ACCOUNTS - Final Accounts

CASH AND CASH EQUIVALENTS

Unaudited
31
March

COMPANY TRAVEL LIMITED - Company Information

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Registered number: 01854884

COMPANY TRAVEL LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2021

COMPANY TRAVEL LIMITED

REGISTERED NUMBER: 01854884

BALANCE SHEET

AS AT 31 DECEMBER 2021

	31 December	Unaudited 31 March
	2021	2021
Note	£	£

CURRENT ASSETS
Debtors: amounts falling due within one year	4	250,000		-
Cash at bank and in hand	5	18		70,585
		250,018		70,585
Creditors: amounts falling due within one year	6	(256,575)		(7,842)
NET CURRENT (LIABILITIES)/ASSETS			(6,557)		62,743
NET (LIABILITIES)/ASSETS			(6,557)		62,743

CAPITAL AND RESERVES
Called up share capital	7	29,100	29,100
Profit and loss account		(35,657)	33,643
		(6,557)	62,743

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr B C Carroll

Director

Date: 31 October 2022

The notes on pages 2 to 6 form part of these financial statements.

Page 1

COMPANY TRAVEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

1.	GENERAL INFORMATION

Company Travel Limited is a company limited by shares incorporated in England and Wales. Its registered office and trading address is 58-60 Kensington Church Street, London, W8 4DB.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The directors have prepared the financial statements on a going concern basis which assumes that the Company will be able to continue in operational existence for the foreseeable future, being a period of not less than 12 months from the date of approval of the financial statements.
Given the liquidity of the Company at the date of signing the financial statements, together with group support, the directors believe that the Company is adequately placed to manage its business risks successfully and that the Company will have adequate financial resources available to meet is liabilities as they fall due.

2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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COMPANY TRAVEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

2.ACCOUNTING POLICIES (CONTINUED)

2.4

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

2.6

FINANCE COSTS

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.

2.7

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

2.8

PENSIONS

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.9

TAXATION

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 balance sheet date in the countries where the Company operates and generates income.

2.10

EXCEPTIONAL ITEMS

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 3

COMPANY TRAVEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

2.ACCOUNTING POLICIES (CONTINUED)

2.11

DEBTORS

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.

2.12

CASH AND CASH EQUIVALENTS

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.

2.13

CREDITORS

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.

2.14

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

EMPLOYEES

The average monthly number of employees, including directors, during the period was 0 (2021 - 3).

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COMPANY TRAVEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

DEBTORS

					31 December	Unaudited 31 March
					2021	2021
					£	£

	Other debtors	250,000	-

Cash at bank and in hand	18	70,585
Less: bank overdrafts	(1,415)	-
	(1,397)	70,585

Bank overdrafts	1,415	-
Trade creditors	-	3,600
Amounts owed to group undertakings	250,000	-
Corporation tax	-	4,242
Accruals and deferred income	5,160	-
	256,575	7,842

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COMPANY TRAVEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

ALLOTTED, CALLED UP AND FULLY PAID

29,000 (2021 - 29,000) Ordinary shares of £1.00 each	29,000	29,000
100 (2021 - 100) Ordinary A shares of £1.00 each	100	100

	29,100	29,100

8.	CONTROLLING PARTY

The parent undertaking of the smallest group to consolidate these financial statements is Hopper Inc., a company incorporated in Canada. Its registered office is 5795 Gaspe Ave #100, Montreal, Quebec, Canada, H2S 2X3.

9.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the period ended 31 December 2021 was qualified.

The qualification in the audit report was as follows:

We have been unable to obtain sufficient audit evidence in relation to the reported loss for the period ending 31 December 2021 due to the Company being purchased and certain records not being made available on the transfer of information. As such we have not been able to gain material comfort over any transactions or balances in the profit or loss during the period.
The auditors' report included an other matters section:
The financial statements of Company Travel Limited were unaudited for the year ended 31 March 2021 as the Company qualified as a small company and was eligible for audit exemption. Accordingly the comparative information has not been subject to audit.

The audit report was signed on 31 October 2022 by Sean McCann (Senior Statutory Auditor) on behalf of Peters Elworthy & Moore.

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