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Registered number:
FOR THE YEAR ENDED 31 OCTOBER 2025
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VINTAGE TRAVEL LIMITED
COMPANY INFORMATION
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VINTAGE TRAVEL LIMITED
CONTENTS
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VINTAGE TRAVEL LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors present their strategic report for the year ended 31 October 2025.
The principal activity of the group remains the provision of villa holidays across Europe, primarily serving the UK leisure travel market.
The Group delivered a further year of growth, with Total Transactional Value (“TTV”) exceeding the prior year, reflecting continued demand for high-quality villa accommodation across its core destinations. The Group’s key destinations include mainland Spain, the Balearic Islands, France, the Greek Islands, Croatia, Italy, Portugal, and Turkey. The strategy remains focused on offering a curated portfolio of high-quality properties in established leisure markets. Financial Key Performance Indicators TTV for the year increased to £13,491,448 (2024: £12,408,173) with a profit before tax of £794,128 (2024: £1,300,432). The EBITDA was £519,762 for the year (2024: £905,995). Net assets decreased by 51% to £3.46m in the current year, from £7.17m in the prior year. While performance was slightly below internal forecasts, this was largely attributable to a shift in booking patterns, with sales during the traditionally strong January and February period proving less robust than anticipated. In addition, persistently high flight prices impacted customer booking behaviour in certain markets. Profit before tax for the year is set out in the accompanying financial statements. The Group continued to maintain strong cash reserves throughout the year and operated without reliance on external borrowing, providing financial stability and flexibility. Non-Financial Key Performance Indicator The Directors monitor performance using a range of key indicators, including the number of properties in the portfolio, weeks let per property, average customer spend, margin performance, and customer satisfaction, alongside effective management of staffing and supplier relationships. The holiday rental market remains competitive but resilient. The Company continues to benefit from a strong reputation for service quality and customer satisfaction. Market Position and Brand Strength During the year, the Group retained its Feefo Platinum Trusted Service Award, maintaining a 5-star rating, and achieved a 4.9 out of 5 rating on Trustpilot. The Company also received a number of industry accolades, including: • Best Villa Operator at The Telegraph Travel Awards (an award held continuously since 2019); • A Top 10 ranking in the Condé Nast Traveller Readers’ Choice Awards; and • Silver in the Best Villa category at the British Travel Awards. These recognitions support the Directors’ assessment of the Company’s strong market position Future Outlook The Directors remain cautiously optimistic about future prospects. The Group plans to continue expanding within existing destinations while selectively adding new locations to its portfolio. Ongoing investment in technology and
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VINTAGE TRAVEL LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
IT systems is expected to enhance operational efficiency and improve the experience of customers and business partners.
The Group will also continue to invest in its team to ensure it remains well positioned to support sustainable growth and maintain high service standards.
The Group's principal selling currency is GBP, while a significant porportion of costs are in Euros. As a result, the business is exposed to fluctuations in foreign exchange rates. The Directors monitor currency movements on an ongoing basis and take appropriate steps to mitigate exposure, where practicable.
The Directors also keep under review broader economic conditions, including consumer confidence and travel costs. The UK Government Budget announced in November 2025 is not expected to have a material adverse impact on customer demand for holidays.
We plan to continue developing the business in the coming years, investing in IT systems to enhance our competitive edge and improve stakeholder experiences. The company will also expand the number of properties offered and seek growth in both current and new destinations.
On 1 April 2025, the Company entered into a transaction to purchase 30,000 of its own ordinary shares from two retiring shareholders - Anthony Poole and Mavis Poole. These shares were subsequently cancelled on the same day.
On the same day, a bonus issue of 30,000 ordinary shares was made to the remaining director, Steve Eccles. This formed part of a planned succession strategy and was funded from existing reserves. Following the buyback, the remaining director, Steve Eccles, became the sole shareholder. This transaction supports the long-term continuity of the business and provides a stable foundation for future growth.
This report was approved by the board and signed on its behalf.
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VINTAGE TRAVEL LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The director presents his report and the financial statements for the year ended 31 October 2025.
The director is responsible for preparing the Group strategic report, the Director's report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £559,212 (2024 - £893,164).
The directors have recommended a dividend amounting £253,334 (2024: £554,875) for the financial year.
The director who served during the year was:
Where necessary, disclosures relating to future developments have been made in the Strategic Report and have not been repeated here in accordance with Section 414C of the Companies Act 2006.
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VINTAGE TRAVEL LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
There have been no significant events affecting the Company since the reporting date.
The auditors, Xeinadin Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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VINTAGE TRAVEL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VINTAGE TRAVEL LIMITED
We have audited the financial statements of Vintage Travel Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 October 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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VINTAGE TRAVEL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VINTAGE TRAVEL LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Director's report.
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VINTAGE TRAVEL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VINTAGE TRAVEL LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: • Enquiry of management and those charged with governance around actual and potential litigation and claims; • Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. • Enquiry of management and those charged with governance to identify any instances of non-compliance with laws and regulations. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the Group is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the Group is subject to many other laws and regulations where the consequence of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance the imposition of fines or litigation or the loss of the Company's license to operate. We identified the following areas as those most likely to have such an effect: ATOL, ABTA, ABTOT compliance recognising the nature of the Company's activities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us, or evident from relevant correspondence, an audit will not detect that breach.
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VINTAGE TRAVEL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VINTAGE TRAVEL LIMITED (CONTINUED)
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to the fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
8th Floor
Becket House
36 Old Jewry
EC2R 8DD
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VINTAGE TRAVEL LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2025
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VINTAGE TRAVEL LIMITED
REGISTERED NUMBER: 04279813
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 15 to 33 form part of these financial statements.
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VINTAGE TRAVEL LIMITED
REGISTERED NUMBER: 04279813
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 15 to 33 form part of these financial statements.
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