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Registered number: 12901809
GREAT VALUE HOLIDAYS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 APRIL 2025
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GREAT VALUE HOLIDAYS LIMITED
REGISTERED NUMBER: 12901809
STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 September 2025.
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GREAT VALUE HOLIDAYS LIMITED
REGISTERED NUMBER: 12901809
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2025
The notes on pages 6 to 10 form part of these financial statements.
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GREAT VALUE HOLIDAYS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
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Comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 6 to 10 form part of these financial statements.
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GREAT VALUE HOLIDAYS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
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Comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 6 to 10 form part of these financial statements.
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GREAT VALUE HOLIDAYS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
Cash flows from operating activities
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Loss for the financial year
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Increase/(decrease) in creditors
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Increase in amounts owed to groups
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Net cash generated from operating activities
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Net increase/(decrease) in cash and cash equivalents
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Cash and cash equivalents at beginning of year
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Cash and cash equivalents at the end of year
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Cash and cash equivalents at the end of year comprise:
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The notes on pages 6 to 10 form part of these financial statements.
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GREAT VALUE HOLIDAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Great Value Holidays Limited is a private company limited by shares and incorporated in England under registered number 12901809. Its registered office is at 27 Old Gloucester St, Old Gloucester Street, Holborn, London WC1N 3AX.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
The Company’s management and directors review the financial position and the forecasts for the Company on a regular basis, to ensure they are in a position to react to and mitigate the financial impact from any downturn in trading. The directors have made an assessment of the Company’s ability to continue as a going concern, and have considered a number of future scenarios, synthesizing key drivers of the Company’s trading performance, including consumer demand, post balance sheet trading, booking trajectory, and impact from both financial and geopolitical instability. However, economic uncertainty from interest rates and a new UK government means the Company remains in a volatile environment.
The Company benefits from the continued financial support of its parent company 6GT Travel Inc. The Company has prepared budgets and cashflow forecasts to 30 April 2027 which reflect good operational liquidity and profitability.
As a result, and with the Company continuing to receive the full support of its parent company, the directors believe that it is still appropriate to apply the going concern basis for the foreseeable future.
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GREAT VALUE HOLIDAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Income Statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.Turnover represents commissions earned on booked basis.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
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GREAT VALUE HOLIDAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including the directors, during the year was as follows:
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Average number of employees
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Called up share capital not paid
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GREAT VALUE HOLIDAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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Cash and cash equivalents
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Included in the cash at bank as at 30 April 2025 was the sum of £153,650 held in a CAA Escrow Trust Account and are consumer protected restricted funds. The terms of the trust deed are that 70% of all customer monies received for ATOL protected bookings remain within the independently administered CAA Escrow Trust Account until the customer returns from their holiday. The Company's cash at bank as at 30 April 2025 was:
Unrestricted Cash - £119,989
Restricted Cash - £153,650
Total Cash - £273,639
In accordance with the maintenace of the company's ATOL, the Company is required to maintain at all times a minimum unrestricted cash balance of £60,000. Company's cashflows to 30 April 2027 reflect ongoing compliance with this.
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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Included in the amount of £1,167,562 due to group undertakings is a loan off £807,000 which is subject to a subordinated undertaking given to Civil Aviation Authority (CAA) and cannot be repaid without their prior written consent.The loan is interest free.
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GREAT VALUE HOLIDAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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Allotted, called up and fully paid
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1 (2024 - 1) Ordinary share share of £1.00
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The Company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension charge represents contributions payable by the Company to the fund and amounted to £10,032 (2024: £2,710).
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Related party transactions
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DH Enterprise & Associates LLC: DH Enterrpise & Associates LLC, which is under common control of 6GT Travel Inc. provided loan to the Company. Amount owed to the related party, incuded in creditors due after one year £1,167,562 (2024 : £684,399).
Directors and staff employed by the Company have 50% of their wage costs reimbursed to the Company by DH Enterprise & Associates LLC. for their time spent in relation to services provided to that company.
GCS Travel Limited: GCS Travel Limited which is under common control of 6GT Travel Inc., arranged suppliers' payments on behalf of the Company during the year. Amount owed to the related party, included in creditors due within one year £66,132 (2024: £15,166).
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Holding company and controlling party
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The immediate and ultimate holding undertaking is 6GTravel Inc. The ultimate controlling party is Mr B Block a director of the Company, by virtue of his majority ownership of the issued share capital of the holding company 6GTravel Inc. 6GT Travel Inc. is incorporated in United States of America and its registered office is situated at 626 RexCorp Plaza, 6th Floor, Uniondale, New York 11556.
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