Corinthian Travel Management Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Corinthian Travel Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08554077 . The registered office is 43 Manchester Street, London, W1U 7LP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The company is a wholly owned subsidiary of Corinthian (London) Holdings Limited. The parent company has confirmed its intention to provide continuing financial support to enable the company to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements. The directors have no reason to believe that this support will not be forthcoming.

Having considered the company's financial position, forecasts and the availability of support from the parent company, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.3. Significant judgements and estimations

In applying the company's accounting policies, the directors have made the following judgement which has the most significant effect on the amounts recognised in the financial statements. The directors consider that the company acts as principal in the majority of its travel arrangements, on the basis that it controls the services before they are transferred to the customer, sets the prices charged and bears inventory and credit risk. Turnover is therefore recognised gross. Where these indicators are not met, the company is considered to act as agent and revenue is recognised net of supplier costs.

2.4. Turnover

Turnover represents amounts receivable for travel management services provided during the year, stated net of VAT.

The company acts as principal in the provision of travel arrangements, being responsible for identifying and contracting with suppliers, setting prices to customers and bearing the associated supplier and credit risk. Accordingly, amounts billed to customers in respect of accommodation, transport and related travel services are recognised as turnover on a gross basis, with the corresponding supplier costs recognised within cost of sales.

Turnover is recognised when the company has fulfilled its contractual obligations to the customer, which is generally the point at which the relevant travel or accommodation is provided. Amounts received in advance of that date are deferred and carried within creditors until the service is delivered.

Commission income, where the company acts as agent rather than principal, is recognised net of associated costs at the point the underlying booking is confirmed.

...CONTINUED

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Corinthian Travel Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.4. Turnover - continued

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

25% reducing balance

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments 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. Amounts 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

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Corinthian Travel Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 September 2024	450
Additions	190

As at 31 August 2025	640

Depreciation
As at 1 September 2024	90
Provided during the period	110

As at 31 August 2025	200

Net Book Value
As at 31 August 2025	440

As at 1 September 2024	360

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	19,665	11,367
Amounts owed by group undertakings	15,790	-
Other debtors	95,398	1,965

	130,853	13,332

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Corinthian Travel Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	15,195	-
Amounts owed to group undertakings	-	7,278
Other creditors	125,867	38,977
Taxation and social security	4,081	4,803

	145,143	51,058

7. Related Party Transactions

The company is a wholly owned subsidiary of Corinthian (London) Holdings Limited, and as such has taken advantage of the exemption permitted by FRS 102 Section 33 'Related party disclosures' not to provide disclosures of transactions entered into with other wholly members of the group

8. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

9. Ultimate Controlling Party

The company is a 100% subsidiary of Corinthian (London) Holdings Limited. The parent company's

principal place of business is 56 Buckingham Gate, London, SW1E 6AE

10. Audit Information

The auditor's report on the accounts of Corinthian Travel Management Limited for the year ended 31 August 2025 was unqualified.

The auditor's report was signed by Hitesh Gadhia (Senior Statutory Auditor) for and on behalf of Shaw Wallace , Statutory Auditor.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		440		360

			440		360
CURRENT ASSETS
Debtors	5	130,853		13,332
Cash at bank and in hand		12,322		65,017

		143,175		78,349
Creditors: Amounts Falling Due Within One Year	6	(145,143 )		(51,058 )

NET CURRENT ASSETS (LIABILITIES)			(1,968 )		27,291

TOTAL ASSETS LESS CURRENT LIABILITIES			(1,528 )		27,651

NET (LIABILITIES)/ASSETS			(1,528 )		27,651

CAPITAL AND RESERVES
Called up share capital			2		2
Profit and Loss Account			(1,530 )		27,649

SHAREHOLDERS' FUNDS			(1,528)		27,651