REGISTERED NUMBER:
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THE TRAVEL PROFESSIONALS LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2021 |
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REGISTERED NUMBER:
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THE TRAVEL PROFESSIONALS LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2021 |
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THE TRAVEL PROFESSIONALS LIMITED (REGISTERED NUMBER: 02454478) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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THE TRAVEL PROFESSIONALS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Certified Accountants & |
Registered Auditors |
9 Pound Lane |
Godalming |
Surrey |
GU7 1BX |
THE TRAVEL PROFESSIONALS LIMITED (REGISTERED NUMBER: 02454478) |
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BALANCE SHEET |
31 DECEMBER 2021 |
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31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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THE TRAVEL PROFESSIONALS LIMITED (REGISTERED NUMBER: 02454478) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
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1. | STATUTORY INFORMATION |
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The Travel Professionals Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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All values are rounded to the nearest whole Pound Sterling. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about The Travel Professionals Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Revenue recognition |
Revenue is recognised when the significant risks and rewards of ownership have been transferred to the buyer. |
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Revenue is the total amount receivable by the company for services rendered, excluding value added tax. |
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Air ticket sales commission is recognised on the date of departure. |
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Holiday sales commission is recognised once holidays are paid in full, deposits are handed to the holiday provider intact. |
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Tangible fixed assets |
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Short leasehold | - |
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Fixtures and fittings | - |
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Office equipment | - |
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Government grants |
Government grants are recognised where there is reasonable assurance that the grant will be received. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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THE TRAVEL PROFESSIONALS LIMITED (REGISTERED NUMBER: 02454478) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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Non consolidation of subsidiaries |
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company is therefore not required to and has chosen not to prepare group accounts. |
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Going concern review |
The ultimate parent undertaking is World Mate Co. incorporated in Japan. The ultimate parent undertaking has stated that it intends to continue to support the company and consequently the financial statements have been prepared on the going concern basis. |
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Investments |
Investments are included at cost less amounts written off. Profit or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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THE TRAVEL PROFESSIONALS LIMITED (REGISTERED NUMBER: 02454478) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Office |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2021 |
and 31 December 2021 |
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DEPRECIATION |
At 1 January 2021 |
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Charge for year |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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6. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 January 2021 |
and 31 December 2021 |
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PROVISIONS |
At 1 January 2021 |
and 31 December 2021 | 178,925 |
NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: 69-71 East Street, Epsom, Surrey, KT17 1BP |
Nature of business:
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Class of shares: | holding |
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31.12.21 | 31.12.20 |
£ | £ |
Aggregate capital and reserves |
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THE TRAVEL PROFESSIONALS LIMITED (REGISTERED NUMBER: 02454478) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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VAT |
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Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Other loans |
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Trade creditors |
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Social security and other taxes |
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Other creditors | 198,735 | 195,721 |
Accrued expenses |
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Included in trade creditors were BSP outstanding cash sales at the year end amounting to £17,759. |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Other loans | 250,000 | - |
Accruals and deferred income |
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10. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.21 | 31.12.20 |
£ | £ |
Within one year |
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Between one and five years |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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12. | RELATED PARTY DISCLOSURES |
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The company shares premises with its immediate holding company Cosmomate (UK) Limited and a number of related companies. Some expenses are paid by one company and recharged to the others as appropriate. |