T2RL Travel Technology Research Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

T2RL Travel Technology Research Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05402199 . The registered office is Burnham House, 93 High Street, Burnham, Buckinghamshire, SL1 7JZ.

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 was reliant upon the deferred income amounting to £1,834,492 which will be realised in income statement in next year. The company has been able to meet its liabilities in full as they become due. The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. In these circumstances the financial statements have been prepared on a going concern basis.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

2.4. 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

Straight line over three years

2.5. 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.

2.6. Taxation

Corporation tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

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T2RL Travel Technology Research Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 31 (2024: 27)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 April 2024	35,459
Additions	18,372
Disposals	(5,882 )

As at 31 March 2025	47,949

Depreciation
As at 1 April 2024	22,700
Provided during the period	11,122
Disposals	(5,375 )

As at 31 March 2025	28,447

Net Book Value
As at 31 March 2025	19,502

As at 1 April 2024	12,759

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,280,695	1,956,034
Prepayments and accrued income	281,441	112,387
Other debtors	22,315	12,244
Deferred tax current asset	50,889	19,744

	2,635,340	2,100,409

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	198,528	147,027
Bank loans and overdrafts	10,000	10,000
Social security and other taxes	85,131	211,714
VAT	89,528	120,173
Other creditors	15,133	29,799
Other loans	-	100,000
Accruals and deferred income	2,744,094	2,553,700

	3,142,414	3,172,413

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T2RL Travel Technology Research Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	3,096	13,203

8. Deferred Taxation

The provision for deferred taxation is made up of accelerated capital allowances and tax losses carried forward.

	2025	2024
	£	£
Accelerated capital allowances	(4,876)	(3,190)
Tax losses carried forward	55,765	22,934

	50,889	19,744

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	934	934

10. Audit Information

The auditor's report on the accounts of T2RL Travel Technology Research Ltd for the year ended 31 March 2025 was unqualified.

The auditor's report was signed by Raymond Long (Senior Statutory Auditor) for and on behalf of Munday Long & Co Limited , Statutory Auditor.

Munday Long & Co Limited

Chartered Certified Accountants

Alton House, 66-68 High Street

Northwood

Middlesex

HA6 1BL

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		19,502		12,759

			19,502		12,759
CURRENT ASSETS
Debtors	5	2,635,340		2,100,409
Cash at bank and in hand		554,554		1,247,063

		3,189,894		3,347,472
Creditors: Amounts Falling Due Within One Year	6	(3,142,414 )		(3,172,413 )

NET CURRENT ASSETS (LIABILITIES)			47,480		175,059

TOTAL ASSETS LESS CURRENT LIABILITIES			66,982		187,818

Creditors: Amounts Falling Due After More Than One Year	7		(3,096 )		(13,203 )

NET ASSETS			63,886		174,615

CAPITAL AND RESERVES
Called up share capital	9		934		934
Share premium account			39,308		39,308
Profit and Loss Account			23,644		134,373

SHAREHOLDERS' FUNDS			63,886		174,615