Registration number: 03484311

The Institute of Travel Management

(Registration number: 03484311)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	114	3,568
Current assets
Debtors	5	368,052	272,681
Cash at bank and in hand		577,131	545,233
		945,183	817,914
Creditors: Amounts falling due within one year	6	(436,983)	(396,002)
Net current assets		508,200	421,912
Net assets		508,314	425,480
Reserves
Retained earnings		508,314	425,480
Surplus		508,314	425,480

The Institute of Travel Management

(Registration number: 03484311)
Statement of Financial Position as at 31 December 2024

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 22 October 2025 and signed on its behalf by:
 

......................................... Ms G King Director

The Institute of Travel Management

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

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, 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.

The address of its registered office is:
St. Mary's Court
The Broadway
Amersham
Buckinghamshire
HP7 0UT

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

The Institute of Travel Management

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office Equipment	33.3% Straight Line
Fixtures and Fittings	20% Straight Line
Website	20% Straight Line

Leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Financial instruments

Recognition and measurement
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

The Institute of Travel Management

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

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	6,042	33,411	193,396	232,849
Additions	-	2,401	-	2,401
Disposals	-	(1,305)	-	(1,305)
At 31 December 2024	6,042	34,507	193,396	233,945
Depreciation
At 1 January 2024	5,996	29,925	193,360	229,281
Charge for the year	-	5,420	-	5,420
Eliminated on disposal	-	(870)	-	(870)
At 31 December 2024	5,996	34,475	193,360	233,831
Carrying amount
At 31 December 2024	46	32	36	114
At 31 December 2023	46	3,486	36	3,568

5

Debtors

Current	2024 £	2023 £
Trade debtors	338,216	253,356
Prepayments	28,336	17,825
Other debtors	1,500	1,500
	368,052	272,681

The Institute of Travel Management

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

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	39,889	30,529
Taxation and social security	53,422	43,181
Accruals and deferred income	338,580	314,400
Other creditors	5,092	7,892
	436,983	396,002

7	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Not later than one year	1,710	358
Later than one year and not later than five years	2,850	-
	4,560	358