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COMPANY REGISTRATION NUMBER: 02924592
Axis & Globe Travel Limited
Filleted Unaudited Financial Statements
31 December 2024
Axis & Globe Travel Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
13,380
10,156
Investments
6
300
300
-------
-------
13,680
10,456
Current assets
Debtors
7
2,915,091
1,860,747
Cash at bank and in hand
1,509,961
2,528,251
-----------
-----------
4,425,052
4,388,998
Prepayments and accrued income
59,125
119,803
Creditors: amounts falling due within one year
8
3,258,678
3,645,824
-----------
-----------
Net current assets
1,225,499
862,977
-----------
--------
Total assets less current liabilities
1,239,179
873,433
Provisions
Taxation including deferred tax
2,365
2,539
-----------
--------
Net assets
1,236,814
870,894
-----------
--------
Capital and reserves
Called up share capital
9
342
342
Share premium account
44
44
Profit and loss account
1,236,428
870,508
-----------
--------
Shareholders funds
1,236,814
870,894
-----------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Axis & Globe Travel Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 1 July 2025 , and are signed on behalf of the board by:
D. Lopez Alonso
Director
Company registration number: 02924592
Axis & Globe Travel Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered and trading in England and Wales with company number 02924592 . The address of the principal place of business is Unit 1S.02, The Barley Mow Centre, 10 Barley Mow Passage, Chiswick, London, W4 4PH. The address of the registered office is 8 Jury Street, Warwick, CV34 4EW.
2. Statement of compliance
The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.
Judgements in applying accounting policies and key sources of estimation in uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer Equipment
-
15% straight line
Plant and equipment
-
15% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2023: 14 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2024
19,947
1,701
21,648
Additions
6,790
6,790
-------
------
-------
At 31 December 2024
26,737
1,701
28,438
-------
------
-------
Depreciation
At 1 January 2024
11,162
330
11,492
Charge for the year
3,311
255
3,566
-------
------
-------
At 31 December 2024
14,473
585
15,058
-------
------
-------
Carrying amount
At 31 December 2024
12,264
1,116
13,380
-------
------
-------
At 31 December 2023
8,785
1,371
10,156
-------
------
-------
6. Investments
Shares in group undertakings
£
Cost
At 1 January 2024 and 31 December 2024
300
----
Impairment
At 1 January 2024 and 31 December 2024
----
Carrying amount
At 31 December 2024
300
----
At 31 December 2023
300
----
The company owns 100% of the issued share capital of:
- Axistour Limited
- Globe Travel Services Limited
7. Debtors
2024
2023
£
£
Trade debtors
2,535,977
1,775,574
Other debtors
379,114
85,173
-----------
-----------
2,915,091
1,860,747
-----------
-----------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
628,937
845,115
Amounts owed to group undertakings and undertakings in which the company has a participating interest
164,578
730,614
Social security and other taxes
486,841
436,144
Other creditors
1,978,322
1,633,951
-----------
-----------
3,258,678
3,645,824
-----------
-----------
HSBC bank holds fixed and floating charges over the undertaking and all property and assets present and future.
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 0.10 each
3,400
340
3,400
340
Ordinary A1 shares of £ 0.10 each
10
1
10
1
Ordinary A2 shares of £ 0.10 each
10
1
10
1
Ordinary B shares of £ 0.10 each
1
1
------
----
------
----
3,421
342
3,421
342
------
----
------
----
10. Directors' advances, credits and guarantees
At the reporting date the directors loan account was £nil (2023: £nil).
11. Controlling party
The company is a wholly owned subsidiary of Axis & Globe 2023 Limited, a company incorporated in England and Wales. A copy of the financial statements of the ultimate parent undertaking is available from their registered office in the UK: Axis & Globe 2023 Limited 8 Jury Street Warwick Warwickshire CV34 4EW