Company No: 08659970 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

J S Thorpe

REGISTERED OFFICE	Unit 44
	Binders Industrial Estate Cryers Hill Road
	Cryers Hill
	High Wycombe
	England
	HP15 6LJ
	United Kingdom

COMPANY NUMBER

08659970 (England and Wales)

ACCOUNTANT	S&W Partners (Thames Valley) Limited
	22 Wycombe End
	Beaconsfield
	Buckinghamshire
	HP9 1NB

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	60,001		67,501
Tangible assets	4	770,288		615,911
		830,289		683,412
Current assets
Debtors	5	203,966		221,145
Cash at bank and in hand		438		0
		204,404		221,145
Creditors: amounts falling due within one year	6	( 439,522)		( 434,750)
Net current liabilities		(235,118)		(213,605)
Total assets less current liabilities		595,171		469,807
Creditors: amounts falling due after more than one year	7	( 400,797)		( 343,983)
Provision for liabilities	8	( 73,785)		( 45,068)
Net assets		120,589		80,756
Capital and reserves
Called-up share capital	9	3		3
Profit and loss account		120,586		80,753
Total shareholder's funds		120,589		80,756

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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Profit and Loss Account has not been delivered.

The financial statements of Harlequin Travel (UK) Limited (registered number: 08659970) were approved and authorised for issue by the Director on 08 June 2026. They were signed on its behalf by:

J S Thorpe Director

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

Harlequin Travel (UK) Limited (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 Unit 44, Binders Industrial Estate Cryers Hill Road, Cryers Hill, High Wycombe, England, HP15 6LJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Harlequin Travel (UK) Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

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:

Other intangible assets

10 years straight line

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:

Plant and machinery etc.	15 % reducing balance
	12 years straight line

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 Profit and Loss Account 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 Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

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.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	11		10

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2025	75,001		75,001
At 31 December 2025	75,001		75,001
Accumulated amortisation
At 01 January 2025	7,500		7,500
Charge for the financial year	7,500		7,500
At 31 December 2025	15,000		15,000
Net book value
At 31 December 2025	60,001		60,001
At 31 December 2024	67,501		67,501

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2025	904,220		904,220
Additions	359,311		359,311
Disposals	( 173,950)		( 173,950)
At 31 December 2025	1,089,581		1,089,581
Accumulated depreciation
At 01 January 2025	288,309		288,309
Charge for the financial year	76,621		76,621
Disposals	( 45,637)		( 45,637)
At 31 December 2025	319,293		319,293
Net book value
At 31 December 2025	770,288		770,288
At 31 December 2024	615,911		615,911

5. Debtors

	2025		2024
	£		£
Trade debtors	4,087		3,421
Amounts owed by Group undertakings	140,014		140,014
Other debtors	59,865		77,710
	203,966		221,145

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	8,904		32,460
Trade creditors	16,454		72,890
Amounts owed to Group undertakings	48,512		87,011
Obligations under finance leases and hire purchase contracts	296,747		141,850
Other creditors	68,905		100,539
	439,522		434,750

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		55,361
Obligations under finance leases and hire purchase contracts	400,797		288,622
	400,797		343,983

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	20,545		0

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 45,068)		( 39,213)
Charged to the Profit and Loss Account	( 28,717)		( 5,855)
At the end of financial year	( 73,785)		( 45,068)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
3 Ordinary shares of £ 1.00 each	3		3

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
Within one year	53,000		72,553
Between one and five years	57,417		110,417
Total future minimum lease payments under non-cancellable operating leases	110,417		182,970

11. Related party transactions

At the year end, the company owed the director £58,579 (2024: £85,079). No interest is payable on this balance.

12. Ultimate controlling party

The ultimate parent of Harlequin Travel (UK) Limited is Thorpes Holdings Limited, a company incorporated and registered in the United Kingdom.