Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31202024-01-01falseNo description of principal activity25falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04083364 2024-01-01 2024-12-31 04083364 2023-01-01 2023-12-31 04083364 2024-12-31 04083364 2023-12-31 04083364 1 2024-01-01 2024-12-31 04083364 d:Director1 2024-01-01 2024-12-31 04083364 d:Director2 2024-01-01 2024-12-31 04083364 c:PlantMachinery 2024-01-01 2024-12-31 04083364 c:PlantMachinery 2024-12-31 04083364 c:PlantMachinery 2023-12-31 04083364 c:PlantMachinery c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04083364 c:FurnitureFittings 2024-01-01 2024-12-31 04083364 c:ComputerEquipment 2024-01-01 2024-12-31 04083364 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 04083364 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 04083364 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 04083364 c:Goodwill 2024-01-01 2024-12-31 04083364 c:Goodwill 2024-12-31 04083364 c:Goodwill 2023-12-31 04083364 c:CurrentFinancialInstruments 2024-12-31 04083364 c:CurrentFinancialInstruments 2023-12-31 04083364 c:Non-currentFinancialInstruments 2024-12-31 04083364 c:Non-currentFinancialInstruments 2023-12-31 04083364 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 04083364 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 04083364 c:Non-currentFinancialInstruments c:AfterOneYear 2024-12-31 04083364 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 04083364 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-12-31 04083364 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-12-31 04083364 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-12-31 04083364 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-12-31 04083364 c:ShareCapital 2024-12-31 04083364 c:ShareCapital 2023-12-31 04083364 c:SharePremium 2024-12-31 04083364 c:SharePremium 2023-12-31 04083364 c:CapitalRedemptionReserve 2024-12-31 04083364 c:CapitalRedemptionReserve 2023-12-31 04083364 c:RetainedEarningsAccumulatedLosses 2024-12-31 04083364 c:RetainedEarningsAccumulatedLosses 2023-12-31 04083364 d:OrdinaryShareClass1 2024-01-01 2024-12-31 04083364 d:OrdinaryShareClass1 2024-12-31 04083364 d:OrdinaryShareClass1 2023-12-31 04083364 d:FRS102 2024-01-01 2024-12-31 04083364 d:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04083364 d:FullAccounts 2024-01-01 2024-12-31 04083364 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04083364 c:Subsidiary1 2024-01-01 2024-12-31 04083364 c:Subsidiary1 1 2024-01-01 2024-12-31 04083364 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 04083364 c:Goodwill c:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 04083364 2 2024-01-01 2024-12-31 04083364 6 2024-01-01 2024-12-31 04083364 c:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 04083364 c:Goodwill c:OwnedIntangibleAssets 2024-01-01 2024-12-31 04083364 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:OwnedIntangibleAssets 2024-01-01 2024-12-31 04083364 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04083364









WORLD TRAVELLERS UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
WORLD TRAVELLERS UK LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WORLD TRAVELLERS UK LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of World Travellers UK Limited for the year ended 31 December 2024 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of World Travellers UK Limited, as a body, in accordance with the terms of our engagement letter dated 13 June 2022Our work has been undertaken solely to prepare for your approval the financial statements of World Travellers UK Limited and state those matters that we have agreed to state to the Board of Directors of World Travellers UK Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than World Travellers UK Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that World Travellers UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of World Travellers UK Limited. You consider that World Travellers UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of World Travellers UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



White Hart Associates (London) Limited
 
Chartered Accountants and Statutory Auditors
  
2 Lower Mortlake Road
Richmond
TW9 2JA
3 July 2025
Page 1

 
WORLD TRAVELLERS UK LIMITED
REGISTERED NUMBER: 04083364

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
30,249
16,919

Tangible assets
 5 
11,218
15,712

Investments
 6 
2
2

  
41,469
32,633

Current assets
  

Debtors: amounts falling due within one year
 7 
3,762,401
4,182,282

Cash at bank and in hand
 8 
1,208
2,123

  
3,763,609
4,184,405

Creditors: amounts falling due within one year
 9 
(5,381,965)
(5,796,625)

Net current liabilities
  
 
 
(1,618,356)
 
 
(1,612,220)

Total assets less current liabilities
  
(1,576,887)
(1,579,587)

Creditors: amounts falling due after more than one year
 10 
(17,505)
(27,598)

  

Net liabilities
  
(1,594,392)
(1,607,185)


Capital and reserves
  

Called up share capital 
 12 
200
200

Share premium account
  
109,627
109,627

Capital redemption reserve
  
26
26

Profit and loss account
  
(1,704,245)
(1,717,038)

  
(1,594,392)
(1,607,185)


Page 2

 
WORLD TRAVELLERS UK LIMITED
REGISTERED NUMBER: 04083364
    
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 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 on 3 July 2025.




K D Harrison
T W L Dunkley
Director
Director

The notes on pages 4 to 16 form part of these financial statements.

Page 3

 
WORLD TRAVELLERS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

World Travellers UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is at 2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond, TW9 2JA. The principal place of business is The Spice Building, 8 Devonshire Square, London, EC2M 4PL.

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

The directors and management continue to review the Company’s financial position, as well as its budgets and forecasts, and plan mitigation actions in order to neutralise the financial impact from any potential downturn in trading.
As a result of these reviews and forecasts, and specifically with the continuing support of the Company's directors, management have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being at least the following 12 months from the signing of these financial statements. 
Consequently, the directors believe that it is still appropriate to apply the going concern basis for the foreseeable future.

Page 4

 
WORLD TRAVELLERS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

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'.

 
2.4

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 commission earned on transport arrangement sales for holidays, recognised on the date of booking basis.

 
2.5

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 5

 
WORLD TRAVELLERS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
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.

 
2.7

Interest income

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

 
2.8

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.

 
2.9

Borrowing costs

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

 
2.10

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.

 
2.11

Taxation

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.

Page 6

 
WORLD TRAVELLERS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

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.

 The estimated useful lives range as follows:

Development expenditure
-
3
years
Goodwill
-
5
years

 
2.13

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.

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:

Fixtures and fittings
-
33%
staright line
Computer equipment
-
25%
staright 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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 7

 
WORLD TRAVELLERS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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.

 
2.17

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2023 - 25).

Page 8

 
WORLD TRAVELLERS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Software development
Goodwill
Total

£
£
£



Cost


At 1 January 2024
16,919
60,000
76,919


Additions
23,624
-
23,624



At 31 December 2024

40,543
60,000
100,543



Amortisation


At 1 January 2024
-
60,000
60,000


Charge for the year on owned assets
10,294
-
10,294



At 31 December 2024

10,294
60,000
70,294



Net book value



At 31 December 2024
30,249
-
30,249



At 31 December 2023
16,919
-
16,919



Page 9

 
WORLD TRAVELLERS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Plant and machinery

£



Cost


At 1 January 2024
539,847


Additions
1,061



At 31 December 2024

540,908



Depreciation


At 1 January 2024
524,135


Charge for the year on owned assets
5,555



At 31 December 2024

529,690



Net book value



At 31 December 2024
11,218



At 31 December 2023
15,712

Page 10

 
WORLD TRAVELLERS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
2



At 31 December 2024
2





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

Holiday Booking Management Limited
Ordinary
100%

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit

Holiday Booking Management Limited

973,954
162,308

Page 11

 
WORLD TRAVELLERS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
8,435
8,205

Amounts owed by group undertakings
41,789
17,315

Other debtors
14,769
19,067

Prepayments and accrued income
3,697,408
4,137,695

3,762,401
4,182,282



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,208
2,123

1,208
2,123



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,093
9,794

Trade creditors
454,814
450,728

Amounts owed to group undertakings
4,408,654
4,735,926

Corporation tax
1,179
741

Other taxation and social security
46,825
347,475

Other creditors
418,425
168,147

Accruals and deferred income
41,975
83,814

5,381,965
5,796,625


Page 12

 
WORLD TRAVELLERS UK 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
17,505
27,598

17,505
27,598



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,093
9,794


10,093
9,794

Amounts falling due 1-2 years

Bank loans
10,398
10,093


10,398
10,093

Amounts falling due 2-5 years

Bank loans
7,107
17,505


7,107
17,505


27,598
37,392


Included above is an unsecured bank loan from Company's bankers, National Westminster Bank Plc, under the Bounce Back Loan Scheme (BBLS). The loan is for a term of 6 years, with no capital repayments for the first 18 months. There is also no interest payable for the first 12 months, with a rate of 2.5% per annum charged thereafter.

Page 13

 
WORLD TRAVELLERS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary shares shares of £1.00 each
200
200



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £11,011 (2023: £13,630). Contributions totalling £1,725 (2023: £2,665) were payable to the fund at the reporting date and are included in creditors.

Page 14

 
WORLD TRAVELLERS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Related party transactions


During the period, the Company entered into the following related party transactions:
 


2024
2023
£
£

Holiday Booking Management Limited


A wholly owned subsidiary. The Company's directors, T W L Dunkley and K D Harrison, are also directors of the company.

 
Management charges receivable from Holiday Booking Management Limited
2,233,350
2,810,000

Amount due to Holiday Booking Management Limited
(4,290,554)
(4,694,976)

 
MB Travel & Technology IP Holdings Limited


A group company registered in Ireland. The Company's directors, T W L Dunkley and K D Harrison, are also directors of the company, and T W L Dunkley is also a shareholder. The Company's ultimate holding company, Hammersmith Holdings (Canada) Limited, is also a shareholder.


Fees paid to the related party for computer and software services provided
-
44,931

Amount due from MB Travel & Technology IP Holding Limited
17,682
17,315


MB Worldwide Travel Holdings Limited


A group company registered in Ireland. The Company's ultimate holding company, Hammersmith Holdings (Canada) Limited, is a shareholder.


Management fees paid to the related party
-
146,655

Amount due to the related party (included in trade creditors and amounts owed to group undertakings)
(54,401)
(59,723)


Philosophia Limited


A related company. One of the Company's directors, T W L Dunkley, is also a director and shareholder of Philosophia Limited.

Consultancy fees paid to the related party
-
100,000

Lending fees paid to the related party
9,000
11,000

Amount due to the related party (included in trade creditors)
(120,000)
(124,800)





Page 15

 
WORLD TRAVELLERS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 
Open Water Consulting Inc


A related company registered in Canada. One of the Company's directors, K D Harrison, is also a director and shareholder of Open Water Consulting Inc.

Consultancy fees paid to the related party
(100,000)
100,000

Amount due to the related party (included in trade creditors)
(56)
(100,065)


T W L Dunkley


A director of the company


Loan amount due to the related party (included in other creditors)
(320,000)
(100,000)

Interest paid on loan
-
-


Magic Breaks Limited


A group company. The Company's directors, T W L Dunkley and K D Harrison, are also directors of the company


Amount due from/(to) Magic Breaks Limited
21,112
(14,950)


Magic Breaks (Ireland) Limited


A group company registered in Ireland. The Company's directors, T W L Dunkley and K D Harrison, are also directors of the company


Amount due from Magic Breaks (Ireland) Ltd
2,995
-

 
Hammersmith Holdings (Canada) Limited


The ultimate holding company, registered in Canada.


Amount due to Hammersmith Holdings (Canada) Limited
(95,000)
-


15.


Post balance sheet events

There are no material post balance sheet events affecting the Company.


16.


Controlling party

The immediate and ultimate holding company is Hammersmith Holdings (Canada) Limited, a company registered in Canada.
The ultimate controlling party is a director, K D Harrison, by virtue of his controlling interest in Hammersmith Holdings (Canada) Limited.

 
Page 16