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Company registration number:
SC035448
DP&L Travel Limited
Unaudited Filleted Financial Statements for the year ended
30 September 2025
DP&L Travel Limited
Statement of Financial Position
30 September 2025

|  | 2025 | 2024
--- | --- | --- | ---
| Note | £ | £
Fixed assets |  |  |  |  |
Tangible assets | 5 | 43,783 |  | 62,005 |
Investments | 6 | 3,753 |  | 3,753 |
|  | 47,536 |  | 65,758 |
Current assets |  |  |  |  |
Debtors | 7 | 1,234,262 |  | 1,256,998 |
Cash at bank and in hand |  | 601,633 |  | 491,511 |
|  | 1,835,895 |  | 1,748,509 |
Creditors: amounts falling due within one year | 8 | (1,305,704 | ) | (1,216,050 | )
Net current assets |  | 530,191 |  | 532,459 |
Total assets less current liabilities |  | 577,727 |  | 598,217 |
Creditors: amounts falling due after more than one year | 9 | (13,388 | ) | (17,364 | )
Provisions for liabilities |  | (3,195 | ) | (7,469 | )
Net assets |  | 561,144 |  | 573,384 |
Capital and reserves |  |  |  |  |
Called up share capital |  | 120,000 |  | 120,000 |
Profit and loss account |  | 441,144 |  | 453,384 |
Shareholders funds |  | 561,144 |  | 573,384 |

For the year ending
30 September 2025
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
9 March 2026
, and are signed on behalf of the board by:

Mr Alexander Melville Bisset
Director

Company registration number:
SC035448
DP&L Travel Limited
Notes to the Financial Statements
Year ended
30 September 2025

## 1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
First Floor 2b Valentine Court
,
Kinnoull Road
,
Dundee
,
DD2 3QB
, United Kingdom.

## 2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

## 3 Accounting policies

## Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

## Going concern

The financial statements have been prepared on a going concern basis. The directors have considered relevant information including the financial projections, future cash flows and the impact of subsequent events in making their assessment. The directors have performed a robust analysis of forecast future cash flows taking into account the potential impact on the business of possible future scenarios arising from rising costs and general economic conditions. This analysis also considers the effectiveness of available measures to assist in mitigating the impact.
Based on these assessments and having regard to resources available to the company, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis.

## Turnover

Turnover represents fees and commission and, rebates and overrides received from suppliers (all of which is stated net of Value Added Tax). Commission earned on the sale of holidays is credited to the Income statement income upon receipt of full payment from the customer.

## Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

## Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land and buildings | 10% straight line
Fixtures, fittings and equipment | 10-33% straight line
Motor vehicles | 25% straight line

## Fixed asset investments

Fixed asset investments are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit and loss.

## Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

## Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

## Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

## Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

## Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

## Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

## Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

## Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

## 4 Average number of employees

The average number of persons employed by the company during the year was
15
(2024:
15
).

## 5 Tangible assets

| Land and buildings | Plant and machinery etc. | Total
--- | --- | --- | ---
| £ | £ | £
Cost |  |  |  |  |  |
At 1 October 2024 | 112,387 |  | 165,544 |  | 277,931 |
Additions | 1,250 |  | 999 |  | 2,249 |
At 30 September 2025 | 113,637 |  | 166,543 |  | 280,180 |
Depreciation |  |  |  |  |  |
At 1 October 2024 | 99,425 |  | 116,501 |  | 215,926 |
Charge | 1,893 |  | 18,578 |  | 20,471 |
At 30 September 2025 | 101,318 |  | 135,079 |  | 236,397 |
Carrying amount |  |  |  |  |  |
At 30 September 2025 | 12,319 |  | 31,464 |  | 43,783 |
At 30 September 2024 | 12,962 |  | 49,043 |  | 62,005 |

Included in other creditors are hire purchase creditors of £17,364 (2024: £27,072) secured against specific fixed assets of the company.

## 6 Investments

| Other investments other than loans
--- | ---
| £
Cost |  |
At 1 October 2024 | 3,753 |
At 30 September 2025 | 3,753 |
Impairment |  |
At 1 October 2024 and 30 September 2025 | - |
Carrying amount |  |
At 30 September 2025 | 3,753 |
At 30 September 2024 | 3,753 |

## 7 Debtors

| 2025 | 2024
--- | --- | ---
| £ | £
Trade debtors | 721,817 |  | 791,425 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 408,439 |  | 374,982 |
Other debtors | 104,006 |  | 90,591 |
| 1,234,262 |  | 1,256,998 |

## 8 Creditors: amounts falling due within one year

| 2025 | 2024
--- | --- | ---
| £ | £
Trade creditors | 873,674 |  | 694,691 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest | - |  | 191,700 |
Taxation and social security | 21,622 |  | 11,748 |
Other creditors | 410,408 |  | 317,911 |
| 1,305,704 |  | 1,216,050 |

At 30 September 2025, a Financial Institute has provided a Bond on behalf of the company for ABTA for £25,000 (2024: £25,000).
The Royal Bank of Scotland holds a bond and floating charge over all the assets of the company. The company has granted to its a bankers a cross guarantee in respect of the company's bank balance and those of all other group companies.
Other creditors include £268,563 due to invoice discounters (2024: £77,976). A balance due to invoice discounters is secured against the trade debtors balance.
Included in Trade Creditors is £167,712 (2024: £146,469) due to IATA through its Billing and Settlement Plan.

## 9 Creditors: amounts falling due after more than one year

| 2025 | 2024
--- | --- | ---
| £ | £
Other creditors | 13,388 |  | 17,364 |

## 10 Operating leases

The company as lessee |  |  |  |
| 2025 | 2024
--- | --- | ---
| £ | £
Not later than 1 year | 72,500 |  | 69,936.00 |
Later than 1 year and not later than 5 years | 238,750.00 |  | 249,744.00 |
Later than 5 years | 131,250.00 |  | 154,071.00 |
| 442,500 |  | 473,751 |

## 11 Controlling party

The company is a wholly owned subsidiary undertaking of Cortachy Holdings Limited, a company incorporated in Scotland. Cortachy Holdings Limited is a wholly owned subsidiary undertaking of DP & L Holdings Limited of which Alexander Melville Bisset is the controlling director. The financial statements of DP & L Holdings Limited may be obtained from First Floor 2b Valentine Court, Kinnoull Road, Dundee, Scotland, DD2 3QB.