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Registered number: 07144473









BUFFALO TOURS UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
BUFFALO TOURS UK LIMITED
REGISTERED NUMBER: 07144473

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,972
2,226

  
1,972
2,226

Current assets
  

Debtors: amounts falling due within one year
 5 
566,174
557,524

Cash at bank and in hand
 6 
30,177
33,546

  
596,351
591,070

Creditors: amounts falling due within one year
 7 
(10,759)
(10,300)

Net current assets
  
 
 
585,592
 
 
580,770

Total assets less current liabilities
  
587,564
582,996

Provisions for liabilities
  

Deferred tax
 8 
(621)
(557)

  
 
 
(621)
 
 
(557)

Net assets
  
586,943
582,439


Capital and reserves
  

Called up share capital 
 9 
30,000
30,000

Capital redemption reserve
 10 
85,000
85,000

Profit and loss account
 10 
471,943
467,439

  
586,943
582,439


Page 1

 
BUFFALO TOURS UK LIMITED
REGISTERED NUMBER: 07144473
    
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 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 income statement 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 11 June 2025.




S Y Lee
Director

The notes on pages 5 to 11 form part of these financial statements.

Page 2

 
BUFFALO TOURS UK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2024
30,000
85,000
467,439
582,439


Comprehensive income for the year

Profit for the year
-
-
4,504
4,504
Total comprehensive income for the year
-
-
4,504
4,504


At 31 December 2024
30,000
85,000
471,943
586,943


The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
BUFFALO TOURS UK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
30,000
85,000
462,686
577,686


Comprehensive income for the year

Profit for the year
-
-
4,753
4,753
Total comprehensive income for the year
-
-
4,753
4,753


At 31 December 2023
30,000
85,000
467,439
582,439


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
BUFFALO TOURS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Buffalo Tours UK Limited is a private company limited by shares and incorporated in England under registered number 07144473. Its registered office is 2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond, TW9 2JA.

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 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.

The following principal accounting policies have been applied:

  
2.2

Going concern

Due to the consumer unease in relation to the current economic environment, with increasing energy costs and inflation impact directors have continued to review the Company’s financial position, as well as forecasts and plan mitigation actions in order to neutralise the financial impact from any significant downturn in trading.
The directors have carefully considered all aspects of the Company's finances to ensure that the Company has sufficient financial resources to operate throughout the next 12 months. The directors have also implemented cost control measures. The Company also has the continuing financial support of its group. 
The directors believe it is appropriate to complete these accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Turnover represents the total of all travel arrangements organised by the Company travelling within the year plus group recharges.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
BUFFALO TOURS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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 6

 
BUFFALO TOURS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (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:

Plant and machinery
-
33%

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 7

 
BUFFALO TOURS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

2024
2023
£
£

Wages and salaries
195,500
225,489

Social security costs
23,280
18,928

Cost of defined contribution scheme
5,894
5,744

224,674
250,161


The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2024
6,443


Additions
828


Disposals
(3,679)



At 31 December 2024

3,592



Depreciation


At 1 January 2024
4,217


Charge for the year on owned assets
1,082


Disposals
(3,679)



At 31 December 2024

1,620



Net book value



At 31 December 2024
1,972



At 31 December 2023
2,226

Page 8

 
BUFFALO TOURS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
565,246
552,519

Other debtors
678
3,315

Prepayments and accrued income
250
1,690

566,174
557,524


Included in prepayments and accrued income is the sum of £Nil (2023 - £1,690) of supplier payments made in advance for departures post 31 December 2024.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
30,177
33,546

30,177
33,546



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
311
-

Other taxation and social security
5,648
5,012

Other creditors
-
968

Accruals and deferred income
4,800
4,320

10,759
10,300


Page 9

 
BUFFALO TOURS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Deferred taxation




2024


£






At beginning of year
(557)


Charged to profit or loss
(64)



At end of year
(621)

2024
2023
£
£


Accelerated capital allowances
(621)
(557)

(621)
(557)


9.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



30,000 (2023 - 30,000) Ordinary shares of £1.00 each
30,000
30,000



10.


Reserves

Profit and loss account

The profit and loss account represents the net distributable reserves of the company at the date of the statement of financial position.


11.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held seperately 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 £5,894 (2023: £5,744). 


12.


Related party transactions

Buffalo Tours (Singapore) Pte. Limited, the holding company based in Singapore. Normal arms length inter-company balance. Amount due from the related party (included in debtors owed from group undertakings) £565,246 (2023: £552,519).

Page 10

 
BUFFALO TOURS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Holding company

The immediate holding company is Buffalo Tours (Singapore) Pte. Limited, a company incorporated in Singapore whose registered office is 30 Cecil Street, #22-01/08 Prudential Tower, 049712 Singapore.


14.


Controlling party

The ultimate controlling party is Flight Centre Travel Group Limited by virtue of its controlling ownership of the holding company Buffalo Tours (Singapore) Pte. Limited. Flight Centre Travel Group Limited is incorporated in Australia and its registered office is situated at 275 Grey Street, South Brisbane, Australia.

 
Page 11