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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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WENDY WU TOURS LIMITED
COMPANY INFORMATION
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WENDY WU TOURS LIMITED
CONTENTS
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WENDY WU TOURS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Introduction
The Directors present their strategic report for the year ended 31 December 2025. Section 172 (1) Statement The information provided below is intended to explain how the directors considered the interests of the Company’s key stakeholders and the broader matters set out in section 172 (1) (a) to (f) of the Companies Act 2006 when performing their duty to promote the success of the Company under section 172 of the Companies Act 2006. Trading Performance and Strategic Improvements The Directors consider that they have acted in a way that is most likely to promote the success of the Company for the benefit of its members as a whole, having regard to the matters set out in section 172(1) of the Companies Act 2006. The Company delivered a strong financial performance in 2025, building on the record-breaking results achieved in 2024. Turnover increased by 32%, reflecting continued growth in passenger volumes and sustained demand across the Company’s core destinations. Gross profit increased by 27%, supported by disciplined pricing and cost management. Operating profit rose by 38%, demonstrating the Company’s ability to scale efficiently whilst maintaining control over its cost base. A key highlight of the year has been the continued strength and momentum in China, which has re-established itself as a leading destination and, alongside Japan, is once again one of the Company’s top-performing markets. Performance in China has exceeded expectations, driven by strong customer demand and the successful reintroduction and expansion of the Company’s product offering. Japan continues to perform exceptionally well and remains a core destination within the portfolio. The combined strength of Japan and China has been a significant driver of overall growth, underpinning both revenue performance and operational leverage across the business. The Company has also continued to develop its distribution channels during the year, supporting growth across both direct and trade sales. Expansion in the Ireland market has been particularly strong, providing an additional source of growth and enhancing the diversification of the Company’s revenue base. This reflects a continued focus on broadening market reach and strengthening performance across multiple channels. The CEO’s strategic focus during the year has been on driving sustainable growth, maintaining margin discipline, and enhancing customer retention. This has been supported by continued investment in product development, including the introduction of new itineraries and destinations to further diversify the offering and capture evolving customer demand. Management has continued to exercise strict control over discretionary expenditure and overheads, ensuring that cost growth remains aligned with revenue performance. This disciplined approach has supported profitability while maintaining high service standards and customer experience. Key performance indicators and operational monitoring The Company continues to monitor key performance indicators (KPIs) related to sales and gross profit. Weekly trading meetings are held to analyse booking intake, conversions, passenger volumes, and trading profit margins, ensuring the business remains agile and responsive to market conditions.
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WENDY WU TOURS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Travel regulatory bodies
The Company holds an ATOL granted by the CAA which falls due for renewal in September 2026. Principal risks and uncertainties The risk factors described below are those which the directors believe are potentially significant but should not be regarded as a complete and comprehensive statement of all potential risks and uncertainties facing the Company. Health and Safety: The Company continues to prioritise the health and safety of its employees, customers, and partners as a fundamental part of its operations. Internal protocols remain in place to manage risks associated with travel, including regular staff training and established emergency response plans. These measures are reviewed periodically to ensure they remain appropriate in a changing global environment. The Company works closely with suppliers, local authorities, and industry bodies to ensure high standards are maintained across all destinations. This proactive approach supports safe operations and customer confidence. Geo-political events and natural disasters: The Company operates in a global and dynamic environment that is inherently exposed to geo-political risks and natural events, including political instability, conflict, and extreme weather conditions. These may impact travel routes, destination accessibility, and customer confidence. To mitigate these risks, the Company maintains a flexible operating model, enabling rapid adjustments to itineraries and operations where required. Risk assessments and contingency planning are regularly updated to support business continuity and customer safety. Regulatory risk: The Company is exposed to various regulators, including the Civil Aviation Authority ("CAA"), which issues an Air Travel Organisers Licence ("ATOL"), which is required in order for the Company to operate. This licence is renewed in September each year and is subject to assessments of fitness and financial criteria, the framework of which is available on the CAA website (www.caa.co.uk). Management closely monitors changes in regulation and industry standards to ensure ongoing compliance. Commercial relationships and risk management: The Company maintains strong and well-established relationships with customers and suppliers, reducing dependency on any single provider. The management team regularly engages with key suppliers and monitors performance and financial stability, ensuring a resilient and reliable supply chain. Market trends and customer behaviour are also closely monitored to maintain a competitive product offering.
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WENDY WU TOURS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Information technology:
The Company remains heavily reliant on information technology systems, particularly its booking platforms, which are critical to daily operations. Controls and procedures are in place to minimise disruption in the event of system failure. The Company continues to invest in system resilience, cyber security, and infrastructure to support business continuity and enhance customer experience. Commercial risks: The Company's trading performance can be affected by environmental factors, which include: - acts of terrorism, particularly in key tourist destinations. - natural disasters in key tourist destinations. - weather conditions, both in the UK and in key tourist destinations. - health epidemics in key tourist destinations and global pandemics. - increase in government taxes in both UK and overseas. - wars or other international incidents which affect air or sea travel.
The key performance indicators used by the directors to monitor the progress of the Company are set out below:
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WENDY WU TOURS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors consider that they have acted in a way that is most likely to promote the success of the Company for the benefit of its members as a whole, having regard to the matters set out in section 172(1) of the Companies Act 2006.
In fulfilling their duties, the Directors have given due consideration to the long-term consequences of decisions, ensuring that the Company remains well positioned for sustainable growth while maintaining appropriate levels of financial discipline and operational resilience. During the year, particular focus has been placed on strengthening core markets, including the continued growth and performance of China and Japan, alongside the development of new products and destinations. The Directors recognise the importance of employees and are committed to maintaining a supportive and high-performing working environment. Employee engagement, development, and wellbeing are considered in decision-making. Strong relationships with customers and suppliers remain central to the Company’s success. The Directors engage regularly with stakeholders to maintain service quality and operational resilience. The Directors also consider environmental impacts, including compliance with SECR requirements and ongoing monitoring of the Company’s carbon footprint. Environmental considerations are increasingly incorporated into business decisions. Through regular Board meetings, trading reviews, and risk assessments, the Directors ensure stakeholder considerations are embedded within decision-making, supporting the long-term success of the Company.
This report was approved by the board on 10 June 2026 and signed on its behalf.
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WENDY WU TOURS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company'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 Company will continue in business.
The directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company 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 £7,506,192 (2024 - £5,819,588).
No dividends were paid or proposed for the year ended 31 December 2025.
The directors who served during the year were:
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WENDY WU TOURS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Total greenhouse gas emissions for the reporting period were 149.22 tCO2e, covering UK operations only. Emissions are primarily driven by business travel, particularly air travel, which represents the most significant proportion of the Company’s carbon footprint.
The reported emissions relate to the Company’s UK operations and include business travel undertaken by employees; emissions associated with customer travel are not included within the reporting boundary.
The Company’s total energy consumption for the year was 502.68 MWh, the majority of which relates to travel and transport activity. Emissions have been calculated in accordance with the Greenhouse Gas Protocol, using UK Government greenhouse gas conversion factors.
No material energy efficiency initiatives were implemented during the reporting period. The Company operates from an energy-efficient office environment utilising LED lighting and electrically powered systems and will continue to assess opportunities to improve efficiency over time.
2.82 tCO22e per £1m turnover
2.37 tCO2e per employee
The auditors, White Hart Associates (London) Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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WENDY WU TOURS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WENDY WU TOURS LIMITED
We have audited the financial statements of Wendy Wu Tours Limited (the 'Company') for the year ended 31 December 2025, which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Analysis of Net Debt, the Statement of Financial Position, the Statement of Cash Flows, the 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 directors' 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 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 directors with respect to going concern are described in the relevant sections of this report.
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WENDY WU TOURS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WENDY WU TOURS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are 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 Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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WENDY WU TOURS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WENDY WU TOURS 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 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:
- We exercise professional judgement and maintain professional scepticism throughout the audit;
- We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the deliberate override of internal control; - We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control; - We evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made; - We assess the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business; - We review the scope of the Company's compliance with its regulator, the Civil Aviation Authority ("CAA"), its membership of The Association of British Travel Agents ("ABTA") and its accreditation with the International Air Transport Association ("IATA") and sample test relevant documentation to assess this and the effectiveness of its control environment; - We review the Company's relationships with related parties and other group companies, identifying and disclosing transactions during the year and balances at year-end with such parties; - We conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the entity to cease to continue as a going concern.
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.
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WENDY WU TOURS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WENDY WU TOURS LIMITED (CONTINUED)
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 and Statutory Auditors
2nd Floor, Nucleus House
2 Lower Mortlake Road
TW9 2JA
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WENDY WU TOURS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
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WENDY WU TOURS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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WENDY WU TOURS LIMITED
REGISTERED NUMBER: 05107061
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 19 to 36 form part of these financial statements.
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WENDY WU TOURS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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WENDY WU TOURS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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WENDY WU TOURS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
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WENDY WU TOURS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
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WENDY WU TOURS LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2025
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Wendy Wu Tours Limited is a private company limited by shares and incorporated in England under registered number 05107061. Its registered office is at 151f Tower Bridge Road, London SE1 3JE.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
Due to the consumer unease in relation to the current economic environment and, increasing energy costs, Company management and the directors have continued to review the Company’s financial position. This is to ensure a swift response to any changes in planned trading performance.
The directors have prepared projections for the period to September 2027. These reflect a very strong bookings growth and profitability.This is supported by the strong performance seen so far in the first half of 2026, which has seen a significant upside in demand. The Company has been well placed to meet and service the additional volume. Given the Company's substantial cash reserves the directors are confident that the Company will have sufficient funds and cash reserves to continue to meet liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis. Turnover is recognised on the date of departure.
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Company's Statement of Financial Position 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
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 profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
impairment reversal is recognised in the profit or loss.
Basic financial liabilities
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
a) Critical judgements in applying the Company's accounting policies The directors believe that there are no critical judgements involved in applying the Company's accounting policies that warrant disclosure. b) Key accounting estimates and assumptions The directors believe that there are no key accounting estimates and assumptions involved in applying the Company's accounting policies that warrant disclosure.
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 26
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 27
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 28
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
11.Taxation (continued)
There were no factors that may affect future tax charges.
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 30
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 31
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 32
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
18.Deferred taxation (continued)
Foreign exchange reserve
Profit and loss account
At 31 December 2025, there were contingent liabilities outstanding in respect of counter indemnities given by the Company, in the normal course of business, to the Company's bond insurance obligors in respect of ABTA travel bonds amounting to £583,802 (2024 - £368,000),
Included in the cash at bank as at 31 December 2025 was £1,138,661 of restricted cash (2024 -£899,339) provided as security to the Company's merchant providers, ABTA bond and other facilities.
Unrestricted Cash - £25,526,097 Restricted Cash - £1,138,661 Total Cash - £26,664,728
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension charge represents contributions payable by the Company to the fund and amounted to £144,566 (2024 - £105,761).
Outstanding contributions amounted to £151,965 (2024 - £62,564) at the year end.
There was an amount owed to Mrs Y Wu at the balance sheet date of £47,707 (2024 - £1,048,854) shown as creditors due within one year (See note 18).The loan including interest accrued to date in the amount of £1,021,730 was repaid during the year.
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
As at 31st December 2025 the Company had £291,968 (2024 - £224,568) due to International Air Transport Association (IATA) for tickets issued in the month of December 2025.
There is a debenture in favour of HSBC Bank Plc created on 3 June 2005. There is a further fixed charge over a cash deposit of £583,802 in respect of ABTA travel bonds and other facilities ( See Note 22).
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WENDY WU TOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The ultimate controlling party is Mrs Y Wu , a director of the Company, by virtue of her 100% ownership of
the issued share capital of the Company.
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