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Company No: 03463596 (England and Wales)

# ARGO DEVELOPMENTS LIMITED (TRADING AS UNIGLOBE TOTAL TRAVEL)

### Unaudited Financial Statements
For the financial year ended 31 December 2025
Pages for filing with the registrar

ARGO DEVELOPMENTS LIMITED (TRADING AS UNIGLOBE TOTAL TRAVEL)

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

ARGO DEVELOPMENTS LIMITED (TRADING AS UNIGLOBE TOTAL TRAVEL)

## STATEMENT OF FINANCIAL POSITION

As at 31 December 2025
ARGO DEVELOPMENTS LIMITED (TRADING AS UNIGLOBE TOTAL TRAVEL)

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 4 | 25,688 |  | 34,251
Tangible assets | 5 | 24,312 |  | 31,923
|  | 50,000 |  | 66,174
Current assets |  |  |  |
Debtors | 6 | 548,837 |  | 601,393
Cash at bank and in hand |  | 1,002,273 |  | 806,593
|  | 1,551,110 |  | 1,407,986
Creditors: amounts falling due within one year | 7 | ( 1,569,755) |  | ( 1,436,998)
Net current liabilities |  | (18,645) |  | (29,012)
Total assets less current liabilities |  | 31,355 |  | 37,162
Creditors: amounts falling due after more than one year | 8 | ( 25,000) |  | ( 117,500)
Net assets/(liabilities) |  | 6,355 |  | ( 80,338)
Capital and reserves |  |  |  |
Called-up share capital | 9 | 40,003 |  | 40,003
Profit and loss account |  | ( 33,648 ) |  | ( 120,341 )
Total shareholders' funds/(deficit) |  | 6,355 |  | ( 80,338)

For the financial year ending 31 December 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 financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Argo Developments Limited (Trading as Uniglobe Total Travel) (registered number: 03463596) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

L R Gotch Director |

19 June 2026

ARGO DEVELOPMENTS LIMITED (TRADING AS UNIGLOBE TOTAL TRAVEL)

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
ARGO DEVELOPMENTS LIMITED (TRADING AS UNIGLOBE TOTAL TRAVEL)

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Argo Developments Limited (Trading as Uniglobe Total Travel) (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom. The principal place of business is First Floor, 1 Theobald Court, Theobald Street, Borehamwood, Herts, WD6 4RN.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

##### Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover represents gross sales and commissions receivable as travel agents in the United Kingdom, excluding VAT.
The revenue is recognised at the time of booking.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 10 years straight line
Other intangible assets | 10 years straight line

###### Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

###### Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of 10 years which is their estimated useful economic life. Provision is made for any impairment.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | depreciated over the life of the lease
Plant and machinery | 3 years straight line
Vehicles | 25 % reducing balance
Fixtures and fittings | 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

##### Ordinary share capital

The ordinary share capital of the company is presented as equity.

##### Franchise fees

Franchise fees is written off in equal annual instalments over its estimated useful economic life.

#### 2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

#### 3. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 15 |  | 15

#### 4. Intangible assets

| Goodwill |  | Other intangible assets |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 January 2025 | 260,888 |  | 15,000 |  | 275,888
At 31 December 2025 | 260,888 |  | 15,000 |  | 275,888
Accumulated amortisation |  |  |  |  |
At 01 January 2025 | 226,637 |  | 15,000 |  | 241,637
Charge for the financial year | 8,563 |  | 0 |  | 8,563
At 31 December 2025 | 235,200 |  | 15,000 |  | 250,200
Net book value |  |  |  |  |
At 31 December 2025 | 25,688 |  | 0 |  | 25,688
At 31 December 2024 | 34,251 |  | 0 |  | 34,251

The directors' do not consider there to be any permanent impairment in the value of Goodwill.

#### 5. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 January 2025 | 4,253 |  | 14,920 |  | 53,640 |  | 22,868 |  | 95,681
Additions | 0 |  | 553 |  | 0 |  | 0 |  | 553
At 31 December 2025 | 4,253 |  | 15,473 |  | 53,640 |  | 22,868 |  | 96,234
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 January 2025 | 3,827 |  | 14,920 |  | 25,353 |  | 19,658 |  | 63,758
Charge for the financial year | 426 |  | 185 |  | 7,072 |  | 481 |  | 8,164
At 31 December 2025 | 4,253 |  | 15,105 |  | 32,425 |  | 20,139 |  | 71,922
Net book value |  |  |  |  |  |  |  |  |
At 31 December 2025 | 0 |  | 368 |  | 21,215 |  | 2,729 |  | 24,312
At 31 December 2024 | 426 |  | 0 |  | 28,287 |  | 3,210 |  | 31,923

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 405,964 |  | 463,122
Corporation tax | 16,524 |  | 6,647
Other debtors | 126,349 |  | 131,624
| 548,837 |  | 601,393

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans and overdrafts | 436,521 |  | 605,210
Trade creditors | 1,041,701 |  | 741,555
Taxation and social security | 69,843 |  | 26,073
Obligations under finance leases and hire purchase contracts | 0 |  | 5,493
Other creditors | 21,690 |  | 58,667
| 1,569,755 |  | 1,436,998

There are no amounts included above in respect of which any security has been given by the small entity.

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 25,000 |  | 117,500

There are no amounts included above in respect of which any security has been given by the small entity.

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
40,000 Ordinary shares of £ 1.00 each | 40,000 |  | 40,000
1 Non-Voting A Shares ordinary share of £ 1.00 | 1 |  | 1
1 Non-Voting B Shares ordinary share of £ 1.00 | 1 |  | 1
1 Non-Voting C Shares ordinary share of £ 1.00 | 1 |  | 1
| 40,003 |  | 40,003

#### 10. Financial commitments

Commitments

The company has given a debenture as security to its bankers.

| 2025 |  | 2024
| £ |  | £
Total future minimum lease payments under non-cancellable operating leases | 49,245 |  | 65,213

#### 11. Related party transactions

Transactions with the entity's directors

Advances

An advance for £33,911 (2024: £15,271) was made to the directors at the balance sheet date. The balance includes interest of £816 (2024: £393). The loan was partially repaid 9 months after the period end.

Other related party transactions

Disclosure exemption under Section 1AC.35 of FRS 102 has been applied, therefore, transactions which have been concluded under normal market conditions have not been disclosed.