REGISTERED NUMBER: 15499324 (England and Wales)

CREIGIAU TRAVEL EMPLOYEE OWNERSHIP

TRUSTEE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

18TH FEBRUARY 2024 TO 28TH FEBRUARY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Miss T J Johnson

Mr S M Matthews

Miss L Thomas

REGISTERED OFFICE:

Station Yard Station Road

Creigiau

Cardiff, Wales

United Kingdom

CF15 9NT

REGISTERED NUMBER:

15499324 (England and Wales)

ACCOUNTANTS:

Carston ETL

Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

FIXED ASSETS

Investments

4

3,398,387

CREDITORS

Amounts falling due within one year

5

1,358,232

NET CURRENT LIABILITIES

(1,358,232

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,040,155

CREDITORS

Amounts falling due after more than one year

6

2,445,507

NET LIABILITIES

(405,352

)

RESERVES

Income and expenditure account

(405,352

)

MEMBERS' FUNDS

(405,352

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28th February 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 28th February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th November 2025 and were signed on its behalf by:

Mr S M Matthews - Director

1.	STATUTORY INFORMATION

Creigiau Travel Employee Ownership Trustee Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	FIXED ASSET INVESTMENTS

The company holds 60% of the ordinary shares in Creigiau Travel Limited (Company No. 03268068), incorporated in England and Wales. The investment is stated at cost less impairment.

Cost of investment: £3,398,387

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed to group undertakings

607,182

Other creditors

751,050

1,358,232

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

2,445,507

7.	RELATED PARTY DISCLOSURES

The company has a loan from its subsidiary, Creigiau Travel Limited, amounting to £607,182 at the balance sheet date. The loan is unsecured, interest-free, and repayable on demand.

The company also incurred interest charges on deferred consideration payable to former shareholders of Creigiau Travel Limited. One of these individuals is now a director of the company. Interest accrued to this director during the year was £134,680. The balance owed to this director at the year-end was £1,065,169. The deferred consideration is unsecured and repayable under the terms of the share purchase agreement.