REGISTERED NUMBER: 07149227 (England and Wales)

Financial Statements For The Year Ended 31 December 2025

for

EXPEDITION ADVENTURES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Benjamin Arnold Ioan

Yann Wulser

REGISTERED OFFICE:

Winwood House

Corney Square

Penrith

Cumbria

CA11 7PX

REGISTERED NUMBER:

07149227 (England and Wales)

INDEPENDENT AUDITOR:

Just Audit Limited

Chartered Accountants & Statutory Auditors

Strelley Hall

Main Street

Strelley

Nottingham

NG8 6PE

FIXED ASSETS

Intangible assets

4

23,302

34,950

Tangible assets

5

4,448

1,021

27,750

35,971

CURRENT ASSETS

Debtors

6

243,526

265,196

Cash at bank and in hand

653,063

894,252

896,589

1,159,448

CREDITORS

Amounts falling due within one year

7

748,231

1,012,435

NET CURRENT ASSETS

148,358

147,013

TOTAL ASSETS LESS CURRENT LIABILITIES

176,108

182,984

PROVISIONS FOR LIABILITIES

1,112

255

NET ASSETS

174,996

182,729

CAPITAL AND RESERVES

Called up share capital

8

33,750

33,750

Capital redemption reserve

31,250

31,250

Retained earnings

109,996

117,729

SHAREHOLDERS' FUNDS

174,996

182,729

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2026 and were signed on its behalf by:

Samuel James Holland - Director

1.	STATUTORY INFORMATION

Expedition Adventures Limited is a private company, limited by shares, registered in England and Wales.The company's registered number is 07149227 and it's registered office address is Winwood House, Corney Square, Penrith, Cumbria, CA11 7PX.

The presentation currency is Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents income in respect of treks and expeditions supplied as principal tour operator, excluding value added tax. Revenue is recognised at the date of departure of a tour.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website cost is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are initially recognised at cost and subsequently measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings

-

10% on reducing balance

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors have a reasonable expectation that the Company will be able to continue operations and have sufficient funds and cash reserves to meet liabilities as they fall due for at least 12 months from the date of approval of these financial statements, and have therefore prepared the financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Website

Goodwill

costs

Totals

£

£

£

COST

At 1 January 2025

and 31 December 2025

116,500

4,869

121,369

AMORTISATION

At 1 January 2025

81,550

4,869

86,419

Amortisation for year

11,648

-

11,648

At 31 December 2025

93,198

4,869

98,067

NET BOOK VALUE

At 31 December 2025

23,302

-

23,302

At 31 December 2024

34,950

-

34,950

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2025

226

14,675

14,901

Additions

3,334

1,036

4,370

At 31 December 2025

3,560

15,711

19,271

DEPRECIATION

At 1 January 2025

68

13,812

13,880

Charge for year

324

619

943

At 31 December 2025

392

14,431

14,823

NET BOOK VALUE

At 31 December 2025

3,168

1,280

4,448

At 31 December 2024

158

863

1,021

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

116,063

185,492

Other debtors

127,463

79,704

243,526

265,196

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

155

Amounts owed to group undertakings

-

36,972

Taxation and social security

51,451

40,536

Other creditors

696,780

934,772

748,231

1,012,435

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

33,750

Ordinary Shares

£1

33,750

33,750

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

David Fletcher BA BFP FCA (Senior Statutory Auditor)

for and on behalf of Just Audit Limited

10.	POST BALANCE SHEET EVENTS

On 10 March 2026 the entire share capital of the company was acquired by Expedition Adventures (Holdings) Limited. The company is therefore no longer part of the Altai SAS group. The acquisition was funded by a bank loan which is secured on the assets of Expedition Adventures Limited and supported by personal guarantees made by the two directors.

11.	PARENT COMPANY

The parent company of the smallest group that draws up consolidated financial statements which include the results of Expedition Adventures Limited for the year ended 31 December 2025 is Altai SAS, and copies of the consolidated financial statements are available from its registered office address which is Le Nereis, Avenue Andre Roussin, 13016, Marseille.