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Company registration number: 07578980
| FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 OCTOBER 2025
| TRANSFORMA TRAVEL GROUP LTD
TRANSFORMA TRAVEL GROUP LTD |  |
COMPANY INFORMATION
Directors | Ramsay Kerr
| Alexander James Seigel
Registered number | 07578980
Registered office | 4th Floor
| Silverstream House
| 45 Fitzroy Street
| London
| W1T 6EB
Independent auditor | Menzies LLP
| Chartered Accountants & Statutory Auditor
| 4th Floor
| 95 Gresham Street
| London
| EC2V 7AB
TRANSFORMA TRAVEL GROUP LTD |  |
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 9
TRANSFORMA TRAVEL GROUP LTD REGISTERED NUMBER:07578980 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 OCTOBER 2025
|  | 2025 |  | Unaudited 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 1,010,621 |  | -
Tangible assets | 5 |  | 5,329 |  | 4,385
|  |  | 1,015,950 |  | 4,385
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 8,459,558 |  | 5,054,820 |
Cash at bank and in hand |  | 1,262,907 |  | 619,022 |
|  | 9,722,465 |  | 5,673,842 |
Creditors: amounts falling due within one year | 7 | (8,553,296) |  | (4,819,026) |
Net current assets |  |  | 1,169,169 |  | 854,816
Total assets less current liabilities |  |  | 2,185,119 |  | 859,201
Creditors: amounts falling due after more than one year | 8 |  | (2,600,643) |  | (1,121,968)
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 | (949) |  | (1,097) |
|  |  | (949) |  | (1,097)
Net liabilities |  |  | (416,473) |  | (263,864)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 248 |  | 248
Share premium account |  |  | 25,649 |  | 25,649
Profit and loss account |  |  | (442,370) |  | (289,761)
|  |  | (416,473) |  | (263,864)
Page 1
TRANSFORMA TRAVEL GROUP LTD REGISTERED NUMBER:07578980 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 OCTOBER 2025 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Alexander James Seigel
Director
Date: 19 March 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
TRANSFORMA TRAVEL GROUP LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
1. | General information
Transforma Travel Group Limited is a private company, limited by shares and incorporated in England & Wales. The Company's registered office and registered number are detailed on the company information page. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
At the balance sheet date of 31 October 2025 the company shows a deficiency of total assets over total liabilities of £416,473 (2024: £263,864). The Company has obtained a financial support letter from its parent company ( Tranforma Travel Group Limited - Hong Kong) for at least 12 months from the date of approval of the financial statements. The letter confirms that the parent company will provide, where needed, the necessary financial support so that the Company can meet its obligations as they fall due. The directors has satisfied themselves that the parent company is able to provide this support for at least 12 months from the date the financial statements were authorised for issue. In making this assessment, the directors have reviewed group budget and cash flow forecast which shows that the group will be able to meet its obligations as and when they fall due. The directors have also considered how sensitive this cash flow forecast is to reasonably possible scenarios and are satisfied that the group will have sufficient headroom on cash were these scenarios to materialise. Due to the availability of parental support, the financial statements have been prepared on a going concern basis and the directors do not consider there to be any material uncertainty regarding the Company’s ability to continue as a going concern.
| 2.3 | Foreign currency translation
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. Page 3
TRANSFORMA TRAVEL GROUP LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Turnover represents revenue from travel bookings which take place during the period, exclusive of Value Added Tax and trade discounts. Revenue is recognised in the period in which services are provided (at the point of customer departure). Amounts received from customers in advance of travel are recognised as deferred income until the related travel services take place. Where a booking is cancelled and the deposit is non-refundable, the deposit is recognised as revenue at the point the cancellation occurs.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Finance costs
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.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | Pensions
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. Page 4
TRANSFORMA TRAVEL GROUP LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.9 | Current and deferred taxation
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.
| 2.10 | Intangible assets
Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.11 | Tangible fixed assets
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. Page 5
TRANSFORMA TRAVEL GROUP LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.11 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Computer equipment | - | 25% |
|  |  |  | Other fixed assets | - | 25% |
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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 24 (2024 - 24).
4. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| Additions | 1,091,674
| At 31 October 2025 | 1,091,674
| Amortisation |
| Charge for the year | 81,053
| At 31 October 2025 | 81,053
| Net book value |
| At 31 October 2025 | 1,010,621
| At 31 October 2024 | -
Page 6
TRANSFORMA TRAVEL GROUP LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
5. | Tangible fixed assets
|  | Computer equipment | Other fixed assets | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 November 2024 (Unaudited) | - | 17,546 | 17,546
| Additions | 6,020 | - | 6,020
| Disposals | - | (17,546) | (17,546)
| At 31 October 2025 | 6,020 | - | 6,020
| Depreciation |  |  |
| At 1 November 2024 (Unaudited) | - | 13,161 | 13,161
| Charge for the year | 691 | - | 691
| Disposals | - | (13,161) | (13,161)
| At 31 October 2025 | 691 | - | 691
| Net book value |  |  |
| At 31 October 2025 | 5,329 | - | 5,329
| At 31 October 2024 (Unaudited) | - | 4,385 | 4,385
6. | Debtors
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| Trade debtors | 5,051,108 | 2,789,342
| Amounts owed by group undertakings | 1,757,724 | 1,383,656
| Other debtors | 6,686 | 92,882
| Prepayments and accrued income | 1,644,040 | 788,940
|  | 8,459,558 | 5,054,820
Page 7
TRANSFORMA TRAVEL GROUP LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| Bank loans | 32,469 | 55,660
| Trade creditors | 78,239 | 127,484
| Other taxation and social security | 32,516 | 18,184
| Other creditors | 8,563 | 90,497
| Accruals and deferred income | 8,401,509 | 4,527,201
|  | 8,553,296 | 4,819,026
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| Bank loans | - | 32,469
| Amounts owed to group undertakings | 1,518,432 | -
| Other creditors | - | 564,510
| Accruals and deferred income | 1,082,211 | 524,989
|  | 2,600,643 | 1,121,968
| Included within bank loans due within one year and more than one year is £32,469 (2024 - £88,129) secured by way of a fixed and floating charge from HSBC UK Bank PLC over all assets of the Company.
9. | Deferred taxation
|  | 2025
|  | £
| At beginning of year (Unaudited) | (1,097)
| Charged to profit or loss | 148
| At end of year | (949)
Page 8
TRANSFORMA TRAVEL GROUP LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 9.Deferred taxation (continued)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| Fixed assets timing difference | (1,332) | (1,097)
| Short-term timing differences | 383 | -
|  | (949) | (1,097)
10. | Controlling party
The immediate parent and ultimate controlling party of the Company is Transforma Travel Group Limited (Hong Kong), a company incorporated in Hong Kong. The Company's financial statements are included in consolidated accounts drawn up by the parent company, these accounts are not publicly available. The parent company's registered office is Rooms 1380-20, Hollywood Plaza, 610 Nathan Road, Hong Kong.
11. | Auditor's information
The auditor's report on the financial statements for the year ended 31 October 2025 was unqualified. The audit report was signed on 23 March 2026 by Robin Hopkins FCA (Senior Statutory Auditor) on behalf of Menzies LLP.
Page 9