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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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WENDY WU TOURS LIMITED
COMPANY INFORMATION
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WENDY WU TOURS LIMITED
CONTENTS
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WENDY WU TOURS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Introduction
The directors present their strategic report for the year ended 31 December 2024. Section 172 (1) Statement The information provided below is intended to explain how the directors considered the interests of the Company’s key stakeholders and the broader matters set out in section 172 (1) (a) to (f) of the Companies Act 2006 when performing their duty to promote the success of the Company under section 172 of the Companies Act 2006. Trading Performance and Strategic Improvements The Company’s trading performance saw a record-breaking year in 2024, building on the significant improvements experienced in 2023 after three challenging years impacted by the Covid-19 pandemic. Client travel resumed strongly, and the CEO’s strategic focus remained on consolidating pre-Covid sales levels through enhanced customer retention strategies, robust product development initiatives, and the introduction of new and exciting destinations into the product lineup. Japan continues to be the most popular destination, with China now returning to previous levels as the second most popular destination. The product team continues to develop new and exciting destinations to meet growing customer demand. Management has maintained strict control over discretionary expenditure and overhead costs, reflecting the Company’s commitment to efficient operations and maximising profitability while upholding high service standards. This disciplined financial management positions the Company well for sustainable growth. Key performance indicators and operational monitoring The Company continues to monitor key performance indicators (KPIs) related to sales and gross profit. Weekly trading meetings are held to analyse booking intake, conversions, and trading profit margins, ensuring the business remains agile and responsive to market conditions. Travel regulatory bodies The Company holds an ATOL granted by the CAA which falls due for renewal in September 2025. Principal risks and uncertainties The risk factors described below are those which the directors believe are potentially significant but should not be regarded as a complete and comprehensive statement of all potential risks and uncertainties facing the Company. Health and Safely: The Company continues to prioritise the health and safety of its employees, customers, and partners as a fundamental part of its operations. In addition to following local and international government health guidelines, the Company has developed comprehensive internal protocols to manage potential risks associated with travel, including regular staff training and emergency response plans. Throughout 2024, these measures have been regularly reviewed and updated in line with evolving global health developments. The Company also collaborates closely with suppliers, local authorities, and industry bodies to
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WENDY WU TOURS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
ensure that all health and safety standards are met or exceeded across all destinations.
This proactive and vigilant approach is designed to maintain customer confidence and safeguard the wellbeing of everyone involved, while enabling the business to operate smoothly in a complex and dynamic environment. Geo-political events and natural disasters: The Company operates in a global and dynamic environment that is inherently exposed to a range of geo-political risks and natural disasters. These can include political instability, civil unrest, terrorism, trade disputes, changes in international relations, as well as natural events such as earthquakes, floods, typhoons, and pandemics. Such occurrences can disrupt travel routes, affect destination accessibility, and impact customer confidence. To mitigate these risks, the Company maintains a flexible operational model that allows rapid redeployment of resources and re-routing of itineraries to safer locations when necessary. Risk assessments are regularly conducted, and contingency plans are updated to ensure business continuity and customer safety. The Company also monitors global developments closely through reliable information sources and maintains active communication with local partners and authorities. While these risks cannot be fully eliminated, the Company’s proactive approach aims to minimise disruption and protect the interests of customers, employees, and other stakeholders.
Regulatory risk:
The Company is exposed to various regulators, including the Civil Aviation Authority ("CAA"), which issues an Air Travel Organisers Licence ("ATOL"), which is required in order for the Company to operate. This licence is renewed in September each year and is subject to assessments of fitness and financial criteria, the framework of which is available on the CAA website (www.caa.co.uk). Management closely monitors changes in regulation and industry standards to ensure ongoing compliance. Commercial relationships and risk management: The Company maintains strong, long-standing relationships with both customers and suppliers, which helps reduce the risk associated with dependence on any single provider. While the loss of a key supplier could impact the business, the management team regularly engages with suppliers to nurture these partnerships and keep abreast of their financial health. Additionally, the Company keeps a close watch on market trends and supplier performance to ensure quality and reliability are upheld. This ongoing, hands-on approach supports the stability and resilience of our supply chain.
Information technology:
The Company remains heavily reliant on information technology, particularly its booking systems, which are critical to daily operations. While measures are in place to ensure system efficiency and resilience, there remains a risk of major failure affecting these key systems. To mitigate this, procedures have been established to minimise any downtime and ensure the continuity and reliability of booking operations. With cyber threats evolving rapidly, the Company continues to be committed to strengthening and evolving its cyber security measures. Ongoing efforts include enhanced monitoring, regular risk assessments, and staff training aimed at protecting sensitive information and supporting business continuity. The Company also continues to invest in its IT systems to remain in line with changing technological advancements, with the aim of delivering a better service to customers and improving operational efficiency for staff.
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WENDY WU TOURS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Commercial risks: The Company's trading performance can be affected by environmental factors, which include: - acts of terrorism, particularly in key tourist destinations. - natural disasters in key tourist destinations. - weather conditions, both in the UK and in key tourist destinations. - health epidemics in key tourist destinations and global pandemics. - increase in government taxes in both UK and overseas. - wars or other international incidents which affect air or sea travel.
The key performance indicators used by the directors to monitor the progress of the Company are set ot below:
This report was approved by the board on 3 June 2025 and signed on its behalf.
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WENDY WU TOURS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website.
The profit for the year, after taxation, amounted to £5,819,588 (2023 - £3,530,592).
No dividends were paid or proposed for the year ended 31 December 2024.
The directors who served during the year were:
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WENDY WU TOURS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Following a strong recovery post-pandemic, the Company has continued to evolve its structure and team, focusing on strengthening capabilities to support long-term growth. Recruitment efforts have brought in fresh talent alongside experienced team members, building a revitalised organisation ready to meet future challenges.
The Company is actively pursuing new distribution channels, both by deepening existing partnerships and exploring opportunities in new markets. These efforts are aimed at increasing reach and ensuring a more resilient global presence. As part of its ongoing growth strategy, the Company remains focused on reducing geographical risk and enhancing customer choice through greater product diversification. Plans are underway to introduce an expanded portfolio of tour destinations, tailored to emerging customer demand and shifting travel trends.
Under section 487(2) of the Companies Act 2006, White Hart Associates (London) Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board on
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WENDY WU TOURS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WENDY WU TOURS LIMITED
We have audited the financial statements of Wendy Wu Tours Limited (the 'Company') for the year ended 31 December 2024, which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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WENDY WU TOURS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WENDY WU TOURS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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WENDY WU TOURS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WENDY WU TOURS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- We exercise professional judgement and maintain professional scepticism throughout the audit; - We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the deliberate override of internal control; - We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control; - We evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made; - We assess the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business; - We review the scope of the Company's compliance with its regulator, the Civil Aviation Authority ("CAA"), its membership of The Association of British Travel Agents ("ABTA") and its accreditation with the International Air Transport Association ("IATA") and sample test relevant documentation to assess this and the effectiveness of its control environment; - We review the Company's relationships with related parties and other group companies, identifying and disclosing transactions during the year and balances at year-end with such parties; - We conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the entity to cease to continue as a going concern.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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WENDY WU TOURS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WENDY WU TOURS LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants and Statutory Auditors
2nd Floor, Nucleus House
2 Lower Mortlake Road
TW9 2JA
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WENDY WU TOURS LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
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WENDY WU TOURS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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WENDY WU TOURS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 18 to 34 form part of these financial statements.
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WENDY WU TOURS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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WENDY WU TOURS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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WENDY WU TOURS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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WENDY WU TOURS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
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WENDY WU TOURS LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Wendy Wu Tours Limited is a private company limited by shares and incorporated in England under registered number 05107061. Its registered office is at 151F Tower Bridge Road, London SE1 3JE.
2.Accounting policies
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 (see note 3).
The following principal accounting policies have been applied:
Due to the consumer unease in relation to the current economic environment, increasing energy costs, and the impact of inflation, Company management and the directors have continued to review the Company’s financial position. This is to ensure a swift response to any changes in planned trading performance.
The directors have prepared projections for the period to December 2027. These reflect a very strong bookings growth and profitability.This is supported by the strong performance seen so far in the first half of 2025, which has seen a significant upside in demand. The Company has been well placed to meet and service the additional volume. Given the Company's substantial cash reserves the directors are confident that the Company will have sufficient funds and cash reserves to continue to meet liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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.
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Company's Statement of Financial Position 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
a) Critical judgments in applying the Company's accounting policies The directors believe that there are no critical judgments involved in applying the Company's accounting policies that warrant disclosure. b) Key accounting estimates and assumptions The directors believe that there are no key accounting estimates and assumptions involved in applying the Company's accounting policies that warrant disclosure.
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 24
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 25
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 26
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11.Taxation (continued)
There were no factors that may affect future tax charges.
Page 27
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 28
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 30
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 31
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Foreign exchange reserve
Profit and loss account
At 31 December 2024, there were contingent liabilities outstanding in respect of counter indemnities given by the Company, in the normal course of business, to the Company's bond insurance obligors in respect of ABTA travel bonds amounting to £368,000 (2023 - £275,954),
Page 32
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Included in the cash at bank as at 31 December 2024 was £899,339 of restricted cash (2023 - £1,072,805) provided as security for the Company's credit card, ABTA bond and other facilities.
Unrestricted Cash - £17,396,219 Restricted Cash - £899,339 Total Cash - £18,295,558
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension charge represents contributions payable by the Company to the fund and amounted to £105,761(2023 - £74,847). Outstanding contributions amounted to £62,564 (2023 - £56,017) at the year end.
There was an amount owed to Mrs Y Wu at the balance sheet date of £1,048,854 (2023 - £1,255,620) shown as creditors due within one year (See note 17).
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
As at 31st December 2024 the Company had £ £224,568 (2023 - £360,992) due to International Air Transport Association (IATA) for tickets issued in the month of December 2024.
There is a debenture in favour of HSBC Bank Plc created on 3 June 2005. There is a further fixed charge over a cash deposit of £368,000 in respect of ABTA travel bonds and other facilities ( See Note 22).
The ultimate controlling party is Mrs Y Wu , a director of the Company, by virtue of her 100% ownership of the issued share capital of the Company.
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