Contents of the Financial Statements

for the Period Ended 31 December 2025

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

Directors' report period ended 31 December 2025

The directors present their report with the financial statements of the company for the period ended 31 December 2025

Directors

The directors shown below have held office during the whole of the period from
1 January 2025 to 31 December 2025

James Thornton
Zina Bencheikh
Michael Burnett

The director shown below has held office during the period of
1 January 2025 to 1 October 2025

Darrell Wade

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
26 June 2026

And signed on behalf of the board by:
Name: Michael Burnett
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2025

	2025	2024
	£	£
Turnover:	18,774	19,328
Cost of sales:	( 4,587 )	( 4,778 )
Gross profit(or loss):	14,187	14,550
Distribution costs:	0	0
Administrative expenses:	( 13,691 )	( 13,066 )
Other operating income:	169	79
Operating profit(or loss):	665	1,563
Interest receivable and similar income:	3	43
Interest payable and similar charges:	0	0
Profit(or loss) before tax:	668	1,606
Tax:	( 226 )	121
Profit(or loss) for the financial year:	442	1,727

Balance sheet

As at 31 December 2025

	Notes	2025	2024
		£	£
Called up share capital not paid:		0	0
Fixed assets
Intangible assets:	3	256	288
Tangible assets:	4	191	196
Investments:		0	0
Total fixed assets:		447	484
Current assets
Stocks:		0	0
Debtors:	5	10,649	8,161
Cash at bank and in hand:		4,555	6,120
Investments:		0	0
Total current assets:		15,204	14,281
Prepayments and accrued income:		0	0
Creditors: amounts falling due within one year:	6	( 13,149 )	( 12,745 )
Net current assets (liabilities):		2,055	1,536
Total assets less current liabilities:		2,502	2,020
Creditors: amounts falling due after more than one year:		0	0
Provision for liabilities:		( 130 )	( 90 )
Accruals and deferred income:		0	0
Total net assets (liabilities):		2,372	1,930
Capital and reserves
Called up share capital:		2,700	2,700
Share premium account:		0	0
Other reserves:		0	0
Profit and loss account:		(328 )	(770 )
Total Shareholders' funds:		2,372	1,930

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  2.11 Turnover and payment on account All turnover represents the aggregate value of revenue receivable (excluding VAT) from package holidays and commission earned on sales of product on behalf of other entities within the Intrepid Group. (i) Revenue recognition Revenue is recognised when the risk and rewards associated with a product or service is transferred to the buyer. Revenue in respect of in-house holiday products is recognised over the course of the trip as the service is provided, with the exception of cancellation and amendment income which is recognised at the time of the transaction. Revenue in respect of flights is recognised at the time of departure. Commission earned in respect of the Intrepid Group travel products, along with related costs, are recognised in the Statement of Comprehensive Income on the date of departure. (ii) Client monies received in advance (payments received on account) Client monies received at the balance sheet dates relating to holidays commencing and flights departing after the year end, are deferred and included within payments received on account as a creditor falling due within one year. (iii) Valuation of revenue Where the Company acts as principal, revenue is stated at the contractual value of goods and services provided. Where the Company acts as an agent between the service provider and the end customer, revenue is recognised as the value of the commission received from the service provider when earned. Businesses are identified as being intermediaries dependent on a number of criteria, principally the control exercised over the provision of service, inventory risk and customer credit risk.

  Tangible fixed assets depreciation policy

  2.3 Tangible fixed assets Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. 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: Plant and machinery- 2-13 years straight line Fixture, fittings and equipment- 2-13 years straight line Office equipment- 2-13 years straight line The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  Valuation information and policy

  Included in each note as relevant to the section

  Other accounting policies

  Read the attachment

Notes to the Financial Statements

for the Period Ended 31 December 2025

• 2. Employees

  	2025	2024
  Average number of employees during the period	65	84