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Registered number: 04370517
LLAMA TRAVEL LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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LLAMA TRAVEL LIMITED
CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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LLAMA TRAVEL LIMITED
REGISTERED NUMBER: 04370517
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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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 23 December 2024.
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LLAMA TRAVEL LIMITED
REGISTERED NUMBER: 04370517
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024
The notes on pages 3 to 9 form part of these financial statements.
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LLAMA TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Llama Travel Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The registered number and 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 principle activities are that of specialist tour operator.
2.Accounting policies
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Basis of preparation of financial statements
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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.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Turnover represents amounts receivable from the sales of tours and other services supplied to customers net of VAT. Revenue and expenses are taken to the profit and loss account on the date of departure.
Interest income is recognised in profit or loss using the effective interest method.
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LLAMA TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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.
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, using the method provided below:.
Depreciation is provided on the following basis:
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Short-term leasehold property
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Straight line over life of lease
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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.
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.
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Cash and cash equivalents
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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.
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LLAMA TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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.
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.
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Provision for liabilities
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Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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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 on 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.
There are no critical accounting estimates or judgements made in applying the comapny's accounting policies.
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The average monthly number of employees, including directors, during the year was 15 (2023 - 13).
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LLAMA TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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Short-term leasehold property
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Charge for the year on owned assets
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LLAMA TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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Prepayments and accrued income
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Included in prepayments above are amounts relating to monies paid to suppliers for holidays departing after the year end, the total of which amount to £566,317 (2023: £453,874).
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to associates
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Other taxation and social security
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Accruals and deferred income
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Included in accruals and deferred income above are amounts relating to customer monies held on account for holidays departing after the year end, the total of which amount to £3,859,540 (2023: £2,958,162).
The Company made two payments totalling £139,996 (2023: £110,087) in October 2024 to settle the year end balance payable to BSP.
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LLAMA TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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Creditors: Amounts falling due after more than one year
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Accruals and deferred income
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Included in accruals and deferred income above are amounts relating to customer monies held on account for holidays departing after the year end, the total of which amount to £51,918 (2023: £72,082).
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The Company currently holds an Air Travel Organisers' License (ATOL) issued by the Civil Aviation
Authority (CAA), and is an accredited agent of the International Air Transport Association (IATA).
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 also complies with the financial criteria requirements of IATA.
There are no other material contingent liabilities.
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 £10,319 (2023: £7,200). Contributions totalling £2,319 (2023: £2,181) were payable to the fund at the balance sheet date and are included in creditors.
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Commitments under operating leases
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At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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LLAMA TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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Related party transactions
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During the year the following movements took place on directors' loan accounts:
Mr L D Newbold - during the year Mr L D Newbold introduced funds of £Nil (2023: £449) and was repaid £Nil (2023: £Nil). At the balance sheet date the company owed Mr L D Newbold £909 (2032: £763).
Mr N G Newbold - during the year Mr N G Newbold introduced funds of £260 (2023: £3,272) and was repaid £2,415 (2023: £1,873). At the balance sheet date the company owed Mr N G Newbold £36,140 (2023: £38,041).
During the year the company paid £119,351 (2023: £315,000) to Rochester Wilmot Limited, a company under common control, incorporated in England & Wales. At the balance sheet date the company owed Rochester Wilmot Limited £182,725 (2023: £218,076).
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Post balance sheet events
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The directors have concluded that no other material events have occured since the date of approval of these financial statements that would affect the financial statements of the Company.
The ultimate controlling party is Mr L D Newbold by virtue of his shareholding in the company.
The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.
The audit report was signed on 23 December 2024 by Ian Palmer FCA (Senior Statutory Auditor) on behalf of Xeinadin Audit Limited.
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