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Registered number: 10044441
RAILBOOKERS UK TRADING LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2025
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RAILBOOKERS UK TRADING LIMITED
REGISTERED NUMBER: 10044441
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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RAILBOOKERS UK TRADING LIMITED
REGISTERED NUMBER: 10044441
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The notes on pages 3 to 13 form part of these financial statements.
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RAILBOOKERS UK TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Railbookers UK Trading Limited is a private limited company by shares incorporated in England and Wales, United Kingdom.
The address of the registered office is 107-111 Fleet Street, London, England, EC4A 2AB.
The nature of the Company's operations and principal activities are that of a specialist tour operator.
2.Accounting policies
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Basis of preparation of financial statements
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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 disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The directors have prepared forecasts and considered the Company's financial position, current trading performance and cash flow requirements for a period of at least twelve months from the date of approval of these financial statements.
The Company incurred a loss during the year, primarily as a result of strategic investment in the business. Trading has improved post year end and the directors expect the Company to return to profitability during 2026, supported by improved trading performance and a strong level of forward customer bookings.
The directors have also considered the Company's cash resources and the recoverability of significant related party balances and are satisfied that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.
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RAILBOOKERS UK TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Turnover comprises of revenue recognised by the company in respect of inclusive rail 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.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
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.
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RAILBOOKERS UK TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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.
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Current and deferred taxation
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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.
All amounts received from customers relating to holidays with departures after the year end are disclosed under other creditors.
All amounts paid to suppliers relating to holidays with departures after the year end are disclosed under other debtors.
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RAILBOOKERS UK TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.
Other 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.
The estimated useful lives range as follows:
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, using the straight-line method.
The estimated useful lives range as follows:
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.
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.
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RAILBOOKERS UK TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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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.
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.
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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RAILBOOKERS UK TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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 or 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.
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The average monthly number of employees, including directors, during the year was 31 (2024 - 30).
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Goodwill represents all payments made to acquire the assets and related costs to honour pre-acquisition bookings already taken.
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RAILBOOKERS UK TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Charge for the year on owned assets
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Amounts owed by group undertakings
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Amounts owed by related party
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Prepayments and accrued income
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Included within prepayments are £246,164 (2024: £295,155) of payments made to suppliers for customers who are travelling post 31 December 2025.
Prepayments also include deposit held as a financial guarantee for the protection of monies collected from customers amounting to £363,633 (2024: £391,243) (see note 10).
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RAILBOOKERS UK TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due within one year
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Amounts owed to related party
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Other taxation and social security
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Accruals and deferred income
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Included within accruals and deferred income is £540,728 (2024: £287,252) of deposits held from customers who are travelling post 31 December 2025.
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Creditors: Amounts falling due after more than one year
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Accruals and deferred income
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Included within accruals and deferred income is £7,836 (2024: £2,000) of deposits held from customers who are travelling post 31 December 2025.
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RAILBOOKERS UK TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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During 2020, the Company entered into a Coronavirus Business Interruption Loan (CBIL) facility with Barclays amounting to £950,000. The loan was repayable over 5 years with a floating interest rate subject to a minimum margin of 3.41% per annum. The loan was fully repaid during the year and no balance remained outstanding at the year end.
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Charged to profit or loss
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The deferred tax asset is made up as follows:
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Fixed asset timing differences
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Tax losses carried forward
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Short term timing differences
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RAILBOOKERS UK TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The company currently holds an Air Travel Organisers’ License (‘ATOL’) issued by the Civil Aviation Authority (‘CAA’). In order to offer air inclusive package holidays, the company requires the annual renewal by the CAA of its ATOL licence. The CAA grants this license on the basis of meeting agreed financial criteria and renews this in September (effective 1st October) each year. The company has complied with these requirements in previous years. The directors see no reason why the ATOL license will not be renewed in September 2026 on substantially the same terms and conditions as currently agreed with the CAA
As of 31 December 2025, the company had in place a cash backed bond with ABTA amounting to £363,633 (£391,243), (see note 6).
The Company's banking service, National Westminster Bank Plc, hold a fixed and floating charge over the Company's assets.
On 27 March 2023 the Company created a fixed charge on all its present and future rights, title and interest in each cash deposit placed with Travel & General Insurance Services Limited in favour of Accelerant Insurance Europe Sa.
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 £36,848 (2024: £31,694).
Pension contributions of £6,396 (2024: £5,212) were payable to the fund at the balance sheet date.
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Related party transactions
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The company has a balance due from a connected company Yankee Leisure Group Inc, a company owned by the directors of the parent company. The balance due from Yankee Leisure Group Inc as at the balance sheet date was £2,752,325 (2024: £533,709).
The company has a balance due to a connected company Yankee Leisure Group Pty Ltd, a company owned by the directors of the parent company. The balance due to Yankee Leisure Group Pty Ltd as at the balance sheet date was £3,257,714 (2024: 453,181).
The company has a balance due from a connected company Yankee Leisure Group Canada Ltd, a company owned by the directors of the parent company. The balance due from Yankee Leisure Group Canada Ltd as at the balance sheet date was £10,795 (2024: Nil).
The company has taken advantage of the exemption from disclosing related party transactions with other 100% owned members of the Group headed by Yankee Leisure Group Limited by virtue of FRS 102 section 33.1A.
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The ultimate parent company is Yankee Leisure Group Limited, a company incorporated in England and Wales, by virtue of its shareholding.
The ultimate controlling party is J J Tavano.
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RAILBOOKERS UK TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 30 June 2026 by Silpy Kedia ACA (Senior statutory auditor) on behalf of Xeinadin Audit Limited.
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