REGISTERED NUMBER: SC161728 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

COLPITTS WORLD TRAVEL LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Coffman

J C Bufton

N J Matthews

SECRETARY:

N J Matthews

REGISTERED OFFICE:

Cairncross House

First Floor

25 Union Street

Edinburgh

Midlothian

EH1 3LR

REGISTERED NUMBER:

SC161728 (Scotland)

AUDITORS:

S&W Audit

Statutory Auditor

Chartered Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

FIXED ASSETS

Tangible assets

4

14,398

21,746

CURRENT ASSETS

Debtors

5

4,053,624

3,489,701

Cash at bank

719,940

810,590

4,773,564

4,300,291

CREDITORS

Amounts falling due within one year

6

(537,263

)

(823,663

)

NET CURRENT ASSETS

4,236,301

3,476,628

TOTAL ASSETS LESS CURRENT LIABILITIES

4,250,699

3,498,374

PROVISIONS FOR LIABILITIES

8

(3,314

)

(5,151

)

NET ASSETS

4,247,385

3,493,223

CAPITAL AND RESERVES

Called up share capital

60,000

60,000

Retained earnings

4,187,385

3,433,223

SHAREHOLDERS' FUNDS

4,247,385

3,493,223

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2026 and were signed on its behalf by:

J Coffman - Director

1.	STATUTORY INFORMATION

Colpitts World Travel Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

TURNOVER

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Turnover is recognised at the point a booking is made.

TANGIBLE FIXED ASSETS

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery etc

33.33% straight line & 16.66% straight line

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.

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 the profit or loss.

FINANCIAL INSTRUMENTS

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset, carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. lf a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2024 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2025

35,960

Additions

1,560

At 31 December 2025

37,520

DEPRECIATION

At 1 January 2025

14,214

Charge for year

8,908

At 31 December 2025

23,122

NET BOOK VALUE

At 31 December 2025

14,398

At 31 December 2024

21,746

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,970,723

1,712,921

Amounts owed by group undertakings

1,593,691

1,521,943

Other debtors

165,956

179,575

Tax

286,048

75,262

Prepayments and accrued income

37,206

-

4,053,624

3,489,701

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

123,763

96,288

Social security and other taxes

-

22,843

Other creditors

119,845

46,634

Customer deposits

287,655

651,298

Accruals and deferred income

6,000

6,600

537,263

823,663

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

14,279

23,967

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

3,314

5,151

Deferred

tax

£

Balance at 1 January 2025

5,151

Provided during year

(1,837

)

Balance at 31 December 2025

3,314

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig Hunter (Senior Statutory Auditor)

for and on behalf of S&W Audit

10.	RELATED PARTY DISCLOSURES

At the balance sheet date £1,084,902 (2024 - £826,484) was owed by Unisphere Travel Inc. This amount is interest free and has no fixed repayment date.

During the year, payments of £3,030 (2024 - £3,030) were made by the company in relation to services provided by Direct Travel, the ultimate parent company. At the balance sheet date £427,623 (2024 - £635,207) was owed by Direct Travel. This amount is interest free and has no fixed repayment date.

11.	ULTIMATE CONTROLLING PARTY

The immediate controlling party is Unisphere Travel Limited Inc. a travel management company incorporated in the United States of America and located at 10 Cottage St Norwood, MA, 02062-2101, United States.

The ultimate controlling party is Direct Travel Inc. a travel management company incorporated in the United States of America and located at 7430 E. Caley Avenue, Suite 320E, Centennial CO 8112, United States.