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Registered number: 00472065
BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
COMPANY INFORMATION
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Steve Tyler (resigned 25 April 2025)
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Claire Loscombe (resigned 28 February 2025)
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Nathan Bullas (appointed 23 October 2024)
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White Hart Associates (London) Limited
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Chartered Accountants and Statutory Auditors
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
CONTENTS
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Independent Auditors' Report
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Statement of Comprehensive Income
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their strategic report for the year ended 31 March 2025.
The Company is required by the Companies Act to set out in this report, a fair review of the business and of the Company during the year ended 31 March 2025, and the position of the Company at the end of the period, together with a description of the principal risks and uncertainties facing the Company. This review is prepared solely to provide additional information to shareholders to assess the Company's strategies to succeed and the business review should not be relied upon by any other party or for any other purpose. This report forms only a part of the Company's financial statements, a full copy of which can be obtained at the Company's registered office.
The directors are satisfied with the performance of the Company during the year. The Company's recovery in recent years has been hampered by geopolitical tensions and rising costs, which have put pressure on the disposable income available to consumers. The Company has worked hard to take a proactive approach to travel disruptions and has a focus on caring for customers, benefitting the Company's brands with high levels of customer confidence and satisfaction, reflected in review scores of 4.8 for both the Broadway Travel and the Inspired Luxury Escapes brands on Trustpilot.
The business has invested in new technology with enhanced capabilities being rolled out in Q3 of next year. Emphasis has been placed on accessibility to a wider more in-depth product portfolio in real time, enabling greater choice and flexibility for the consumer and a seamless more efficient process for the business. In conjunction with the product offering the business has developed new advanced websites and has taken ownership of these platforms and source codes adding value to the business in the medium term. The business will continue to enhance and develop these platforms in line with customer trends and demand with the ever-evolving AI advancements in search capability. The business will have more control with these investments having the ability to adapt swiftly to the changing landscape.
The Company continues to manage its cost base, with a view to making reductions as necessary by taking action in relation to discretionary expenditure and to minimise overheads where possible.
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Key performance indicators
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Gross Retail Turnover - "GRT"
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Turnover - commissions and margin
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Turnover as a percentage of GRT
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Loss on ordinary activities before taxation
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Loss on ordinary activities as a percentage of GRT
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Underlying Earnings before interest, taxation, depreciation and amortisation - "EBITDA"
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Underlying EBITDA as a percentage of GRT
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Principal risks and uncertainties
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The following risk factors may affect the Company's operating results and its financial position. The risk factors described below are those which the directors believe are potentially significant but should not be regarded as a complete and comprehensive statement of all potential risks and uncertainties facing the Company. The directors do not feel that the risks in 2025-26 will be much different to those that were prevalent in 2024-25.
Economic uncertainty - The demand for holidays is affected by local economic conditions. During 2024 and into 2025, geopolitical wars and tensions have affected the cost of holiday arrangements and resulted in consumers having less discretionary spending available for holiday travel. However, this has been compensated by the high level of consumer demand for holidays. This, combined with consumer unease in relation to the current economic environment, has meant that the Company’s management have continued to review the Company’s financial position, as well as forecasts, and plan mitigation actions in order to neutralise any potential financial impact on trading performance.
Regulatory risks - The Company is exposed to various regulators, including the Civil Aviation Authority ("CAA") which issues an Air Travel Organisers Licence ("ATOL") and is required in order for the Company to operate. This licence is renewed in September each year and is subject to assessments of fitness and financial criteria, the framework of which is available on the CAA website (www.caa.co.uk). The Company is also a member of the Association of British Travel Agents ("ABTA") and as such is obliged to maintain a high standard of service governed by ABTA's code of conduct.
The Company operates in a highly competitive market featuring innovation in the travel products and the methods by which it is marketed, as well as price pressures. The Company seeks to constantly invest in its brand to increase public awareness as well as offer a wide selection of products from a wide range of suppliers at competitive prices to maintain its market position. The Company also monitors competitor activity closely.
The Company is exposed to foreign exchange rate risk when it purchases overseas holiday services in currencies other than British Pounds. Monetary assets and liabilities are translated at the exchange rate prevailing at the statement of financial position date. All exchange gains and losses so arising are taken to the income statement. The Company partially hedges this risk and where not hedged, the Company bears the risk associated with such foreign exchange movements.
The Company has well established and close relationships with customers and suppliers and risk is spread by not placing over-reliance on any one supplier in any particular area. However, if a relationship were lost or damaged with a major supplier this could have a detrimental effect on the business. The management team meets regularly with suppliers to maintain good working relationships and to understand the supplier's financial position.
The Company is heavily reliant on the uninterrupted operation of its IT systems and website. These systems are vulnerable to power loss, fire, computer viruses and other events. Loss of these systems would impair the ability of the Company to carry on its business effectively. The Company has made arrangements to mitigate this risk.
The Company finances its operations through retained profits. The Company's exposure to interest rate fluctuations on its cash deposits are managed by using short term and floating deposits.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Principal risks and uncertainties (continued)
The nature of the business exposes the Company to various commercial risks which may affect the trading performance of the Company. These include:
- acts of terrorism, particularly in key tourist destinations
- epidemics in key tourist destinations which threaten the health of tourists
- wars or other international uncertainty which affects air travel
- natural disasters in key tourist destinations
- weather conditions, both in the UK and key tourist destinations
- changes in customer behaviour and preferences
- increase in government taxes
These factors may affect the Company by causing potential customers to cancel or postpone travel plans, reducing the earnings potential of the Company. The Company seeks to minimise such risks by offering products in a wide range of destinations.
This report was approved by the board on 18 September 2025 and signed on its behalf.
Jill Louise Mitchell
Director
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
Directors' responsibilities statement
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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 judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards 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 Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' Reports may differ from legislation in other jurisdictions.
The Company's principal activity during the period continued to be that of travel agents with some tour operating activities. The Company is a member of ABTA and also holds an Air Travel Organisers Licence ("ATOL") No. 3634 granted by the Civil Aviation Authority.
The loss for the year, after taxation, amounted to £112,726 (2024 - loss £548,423).
No interim dividends were paid during the period ended 31 March 2025.
The directors do not recommend a final dividend for the period, making the total distribution of dividends for the period ended 31 March 2025 £Nil (2024 - £Nil).
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The directors who served during the year were:
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Steve Tyler (resigned 25 April 2025)
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Claire Loscombe (resigned 28 February 2025)
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Nathan Bullas (appointed 23 October 2024)
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During the forthcoming accounting period, the directors aim to continue to implement new management policies to boost profitable trading for the Company.
Research and development activities
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The Company has historically made significant investment in developing its online model. This has lead to a better customer experience and the financial forecast predicts a return on this investment in the next few years.
Matters covered in the Strategic Report
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The directors have disclosed additional performance data for the Company in the Strategic Report, which is included within this set of financial statements. This includes a review of the performance of the business and the key performance indicators, as well as the main risks faced by the business.
Disclosure of information to auditors
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Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and
∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Post balance sheet events
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During 2025, the Company will continue to operate as outlined in the principal activity note above.
Following the year-end, the Company received further investment of £400,000 on 23 May 2025, with plans for additional investment to be secured in coming months.
There have been no other significant events affecting the Group since the year end, except for the continued effects of geopolitical wars and tensions, which has had a significant impact upon the national economy, as described in note 2.3.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The auditors, White Hart Associates (London) Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 18 September 2025 and signed on its behalf.
Jill Louise Mitchell
Director
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
We have audited the financial statements of Broadway Travel Service (Wimbledon) Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, 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).
In our opinion the financial statements:
∙give a true and fair view of the state of the Company's affairs as at 31 March 2025 and of its loss for the year then ended;
∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
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.
We draw attention to the deferred tax asset of £1,100,601 recognised within debtors falling due within and after one year. The directors believe that a deferred tax asset should be recognised for all tax losses that were carried forward at year end, due to the fact that these tax losses can be carried forward indefinitely until they are utilised against taxable profits arising in future periods. The directors expect losses of £100,000 to be utilised in the year to 31 March 2026 and have therefore recognised a deferred tax asset due within one year to match that expectation. The directors expect the remaining carried forward tax losses of £4,679,812 to be utilised either in the year to 31 March 2027, or in subsequent periods. Consequently, the directors have recognised a deferred tax asset due after one year of £1,075,601 in relation to tax losses that are expected to be utilised after 31 March 2026. Our audit opinion is not modified in respect of these matters.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED (CONTINUED)
Material uncertainty related to going concern
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In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosure made in note 2.3 to the financial statements concerning the Company's ability to continue as a going concern.
As explained in note 2.3, the travel industry was significantly impacted by the COVID-19 pandemic and the post-pandemic recovery period has been hindered by geopolitical wars and tensions, along with rising costs which have impacted both the Company's cost base as well as discretionary income available to consumers. These problematic trading conditions negatively impacted the Company’s trade, the Company’s current assets, as well as its immediate and projected cash flows.
We draw attention to note 2.3 of the financial statements as to the review and actions undertaken by the Board of Directors to ensure that the Group has adequate resources to continue trading for at least 12 months. The financial statements have therefore been prepared on a going concern basis.
In response to the uncertainty created during the COVID-19 pandemic, the Company secured an overdraft facility of £1.7million through the Coronavirus Business Interuption Loan Scheme ("CBILS"), which became due for repayment on 5 August 2024, the details of which are disclosed in note 18 to the financial statements. This overdraft facility has been extended to November 2026, at a reduced limit of £1.45million.
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 evaluation of the directors' assessment of the Company's ability to continue to adopt the going concern basis of accounting included obtaining and testing the Company's budgets and forecasts for the years ended 31 March 2026 and 31 March 2027, including reviewing the key assumptions behind these from the latest available information, both internal and external; reviewing the continuing steps taken by management to manage liquidity, control current costs, utilise government assistance and raise further finance; reviewing the Company's continued compliance and correspondence with its key regulator, the Civil Aviation Authority (CAA) and assessing any threat to the continuation of its Air Travel Organisers Licence (ATOL); reviewing the minutes of the regular Board meetings and performing an overall assessment of the Company's internal finance function and controls. The ATOL is key to the Company's ability to continue trading and is due for renewal on 30 September 2025. As at the date of signing these financial statements, renewal terms have been agreed in writing, but the Company's ATOL has not yet been renewed.
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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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROADWAY TRAVEL SERVICE (WIMBLEDON) 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.
Opinion on other matters prescribed by the Companies Act 2006
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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.
Matters on which we are required to report by exception
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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.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of directors' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
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As explained more fully in the Directors' Responsibilities Statement set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
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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:
- We exercise professional judgment and maintain professional skepticism throughout the audit;
- We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the deliberate override of internal control;
- We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control;
- We evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made;
- We assess the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business;
- We review the scope of the Company's compliance with The Package and Linked Travel Arrangements Regulations 2018 (“PTRs”) and sample test relevant documentation to assess this and the effectiveness of its control environment;
- We request and review the minutes of management meetings, and assess any matters identified not already provided for or disclosed that may materially impact the financial statements;
- We conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the entity to cease to continue as a going concern.
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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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROADWAY TRAVEL SERVICE (WIMBLEDON) 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.
Ms N A Spoor FCA FCCA (Senior Statutory Auditor)
for and on behalf of
White Hart Associates (London) Limited
Chartered Accountants and Statutory Auditors
Second Floor
Nucleus House
2 Lower Mortlake Road
Richmond
TW9 2JA
18 September 2025
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
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Gross Retail Turnover ("GRT")
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Exceptional administrative expenses
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Interest receivable and similar income
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Interest payable and similar expenses
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Loss for the financial year
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Other comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 17 to 38 form part of these financial statements.
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Earnings Before Interest, Taxation, Depreciation and Amortisation (EBITDA)
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Revaluation (gains)/losses on derivative financial instruments
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Depreciation of tangible fixed assets
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
REGISTERED NUMBER: 00472065
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Current asset investments
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Creditors: amounts falling due within one year
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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 financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 September 2025.
The notes on pages 17 to 38 form part of these financial statements.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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At 1 April 2023 (as restated)
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Comprehensive income for the year
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At 31 March 2024 (as restated)
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Comprehensive income for the year
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Contributions by and distributions to owners
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Shares issued during the year
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The notes on pages 17 to 38 form part of these financial statements.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
Cash flows from operating activities
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Loss for the financial year
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Depreciation of tangible assets
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(Decrease)/increase in creditors
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Net fair value (gains)/losses recognised in P&L
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Net cash generated from operating activities
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Cash flows from investing activities
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Purchase of intangible fixed assets
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Purchase of tangible fixed assets
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Net cash from investing activities
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Cash flows from financing activities
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Net cash used in financing activities
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Net (decrease)/increase 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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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MARCH 2025
The notes on pages 17 to 38 form part of these financial statements.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
As disclosed in the Directors' Report, the principal activity of the Company in the period under review continued to be that of travel agents with some tour operating activities. The Company is a member of ABTA and also holds an Air Travel Organisers Licence ("ATOL") No. 3634 granted by the Civil Aviation Authority.
The Company is a private company limited by shares and is incorporated in England. The address of the Company's principal place of business, being the same as the registered office stated on the Company Information page, is:
Amber Court
William Armstrong Drive
Newcastle Business Park
Newcastle Upon Tyne
NE4 7YA
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 (see note 3).
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company is exempt from the requirement to prepare consolidated financial statements as all of its subsidiaries are required to be excluded from consolidation by section 402 of the Companies Act 2006, as a result of the fact that their inclusion is not material for the purpose of giving a true and fair view of the Group's activity for the year.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
The travel industry was significantly impacted by the COVID-19 pandemic and the post-pandemic recovery period has been hindered by geopolitical wars and tensions, along with rising costs which have impacted both the Company's cost base as well as discretionary income available to consumers. These events caused many consumers to cancel, amend or defer their travel arrangements, negatively impacting the Company’s trade, current assets and both its immediate and projected cash flows. As a result, Company management and the directors have continued to review the Company’s financial position, as well as forecasts and plan mitigation actions in order to neutralise the potential financial impact from any further significant downturns in trading.
Additionally, they have also performed a sensitivity analysis on the Company's budgets and forecasts to assess the financial impact of any potential further slowdown in trading from the reforecast and its impact on the liquidity of the business. This sensitivity analysis shows that the Company has enough liquidity and cash to trade through a further slowdown.
Company management and the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being at least the following 12 months from the signing of these financial statements.
As described in note 30, since the year-end, the Company has received further investment of £400,000 on 23 May 2025, with plans for additional investment to be secured in coming months.
Additionally, as described in note 19, since year-end the Company has agreed to extend its overdraft facility of £1.45million to November 2026.
The Company is continuing to receive the full support of its majority shareholder, Mr Nathan Bullas, as evidenced by his personal guarantee of £790,000 over the Company's bank loans and the provision of investment by way of preference shares acquired during the year totalling £911,250. A further £1.2million of investment is expected to be received from Mr Nathan Bullas, although this has not yet been received as at the date of signing of these financial statements. Mr Nathan Bullas has committed to continue to provide sufficient financial assistance to enable the Company to continue its operations for a minimum period of 18 months from the date of signing of these financial statements. As a result, the directors believe that it is still appropriate to apply the going concern basis for the foreseeable future.
Turnover represents the value, net of value added tax and discounts, of holiday and travel arrangements provided by the Company recognised on the date of booking basis.
Turnover is attributable to one continuing activity.
Gross retail turnover ("GRT") is the total gross sales amounts receivable in respect of the travel and holiday arrangements for the period. Note 23 of FRS 102 requires the statutory turnover to be that of the net commission carried.
Trade debtors still represent gross amounts receivable in respect of travel and holiday arrangement sales and trade creditors still represent gross amounts payable in respect of travel arrangements and holiday accommodation purchases.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 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 Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Research and development work continues to be directed towards websites' ability to deliver effective search results for customers. This requires the developers to continually undertake improvements to the software architecture.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation is provided on the following basis:
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.
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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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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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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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
a) Critical judgments in applying the Company's accounting policies
The directors believe that there are no critical judgments involved in applying the Company's accounting policies that warrant disclosure.
b) Key accounting estimates and assumptions
The directors believe that there are no key accounting estimates and assumptions involved in applying the Company's accounting policies that warrant disclosure.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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An analysis of turnover by class of business is as follows:
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Sales - commissions and margin
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Analysis of turnover by source market:
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The operating loss is stated after charging:
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Other operating lease rentals
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During the year, the Company obtained the following services from the Company's auditors:
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Fees payable to the Company's auditors for the audit of the Company's financial statements
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Staff costs, including directors' remuneration, were as follows:
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Cost of defined contribution scheme
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The average monthly number of employees, including the directors, during the year was as follows:
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Company contributions to defined contribution pension schemes
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During the year retirement benefits were accruing to 3 directors (2024 - 3) in respect of defined contribution pension schemes.
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The highest paid director received remuneration of £163,090 (2024 - £160,063).
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The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £1,321 (2024 - £1,101).
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Interest payable and similar expenses
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Adjustments in respect of previous periods
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Origination and reversal of timing differences
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Taxation on loss on ordinary activities
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11.Taxation (continued)
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Factors affecting tax charge for the year
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The tax assessed for the year is higher than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
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Loss on ordinary activities before tax
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Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)
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Expenses not deductible for tax purposes
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Capital allowances for year in excess of depreciation
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Adjustments to tax charge in respect of prior periods
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Unrelieved tax losses carried forward
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Total tax charge for the year
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Factors that may affect future tax charges
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There were no factors that may affect future tax charges.
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The Company incurred exceptional losses in the prior year in relation to redundancy costs that resulted from restructuring within the Company.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Software capitalised during the year is part of a project which is expected to go live on 1 November 2025, at which point amortisation will be accrued on a straight line basis over 5 years.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Charge for the year on owned assets
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Investments in subsidiary companies
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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The following was a subsidiary undertaking of the Company:
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Broadway Transport Limited
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Vertically integrated transport company
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The aggregate of the share capital and reserves as at 31 March 2025 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:
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Aggregate of share capital and reserves
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Broadway Transport Limited
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Due after more than one year
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Prepayments and accrued income
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Current asset investments
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The market value of listed investments at 31 March 2025 was £10,237 (2024 - £10,237).
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Cash and cash equivalents
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The Company is an ATOL Accredited Body and is required by the Civil Aviation Authority ("CAA") to maintain a mandatory ATOL Trust Account for the Broadway Travel Consortia ("BTC") members. The trust is independently and professionally managed by PT Trustees Limited ("PTT").
In addition, since 1 August 2020, the Company has similarly protected its own ATOL bookings via a trust account.
Included within cash at bank and in hand above, as at 31 March 2025, is the sum of £6,464,547 (2024 - £6,967,652) held in the Trust Account, to be released based upon a set of rules agreed with the CAA and PTT which provide consumer protection for ATOL bookings.
As a requirement of the Company’s ATOL, the Company must maintain a minimum free cash floor of £1million at all times, which is calculated as the Company’s total unrestricted cash less restricted amounts in the CAA Trust Account. The Directors have prepared financial forecasts until 30 September 2026 which reflect the Company’s projected adherence to this requirement.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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On 26 September 2020, the Company secured a Revolving Credit Facility ("RCF") of £2.2million with its bankers pursuant to the Coronavirus Large Business Interuption Loan Scheme ("CLBILS"), originally due to run to 26 September 2023. On 19 April 2021, the RCF was converted to a three year overdraft facility under the Coronavirus Business Interuption Loan Scheme ("CBILS"), due for repayment by 4 May 2024. During the year, this overdraft was reduced to £1.45million and has been extended to November 2026. Although the overdraft facility was agreed for three years, the bank was able to request repayment on demand as a general feature of the overdraft facility. As a result, the overdraft was classed as a current liability within the financial statements.
The facility was fully drawn as at 31 March 2025. Interest has been accrued at LIBOR plus a margin. The margin contained within the facility has been set at 3.25%.
The Company also secured a term loan on 19 April 2021 under the CBIL scheme totalling £2.8million, repayable over six years. This loan was later amended down to £1.75million on 17 December 2021 because the original full amount was not necessary. At the end date of these financial statements and the date of the audit report, the Company has drawn the entirety of the £1.75million term loan. Interest has been accrued at LIBOR plus a margin of 3.8%.
To support the above CBILS overdraft and loan facilities, fixed and floating charges were registered with Companies House in favour of Santander UK PLC on 6 November 2020 and on 12 May 2021 respectively. The latter charge was satisfied on 5 January 2024.
Mr Nathan Bullas, the majority shareholder of the Company, has provided a personal guarantee to the bank totalling £790,000 in relation to the funding facilities above.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Bank loans due within one year
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Bank loans due within 1-2 years
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Bank loans due within 2-5 years
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Charged to profit or loss
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The deferred tax asset is made up as follows:
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Accelerated capital allowances
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Tax losses carried forward
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Deferred tax liabilities relating to accelerated capital allowances will be reversed as the Company claims capital allowances on the tax value of its tangible fixed assets, being on a reducing balance basis at 18%.
Deferred tax assets relating to tax losses carried forward will be reversed against taxable profits as they are recognised in future periods. Due to the fact that these tax losses can be carried forward indefinitely, the directors believe that a deferred tax asset should be recognised for all tax losses until they are utilised. The directors expect losses of £100,000 to be utilised in the year to 31 March 2026 and have therefore recognised a deferred tax asset due within one year to match that expectation. The directors expect the remaining carried forward tax losses of £4,679,812 to be utilised either in the year to 31 March 2027, or in subsequent periods. Consequently, the directors have recognised a deferred tax asset due after one year of £1,075,601 in relation to tax losses that are expected to be utilised after 31 March 2026.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Allotted, called up and fully paid
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1,000,000 (2024 - 1,000,000) Ordinary shares of £0.05 each
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1,350,000 (2024 - Nil) Preference shares of £1.00 each
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Allotted, called up and partly paid
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12,000,000 (2024 - 12,000,000) Ordinary shares of £0.05 each
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The Ordinary shares of £0.05 each carry full voting rights, full dividend rights and full rights to participation in any capital distribution on winding up.
The Preference shares of £1.00 each carry no voting rights, no coupon rate and no fixed dividend, only receiving preference over the shareholders of Ordinary shares in the event of a liquidation of the Company.
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On 31 December 2024, the Company converted a loan of £382,000 from The Bullas Family Discretionary Trust and a loan of £618,000 from Mr Nathan Bullas into 1,000,000 Preference shares of £1.00 each.
Additionally, on 28 February 2025, the Company issued 350,000 Preference shares of £1.00 each, which were paid for at par.
Profit and loss account
The profit and loss account represents all current and prior period retained profits and losses, less any dividends paid to the Company's parent.
The comparatives for the year ended 31 March 2024, along with the Company's reserves as at 1 April 2023, have been restated following the settlement of an appeal into Accelerated Payment Notices of £352,624 on 19 July 2024. These Accelerated Payments Notices related to activity in the year ended 30 September 2012 and so, with the appeal now having been closed, the amounts paid have been taken to historic reserves. The effect of the restatement was to reduce opening reserves at 1 April 2023 by £352,624, with no other impact on profits for the year ended 31 March 2024.
At 31 March 2025, there were contingent liabilities outstanding in respect of counter indemnities and guarantees given by the Company, in the normal course of business, to the Company's bond insurance obligors in respect of ABTA travel bonds amounting to £218,110 (2024 - £217,538). The current ABTA bonds run until 31 October 2025.
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £42,255 (2024 - £39,249). Contributions totalling £Nil (2024 - £Nil) were payable to the fund at the reporting date and are included in creditors.
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Commitments under operating leases
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The Company had no commitments under non-cancellable operating leases at the reporting date.
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Related party transactions
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The related party transactions for the period ended 31 March 2025 are as follows:
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A company which shares some common directors
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Beds With Ease Limited derived holiday accommodation commissions from Broadway Travel Service (Wimbledon) Limited, amounting to:
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The company cross-charged overheads applicable to the trading of Beds With Ease Limited, amounting to:
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Amount due from/(to) the related party included in trade and other debtors/(creditors):
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Amount due from/(to) the related party included in trade creditors:
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BWT Business Solutions Private Limited
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A company incorporated in India which shares a common director
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Cross-charged overheads from the related party:
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Amount due from/(to) the related party included in trade creditors:
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BROADWAY TRAVEL SERVICE (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Post balance sheet events
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During 2025, the Company will continue to operate as outlined in the principal activity note.
Following the year-end, the Company received further investment of £400,000 on 23 May 2025, with plans for additional investment to be secured in coming months.
There have been no other significant events affecting the Group since the year end, except for the continued effects of geopolitical wars and tensions, which has had a significant impact upon the national economy, as described in note 2.3.
The Company is controlled by Mr Nathan Bullas, by virtue of his ownership of 67.5% of the issued share capital of the Company.
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