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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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ALTOUR INTERNATIONAL LIMITED
COMPANY INFORMATION
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ALTOUR INTERNATIONAL LIMITED
CONTENTS
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ALTOUR INTERNATIONAL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their annual report for Altour International Limited (the Company) for the year ended 31 December 2024.
The principal activity of the Company during the year continued to be as direct corporate travel (travel agent)
based in The United Kingdom, France & The Netherlands. The Company continued to make strong progress in delivering exceptional travel services for the business community, as demonstrated by the significant revenue growth achieved during the year. Our Mission: To support our network of travel advisors with industry-leading programs, products, and resources, enabling them to deliver remarkable experiences for our clients. Our Vision: To be widely acknowledged as the leading provider of exceptional, human-centred travel expertise to clients and consumers globally. Our Values: • Clients First: We are dedicated to amplifying the capabilities of our travel advisors and agencies worldwide. Their achievements reflect our own, and they remain our foremost priority. • We, Not Me: Our success is grounded in collaboration, strong relationships, and collective effort. The strength of our advisors, clients, partners, and staff drives our momentum. • Human Always: Our business is rooted in human connection. Trust, integrity, experience, empathy, and meaningful relationships define our culture and business operations. • Act As Owners: Every team member is empowered to lead with accountability. We are encouraged to make decisions and consistently strive to do what is right. • Go The Extra Mile: We aim for excellence in all we do. Mediocrity hinders innovation. Just as our advisors exceed expectations for clients, we are committed to doing the same for them and one another. • Everyone Belongs: We champion a culture that values diversity, inclusivity, and mutual respect, welcoming varied perspectives and people from all backgrounds.
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ALTOUR INTERNATIONAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Consumer demand
Potential Impact: Decreased profitability Mitigation: We actively collect customer feedback to align our services with market trends. Regular pricing reviews and adjustments in marketing strategies help ensure competitiveness and responsiveness. Competitive risks Potential impact: Potential loss of market share to competitors Mitigation: The directors remain closely attuned to industry developments and are prepared to take strategic actions as necessary. Business closure due to any health emergency Potential impact: Temporary shutdown with revnue loss. Mitigation: Cost control measures and contingency plans are in place to navigate unexpected challenges, along with support from our parent organisations. Key supplier management Potential impact: Loss of key supplier relationships. Mitigation: We maintain transparent communications and ensure timely payments, adhering to established protocols. Operating costs may not be controlled Potential impact: Reduced profitability. Mitigation: Deviations in costs are swiftly addressed with corrective measures to maintain financial discipline. Business continuity and IT Systems Potential impact: Operational disruption due to system failure. Mitigation: We rely on robust IT systems and continuously invest in software and hardware upgrades. Regular data backups ensure minimal disruption. Liquidity Risk Potential impact: Insufficient working capital. Mitigation: Directors closely monitor cash flow and working capital, ensuring adequate financial resources are in place. Credit risk Potential impact: Losses due to unpaid client invoices Mitigation: Strict credit control policies are enforced. We encourage clients to pay via direct debit or card to limit exposure. Lack of sustainability improvements. Potential impact:Inability to meet environmental and social goals or influence supply chain practices Mitigation: Sustainability is embedded in our strategic framework. We work toward measurable environmental and social progress internally and with partners.
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ALTOUR INTERNATIONAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
While conflicts in Israel/Palestine and Russia/Ukraine continued through the year, overall demand for travel remained resilient. The Company continues to see a strong growth in customer confidence, translating into higher revenues across its operations.
The Directors express satisfaction with the Company’s overall performance during the year. Funding, liquidity and going concern As of 31 December 2024, the Company recorded net assets of £4.043 million (2023: £4.170 million) and net current liabilities of £4.174 million (2023: £2.628 million) The directors have evaluated the Company's ability to continue as a going concern, with further details provided in note 2.3 of the accounting policies. They are confident that the Company has adequate resources for ongoing operations and have thus prepared the accounts on a going concern basis. Employee involvement and communication We continue to encourage active participation from employees, seeking their input on business matters through regular surveys. These insights are instrumental in driving improvements across the UK operations. Internova’s dedication to employee development and well-being remains unwavering. We prioritize a positive, supportive workplace environment that enables personal and professional growth. We advocate for transparency, mutual respect, and continuous learning. Opportunities for advancement and skill-building ensure that our team members feel empowered and appreciated. Initiatives include mentorship, flexible work options, training programs, and wellness efforts—all aimed at helping employees realise their full potential. Their engagement and progress are vital to our shared success. We promote two-way communication through forums, team gatherings, and quarterly townhalls, ensuring open and ongoing dialogue with our teams. Disabled employees The Company remains committed to considering all qualified applicants, including those with disabilities. Where feasible, we continue employing individuals who become disabled and provide necessary training and development to support their career progression.
The directors have confirmed no material events have occurred since the date of approval of these financial statements that would affect the financial statements of the Company.
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ALTOUR INTERNATIONAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
This report was approved by the board and signed on its behalf.
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ALTOUR INTERNATIONAL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Directors present their report and the financial statements for the year ended 31 December 2024.
The profit for the year, after taxation, amounted to £1,223,329 (2023 - loss £46,365).
Dividends paid in the year amounted to £1,350,000 (2023: Nil).
The Directors who served during the year were:
The auditors, Xeinadin Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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ALTOUR INTERNATIONAL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
This report was approved by the board and signed on its behalf.
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ALTOUR INTERNATIONAL LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the and to enable them to ensure that the financial statements comply with the Companies Act 2006. also responsible for safeguarding the assets of the and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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ALTOUR INTERNATIONAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALTOUR INTERNATIONAL LIMITED
We have audited the financial statements of Altour International Limited (the 'Company') for the year ended 31 December 2024, which comprise the Profit and loss account, the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In forming our opinion, we have considered the adequacy of the disclosures made in the financial statements concerning the company's ability to continue as a going concern.
Based on the work we have performed, and comments made in Note 2.3, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
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ALTOUR INTERNATIONAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALTOUR INTERNATIONAL LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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ALTOUR INTERNATIONAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALTOUR INTERNATIONAL LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Enquiry of management and those charged with governance around actual and potential litigation and
claims; - Reviewing minutes of meetings of meetings of those charged with governance; - Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias - Enquiry of management and those charged with governance to identify any instances of non-compliance with laws and regulations; The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the Company is subject to laws and regulations that directly affect the financial statements including financial reprting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the Company is subject to many other laws and regulations where the consequence of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance the imposition of fines or litigation or the loss of the Company's license to operate. We identified the following areas as those most likely to have such an effect: health and safety including data protection laws, employment law compliance recognising the nature of the Company’s activities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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ALTOUR INTERNATIONAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALTOUR INTERNATIONAL LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Registered Auditor
36 Old Jewry
EC2R 8DD
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ALTOUR INTERNATIONAL LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
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ALTOUR INTERNATIONAL LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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ALTOUR INTERNATIONAL LIMITED
REGISTERED NUMBER: 03797791
BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 16 to 32 form part of these financial statements.
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