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Registered number:
FOR THE PERIOD ENDED 30 APRIL 2025
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POWDER24 LIMITED
COMPANY INFORMATION
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POWDER24 LIMITED
CONTENTS
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POWDER24 LIMITED
GROUP STRATEGIC REPORT
FOR THE PERIOD ENDED 30 APRIL 2025
The directors present their strategic report for the period ended 30 April 2025.
The Group is engaged in the organisation and sale of package holidays, primarily focused on ski and mountain-based travel.
The year to 30 April 2025 saw strong demand for winter travel, with passenger numbers exceeding the prior year. The business continued to control costs carefully, with a particular focus on accommodation contracting and transport efficiency, which supported improved margins. Broader economic conditions remained challenging, with inflationary pressures across Europe and ongoing geopolitical uncertainties. Household budgets in the UK remained under pressure during the year, with higher living costs affecting discretionary spending on travel. Despite this, demand for ski trips proved resilient, supported by strong loyalty among returning customers. The Group’s cash position remained strong, with net cash at the year end of £4.7m and net assets of £7.4m. This provides a solid foundation for future trading and ensures the Group is well placed to meet its obligations and support ongoing investment. Liquidity is managed closely, with no significant external funding required. Looking ahead, the Board expects demand for ski travel to remain resilient. The Group will continue to invest in booking systems, broaden its product offering, and strengthen supplier contracts to support sustainable growth.
The principal risks faced by the Group are:
∙Economic environment – Reduced consumer confidence or disposable income could dampen demand. The Group mitigates this through product diversification and strong customer relationships.
∙Foreign exchange – A significant portion of supplier costs are denominated in euros. Adverse movements could affect margins. The Group manages this through a structured hedging programme.
∙Regulatory and bonding requirements – As a tour operator, the Group must comply with travel regulations and maintain bonding. Failure to do so could restrict trading. Compliance is actively monitored and bonding facilities are maintained.
∙Seasonality – Revenues are concentrated in the winter ski season, creating a seasonal working capital cycle. This is managed through careful cash flow forecasting and holding appropriate reserves.
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POWDER24 LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
The Board uses a range of KPIs, including:
This report was approved by the board and signed on its behalf.
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POWDER24 LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 APRIL 2025
The directors present their report and the financial statements for the period ended 30 April 2025.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the period, after taxation, amounted to £1,361,841 (2024 - £NIL).
There were dividends paid during the period of £500,000 (2024: £Nil).
The directors who served during the period were:
The Group intends to continue investment in booking systems, strengthen supplier relationships, and consider new product opportunities to support future growth. The Group’s financial position provides a stable base to support these developments.
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POWDER24 LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
There have been no significant events affecting the Group since the period end.
The auditors, Xeinadin Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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POWDER24 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF POWDER24 LIMITED
We have audited the financial statements of Powder24 Limited (the 'parent Company') and its subsidiaries (the 'Group') for the period ended 30 April 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company 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).
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 Group 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.
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.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
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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POWDER24 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF POWDER24 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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POWDER24 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF POWDER24 LIMITED (CONTINUED)
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 Group 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:
∙Enquiry of management and those charged with governance around actual and potential litigation and claims;
∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
∙Enquiry of management and those charged with governance to identify any instances of non-compliance with laws and regulations.
The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the Group is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the Group is subject to many other laws and regulations where the consequence of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance the imposition of fines or litigation. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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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POWDER24 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF POWDER24 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
Becket House
36 Old Jewry
EC2R 8DD
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POWDER24 LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30 APRIL 2025
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POWDER24 LIMITED
REGISTERED NUMBER: 15222044
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2025
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POWDER24 LIMITED
REGISTERED NUMBER: 15222044
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 21 to 40 form part of these financial statements.
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POWDER24 LIMITED
REGISTERED NUMBER: 15222044
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2025
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POWDER24 LIMITED
REGISTERED NUMBER: 15222044
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 21 to 40 form part of these financial statements.
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