REGISTERED NUMBER: 03619504 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MIDAS TRAVEL MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D Sullivan

REGISTERED OFFICE:

55 Loudoun Road

St John's Wood

London

NW8 0DL

REGISTERED NUMBER:

03619504 (England and Wales)

AUDITORS:

MGR Weston Kay LLP

Statutory Auditors

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Tangible assets

4

8,445

13,486

CURRENT ASSETS

Debtors

5

1,771,041

1,661,760

Cash at bank

838,566

1,336,359

2,609,607

2,998,119

CREDITORS

Amounts falling due within one year

6

(1,066,483

)

(1,397,076

)

NET CURRENT ASSETS

1,543,124

1,601,043

TOTAL ASSETS LESS CURRENT LIABILITIES

1,551,569

1,614,529

CREDITORS

Amounts falling due after more than one year

7

(200,000

)

(440,000

)

NET ASSETS

1,351,569

1,174,529

CAPITAL AND RESERVES

Called up share capital

9

100,000

100,000

Retained earnings

1,251,569

1,074,529

SHAREHOLDERS' FUNDS

1,351,569

1,174,529

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 Profit And Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 September 2025 and were signed by:

D Sullivan - Director

1.	STATUTORY INFORMATION

Midas Travel Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised on booking date.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% Straight line

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

46,378

Additions

1,833

At 31 March 2025

48,211

DEPRECIATION

At 1 April 2024

32,892

Charge for year

6,874

At 31 March 2025

39,766

NET BOOK VALUE

At 31 March 2025

8,445

At 31 March 2024

13,486

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

279,147

275,475

Amounts owed by group undertakings

910,453

910,453

Other debtors

581,441

475,832

1,771,041

1,661,760

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts (see note 8)

240,000

240,000

Trade creditors

397,075

749,184

Taxation and social security

330,062

311,378

Other creditors

99,346

96,514

1,066,483

1,397,076

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans (see note 8)

200,000

440,000

8.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due within one year or on demand:

Bank loans

240,000

240,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

200,000

440,000

The bank loan is secured by a fixed charge and a government guarantee.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100,000

Ordinary

£1

100,000

100,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nigel Walfisz FCA (Senior Statutory Auditor)

for and on behalf of MGR Weston Kay LLP

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the director owed the company £528,993 (2024: £460,454).

12.	PARENT COMPANY

Midas Travel Management Holding Limited is the parent company, whose registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.