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Registered number:
(A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 OCTOBER 2025
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
COMPANY INFORMATION
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
CONTENTS
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The Directors present their strategic report for the year ended 31 October 2025.
The Company is required by the Companies Act to set out in this report, a fair review of the business of the Company during the financial year ended 31 October 2025, and its position at the end of the year along with a description of the principal risks and uncertainties facing the Company. This review is prepared solely to provide additional information to shareholders to assess the Company's strategies and the potential for those strategies to succeed, and the business review should not be relied upon by any other party or for any other purpose.
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The results for the year and financial position of the Group are as shown in the annexed financial statements. We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and nature of our business and is written in the context of the risks and uncertainties we face.
During the year, we continued to provide guided walking holidays for small groups to the UK, Europe and to worldwide destinations, capitalising on our proven record of success in this area and developing a range of new destinations for our clients. We also operate a country house hotel called Hassness House at Buttermere in the Lake District and have an investment portfolio consisting of properties and listed stocks. The Group continues to be profitable from the investment portfolio and rental premises and the stand-alone Tour Operator closed at almost break even following several years of loss making. This financial year saw the first full year with our new Managing Director and two new Senior Leadership roles which has brought new drive and direction to the business and the Group’s future projections are looking more positive. The Product & Commercial team continue to monitor individual and regional tour performance alongside the Senior Management team who continue to monitor budgets set in all other areas of the business to ensure activity is aligned with tour performance. There was a planned increase in Marketing spend as well as further investment in the staff as well as IT infrastructure and improvements to owned premises. Tour Operation The financial year ended 31 October 2025 turnover of £15.7m was higher than the prior year of £14.7m (as adjusted). With passenger numbers broadly in line with prior year, this increase in revenue is attributed to customers choosing our long haul and Adagio products which have a higher average selling price than short haul or UK products. Our product team continue to review our product mix and we have launched several new tours as well as completely new departures this year. These new products, with increased marketing focus, continue to help broaden our market awareness and entice both existing and new customers to travel with us. Our operational team continue to focus on creating excellent client care and a positive client experience overall. The Gross Profit margin of 25.5% is a small reduction compared to the prior year of 26.0% partly due to tour activity and product mix but also due to an increased cost in the Loyalty Point scheme we operate which added costs into the Cost of Sales figure in 2025 thus reducing the Gross Profit Margin. This financial year saw a small increase in overhead expenditure, predominantly due to our Employment and Marketing costs. There was a planned increase in staff numbers as well as recruitment into new roles, and a planned increase in Marketing spend due to a change in focus of marketing strategy to attract new customers. During the year we continued to develop our IT infrastructure and automation between systems, as well as improvements made to the properties we own. Cashflow is monitored weekly and remains healthy. Supplier payments continue to be made promptly for both direct cost of sale suppliers and overhead contract suppliers.
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
Business review (continued)
Investment portfolio The investment portfolio has experienced another large gain this year to £6.9m from £5.8m at 2024 year end due to favourable market conditions. The company’s portfolio is aimed at good ESG companies avoiding mining, oil and gas in order to remain ethically green to do our bit to help save the planet. Investment properties All three of the Mill Race units continued to be fully occupied for the whole financial year. These units were revalued at the year end which resulted in a small uplift in value. Looking ahead The travel market has performed well during the year and forward bookings are strong for the new year ahead. The Company has remained competitively priced and with an increase in holidays and diversification of products on sale, these additional new tours in existing destinations and completely new departures launched in 2026 which will excite our existing and new customers. The Group continues to react to the changing client demands in terms of destination, grading and duration of the product mix. The Executive closely monitor and ensure compliance over our key regulations, for example; the changing European TOMS VAT landscape, ATOL and ABTA requirements. The regulatory bodies review the financial statements and business activity with scrutiny and the Board is confident that the Group is meeting all necessary requirements. The key performance indicators used by the Directors to monitor the progress of the Company are set out below, being those that communicate the financial performance and strength of the Company, these being turnover, gross margin, overall profitability and cashflows:
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The following risk factors may affect the Group's operating results and its financial position. 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 risk and uncertainties facing the Group.
Economic conditions The demand for holidays is affected by local economic conditions. The current levels of consumer confidence, increased taxation and lower net disposable incomes will undoubtedly impact the holiday market as a whole, both as an absolute decision as to where to travel and also the lead time for booking. We believe we continue to offer good value exciting holidays which satisfy our clients desire to travel, which we believe will provide us with more stability in potentially volatile market conditions. There are external factors over which we have little control such as the recent pandemic, and the ongoing conflicts in Ukraine and the Middle East, which impact global prices and the affordability and ability to travel, but we believe our recent experience of reacting to these issues leaves us in a strong position. Market Risk The Group is exposed to movement in valuation of tradeable investments held in the company’s investment portfolio. Regulatory risk The Group 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 Group to operate. This licence is renewed in March each year and is subject to assessments of fitness and financial criteria, the framework of which is available on the CAA's website (www.caa.co.uk). Competition risk The Group operates in a highly competitive market featuring innovation in the travel products and the methods by which it is marketed as well as price increases. The Marketing efforts are focused on increasing awareness of the brand Ramble Worldwide and the Product team have increased our selection of products. Both activities we believe will increase our market share. The Group monitors competition closely. Foreign exchange rate exposure The Group faces transactional exposure primarily relating to the cost of contracting accommodation for tours both in Europe and worldwide, which is required many months in advance of the tour occurring. To manage this risk, a policy of forward buying foreign currencies at a percentage of future forecast requirements has been used. Supplier failure risk The Group has well established and close relationships with customers and suppliers and risk is spread by not placing over-reliance on any one supplier in any particular area. However, if a relationship were lost or damaged with a major supplier this could have a detrimental effect on the business. The management team meets regularly with suppliers to maintain good working relationships and to understand the supplier's financial position. Technology risk The Group is heavily reliant on the uninterrupted operation of its IT systems. These systems are vulnerable to power loss, fire, computer viruses and other events. Loss of these systems would impair the ability of the Group to carry on its business effectively. The Group has made arrangements to mitigate this risk including having multiple leased lines into its main office, moving to hosted solutions for its key systems and having employees working across multiple locations. Additionally, the Group has in place cyber security measures such as firewalls subject to periodic penetration testing, data security policies and cyber security training for all employees.
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
Principal risks and uncertainties (continued)
Climate change risk The Group is looking to diversify its portfolio of tours to further protect the climate where possible. This may include travelling to popular destinations in the shoulder seasons to avoid over-crowding in the busy seasons, as well as offering holidays by train travel to reduce our carbon emissions from air travel. Commercial risk The nature of the business exposes the Group to various commercial risks which may affect the trading performance of the Group. These include: - acts of terrorism, particularly in key tourist destinations - epidemics in key tourist destinations which threaten the health of tourists - wars or other international uncertainty which affects air travel - natural disasters in key tourist destinations - changes in customer behaviour and preferences - increases in government taxes
This report was approved by the board on 19 March 2026 and signed on its behalf.
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors present their report and the financial statements for the year ended 31 October 2025.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The principal activity of the Group continued to be that of a tour operator specialising in guided walking tour holidays.
The profit for the year, after taxation, amounted to £894,730 (2024 - £627,082).
The directors who served during the year were:
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors have disclosed, in line with the Companies Act 2006, additional performance data for the Group in the strategic report which is included within this set of financial statements. This includes a review of the performance of the business and the key performance indicators, as well as the main risks faced by the business.
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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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RAMBLERS HOLIDAYS GROUP LIMITED
We have audited the financial statements of Ramblers Holidays Group Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 October 2025, which comprise the Consolidated Income Statement, the Consolidated Statement of Comprehensive Income, the , 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 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 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 directors with respect to going concern are described in the relevant sections of this report.
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RAMBLERS HOLIDAYS GROUP 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 Group 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 Group 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 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 Directors' Report.
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RAMBLERS HOLIDAYS GROUP LIMITED (CONTINUED)
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RAMBLERS HOLIDAYS GROUP 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:
- We exercise professional judgment and maintain professional skepticism 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 Group's compliance with The Package and Linked Travel Arrangements Regulations 2018 (“PTRs”) and sample test relevant documentation to assess this and the effectiveness of its control environment; - We request and review the minutes of management meetings, and assess any matters identified not already provided for or disclosed that may materially impact the financial statements; - We review the Group's relationships with related parties, identifying and disclosing transactions during the year and balances at year-end with such parties.
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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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RAMBLERS HOLIDAYS GROUP 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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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2025
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2025
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER: 07690156
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 on 19 March 2026.
The notes on pages 22 to 46 form part of these financial statements.
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER: 07690156
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 on
The notes on pages 22 to 46 form part of these financial statements.
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2025
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 OCTOBER 2025
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
As disclosed in the Directors' Report, the principal activity of the Company in the year under review was that of a holding company of a trading group. The principal activity of the Group continued to be that of a tour operator specialising in guided walking tour holidays.
The Company is a private company limited by guarantee and is incorporated in England. The address of the Group's principal place of business and registered office is Lemsford Mill, Lemsford Village, Welwyn Garden City, Hertfordshire, AL8 7TR.
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 Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income Statement in these financial statements.
The parent company, Ramblers Holidays Group Limited, is included in the consolidated financial statements, and is considered to be a qualifying entity under FRS102 paragraphs 1.8 to 1.12. The following exemptions available under FRS102 in respect of certain disclosures for the parent company financial statements have been applied:
• The reconciliation of the number of shares from the beginning to the end of the period has not been included a second time; • No separate parent company Cash Flow Statement with related notes is included; • Key Management Personnel compensation.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Income Statement from the date on which control is obtained. They are deconsolidated from the date control ceases.
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
The Board and management meet regularly during the year and continue to review the Group’s financial position, budgets and forecasts in order to neutralise the potential financial impact from any significant downturn in trading.
As a result of these reviews and projections, the Board and management have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future, being at least the following 12 months from the signing of these financial statements. This is supported by the strong balance sheet with a healthy mix of fixed assets and net current assets, the recent trading performance and the current bookings already taken for 2026. The Company is well placed to meet and service the additional volume. Consequently, the directors believe that it is still appropriate to apply the going concern basis for the foreseeable future.
Functional and presentation currency
Transactions and balances
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Group and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. All turnover relating to tours with departure dates after the financial year end are treated as advanced receipts as at the Statement of Financial Position date and are separately disclosed under other creditors. Payments made to suppliers in respect of future departures are treated as advanced payments and are separately disclosed under other debtors.
The cost of loyalty points are treated as deferred income, with deferred turnover equal to the estimated fair value of the points issued, recognised when the original transaction occurs. On redemption, the cost of the redemption is offset against the deferred income balance.
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 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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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 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.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Page 27
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Group's Statement of Financial Position when the Group 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 Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
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 Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies 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.
Page 28
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
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 Group 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 Group 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 Group's contractual obligations expire or are discharged or cancelled.
Page 29
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
a) Critical judgments in applying the Company’s accounting policies Customer loyalty scheme The Group operates a loyalty programme based on a points scheme, which results in deferred income being recognised. In accordance with FRS 102, the standalone selling price attributed to the awarded loyalty points is deferred as a liability and recognised as settled on redemption of the points and provision of services to the participants to whom the points were issued. The standalone selling price of the loyalty points is based on the value of the awards for which the points could be redeemed. The Group also recognises revenue associated with the proportion of award credits which are not expected to be redeemed, based on the results of statistical modelling. The balance of deferred revenue arising from the customer loyalty scheme at 31 October 2025 is £411,366 (2024: £392,738). The directors believe that there are no other critical judgments involved in applying the Company's accounting policies that warrant disclosure. b) Key accounting estimates and assumptions The Company has historically run a Leaders Conference every 4 years, which allows the leaders and management to share ideas, business knowledge and best practices, whilst also allowing for updating and improving training and safety procedures, customer experiences, leader processes and more. To ensure the costs of this conference are spread evenly across the intervening accounting periods, a provision is made at the end of each financial year, and reversed in the year of the conference taking place. The next conference will be combined with an 80th anniversary event to be held in 2026 and a total cost provision of £65,000 is included in accruals and deferred income within creditors (note 19) at 31 October 2025. The directors believe that there are no other key accounting estimates and assumptions involved in applying the Company's accounting policies that warrant disclosure.
Page 30
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Analysis of turnover by country of destination:
Page 31
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 32
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 33
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
At the year end, the Group has unrelieved tax losses of £5,707,028 and capital losses of £180,842 to use against future profits and capital gains.
Page 34
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income Statement in these financial statements. The profit after tax of the parent Company for the year was £Nil (2024 - £NIL).
Page 35
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 36
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
14.Tangible fixed assets (continued)
Cost or valuation at 31 October 2025 is as follows:
Page 37
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
14.Tangible fixed assets (continued)
Page 38
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 39
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
The 2025 valuations were made by Brown & Lee Chartered Surveyors on 31 October 2025, on an open market value basis.
The 2025 valuations were made by Brown & Lee Chartered Surveyors on 31 October 2025, on an open market value basis.
Page 40
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 41
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|
RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 42
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 43
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|
RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 44
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Revaluation reserve
Profit and loss account
The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the Company in the event of liquidation.
The Group currently holds an Air Travel Organisers' License ('ATOL') issued by the Civil Aviation Authority ('CAA'), is a member of the Association of British Travel Agents Limited ('ABTA') and is an accredited agent of the International Air Transport Association ('IATA').
The comparative figures for the year ended 31 October 2024 include an adjustment for £118,385 in respect of the understatement of the cost of loyalty points utilised by customers in the year. The corresponding adjustment to the balance sheet at 31 October 2024 is an increase in debtors of £62,332 and an increase in creditors due within one year of £180,717. Retained profits at 31 October 2024 have also reduced by £118,385.
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £83,970 (2024: £129,671). Contributions totalling £12,714 (2024: £14,931) were payable to the fund at the reporting date and are included in creditors.
Page 45
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RAMBLERS HOLIDAYS GROUP LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
The Company is limited by guarantee and in the opinion of the directors, there is no single ultimate controlling party.
Page 46
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