IRIS Accounts Production v25.1.4.42 SC161728 Board of Directors 1.1.24 31.12.24 31.12.24 25.6.25 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1617282023-12-31SC1617282024-12-31SC1617282024-01-012024-12-31SC1617282022-12-31SC1617282023-01-012023-12-31SC1617282023-12-31SC161728ns15:Scotland2024-01-012024-12-31SC161728ns14:PoundSterling2024-01-012024-12-31SC161728ns10:Director12024-01-012024-12-31SC161728ns10:PrivateLimitedCompanyLtd2024-01-012024-12-31SC161728ns10:SmallEntities2024-01-012024-12-31SC161728ns10:Audited2024-01-012024-12-31SC161728ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-31SC161728ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-31SC161728ns10:FullAccounts2024-01-012024-12-31SC161728ns10:Director42024-01-012024-12-31SC161728ns10:Director52024-01-012024-12-31SC161728ns10:RegisteredOffice2024-01-012024-12-31SC161728ns5:CurrentFinancialInstruments2024-12-31SC161728ns5:CurrentFinancialInstruments2023-12-31SC161728ns5:ShareCapital2024-12-31SC161728ns5:ShareCapital2023-12-31SC161728ns5:RetainedEarningsAccumulatedLosses2024-12-31SC161728ns5:RetainedEarningsAccumulatedLosses2023-12-31SC161728ns5:PlantMachinery2023-12-31SC161728ns5:PlantMachinery2024-01-012024-12-31SC161728ns5:PlantMachinery2024-12-31SC161728ns5:PlantMachinery2023-12-31SC161728ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-12-31SC161728ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC161728ns5:WithinOneYear2024-12-31SC161728ns5:WithinOneYear2023-12-31SC161728ns5:BetweenOneFiveYears2024-12-31SC161728ns5:BetweenOneFiveYears2023-12-31SC161728ns5:AllPeriods2024-12-31SC161728ns5:AllPeriods2023-12-31SC161728ns5:AcceleratedTaxDepreciationDeferredTax2024-12-31SC161728ns5:AcceleratedTaxDepreciationDeferredTax2023-12-31SC161728ns5:DeferredTaxation2024-01-012024-12-31SC161728ns5:DeferredTaxation2024-12-31
REGISTERED NUMBER: SC161728 (Scotland)









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

COLPITTS WORLD TRAVEL LTD.

COLPITTS WORLD TRAVEL LTD. (REGISTERED NUMBER: SC161728)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COLPITTS WORLD TRAVEL LTD.

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: J Coffman
C Bemont
S Singh





REGISTERED OFFICE: Cairncross House
First Floor
25 Union Street
Edinburgh
Midlothian
EH1 3LR





REGISTERED NUMBER: SC161728 (Scotland)





AUDITORS: Haines Watts Scotland
Business Advisors, Accountants and
Statutory Auditors
Q Court
3 Quality Street
Edinburgh
EH4 5BP

COLPITTS WORLD TRAVEL LTD. (REGISTERED NUMBER: SC161728)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,746 7,812

CURRENT ASSETS
Debtors 5 3,489,701 3,791,271
Cash at bank 810,590 433,684
4,300,291 4,224,955
CREDITORS
Amounts falling due within one year 6 823,663 1,531,357
NET CURRENT ASSETS 3,476,628 2,693,598
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,498,374

2,701,410

PROVISIONS FOR LIABILITIES 8 5,151 -
NET ASSETS 3,493,223 2,701,410

CAPITAL AND RESERVES
Called up share capital 60,000 60,000
Retained earnings 3,433,223 2,641,410
SHAREHOLDERS' FUNDS 3,493,223 2,701,410

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2025 and were signed on its behalf by:





J Coffman - Director


COLPITTS WORLD TRAVEL LTD. (REGISTERED NUMBER: SC161728)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Colpitts World Travel Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 £.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

TURNOVER
Turnover is recognised at the fair value of the consideration received or receivable for 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. Turnover is recognised at the point a booking is made.

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:

Plant and machinery etc33.33% straight line & 16.66% straight line

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.

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 the profit or loss.

FINANCIAL INSTRUMENTS
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.


COLPITTS WORLD TRAVEL LTD. (REGISTERED NUMBER: SC161728)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset, carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. lf a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

FOREIGN CURRENCIES
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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 24 ) .

COLPITTS WORLD TRAVEL LTD. (REGISTERED NUMBER: SC161728)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2024 16,127
Additions 19,833
At 31 December 2024 35,960
DEPRECIATION
At 1 January 2024 8,315
Charge for year 5,899
At 31 December 2024 14,214
NET BOOK VALUE
At 31 December 2024 21,746
At 31 December 2023 7,812

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,712,921 2,277,150
Amounts owed by group undertakings 1,521,943 1,467,778
Other debtors 179,575 46,343
Tax 75,262 -
3,489,701 3,791,271

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 96,288 126,296
Amounts owed to group undertakings - 227,460
Tax - 51,948
Social security and other taxes 22,843 22,114
Other creditors 46,634 151,000
Customer deposits 651,298 946,339
Accruals and deferred income 6,600 6,200
823,663 1,531,357

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 23,967 32,967
Between one and five years - 9,000
23,967 41,967

COLPITTS WORLD TRAVEL LTD. (REGISTERED NUMBER: SC161728)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 5,151 -

Deferred
tax
£   
Provided during year 5,151
Balance at 31 December 2024 5,151

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig Hunter (Senior Statutory Auditor)
for and on behalf of Haines Watts Scotland

10. RELATED PARTY DISCLOSURES

At the balance sheet date £826,484 (2023 owed to - £227,460) was owed by Unisphere Travel Inc. This amount is interest free and has no fixed repayment date.

During the year, payments of £3,030 (2023 - £62,505) were made by the company in relation to services provided by Direct Travel, the ultimate parent company. At the balance sheet date £635,207 (2023 - £1,432,406) was owed by Direct Travel. This amount is interest free and has no fixed repayment date.