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QUINTESSENTIALLY TRAVEL LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2026
Cash flows from operating activities
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Profit for the financial year
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Depreciation of tangible assets
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Decrease/(increase) in amounts owed by associates
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Increase/(decrease) in creditors
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(Decrease) in amounts owed to associates
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Profit on sale of investments
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Net cash generated from operating activities
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Cash flows from investing activities
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Purchase of tangible fixed assets
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Sale of fixed asset investments
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Net cash from investing activities
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QUINTESSENTIALLY TRAVEL LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
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Cash flows from financing activities
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Net cash used in financing activities
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Net increase in cash and cash equivalents
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Cash and cash equivalents at beginning of year
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Cash and cash equivalents at the end of year
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Cash and cash equivalents at the end of year comprise:
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The notes on pages 6 to 16 form part of these financial statements.
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QUINTESSENTIALLY TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
Quintessentially Travel Limited is a private company limited by shares incorporated in England and Wales.
The address of the registered office is given in the Company's information page of these financial statements. The nature of the Company's operations and principal activities are that of luxury travel advisor and 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 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:
In relation to going concern considerations, the Company has produced forecasts that demonstrate it can trade within its existing facilities and meet its liabilities as they fall due, As part of this forecasting process, the directors have considered the impact of the cost of living crisis and inflationary pressures on the future performance of the Company.
In conclusion the directors are confident that the Company should remain a going concern for the foreseeable future.
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QUINTESSENTIALLY TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
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'.
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QUINTESSENTIALLY TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
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.
Turnover represents amounts receivable for sales of travel and related services net of VAT and discounts.
Turnover is recognised at the point of departure or experience for the tour operator, gross of all charges billed to the customer less any discounts and sales taxes. The full cost of such trips are included within cost of sales. Any income that relates to travel or experiences commencing after year end of the accounting period is carried forward as deferred income.
Turnover is recognised at the point of departure or experience for commission sales and represents the net commission receivable from third parties, less any discounts and sales taxes.
Turnover is recognised at the point of booking for the corporate travel business, gross of all charges billed to the customer less any discounts and sales taxes. The full cost of such trips are included within cost of sales.
Turnover from marketing sales is recognised straight line over the period of the contract, gross of all charges billed to the customer less any discounts and sales taxes. Any income that relates to marketing services provided after year end of the accounting period is carried forward as deferred income.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Group 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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QUINTESSENTIALLY TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
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.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
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.
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QUINTESSENTIALLY TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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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:
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.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.
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Associates and joint ventures
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Associates and Joint Ventures are held at cost less impairment.
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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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.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
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QUINTESSENTIALLY TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
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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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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The average monthly number of employees, including the directors, during the year was as follows:
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QUINTESSENTIALLY TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
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Charge for the year on owned assets
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Investments in associates
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QUINTESSENTIALLY TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
6.Debtors (continued)
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Amounts owed by joint ventures and associated undertakings
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Prepayments and accrued income
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Prepayments amount above includes gross supplier invoices relating to tours departing on or after 1 May 2026. The corresponding credit balance, representing the gross prepaid invoices net of any amounts paid as at the year end, is included within trade creditors.
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to associates
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Accruals and deferred income
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Deferred income amount above includes gross revenue amounts relating to tours departing on or after 1 May 2026. The corresponding debit balance, representing the gross revenue invoices net of any amounts received as at the year end, is included within trade debtors.
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QUINTESSENTIALLY TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
9.Deferred taxation (continued)
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Charged to profit and loss
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Allotted, called up and fully paid
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2,000,000 (2025 - 2,000,000) Ordinary shares of £0.01 each
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Share premium account
Share premium includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
Capital redemption reserve
Capital redemption reserve records the nominal value of shares repurchased by the Company.
Other reserves
Capital reserves are funds that are non-distributable profits.
Profit and loss account
Profit and loss include all current and prior periods retained profit less dividends declared.
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QUINTESSENTIALLY TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
Five charges in favour of World Fuel Services Europe Limited, each comprising fixed and floating charges over all the Company’s assets, were created and registered at Companies House, by the Company between 14 August 2020 and 20 November 2025. All charges were outstanding as at 30 April 2026.
During the year the Company provided an insurance bond of £411,318 (2025: £727,732) to the Association of Bonded Travel Organisers Trust (ABTOT). The Company has provided the insurers with counter indemnities in relation to the bond issued.
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 £116,339 (2025: £112,935).
Contributions totalling £Nil (2025: £Nil) were outstanding at the balance sheet date.
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Related party transactions
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The Company has taken advantage of the FRS 102 exemption not to disclose related party transactions with companies that are wholly owned within the Group.
The below entities have been deemed related parties as a result of shared ownership across each of these entities as the shareholders of Quintessentially Travel Limited have an interest in the below companies.
Sales between the Company and these related parties were for normal trading for the Company and were conducted on an arm's length basis on normal trading terms.
Expenses paid relate to management recharges, payroll costs and other expenses borne by these related companies. These expenses are charged at appropriate mark ups in line with expected costs from a third party.
Assets due from and liabilities payable to these related parties are interest free and repayable on demand.
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QUINTESSENTIALLY TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
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Quintessentially (UK) Limited
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Quintessentially & Co. Limited
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Quintessentially Aviation Limited
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Quintessentially Villas Limited
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Quintessentially Driven Limited
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Quintessentially Estates Limited
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Quintessentially Q&CO APAC
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Quintessentially Hong Kong Limited
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In the opinion of the directors, there is no ultimate controlling party.
The auditors' report on the financial statements for the year ended 30 April 2026 was unqualified.
The audit report was signed on 11 September 2026 by Nicola Anne Spoor FCA FCCA (Senior Statutory Auditor) on behalf of White Hart Associates (London) Limited.
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