ACCOUNTS - Final Accounts

Commitments under operating leases

At 31 March 2026 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Registered number: 04009961

ANZCRO (UK) LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2026

ANZCRO (UK) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANZCRO (UK) LIMITED

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Opinion

We have audited the financial statements of Anzcro (UK) Limited (the 'Company') for the year ended 31 March 2026, which comprise the Statement of Financial Position 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 March 2026 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.

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ANZCRO (UK) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANZCRO (UK) LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' Report has 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 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; or

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 1, 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.

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ANZCRO (UK) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANZCRO (UK) LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

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 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:

- We exercise professional judgment and maintain professional skepticism throughout the audit;

- We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the deliberate override of internal control;

- We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control;

- We evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made;

- We assess the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business;

- We review the scope of the Company's compliance with its regulator, the Civil Aviation Authority ("CAA"), its accreditation with the International Air Transport Association ("IATA") and its membership of The Association of Bonded Travel Organisers Trust ("ABTOT") and sample test relevant documentation to assess this and the effectiveness of its control environment;

- We request and review the minutes of management meetings, and assess any matters identified not already provided for or disclosed that may materially impact the financial statements.

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.

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ANZCRO (UK) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANZCRO (UK) LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

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.

M S Caldicott ACA FCCA CTA (Senior Statutory Auditor)

for and on behalf of

White Hart Associates (London) Limited

Chartered Accountants and Statutory Auditors

2nd Floor, Nucleus House

2 Lower Mortlake Road

Richmond

TW9 2JA

18 August 2026

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ANZCRO (UK) LIMITED

REGISTERED NUMBER: 04009961

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	4		2,948		7,614
			2,948		7,614
Current assets
Debtors: amounts falling due within one year	5	727,694		1,149,516
Cash at bank and in hand	6	1,803,962		1,475,259
		2,531,656		2,624,775
Creditors: amounts falling due within one year	7	(1,720,511)		(1,850,275)
Net current assets			811,145		774,500
Total assets less current liabilities			814,093		782,114

Net assets			814,093		782,114

Capital and reserves
Called up share capital	9	80,000	80,000
Capital redemption reserve	10	107,000	107,000
Profit and loss account	10	627,093	595,114
		814,093	782,114

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 18 August 2026.

Owen Eagles

Director

The notes on pages 6 to 14 form part of these financial statements.

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ANZCRO (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Anzcro (UK) Limited is a private company, limited by shares, incorporated in the United Kingdom, registration number 04009961. The registered office is Pool Innovation Centre, Trevenson Road, Pool, Redruth, Cornwall, TR15 3PL.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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.

The following principal accounting policies have been applied:

2.2

Going concern

The directors have considered the financial position of the company and the ATOL renewal as described further in the directors report. Based on the forecast position for the next financial year, the anticipated renewal of the ATOL licence and the availability of financial support from the parent company, the directors consider it appropriate to continue to prepare the accounts on a going concern basis.

2.3

Revenue

Turnover represents the total invoice value, excluding value added tax and discounts, of travel and holiday arrangements provided by the Company, recognised on a date of departure basis.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

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.

2.6

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.

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ANZCRO (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

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.

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ANZCRO (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.8

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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles	-	4 years
Office equipment	-	10 years
Computer and telephone equipment	-	3 to 5 years

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.

2.9

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.

2.10

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.

2.11

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.

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ANZCRO (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.12

Provisions for liabilities

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.

2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2026	2025
	No.	No.

Administrative and operations	20	17

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ANZCRO (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

4.	Tangible fixed assets

	Motor vehicles	Office equipment	Computer and telephone equipment	Total
	£	£	£	£
Cost or valuation
At 1 April 2025	11,797	618	9,850	22,265
Disposals	-	(618)	-	(618)
At 31 March 2026	11,797	-	9,850	21,647
Depreciation
At 1 April 2025	7,373	618	6,660	14,651
Charge for the year on owned assets	2,949	-	1,717	4,666
Disposals	-	(618)	-	(618)
At 31 March 2026	10,322	-	8,377	18,699
Net book value
At 31 March 2026	1,475	-	1,473	2,948
At 31 March 2025	4,424	-	3,190	7,614

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ANZCRO (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Debtors

					2026	2025
					£	£


Other debtors	54,905	339,374
Prepayments and accrued income	670,971	809,296
Deferred taxation	1,818	846
	727,694	1,149,516

Included in prepayments and accrued income above is the sum of £667,482 (2025: £809,296) which relates to advance supplier payments for bookings departing from 1 April 2026 onwards.

6.	Cash and cash equivalents
		2026	2025
		£	£

Cash at bank and in hand	1,803,962	1,475,259
	1,803,962	1,475,259

7.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Trade creditors	40,550	46,070
Amounts owed to group undertakings	263,108	91,898
Corporation tax	53,801	87,206
Other taxation and social security	22,613	15,763
Other creditors	3,037	2,168
Accruals and deferred income	1,337,402	1,607,170
	1,720,511	1,850,275

Included in accruals and deferred income above is the sum of £1,238,606 (2025: £1,517,837) which relates to advance customer receipts received for bookings departing from 1 April 2026 onwards.

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ANZCRO (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

8.	Deferred taxation

	2026	2025
	£	£

At beginning of year	846	483
Charged to profit or loss	972	363
At end of year	1,818	846

The deferred tax asset is made up as follows:
	2026	2025
	£	£

	Accelerated capital allowances	1,818	846
		1,818	846

9.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

80,000 (2025 - 80,000) Ordinary shares shares of £1.00 each	80,000	80,000

10.

Reserves

Capital redemption reserve

The capital redemption reserve represents the nominal value of all the Company’s share capital that it itself has repurchased.

Profit and loss account

The profit and loss account represents all current and prior periods net retained profits.

11.	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 £13,524 (2025: £9,758). Contributions totalling £3,037 (2025: £2,168) were payable to the fund at the reporting date and are included in creditors.

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ANZCRO (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

	Not later than 1 year	608	579
		608	579

13.	BSP Outstanding

As at 31 March 2026, the Company had £28,307 (2025: £33,999) outstanding to be paid to International Air Transport Association ("IATA") for tickets issued in March 2026.

14.

Related party transactions

The parent company, Australia New Zealand Central Reservations Office Pty Limited, prepares consolidated financial statements. The company’s registered office address is 6 Short Street, Southport QLD 4215, Australia, PO Box 1291

During the year, the Company had the following related party transactions:

Australia New Zealand Central Reservations Office Pty Limited (Parent company)

The Company purchased services through its parent company which totalled £2,685,105 (2025: £2,649,773). At the balance sheet date, the amount due to Australia New Zealand Central Reservations Office Pty Limited was £349,530 (2025: £353,765).

The parent company also owed funds to Anzcro (UK) Limited for payments towards future outstanding creditors. At the balance sheet date, the amount due from Australia New Zealand Central Reservations Office Pty Limited was £86,980 (2025: £261,867).

The above two balances have been offset and the net balance is shown within debtors or creditors in the accounts as appropriate.

Peter Guthrey (Ultimate controlling party)

Directors fees of £100,000 (2025: £50,000) were paid to Peter Guthrey during the year. At the balance sheet date, the amount due to Peter Guthrey was £Nil (2025: £Nil).

15.	Post balance sheet events

There have been no significant events affecting the Company since the year end.

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ANZCRO (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

16.	Controlling party

The immediate parent company is Australian New Zealand Central Reservation Office Pty Limited, a company incorporated in Australia.

The ultimate parent company is Guthrey Holdings Limited, a company incorporated in New Zealand.

The ultimate controlling party is Peter Guthrey.

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