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REGISTERED NUMBER: 01117511 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

Institute Of Travel And Tourism (The)

Institute Of Travel And Tourism (The) (Registered number: 01117511)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Institute Of Travel And Tourism (The)

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr L A Ainsworth
Ms D Allcock
Ms T J Arnone
Mr P A Cowley (Treasurer)
Mr L Cross
Mr L C Davis
Ms A E L Day-Moore
Mr S Endacott
Mr S Freudmann (Chair)
Ms F E Jeffery OBE
Ms B Kolosinska-Marshall
Mr B J Martin
Ms J A Murphy
Ms S Nelson
Mr A Paradiso
Mr D R Pearce
Dr P D W Robinson
Ms L V Rowe
Ms C S J Steiner
Mr D S Waine
Mr C Wilson



REGISTERED OFFICE: 147a High Street
Waltham Cross
EN8 7AP



REGISTERED NUMBER: 01117511 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Robert Boulton FCA



AUDITORS: Thickbroom Coventry
Chartered Accountants
and Statutory Auditors
147a High Street
Waltham Cross
EN8 7AP

Institute Of Travel And Tourism (The) (Registered number: 01117511)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,442 4,631

CURRENT ASSETS
Debtors 5 84,366 100,281
Cash at bank 189,218 318,885
273,584 419,166
CREDITORS
Amounts falling due within one year 6 (207,646 ) (334,678 )
NET CURRENT ASSETS 65,938 84,488
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,380

89,119

CREDITORS
Amounts falling due after more than
one year

7

(5,816

)

(17,068

)

PROVISIONS FOR LIABILITIES (675 ) (675 )
NET ASSETS 62,889 71,376

RESERVES
Income and expenditure account 62,889 71,376
MEMBERS' FUNDS 62,889 71,376

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 17 July 2025 and were signed on its behalf by:



Mr S Freudmann (Chair) - Director



Mr P A Cowley (Treasurer) - Director


Institute Of Travel And Tourism (The) (Registered number: 01117511)

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

1. STATUTORY INFORMATION

Institute Of Travel And Tourism (The) is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Significant judgements and estimates
In the application of the Company's accounting policies and in preparing these financial statements, the directors have made the following judgements, estimates and assumptions:

Determine whether there are indications of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.

Determine whether leases entered into by the company either as a lessor or a lessee are operating or lease of finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

Determine whether there are any circumstances regarding a customer's inability to meet its financial obligation and whether a provision is required against the debt. Factors taken into consideration in reaching such a decision are historical experience and other factors to hand that are considered to be relevant.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
-Subscription Income
Subscriptions income from Individuals and Corporate membership is recognised in full on a receipts basis and is not time apportioned as subscriptions are non refundable. It represents appropriate goods and services provided, excluding VAT and trade discounts.

-Seminars, conference and events
Income from these sources is recognised on an invoiced basis excluding VAT and discounts when the event is provided.

-Other Income
Other income represents the supply of other goods and services on a receivables basis, excluding VAT and trade discounts.

Institute Of Travel And Tourism (The) (Registered number: 01117511)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Website - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Company status
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. It is incorporated in England and Wales, registered office 147a High Street, Waltham Cross, Herts, EN8 7AP.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Institute Of Travel And Tourism (The) (Registered number: 01117511)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings Website Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 3,760 53,706 57,466
DEPRECIATION
At 1 January 2024 2,503 50,332 52,835
Charge for year 345 844 1,189
At 31 December 2024 2,848 51,176 54,024
NET BOOK VALUE
At 31 December 2024 912 2,530 3,442
At 31 December 2023 1,257 3,374 4,631

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 77,061 99,235
Other debtors 7,305 1,046
84,366 100,281

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,000 12,000
Trade creditors 22,023 72,029
Taxation and social security 7,592 6,155
Other creditors 166,031 244,494
207,646 334,678

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 5,816 17,068

Institute Of Travel And Tourism (The) (Registered number: 01117511)

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

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Robert Boulton FCA (Senior Statutory Auditor)
for and on behalf of Thickbroom Coventry