company acts agent, turnover represents commission earned on the collection of receipts for travel and hotel sales.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
10% on cost
Fixtures and fittings
15% on net book value
Computers
15% on net book value & 33% on cost
Motor vehicles
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
MARKETING LINKS SCOTLAND LIMITED
T/A THE TRAVEL COMPANY EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
MARKETING LINKS SCOTLAND LIMITED
T/A THE TRAVEL COMPANY EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
14
14
MARKETING LINKS SCOTLAND LIMITED
T/A THE TRAVEL COMPANY EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
30,000
Amortisation and impairment
At 1 January 2024 and 31 December 2024
30,000
Carrying amount
At 31 December 2024
At 31 December 2023
4
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
20,000
104,095
25,819
26,721
176,635
Additions
1,419
1,419
At 31 December 2024
20,000
104,095
27,238
26,721
178,054
Depreciation and impairment
At 1 January 2024
20,000
100,976
16,639
15,683
153,298
Depreciation charged in the year
468
1,908
2,759
5,135
At 31 December 2024
20,000
101,444
18,547
18,442
158,433
Carrying amount
At 31 December 2024
2,651
8,691
8,279
19,621
At 31 December 2023
3,119
9,180
11,038
23,337
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
435,918
719,063
Other debtors
55,850
36,316
491,768
755,379
MARKETING LINKS SCOTLAND LIMITED
T/A THE TRAVEL COMPANY EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
6
Current asset investments
2024
2023
£
£
Other investments
7,057
7,057
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,992
2,919
Trade creditors
183,398
259,428
Amounts owed to group undertakings
42,413
12,413
Taxation and social security
165,043
187,124
Other creditors
389,640
484,547
783,486
946,431
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
30,130
33,120
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
163,460
10
Financial commitments, guarantees and contingent liabilities
HSBC Bank PLC holds unlimited cross guarantees from Marketing Links Scotland Limited and Micro Marketing & Property Limited to secure all liabilities of each company.
11
Related party transactions
The company has taken exemption provided by Paragraph 33.1A of Financial Reporting Standard 102 and accordingly has not disclosed any transactions with group undertakings.
MARKETING LINKS SCOTLAND LIMITED
T/A THE TRAVEL COMPANY EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
12
Parent company
The immediate parent company and controlling party is Micro Marketing & Property Limited, a company incorporated incorporated in Scotland (SC079966).
Copies of the financial statements of Micro Marketing & Property Limited are available from the Registrar of Companies, Companies House, 139 Fountainbridge, Edinburgh, EH3 9FF.
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