HALALBOOKING LTD |
Management’s Key Performance Indicators Report |
for the year ended 31 December 2021 |
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The management of HALALBOOKING LTD present their Key performance indicators report. |
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Principal activity |
The principal activity of the company is a online travel agency at the internet address HalalBooking.com. |
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Fair review of the business |
The company operates an online travel agency at the internet address HalalBooking.com. The website is a marketplace for properties (hotels, resorts, villas, etc) to list their halal-friendly features and prices, and for customers (holiday makers) to search and book these properties. Once a customer books a property - the website generates a service contract between the customer and the property, called “Booking”. The company’s revenue is a percentage cut from the booking’s value and is called “OTA Commission''. It varies from 15% to 20% as per an annual agreement with each property/supplier. For example, if the customer books the hotel at $1,500 booking value, and the company’s OTA Commission for that hotel is 17%, the company’s revenue is $255. |
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Management stats for 2021 are as below. Due to global and multi-currency operations of the company - its management stats are done in USD: |
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|
2021 |
2020 |
Gross bookings value (initial value) |
$41,806,429 |
$14,822,392 |
Cancellations & modifications |
-$5,796,414 |
-$6,304,388 |
Gross bookings value (final value) |
$36,010,015 |
$8,518,004 |
OTA Commission level |
17.82% |
18.87% |
Revenue (Bookings) |
$6,416,027 |
$1,607,075 |
Pax-nights booked |
473,103 |
272,677 |
HBLC loyalty club members active during the year |
178,367 |
106,430 |
E-mailing list subscribers active last 3 months of the year |
456,161 |
374,001 |
Number of properties at year end |
312,323 |
51,654 |
Number of properties with full halal-friendliness data at year end |
21,324 |
10,235 |
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The company has bookings from customers from 100+ countries globally. Since 2018 bookings from all countries, except from Turkey, are paid into the UK company “HalalBooking Ltd”. Bookings from Turkey are paid into the company’s wholly-owned subsidiary in Turkey called “HalalBooking Turizm A.S.”. This is done due to specific requirements of the Turkish market. In 2021 the company did not receive any dividends from its Turkey subsidiary. The company’s global revenue of $6,416,027 is split between UK company and Turkey subsidiary as follows: |
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Global revenue |
All bookings, except from Turkey |
Turkey bookings only |
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paid into UK company “HalalBooking Ltd” |
paid into Turkey company “HalalBooking Turizm A.S.” |
$6,416,027 |
$6,099,821 |
$316,206 |
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These annual accounts are to report on the UK company’s 2021 revenue of $6,099,821 = £4,420,801 |
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HALALBOOKING LTD
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Registered number: |
07064716
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Balance Sheet |
as at 31 December 2021
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Notes |
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2021 |
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2020 |
£ |
£ |
Fixed assets |
Intangible assets |
3 |
|
|
4,209,364 |
|
|
3,293,432 |
Tangible assets |
4 |
|
|
105,507 |
|
|
143,411 |
|
|
|
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4,314,871 |
|
|
3,436,843 |
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Current assets |
Debtors |
5 |
|
3,488,079 |
|
|
267,341 |
Cash at bank and in hand |
|
|
2,938,850 |
|
|
1,021,794 |
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|
|
6,426,929 |
|
|
1,289,135 |
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Creditors: amounts falling due within one year |
6 |
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(4,080,953) |
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(1,253,879) |
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Net current assets |
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|
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2,345,976 |
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|
35,256 |
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Total assets less current liabilities |
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|
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6,660,847 |
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3,472,099 |
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Creditors: amounts falling due after more than one year |
7 |
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(4,764,454) |
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(2,140,000) |
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Net assets |
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1,896,393 |
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1,332,099 |
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Capital and reserves |
Called up share capital |
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|
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2,422,925 |
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2,351,113 |
Profit and loss account |
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|
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(526,532) |
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(1,019,014) |
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Shareholders' funds |
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|
|
1,896,393 |
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|
1,332,099 |
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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____________ |
Elnur Seyidli |
Director |
Approved by the board on 1 September 2022
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HALALBOOKING LTD
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Notes to the Accounts |
for the year ended 31 December 2021
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Turnover |
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Turnover is a percentage cut from the booking's value, called "OTA Commission" and varies 15% to 20% as per annual agreement with each hotel. For example, if a customer books a hotel at $1,000 booking value, and the company's OTA Commission with that hotel is 15%, the company's turnover is $150.
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Plant and machinery |
20% straight line |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate.
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2 |
Employees |
2021 |
|
2020 |
Number |
Number |
|
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Average number of persons employed by the company |
30 |
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32 |
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3 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 January 2021 |
4,930,310 |
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Additions |
1,602,809 |
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At 31 December 2021 |
6,533,119 |
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Amortisation |
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At 1 January 2021 |
1,636,878 |
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Provided during the year |
686,877 |
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At 31 December 2021 |
2,323,755 |
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Net book value |
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At 31 December 2021 |
4,209,364 |
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At 31 December 2020 |
3,293,432 |
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4 |
Tangible fixed assets |
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|
|
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Plant and machinery etc |
£ |
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Cost |
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At 1 January 2021 |
284,326 |
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Additions |
27,800 |
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At 31 December 2021 |
312,126 |
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Depreciation |
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At 1 January 2021 |
140,915 |
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Charge for the year |
65,704 |
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At 31 December 2021 |
206,619 |
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Net book value |
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At 31 December 2021 |
105,507 |
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At 31 December 2020 |
143,411 |
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5 |
Debtors |
2021 |
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2020 |
£ |
£ |
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Trade debtors |
3,386,003 |
|
127,944 |
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Other debtors |
102,076 |
|
139,397 |
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|
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3,488,079 |
|
267,341 |
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6 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
£ |
£ |
|
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Bank loans and overdrafts |
600,000 |
|
260,000 |
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Trade creditors |
2,981,991 |
|
864,310 |
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Taxation and social security costs |
38,158 |
|
(9,939) |
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Other creditors |
460,804 |
|
139,508 |
|
|
|
|
|
|
4,080,953 |
|
1,253,879 |
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|
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7 |
Creditors: amounts falling due after one year |
2021 |
|
2020 |
£ |
£ |
|
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Bank loans |
4,764,454 |
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2,140,000 |
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8 |
Other information |
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HALALBOOKING LTD is a private company limited by shares and incorporated in England. Its registered office is: |
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124 City Road, |
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London, |
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England, |
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EC1V 2NX. |