Company registration number 07624349 (England and Wales)
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
COMPANY INFORMATION
Directors
D Wong
M Schneider
Company number
07624349
Registered office
2 Leman Street
London
United Kingdom
E1W 9US
Auditor
Gravita Audit II Limited
Aldgate Tower
2 Leman Street
London
United Kingdom
E1 8FA
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
CONTENTS
Page
Strategic report
1
Directors' report
2
Independent auditor's report
3 - 5
Statement of comprehensive income
6
Statement of financial position
7
Statement of changes in equity
8
Notes to the financial statements
9 - 18
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Fair review of the business

The company changed its legal name to Adventure360 Ltd on 10 February 2026 as a precursor to a full rebrand in Summer 2026.

The company maintained its position as a leader in the youth adventure travel sector and will be looking to further expand into a more general marketplace rather than being known solely as an authority on the traditional “Gap Year”. Intrax will provide the necessary support and investment to seek further growth from sales in both the UK and other countries.

The level of business and the year-end financial statements were satisfactory. The directors will continue to review both existing and new activities with a view to increasing turnover and profitability.

Principal risks and uncertainties

Foreign currency risk is limited to some overseas programme operators where we pay in local currency. Our potential exposure in this area is being managed very carefully and we buy forward contracts on AUD to limit this risk. Any trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Competitive pressures could result in loss of sales and customers; a new emerging risk is that AI generated algorithms from online marketing platforms have shown capabilities to disrupt strategies and reach – although this is also an opportunity. Adventure360 Ltd manages these risks by providing high quality customer service and support throughout the sales & booking process, along with a consistent level of trip experience, resulting in a high percentage of 5* reviews to further build on our excellent reputation; and employs experienced digital marketers to identify and respond quickly to deliver success of online spend.

Global economic uncertainty is a general risk, with the recent unrest in the Middle East contributing to a short-term decline in long-haul bookings during the early part of 2026 while passengers re-routed flight plans via other hubs. Adventure360 Ltd provides trips to a worldwide range of destinations, which also gives a level of protection against issues in any one particular area.

Continued rising costs both from within the UK and externally are something to watch. Travel is still an important priority to consumers.

Key performance indicators

Key performance indicators are outlined below:

| 12 months to December 2025 | 9 months to December 2024
Turnover | £11,499k | £7,749k
Gross Profit | £3,271k | £1,990k
EBITDA (adj) | £634k | £137k

On behalf of the board

D Wong
Director
15 July 2026
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company is that of providing gap year, volunteer and career break opportunities.

Results and dividends

The results for the year are set out on page 6.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

D Wong
M Schneider
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- 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 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.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
D Wong
Director
15 July 2026
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ADVENTURE360 LTD
- 3 -
Opinion

We have audited the financial statements of Adventure360 Ltd (the 'company') for the year ended 31 December 2025 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including 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 our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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. However, because not all future events or conditions can be predicted this statement is not a guarantee as to the company's ability to continue as a going concern.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport 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.

ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ADVENTURE360 LTD (CONTINUED)
- 4 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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 auditor's 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. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006.

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal expenses; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- understanding the business model as part of the control and business environment;

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ADVENTURE360 LTD (CONTINUED)
- 5 -

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- enquiring with the company of actual and potential non-compliance with laws and regulations.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our 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 auditor's 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.

Mark Brown FCA (Senior Statutory Auditor)
For and on behalf of Gravita Audit II Limited, Statutory Auditor
Chartered Accountants
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
20 July 2026
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
Year
Period
ended
ended
31 December
31 December
2025
2024
Notes
£
£
Turnover
2
11,499,048
7,749,267
Cost of sales
(8,227,775)
(5,759,775)
Gross profit
3,271,273
1,989,492
Administrative expenses
(2,637,657)
(1,963,282)
Operating profit
3
633,616
26,210
Interest receivable and similar income
7
47,134
90,087
Profit before taxation
680,750
116,297
Tax on profit
8
-
0
229,831
Profit for the financial year
680,750
346,128
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2025
31 December 2025
- 7 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
10
20,825
62,475
Other intangible assets
10
422,620
298,143
Total intangible assets
443,445
360,618
Tangible assets
11
8,806
5,722
452,251
366,340
Current assets
Debtors
12
3,002,076
2,827,684
Cash at bank and in hand
3,195,295
2,769,700
6,197,371
5,597,384
Creditors: amounts falling due within one year
13
(6,614,745)
(6,609,597)
Net current liabilities
(417,374)
(1,012,213)
Net assets/(liabilities)
34,877
(645,873)
Capital and reserves
Called up share capital
15
30,000
30,000
Profit and loss reserves
4,877
(675,873)
Total equity
34,877
(645,873)

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 15 July 2026 and are signed on its behalf by:
D Wong
Director
Company registration number 07624349 (England and Wales)
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2024
30,000
1,100,898
1,130,898
Period ended 31 December 2024:
Profit and total comprehensive income
-
346,128
346,128
Dividends
9
-
(2,122,899)
(2,122,899)
Balance at 31 December 2024
30,000
(675,873)
(645,873)
Year ended 31 December 2025:
Profit and total comprehensive income
-
680,750
680,750
Balance at 31 December 2025
30,000
4,877
34,877
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
1
Accounting policies
Company information

Adventure360 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2 Leman Street, London, United Kingdom, E1W 9US.

The Company's principal place of business is 2nd Floor, 121-123 Mount Pleasant, Tunbridge Wells, Kent, TN1 1QR.

1.1
Reporting period

For commercial reasons, the previous reporting period to 31 December 2024 represented 9 months trading results of the company. The current period of account reflects the 12-month period to 31 December 2025. The comparative period is therefore not a comparable period of account.

1.2
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Intrax UK Group Limited, a company registered in the United Kingdom. These consolidated financial statements are available from its registered office, 2 Leman Street, London, United Kingdom, E1W 9US.

1.3
Going concern

At the balance sheet date, the company has net current liabilities of £417,374 (2024: £1,012,213) and net assets of £34,877 (2024: liabilities of £645,873). For the year to 31 December 2025, the company made profits of £680,750 (2024: £346,128). The company's ultimate parent entity has committed to providing support to the company as required for a period of at least 12 months from the approval of the financial statements, and has signed a letter of support to confirm this.true

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

ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 10 -
1.4
Revenue

Turnover represents amounts receivable for services net of VAT. The company recognises revenue in respect of customer bookings on the date of departure.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of business acquisition over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.6
Intangible fixed assets other than goodwill

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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

Development Costs
5 years straight line
1.7
Tangible fixed assets

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

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

Fixtures, fittings & equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 11 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Financial instruments

The company 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 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.15
Foreign exchange

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date or the settled rate if known. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

2
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Provision of gap year, volunteer and career break opportunities
11,499,048
7,749,267
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
11,499,048
7,749,267
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Turnover and other revenue
(Continued)
- 14 -
2025
2024
£
£
Other revenue
Interest income
47,134
90,087
3
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Exchange (gains)/losses
-
0
44,859
Research and development costs
-
28,400
Depreciation of tangible fixed assets
5,050
1,422
Amortisation of intangible assets
152,936
108,940
Operating lease charges
35,000
26,250
4
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
19,000
-
0
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
34
32

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,046,531
844,073
Social security costs
161,816
100,031
Pension costs
39,962
17,716
1,248,309
961,820
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
-
0
84,622

In addition to the above, directors' remuneration of £nil (2024: £32,572) was capitalised as development costs in the period.

7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
47,134
90,087
8
Taxation
2025
2024
£
£
Current tax
Adjustments in respect of prior periods
-
0
(229,831)

The actual charge/(credit) for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
680,750
116,297
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
170,188
29,074
Tax effect of expenses that are not deductible in determining taxable profit
14,063
10,356
Group relief
(181,662)
-
0
Permanent capital allowances in excess of depreciation
(2,589)
(1,152)
Income adjustment in respect of change in accounting policy
-
0
(268,109)
Taxation charge/(credit) for the year
-
(229,831)
9
Dividends
2025
2024
£
£
Final paid
-
0
2,122,899
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
9
Dividends
(Continued)
- 16 -

In October 2024, the company paid a dividend and, based on its management accounts, at the time of the declaring the dividend, had sufficient distributable reserves. As at the year end, there was a deficit in distributable reserves of £645,873 due to the impact of changing the revenue recognition policy. The Directors have confirmed that no further dividends will be paid until the company has the necessary distributable reserves to do so.

10
Intangible fixed assets
Goodwill
Development Costs
Total
£
£
£
Cost
At 1 January 2025
416,500
982,754
1,399,254
Additions
-
0
235,763
235,763
Disposals
-
0
(128,389)
(128,389)
At 31 December 2025
416,500
1,090,128
1,506,628
Amortisation and impairment
At 1 January 2025
354,025
684,611
1,038,636
Amortisation charged for the year
41,650
111,286
152,936
Disposals
-
0
(128,389)
(128,389)
At 31 December 2025
395,675
667,508
1,063,183
Carrying amount
At 31 December 2025
20,825
422,620
443,445
At 31 December 2024
62,475
298,143
360,618
11
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 January 2025
16,282
Additions
8,134
Disposals
(100)
At 31 December 2025
24,316
Depreciation and impairment
At 1 January 2025
10,560
Depreciation charged in the year
5,050
Eliminated in respect of disposals
(100)
At 31 December 2025
15,510
ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
11
Tangible fixed assets
Fixtures, fittings & equipment
£
(Continued)
- 17 -
Carrying amount
At 31 December 2025
8,806
At 31 December 2024
5,722
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,442,686
2,169,611
Corporation tax recoverable
204,155
336,911
Other debtors
45,980
33,403
Prepayments and accrued income
309,255
287,759
3,002,076
2,827,684
13
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
226,933
271,871
Taxation and social security
-
0
37,898
Other creditors
39,632
24,551
Accruals and deferred income
6,348,180
6,275,277
6,614,745
6,609,597
14
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
39,962
17,716

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

ADVENTURE360 LTD
(FORMERLY GAP 360 LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
15
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
13,800
13,800
13,800
13,800
Ordinary B of £1 each
1,500
1,500
1,500
1,500
Ordinary C of £1 each
7,350
7,350
7,350
7,350
Ordinary D of £1 each
7,350
7,350
7,350
7,350
30,000
30,000
30,000
30,000

All shares are ordinary shares and rank pari passu.

16
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
35,000
35,000
Years 2-5
140,000
140,000
After 5 years
33,658
68,658
208,658
243,658
17
Related party transactions

The Company has taken advantage of the exemption available in FRS102 Section 33 'Related Party disclosures' whereby it has not disclosed transactions with any wholly owned group entities.

18
Ultimate controlling party

The parent company of the company is Intrax UK Group Limited, a company registered in the United Kingdom.

Intrax UK Group Limited is controlled by the ultimate controlling company, One Intrax, Inc, a company registered in the United States of America.

The company's financial statements are included in the Consolidated financial statements of Intrax UK Group Limited, a company registered in the United Kingdom.

2025-12-31 2025-01-01 false false false CCH Software CCH Accounts Production 2025.300 D Wong M Schneider 07624349 2025-01-01 2025-12-31 07624349 bus:Director1 2025-01-01 2025-12-31 07624349 bus:Director2 2025-01-01 2025-12-31 07624349 bus:RegisteredOffice 2025-01-01 2025-12-31 07624349 2025-12-31 07624349 2024-04-01 2024-12-31 07624349 core:RetainedEarningsAccumulatedLosses 2024-04-01 2024-12-31 07624349 core:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 07624349 core:Goodwill 2025-12-31 07624349 core:Goodwill 2024-12-31 07624349 core:IntangibleAssetsOtherThanGoodwill 2025-12-31 07624349 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 07624349 2024-12-31 07624349 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-12-31 07624349 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 07624349 core:FurnitureFittings 2025-12-31 07624349 core:FurnitureFittings 2024-12-31 07624349 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 07624349 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 07624349 core:ShareCapital 2025-12-31 07624349 core:ShareCapital 2024-12-31 07624349 core:RetainedEarningsAccumulatedLosses 2025-12-31 07624349 core:RetainedEarningsAccumulatedLosses 2024-12-31 07624349 core:ShareCapital 2024-03-31 07624349 core:RetainedEarningsAccumulatedLosses 2024-03-31 07624349 core:ShareCapitalOrdinaryShareClass1 2025-12-31 07624349 core:ShareCapitalOrdinaryShareClass1 2024-12-31 07624349 core:ShareCapitalOrdinaryShareClass2 2025-12-31 07624349 core:ShareCapitalOrdinaryShareClass2 2024-12-31 07624349 core:ShareCapitalOrdinaryShareClass3 2025-12-31 07624349 core:ShareCapitalOrdinaryShareClass3 2024-12-31 07624349 core:ShareCapitalOrdinaryShareClass4 2025-12-31 07624349 core:ShareCapitalOrdinaryShareClass4 2024-12-31 07624349 core:ShareCapitalOrdinaryShares 2025-12-31 07624349 core:ShareCapitalOrdinaryShares 2024-12-31 07624349 core:Goodwill 2025-01-01 2025-12-31 07624349 core:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 07624349 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-01 2025-12-31 07624349 core:FurnitureFittings 2025-01-01 2025-12-31 07624349 core:UKTax 2025-01-01 2025-12-31 07624349 core:UKTax 2024-04-01 2024-12-31 07624349 1 2025-01-01 2025-12-31 07624349 1 2024-04-01 2024-12-31 07624349 core:Goodwill 2024-12-31 07624349 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 07624349 2024-12-31 07624349 core:Goodwill core:ExternallyAcquiredIntangibleAssets 2025-01-01 2025-12-31 07624349 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:ExternallyAcquiredIntangibleAssets 2025-01-01 2025-12-31 07624349 core:ExternallyAcquiredIntangibleAssets 2025-01-01 2025-12-31 07624349 core:FurnitureFittings 2024-12-31 07624349 core:CurrentFinancialInstruments 2025-12-31 07624349 core:CurrentFinancialInstruments 2024-12-31 07624349 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 07624349 bus:OrdinaryShareClass2 2025-01-01 2025-12-31 07624349 bus:OrdinaryShareClass3 2025-01-01 2025-12-31 07624349 bus:OrdinaryShareClass4 2025-01-01 2025-12-31 07624349 bus:OrdinaryShareClass1 2025-12-31 07624349 bus:OrdinaryShareClass1 2024-12-31 07624349 bus:OrdinaryShareClass2 2025-12-31 07624349 bus:OrdinaryShareClass2 2024-12-31 07624349 bus:OrdinaryShareClass3 2025-12-31 07624349 bus:OrdinaryShareClass3 2024-12-31 07624349 bus:OrdinaryShareClass4 2025-12-31 07624349 bus:OrdinaryShareClass4 2024-12-31 07624349 bus:AllOrdinaryShares 2025-12-31 07624349 bus:AllOrdinaryShares 2024-12-31 07624349 core:WithinOneYear 2025-12-31 07624349 core:WithinOneYear 2024-12-31 07624349 core:BetweenTwoFiveYears 2025-12-31 07624349 core:BetweenTwoFiveYears 2024-12-31 07624349 core:MoreThanFiveYears 2025-12-31 07624349 core:MoreThanFiveYears 2024-12-31 07624349 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 07624349 bus:FRS102 2025-01-01 2025-12-31 07624349 bus:Audited 2025-01-01 2025-12-31 07624349 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP