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Registered number: 02365433 SPORTS TOURS LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
SPORTS TOURS LIMITED COMPANY INFORMATION
Directors | B Boyden
| J T Boyden
| J Boyden
| K Boyden
| L James
Registered number | 02365433
Registered office | Rayburn House
| 37 Brunel Parkway
| Derby
| DE24 8HR
Independent auditors | Xeinadin Audit Limited
| Chartered Accountants & Statutory Auditors
| Level 5a
| Maple House
| 149 Tottenham Court Road
| London
| W1T 7NF
SPORTS TOURS LIMITED CONTENTS
| Page
Strategic report | 1 - 3
Directors' report | 4 - 5
Independent auditors' report | 6 - 9
Statement of comprehensive income | 10
Statement of financial position | 11 - 12
Statement of changes in equity | 13 - 14
Notes to the financial statements | 15 - 27
SPORTS TOURS LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
Introduction
The Directors present their annual report for the year ended 31st December 2025.
Business review
Sports Tours Limited has continued to strengthen its position as a leading provider of specialist sports events and European tours, delivering high quality opportunities for youth teams, clubs and associated groups across the UK and internationally. The Company has continued to focus on the development and expansion of its event portfolio, alongside increasing capacity at existing events. This has enabled the business to build on its established customer base while providing a broader range of opportunities across its core sports offering. During the year, the Company has maintained a stable performance, supported by consistent demand for organised sports events and European tours, and a high level of repeat business. The business has continued to prioritise structured and well-managed event delivery, ensuring events and tours are operated effectively and in line with customer expectations. A key area of focus has been the ongoing review and modernisation of systems and processes to enhance both operational performance and service delivery. The implementation and development of a new Tour Management System (“TMS”), incorporating both back-end functionality and customer-facing capabilities, has been a central component of this strategy. This investment supports improved visibility, more efficient internal processes, and more dynamic systems for managing events and European tours. The Company has continued to place emphasis on improving operational efficiency and internal systems to create greater agility within the business. This includes the development of more integrated and responsive processes aimed at supporting growth, enhancing service delivery, and improving scalability as event volumes increase. Financial Performance ∙Revenue Performance: Revenue levels remained stable during the year, supported by consistent booking volumes and continued demand for sports tour events and tournaments. ∙Gross Profit Margin: The Company has continued to focus on maintaining margin discipline through pricing strategies and close management of event and supplier costs. ∙Cost Management: Ongoing attention has been given to managing cost pressures associated with event delivery, including accommodation, venues and logistics. ∙Operational Efficiency: Improvements in systems and process management have supported more consistent operational performance and financial oversight. The Company has maintained a controlled cash position, supporting operational delivery and managing the seasonal nature of tour-related income and expenditure. Page 1
SPORTS TOURS LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Key Achievements in 2025 ∙Event Portfolio Expansion: The Company has continued to expand its range of sports tournaments and tour offerings. ∙Increased Event Capacity: Capacity at established events has been increased, supporting higher participation levels and revenue opportunities. ∙Systems Modernisation: Progress has been made in the implementation of the Tour Management System, enhancing both internal processes and the customer booking experience. ∙Operational Improvements: Continued focus on process improvement has strengthened operational control and delivery. ∙Customer Retention: High levels of repeat business have been maintained, reflecting continued customer satisfaction.
Principal risks and uncertainties
The Directors consider the following to be the principal risks and uncertainties facing the Company: Market Risk The market for sports tours and events remains competitive, with pricing pressure and customer expectations continuing to evolve. The Company seeks to mitigate this through differentiated event offerings and strong service delivery. Event delivery and operational risk The organisation and delivery of sports tournaments requires effective planning and coordination. This is managed through structured operational processes and experienced teams. Capacity and delivery risk As the Company increases capacity at events, there is a requirement to ensure operational delivery remains consistent. This is managed through planning, supplier coordination and internal controls. Systems and implementation risk The development and implementation of new systems, including the Tour Management System, introduces operational and delivery risks. These are mitigated through phased implementation, testing and ongoing development. Supplier risk The business is reliant on third-party suppliers including accommodation providers and event venues. This risk is managed through supplier selection, monitoring and relationship management. Page 2
SPORTS TOURS LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Financial key performance indicators
The Directors consider turnover and gross profit margin to be the key financial KPIs used to monitor the performance of the business. • Turnover: £2,089,034 (2024: £1,909,310) • Gross profit margin: 28.7% (2024: 28%) These KPIs are supported by internal reporting, enabling close monitoring of event performance, participation levels and profitability.
Other key performance indicators
Operational and administrative costs are continuously monitored, enabling timely response to cost pressures and changing business conditions. The Company continues to invest in systems, processes and operational capability, recognising that these are critical to delivering consistent, high-quality sports tour experiences and supporting future growth. This report was approved by the board on 30 June 2026 and signed on its behalf.
L James Director
Page 3
SPORTS TOURS LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The directors present their report and the financial statements for the year ended 31 December 2025.
Directors' responsibilities statement
The directors are responsible for preparing the Strategic report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company'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 Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results and dividends
The profit for the year, after taxation, amounted to £137,983 (2024 - £33,616).
Directors
The directors who served during the year were:
B Boyden
J T Boyden
J Boyden
K Boyden
L James
Future developments
Looking ahead, the Company remains focused on sustainable growth through continued digital transformation, expansion into new markets, and strengthening long-term partnerships with schools, music, and sports organisations. The company will also continue to invest in its systems and infrastructure while maintaining a strong financial position through careful cost and cash management. The directors are confident in the company’s ability to navigate future challenges and capitalise on new opportunities, continuing to deliver high-quality travel experiences. Page 4
SPORTS TOURS LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Auditors
The auditors, Xeinadin Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 30 June 2026 and signed on its behalf.
L James Director
Page 5
SPORTS TOURS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPORTS TOURS LIMITED
Opinion
We have audited the financial statements of Sports Tours Limited (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 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 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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 6
SPORTS TOURS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPORTS TOURS LIMITED (CONTINUED)
Other information
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.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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 identified material misstatements in the Strategic report or the Directors' report. 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' responsibilities statement set out on page 4, 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. Page 7
SPORTS TOURS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPORTS TOURS LIMITED (CONTINUED)
Auditors' 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 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: ∙Enquiry of management and those charged with governance around actual and potential litigation and claims; ∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; ∙Enquiry of management and those charged with governance to identify and instances of non-compliance with laws and regulations. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the Company is subject to many other laws and regulations where the consequence of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance the imposition of fines or litigation or the loss of the Company's licence to operate. We identified the following areas as those most likely to have such an effect: ATOL and ABTOT compliance recognising the nature of the Company's activities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. Page 8
SPORTS TOURS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPORTS TOURS LIMITED (CONTINUED)
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 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. Silpy Kedia ACA (Senior statutory auditor) for and on behalf of Xeinadin Audit Limited Chartered Accountants & Statutory Auditors Level 5a Maple House 149 Tottenham Court Road London W1T 7NF 30 June 2026 Page 9
SPORTS TOURS LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024
| £ | £
Turnover | 3 | 2,089,034 | 1,909,310
Cost of sales |  | (1,490,200) | (1,373,986)
Gross profit |  | 598,834 | 535,324
Administrative expenses |  | (506,544) | (431,385)
Exceptional expenses | 8 | 95,439 | -
Operating profit |  | 187,729 | 103,939
Interest payable and similar expenses | 6 | (6,826) | (13,655)
Profit before tax |  | 180,903 | 90,284
Tax on profit | 7 | (42,920) | (56,668)
Profit for the financial year |  | 137,983 | 33,616
There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of comprehensive income.
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 15 to 27 form part of these financial statements.
Page 10
SPORTS TOURS LIMITED REGISTERED NUMBER: 02365433 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 9 |  | 67,991 |  | 480
Tangible assets | 10 |  | 18,769 |  | 20,711
Investments | 11 |  | - |  | 1,000
|  |  | 86,760 |  | 22,191
Current assets |  |  |  |  |
Stocks |  | 16,686 |  | 8,549 |
Debtors: amounts falling due within one year | 12 | 1,284,906 |  | 1,321,017 |
Cash at bank and in hand | 13 | 206,478 |  | 248,959 |
|  | 1,508,070 |  | 1,578,525 |
Creditors: amounts falling due within one year | 14 | (783,689) |  | (890,892) |
Net current assets |  |  | 724,381 |  | 687,633
Total assets less current liabilities |  |  | 811,141 |  | 709,824
Creditors: amounts falling due after more than one year | 15 |  | - |  | (51,204)
Provisions for liabilities |  |  |  |  |
Deferred tax | 17 | (14,538) |  | - |
|  |  | (14,538) |  | -
Net assets |  |  | 796,603 |  | 658,620
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 30,000 |  | 30,000
Profit and loss account |  |  | 766,603 |  | 628,620
|  |  | 796,603 |  | 658,620
Page 11
SPORTS TOURS LIMITED REGISTERED NUMBER: 02365433 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2025 The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
L James
Director
Date: 30 June 2026
The notes on pages 15 to 27 form part of these financial statements. Page 12
SPORTS TOURS LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2025 | 30,000 | 628,620 | 658,620
Comprehensive income for the year |  |  |
Profit for the year | - | 137,983 | 137,983
Total comprehensive income for the year | - | 137,983 | 137,983
Total transactions with owners | - | - | -
At 31 December 2025 | 30,000 | 766,603 | 796,603
| The notes on pages 15 to 27 form part of these financial statements.
Page 13
SPORTS TOURS LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2024 | 30,000 | 595,004 | 625,004
Comprehensive income for the year |  |  |
Profit for the year | - | 33,616 | 33,616
Total comprehensive income for the year | - | 33,616 | 33,616
Total transactions with owners | - | - | -
At 31 December 2024 | 30,000 | 628,620 | 658,620
| The notes on pages 15 to 27 form part of these financial statements.
Page 14
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Sports Tours Limited is a limited company, registered in England and Wales, United Kingdom. The registered office is Rayburn House, 37 Brunel Parkway, Pride Park, Derby, United Kingdom, DE24 8HR. The principal activity continues to be that of a Tour Operator. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Rayburn Travel Group Limited as at 31 December 2025 and these financial statements may be obtained from the Company Secretary at Rayburn House, 37 Brunel Parkway, Pride Park, Derby, United Kingdom, DE24 8HR.
| 2.3 | Revenue
Revenue comprises of the deposit element and balance in respect of inclusive tours and other services supplied to customers in the ordinary course of business. Revenue is taken to the profit and loss account based on the date of departure.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 15
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.6 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.7 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.8 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
| 2.9 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. 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. Page 16
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | 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. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed below. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | 15 - 40% Reducing balance
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.
| 2.11 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.12 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.13 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.14 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.15 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 17
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.16 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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.
3. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Tours | 2,089,034 | 1,909,310
|  | 2,089,034 | 1,909,310
| All turnover arose within the United Kingdom.
4. | Auditors' remuneration
| During the year, the Company obtained the following services from the Company's auditors:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the Company's financial statements | 8,500 | 8,000
| The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.
Page 18
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Employees
| Staff costs were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 328,550 | 274,970
| Social security costs | 29,278 | 28,133
| Cost of defined contribution scheme | 7,587 | 5,452
|  | 365,415 | 308,555
| The average monthly number of employees, including directors, during the year was 8 (2024 - 7).
6. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest payable | 6,826 | 13,655
|  | 6,826 | 13,655
7. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Total current tax | - | -
| Deferred tax |  |
| Origination and reversal of timing differences | 42,920 | 22,571
| Adjustment for prior period | - | 34,097
| Total deferred tax | 42,920 | 56,668
|  | 42,920 | 56,668
Page 19
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 7.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is lower than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 180,903 | 90,284
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 45,226 | 22,571
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 250 | -
| Fixed asset differences | 750 | -
| Adjustments to tax charge in respect of prior periods | - | 34,097
| Other differences leading to an increase (decrease) in the tax charge | (24,110) | -
| Group relief | 20,804 | -
| Total tax charge for the year | 42,920 | 56,668
| Factors that may affect future tax charges
There were no factors that may affect future tax charges.
8. | Exceptional items
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Impairment of investment in subsidiary | 1,000 | -
| Write-off of intercompany balance with subsidiary | (96,439) | -
|  | (95,439) | -
| During the year, the company's investment in subsidiary has been fully impaired following the dissolution of the subsidiary. Following this the intercompany balance with the subsidiary has been written-off.
Page 20
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
9. | Intangible assets
|  | Software Development | Computer software | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 January 2025 | - | 127,055 | 127,055
| Additions | 67,991 | - | 67,991
| At 31 December 2025 | 67,991 | 127,055 | 195,046
| Amortisation |  |  |
| At 1 January 2025 | - | 126,575 | 126,575
| Charge for the year on owned assets | - | 480 | 480
| At 31 December 2025 | - | 127,055 | 127,055
| Net book value |  |  |
| At 31 December 2025 | 67,991 | - | 67,991
| At 31 December 2024 | - | 480 | 480
Page 21
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Tangible fixed assets
|  | Fixtures and fittings
|  | £
| Cost or valuation |
| At 1 January 2025 | 311,816
| Additions | 1,914
| At 31 December 2025 | 313,730
| Depreciation |
| At 1 January 2025 | 291,105
| Charge for the year on owned assets | 3,856
| At 31 December 2025 | 294,961
| Net book value |
| At 31 December 2025 | 18,769
| At 31 December 2024 | 20,711
Page 22
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
11. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2025 | 1,000
| At 31 December 2025 | 1,000
| Impairment |
| Charge for the period | 1,000
| At 31 December 2025 | 1,000
| Net book value |
| At 31 December 2025 | -
| At 31 December 2024 | 1,000
| During the year, the company's investment in subsidiary has been fully impaired following the dissolution of the subsidiary.
12. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | - | 1,013
| Amounts owed by group undertakings | 1,066,899 | 1,035,728
| Prepayments and accrued income | 218,007 | 255,894
| Deferred taxation | - | 28,382
|  | 1,284,906 | 1,321,017
| Included within prepayments and accrued income are advance payments to suppliers for future travel amounting to £185,728 (2024: £214,426).
Page 23
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
13. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 206,478 | 248,959
|  | 206,478 | 248,959
14. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 51,204 | 87,778
| Trade creditors | 24,117 | 27,573
| Amounts owed to group undertakings | - | 90,988
| Other taxation and social security | 8,611 | 8,760
| Other creditors | 1,872 | 4,543
| Accruals and deferred income | 697,885 | 671,250
|  | 783,689 | 890,892
| Included within accruals and deferred income are advanced receipts from customers for future travel amounting to £654,997 (2024: £616,647).
15. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 51,204
|  | - | 51,204
Page 24
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
16. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 51,204 | 87,778
|  | 51,204 | 87,778
| Amounts falling due 1-2 years |  |
| Bank loans | - | 51,204
|  | - | 51,204
|  | 51,204 | 138,982
| The company secured a loan of £395,000 through a Coronavirus Business Interruption Scheme. The loan is guaranteed by the UK government. The existing bank loans are secured by a fixed and floating charge over the properties of the company, held by Lloyds Bank plc. The bank loan is repayable over equal monthly instalments and interest is charged at 2.17% above base rate, payable monthly.
17. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | 28,382
| Charged to profit or loss | (42,920)
| At end of year | (14,538)
Page 25
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 17.Deferred taxation (continued)
| The deferred taxation balance is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fixed asset timing differences | (14,710) | 2,908
| Tax losses carried forward | - | 25,343
| Short term timing differences | 172 | 131
|  | (14,538) | 28,382
18. | Contingent liabilities
The Company currently holds an Air Travel Organisers' License ('ATOL') issued by the Civil Aviation Authority ('CAA'). During the year, the Company was a member of the Association of British Travel Agents Limited ('ABTA'). As at 31 December 2025, there were no outstanding contingent liabilities given by the Company in the normal course of business to Travel & General Insurance Company Plc in respect of ABTA bonds (2024: nil). During the year, the Company was a member of the Association of Bonded Travel Organisers Trust Limited ('ABTOT'). As at 31 December 2025, there were contingent liabilities given by the Company in the normal course of business to Travel & General Insurance Company Plc in respect of ABTOT bonds amounting to £577,984 (2024: £574,250).
19. | Pension commitments
The Company 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 £7,587 (2024: £5,452). Contributions totalling £1,872 (2024:nil) were payable to the fund at the balance sheet date and included within other creditors.
20. | Related party transactions
| The Company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Page 26
SPORTS TOURS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
21. | Controlling party
The immediate parent undertaking is Rayburn Tours Holdings Limited. The ultimate parent company is Rayburn Travel Group Limited. The largest group to consolidate these financial statements is Rayburn Travel Group Limited. Copies of the consolidated financial statements can be obtained from the Company Secretary at Rayburn House, 37 Brunel Parkway, Pride Park, Derby, United Kingdom, DE24 8HR.
Page 27