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COMPANY REGISTRATION NUMBER: 14364876
TourAxis Limited
Filleted Unaudited Financial Statements
31 December 2024
TourAxis Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
TourAxis Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Current assets
Debtors
6
1,103,235
Cash at bank and in hand
58,376
2
------------
----
1,161,611
2
Creditors: amounts falling due within one year
7
1,158,563
------------
----
Net current assets
3,048
2
-------
----
Total assets less current liabilities
3,048
2
-------
----
Net assets
3,048
2
-------
----
Capital and reserves
Called up share capital
2
2
Profit and loss account
3,046
-------
----
Shareholders funds
3,048
2
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 August 2025 , and are signed on behalf of the board by:
Mr J Maritz
Director
Company registration number: 14364876
TourAxis Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Merryweather Place, London, SE10 8BN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of the services above is recognised at the point of tour departure. Monies received by end of the financial period relating to tours departing after the period end are included within current liabilities as revenue received in advance.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 1 ).
5. Investments
Subsidiaries
TourAxis Limited owns 100% of the share capital of TourAxis Africa (Pty) Ltd, a company incorporated in South Africa.
6. Debtors
2024
2023
£
£
Trade debtors
1,065,781
Other debtors
37,454
------------
----
1,103,235
------------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
906,975
Corporation tax
715
Social security and other taxes
246,923
Other creditors
3,950
------------
----
1,158,563
------------
----
8. Related party transactions
During the period the company paid £971,085 in respect of paid employee services provided by companies associated by common control. During the period the company paid £1,123,994 in respect of other services provided by companies associated by common control. During the period the company received £2,180,720 in respect of administrative services rendered to companies associated by common control. At the period end the company owed £884,577 to companies associated by common control. At the period end the company was due £1,071,552 from companies associated by common control.