Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312024-01-01false4The Aspiration Group Travel LimitedThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity5falsetruefalse 05528305 2024-01-01 2024-12-31 05528305 2023-01-01 2023-12-31 05528305 2024-12-31 05528305 2023-12-31 05528305 c:Director1 2024-01-01 2024-12-31 05528305 c:Director2 2024-01-01 2024-12-31 05528305 c:RegisteredOffice 2024-01-01 2024-12-31 05528305 d:OfficeEquipment 2024-01-01 2024-12-31 05528305 d:OfficeEquipment 2024-12-31 05528305 d:OfficeEquipment 2023-12-31 05528305 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05528305 d:Goodwill 2024-12-31 05528305 d:Goodwill 2023-12-31 05528305 d:CurrentFinancialInstruments 2024-12-31 05528305 d:CurrentFinancialInstruments 2023-12-31 05528305 d:Non-currentFinancialInstruments 2024-12-31 05528305 d:Non-currentFinancialInstruments 2023-12-31 05528305 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 05528305 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05528305 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 05528305 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 05528305 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 05528305 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 05528305 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 05528305 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 05528305 d:ShareCapital 2024-12-31 05528305 d:ShareCapital 2023-12-31 05528305 d:SharePremium 2024-12-31 05528305 d:SharePremium 2023-12-31 05528305 d:CapitalRedemptionReserve 2024-12-31 05528305 d:CapitalRedemptionReserve 2023-12-31 05528305 d:RetainedEarningsAccumulatedLosses 2024-12-31 05528305 d:RetainedEarningsAccumulatedLosses 2023-12-31 05528305 c:FRS102 2024-01-01 2024-12-31 05528305 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05528305 c:FullAccounts 2024-01-01 2024-12-31 05528305 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05528305 6 2024-01-01 2024-12-31 05528305 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Registered number: 05528305


THE ASPIRATION GROUP LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024

 
THE ASPIRATION GROUP LIMITED
 
 
COMPANY INFORMATION


Directors
L Tekun 
N Torgut 




Registered number
05528305



Registered office
Becket House
36 Old Jewry

London

England

EC2R 8DD




Accountants
Xeinadin London Limited

8th Floor Becket House

36 Old Jewry

London

EC2R 8DD





 
THE ASPIRATION GROUP LIMITED
 

CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 11


 
THE ASPIRATION GROUP LIMITED
REGISTERED NUMBER: 05528305

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
62,895
62,895

Tangible assets
 5 
6,222
7,778

Investments
 6 
50,624
50,624

  
119,741
121,297

Current assets
  

Debtors: amounts falling due within one year
 7 
54,616
94,782

Cash at bank and in hand
 8 
49,473
4,648

  
104,089
99,430

Creditors: amounts falling due within one year
 9 
(203,091)
(213,611)

Net current liabilities
  
 
 
(99,002)
 
 
(114,181)

Total assets less current liabilities
  
20,739
7,116

Creditors: amounts falling due after more than one year
 10 
(8,333)
(28,333)

Provisions for liabilities
  

Deferred tax
  
(1,448)
(1,482)

  
 
 
(1,448)
 
 
(1,482)

Net assets/(liabilities)
  
10,958
(22,699)


Capital and reserves
  

Called up share capital 
  
61
61

Share premium account
  
54,987
54,987

Capital redemption reserve
  
1,621
1,621

Profit and loss account
  
(45,711)
(79,368)

  
10,958
(22,699)


Page 1

 
THE ASPIRATION GROUP LIMITED
REGISTERED NUMBER: 05528305
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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: 




N Torgut
L Tekun
Director
Director


Date: 24 June 2025
Date:24 June 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
THE ASPIRATION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The Aspiration Group Limited is a private company limited by shares, registered in England and Wales, United Kingdom.
The registered office is Becket House, 36 Old Jewry, London, EC2R 8DD.
The principal activity of the company is that of a travel and events company.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

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'.

 
2.3

Revenue recognition

Turnover comprises revenue recognised by the Company in respect of events held during the year, exclusive of Value Added Tax and trade discounts. Turnover is recognised on the date of the event. 

Page 3

 
THE ASPIRATION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
THE ASPIRATION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.9

Intangible assets

Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
 
 
2.10

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 5

 
THE ASPIRATION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.10
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 a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
20%

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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

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, loans from banks and other
 
Page 6

 
THE ASPIRATION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)

third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Staff
4
5


4.


Intangible assets




Licences

£



Cost


At 1 January 2024
62,895



At 31 December 2024

62,895






Net book value



At 31 December 2024
62,895



At 31 December 2023
62,895



Page 7

 
THE ASPIRATION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2024
27,756



At 31 December 2024

27,756



Depreciation


At 1 January 2024
19,978


Charge for the year on owned assets
1,556



At 31 December 2024

21,534



Net book value



At 31 December 2024
6,222



At 31 December 2023
7,778


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
50,624



At 31 December 2024
50,624




Page 8

 
THE ASPIRATION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
343
27,045

Other debtors
1,639
-

Prepayments and accrued income
52,634
67,737

54,616
94,782


Included within "prepayments and accrued income" above are amounts relating to payments in advance
to suppliers for events taking place after the year end, the total of which amounts to £51,979 (2023: £67,059).


8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
49,473
4,648

49,473
4,648



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
20,000
20,000

Trade creditors
494
50,727

Amounts owed to group undertakings
48,961
46,257

Corporation tax
5,649
-

Other taxation and social security
3,660
5,021

Other creditors
121,177
85,606

Accruals and deferred income
3,150
6,000

203,091
213,611


Included within "Other creditors" above are amounts relating to customer monies held on
account for events taking place after the year end, the total of which amount to £120,406 (2023: £82,830).                                                                                                      

Page 9

 
THE ASPIRATION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
8,333
28,333

8,333
28,333



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
20,000
20,000


20,000
20,000

Amounts falling due 1-2 years

Bank loans
8,333
20,000


8,333
20,000

Amounts falling due 2-5 years

Bank loans
-
8,333


-
8,333


28,333
48,333



12.


Related party transactions

The Company has taken advantage of the exemption to disclose related party transactions with companies that are wholly owned within the Group.
As at the year end, the company had an outstanding balance owed to The Aspiration Group Travel Limited, a subsidiary company of £48,961 (2023: £46,256).

Page 10

 
THE ASPIRATION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Controlling party

The ultimate controlling party is N Torgut, by virtue of her shareholding.

 
Page 11