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REGISTERED NUMBER: 03081948 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Olympia Europe Travel Agency Ltd

Olympia Europe Travel Agency Ltd (Registered number: 03081948)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Olympia Europe Travel Agency Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: G Shechter
S Yoon Kim





REGISTERED OFFICE: Thatcher House
12 Mount Ephraim
Tunbridge Wells
Kent
TN4 8AS





REGISTERED NUMBER: 03081948 (England and Wales)





ACCOUNTANTS: Ward Mackenzie Ltd
Chartered Accountants
Thatcher House
12 Mount Ephraim
Tunbridge Wells
Kent
TN4 8AS

Olympia Europe Travel Agency Ltd (Registered number: 03081948)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 167,477
Tangible assets 5 9,353 (147,498 )
9,353 19,979

CURRENT ASSETS
Debtors 6 5,168,139 5,580,440
Cash at bank 503,974 638,503
5,672,113 6,218,943
CREDITORS
Amounts falling due within one year 7 (218,473 ) (946,635 )
NET CURRENT ASSETS 5,453,640 5,272,308
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,462,993

5,292,287

CAPITAL AND RESERVES
Called up share capital 51,200 51,200
Retained earnings 8 5,411,793 5,241,087
SHAREHOLDERS' FUNDS 5,462,993 5,292,287

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 June 2025 and were signed on its behalf by:



G Shechter - Director


Olympia Europe Travel Agency Ltd (Registered number: 03081948)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Olympia Europe Travel Agency Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

TAXATION
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

FOREIGN CURRENCY
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.

Olympia Europe Travel Agency Ltd (Registered number: 03081948)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 January 2024 243,152
Reclassification/transfer (200,838 )
At 31 December 2024 42,314
AMORTISATION
At 1 January 2024 75,675
Amortisation for year 5,928
Reclassification/transfer (39,289 )
At 31 December 2024 42,314
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 167,477

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 101,130 (131,099 ) (29,969 )
Additions - 4,694 4,694
Reclassification/transfer (77,269 ) 278,107 200,838
At 31 December 2024 23,861 151,702 175,563
DEPRECIATION
At 1 January 2024 99,820 17,709 117,529
Charge for year 710 8,682 9,392
Reclassification/transfer (84,940 ) 124,229 39,289
At 31 December 2024 15,590 150,620 166,210
NET BOOK VALUE
At 31 December 2024 8,271 1,082 9,353
At 31 December 2023 1,310 (148,808 ) (147,498 )

Olympia Europe Travel Agency Ltd (Registered number: 03081948)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,895,921 3,737,312
Bad debt provision - (89,569 )
Amounts owed by group undertakings 271,498 1,939,366
Other debtors - 209
VAT 720 1,009
Prepayments - (7,887 )
5,168,139 5,580,440

The directors consider the carrying value of trade and other receivables approximate to their fair values.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 66,788 259,217
Corporation tax 60,284 361,791
Social security and other tax 10,780 10,486
Other creditors 79,857 257,227
Accrued expenses 764 57,914
218,473 946,635

The directors consider the carrying amounts of current liabilities approximate to their fair values.

8. RESERVES
Retained
earnings
£   

At 1 January 2024 5,241,087
Profit for the year 170,706
At 31 December 2024 5,411,793

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

9. ULTIMATE CONTROLLING PARTY

The company knows or has reasonable cause to believe that there is no registrable person or registrable relevant legal entity in relation to the company.