COMPANY REGISTRATION NUMBER:
14526492
|
Filleted Unaudited Financial Statements |
|
Year ended 31 December 2024
|
Statement of financial position |
1 |
|
|
|
Notes to the financial statements |
2 |
|
|
|
Statement of Financial Position |
|
31 December 2024
Current assets
|
Debtors |
5 |
2,964,888 |
– |
|
Cash at bank and in hand |
268,577 |
100 |
|
------------ |
---- |
|
3,233,465 |
100 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
3,827,110 |
– |
|
------------ |
---- |
|
Net current (liabilities)/assets |
(
593,645) |
100 |
|
--------- |
---- |
|
Total assets less current liabilities |
(
593,645) |
100 |
|
--------- |
---- |
|
Net (liabilities)/assets |
(
593,645) |
100 |
|
--------- |
---- |
|
|
|
|
Capital and reserves
|
Called up share capital |
100 |
100 |
|
Profit and loss account |
(
593,745) |
– |
|
--------- |
---- |
|
Shareholders (deficit)/funds |
(
593,645) |
100 |
|
--------- |
---- |
|
|
|
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:
Company registration number:
14526492
|
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, United Kingdom.
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.
Going concern
As at 31 December 2024 the company had a net liabilities of £593,645, which included a loan due to a related party company of £1,544,618. However, the financial statements have been prepared on a going concern basis as the related party company has pledged its continuing support for a minimum of 12 months from the date of issuing these financial statements.
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 travel 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.
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.
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 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
2
(2023:
1
).
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
239,349 |
– |
|
Other debtors |
2,725,539 |
– |
|
------------ |
---- |
|
2,964,888 |
– |
|
------------ |
---- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
2,766,374 |
– |
|
Social security and other taxes |
8,570 |
– |
|
Other creditors |
1,052,166 |
– |
|
------------ |
---- |
|
3,827,110 |
– |
|
------------ |
---- |
|
|
|
7.
Related party transactions
During the period the company paid £46,404 in respect of paid employee services provided by companies associated by common control. During the period the company paid £1,020,650 in respect of administrative services provided by companies associated by common control. During the period the company paid £4,622,661 in respect of other services provided by companies associated by common control. At the period end the company owed £2,696,675 to companies associated by common control. At the period end the company was due £1,456,698 from companies associated by common control.