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"ConsolidatedStatementOfChangesInEquity_Label_0097": { "value": "17000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_0096": { "value": "17000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_00252": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": 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"scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_00256": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_NegatedLabel_00246": { "value": "-21000000.0", "decimals": -6, "dimensions": { "concept": "hsw:TransferOfExercisedAndExpiredShareBasedAwards", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_NegatedLabel_00247": { "value": "21000000.0", "decimals": -6, "dimensions": { "concept": "hsw:TransferOfExercisedAndExpiredShareBasedAwards", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_NegatedLabel_00248": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "hsw:TransferOfExercisedAndExpiredShareBasedAwards", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_PeriodEndLabel_00330": { "value": "13000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_PeriodEndLabel_00329": { "value": "144000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_PeriodEndLabel_00328": { "value": "406000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_PeriodEndLabel_00327": { "value": "29000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_PeriodEndLabel_00326": { "value": "592000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_0085": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IssueOfEquity", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_0084": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IssueOfEquity", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_0083": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IssueOfEquity", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_0082": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IssueOfEquity", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_0081": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IssueOfEquity", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_0095": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_0094": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_0093": { "value": "91000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_0092": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_0091": { "value": "91000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_00105": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_Label_00104": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800OC94PF2D675H41", "period": 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"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_NegatedLabel_00241": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "hsw:TransferOfExercisedAndExpiredShareBasedAwards", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_NegatedLabel_00242": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "hsw:TransferOfExercisedAndExpiredShareBasedAwards", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_NegatedLabel_00243": { "value": 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"ConsolidatedStatementOfChangesInEquity_PeriodEndLabel_00335": { "value": "13000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800OC94PF2D675H41", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_PeriodEndLabel_00334": { "value": "144000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800OC94PF2D675H41", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_PeriodEndLabel_00333": { "value": "514000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800OC94PF2D675H41", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_PeriodEndLabel_00332": { "value": "30000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800OC94PF2D675H41", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfChangesInEquity_PeriodEndLabel_00331": { "value": "701000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800OC94PF2D675H41", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00173": { "value": "Consolidated Statement of Cash Flows
for the year ended 31 December 2024
2024
2023
Notes
\u20ac\u2019m
\u20ac\u2019m
Cash flows from operating activities
Profit for the year
9.1
5.1
Taxation charge/(credit)
2.0
(6.2)
Profit/(loss) before tax
11.1
(1.1)
Amortisation and depreciation
4
9.1
11.8
Share of results of associate
14
(0.1)
(0.1)
Impairment of investment in associate
1.2
\u2013
Non-cash movements in provisions
(1.3)
\u2013
Financial income
(0.1)
\u2013
Finance expense
8
0.3
2.5
Finance expense (exceptional)
8
\u2013
3.5
Employee equity settled share-based payment expense
24
1.8
1.7
Changes in working capital items:
(Decrease)/increase in trade and other payables
(0.2)
2.4
Increase in trade and other receivables
16
(1.2)
\u2013
Cash generated from operations
20.6
20.7
Interest paid (including lease interest)
(0.3)
(3.0)
Interest received
0.1
\u2013
Income tax paid
(0.1)
(0.3)
Net cash generated from operating activities
20.3
17.4
Cash flows from investing activities
Acquisition/development of intangible assets
11
(5.5)
(4.0)
Purchases of property, plant and equipment
12
(0.1)
(0.1)
Net cash used in investing activities
(5.6)
(4.1)
Cash flows from financing activities
Drawdown of borrowings
22
\u2013
17.4
Transaction costs relating to borrowings
22
\u2013
(0.2)
Repayment of borrowings
22
(10.3)
(41.2)
Repayment of warehoused debt
20
(3.2)
\u2013
Proceeds received on issue of shares
18
\u2013
0.1
Repayments of obligations under lease liabilities
15
(0.5)
(0.9)
Net cash used in financing activities
(14.0)
(24.8)
Net decrease in cash and cash equivalents
0.7
(11.5)
Cash and cash equivalents at the beginning of the year
7.5
19.0
Cash and cash equivalents at the end of the year
17
8.2
7.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "ConsolidatedStatementOfCashFlows_Label_00106": { "value": "91000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00107": { "value": "51000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00108": { "value": "20000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00109": { "value": "-62000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00111": { "value": "111000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00110": { "value": "-11000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00113": { "value": "91000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00112": { "value": "118000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_NegatedLabel_00115": { "value": "1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_NegatedLabel_00114": { "value": "1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod", 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"ConsolidatedStatementOfCashFlows_Label_00136": { "value": "174000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_NegatedLabel_00139": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "hsw:TransactionCostsRelatingToBorrowings", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_NegatedLabel_00138": { "value": "2000000.0", "decimals": -6, "dimensions": { "concept": "hsw:TransactionCostsRelatingToBorrowings", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_NegatedTerseLabel_00141": { "value": "103000000.0", "decimals": -6, "dimensions": { 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"ConsolidatedStatementOfCashFlows_TotalLabel_00145": { "value": "7000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_TotalLabel_00144": { "value": "-115000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_PeriodStartLabel_00147": { "value": "75000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_PeriodStartLabel_00146": { "value": "190000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:213800OC94PF2D675H41", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_PeriodEndLabel_00149": { "value": "82000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:213800OC94PF2D675H41", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_PeriodEndLabel_00148": { "value": "75000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00174": { "value": "1. Material accounting policies
General Information
Hostelworld Group plc, hereinafter \u201cthe Company\u201d, is a
public limited company domiciled in Ireland, incorporated
in the United Kingdom on the 09 October 2015 under
the Companies Act 2006 and is registered in England
and Wales. The registered office of the Company is
One Chamberlain Square, Birmingham, B3 3AX,
United Kingdom.
The Company and its subsidiaries (together \u201cthe Group\u201d)
provide software and data processing services that
facilitate hostel, B&B, hotel and other accommodation
bookings worldwide.
The Company\u2019s shares are quoted on Euronext Dublin
and the London Stock Exchange.
The Company and consolidated financial statements
were approved and authorised for issue by the Board
of Directors on 19 March 2025.
Going Concern
The Directors, after due consideration and review of the
Board approved 2025 budget and two-year outlook,
and further two years of management projections, and
having made enquiries, have a reasonable expectation
that the Group has adequate resources to continue
operating as a going concern for the foreseeable future,
at least 12 months from the date of approval of the
financial statements. In their review of the budget and
outlook the Directors referred to the Group\u2019s strategy,
the Group\u2019s Risk Register and current and anticipated
trading volumes. The Directors considered mitigating
actions available to the Group should trading volumes
not materialise including the flexibility of the Group to
fully control its largest cost base direct marketing, and
management\u2019s ability to protect margin should the
Group experience a downside in trading.
In addition to the base budget for 2025, the Directors also
considered two additional scenarios that were designed
to stress the budget and outlook prepared. An extreme
downside scenario considered no growth in booking
volumes year-on-year, no uplift to average booking
values and bed prices year-on-year and an increase in
marketing costs as a % of generated revenue instead of
assuming any further efficiencies being obtained within
marketing. The Directors also considered a stressed
scenario of reduced booking volumes in Europe (-2%),
the Group's largest market. Under both scenarios,
although profitability is impacted, the Group had sufficient
cash reserves available to remain a going concern.
In their review, the Directors took account of cash flow
forecasts prepared for 12 months from 19 March 2025
based upon the Board approved budget and outlook
and in their assessment took into account the
repayment of the Group\u2019s external bank debt in 2024,
the repayment plan in place with the Revenue
Commissioners to repay the remaining warehoused
facility in monthly instalments from now to April 2027
and the current and anticipated levels of cash.
At this point in time, the consequences of the current
unrest in Ukraine and in Gaza remains uncertain. The
Group has not experienced a significant impact to
revenue during 2024, and management continue to
monitor any development in the conflict, and the impact
to the Group closely. No revenue has been budgeted for
these countries in 2025. In addition, we have performed
an assessment of the impact of climate risk, as part of
the Director\u2019s assessment of the viability of the Group
with further detail set out on page 73.
Based upon the factors considered above, the Directors
are satisfied that the Group and Company has sufficient
resources to continue in operation for the foreseeable
future, a period of not less than 12 months from the
date of this report. Accordingly, they continue to
adopt the going concern basis in preparing the Group
financial statements.
Basis of Preparation
The financial statements have been prepared in
conformity with the requirements of the Companies Act
2006 and UK adopted International Financial Reporting
Standards (\u201cIFRS\u201d) and IFRS adopted pursuant to
Regulation (\u201cEC\u201d) No 1606/2002 as it applies in the
European Union.
The consolidated financial statements also comply with
Article 4 of the EU IAS Regulation. References to IFRS
hereafter refer to UK adopted IFRS and IFRS adopted
by the EU.
The consolidated financial statements have been
prepared under the historical cost basis. The investment
in associate is accounted for using the equity method.
In the preparation of these consolidated financial
statements the accounting policies set out below have
been applied consistently by all Group companies.
The consolidated financial statements are presented
in euro which is the currency of the primary economic
environment in which the Group operates.
The Group has changed the presentation of its
consolidated financial statements from amounts
presented in thousands (\u20ac\u2019000) to millions
(\u20acm) effective
from the financial year ended 31 December 2024. This
change reflects the Group\u2019s return to normalised trading
volumes post COVID-19 in the prior year, making the
presentation in millions more appropriate for providing
clearer and more relevant financial information to the
users. The change in presentation has been applied
retrospectively for all comparative information included
in these financial statements to ensure consistency
and comparability.
Climate Related Matters
The Group have taken account of climate related matters
in its financial statements. Operating costs in 2024, and
the 2025 budget and two-year outlook, and further
two years of management projections, incorporate
any operating costs relating to our sustainability
roadmap, namely the personnel required to support on
commitments and targets in place, as well as the cost
of any current and future emission reductions and
investments in climate action projects. Following an
assessment completed by management in 2024, the
Group have not identified any cause for any other liability,
provision or impairment of any assets because of its
review of climate related matters, and further have not
identified any in future projections.
Climate related risks can impact our revenue and trading
for factors such as a customer may not want to travel,
a hostel may be forced to close, or an area is not
accessible. The risk is somewhat mitigated as our
target 18-34
-year-old population typically view travel
as a \u2018rite of passage\u2019 and staying in hostels is a more
sustainable way of travelling compared to other
accommodation types. In addition, our target customers
have proven in their booking patterns that they are
flexible. If they are unable to travel to a particular location,
we have evidence from studying historic booking
behaviours that demand moves elsewhere. These factors
are considered in detail in our Sustainability Report set
out on pages 42 to 61. The budget does not include
any adjustments to revenue for climate change, and we
will monitor the impact climate change may have on
booking demand closely. The Group\u2019s business model
allows for flexibility, through being asset light, which
means the Group can respond quickly to changes in
customer demand if a matter arises.
The Group\u2019s consideration of climate-related matters in
estimates and assumptions includes the following areas:
\u2022
Impairment of assets:
Future expected cashflows may
be impacted by reducing revenue projections driven
by changes in consumer demand and increasing
costs. To offset this uncertainty, the Group have
significant headroom in its goodwill and intangible
asset impairment reviews outlined in the sensitivity
analysis disclosed on page 186.
\u2022
Deferred tax asset recoverability:
Taxable profits
and whether the Group has sufficient future taxable
income may be impacted by changes in consumer
demand and increasing costs. To offset this
uncertainty, the Group have headroom in its deferred
tax recoverability assessments as outlined in the
sensitivity analysis disclosed on page 179, and the
primary basis of the benefit the Group has from
historic trading losses and timing differences does
not expire.
\u2022
Going concern:
Future expected cashflows
underpinning going concern may be impacted
by reduced revenue and profit projections driven
by consumer demand and increasing costs. Any
downside impact to bookings as a result of climate
change are considered in the downside scenarios
detailed in the Directors assessment of going concern
set out on page 169, with a further assessment
included within our Viability Statement set out in
the strategic report on page 73.
Basis of Consolidation
Subsidiaries
The consolidated financial statements incorporate
the financial statements of the Company and entities
controlled by the Company (its subsidiaries) all of which
prepare financial statements up to 31 December.
Control is achieved when the Company has the power
over the investee, is exposed, or has rights, to variable
return from its investment with the investee and has the
ability to use its power to affect its returns. The financial
statements of subsidiaries are included in the
consolidated financial statements from the date that
control commences until the date that control ceases.
All intragroup assets and liabilities, equity, income,
expenses and cash flows relating to transactions
between the members of the Group are eliminated on
consolidation. Unrealised losses are also eliminated,
except where they provide evidence of impairment.
Associates
Associates are entities over which the Group has
significant influence but not control, generally
accompanying a shareholding of between 20% and 50%
of the voting rights. Significant influence is the power to
participate in the financial and operating policy decisions
of the investee but is not control over those policies.
Investments in associates are accounted for using the
equity method of accounting and are initially recognised
at cost. On acquisition of the investment in associate, any
excess of the cost of the investment over the Group\u2019s
share of the net fair value of the identifiable assets and
liabilities of the investee is recognised as goodwill, which
is included within the carrying value of the investment.
The Group\u2019s share of its associates\u2019 post-acquisition
profits or losses is recognised in \u2018share of results of
associate\u2019 in the consolidated income statement, and
its share of post-acquisition movements in reserves is
recognised in the Consolidated Statement of Changes in
Equity. The cumulative post-acquisition movements are
adjusted against the carrying amount of the investment,
less any impairment in value. Where indicators of
impairment arise, the carrying amount of the associate
is tested for impairment by comparing its recoverable
amount with its carrying amount.
The requirements of IAS 36 are applied to determine
whether it is necessary to recognise any impairment loss
with respect to the Group\u2019s investment in an associate.
When necessary, the entire carrying amount of the
investment (including goodwill) is tested for impairment
in accordance with IAS 36 as a single asset by comparing
its recoverable amount (higher of value in use and fair
value less costs of disposal) with its carrying amount.
Any impairments in value are recognised in the
consolidated income statement. Any impairment loss
recognised is not allocated to any asset, including
goodwill that forms part of the carrying amount of the
investment. Any reversal of that impairment loss is
recognised in accordance with IAS 36 to the extent
that the recoverable amount of the investment
subsequently increases.
Unrealised gains arising from transactions with associates
are eliminated to the extent of the Group\u2019s interest in the
entity. Unrealised losses are eliminated to the extent that
they do not provide evidence of impairment. When the
Group\u2019s share of losses in an associate equals or exceeds
its interest in the associate, the Group does not recognise
further losses unless the Group has incurred obligations
or made payments on behalf of the associate. The
accounting policies of associates are amended where
necessary to ensure consistency of accounting
treatment at Group level.
When the Group ceases to have significant influence,
any retained interest in the entity is re-measured to its
fair value at the date when significant influence is lost
with the change in carrying amount recognised in
the consolidated income statement. The Group also
reclassifies any movements previously recognised
in other comprehensive income to the consolidated
income statement.
New Standards, Amendments and Interpretations
Issued and Adopted by the Group in 2024:
The following changes to IFRS became effective for
the Group during the year but did not result in material
changes to the Group\u2019s consolidated financial statements:
\u2022
Amendments to IAS 1 Presentation of
Financial Statements:
\u2013
Classification of Liabilities as Current or
Non-current Date
\u2013
Non-current Liabilities with Covenants
\u2022
Lease Liability in a Sale and Leaseback
(Amendments to IFRS 16)
\u2022
Amendments to IAS 7 Statement of Cash Flows and
IFRS 7 Financial Instruments: Disclosures: Supplier
Finance Arrangements
New and Amended Standards and Interpretations
Not yet Mandatorily effective:
The Group has not applied certain new standards,
amendments and interpretations to existing standards
which are not yet mandatorily effective and have not yet
been endorsed by the UK or by the EU, in some instances:
\u2022
IFRS 19: Subsidiaries without Public
Accountability: Disclosures
\u2022
Amendments to IAS 21 The Effects of Changes in
Foreign Exchange Rates: Lack of Exchangeability
\u2022
Sale of Contribution of Assets between an Investor
and its Associate or Joint Venture (Amendments to
IFRS 10 and IAS 28)
\u2022
Amendments to the Classification and Measurement
of Financial Instruments (Amendments to IFRS 9
and IFRS 7)
\u2022
IFRS 18: Presentation and Disclosure in Financial
Statements will replace IAS 1 Presentation of
Financial Statements
Regarding standards and interpretations not yet
mandatorily effective it is expected that IFRS 18 will have
a significant impact on the Group affecting periods on or
after 01 January 2027. The Group are still in the process
of assessing the full impact of the new standard,
particularly with respect to the structure of the Group\u2019s
Statement of profit or Loss, the Statement of Cash Flows
and the additional disclosures required for management
defined performance measures. The Group is also
assessing the impact on how information is grouped in
the financial statements, including for items currently
labelled as other.
Revenue Recognition
The Group generates substantially all of its revenues from
the technology and data processing fees and service
fees that it charges to accommodation providers. The
Group also generates revenues from advertising services.
Revenue is recognised at the time the reservation is
made in respect of non-refundable commission on the
basis that the Group has met its performance obligations
having provided the technology and data processing
service at the time the booking is made. In respect of
the free cancellation product, which offers the traveller
the opportunity to make a booking on a free cancellation
basis and to receive a refund of their deposit in certain
circumstances, such related revenue is not recognised
until the last cancellation date has passed as one party
can withdraw from the contract until such a date has
passed, at which point the Group will have met its
performance obligation.
Where the Group provides an ancillary service to allow
a flexible booking option which allows a booking to be
cancelled for no charge or a new booking to be made,
such revenue is deferred, until such time as the related
check-in date has passed or for a six-month period from
the date of cancellation, at which time the credit expires.
Where credits are granted to customers for utilisation on
future bookings, a provision is recorded against revenue
based on the probability that a credit offering will be
used by a customer.
Ancillary advertising and property management
technology revenues (Counter) are recognised over the
period when the service is performed as the Group\u2019s
performance obligation is met over time. Royalties and
commission amounts earned from the \u201c
Roamies
\u201d revenue
streams are recognised on the trip\u2019s start date, when
the Group\u2019s performance obligations are met. Revenue
is measured at the fair value of the consideration
received or receivable.
Revenue is stated net of rebates, sales taxes and value
added taxes. Rebates relate to volume incentive rebates
offered to hostel partners. Recognition of rebates have
limited judgement and are recognised based on
performance targets for the previous quarters trading
volumes measured at midnight on the closing day of
a quarter and settled within the following quarter.
Leases
The Group leases properties across a number of
locations. Rental contracts are typically made for fixed
periods but may have an option to extend. Lease terms
are negotiated on an individual basis and contain a wide
range of different terms and conditions.
At inception of a contract, the Group assesses whether
a contract is or contains a lease. For contracts where the
Group is a lessee, a right-of-use asset is recognised,
representing the Group\u2019s right to use the underlying asset
and a lease liability is also recognised for the Group\u2019s
obligation to make lease payments during the lease term.
The lease term of each contract is determined as the
non-cancellable period of the lease, together with any
periods covered by an option to extend the lease if it
is reasonably certain to be exercised, or any periods
covered by an option to terminate the lease (break
option), if it is reasonably certain not to exercise that
option. For short term leases (defined as leases with a
lease term of 12 months or less) and leases of low value
assets (defined as leases with an underlying asset value
of \u20ac10,000 or less), the Group recognises the lease
payments as an operating expense on a straight-line
basis over the term of the lease.
The right-of-use asset is initially measured at cost
and subsequently valued at cost less accumulated
depreciation and impairment losses. It is adjusted
where a lease modification results in a remeasurement
of the lease liability.
Right-of-use assets are depreciated over the shorter
period of lease term and useful life of the underlying
asset. The depreciation starts at the commencement
date of the lease.
Whenever the Group incurs an obligation to restore the
underlying asset to the condition required by the terms
and conditions of the lease, a provision is recognised and
measured under IAS 37. To the extent that the costs
relate to a right-of-use asset, the costs are included in
the related right-of-use asset.
The carrying value of these assets are reviewed at the
end of each reporting period to determine whether
there is any indication that the assets have suffered an
impairment loss. The Group applies IAS 36 to determine
whether a right-of-use asset is impaired and accounts
for any identified impairment loss.
Lease liabilities are measured at the present value of
the future lease payments. The lease payments are
discounted using the implicit interest rate in the lease,
or where this cannot readily be determined the Group
uses the Group\u2019s incremental borrowing rate. The
incremental borrowing rate depends on the term,
currency and start date of the lease and is determined
based on a series of inputs including: the risk-free rate
based on government bond rates; a country-specific
risk adjustment and a credit risk adjustment based on
bond yields. Subsequently the lease liability is increased
to reflect interest on the lease liability and reduced for
payments made. The lease liability is remeasured for
lease modifications or reassessments.
Lease payments included in the measurement of the
lease liability comprise: (i) fixed lease payments less any
lease incentives receivable; (ii) variable lease payments
that depend on an index or rate, initially measured using
the index or rate at the commencement date; (iii) the
amount expected to be payable by the lessee under
residual value guarantees; (iv) the exercise price of
purchase options, if the lessee is reasonably certain
to exercise the options; and (v) payments of penalties
for terminating the lease, if the lease term reflects the
exercise of an option to terminate the lease.
The lease liability is presented as a separate line in the
consolidated Statement of Financial Position. The lease
liability is subsequently measured by increasing the
carrying amount to reflect interest on the lease liability
(using the effective interest method) and by reducing the
carrying amount to reflect the lease payments made.
The Group re-measures the lease liability (and makes
a corresponding adjustment to the related right-of-use
asset) whenever: (i) the lease term has changed or
there is a significant event or change in circumstances
resulting in a change in the assessment of exercise of a
purchase option, in which case the lease liability is
re-measured by discounting the revised lease payments
using a revised discount rate; (ii) the lease payments
change due to changes in an index or rate or a change
in expected payment under a guaranteed residual value,
in which cases the lease liability is remeasured by
discounting the revised lease payments using an
unchanged discount rate or (iii) a lease contract is
modified and the lease modification is not accounted
for as a separate lease, in which case the lease liability
is remeasured based on the lease term of the modified
lease by discounting the revised lease payments
using a revised discount rate at the effective date of
the modification.
Cash paid on the interest portion of a lease liability is
included as part of operating activities in the Consolidated
Cash Flow Statement and cash payments for the
principal portion of a lease liability are included as part
of financing activities. Payments in relation to short term
leases and leases of low value assets that do not meet
the criteria to be capitalised under IFRS 16 are included
as part of operating activities in the Consolidated Cash
Flow Statement.
Exceptional Items
Exceptional items by their nature and size can make
interpretation of the underlying trends in the business
more difficult. Such items may include restructuring,
material merger and acquisition costs, profit or loss on
disposal or termination of operations, litigation settlements,
legislative changes, material acquisition integration costs
and profit or loss on disposal of investments. Judgement
is used by the Group in assessing the particular items
which by virtue of their scale and nature should be
disclosed as exceptional items. Where an item that has
been classified as exceptional spans more than one
reporting period such as a multi-year restructuring
programme, it will also be presented as exceptional in
the following period for consistency of presentation.
Taxation
The Group is tax resident in Ireland. The tax expense
represents the sum of the tax currently payable and
deferred tax.
Current Tax
The tax currently payable is based on taxable profit for
the period. Taxable profit differs from net profit as
reported in the Consolidated Income Statement because
it excludes items of income or expense that are taxable
or deductible in other years and it further excludes items
that are never taxable or deductible. The Group\u2019s liability
for current tax is calculated using tax rates that have
been enacted or substantively enacted by the reporting
date, and any adjustment to tax payable in respect of
previous years.
A provision is recognised for those matters for which
the tax determination is uncertain, but it is considered
probable that there will be a future outflow of funds to
a tax authority. The provisions are measured at the best
estimate of the amount expected to become payable.
The assessment is based on the judgement of tax
professionals within the Company supported by previous
experience in respect of such activities and in certain
cases based on specialist independent tax advice.
Deferred Tax
Deferred tax is the tax expected to be payable or
recoverable on 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 and is accounted for using the liability
method. Deferred tax liabilities are generally recognised
for all taxable temporary differences and deferred tax
assets are recognised for unused tax losses, unused
tax credits and deductible temporary differences to the
extent that it is probable future taxable profits will be
available against which the temporary difference can
be utilised.
Deferred tax liabilities are recognised for taxable
temporary differences arising on investments in
subsidiaries and associates, except where the Group is
able to control the reversal of the temporary difference
and it is probable that the temporary difference will not
reverse in the foreseeable future. Deferred tax assets
arising from deductible temporary differences associated
with such investments and interests are only recognised
to the extent that it is probable that there will be sufficient
taxable profits against which to utilise the benefits of the
temporary differences and they are expected to reverse
in the foreseeable future.
The carrying amount of deferred tax assets is reviewed
at each reporting date 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.
Such reductions are reversed when the probability of
future taxable profits improves.
Deferred tax assets and liabilities are offset when there
is a legally enforceable right to set off current tax assets
against current liabilities and when they relate to income
taxes levied by the same taxation authority and the Group
intends to settle its current tax assets and liabilities on
a net basis.
Deferred tax is calculated at the tax rates that are
expected to apply in the period when the liability is settled,
or the asset is realised based on tax laws and rates
that have been enacted or substantively enacted at the
balance sheet date. Deferred tax is charged or credited
in the consolidated income statement, except when it
relates to items charged or credited directly to equity, in
which case the deferred tax is also dealt with in equity.
Foreign Currencies
The individual financial statements of each Group
Company are presented in the currency of the primary
economic environment in which it operates (its functional
currency). For the purpose of the consolidated
financial statements, the results and financial position
of each Group Company are expressed in euro, which
is the functional currency of the parent Company
and the presentation currency for the consolidated
financial statements.
In preparing the financial statements of the individual
companies, transactions in currencies other than the
entity\u2019s functional currency (foreign currencies) are
recorded at the rates of exchange prevailing on the
dates of the transactions. At each reporting date,
monetary assets and liabilities denominated in foreign
currencies are retranslated at the rates prevailing on
the reporting date.
Non-monetary items (including deferred revenue)
carried at fair value that are denominated in foreign
currencies are translated at the rates prevailing at the
date when the fair value was determined in accordance
with IFRIC 22. Non-monetary items that are measured
in terms of historical cost in a foreign currency are
not retranslated.
Exchange differences arising on the settlement of
monetary items, and on the retranslation of monetary
items, are included in the Consolidated Income Statement
and Consolidated Statement of Comprehensive Income
for the period. For the purpose of presenting consolidated
financial statements, the assets and liabilities of the
Group\u2019s operations are translated at exchange rates
prevailing on the reporting date. Income and expense
items are translated at the average exchange rates for
the period, unless exchange rates fluctuate significantly
during that period, in which case the exchange rates at
the date of transactions are used. Exchange differences
arising, if any, are classified as equity and transferred
to the Group\u2019s foreign currency translation reserve.
Goodwill and fair value adjustments arising on the
acquisition of a foreign entity are treated as assets
and liabilities of the foreign entity and translated at the
closing rate. Exchange differences arising are recognised
in other comprehensive income.
Retirement Benefits Costs
The Group operates a defined contribution pension
scheme. Contributions made in respect of employees\u2019
pension schemes are charged through the Consolidated
Income Statement in the period they become payable.
The Group pays contributions to privately administered
pension insurance plans. The Group has no further
payment obligations once the contributions have been
paid. The contributions are recognised as employee
benefit expense when they are due. Prepaid contributions
are recognised as an asset to the extent that a cash
refund or a reduction in the future payments is available.
Intangible Assets
Goodwill
Goodwill is initially measured as the excess of the cost
of the business combination over the Group\u2019s interest
in the net fair value of the identifiable assets, liabilities
and contingent liabilities of the acquired subsidiary or
associate. Identifiable intangible assets, meeting either
the contractual-legal or separability criterion are
recognised separately from goodwill.
Goodwill on acquisition of subsidiaries is included
within intangible assets. Goodwill associated with the
acquisition of associates is included within the interest
in associates under the equity method of accounting.
Following initial recognition, goodwill is measured at
cost less any accumulated impairment losses.
Goodwill is reviewed for impairment annually or more
frequently if events or changes in circumstances
indicated that the carrying value may be impaired.
For the purposes of impairment testing, goodwill is
allocated to the Group\u2019s single Cash-Generating Unit
(\u201cCGU\u201d) that is expected to benefit from the synergies
of the combination.
If the recoverable amount of the cash-generating unit
is less than its carrying amount, the impairment loss is
allocated first to reduce the carrying amount of any
goodwill allocated to the unit and then to the other assets
of the unit on a pro-rata basis based on the carrying
amount of each asset in the unit. Any impairment loss
for goodwill is recognised directly in profit or loss in
the consolidated income statement. An impairment
loss recognised for goodwill is not reversed in
subsequent periods.
Other Intangible Assets
The Group has four classes of other intangible assets:
domain names, technology assets, affiliate contracts
and development costs. Other intangible assets are
capitalised at cost and amortised to operating expenses
before impairment in the Consolidated Income Statement
on a straight-line basis over their estimated useful lives:
Domain names
5\u201315 years
Technology
4 years
Affiliate contracts
5 years
Capitalised development costs
2\u20135 years
\n
a) Domain names
Domain names relate to certain domain names,
trademarks and technology assets which are carried at
cost less accumulated amortisation and are amortised
over their useful life. Technology assets here include the
website, app interfaces and application programming
interfaces (\u201cAPIs\u201d) that allow applications to interface
with databases, which collectively form the underlying
integrated Hostelworld Platform.
b) Technology
Technology assets relates to certain computer software
applications stated at cost less accumulated amortisation.
Costs incurred on the acquisition of computer software
are capitalised, as are costs directly associated with
developing computer software programmes for internal
use, if they meet the recognition criteria of IAS 38
\u2018Intangible Assets\u2019.
c) Affiliate contracts
Affiliate contracts refers to contracts established with
certain affiliate partners whose function is to promote
the website and app. These contracts were identified
as a separately identifiable asset in line with IAS 38
\u2018Intangible Assets\u2019 which allow affiliates to get real time
access to property, pricing and availability function
through affiliate APIs.
d) Development expenditure
Expenditure on research activities is recognised as an
expense in the period in which it is incurred. Development
expenditure in relation to internally-generated intangible
assets is capitalised when all of the following have been
demonstrated; the technical feasibility of completing the
intangible asset so that it will be available for use; the
intention to complete the project to which the intangible
asset relates and to use it or sell it; the ability to use
or sell the intangible asset, how the intangible asset
will generate probable future economic benefits; the
availability of adequate technical, financial and other
resources to complete the development and to use the
intangible asset; and the ability to measure reliably the
expenditure attributable to the intangible asset during
its development.
Development activities involve a plan or design for the
production of new or substantially improved products or
processes. Directly attributable costs that are capitalised
as part of the software product, website or system
include employee costs. Other development expenditures
that do not meet these criteria as well as ongoing
maintenance are recognised as an expense as incurred.
Development costs are amortised using the straight-line
method over their estimated useful lives. Amortisation
commences once the asset is in use, or where the
development activity is part of a multi-phase project,
where a particular phase is in use. An intangible asset is
derecognised on disposal or when no future economic
benefits are expected to arise from the continued use
or disposal of the asset. The gain or loss arising on the
disposal of an asset is recognised in the Consolidated
Income Statement when the asset is derecognised.
The residual value associated with all intangible assets
is deemed to be \u20acnil.
Impairment of Tangible and Intangible Assets
Other than Goodwill
At the end of each reporting period, the Directors review
the carrying amounts of the Group\u2019s tangible and
intangible assets to determine whether there is any
indication that those assets have suffered an impairment
loss. If any such indication exists, the recoverable
amount of the asset is estimated in order to determine
the extent of the impairment loss (if any). Where it is
not possible to estimate the recoverable amount of an
individual asset, the Directors estimate the recoverable
amount of our cash-generating unit as a whole.
Intangible assets with indefinite useful lives and intangible
assets not yet available for use are tested for impairment
at least annually, and whenever there is an indication
that the asset may be impaired.
Recoverable amount is the higher of fair value less costs
of disposal and value in use. In assessing value in use,
the estimated future cash flows are discounted to their
present value using a pre-tax discount rate that reflects
current market assessments of the time value of money
and the risks specific to the asset. If the recoverable
amount of an asset (or the cash-generating unit) is
estimated to be less than its carrying amount, the
carrying amount of the asset (or the cash-generating
unit) is reduced to its recoverable amount. An impairment
loss is recognised immediately in profit or loss, unless
the relevant asset is carried at a revalued amount,
in which case the impairment loss is treated as a
revaluation decrease.
Where an impairment loss subsequently reverses, the
carrying amount of the asset (or the cash-generating
unit) is increased to the revised estimate of its recoverable
amount. The increased carrying amount cannot exceed
the carrying amount that would have been determined
had no impairment loss been recognised for the asset
(or the cash-generating unit) in prior years. Additionally,
a reversal is only recognised in respect of the impairment
of non-goodwill assets within the cash-generating unit.
A reversal of an impairment loss is recognised
immediately in profit or loss, unless the relevant asset is
carried at a revalued amount, in which case the reversal
of the impairment loss is treated as a revaluation increase.
Financial Instruments
Financial assets and financial liabilities are recognised in
the Group\u2019s Consolidated Statement of Financial Position
when the Group becomes a party to the contractual
provisions of the instrument.
Financial assets and liabilities are initially measured
at fair value plus transaction costs, except for those
classified as fair value through profit or loss, which are
initially measured at fair value. The fair value of financial
assets and liabilities denominated in a foreign currency
is determined in that foreign currency and translated at
the spot rate at the end of the reporting period.
(a)
Financial Assets
Trade and Other Receivables
Trade and other receivables are stated initially at their
transaction price and subsequently at amortised cost,
less any expected credit loss (\u201cECL\u201d) provision. The
Group applies the simplified approach to measuring
ECLs which uses a lifetime ECL allowance for all
trade receivables.
(b)
Expected Credit Loss of Financial Assets
The Group always recognises lifetime ECLs for trade
receivables estimated using a provision matrix based
on the Group\u2019s historical credit loss experience,
adjusted for factors that are specific to the debtors,
general economic conditions and an assessment of
both the current as well as the forecast direction of
conditions at the reporting date, including time value
of money where appropriate.
Lifetime ECLs represents the ECLs that will result from all
possible default events over the expected life of a financial
instrument. ECLs are reported in the Consolidated
Income Statement. An event of default occurs where
there is failure by a debtor to fulfil an obligation and
there is no likely recourse available. For example, if
a hostel has gone out of business.
(c)
Financial Liabilities
Trade and Other Payables
Trade and other payables are initially recorded at fair
value, which is usually the original invoiced amount, and
subsequently carried at amortised cost. Liabilities are
derecognised when the obligation under the liability is
discharged, cancelled or expires.
Loans and Borrowings
All loans and borrowings are initially recognised at
fair value of the proceeds received less any directly
attributable transaction costs. Transaction costs include
fees and commission paid to agents, advisers brokers
and dealers. After initial recognition, interest-bearing
loans and borrowings are subsequently measured at
amortised cost using the effective interest method being
the amount at which the financial liability is measured at
initial recognition minus any principal repayments, plus
or minus the cumulative amortisation using the effective
interest method of any difference between that initial
amount and the maturity amount. Borrowings are
de-recognised when the Group\u2019s obligations specified
in the contracts expire, are discharged or cancelled.
Borrowings are classified as current or non-current,
dependent on the rights that exist at the end of the
reporting period. Borrowings are classified as current
liabilities unless the Group has the right to defer
settlement of the liability for at least 12 months after
the reporting date.
Other Financial Liabilities
Financial liabilities are recognised initially at fair value
and are subsequently stated at amortised cost using
the effective interest method. The effective interest
method is a method for calculating the amortised cost
of a financial liability and of allocating interest expense
over the relevant period. The effective interest rate is
the rate that exactly discounts estimated future cash
payments through the expected life of the financial
liability to the amortised cost of a financial liability.
Financial liabilities are classified as current liabilities
unless the Group has the right to defer settlement of
the liability for at least 12 months after the reporting
date. The Directors determine the classification of the
Group\u2019s financial liabilities at initial recognition.
(d)
Cash and Cash Equivalents
Cash and cash equivalents include cash in hand, deposits
held at call with banks and other short-term highly liquid
investments with original maturities of three months or
less. Restricted cash and cash equivalent balances are
those which meet the definition of cash and cash
equivalents but are not available for use by the Group,
including those which are under contractual restriction.
Dividends
Final dividends are recorded in the Group\u2019s financial
statements in the period in which they are approved
by the Company\u2019s shareholders. Interim dividends are
recorded in the period in which they are paid.
Share-Based Payments
Equity settled share-based payments to employees are
measured at the fair value of the equity instruments at
the grant date. The fair value excludes the effect of
non-market-based vesting conditions. Details regarding
the determination of the fair value of equity-settled
share-based transactions are set out in note 24.
The fair value determined at the grant date of the
equity-settled share-based payments is expensed on a
straight-line basis over the vesting period, based on the
Group\u2019s estimate of equity instruments that will eventually
vest. At each reporting date, the Group revises its
estimate of the number of equity instruments expected to
vest as a result of the effect of non-market-based vesting
conditions. The impact of the revision of the original
estimates, if any, is recognised in the Consolidated
Income Statement such that the cumulative expense
reflects the revised estimate, with a corresponding
adjustment to the share-based payment reserve.
For cash settled share-based payments, a liability is
recognised for the services acquired, measured initially
at the fair value of the liability. At each reporting date
until the liability is settled, and at the date of settlement,
the fair value of the liability is re-measured, with any
changes in fair value recognised in the Consolidated
Income Statement for the year.
In assessing any modification of employee share-based
payment transactions, the Group assesses if the change
in the terms and conditions has an effect on the amount
recognised which depends on whether the fair value of
the new instruments is greater than the fair value of the
original instruments. Modifications that increase the fair
value of the grant result in recognition of the incremental
fair value measured at the date of modification.
Earnings Per Share
The Group presents basic and diluted earnings per
share (\u201cEPS\u201d) data for its ordinary shares. Basic EPS is
calculated by dividing the profit attributable to ordinary
shareholders by the weighted average number of
ordinary shares outstanding during the period. Diluted
earnings per share is computed by adjusting the weighted
average number of ordinary shares in issue to assume
conversion of all potential dilutive ordinary shares.", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00236": { "value": "General Information
Hostelworld Group plc, hereinafter \u201cthe Company\u201d, is a
public limited company domiciled in Ireland, incorporated
in the United Kingdom on the 09 October 2015 under
the Companies Act 2006 and is registered in England
and Wales. The registered office of the Company is
One Chamberlain Square, Birmingham, B3 3AX,
United Kingdom.
The Company and its subsidiaries (together \u201cthe Group\u201d)
provide software and data processing services that
facilitate hostel, B&B, hotel and other accommodation
bookings worldwide.
The Company\u2019s shares are quoted on Euronext Dublin
and the London Stock Exchange.
The Company and consolidated financial statements
were approved and authorised for issue by the Board
of Directors on 19 March 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00167": { "value": "Hostelworld Group plc", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00164": { "value": "Hostelworld Group plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00172": { "value": "public limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00171": { "value": "Ireland", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00168": { "value": "United Kingdom", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00166": { "value": "One Chamberlain Square, Birmingham, B3 3AX, United Kingdom.", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00169": { "value": "software and data processing services that
facilitate hostel, B&B, hotel and other accommodation
bookings worldwide.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00165": { "value": "worldwide", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00237": { "value": "The Company and consolidated financial statements
were approved and authorised for issue by the Board
of Directors on 19 March 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00238": { "value": "Going Concern
The Directors, after due consideration and review of the
Board approved 2025 budget and two-year outlook,
and further two years of management projections, and
having made enquiries, have a reasonable expectation
that the Group has adequate resources to continue
operating as a going concern for the foreseeable future,
at least 12 months from the date of approval of the
financial statements. In their review of the budget and
outlook the Directors referred to the Group\u2019s strategy,
the Group\u2019s Risk Register and current and anticipated
trading volumes. The Directors considered mitigating
actions available to the Group should trading volumes
not materialise including the flexibility of the Group to
fully control its largest cost base direct marketing, and
management\u2019s ability to protect margin should the
Group experience a downside in trading.
In addition to the base budget for 2025, the Directors also
considered two additional scenarios that were designed
to stress the budget and outlook prepared. An extreme
downside scenario considered no growth in booking
volumes year-on-year, no uplift to average booking
values and bed prices year-on-year and an increase in
marketing costs as a % of generated revenue instead of
assuming any further efficiencies being obtained within
marketing. The Directors also considered a stressed
scenario of reduced booking volumes in Europe (-2%),
the Group's largest market. Under both scenarios,
although profitability is impacted, the Group had sufficient
cash reserves available to remain a going concern.
In their review, the Directors took account of cash flow
forecasts prepared for 12 months from 19 March 2025
based upon the Board approved budget and outlook
and in their assessment took into account the
repayment of the Group\u2019s external bank debt in 2024,
the repayment plan in place with the Revenue
Commissioners to repay the remaining warehoused
facility in monthly instalments from now to April 2027
and the current and anticipated levels of cash.
At this point in time, the consequences of the current
unrest in Ukraine and in Gaza remains uncertain. The
Group has not experienced a significant impact to
revenue during 2024, and management continue to
monitor any development in the conflict, and the impact
to the Group closely. No revenue has been budgeted for
these countries in 2025. In addition, we have performed
an assessment of the impact of climate risk, as part of
the Director\u2019s assessment of the viability of the Group
with further detail set out on page 73.
Based upon the factors considered above, the Directors
are satisfied that the Group and Company has sufficient
resources to continue in operation for the foreseeable
future, a period of not less than 12 months from the
date of this report. Accordingly, they continue to
adopt the going concern basis in preparing the Group
financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00249": { "value": "Basis of Preparation
The financial statements have been prepared in
conformity with the requirements of the Companies Act
2006 and UK adopted International Financial Reporting
Standards (\u201cIFRS\u201d) and IFRS adopted pursuant to
Regulation (\u201cEC\u201d) No 1606/2002 as it applies in the
European Union.
The consolidated financial statements also comply with
Article 4 of the EU IAS Regulation. References to IFRS
hereafter refer to UK adopted IFRS and IFRS adopted
by the EU.
The consolidated financial statements have been
prepared under the historical cost basis. The investment
in associate is accounted for using the equity method.
In the preparation of these consolidated financial
statements the accounting policies set out below have
been applied consistently by all Group companies.
The consolidated financial statements are presented
in euro which is the currency of the primary economic
environment in which the Group operates.
The Group has changed the presentation of its
consolidated financial statements from amounts
presented in thousands (\u20ac\u2019000) to millions
(\u20acm) effective
from the financial year ended 31 December 2024. This
change reflects the Group\u2019s return to normalised trading
volumes post COVID-19 in the prior year, making the
presentation in millions more appropriate for providing
clearer and more relevant financial information to the
users. The change in presentation has been applied
retrospectively for all comparative information included
in these financial statements to ensure consistency
and comparability.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00250": { "value": "The financial statements have been prepared in
conformity with the requirements of the Companies Act
2006 and UK adopted International Financial Reporting
Standards (\u201cIFRS\u201d) and IFRS adopted pursuant to
Regulation (\u201cEC\u201d) No 1606/2002 as it applies in the
European Union.
The consolidated financial statements also comply with
Article 4 of the EU IAS Regulation. References to IFRS
hereafter refer to UK adopted IFRS and IFRS adopted
by the EU.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00251": { "value": "In the preparation of these consolidated financial
statements the accounting policies set out below have
been applied consistently by all Group companies.
The consolidated financial statements are presented
in euro which is the currency of the primary economic
environment in which the Group operates. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00257": { "value": "The Group has changed the presentation of its
consolidated financial statements from amounts
presented in thousands (\u20ac\u2019000) to millions
(\u20acm) effective
from the financial year ended 31 December 2024. This
change reflects the Group\u2019s return to normalised trading
volumes post COVID-19 in the prior year, making the
presentation in millions more appropriate for providing
clearer and more relevant financial information to the
users. The change in presentation has been applied
retrospectively for all comparative information included
in these financial statements to ensure consistency
and comparability.", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00261": { "value": "Climate Related Matters
The Group have taken account of climate related matters
in its financial statements. Operating costs in 2024, and
the 2025 budget and two-year outlook, and further
two years of management projections, incorporate
any operating costs relating to our sustainability
roadmap, namely the personnel required to support on
commitments and targets in place, as well as the cost
of any current and future emission reductions and
investments in climate action projects. Following an
assessment completed by management in 2024, the
Group have not identified any cause for any other liability,
provision or impairment of any assets because of its
review of climate related matters, and further have not
identified any in future projections.
Climate related risks can impact our revenue and trading
for factors such as a customer may not want to travel,
a hostel may be forced to close, or an area is not
accessible. The risk is somewhat mitigated as our
target 18-34
-year-old population typically view travel
as a \u2018rite of passage\u2019 and staying in hostels is a more
sustainable way of travelling compared to other
accommodation types. In addition, our target customers
have proven in their booking patterns that they are
flexible. If they are unable to travel to a particular location,
we have evidence from studying historic booking
behaviours that demand moves elsewhere. These factors
are considered in detail in our Sustainability Report set
out on pages 42 to 61. The budget does not include
any adjustments to revenue for climate change, and we
will monitor the impact climate change may have on
booking demand closely. The Group\u2019s business model
allows for flexibility, through being asset light, which
means the Group can respond quickly to changes in
customer demand if a matter arises.
The Group\u2019s consideration of climate-related matters in
estimates and assumptions includes the following areas:
\u2022
Impairment of assets:
Future expected cashflows may
be impacted by reducing revenue projections driven
by changes in consumer demand and increasing
costs. To offset this uncertainty, the Group have
significant headroom in its goodwill and intangible
asset impairment reviews outlined in the sensitivity
analysis disclosed on page 186.
\u2022
Deferred tax asset recoverability:
Taxable profits
and whether the Group has sufficient future taxable
income may be impacted by changes in consumer
demand and increasing costs. To offset this
uncertainty, the Group have headroom in its deferred
tax recoverability assessments as outlined in the
sensitivity analysis disclosed on page 179, and the
primary basis of the benefit the Group has from
historic trading losses and timing differences does
not expire.
\u2022
Going concern:
Future expected cashflows
underpinning going concern may be impacted
by reduced revenue and profit projections driven
by consumer demand and increasing costs. Any
downside impact to bookings as a result of climate
change are considered in the downside scenarios
detailed in the Directors assessment of going concern
set out on page 169, with a further assessment
included within our Viability Statement set out in
the strategic report on page 73. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEnvironmentRelatedExpenseExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00260": { "value": "Basis of Consolidation
Subsidiaries
The consolidated financial statements incorporate
the financial statements of the Company and entities
controlled by the Company (its subsidiaries) all of which
prepare financial statements up to 31 December.
Control is achieved when the Company has the power
over the investee, is exposed, or has rights, to variable
return from its investment with the investee and has the
ability to use its power to affect its returns. The financial
statements of subsidiaries are included in the
consolidated financial statements from the date that
control commences until the date that control ceases.
All intragroup assets and liabilities, equity, income,
expenses and cash flows relating to transactions
between the members of the Group are eliminated on
consolidation. Unrealised losses are also eliminated,
except where they provide evidence of impairment.
Associates
Associates are entities over which the Group has
significant influence but not control, generally
accompanying a shareholding of between 20% and 50%
of the voting rights. Significant influence is the power to
participate in the financial and operating policy decisions
of the investee but is not control over those policies.
Investments in associates are accounted for using the
equity method of accounting and are initially recognised
at cost. On acquisition of the investment in associate, any
excess of the cost of the investment over the Group\u2019s
share of the net fair value of the identifiable assets and
liabilities of the investee is recognised as goodwill, which
is included within the carrying value of the investment.
The Group\u2019s share of its associates\u2019 post-acquisition
profits or losses is recognised in \u2018share of results of
associate\u2019 in the consolidated income statement, and
its share of post-acquisition movements in reserves is
recognised in the Consolidated Statement of Changes in
Equity. The cumulative post-acquisition movements are
adjusted against the carrying amount of the investment,
less any impairment in value. Where indicators of
impairment arise, the carrying amount of the associate
is tested for impairment by comparing its recoverable
amount with its carrying amount.
The requirements of IAS 36 are applied to determine
whether it is necessary to recognise any impairment loss
with respect to the Group\u2019s investment in an associate.
When necessary, the entire carrying amount of the
investment (including goodwill) is tested for impairment
in accordance with IAS 36 as a single asset by comparing
its recoverable amount (higher of value in use and fair
value less costs of disposal) with its carrying amount.
Any impairments in value are recognised in the
consolidated income statement. Any impairment loss
recognised is not allocated to any asset, including
goodwill that forms part of the carrying amount of the
investment. Any reversal of that impairment loss is
recognised in accordance with IAS 36 to the extent
that the recoverable amount of the investment
subsequently increases.
Unrealised gains arising from transactions with associates
are eliminated to the extent of the Group\u2019s interest in the
entity. Unrealised losses are eliminated to the extent that
they do not provide evidence of impairment. When the
Group\u2019s share of losses in an associate equals or exceeds
its interest in the associate, the Group does not recognise
further losses unless the Group has incurred obligations
or made payments on behalf of the associate. The
accounting policies of associates are amended where
necessary to ensure consistency of accounting
treatment at Group level.
When the Group ceases to have significant influence,
any retained interest in the entity is re-measured to its
fair value at the date when significant influence is lost
with the change in carrying amount recognised in
the consolidated income statement. The Group also
reclassifies any movements previously recognised
in other comprehensive income to the consolidated
income statement.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00262": { "value": "Subsidiaries
The consolidated financial statements incorporate
the financial statements of the Company and entities
controlled by the Company (its subsidiaries) all of which
prepare financial statements up to 31 December.
Control is achieved when the Company has the power
over the investee, is exposed, or has rights, to variable
return from its investment with the investee and has the
ability to use its power to affect its returns. The financial
statements of subsidiaries are included in the
consolidated financial statements from the date that
control commences until the date that control ceases.
All intragroup assets and liabilities, equity, income,
expenses and cash flows relating to transactions
between the members of the Group are eliminated on
consolidation. Unrealised losses are also eliminated,
except where they provide evidence of impairment.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00263": { "value": "Associates
Associates are entities over which the Group has
significant influence but not control, generally
accompanying a shareholding of between 20% and 50%
of the voting rights. Significant influence is the power to
participate in the financial and operating policy decisions
of the investee but is not control over those policies.
Investments in associates are accounted for using the
equity method of accounting and are initially recognised
at cost. On acquisition of the investment in associate, any
excess of the cost of the investment over the Group\u2019s
share of the net fair value of the identifiable assets and
liabilities of the investee is recognised as goodwill, which
is included within the carrying value of the investment.
The Group\u2019s share of its associates\u2019 post-acquisition
profits or losses is recognised in \u2018share of results of
associate\u2019 in the consolidated income statement, and
its share of post-acquisition movements in reserves is
recognised in the Consolidated Statement of Changes in
Equity. The cumulative post-acquisition movements are
adjusted against the carrying amount of the investment,
less any impairment in value. Where indicators of
impairment arise, the carrying amount of the associate
is tested for impairment by comparing its recoverable
amount with its carrying amount.
The requirements of IAS 36 are applied to determine
whether it is necessary to recognise any impairment loss
with respect to the Group\u2019s investment in an associate.
When necessary, the entire carrying amount of the
investment (including goodwill) is tested for impairment
in accordance with IAS 36 as a single asset by comparing
its recoverable amount (higher of value in use and fair
value less costs of disposal) with its carrying amount.
Any impairments in value are recognised in the
consolidated income statement. Any impairment loss
recognised is not allocated to any asset, including
goodwill that forms part of the carrying amount of the
investment. Any reversal of that impairment loss is
recognised in accordance with IAS 36 to the extent
that the recoverable amount of the investment
subsequently increases.
Unrealised gains arising from transactions with associates
are eliminated to the extent of the Group\u2019s interest in the
entity. Unrealised losses are eliminated to the extent that
they do not provide evidence of impairment. When the
Group\u2019s share of losses in an associate equals or exceeds
its interest in the associate, the Group does not recognise
further losses unless the Group has incurred obligations
or made payments on behalf of the associate. The
accounting policies of associates are amended where
necessary to ensure consistency of accounting
treatment at Group level.
When the Group ceases to have significant influence,
any retained interest in the entity is re-measured to its
fair value at the date when significant influence is lost
with the change in carrying amount recognised in
the consolidated income statement. The Group also
reclassifies any movements previously recognised
in other comprehensive income to the consolidated
income statement.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00264": { "value": "Associates
Associates are entities over which the Group has
significant influence but not control, generally
accompanying a shareholding of between 20% and 50%
of the voting rights. Significant influence is the power to
participate in the financial and operating policy decisions
of the investee but is not control over those policies.
Investments in associates are accounted for using the
equity method of accounting and are initially recognised
at cost. On acquisition of the investment in associate, any
excess of the cost of the investment over the Group\u2019s
share of the net fair value of the identifiable assets and
liabilities of the investee is recognised as goodwill, which
is included within the carrying value of the investment.
The Group\u2019s share of its associates\u2019 post-acquisition
profits or losses is recognised in \u2018share of results of
associate\u2019 in the consolidated income statement, and
its share of post-acquisition movements in reserves is
recognised in the Consolidated Statement of Changes in
Equity. The cumulative post-acquisition movements are
adjusted against the carrying amount of the investment,
less any impairment in value. Where indicators of
impairment arise, the carrying amount of the associate
is tested for impairment by comparing its recoverable
amount with its carrying amount.
The requirements of IAS 36 are applied to determine
whether it is necessary to recognise any impairment loss
with respect to the Group\u2019s investment in an associate.
When necessary, the entire carrying amount of the
investment (including goodwill) is tested for impairment
in accordance with IAS 36 as a single asset by comparing
its recoverable amount (higher of value in use and fair
value less costs of disposal) with its carrying amount.
Any impairments in value are recognised in the
consolidated income statement. Any impairment loss
recognised is not allocated to any asset, including
goodwill that forms part of the carrying amount of the
investment. Any reversal of that impairment loss is
recognised in accordance with IAS 36 to the extent
that the recoverable amount of the investment
subsequently increases.
Unrealised gains arising from transactions with associates
are eliminated to the extent of the Group\u2019s interest in the
entity. Unrealised losses are eliminated to the extent that
they do not provide evidence of impairment. When the
Group\u2019s share of losses in an associate equals or exceeds
its interest in the associate, the Group does not recognise
further losses unless the Group has incurred obligations
or made payments on behalf of the associate. The
accounting policies of associates are amended where
necessary to ensure consistency of accounting
treatment at Group level.
When the Group ceases to have significant influence,
any retained interest in the entity is re-measured to its
fair value at the date when significant influence is lost
with the change in carrying amount recognised in
the consolidated income statement. The Group also
reclassifies any movements previously recognised
in other comprehensive income to the consolidated
income statement.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00266": { "value": "New Standards, Amendments and Interpretations
Issued and Adopted by the Group in 2024:
The following changes to IFRS became effective for
the Group during the year but did not result in material
changes to the Group\u2019s consolidated financial statements:
\u2022
Amendments to IAS 1 Presentation of
Financial Statements:
\u2013
Classification of Liabilities as Current or
Non-current Date
\u2013
Non-current Liabilities with Covenants
\u2022
Lease Liability in a Sale and Leaseback
(Amendments to IFRS 16)
\u2022
Amendments to IAS 7 Statement of Cash Flows and
IFRS 7 Financial Instruments: Disclosures: Supplier
Finance Arrangements", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00175": { "value": "New Standards, Amendments and Interpretations
Issued and Adopted by the Group in 2024:
The following changes to IFRS became effective for
the Group during the year but did not result in material
changes to the Group\u2019s consolidated financial statements:
\u2022
Amendments to IAS 1 Presentation of
Financial Statements:
\u2013
Classification of Liabilities as Current or
Non-current Date
\u2013
Non-current Liabilities with Covenants
\u2022
Lease Liability in a Sale and Leaseback
(Amendments to IFRS 16)
\u2022
Amendments to IAS 7 Statement of Cash Flows and
IFRS 7 Financial Instruments: Disclosures: Supplier
Finance Arrangements", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00267": { "value": "New and Amended Standards and Interpretations
Not yet Mandatorily effective:
The Group has not applied certain new standards,
amendments and interpretations to existing standards
which are not yet mandatorily effective and have not yet
been endorsed by the UK or by the EU, in some instances:
\u2022
IFRS 19: Subsidiaries without Public
Accountability: Disclosures
\u2022
Amendments to IAS 21 The Effects of Changes in
Foreign Exchange Rates: Lack of Exchangeability
\u2022
Sale of Contribution of Assets between an Investor
and its Associate or Joint Venture (Amendments to
IFRS 10 and IAS 28)
\u2022
Amendments to the Classification and Measurement
of Financial Instruments (Amendments to IFRS 9
and IFRS 7)
\u2022
IFRS 18: Presentation and Disclosure in Financial
Statements will replace IAS 1 Presentation of
Financial Statements
Regarding standards and interpretations not yet
mandatorily effective it is expected that IFRS 18 will have
a significant impact on the Group affecting periods on or
after 01 January 2027. The Group are still in the process
of assessing the full impact of the new standard,
particularly with respect to the structure of the Group\u2019s
Statement of profit or Loss, the Statement of Cash Flows
and the additional disclosures required for management
defined performance measures. The Group is also
assessing the impact on how information is grouped in
the financial statements, including for items currently
labelled as other.", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00269": { "value": "Revenue Recognition
The Group generates substantially all of its revenues from
the technology and data processing fees and service
fees that it charges to accommodation providers. The
Group also generates revenues from advertising services.
Revenue is recognised at the time the reservation is
made in respect of non-refundable commission on the
basis that the Group has met its performance obligations
having provided the technology and data processing
service at the time the booking is made. In respect of
the free cancellation product, which offers the traveller
the opportunity to make a booking on a free cancellation
basis and to receive a refund of their deposit in certain
circumstances, such related revenue is not recognised
until the last cancellation date has passed as one party
can withdraw from the contract until such a date has
passed, at which point the Group will have met its
performance obligation.
Where the Group provides an ancillary service to allow
a flexible booking option which allows a booking to be
cancelled for no charge or a new booking to be made,
such revenue is deferred, until such time as the related
check-in date has passed or for a six-month period from
the date of cancellation, at which time the credit expires.
Where credits are granted to customers for utilisation on
future bookings, a provision is recorded against revenue
based on the probability that a credit offering will be
used by a customer.
Ancillary advertising and property management
technology revenues (Counter) are recognised over the
period when the service is performed as the Group\u2019s
performance obligation is met over time. Royalties and
commission amounts earned from the \u201c
Roamies
\u201d revenue
streams are recognised on the trip\u2019s start date, when
the Group\u2019s performance obligations are met. Revenue
is measured at the fair value of the consideration
received or receivable.
Revenue is stated net of rebates, sales taxes and value
added taxes. Rebates relate to volume incentive rebates
offered to hostel partners. Recognition of rebates have
limited judgement and are recognised based on
performance targets for the previous quarters trading
volumes measured at midnight on the closing day of
a quarter and settled within the following quarter.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradingIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00268": { "value": "Revenue Recognition
The Group generates substantially all of its revenues from
the technology and data processing fees and service
fees that it charges to accommodation providers. The
Group also generates revenues from advertising services.
Revenue is recognised at the time the reservation is
made in respect of non-refundable commission on the
basis that the Group has met its performance obligations
having provided the technology and data processing
service at the time the booking is made. In respect of
the free cancellation product, which offers the traveller
the opportunity to make a booking on a free cancellation
basis and to receive a refund of their deposit in certain
circumstances, such related revenue is not recognised
until the last cancellation date has passed as one party
can withdraw from the contract until such a date has
passed, at which point the Group will have met its
performance obligation.
Where the Group provides an ancillary service to allow
a flexible booking option which allows a booking to be
cancelled for no charge or a new booking to be made,
such revenue is deferred, until such time as the related
check-in date has passed or for a six-month period from
the date of cancellation, at which time the credit expires.
Where credits are granted to customers for utilisation on
future bookings, a provision is recorded against revenue
based on the probability that a credit offering will be
used by a customer.
Ancillary advertising and property management
technology revenues (Counter) are recognised over the
period when the service is performed as the Group\u2019s
performance obligation is met over time. Royalties and
commission amounts earned from the \u201c
Roamies
\u201d revenue
streams are recognised on the trip\u2019s start date, when
the Group\u2019s performance obligations are met. Revenue
is measured at the fair value of the consideration
received or receivable.
Revenue is stated net of rebates, sales taxes and value
added taxes. Rebates relate to volume incentive rebates
offered to hostel partners. Recognition of rebates have
limited judgement and are recognised based on
performance targets for the previous quarters trading
volumes measured at midnight on the closing day of
a quarter and settled within the following quarter.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00270": { "value": "Revenue is stated net of rebates, sales taxes and value
added taxes. Rebates relate to volume incentive rebates
offered to hostel partners. Recognition of rebates have
limited judgement and are recognised based on
performance targets for the previous quarters trading
volumes measured at midnight on the closing day of
a quarter and settled within the following quarter.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00271": { "value": "Leases
The Group leases properties across a number of
locations. Rental contracts are typically made for fixed
periods but may have an option to extend. Lease terms
are negotiated on an individual basis and contain a wide
range of different terms and conditions.
At inception of a contract, the Group assesses whether
a contract is or contains a lease. For contracts where the
Group is a lessee, a right-of-use asset is recognised,
representing the Group\u2019s right to use the underlying asset
and a lease liability is also recognised for the Group\u2019s
obligation to make lease payments during the lease term.
The lease term of each contract is determined as the
non-cancellable period of the lease, together with any
periods covered by an option to extend the lease if it
is reasonably certain to be exercised, or any periods
covered by an option to terminate the lease (break
option), if it is reasonably certain not to exercise that
option. For short term leases (defined as leases with a
lease term of 12 months or less) and leases of low value
assets (defined as leases with an underlying asset value
of \u20ac10,000 or less), the Group recognises the lease
payments as an operating expense on a straight-line
basis over the term of the lease.
The right-of-use asset is initially measured at cost
and subsequently valued at cost less accumulated
depreciation and impairment losses. It is adjusted
where a lease modification results in a remeasurement
of the lease liability.
Right-of-use assets are depreciated over the shorter
period of lease term and useful life of the underlying
asset. The depreciation starts at the commencement
date of the lease.
Whenever the Group incurs an obligation to restore the
underlying asset to the condition required by the terms
and conditions of the lease, a provision is recognised and
measured under IAS 37. To the extent that the costs
relate to a right-of-use asset, the costs are included in
the related right-of-use asset.
The carrying value of these assets are reviewed at the
end of each reporting period to determine whether
there is any indication that the assets have suffered an
impairment loss. The Group applies IAS 36 to determine
whether a right-of-use asset is impaired and accounts
for any identified impairment loss.
Lease liabilities are measured at the present value of
the future lease payments. The lease payments are
discounted using the implicit interest rate in the lease,
or where this cannot readily be determined the Group
uses the Group\u2019s incremental borrowing rate. The
incremental borrowing rate depends on the term,
currency and start date of the lease and is determined
based on a series of inputs including: the risk-free rate
based on government bond rates; a country-specific
risk adjustment and a credit risk adjustment based on
bond yields. Subsequently the lease liability is increased
to reflect interest on the lease liability and reduced for
payments made. The lease liability is remeasured for
lease modifications or reassessments.
Lease payments included in the measurement of the
lease liability comprise: (i) fixed lease payments less any
lease incentives receivable; (ii) variable lease payments
that depend on an index or rate, initially measured using
the index or rate at the commencement date; (iii) the
amount expected to be payable by the lessee under
residual value guarantees; (iv) the exercise price of
purchase options, if the lessee is reasonably certain
to exercise the options; and (v) payments of penalties
for terminating the lease, if the lease term reflects the
exercise of an option to terminate the lease.
The lease liability is presented as a separate line in the
consolidated Statement of Financial Position. The lease
liability is subsequently measured by increasing the
carrying amount to reflect interest on the lease liability
(using the effective interest method) and by reducing the
carrying amount to reflect the lease payments made.
The Group re-measures the lease liability (and makes
a corresponding adjustment to the related right-of-use
asset) whenever: (i) the lease term has changed or
there is a significant event or change in circumstances
resulting in a change in the assessment of exercise of a
purchase option, in which case the lease liability is
re-measured by discounting the revised lease payments
using a revised discount rate; (ii) the lease payments
change due to changes in an index or rate or a change
in expected payment under a guaranteed residual value,
in which cases the lease liability is remeasured by
discounting the revised lease payments using an
unchanged discount rate or (iii) a lease contract is
modified and the lease modification is not accounted
for as a separate lease, in which case the lease liability
is remeasured based on the lease term of the modified
lease by discounting the revised lease payments
using a revised discount rate at the effective date of
the modification.
Cash paid on the interest portion of a lease liability is
included as part of operating activities in the Consolidated
Cash Flow Statement and cash payments for the
principal portion of a lease liability are included as part
of financing activities. Payments in relation to short term
leases and leases of low value assets that do not meet
the criteria to be capitalised under IFRS 16 are included
as part of operating activities in the Consolidated Cash
Flow Statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00272": { "value": "Right-of-use assets are depreciated over the shorter
period of lease term and useful life of the underlying
asset. The depreciation starts at the commencement
date of the lease.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00273": { "value": "Exceptional Items
Exceptional items by their nature and size can make
interpretation of the underlying trends in the business
more difficult. Such items may include restructuring,
material merger and acquisition costs, profit or loss on
disposal or termination of operations, litigation settlements,
legislative changes, material acquisition integration costs
and profit or loss on disposal of investments. Judgement
is used by the Group in assessing the particular items
which by virtue of their scale and nature should be
disclosed as exceptional items. Where an item that has
been classified as exceptional spans more than one
reporting period such as a multi-year restructuring
programme, it will also be presented as exceptional in
the following period for consistency of presentation.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExceptionalItemsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00274": { "value": "Taxation
The Group is tax resident in Ireland. The tax expense
represents the sum of the tax currently payable and
deferred tax.
Current Tax
The tax currently payable is based on taxable profit for
the period. Taxable profit differs from net profit as
reported in the Consolidated Income Statement because
it excludes items of income or expense that are taxable
or deductible in other years and it further excludes items
that are never taxable or deductible. The Group\u2019s liability
for current tax is calculated using tax rates that have
been enacted or substantively enacted by the reporting
date, and any adjustment to tax payable in respect of
previous years.
A provision is recognised for those matters for which
the tax determination is uncertain, but it is considered
probable that there will be a future outflow of funds to
a tax authority. The provisions are measured at the best
estimate of the amount expected to become payable.
The assessment is based on the judgement of tax
professionals within the Company supported by previous
experience in respect of such activities and in certain
cases based on specialist independent tax advice.
Deferred Tax
Deferred tax is the tax expected to be payable or
recoverable on 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 and is accounted for using the liability
method. Deferred tax liabilities are generally recognised
for all taxable temporary differences and deferred tax
assets are recognised for unused tax losses, unused
tax credits and deductible temporary differences to the
extent that it is probable future taxable profits will be
available against which the temporary difference can
be utilised.
Deferred tax liabilities are recognised for taxable
temporary differences arising on investments in
subsidiaries and associates, except where the Group is
able to control the reversal of the temporary difference
and it is probable that the temporary difference will not
reverse in the foreseeable future. Deferred tax assets
arising from deductible temporary differences associated
with such investments and interests are only recognised
to the extent that it is probable that there will be sufficient
taxable profits against which to utilise the benefits of the
temporary differences and they are expected to reverse
in the foreseeable future.
The carrying amount of deferred tax assets is reviewed
at each reporting date 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.
Such reductions are reversed when the probability of
future taxable profits improves.
Deferred tax assets and liabilities are offset when there
is a legally enforceable right to set off current tax assets
against current liabilities and when they relate to income
taxes levied by the same taxation authority and the Group
intends to settle its current tax assets and liabilities on
a net basis.
Deferred tax is calculated at the tax rates that are
expected to apply in the period when the liability is settled,
or the asset is realised based on tax laws and rates
that have been enacted or substantively enacted at the
balance sheet date. Deferred tax is charged or credited
in the consolidated income statement, except when it
relates to items charged or credited directly to equity, in
which case the deferred tax is also dealt with in equity. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00275": { "value": "Deferred Tax
Deferred tax is the tax expected to be payable or
recoverable on 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 and is accounted for using the liability
method. Deferred tax liabilities are generally recognised
for all taxable temporary differences and deferred tax
assets are recognised for unused tax losses, unused
tax credits and deductible temporary differences to the
extent that it is probable future taxable profits will be
available against which the temporary difference can
be utilised.
Deferred tax liabilities are recognised for taxable
temporary differences arising on investments in
subsidiaries and associates, except where the Group is
able to control the reversal of the temporary difference
and it is probable that the temporary difference will not
reverse in the foreseeable future. Deferred tax assets
arising from deductible temporary differences associated
with such investments and interests are only recognised
to the extent that it is probable that there will be sufficient
taxable profits against which to utilise the benefits of the
temporary differences and they are expected to reverse
in the foreseeable future.
The carrying amount of deferred tax assets is reviewed
at each reporting date 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.
Such reductions are reversed when the probability of
future taxable profits improves.
Deferred tax assets and liabilities are offset when there
is a legally enforceable right to set off current tax assets
against current liabilities and when they relate to income
taxes levied by the same taxation authority and the Group
intends to settle its current tax assets and liabilities on
a net basis.
Deferred tax is calculated at the tax rates that are
expected to apply in the period when the liability is settled,
or the asset is realised based on tax laws and rates
that have been enacted or substantively enacted at the
balance sheet date. Deferred tax is charged or credited
in the consolidated income statement, except when it
relates to items charged or credited directly to equity, in
which case the deferred tax is also dealt with in equity.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00276": { "value": "Foreign Currencies
The individual financial statements of each Group
Company are presented in the currency of the primary
economic environment in which it operates (its functional
currency). For the purpose of the consolidated
financial statements, the results and financial position
of each Group Company are expressed in euro, which
is the functional currency of the parent Company
and the presentation currency for the consolidated
financial statements.
In preparing the financial statements of the individual
companies, transactions in currencies other than the
entity\u2019s functional currency (foreign currencies) are
recorded at the rates of exchange prevailing on the
dates of the transactions. At each reporting date,
monetary assets and liabilities denominated in foreign
currencies are retranslated at the rates prevailing on
the reporting date.
Non-monetary items (including deferred revenue)
carried at fair value that are denominated in foreign
currencies are translated at the rates prevailing at the
date when the fair value was determined in accordance
with IFRIC 22. Non-monetary items that are measured
in terms of historical cost in a foreign currency are
not retranslated.
Exchange differences arising on the settlement of
monetary items, and on the retranslation of monetary
items, are included in the Consolidated Income Statement
and Consolidated Statement of Comprehensive Income
for the period. For the purpose of presenting consolidated
financial statements, the assets and liabilities of the
Group\u2019s operations are translated at exchange rates
prevailing on the reporting date. Income and expense
items are translated at the average exchange rates for
the period, unless exchange rates fluctuate significantly
during that period, in which case the exchange rates at
the date of transactions are used. Exchange differences
arising, if any, are classified as equity and transferred
to the Group\u2019s foreign currency translation reserve.
Goodwill and fair value adjustments arising on the
acquisition of a foreign entity are treated as assets
and liabilities of the foreign entity and translated at the
closing rate. Exchange differences arising are recognised
in other comprehensive income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00277": { "value": "Retirement Benefits Costs
The Group operates a defined contribution pension
scheme. Contributions made in respect of employees\u2019
pension schemes are charged through the Consolidated
Income Statement in the period they become payable.
The Group pays contributions to privately administered
pension insurance plans. The Group has no further
payment obligations once the contributions have been
paid. The contributions are recognised as employee
benefit expense when they are due. Prepaid contributions
are recognised as an asset to the extent that a cash
refund or a reduction in the future payments is available.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00279": { "value": "Intangible Assets
Goodwill
Goodwill is initially measured as the excess of the cost
of the business combination over the Group\u2019s interest
in the net fair value of the identifiable assets, liabilities
and contingent liabilities of the acquired subsidiary or
associate. Identifiable intangible assets, meeting either
the contractual-legal or separability criterion are
recognised separately from goodwill.
Goodwill on acquisition of subsidiaries is included
within intangible assets. Goodwill associated with the
acquisition of associates is included within the interest
in associates under the equity method of accounting.
Following initial recognition, goodwill is measured at
cost less any accumulated impairment losses.
Goodwill is reviewed for impairment annually or more
frequently if events or changes in circumstances
indicated that the carrying value may be impaired.
For the purposes of impairment testing, goodwill is
allocated to the Group\u2019s single Cash-Generating Unit
(\u201cCGU\u201d) that is expected to benefit from the synergies
of the combination.
If the recoverable amount of the cash-generating unit
is less than its carrying amount, the impairment loss is
allocated first to reduce the carrying amount of any
goodwill allocated to the unit and then to the other assets
of the unit on a pro-rata basis based on the carrying
amount of each asset in the unit. Any impairment loss
for goodwill is recognised directly in profit or loss in
the consolidated income statement. An impairment
loss recognised for goodwill is not reversed in
subsequent periods.
Other Intangible Assets
The Group has four classes of other intangible assets:
domain names, technology assets, affiliate contracts
and development costs. Other intangible assets are
capitalised at cost and amortised to operating expenses
before impairment in the Consolidated Income Statement
on a straight-line basis over their estimated useful lives:
Domain names
5\u201315 years
Technology
4 years
Affiliate contracts
5 years
Capitalised development costs
2\u20135 years
\n
a) Domain names
Domain names relate to certain domain names,
trademarks and technology assets which are carried at
cost less accumulated amortisation and are amortised
over their useful life. Technology assets here include the
website, app interfaces and application programming
interfaces (\u201cAPIs\u201d) that allow applications to interface
with databases, which collectively form the underlying
integrated Hostelworld Platform.
b) Technology
Technology assets relates to certain computer software
applications stated at cost less accumulated amortisation.
Costs incurred on the acquisition of computer software
are capitalised, as are costs directly associated with
developing computer software programmes for internal
use, if they meet the recognition criteria of IAS 38
\u2018Intangible Assets\u2019.
c) Affiliate contracts
Affiliate contracts refers to contracts established with
certain affiliate partners whose function is to promote
the website and app. These contracts were identified
as a separately identifiable asset in line with IAS 38
\u2018Intangible Assets\u2019 which allow affiliates to get real time
access to property, pricing and availability function
through affiliate APIs.
d) Development expenditure
Expenditure on research activities is recognised as an
expense in the period in which it is incurred. Development
expenditure in relation to internally-generated intangible
assets is capitalised when all of the following have been
demonstrated; the technical feasibility of completing the
intangible asset so that it will be available for use; the
intention to complete the project to which the intangible
asset relates and to use it or sell it; the ability to use
or sell the intangible asset, how the intangible asset
will generate probable future economic benefits; the
availability of adequate technical, financial and other
resources to complete the development and to use the
intangible asset; and the ability to measure reliably the
expenditure attributable to the intangible asset during
its development.
Development activities involve a plan or design for the
production of new or substantially improved products or
processes. Directly attributable costs that are capitalised
as part of the software product, website or system
include employee costs. Other development expenditures
that do not meet these criteria as well as ongoing
maintenance are recognised as an expense as incurred.
Development costs are amortised using the straight-line
method over their estimated useful lives. Amortisation
commences once the asset is in use, or where the
development activity is part of a multi-phase project,
where a particular phase is in use. An intangible asset is
derecognised on disposal or when no future economic
benefits are expected to arise from the continued use
or disposal of the asset. The gain or loss arising on the
disposal of an asset is recognised in the Consolidated
Income Statement when the asset is derecognised.
The residual value associated with all intangible assets
is deemed to be \u20acnil.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00280": { "value": "Goodwill
Goodwill is initially measured as the excess of the cost
of the business combination over the Group\u2019s interest
in the net fair value of the identifiable assets, liabilities
and contingent liabilities of the acquired subsidiary or
associate. Identifiable intangible assets, meeting either
the contractual-legal or separability criterion are
recognised separately from goodwill.
Goodwill on acquisition of subsidiaries is included
within intangible assets. Goodwill associated with the
acquisition of associates is included within the interest
in associates under the equity method of accounting.
Following initial recognition, goodwill is measured at
cost less any accumulated impairment losses.
Goodwill is reviewed for impairment annually or more
frequently if events or changes in circumstances
indicated that the carrying value may be impaired.
For the purposes of impairment testing, goodwill is
allocated to the Group\u2019s single Cash-Generating Unit
(\u201cCGU\u201d) that is expected to benefit from the synergies
of the combination.
If the recoverable amount of the cash-generating unit
is less than its carrying amount, the impairment loss is
allocated first to reduce the carrying amount of any
goodwill allocated to the unit and then to the other assets
of the unit on a pro-rata basis based on the carrying
amount of each asset in the unit. Any impairment loss
for goodwill is recognised directly in profit or loss in
the consolidated income statement. An impairment
loss recognised for goodwill is not reversed in
subsequent periods.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00265": { "value": "Goodwill
Goodwill is initially measured as the excess of the cost
of the business combination over the Group\u2019s interest
in the net fair value of the identifiable assets, liabilities
and contingent liabilities of the acquired subsidiary or
associate. Identifiable intangible assets, meeting either
the contractual-legal or separability criterion are
recognised separately from goodwill.
Goodwill on acquisition of subsidiaries is included
within intangible assets. Goodwill associated with the
acquisition of associates is included within the interest
in associates under the equity method of accounting.
Following initial recognition, goodwill is measured at
cost less any accumulated impairment losses.
Goodwill is reviewed for impairment annually or more
frequently if events or changes in circumstances
indicated that the carrying value may be impaired.
For the purposes of impairment testing, goodwill is
allocated to the Group\u2019s single Cash-Generating Unit
(\u201cCGU\u201d) that is expected to benefit from the synergies
of the combination.
If the recoverable amount of the cash-generating unit
is less than its carrying amount, the impairment loss is
allocated first to reduce the carrying amount of any
goodwill allocated to the unit and then to the other assets
of the unit on a pro-rata basis based on the carrying
amount of each asset in the unit. Any impairment loss
for goodwill is recognised directly in profit or loss in
the consolidated income statement. An impairment
loss recognised for goodwill is not reversed in
subsequent periods.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00281": { "value": "Other Intangible Assets
The Group has four classes of other intangible assets:
domain names, technology assets, affiliate contracts
and development costs. Other intangible assets are
capitalised at cost and amortised to operating expenses
before impairment in the Consolidated Income Statement
on a straight-line basis over their estimated useful lives:
Domain names
5\u201315 years
Technology
4 years
Affiliate contracts
5 years
Capitalised development costs
2\u20135 years
\n
a) Domain names
Domain names relate to certain domain names,
trademarks and technology assets which are carried at
cost less accumulated amortisation and are amortised
over their useful life. Technology assets here include the
website, app interfaces and application programming
interfaces (\u201cAPIs\u201d) that allow applications to interface
with databases, which collectively form the underlying
integrated Hostelworld Platform.
b) Technology
Technology assets relates to certain computer software
applications stated at cost less accumulated amortisation.
Costs incurred on the acquisition of computer software
are capitalised, as are costs directly associated with
developing computer software programmes for internal
use, if they meet the recognition criteria of IAS 38
\u2018Intangible Assets\u2019.
c) Affiliate contracts
Affiliate contracts refers to contracts established with
certain affiliate partners whose function is to promote
the website and app. These contracts were identified
as a separately identifiable asset in line with IAS 38
\u2018Intangible Assets\u2019 which allow affiliates to get real time
access to property, pricing and availability function
through affiliate APIs.
d) Development expenditure
Expenditure on research activities is recognised as an
expense in the period in which it is incurred. Development
expenditure in relation to internally-generated intangible
assets is capitalised when all of the following have been
demonstrated; the technical feasibility of completing the
intangible asset so that it will be available for use; the
intention to complete the project to which the intangible
asset relates and to use it or sell it; the ability to use
or sell the intangible asset, how the intangible asset
will generate probable future economic benefits; the
availability of adequate technical, financial and other
resources to complete the development and to use the
intangible asset; and the ability to measure reliably the
expenditure attributable to the intangible asset during
its development.
Development activities involve a plan or design for the
production of new or substantially improved products or
processes. Directly attributable costs that are capitalised
as part of the software product, website or system
include employee costs. Other development expenditures
that do not meet these criteria as well as ongoing
maintenance are recognised as an expense as incurred.
Development costs are amortised using the straight-line
method over their estimated useful lives. Amortisation
commences once the asset is in use, or where the
development activity is part of a multi-phase project,
where a particular phase is in use. An intangible asset is
derecognised on disposal or when no future economic
benefits are expected to arise from the continued use
or disposal of the asset. The gain or loss arising on the
disposal of an asset is recognised in the Consolidated
Income Statement when the asset is derecognised.
The residual value associated with all intangible assets
is deemed to be \u20acnil.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00278": { "value": "d) Development expenditure
Expenditure on research activities is recognised as an
expense in the period in which it is incurred. Development
expenditure in relation to internally-generated intangible
assets is capitalised when all of the following have been
demonstrated; the technical feasibility of completing the
intangible asset so that it will be available for use; the
intention to complete the project to which the intangible
asset relates and to use it or sell it; the ability to use
or sell the intangible asset, how the intangible asset
will generate probable future economic benefits; the
availability of adequate technical, financial and other
resources to complete the development and to use the
intangible asset; and the ability to measure reliably the
expenditure attributable to the intangible asset during
its development. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00283": { "value": "Impairment of Tangible and Intangible Assets
Other than Goodwill
At the end of each reporting period, the Directors review
the carrying amounts of the Group\u2019s tangible and
intangible assets to determine whether there is any
indication that those assets have suffered an impairment
loss. If any such indication exists, the recoverable
amount of the asset is estimated in order to determine
the extent of the impairment loss (if any). Where it is
not possible to estimate the recoverable amount of an
individual asset, the Directors estimate the recoverable
amount of our cash-generating unit as a whole.
Intangible assets with indefinite useful lives and intangible
assets not yet available for use are tested for impairment
at least annually, and whenever there is an indication
that the asset may be impaired.
Recoverable amount is the higher of fair value less costs
of disposal and value in use. In assessing value in use,
the estimated future cash flows are discounted to their
present value using a pre-tax discount rate that reflects
current market assessments of the time value of money
and the risks specific to the asset. If the recoverable
amount of an asset (or the cash-generating unit) is
estimated to be less than its carrying amount, the
carrying amount of the asset (or the cash-generating
unit) is reduced to its recoverable amount. An impairment
loss is recognised immediately in profit or loss, unless
the relevant asset is carried at a revalued amount,
in which case the impairment loss is treated as a
revaluation decrease.
Where an impairment loss subsequently reverses, the
carrying amount of the asset (or the cash-generating
unit) is increased to the revised estimate of its recoverable
amount. The increased carrying amount cannot exceed
the carrying amount that would have been determined
had no impairment loss been recognised for the asset
(or the cash-generating unit) in prior years. Additionally,
a reversal is only recognised in respect of the impairment
of non-goodwill assets within the cash-generating unit.
A reversal of an impairment loss is recognised
immediately in profit or loss, unless the relevant asset is
carried at a revalued amount, in which case the reversal
of the impairment loss is treated as a revaluation increase. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00282": { "value": "Impairment of Tangible and Intangible Assets
Other than Goodwill
At the end of each reporting period, the Directors review
the carrying amounts of the Group\u2019s tangible and
intangible assets to determine whether there is any
indication that those assets have suffered an impairment
loss. If any such indication exists, the recoverable
amount of the asset is estimated in order to determine
the extent of the impairment loss (if any). Where it is
not possible to estimate the recoverable amount of an
individual asset, the Directors estimate the recoverable
amount of our cash-generating unit as a whole.
Intangible assets with indefinite useful lives and intangible
assets not yet available for use are tested for impairment
at least annually, and whenever there is an indication
that the asset may be impaired.
Recoverable amount is the higher of fair value less costs
of disposal and value in use. In assessing value in use,
the estimated future cash flows are discounted to their
present value using a pre-tax discount rate that reflects
current market assessments of the time value of money
and the risks specific to the asset. If the recoverable
amount of an asset (or the cash-generating unit) is
estimated to be less than its carrying amount, the
carrying amount of the asset (or the cash-generating
unit) is reduced to its recoverable amount. An impairment
loss is recognised immediately in profit or loss, unless
the relevant asset is carried at a revalued amount,
in which case the impairment loss is treated as a
revaluation decrease.
Where an impairment loss subsequently reverses, the
carrying amount of the asset (or the cash-generating
unit) is increased to the revised estimate of its recoverable
amount. The increased carrying amount cannot exceed
the carrying amount that would have been determined
had no impairment loss been recognised for the asset
(or the cash-generating unit) in prior years. Additionally,
a reversal is only recognised in respect of the impairment
of non-goodwill assets within the cash-generating unit.
A reversal of an impairment loss is recognised
immediately in profit or loss, unless the relevant asset is
carried at a revalued amount, in which case the reversal
of the impairment loss is treated as a revaluation increase. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00284": { "value": "Financial Instruments
Financial assets and financial liabilities are recognised in
the Group\u2019s Consolidated Statement of Financial Position
when the Group becomes a party to the contractual
provisions of the instrument.
Financial assets and liabilities are initially measured
at fair value plus transaction costs, except for those
classified as fair value through profit or loss, which are
initially measured at fair value. The fair value of financial
assets and liabilities denominated in a foreign currency
is determined in that foreign currency and translated at
the spot rate at the end of the reporting period.
(a)
Financial Assets
Trade and Other Receivables
Trade and other receivables are stated initially at their
transaction price and subsequently at amortised cost,
less any expected credit loss (\u201cECL\u201d) provision. The
Group applies the simplified approach to measuring
ECLs which uses a lifetime ECL allowance for all
trade receivables.
(b)
Expected Credit Loss of Financial Assets
The Group always recognises lifetime ECLs for trade
receivables estimated using a provision matrix based
on the Group\u2019s historical credit loss experience,
adjusted for factors that are specific to the debtors,
general economic conditions and an assessment of
both the current as well as the forecast direction of
conditions at the reporting date, including time value
of money where appropriate.
Lifetime ECLs represents the ECLs that will result from all
possible default events over the expected life of a financial
instrument. ECLs are reported in the Consolidated
Income Statement. An event of default occurs where
there is failure by a debtor to fulfil an obligation and
there is no likely recourse available. For example, if
a hostel has gone out of business.
(c)
Financial Liabilities
Trade and Other Payables
Trade and other payables are initially recorded at fair
value, which is usually the original invoiced amount, and
subsequently carried at amortised cost. Liabilities are
derecognised when the obligation under the liability is
discharged, cancelled or expires.
Loans and Borrowings
All loans and borrowings are initially recognised at
fair value of the proceeds received less any directly
attributable transaction costs. Transaction costs include
fees and commission paid to agents, advisers brokers
and dealers. After initial recognition, interest-bearing
loans and borrowings are subsequently measured at
amortised cost using the effective interest method being
the amount at which the financial liability is measured at
initial recognition minus any principal repayments, plus
or minus the cumulative amortisation using the effective
interest method of any difference between that initial
amount and the maturity amount. Borrowings are
de-recognised when the Group\u2019s obligations specified
in the contracts expire, are discharged or cancelled.
Borrowings are classified as current or non-current,
dependent on the rights that exist at the end of the
reporting period. Borrowings are classified as current
liabilities unless the Group has the right to defer
settlement of the liability for at least 12 months after
the reporting date.
Other Financial Liabilities
Financial liabilities are recognised initially at fair value
and are subsequently stated at amortised cost using
the effective interest method. The effective interest
method is a method for calculating the amortised cost
of a financial liability and of allocating interest expense
over the relevant period. The effective interest rate is
the rate that exactly discounts estimated future cash
payments through the expected life of the financial
liability to the amortised cost of a financial liability.
Financial liabilities are classified as current liabilities
unless the Group has the right to defer settlement of
the liability for at least 12 months after the reporting
date. The Directors determine the classification of the
Group\u2019s financial liabilities at initial recognition.
(d)
Cash and Cash Equivalents
Cash and cash equivalents include cash in hand, deposits
held at call with banks and other short-term highly liquid
investments with original maturities of three months or
less. Restricted cash and cash equivalent balances are
those which meet the definition of cash and cash
equivalents but are not available for use by the Group,
including those which are under contractual restriction.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00285": { "value": "Financial Instruments
Financial assets and financial liabilities are recognised in
the Group\u2019s Consolidated Statement of Financial Position
when the Group becomes a party to the contractual
provisions of the instrument.
Financial assets and liabilities are initially measured
at fair value plus transaction costs, except for those
classified as fair value through profit or loss, which are
initially measured at fair value. The fair value of financial
assets and liabilities denominated in a foreign currency
is determined in that foreign currency and translated at
the spot rate at the end of the reporting period.
(a)
Financial Assets
Trade and Other Receivables
Trade and other receivables are stated initially at their
transaction price and subsequently at amortised cost,
less any expected credit loss (\u201cECL\u201d) provision. The
Group applies the simplified approach to measuring
ECLs which uses a lifetime ECL allowance for all
trade receivables.
(b)
Expected Credit Loss of Financial Assets
The Group always recognises lifetime ECLs for trade
receivables estimated using a provision matrix based
on the Group\u2019s historical credit loss experience,
adjusted for factors that are specific to the debtors,
general economic conditions and an assessment of
both the current as well as the forecast direction of
conditions at the reporting date, including time value
of money where appropriate.
Lifetime ECLs represents the ECLs that will result from all
possible default events over the expected life of a financial
instrument. ECLs are reported in the Consolidated
Income Statement. An event of default occurs where
there is failure by a debtor to fulfil an obligation and
there is no likely recourse available. For example, if
a hostel has gone out of business.
(c)
Financial Liabilities
Trade and Other Payables
Trade and other payables are initially recorded at fair
value, which is usually the original invoiced amount, and
subsequently carried at amortised cost. Liabilities are
derecognised when the obligation under the liability is
discharged, cancelled or expires.
Loans and Borrowings
All loans and borrowings are initially recognised at
fair value of the proceeds received less any directly
attributable transaction costs. Transaction costs include
fees and commission paid to agents, advisers brokers
and dealers. After initial recognition, interest-bearing
loans and borrowings are subsequently measured at
amortised cost using the effective interest method being
the amount at which the financial liability is measured at
initial recognition minus any principal repayments, plus
or minus the cumulative amortisation using the effective
interest method of any difference between that initial
amount and the maturity amount. Borrowings are
de-recognised when the Group\u2019s obligations specified
in the contracts expire, are discharged or cancelled.
Borrowings are classified as current or non-current,
dependent on the rights that exist at the end of the
reporting period. Borrowings are classified as current
liabilities unless the Group has the right to defer
settlement of the liability for at least 12 months after
the reporting date.
Other Financial Liabilities
Financial liabilities are recognised initially at fair value
and are subsequently stated at amortised cost using
the effective interest method. The effective interest
method is a method for calculating the amortised cost
of a financial liability and of allocating interest expense
over the relevant period. The effective interest rate is
the rate that exactly discounts estimated future cash
payments through the expected life of the financial
liability to the amortised cost of a financial liability.
Financial liabilities are classified as current liabilities
unless the Group has the right to defer settlement of
the liability for at least 12 months after the reporting
date. The Directors determine the classification of the
Group\u2019s financial liabilities at initial recognition.
(d)
Cash and Cash Equivalents
Cash and cash equivalents include cash in hand, deposits
held at call with banks and other short-term highly liquid
investments with original maturities of three months or
less. Restricted cash and cash equivalent balances are
those which meet the definition of cash and cash
equivalents but are not available for use by the Group,
including those which are under contractual restriction.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00316": { "value": "(a)
Financial Assets
Trade and Other Receivables
Trade and other receivables are stated initially at their
transaction price and subsequently at amortised cost,
less any expected credit loss (\u201cECL\u201d) provision. The
Group applies the simplified approach to measuring
ECLs which uses a lifetime ECL allowance for all
trade receivables.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00317": { "value": "Trade and Other Receivables
Trade and other receivables are stated initially at their
transaction price and subsequently at amortised cost,
less any expected credit loss (\u201cECL\u201d) provision. The
Group applies the simplified approach to measuring
ECLs which uses a lifetime ECL allowance for all
trade receivables.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00318": { "value": "(c)
Financial Liabilities
Trade and Other Payables
Trade and other payables are initially recorded at fair
value, which is usually the original invoiced amount, and
subsequently carried at amortised cost. Liabilities are
derecognised when the obligation under the liability is
discharged, cancelled or expires.
Loans and Borrowings
All loans and borrowings are initially recognised at
fair value of the proceeds received less any directly
attributable transaction costs. Transaction costs include
fees and commission paid to agents, advisers brokers
and dealers. After initial recognition, interest-bearing
loans and borrowings are subsequently measured at
amortised cost using the effective interest method being
the amount at which the financial liability is measured at
initial recognition minus any principal repayments, plus
or minus the cumulative amortisation using the effective
interest method of any difference between that initial
amount and the maturity amount. Borrowings are
de-recognised when the Group\u2019s obligations specified
in the contracts expire, are discharged or cancelled.
Borrowings are classified as current or non-current,
dependent on the rights that exist at the end of the
reporting period. Borrowings are classified as current
liabilities unless the Group has the right to defer
settlement of the liability for at least 12 months after
the reporting date.
Other Financial Liabilities
Financial liabilities are recognised initially at fair value
and are subsequently stated at amortised cost using
the effective interest method. The effective interest
method is a method for calculating the amortised cost
of a financial liability and of allocating interest expense
over the relevant period. The effective interest rate is
the rate that exactly discounts estimated future cash
payments through the expected life of the financial
liability to the amortised cost of a financial liability.
Financial liabilities are classified as current liabilities
unless the Group has the right to defer settlement of
the liability for at least 12 months after the reporting
date. The Directors determine the classification of the
Group\u2019s financial liabilities at initial recognition.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00319": { "value": "Trade and Other Payables
Trade and other payables are initially recorded at fair
value, which is usually the original invoiced amount, and
subsequently carried at amortised cost. Liabilities are
derecognised when the obligation under the liability is
discharged, cancelled or expires.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00323": { "value": "Loans and Borrowings
All loans and borrowings are initially recognised at
fair value of the proceeds received less any directly
attributable transaction costs. Transaction costs include
fees and commission paid to agents, advisers brokers
and dealers. After initial recognition, interest-bearing
loans and borrowings are subsequently measured at
amortised cost using the effective interest method being
the amount at which the financial liability is measured at
initial recognition minus any principal repayments, plus
or minus the cumulative amortisation using the effective
interest method of any difference between that initial
amount and the maturity amount. Borrowings are
de-recognised when the Group\u2019s obligations specified
in the contracts expire, are discharged or cancelled.
Borrowings are classified as current or non-current,
dependent on the rights that exist at the end of the
reporting period. Borrowings are classified as current
liabilities unless the Group has the right to defer
settlement of the liability for at least 12 months after
the reporting date.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00320": { "value": "Loans and Borrowings
All loans and borrowings are initially recognised at
fair value of the proceeds received less any directly
attributable transaction costs. Transaction costs include
fees and commission paid to agents, advisers brokers
and dealers. After initial recognition, interest-bearing
loans and borrowings are subsequently measured at
amortised cost using the effective interest method being
the amount at which the financial liability is measured at
initial recognition minus any principal repayments, plus
or minus the cumulative amortisation using the effective
interest method of any difference between that initial
amount and the maturity amount. Borrowings are
de-recognised when the Group\u2019s obligations specified
in the contracts expire, are discharged or cancelled.
Borrowings are classified as current or non-current,
dependent on the rights that exist at the end of the
reporting period. Borrowings are classified as current
liabilities unless the Group has the right to defer
settlement of the liability for at least 12 months after
the reporting date.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00321": { "value": "Loans and Borrowings
All loans and borrowings are initially recognised at
fair value of the proceeds received less any directly
attributable transaction costs. Transaction costs include
fees and commission paid to agents, advisers brokers
and dealers. After initial recognition, interest-bearing
loans and borrowings are subsequently measured at
amortised cost using the effective interest method being
the amount at which the financial liability is measured at
initial recognition minus any principal repayments, plus
or minus the cumulative amortisation using the effective
interest method of any difference between that initial
amount and the maturity amount. Borrowings are
de-recognised when the Group\u2019s obligations specified
in the contracts expire, are discharged or cancelled.
Borrowings are classified as current or non-current,
dependent on the rights that exist at the end of the
reporting period. Borrowings are classified as current
liabilities unless the Group has the right to defer
settlement of the liability for at least 12 months after
the reporting date.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00322": { "value": "Loans and Borrowings
All loans and borrowings are initially recognised at
fair value of the proceeds received less any directly
attributable transaction costs. Transaction costs include
fees and commission paid to agents, advisers brokers
and dealers. After initial recognition, interest-bearing
loans and borrowings are subsequently measured at
amortised cost using the effective interest method being
the amount at which the financial liability is measured at
initial recognition minus any principal repayments, plus
or minus the cumulative amortisation using the effective
interest method of any difference between that initial
amount and the maturity amount. Borrowings are
de-recognised when the Group\u2019s obligations specified
in the contracts expire, are discharged or cancelled.
Borrowings are classified as current or non-current,
dependent on the rights that exist at the end of the
reporting period. Borrowings are classified as current
liabilities unless the Group has the right to defer
settlement of the liability for at least 12 months after
the reporting date.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00325": { "value": "(d)
Cash and Cash Equivalents
Cash and cash equivalents include cash in hand, deposits
held at call with banks and other short-term highly liquid
investments with original maturities of three months or
less. Restricted cash and cash equivalent balances are
those which meet the definition of cash and cash
equivalents but are not available for use by the Group,
including those which are under contractual restriction.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00324": { "value": "(d)
Cash and Cash Equivalents
Cash and cash equivalents include cash in hand, deposits
held at call with banks and other short-term highly liquid
investments with original maturities of three months or
less. Restricted cash and cash equivalent balances are
those which meet the definition of cash and cash
equivalents but are not available for use by the Group,
including those which are under contractual restriction.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00352": { "value": "Dividends
Final dividends are recorded in the Group\u2019s financial
statements in the period in which they are approved
by the Company\u2019s shareholders. Interim dividends are
recorded in the period in which they are paid.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00353": { "value": "Share-Based Payments
Equity settled share-based payments to employees are
measured at the fair value of the equity instruments at
the grant date. The fair value excludes the effect of
non-market-based vesting conditions. Details regarding
the determination of the fair value of equity-settled
share-based transactions are set out in note 24.
The fair value determined at the grant date of the
equity-settled share-based payments is expensed on a
straight-line basis over the vesting period, based on the
Group\u2019s estimate of equity instruments that will eventually
vest. At each reporting date, the Group revises its
estimate of the number of equity instruments expected to
vest as a result of the effect of non-market-based vesting
conditions. The impact of the revision of the original
estimates, if any, is recognised in the Consolidated
Income Statement such that the cumulative expense
reflects the revised estimate, with a corresponding
adjustment to the share-based payment reserve.
For cash settled share-based payments, a liability is
recognised for the services acquired, measured initially
at the fair value of the liability. At each reporting date
until the liability is settled, and at the date of settlement,
the fair value of the liability is re-measured, with any
changes in fair value recognised in the Consolidated
Income Statement for the year.
In assessing any modification of employee share-based
payment transactions, the Group assesses if the change
in the terms and conditions has an effect on the amount
recognised which depends on whether the fair value of
the new instruments is greater than the fair value of the
original instruments. Modifications that increase the fair
value of the grant result in recognition of the incremental
fair value measured at the date of modification.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00354": { "value": "Earnings Per Share
The Group presents basic and diluted earnings per
share (\u201cEPS\u201d) data for its ordinary shares. Basic EPS is
calculated by dividing the profit attributable to ordinary
shareholders by the weighted average number of
ordinary shares outstanding during the period. Diluted
earnings per share is computed by adjusting the weighted
average number of ordinary shares in issue to assume
conversion of all potential dilutive ordinary shares.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00176": { "value": "2.
Critical Accounting Judgements and
Key Sources of Estimation Uncertainty
In the application of the Group\u2019s accounting policies, the
Directors are required to make judgements (other than
those involving estimations) that have a significant
impact on the amounts recognised and to make
estimates and assumptions about the carrying amounts
of assets and liabilities that are not readily apparent
from other sources. The estimates and associated
assumptions are based on historical experience and
other factors considered relevant. Actual results may
differ from these estimates.
The estimates and underlying assumptions are reviewed
on an ongoing basis. Revisions to accounting estimates
are recognised in the year in which the estimate is
revised if the revision affects only that year, or in the year
of the revision and future years if the revision affects
both current and future years.
(a) Critical Judgements in Applying the
Group\u2019s Accounting Policies:
The following are the critical judgements, apart from
those involving estimations (which are presented
separately below), that the Directors have made in the
process of applying the Group\u2019s accounting policies and
that have the most significant effect on the amounts
recognised in financial statements.
Capitalisation of Development Costs
Development costs are capitalised when the criteria set
out in paragraph 57 of IAS 38 Intangible assets have
been demonstrated as disclosed in our accounting policy
disclosed on page 176 and 177. Total additions amounted
to \u20ac5.5 million (2023: \u20ac4.0 million) and carrying value of
the capitalised development asset at the balance sheet
date totalled \u20ac9.7 million (2023: \u20ac7.8 million).
Determining the amount to be capitalised requires
management to make judgements about each asset to
ensure that they meet the requirements of the standard.
Business cases have been prepared in line with our
Board approved 2025 budget and two-year outlook,
and further two years of management projections.
The primary projects capitalised in the current year
relate to new features within our social product and
modernising our legacy platforms which both form a
key part of the Group\u2019s growth strategy.
Should trading deteriorate significantly it is reasonably
possible within the next financial year that development
costs may require a material adjustment to their
carrying amount.
Accounting for Exceptional Items
Exceptional items by their nature and size can make
interpretation of the underlying trends in the business
more difficult. Judgement is used in assessing the
particular items which by virtue of their scale and nature
should be disclosed as exceptional items. Circumstances
that the Group believe would give rise to exceptional
items for separate disclosure are outlined in the
exceptional accounting policy on page 173. There were
no current year exceptional costs (2023: \u20ac3.8 million).
(b) Key Sources of Estimation Uncertainty:
The key assumptions concerning the future, and other
key sources of estimation uncertainty at the reporting
period that may have a significant risk of causing a
material adjustment to the carrying amounts of assets
and liabilities within the next financial year are
discussed below.
Recoverability of Deferred Tax Assets
At 31 December 2024 the carrying value of deferred tax
assets amounted to \u20ac13.8 million (2023: \u20ac15.5 million).
The recoverability of these deferred tax assets is
dependent upon the future profitability of the Group. The
recoverability assessment has been based upon Board
approved 2025 budget and two-year outlook, and further
two years of management projections, with appropriate
tax adjustments to accurately reflect the underlying
profit before tax against which deferred tax losses can
be utilised.
The Group does not have any binding fixed term contracts
in place which guarantee profitability, but prior to the
impact of COVID-19 the Group generated a profit after
tax each trading year since its IPO in 2015. In 2024 the
Group returned to a profit before tax of \u20ac11.1 million
(2023: loss of \u20ac1.1 million). The Group has forecasted
a growing profit in each year 2025 to 2029, driven by
growth in bookings and revenue, a declining marketing
cost as a % of revenue driven by its social strategy cost
discipline and nil interest costs as a result of exiting its
external debt facilities. Details of the business operations
expected to derive future profits are set out in the
strategic report on pages 10 to 83. Based on the
assessment performed there were no issues on the
recoverability of the deferred tax asset.
As part of our recoverability analysis, the Group has
performed a sensitivity analysis on taxable profits growth
over the next five years, to mirror the same cashflows
utilised for viability assessments and intangible asset
impairment reviews. A reduction in profits of 10% had no
impact on the recoverability of the deferred tax asset.
The Group\u2019s forecasted taxable profits would have to
decline by over 37% over the next five years before
there is a risk that the deferred tax asset is not fully
recovered in that period.
Carrying Value of Goodwill and Intangible Assets
The Directors assess annually whether goodwill has
suffered any impairment, in accordance with the relevant
accounting policy, and intangible assets are assessed for
possible impairment where indicators of impairment exist.
The recoverable amounts of our CGU is determined
based on the higher of fair value less costs of disposal
or value in use calculations. The carrying amount of
goodwill at 31 December 2024 amounted to \u20ac17.8 million
(2023: \u20ac17.8 million) and the carrying amount of domain
names amounted to \u20ac36.0 million (2023: \u20ac40.9 million).
Based on work performed and the headroom identified
in the model no impairment was deemed necessary
in 2024.
Management estimation is required in forecasting future
cash flows of the cash-generating unit including the
budgeting of future cash flows, the discount rates applied
to these cashflows, the expected long-term growth rate
of the business and terminal values. The area of
estimation of most risk relates to the certainty of
delivering the growth rates forecasted. Further details
on the assumptions used and sensitivity analysis are
set out in note 11.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00259": { "value": "2.
Critical Accounting Judgements and
Key Sources of Estimation Uncertainty
In the application of the Group\u2019s accounting policies, the
Directors are required to make judgements (other than
those involving estimations) that have a significant
impact on the amounts recognised and to make
estimates and assumptions about the carrying amounts
of assets and liabilities that are not readily apparent
from other sources. The estimates and associated
assumptions are based on historical experience and
other factors considered relevant. Actual results may
differ from these estimates.
The estimates and underlying assumptions are reviewed
on an ongoing basis. Revisions to accounting estimates
are recognised in the year in which the estimate is
revised if the revision affects only that year, or in the year
of the revision and future years if the revision affects
both current and future years.
(a) Critical Judgements in Applying the
Group\u2019s Accounting Policies:
The following are the critical judgements, apart from
those involving estimations (which are presented
separately below), that the Directors have made in the
process of applying the Group\u2019s accounting policies and
that have the most significant effect on the amounts
recognised in financial statements.
Capitalisation of Development Costs
Development costs are capitalised when the criteria set
out in paragraph 57 of IAS 38 Intangible assets have
been demonstrated as disclosed in our accounting policy
disclosed on page 176 and 177. Total additions amounted
to \u20ac5.5 million (2023: \u20ac4.0 million) and carrying value of
the capitalised development asset at the balance sheet
date totalled \u20ac9.7 million (2023: \u20ac7.8 million).
Determining the amount to be capitalised requires
management to make judgements about each asset to
ensure that they meet the requirements of the standard.
Business cases have been prepared in line with our
Board approved 2025 budget and two-year outlook,
and further two years of management projections.
The primary projects capitalised in the current year
relate to new features within our social product and
modernising our legacy platforms which both form a
key part of the Group\u2019s growth strategy.
Should trading deteriorate significantly it is reasonably
possible within the next financial year that development
costs may require a material adjustment to their
carrying amount.
Accounting for Exceptional Items
Exceptional items by their nature and size can make
interpretation of the underlying trends in the business
more difficult. Judgement is used in assessing the
particular items which by virtue of their scale and nature
should be disclosed as exceptional items. Circumstances
that the Group believe would give rise to exceptional
items for separate disclosure are outlined in the
exceptional accounting policy on page 173. There were
no current year exceptional costs (2023: \u20ac3.8 million).
(b) Key Sources of Estimation Uncertainty:
The key assumptions concerning the future, and other
key sources of estimation uncertainty at the reporting
period that may have a significant risk of causing a
material adjustment to the carrying amounts of assets
and liabilities within the next financial year are
discussed below.
Recoverability of Deferred Tax Assets
At 31 December 2024 the carrying value of deferred tax
assets amounted to \u20ac13.8 million (2023: \u20ac15.5 million).
The recoverability of these deferred tax assets is
dependent upon the future profitability of the Group. The
recoverability assessment has been based upon Board
approved 2025 budget and two-year outlook, and further
two years of management projections, with appropriate
tax adjustments to accurately reflect the underlying
profit before tax against which deferred tax losses can
be utilised.
The Group does not have any binding fixed term contracts
in place which guarantee profitability, but prior to the
impact of COVID-19 the Group generated a profit after
tax each trading year since its IPO in 2015. In 2024 the
Group returned to a profit before tax of \u20ac11.1 million
(2023: loss of \u20ac1.1 million). The Group has forecasted
a growing profit in each year 2025 to 2029, driven by
growth in bookings and revenue, a declining marketing
cost as a % of revenue driven by its social strategy cost
discipline and nil interest costs as a result of exiting its
external debt facilities. Details of the business operations
expected to derive future profits are set out in the
strategic report on pages 10 to 83. Based on the
assessment performed there were no issues on the
recoverability of the deferred tax asset.
As part of our recoverability analysis, the Group has
performed a sensitivity analysis on taxable profits growth
over the next five years, to mirror the same cashflows
utilised for viability assessments and intangible asset
impairment reviews. A reduction in profits of 10% had no
impact on the recoverability of the deferred tax asset.
The Group\u2019s forecasted taxable profits would have to
decline by over 37% over the next five years before
there is a risk that the deferred tax asset is not fully
recovered in that period.
Carrying Value of Goodwill and Intangible Assets
The Directors assess annually whether goodwill has
suffered any impairment, in accordance with the relevant
accounting policy, and intangible assets are assessed for
possible impairment where indicators of impairment exist.
The recoverable amounts of our CGU is determined
based on the higher of fair value less costs of disposal
or value in use calculations. The carrying amount of
goodwill at 31 December 2024 amounted to \u20ac17.8 million
(2023: \u20ac17.8 million) and the carrying amount of domain
names amounted to \u20ac36.0 million (2023: \u20ac40.9 million).
Based on work performed and the headroom identified
in the model no impairment was deemed necessary
in 2024.
Management estimation is required in forecasting future
cash flows of the cash-generating unit including the
budgeting of future cash flows, the discount rates applied
to these cashflows, the expected long-term growth rate
of the business and terminal values. The area of
estimation of most risk relates to the certainty of
delivering the growth rates forecasted. Further details
on the assumptions used and sensitivity analysis are
set out in note 11.", "dimensions": { "concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00258": { "value": "(b) Key Sources of Estimation Uncertainty: The key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting period that may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Recoverability of Deferred Tax Assets At 31 December 2024 the carrying value of deferred tax assets amounted to \u20ac13.8 million (2023: \u20ac15.5 million). The recoverability of these deferred tax assets is dependent upon the future profitability of the Group. The recoverability assessment has been based upon Board approved 2025 budget and two-year outlook, and further two years of management projections, with appropriate tax adjustments to accurately reflect the underlying profit before tax against which deferred tax losses can be utilised. The Group does not have any binding fixed term contracts in place which guarantee profitability, but prior to the impact of COVID-19 the Group generated a profit after tax each trading year since its IPO in 2015. In 2024 the Group returned to a profit before tax of \u20ac11.1 million (2023: loss of \u20ac1.1 million). The Group has forecasted a growing profit in each year 2025 to 2029, driven by growth in bookings and revenue, a declining marketing cost as a % of revenue driven by its social strategy cost discipline and nil interest costs as a result of exiting its external debt facilities. Details of the business operations expected to derive future profits are set out in the strategic report on pages 10 to 83. Based on the assessment performed there were no issues on the recoverability of the deferred tax asset. As part of our recoverability analysis, the Group has performed a sensitivity analysis on taxable profits growth over the next five years, to mirror the same cashflows utilised for viability assessments and intangible asset impairment reviews. A reduction in profits of 10% had no impact on the recoverability of the deferred tax asset. The Group\u2019s forecasted taxable profits would have to decline by over 37% over the next five years before there is a risk that the deferred tax asset is not fully recovered in that period. Carrying Value of Goodwill and Intangible Assets The Directors assess annually whether goodwill has suffered any impairment, in accordance with the relevant accounting policy, and intangible assets are assessed for possible impairment where indicators of impairment exist. The recoverable amounts of our CGU is determined based on the higher of fair value less costs of disposal or value in use calculations. The carrying amount of goodwill at 31 December 2024 amounted to \u20ac17.8 million (2023: \u20ac17.8 million) and the carrying amount of domain names amounted to \u20ac36.0 million (2023: \u20ac40.9 million). Based on work performed and the headroom identified in the model no impairment was deemed necessary in 2024. Management estimation is required in forecasting future cash flows of the cash-generating unit including the budgeting of future cash flows, the discount rates applied to these cashflows, the expected long-term growth rate of the business and terminal values. The area of estimation of most risk relates to the certainty of delivering the growth rates forecasted. Further details on the assumptions used and sensitivity analysis are set out in note 11.", "dimensions": { "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00180": { "value": "3. Revenue and Segmental Analysis
The Group is managed as a single business unit which
provides software and data processing services that
facilitate hostel, hotel and other accommodation
worldwide, including ancillary on-line advertising revenue.
The Directors determine, and present operating
segments based on the information that is provided
internally to the Chief Executive Officer, who is the
Company\u2019s Chief Operating Decision Maker (\u201cCODM\u201d).
When making resource allocation decisions, the CODM
evaluates booking numbers and average booking
values (\u201cabvs\u201d). Net ABV is defined in Appendix 1
Alternative Performance Measures. The objective in
making resource allocation decisions is to maximise
consolidated financial results.
The CODM assesses the performance of the business
based on the consolidated adjusted profit after tax of the
Group throughout the year. This measure excludes the
effects of certain income and expense items, which
are unusual by virtue of their size and incidence, in the
context of the Group\u2019s ongoing core operations, such
as the impairment of investment in associate and other
one-off items of expenditure.
All revenue is derived wholly from external customers
and is generated from a large number of customers,
none of whom is individually significant.
The Group\u2019s major revenue-generating asset class
comprises of its software and data processing services
and is directly attributable to its reportable segment
operations. In addition, as the Group is managed as
a single business unit, all other assets and liabilities
have been allocated to the Group\u2019s single reportable
segment. There have been no changes to the basis
of segmentation or the measurement basis for the
segment profit or loss.
Revenue split by country, is dependent on the location of the hostel or property. As no single country, year-on-year,
contributes 10% or more of total revenue we have not disclosed revenue by country due to its disaggregated nature.
Our top five countries year-on-year account for 34% of overall revenue (2023: 36%) relating to USA, Australia, and
key European destinations. Revenue split by continent is presented as follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Europe
51.6
56.4
Americas
17.0
17.3
Asia, Africa and Oceania
23.4
19.6
Total revenue
92.0
93.3
\n
Revenue arising within Ireland, the country of domicile, amounted to \u20ac1.8 million (2023: \u20ac1.8 million).
Disaggregation of revenue is presented as follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Technology and data processing fees
90.0
92.1
Advertising revenue and ancillary services
2.0
1.2
Total revenue
92.0
93.3
\n
In the year ended 31 December 2024, the Group generated 98% (2023: 99%) of its revenues from the technology
and data processing fees that it charged to accommodation providers.
As at 31 December 2024, \u20ac3.2 million of revenue relating to free cancellation bookings has been deferred (2023:
\u20ac3.4 million).
Revenue is recognised at the time the reservation is made in respect of non-refundable commission on the basis that
the Group has met its performance obligations at the time the booking is made. In respect of the free cancellation
product, which offers the traveller the opportunity to make a booking on a free cancellation basis and to receive a
refund of their deposit in certain circumstances, such related revenue is not recognised until the last cancellation date
has passed as one party can withdraw from the contract until such a date has passed. Deferred revenue is expected
to be recognised within twelve months of initial recognition.
Advertising revenue and revenue generated from other services are recognised over the period when the service
is performed.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00177": { "value": "3. Revenue and Segmental Analysis
The Group is managed as a single business unit which
provides software and data processing services that
facilitate hostel, hotel and other accommodation
worldwide, including ancillary on-line advertising revenue.
The Directors determine, and present operating
segments based on the information that is provided
internally to the Chief Executive Officer, who is the
Company\u2019s Chief Operating Decision Maker (\u201cCODM\u201d).
When making resource allocation decisions, the CODM
evaluates booking numbers and average booking
values (\u201cabvs\u201d). Net ABV is defined in Appendix 1
Alternative Performance Measures. The objective in
making resource allocation decisions is to maximise
consolidated financial results.
The CODM assesses the performance of the business
based on the consolidated adjusted profit after tax of the
Group throughout the year. This measure excludes the
effects of certain income and expense items, which
are unusual by virtue of their size and incidence, in the
context of the Group\u2019s ongoing core operations, such
as the impairment of investment in associate and other
one-off items of expenditure.
All revenue is derived wholly from external customers
and is generated from a large number of customers,
none of whom is individually significant.
The Group\u2019s major revenue-generating asset class
comprises of its software and data processing services
and is directly attributable to its reportable segment
operations. In addition, as the Group is managed as
a single business unit, all other assets and liabilities
have been allocated to the Group\u2019s single reportable
segment. There have been no changes to the basis
of segmentation or the measurement basis for the
segment profit or loss.
Revenue split by country, is dependent on the location of the hostel or property. As no single country, year-on-year,
contributes 10% or more of total revenue we have not disclosed revenue by country due to its disaggregated nature.
Our top five countries year-on-year account for 34% of overall revenue (2023: 36%) relating to USA, Australia, and
key European destinations. Revenue split by continent is presented as follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Europe
51.6
56.4
Americas
17.0
17.3
Asia, Africa and Oceania
23.4
19.6
Total revenue
92.0
93.3
\n
Revenue arising within Ireland, the country of domicile, amounted to \u20ac1.8 million (2023: \u20ac1.8 million).
Disaggregation of revenue is presented as follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Technology and data processing fees
90.0
92.1
Advertising revenue and ancillary services
2.0
1.2
Total revenue
92.0
93.3
\n
In the year ended 31 December 2024, the Group generated 98% (2023: 99%) of its revenues from the technology
and data processing fees that it charged to accommodation providers.
As at 31 December 2024, \u20ac3.2 million of revenue relating to free cancellation bookings has been deferred (2023:
\u20ac3.4 million).
Revenue is recognised at the time the reservation is made in respect of non-refundable commission on the basis that
the Group has met its performance obligations at the time the booking is made. In respect of the free cancellation
product, which offers the traveller the opportunity to make a booking on a free cancellation basis and to receive a
refund of their deposit in certain circumstances, such related revenue is not recognised until the last cancellation date
has passed as one party can withdraw from the contract until such a date has passed. Deferred revenue is expected
to be recognised within twelve months of initial recognition.
Advertising revenue and revenue generated from other services are recognised over the period when the service
is performed.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00178": { "value": "3. Revenue and Segmental Analysis
The Group is managed as a single business unit which
provides software and data processing services that
facilitate hostel, hotel and other accommodation
worldwide, including ancillary on-line advertising revenue.
The Directors determine, and present operating
segments based on the information that is provided
internally to the Chief Executive Officer, who is the
Company\u2019s Chief Operating Decision Maker (\u201cCODM\u201d).
When making resource allocation decisions, the CODM
evaluates booking numbers and average booking
values (\u201cabvs\u201d). Net ABV is defined in Appendix 1
Alternative Performance Measures. The objective in
making resource allocation decisions is to maximise
consolidated financial results.
The CODM assesses the performance of the business
based on the consolidated adjusted profit after tax of the
Group throughout the year. This measure excludes the
effects of certain income and expense items, which
are unusual by virtue of their size and incidence, in the
context of the Group\u2019s ongoing core operations, such
as the impairment of investment in associate and other
one-off items of expenditure.
All revenue is derived wholly from external customers
and is generated from a large number of customers,
none of whom is individually significant.
The Group\u2019s major revenue-generating asset class
comprises of its software and data processing services
and is directly attributable to its reportable segment
operations. In addition, as the Group is managed as
a single business unit, all other assets and liabilities
have been allocated to the Group\u2019s single reportable
segment. There have been no changes to the basis
of segmentation or the measurement basis for the
segment profit or loss.
Revenue split by country, is dependent on the location of the hostel or property. As no single country, year-on-year,
contributes 10% or more of total revenue we have not disclosed revenue by country due to its disaggregated nature.
Our top five countries year-on-year account for 34% of overall revenue (2023: 36%) relating to USA, Australia, and
key European destinations. Revenue split by continent is presented as follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Europe
51.6
56.4
Americas
17.0
17.3
Asia, Africa and Oceania
23.4
19.6
Total revenue
92.0
93.3
\n
Revenue arising within Ireland, the country of domicile, amounted to \u20ac1.8 million (2023: \u20ac1.8 million).
Disaggregation of revenue is presented as follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Technology and data processing fees
90.0
92.1
Advertising revenue and ancillary services
2.0
1.2
Total revenue
92.0
93.3
\n
In the year ended 31 December 2024, the Group generated 98% (2023: 99%) of its revenues from the technology
and data processing fees that it charged to accommodation providers.
As at 31 December 2024, \u20ac3.2 million of revenue relating to free cancellation bookings has been deferred (2023:
\u20ac3.4 million).
Revenue is recognised at the time the reservation is made in respect of non-refundable commission on the basis that
the Group has met its performance obligations at the time the booking is made. In respect of the free cancellation
product, which offers the traveller the opportunity to make a booking on a free cancellation basis and to receive a
refund of their deposit in certain circumstances, such related revenue is not recognised until the last cancellation date
has passed as one party can withdraw from the contract until such a date has passed. Deferred revenue is expected
to be recognised within twelve months of initial recognition.
Advertising revenue and revenue generated from other services are recognised over the period when the service
is performed.
The Group\u2019s non-current assets are largely located in Ireland and Portugal for current year and prior year, and
Australia in the prior year. These are disaggregated below. Movement in non-current assets in Australia relates to the
impairment of the investment in associate located in Australia, see note 14 for further details. The Group has a small
amount of non-current assets in other locations such as United Kingdom and China which are deemed immaterial
to disclose individually.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Total non-current assets
77.8
84.7
Analysed as:
\u00a0 \u00a0
Ireland
77.7
83.5
Australia
\u2013
1.1
Portugal
0.1
0.1
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00179": { "value": "The Directors determine, and present operating
segments based on the information that is provided
internally to the Chief Executive Officer, who is the
Company\u2019s Chief Operating Decision Maker (\u201cCODM\u201d).
When making resource allocation decisions, the CODM
evaluates booking numbers and average booking
values (\u201cabvs\u201d). Net ABV is defined in Appendix 1
Alternative Performance Measures. The objective in
making resource allocation decisions is to maximise
consolidated financial results.
The CODM assesses the performance of the business
based on the consolidated adjusted profit after tax of the
Group throughout the year. This measure excludes the
effects of certain income and expense items, which
are unusual by virtue of their size and incidence, in the
context of the Group\u2019s ongoing core operations, such
as the impairment of investment in associate and other
one-off items of expenditure.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00184": { "value": "4. Operating Expenses Excluding Impairment
Profit for the year has been arrived at after charging the following operating costs:
\u00a0 \u00a0 \u00a0
As restated
\u00a0 \u00a0
2024
2023
\u00a0
Notes
\u20ac\u2019m
\u20ac\u2019m
Marketing expenses \u2013 direct
(1)
\u00a0
42.5
46.6
Marketing expenses \u2013 brand
\u00a0
0.8
0.7
Staff costs
\u00a0
19.0
19.7
Credit card and other processing fees
(1)
\u00a0
2.9
3.0
Platform operating costs
\u00a0
3.2
3.2
External contractor costs
\u00a0
1.7
1.3
Exceptional items
5
\u2013
0.2
FX loss
\u00a0
0.1
0.2
Other administrative costs
\u00a0
1.6
1.7
Total administrative expenses
\u00a0
71.8
76.6
Depreciation of tangible fixed assets
12
0.6
1.0
Amortisation of intangible fixed assets
11
8.5
10.8
Total operating expenses excluding impairment
\u00a0
80.9
88.4
\n
(1)
\u20ac0.2 million of fees that have been passed on from our direct marketing partners have been re-presented in the prior year between marketing expenses
\u2013 direct and credit card and other processing fees for a fairer presentation of the direct marketing costs incurred by the Group.
Reversal of impairment of trade receivables in the current and prior year is not considered material to
individually disclose.
Other administrative costs are net of external contractor costs capitalised of \u20ac1.2 million (2023: \u20ac0.8 million) and
include rent and rates, legal and professional and training and recruitment.
Included within operating expenses is a total credit of \u20ac0.2 million (2023: \u20ac0.2 million) in relation to a research and
development (\u201cR&D\u201d) tax credit claimed in respect of projects completed in 2023 and 2022. R&D tax credit applications
are completed with our tax advisors and the Irish Revenue Commissioners and are recognised by Group only on
formal approval of an R&D tax credit application made.
Auditor\u2019s Remuneration
KPMG were appointed as statutory auditors on 09 May 2023. Current year and prior year services and fees are set
out below for services obtained from the Group\u2019s auditor KPMG. Included in prior year numbers is \u20ac7k relating to
Deloitte Ireland LLP for final services performed in respect to the 2022 financial year.
\u00a0
2024
2023
\u00a0
\u20ac\u2019000
\u20ac\u2019000
Fees payable for the statutory audit of the Company and consolidated financial statements
62
60
Fees payable for other services:
\u00a0 \u00a0
\u2013 statutory audit of subsidiary undertakings
181
160
\u2013 tax advisory services
\u2013
\u2013
\u2013 audit related assurance services
\u2013
7
\u2013 corporate finance services
\u2013
\u2013
\u2013 other non\u2013audit services
\u2013
\u2013
Total
243
227
\n
5. Exceptional Items
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Restructuring costs
\u2013
3.8
Total
\u2013
3.8
\n
Included in prior year exceptional items are operating costs of \u20ac0.2 million and finance costs of \u20ac3.6 million. These
exceptional items primarily relate to costs incurred on refinancing of the HPS facility totalling \u20ac3.6 million, broken down
as \u20ac0.7 million of early repayment penalty interest, \u20ac0.1 million of transaction costs relating to exiting the old facility
and \u20ac2.8 million accelerated interest costs which relate to transaction costs capitalised on drawdown of HPS facility
in February 2021, which were expected to be amortised over a 5-year period to 2026, but unwound in full on refinancing.
6. Staff Costs
The average monthly number of people employed (including Executive Directors) was as follows:
\u00a0
2024
2023
Average number of persons employed:
\u00a0 \u00a0
Sales and enabling
94
94
Technical
134
137
Total
228
231
\n
The aggregate remuneration costs of these employees is analysed as follows:
\u00a0 \u00a0
2024
2023
\u00a0
Notes
\u20ac\u2019m
\u20ac\u2019m
Staff costs comprise:
\u00a0 \u00a0 \u00a0
Wages and salaries
\u00a0
17.7
17.9
Social security costs
\u00a0
2.2
2.1
Pensions costs
\u00a0
0.5
0.4
Other benefits
\u00a0
0.5
0.5
Share option charge
24
1.8
1.7
\u00a0 \u00a0
22.7
22.6
Capitalised development labour
11
(3.7)
(2.9)
Total
\u00a0
19.0
19.7
\n
Capitalised development labour includes \u20ac3.7 million (2023: \u20ac2.9 million) of employee costs capitalised. Increase
year-on-year driven by the nature of 2024 projects completed and wage inflation.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00183": { "value": "4. Operating Expenses Excluding Impairment
Profit for the year has been arrived at after charging the following operating costs:
\u00a0 \u00a0 \u00a0
As restated
\u00a0 \u00a0
2024
2023
\u00a0
Notes
\u20ac\u2019m
\u20ac\u2019m
Marketing expenses \u2013 direct
(1)
\u00a0
42.5
46.6
Marketing expenses \u2013 brand
\u00a0
0.8
0.7
Staff costs
\u00a0
19.0
19.7
Credit card and other processing fees
(1)
\u00a0
2.9
3.0
Platform operating costs
\u00a0
3.2
3.2
External contractor costs
\u00a0
1.7
1.3
Exceptional items
5
\u2013
0.2
FX loss
\u00a0
0.1
0.2
Other administrative costs
\u00a0
1.6
1.7
Total administrative expenses
\u00a0
71.8
76.6
Depreciation of tangible fixed assets
12
0.6
1.0
Amortisation of intangible fixed assets
11
8.5
10.8
Total operating expenses excluding impairment
\u00a0
80.9
88.4
\n
(1)
\u20ac0.2 million of fees that have been passed on from our direct marketing partners have been re-presented in the prior year between marketing expenses
\u2013 direct and credit card and other processing fees for a fairer presentation of the direct marketing costs incurred by the Group.
Reversal of impairment of trade receivables in the current and prior year is not considered material to
individually disclose.
Other administrative costs are net of external contractor costs capitalised of \u20ac1.2 million (2023: \u20ac0.8 million) and
include rent and rates, legal and professional and training and recruitment.
Included within operating expenses is a total credit of \u20ac0.2 million (2023: \u20ac0.2 million) in relation to a research and
development (\u201cR&D\u201d) tax credit claimed in respect of projects completed in 2023 and 2022. R&D tax credit applications
are completed with our tax advisors and the Irish Revenue Commissioners and are recognised by Group only on
formal approval of an R&D tax credit application made.
Auditor\u2019s Remuneration
KPMG were appointed as statutory auditors on 09 May 2023. Current year and prior year services and fees are set
out below for services obtained from the Group\u2019s auditor KPMG. Included in prior year numbers is \u20ac7k relating to
Deloitte Ireland LLP for final services performed in respect to the 2022 financial year.
\u00a0
2024
2023
\u00a0
\u20ac\u2019000
\u20ac\u2019000
Fees payable for the statutory audit of the Company and consolidated financial statements
62
60
Fees payable for other services:
\u00a0 \u00a0
\u2013 statutory audit of subsidiary undertakings
181
160
\u2013 tax advisory services
\u2013
\u2013
\u2013 audit related assurance services
\u2013
7
\u2013 corporate finance services
\u2013
\u2013
\u2013 other non\u2013audit services
\u2013
\u2013
Total
243
227
\n
5. Exceptional Items
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Restructuring costs
\u2013
3.8
Total
\u2013
3.8
\n
Included in prior year exceptional items are operating costs of \u20ac0.2 million and finance costs of \u20ac3.6 million. These
exceptional items primarily relate to costs incurred on refinancing of the HPS facility totalling \u20ac3.6 million, broken down
as \u20ac0.7 million of early repayment penalty interest, \u20ac0.1 million of transaction costs relating to exiting the old facility
and \u20ac2.8 million accelerated interest costs which relate to transaction costs capitalised on drawdown of HPS facility
in February 2021, which were expected to be amortised over a 5-year period to 2026, but unwound in full on refinancing.
6. Staff Costs
The average monthly number of people employed (including Executive Directors) was as follows:
\u00a0
2024
2023
Average number of persons employed:
\u00a0 \u00a0
Sales and enabling
94
94
Technical
134
137
Total
228
231
\n
The aggregate remuneration costs of these employees is analysed as follows:
\u00a0 \u00a0
2024
2023
\u00a0
Notes
\u20ac\u2019m
\u20ac\u2019m
Staff costs comprise:
\u00a0 \u00a0 \u00a0
Wages and salaries
\u00a0
17.7
17.9
Social security costs
\u00a0
2.2
2.1
Pensions costs
\u00a0
0.5
0.4
Other benefits
\u00a0
0.5
0.5
Share option charge
24
1.8
1.7
\u00a0 \u00a0
22.7
22.6
Capitalised development labour
11
(3.7)
(2.9)
Total
\u00a0
19.0
19.7
\n
Capitalised development labour includes \u20ac3.7 million (2023: \u20ac2.9 million) of employee costs capitalised. Increase
year-on-year driven by the nature of 2024 projects completed and wage inflation.", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00181": { "value": "4. Operating Expenses Excluding Impairment
Profit for the year has been arrived at after charging the following operating costs:
\u00a0 \u00a0 \u00a0
As restated
\u00a0 \u00a0
2024
2023
\u00a0
Notes
\u20ac\u2019m
\u20ac\u2019m
Marketing expenses \u2013 direct
(1)
\u00a0
42.5
46.6
Marketing expenses \u2013 brand
\u00a0
0.8
0.7
Staff costs
\u00a0
19.0
19.7
Credit card and other processing fees
(1)
\u00a0
2.9
3.0
Platform operating costs
\u00a0
3.2
3.2
External contractor costs
\u00a0
1.7
1.3
Exceptional items
5
\u2013
0.2
FX loss
\u00a0
0.1
0.2
Other administrative costs
\u00a0
1.6
1.7
Total administrative expenses
\u00a0
71.8
76.6
Depreciation of tangible fixed assets
12
0.6
1.0
Amortisation of intangible fixed assets
11
8.5
10.8
Total operating expenses excluding impairment
\u00a0
80.9
88.4
\n
(1)
\u20ac0.2 million of fees that have been passed on from our direct marketing partners have been re-presented in the prior year between marketing expenses
\u2013 direct and credit card and other processing fees for a fairer presentation of the direct marketing costs incurred by the Group.
Reversal of impairment of trade receivables in the current and prior year is not considered material to
individually disclose.
Other administrative costs are net of external contractor costs capitalised of \u20ac1.2 million (2023: \u20ac0.8 million) and
include rent and rates, legal and professional and training and recruitment.
Included within operating expenses is a total credit of \u20ac0.2 million (2023: \u20ac0.2 million) in relation to a research and
development (\u201cR&D\u201d) tax credit claimed in respect of projects completed in 2023 and 2022. R&D tax credit applications
are completed with our tax advisors and the Irish Revenue Commissioners and are recognised by Group only on
formal approval of an R&D tax credit application made.
Auditor\u2019s Remuneration
KPMG were appointed as statutory auditors on 09 May 2023. Current year and prior year services and fees are set
out below for services obtained from the Group\u2019s auditor KPMG. Included in prior year numbers is \u20ac7k relating to
Deloitte Ireland LLP for final services performed in respect to the 2022 financial year.
\u00a0
2024
2023
\u00a0
\u20ac\u2019000
\u20ac\u2019000
Fees payable for the statutory audit of the Company and consolidated financial statements
62
60
Fees payable for other services:
\u00a0 \u00a0
\u2013 statutory audit of subsidiary undertakings
181
160
\u2013 tax advisory services
\u2013
\u2013
\u2013 audit related assurance services
\u2013
7
\u2013 corporate finance services
\u2013
\u2013
\u2013 other non\u2013audit services
\u2013
\u2013
Total
243
227
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00182": { "value": "4. Operating Expenses Excluding Impairment
Profit for the year has been arrived at after charging the following operating costs:
\u00a0 \u00a0 \u00a0
As restated
\u00a0 \u00a0
2024
2023
\u00a0
Notes
\u20ac\u2019m
\u20ac\u2019m
Marketing expenses \u2013 direct
(1)
\u00a0
42.5
46.6
Marketing expenses \u2013 brand
\u00a0
0.8
0.7
Staff costs
\u00a0
19.0
19.7
Credit card and other processing fees
(1)
\u00a0
2.9
3.0
Platform operating costs
\u00a0
3.2
3.2
External contractor costs
\u00a0
1.7
1.3
Exceptional items
5
\u2013
0.2
FX loss
\u00a0
0.1
0.2
Other administrative costs
\u00a0
1.6
1.7
Total administrative expenses
\u00a0
71.8
76.6
Depreciation of tangible fixed assets
12
0.6
1.0
Amortisation of intangible fixed assets
11
8.5
10.8
Total operating expenses excluding impairment
\u00a0
80.9
88.4
\n
(1)
\u20ac0.2 million of fees that have been passed on from our direct marketing partners have been re-presented in the prior year between marketing expenses
\u2013 direct and credit card and other processing fees for a fairer presentation of the direct marketing costs incurred by the Group.
Reversal of impairment of trade receivables in the current and prior year is not considered material to
individually disclose.
Other administrative costs are net of external contractor costs capitalised of \u20ac1.2 million (2023: \u20ac0.8 million) and
include rent and rates, legal and professional and training and recruitment.
Included within operating expenses is a total credit of \u20ac0.2 million (2023: \u20ac0.2 million) in relation to a research and
development (\u201cR&D\u201d) tax credit claimed in respect of projects completed in 2023 and 2022. R&D tax credit applications
are completed with our tax advisors and the Irish Revenue Commissioners and are recognised by Group only on
formal approval of an R&D tax credit application made.", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00186": { "value": "
\u00a0 \u00a0 \u00a0
As restated
\u00a0 \u00a0
2024
2023
\u00a0
Notes
\u20ac\u2019m
\u20ac\u2019m
Marketing expenses \u2013 direct
(1)
\u00a0
42.5
46.6
Marketing expenses \u2013 brand
\u00a0
0.8
0.7
Staff costs
\u00a0
19.0
19.7
Credit card and other processing fees
(1)
\u00a0
2.9
3.0
Platform operating costs
\u00a0
3.2
3.2
External contractor costs
\u00a0
1.7
1.3
Exceptional items
5
\u2013
0.2
FX loss
\u00a0
0.1
0.2
Other administrative costs
\u00a0
1.6
1.7
Total administrative expenses
\u00a0
71.8
76.6
Depreciation of tangible fixed assets
12
0.6
1.0
Amortisation of intangible fixed assets
11
8.5
10.8
Total operating expenses excluding impairment
\u00a0
80.9
88.4
\n
(1)
\u20ac0.2 million of fees that have been passed on from our direct marketing partners have been re-presented in the prior year between marketing expenses
\u2013 direct and credit card and other processing fees for a fairer presentation of the direct marketing costs incurred by the Group. ", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00185": { "value": "
\u00a0 \u00a0 \u00a0
As restated
\u00a0 \u00a0
2024
2023
\u00a0
Notes
\u20ac\u2019m
\u20ac\u2019m
Marketing expenses \u2013 direct
(1)
\u00a0
42.5
46.6
Marketing expenses \u2013 brand
\u00a0
0.8
0.7
Staff costs
\u00a0
19.0
19.7
Credit card and other processing fees
(1)
\u00a0
2.9
3.0
Platform operating costs
\u00a0
3.2
3.2
External contractor costs
\u00a0
1.7
1.3
Exceptional items
5
\u2013
0.2
FX loss
\u00a0
0.1
0.2
Other administrative costs
\u00a0
1.6
1.7
Total administrative expenses
\u00a0
71.8
76.6
Depreciation of tangible fixed assets
12
0.6
1.0
Amortisation of intangible fixed assets
11
8.5
10.8
Total operating expenses excluding impairment
\u00a0
80.9
88.4
\n
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Capitalised
\u00a0
\u00a0 \u00a0
Domain
\u00a0
Affiliates
development
\u00a0
\u00a0
Goodwill
names
Technology
contracts
costs
Total
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Cost
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
47.2
214.8
14.1
5.5
26.9
308.5
Additions
\u2013
\u2013
\u2013
\u2013
4.0
4.0
Balance at 31 December 2023
47.2
214.8
14.1
5.5
30.9
312.5
Additions
\u2013
\u2013
\u2013
\u2013
5.5
5.5
Balance at 31 December 2024
47.2
214.8
14.1
5.5
36.4
318.0
Accumulated amortisation
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
and impairment
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
(29.4)
(166.1)
(14.1)
(5.5)
(20.1)
(235.2)
Charge for year
\u2013
(7.8)
\u2013
\u2013
(3.0)
(10.8)
Balance at 31 December 2023
(29.4)
(173.9)
(14.1)
(5.5)
(23.1)
(246)
Charge for year
\u2013
(4.9)
\u2013
\u2013
(3.6)
(8.5)
Balance at 31 December 2024
(29.4)
(178.8)
(14.1)
(5.5)
(26.7)
(254.5)
Carrying amount
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2023
17.8
40.9
\u2013
\u2013
7.8
66.5
At 31 December 2024
17.8
36.0
\u2013
\u2013
9.7
63.5
\n\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Right-of-use
Leasehold
\u00a0 \u00a0 \u00a0
\u00a0
assets (leasehold
property
Fixtures &
Computer
\u00a0
\u00a0
property)
improvements
equipment
equipment
Total
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Cost
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
1.3
0.5
0.2
0.4
2.4
Additions
1.2
\u2013
\u2013
0.1
1.3
Disposals
(1.1)
(0.5)
(0.2)
(0.1)
(1.9)
Balance at 31 December 2023
1.4
\u2013
\u2013
0.4
1.8
Additions
0.5
\u00a0
\u2013
0.1
0.6
Disposals
(1.2)
\u2013
\u2013
(0.1)
(1.3)
Balance at 31 December 2024
0.7
\u2013
\u2013
0.4
1.1
Accumulated depreciation
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
(0.8)
(0.5)
(0.1)
(0.2)
(1.6)
Charge for year
(0.8)
\u2013
(0.1)
(0.1)
(1.0)
Disposals
0.8
0.5
0.2
0.1
1.6
Balance at 31 December 2023
(0.8)
\u2013
\u2013
(0.2)
(1.0)
Charge for year
(0.5)
\u2013
\u2013
(0.1)
(0.6)
Disposals
0.9
\u2013
\u2013
0.1
1.0
Balance at 31 December 2024
(0.4)
\u2013
\u2013
(0.2)
(0.6)
Carrying amount
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2023
0.6
\u2013
\u2013
0.2
0.8
At 31 December 2024
0.3
\u2013
\u2013
0.2
0.5
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00187": { "value": "Included within operating expenses is a total credit of \u20ac0.2 million (2023: \u20ac0.2 million) in relation to a research and
development (\u201cR&D\u201d) tax credit claimed in respect of projects completed in 2023 and 2022. R&D tax credit applications
are completed with our tax advisors and the Irish Revenue Commissioners and are recognised by Group only on
formal approval of an R&D tax credit application made.", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00188": { "value": "Auditor\u2019s Remuneration
KPMG were appointed as statutory auditors on 09 May 2023. Current year and prior year services and fees are set
out below for services obtained from the Group\u2019s auditor KPMG. Included in prior year numbers is \u20ac7k relating to
Deloitte Ireland LLP for final services performed in respect to the 2022 financial year.
\u00a0
2024
2023
\u00a0
\u20ac\u2019000
\u20ac\u2019000
Fees payable for the statutory audit of the Company and consolidated financial statements
62
60
Fees payable for other services:
\u00a0 \u00a0
\u2013 statutory audit of subsidiary undertakings
181
160
\u2013 tax advisory services
\u2013
\u2013
\u2013 audit related assurance services
\u2013
7
\u2013 corporate finance services
\u2013
\u2013
\u2013 other non\u2013audit services
\u2013
\u2013
Total
243
227
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00189": { "value": "6. Staff Costs
The average monthly number of people employed (including Executive Directors) was as follows:
\u00a0
2024
2023
Average number of persons employed:
\u00a0 \u00a0
Sales and enabling
94
94
Technical
134
137
Total
228
231
\n
The aggregate remuneration costs of these employees is analysed as follows:
\u00a0 \u00a0
2024
2023
\u00a0
Notes
\u20ac\u2019m
\u20ac\u2019m
Staff costs comprise:
\u00a0 \u00a0 \u00a0
Wages and salaries
\u00a0
17.7
17.9
Social security costs
\u00a0
2.2
2.1
Pensions costs
\u00a0
0.5
0.4
Other benefits
\u00a0
0.5
0.5
Share option charge
24
1.8
1.7
\u00a0 \u00a0
22.7
22.6
Capitalised development labour
11
(3.7)
(2.9)
Total
\u00a0
19.0
19.7
\n
Capitalised development labour includes \u20ac3.7 million (2023: \u20ac2.9 million) of employee costs capitalised. Increase
year-on-year driven by the nature of 2024 projects completed and wage inflation.", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00190": { "value": "The average monthly number of people employed (including Executive Directors) was as follows:
\u00a0
2024
2023
Average number of persons employed:
\u00a0 \u00a0
Sales and enabling
94
94
Technical
134
137
Total
228
231
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00220": { "value": "7. Other Income
\u00a0
2024
2023
Notes
\u20ac\u2019m
\u20ac\u2019m
Provision release
1.3
\u2013
Total
1.3
\u2013
\n
Amount relates to a revision in the probability of payment and subsequent release of a balance sheet provision for
amounts owed to customers from bookings cancelled due to COVID-19 related travel restrictions. The Group have
determined that the possibility of an outflow of economic benefit is remote despite attempts to settle payment.Movement in deferred revenue relating to free cancellation bookings:
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Opening balance
3.4
3.0
Revenue deferred during year
56.9
63.4
Revenue recognised during year
(43.7)
(48.1)
Amount reversed during year relating to cancellations
(13.4)
(14.9)
Closing balance
3.2
3.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00221": { "value": "7. Other Income
\u00a0
2024
2023
Notes
\u20ac\u2019m
\u20ac\u2019m
Provision release
1.3
\u2013
Total
1.3
\u2013
\n
Amount relates to a revision in the probability of payment and subsequent release of a balance sheet provision for
amounts owed to customers from bookings cancelled due to COVID-19 related travel restrictions. The Group have
determined that the possibility of an outflow of economic benefit is remote despite attempts to settle payment.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00191": { "value": "8. Finance Costs
\u00a0
Notes
2024
2023
\u00a0 \u00a0
\u20ac\u2019m
\u20ac\u2019m
Finance costs \u2013 HPS facility
22
\u2013
1.6
Finance costs \u2013 AIB facility
22
0.4
0.7
Finance costs \u2013 exceptional
5
\u2013
3.6
Finance costs \u2013 warehoused debt
\u00a0
(0.2)
0.2
Finance costs \u2013 other
\u00a0
0.1
\u2013
Total
\u00a0
0.3
6.1
\n
Included in \u2018finance costs \u2013 warehoused debt\u2019 is a credit of \u20ac0.2 million regarding interest recognised in the prior
year on the balance of warehoused payroll tax liabilities, which was not paid. In the current year the Irish Revenue
Commissioners announced that the applicable rate of interest on these will reduce to 0%, with any amounts accrued
being written off.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00192": { "value": "8. Finance Costs
\u00a0
Notes
2024
2023
\u00a0 \u00a0
\u20ac\u2019m
\u20ac\u2019m
Finance costs \u2013 HPS facility
22
\u2013
1.6
Finance costs \u2013 AIB facility
22
0.4
0.7
Finance costs \u2013 exceptional
5
\u2013
3.6
Finance costs \u2013 warehoused debt
\u00a0
(0.2)
0.2
Finance costs \u2013 other
\u00a0
0.1
\u2013
Total
\u00a0
0.3
6.1
\n
Included in \u2018finance costs \u2013 warehoused debt\u2019 is a credit of \u20ac0.2 million regarding interest recognised in the prior
year on the balance of warehoused payroll tax liabilities, which was not paid. In the current year the Irish Revenue
Commissioners announced that the applicable rate of interest on these will reduce to 0%, with any amounts accrued
being written off.22. Borrowings
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Opening Balance
10.2
31.1
Repayments (HPS)
\u2013
(34.1)
Drawdown (AIB)
\u2013
17.4
Repayments (AIB)
(10.3)
(7.1)
Transaction costs relating to borrowings (AIB)
\u2013
(0.2)
Finance costs
0.4
2.4
Finance costs (exceptional items)
-
2.8
Finance interest paid
(0.3)
(2.1)
Total
\u2013
10.2
\n
In 2021 the Group signed a \u20ac30 million five-year term loan facility with certain investment funds and accounts of
HPS Investment Partners LLC. In May 2023 the facility was repaid in full and refinanced with AIB.
A three-year facility was signed with AIB on 09 May 2023. This facility was comprised of a \u20ac10.0 million term loan
which was repaid in full in June 2024 (\u20ac1.7 million in 2023, \u20ac8.3 million in 2024), a \u20ac7.5 million revolving credit facility
which was repaid in full in February 2024 (\u20ac5.5 million in 2023, \u20ac2.0 million in 2024) and an undrawn \u20ac2.5 million
overdraft. No early repayment fees applied and at the date of repayment all security and covenant requirements
held by AIB were released. The Group continues to hold an undrawn \u20ac2.5 million overdraft facility with AIB retained
for flexibility.
Reduction in interest costs are driven by the refinancing in May 2023, and early repayment of the AIB facilities. Finance
costs expense include non-cash amounts relating to transaction costs capitalised for professional fees incurring on
the initial drawdown of the AIB facility in May 2023.
Borrowings are classified in the Consolidated Statement of Financial Position as:
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Non-current borrowings
\u2013
4.8
Current borrowings
\u2013
5.4
Total
\u2013
10.2
Change in liabilities arising from financing activities:
\u00a0
Lease liabilities
\u00a0 \u00a0
\u00a0
(note 15)
Borrowings
Total debt
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
At 01 January 2023
(0.5)
(31.1)
(31.6)
Financing cash flows
0.9
23.7
24.6
Interest paid (operating activities)
\u2013
2.1
2.1
Other non-cash movements
(1.0)
(4.9)
(5.9)
Balance at 31 December 2023
(0.6)
(10.2)
(10.8)
Financing cash flows
0.5
10.3
10.8
Interest paid (operating activities)
-
0.3
0.3
Other non-cash movements
(0.2)
(0.4)
(0.6)
Balance at 31 December 2024
(0.3)
\u2013
(0.3)
\n
Other non-cash movements for lease liabilities in 2024 and 2023 relate to additions, disposals, lease interest,
a modification and a lease term remeasurement. Other non-cash movements for borrowings in 2024 and 2023
relate to finance costs capitalised on the HPS and AIB term loan facility.", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00193": { "value": "8. Finance Costs
\u00a0
Notes
2024
2023
\u00a0 \u00a0
\u20ac\u2019m
\u20ac\u2019m
Finance costs \u2013 HPS facility
22
\u2013
1.6
Finance costs \u2013 AIB facility
22
0.4
0.7
Finance costs \u2013 exceptional
5
\u2013
3.6
Finance costs \u2013 warehoused debt
\u00a0
(0.2)
0.2
Finance costs \u2013 other
\u00a0
0.1
\u2013
Total
\u00a0
0.3
6.1
\n
Included in \u2018finance costs \u2013 warehoused debt\u2019 is a credit of \u20ac0.2 million regarding interest recognised in the prior
year on the balance of warehoused payroll tax liabilities, which was not paid. In the current year the Irish Revenue
Commissioners announced that the applicable rate of interest on these will reduce to 0%, with any amounts accrued
being written off.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00194": { "value": "9. Taxation
\u00a0 \u00a0
2024
2023
\u00a0
Notes
\u20ac\u2019m
\u20ac\u2019m
Corporation tax:
\u00a0 \u00a0 \u00a0
Current year charge
\u00a0
0.3
0.2
Origination and reversal of temporary differences
13
1.7
(6.4)
Total tax charge/(credit) for the year
\u00a0
2.0
(6.2)
\n
Corporation tax is calculated at 12.5% (2023: 12.5%) of the estimated taxable profit/
(loss) for the year. The Irish 12.5%
corporation tax rate has been used as this is the rate at which most of the Group\u2019s profits are taxed. Taxation for other
jurisdictions is calculated at the rates prevailing in the respective jurisdictions. The corporation tax charge that arises
relates primarily to international operations where tax losses from our Irish operations cannot be utilised.
The charge for the year can be reconciled to the Consolidated Income Statement as follows:
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Profit/(loss) before tax on continuing operations
11.1
(1.1)
Tax at the Irish corporation tax rate of 12.5% (2023: 12.5%)
1.4
(0.1)
Effects of:
\u00a0 \u00a0
Tax effect of expenses that are not deductible in determining taxable profit
0.5
1.2
Tax effect of losses utilised
(0.4)
(0.4)
Tax effect of income taxed at different rates
\u2013
0.1
Depreciation and amortisation (less) than capital allowances
(1.3)
(0.7)
Effect of different tax rates of subsidiaries operating in other jurisdictions
0.1
0.1
Net movement/(recognition) of deferred tax asset (note 13
)
1.7
(6.4)
Total
2.0
(6.2)
\n
Tax effect of expenses that are not deductible in determining taxable profit include share-based payment expense and
impairment of investment in associate. In the prior year tax effect of expenses that are not deductible in determining
taxable profit include finance costs and exceptional items. Depreciation and amortisation (less) than capital allowances
driven by current year usage of capital allowances on intangible assets carried forward, due to the increased profitability
in the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00195": { "value": "10. Earnings Per Share
Basic earnings per share is computed by dividing the profit for the year after tax available to ordinary shareholders
by the weighted average number of ordinary shares outstanding during the year.
\u00a0
2024
2023
Weighted average number of shares in issue (\u2018m)
124.5
122
Profit for the year (\u20ac\u2019m)
9.1
5.1
Basic earnings per share (euro cent)
7.28
4.21
\n
Diluted earnings per share is computed by adjusting the weighted average number of ordinary shares in issue to
assume conversion of all potential dilutive ordinary shares. Share options and share awards (note 24) are the Company\u2019s
only potential dilutive ordinary shares.
\u00a0
2024
2023
Weighted average number of ordinary shares in issue (\u2018m)
124.5
122.0
Effect of dilutive potential ordinary shares:
\u00a0 \u00a0
Share options (\u2018m)
4.9
4.4
Weighted average number of ordinary shares for the purpose of diluted earnings per share (\u2018m)
129.4
126.4
Diluted earnings per share (euro cent)
7.01
4.07
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00198": { "value": "11. Intangible Assets
The table below shows the movements in intangible assets for the year:
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Capitalised
\u00a0
\u00a0 \u00a0
Domain
\u00a0
Affiliates
development
\u00a0
\u00a0
Goodwill
names
Technology
contracts
costs
Total
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Cost
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
47.2
214.8
14.1
5.5
26.9
308.5
Additions
\u2013
\u2013
\u2013
\u2013
4.0
4.0
Balance at 31 December 2023
47.2
214.8
14.1
5.5
30.9
312.5
Additions
\u2013
\u2013
\u2013
\u2013
5.5
5.5
Balance at 31 December 2024
47.2
214.8
14.1
5.5
36.4
318.0
Accumulated amortisation
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
and impairment
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
(29.4)
(166.1)
(14.1)
(5.5)
(20.1)
(235.2)
Charge for year
\u2013
(7.8)
\u2013
\u2013
(3.0)
(10.8)
Balance at 31 December 2023
(29.4)
(173.9)
(14.1)
(5.5)
(23.1)
(246)
Charge for year
\u2013
(4.9)
\u2013
\u2013
(3.6)
(8.5)
Balance at 31 December 2024
(29.4)
(178.8)
(14.1)
(5.5)
(26.7)
(254.5)
Carrying amount
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2023
17.8
40.9
\u2013
\u2013
7.8
66.5
At 31 December 2024
17.8
36.0
\u2013
\u2013
9.7
63.5
\nThe carrying value of the goodwill balance at 31 December 2024 is \u20ac17.8 million (2023: \u20ac17.8 million) and relates to
an investment in Hostelworld by the Group in 2009. Goodwill, which has an indefinite useful life, is subject to annual
impairment testing, or more frequent testing if there are indicators of impairment. Following impairment testing based
on the assumptions below, no impairment was recognised for goodwill in the current or prior year.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00196": { "value": "11. Intangible Assets
The table below shows the movements in intangible assets for the year:
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Capitalised
\u00a0
\u00a0 \u00a0
Domain
\u00a0
Affiliates
development
\u00a0
\u00a0
Goodwill
names
Technology
contracts
costs
Total
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Cost
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
47.2
214.8
14.1
5.5
26.9
308.5
Additions
\u2013
\u2013
\u2013
\u2013
4.0
4.0
Balance at 31 December 2023
47.2
214.8
14.1
5.5
30.9
312.5
Additions
\u2013
\u2013
\u2013
\u2013
5.5
5.5
Balance at 31 December 2024
47.2
214.8
14.1
5.5
36.4
318.0
Accumulated amortisation
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
and impairment
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
(29.4)
(166.1)
(14.1)
(5.5)
(20.1)
(235.2)
Charge for year
\u2013
(7.8)
\u2013
\u2013
(3.0)
(10.8)
Balance at 31 December 2023
(29.4)
(173.9)
(14.1)
(5.5)
(23.1)
(246)
Charge for year
\u2013
(4.9)
\u2013
\u2013
(3.6)
(8.5)
Balance at 31 December 2024
(29.4)
(178.8)
(14.1)
(5.5)
(26.7)
(254.5)
Carrying amount
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2023
17.8
40.9
\u2013
\u2013
7.8
66.5
At 31 December 2024
17.8
36.0
\u2013
\u2013
9.7
63.5
\n
Capitalised development cost additions during the year comprised of internal staff costs of \u20ac3.7 million (2023:
\u20ac2.9 million) and other internally generated additions of \u20ac1.8 million (2023: \u20ac1.1 million). Development costs have
been capitalised in accordance with IAS 38 Intangible Assets and are therefore not treated, for dividend purposes,
as a realised loss. Hostelworld continue to utilise affiliate contracts to generate revenue and continue to pay affiliate
partner commissions.
Impairment Review:
The carrying value of the capitalised development costs balance at 31 December 2024 is \u20ac9.7 million (2023: \u20ac7.8 million).
The useful life of development costs is dependent on the nature of the project capitalised and varies from 2-5 years.
An impairment review is performed annually to ensure that the economic benefit expected to be derived from the
capitalised development cost project has occurred. No issue arose on this review, management area satisfied with
the carrying value of each capitalised project and no impairments were recognised in 2024 or 2023.
The carrying value of the goodwill balance at 31 December 2024 is \u20ac17.8 million (2023: \u20ac17.8 million) and relates to
an investment in Hostelworld by the Group in 2009. Goodwill, which has an indefinite useful life, is subject to annual
impairment testing, or more frequent testing if there are indicators of impairment. Following impairment testing based
on the assumptions below, no impairment was recognised for goodwill in the current or prior year.
The carrying value of the Group\u2019s domain names and technology assets, referred to henceforth as \u2018intellectual
property\u2019 at 31 December 2024 is \u20ac36.0 million (2023: \u20ac40.9 million). Following impairment testing based on the
assumptions below, no impairment was recognised for the Group\u2019s intellectual property in the current or prior year.
Cash Generating Unit:
The Group\u2019s goodwill and intellectual property are allocated to a single CGU, encompassing goodwill, intellectual
property, trademarks, and the Hostelworld domains and apps, as well as the back-end property management system
and technology used by hostels. This singular CGU reflects the Group\u2019s focus on Hostelworld as the main trading
brand, where future investment and marketing are concentrated.
The recoverable amount of the goodwill and intellectual property allocated to the singular CGU is determined based
on a value in use basis. The key assumptions for calculating value in use of the CGU are discount rates, growth rates
and cash flows as described below. All three assumptions are based on the Group\u2019s budgeting and forecasting
process which we describe in detail.
Current Year Discount Rate Applied:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
Pre-tax discount rate
16.68%
17.52%
Post-tax discount rate
12.90%
13.70%
\n
The discount rates are based on the Group\u2019s weighted average cost of capital (\u201cWACC\u201d), calculated using the Capital
Asset Pricing Model adjusted for the Group\u2019s specific beta coefficient together with a company size premium.
As using the Group\u2019s WACC to derive a discount rate, post-tax discount rates have been applied to post-tax cash flows.
The Irish corporation tax rate of 12.5% has been used in deriving post-tax cash flows as most Group profits will be
taxed at this rate. The impact of using a post-tax discount rate over a pre-tax discount rate has been assessed and
gives rise to no material difference.
Discount rates have decreased year-on-year primarily driven by a decrease in government bond rates.
Cash Flows:
The cash flow projections are based on a Board approved 2025 budget and two-year outlook, and further two years
of management projections described previously and is consistent with the forecasts used for the Group\u2019s review of
deferred tax recoverability, going concern and viability assessments. In preparing the Board approved 2025 budget
and two-year outlook, and further two years of management projections, management have based projections on
historical performance, together with management\u2019s expectation of future trends. Management have also considered
the Group\u2019s history of earnings and core strategic initiatives including improving the competitiveness of our core OTA
business and platform modernisation.
Within cash flows, management have also considered capital expenditure requirements to maintain the CGU
performance and profitability. Working capital requirements are forecast to move in line with activity.
Further detail on how we have viewed climate related risks is set out in our material accounting policies on page 170.
Growth Rates:
Growth rates are assessed based on the Board approved 2025 budget and two-year outlook, and further two years
of management projections. Growth rates included in the Board approved 2025 budget and two-year outlook, and
further two years of management projections ranged from 14% to 7% (2023: 12% to 9%). A terminal value of 2%
(2023: 2%) growth into perpetuity was used to extrapolate cash flows beyond the Board approved 2025 budget and
two-year outlook, and further two years of management projections. This growth rate does not exceed the long-term
average growth rate for the industry in which the Group operates.
Sensitivity Analysis:
The key assumptions underlying the impairment review are set out above. Sensitivity analysis has been conducted
using the following sensitivity assumptions: a 5% increase in the discount rate; 10% decline in revenue in each year
of the Board approved 2025 budget and two-year outlook, and further two years of management projections and
nil terminal value growth. Under each scenario no impairment was identified.
Sensitivity analysis has been completed on key assumptions in isolation and in combination, and the headroom
included is significant. The key assumptions are discount factor, long term growth rates and growth rates for each
of the Board approved 2025 budget and two-year outlook, and further two years of management projections.
From our sensitivity analysis we identified that the post-tax discount rate would need to increase by 38.95% to result
in impairment. Management consider this scenario to be very unlikely.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00199": { "value": "11. Intangible Assets
The table below shows the movements in intangible assets for the year:
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Capitalised
\u00a0
\u00a0 \u00a0
Domain
\u00a0
Affiliates
development
\u00a0
\u00a0
Goodwill
names
Technology
contracts
costs
Total
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Cost
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
47.2
214.8
14.1
5.5
26.9
308.5
Additions
\u2013
\u2013
\u2013
\u2013
4.0
4.0
Balance at 31 December 2023
47.2
214.8
14.1
5.5
30.9
312.5
Additions
\u2013
\u2013
\u2013
\u2013
5.5
5.5
Balance at 31 December 2024
47.2
214.8
14.1
5.5
36.4
318.0
Accumulated amortisation
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
and impairment
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
(29.4)
(166.1)
(14.1)
(5.5)
(20.1)
(235.2)
Charge for year
\u2013
(7.8)
\u2013
\u2013
(3.0)
(10.8)
Balance at 31 December 2023
(29.4)
(173.9)
(14.1)
(5.5)
(23.1)
(246)
Charge for year
\u2013
(4.9)
\u2013
\u2013
(3.6)
(8.5)
Balance at 31 December 2024
(29.4)
(178.8)
(14.1)
(5.5)
(26.7)
(254.5)
Carrying amount
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2023
17.8
40.9
\u2013
\u2013
7.8
66.5
At 31 December 2024
17.8
36.0
\u2013
\u2013
9.7
63.5
\n
Capitalised development cost additions during the year comprised of internal staff costs of \u20ac3.7 million (2023:
\u20ac2.9 million) and other internally generated additions of \u20ac1.8 million (2023: \u20ac1.1 million). Development costs have
been capitalised in accordance with IAS 38 Intangible Assets and are therefore not treated, for dividend purposes,
as a realised loss. Hostelworld continue to utilise affiliate contracts to generate revenue and continue to pay affiliate
partner commissions.
Impairment Review:
The carrying value of the capitalised development costs balance at 31 December 2024 is \u20ac9.7 million (2023: \u20ac7.8 million).
The useful life of development costs is dependent on the nature of the project capitalised and varies from 2-5 years.
An impairment review is performed annually to ensure that the economic benefit expected to be derived from the
capitalised development cost project has occurred. No issue arose on this review, management area satisfied with
the carrying value of each capitalised project and no impairments were recognised in 2024 or 2023.
The carrying value of the goodwill balance at 31 December 2024 is \u20ac17.8 million (2023: \u20ac17.8 million) and relates to
an investment in Hostelworld by the Group in 2009. Goodwill, which has an indefinite useful life, is subject to annual
impairment testing, or more frequent testing if there are indicators of impairment. Following impairment testing based
on the assumptions below, no impairment was recognised for goodwill in the current or prior year.
The carrying value of the Group\u2019s domain names and technology assets, referred to henceforth as \u2018intellectual
property\u2019 at 31 December 2024 is \u20ac36.0 million (2023: \u20ac40.9 million). Following impairment testing based on the
assumptions below, no impairment was recognised for the Group\u2019s intellectual property in the current or prior year.
Cash Generating Unit:
The Group\u2019s goodwill and intellectual property are allocated to a single CGU, encompassing goodwill, intellectual
property, trademarks, and the Hostelworld domains and apps, as well as the back-end property management system
and technology used by hostels. This singular CGU reflects the Group\u2019s focus on Hostelworld as the main trading
brand, where future investment and marketing are concentrated.
The recoverable amount of the goodwill and intellectual property allocated to the singular CGU is determined based
on a value in use basis. The key assumptions for calculating value in use of the CGU are discount rates, growth rates
and cash flows as described below. All three assumptions are based on the Group\u2019s budgeting and forecasting
process which we describe in detail.
Current Year Discount Rate Applied:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
Pre-tax discount rate
16.68%
17.52%
Post-tax discount rate
12.90%
13.70%
\n
The discount rates are based on the Group\u2019s weighted average cost of capital (\u201cWACC\u201d), calculated using the Capital
Asset Pricing Model adjusted for the Group\u2019s specific beta coefficient together with a company size premium.
As using the Group\u2019s WACC to derive a discount rate, post-tax discount rates have been applied to post-tax cash flows.
The Irish corporation tax rate of 12.5% has been used in deriving post-tax cash flows as most Group profits will be
taxed at this rate. The impact of using a post-tax discount rate over a pre-tax discount rate has been assessed and
gives rise to no material difference.
Discount rates have decreased year-on-year primarily driven by a decrease in government bond rates.
Cash Flows:
The cash flow projections are based on a Board approved 2025 budget and two-year outlook, and further two years
of management projections described previously and is consistent with the forecasts used for the Group\u2019s review of
deferred tax recoverability, going concern and viability assessments. In preparing the Board approved 2025 budget
and two-year outlook, and further two years of management projections, management have based projections on
historical performance, together with management\u2019s expectation of future trends. Management have also considered
the Group\u2019s history of earnings and core strategic initiatives including improving the competitiveness of our core OTA
business and platform modernisation.
Within cash flows, management have also considered capital expenditure requirements to maintain the CGU
performance and profitability. Working capital requirements are forecast to move in line with activity.
Further detail on how we have viewed climate related risks is set out in our material accounting policies on page 170.
Growth Rates:
Growth rates are assessed based on the Board approved 2025 budget and two-year outlook, and further two years
of management projections. Growth rates included in the Board approved 2025 budget and two-year outlook, and
further two years of management projections ranged from 14% to 7% (2023: 12% to 9%). A terminal value of 2%
(2023: 2%) growth into perpetuity was used to extrapolate cash flows beyond the Board approved 2025 budget and
two-year outlook, and further two years of management projections. This growth rate does not exceed the long-term
average growth rate for the industry in which the Group operates.
Sensitivity Analysis:
The key assumptions underlying the impairment review are set out above. Sensitivity analysis has been conducted
using the following sensitivity assumptions: a 5% increase in the discount rate; 10% decline in revenue in each year
of the Board approved 2025 budget and two-year outlook, and further two years of management projections and
nil terminal value growth. Under each scenario no impairment was identified.
Sensitivity analysis has been completed on key assumptions in isolation and in combination, and the headroom
included is significant. The key assumptions are discount factor, long term growth rates and growth rates for each
of the Board approved 2025 budget and two-year outlook, and further two years of management projections.
From our sensitivity analysis we identified that the post-tax discount rate would need to increase by 38.95% to result
in impairment. Management consider this scenario to be very unlikely.
12. Property, Plant and Equipment
The table below shows the movements in property, plant and equipment for the year:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Right-of-use
Leasehold
\u00a0 \u00a0 \u00a0
\u00a0
assets (leasehold
property
Fixtures &
Computer
\u00a0
\u00a0
property)
improvements
equipment
equipment
Total
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Cost
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
1.3
0.5
0.2
0.4
2.4
Additions
1.2
\u2013
\u2013
0.1
1.3
Disposals
(1.1)
(0.5)
(0.2)
(0.1)
(1.9)
Balance at 31 December 2023
1.4
\u2013
\u2013
0.4
1.8
Additions
0.5
\u00a0
\u2013
0.1
0.6
Disposals
(1.2)
\u2013
\u2013
(0.1)
(1.3)
Balance at 31 December 2024
0.7
\u2013
\u2013
0.4
1.1
Accumulated depreciation
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
(0.8)
(0.5)
(0.1)
(0.2)
(1.6)
Charge for year
(0.8)
\u2013
(0.1)
(0.1)
(1.0)
Disposals
0.8
0.5
0.2
0.1
1.6
Balance at 31 December 2023
(0.8)
\u2013
\u2013
(0.2)
(1.0)
Charge for year
(0.5)
\u2013
\u2013
(0.1)
(0.6)
Disposals
0.9
\u2013
\u2013
0.1
1.0
Balance at 31 December 2024
(0.4)
\u2013
\u2013
(0.2)
(0.6)
Carrying amount
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2023
0.6
\u2013
\u2013
0.2
0.8
At 31 December 2024
0.3
\u2013
\u2013
0.2
0.5
\n
Right-of-use assets relate to the Group\u2019s lease commitments for office space in Ireland, Portugal, Australia and China.
Further detail is included in note 15. The average remaining lease term of leases entered at 31 December 2024 is less
than 1 year (2023: less than one year). Disposals in the current year relating to an exit of a lease agreement for the
Dublin office. Additions in the current year relate to new lease agreements entered in Dublin, Portugal and
Australia. The maturity analysis of lease liabilities is presented in note 15.
13. Deferred Taxation
The following are the major deferred taxation assets recognised by the Group and movements thereon during the
current and prior reporting year. Deferred tax assets primarily relating to temporary differences between the carrying
value of intangible assets and their tax base. The Group also has a deferred tax liability relating to lease commitments
which is immaterial to disclose.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Intangible
\u00a0
Losses and
\u00a0
\u00a0
assets
Property, plant
interest relief
Total
\u00a0
\u20ac\u2019m
and equipment \u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
At 01 January 2023
9.0
0.1
\u2013
9.1
Credit/(charge) to income statement
1.0
(0.1)
5.5
6.4
At 01 January 2024
10.0
\u2013
5.5
15.5
Charge to income statement
(1.3)
\u2013
(0.4)
(1.7)
At 31 December 2024
8.7
\u2013
5.1
13.8
In the prior year the Group recognised a deferred tax asset relating COVID-19 trading losses and interest relief which
can be carried forward. There is no expiry on these assets. A deferred tax asset has been recognised on the basis
that the realisation of the related tax benefit through future taxable profits is probable. In assessing the recoverability
of deferred tax assets arising from the carry forward of unused tax losses and capital allowances, the Group considered
the following:
\u2022
The Group considered the location of the taxable entities. In the Group all tax losses, interest tax relief and intangible
assets arose from Hostelworld.com Limited, the main trading entity, which is located in Ireland. Please see further
details in note 26 which includes a full list of subsidiaries.
\u2022
The Group has considered the Board approved 2025 budget and two-year outlook, and further two years of
management projections, and a long term growth rate of 2% thereafter, that is consistent with the forecasts used
for the Group\u2019s review of impairment, going concern and viability assessments. Whilst the forecasts include
inherent estimation uncertainty, the Group determined that there would be sufficient taxable income generated
to realise the benefit of the deferred tax assets and no reasonably possible change to key assumptions would
result in a material reduction in forecast headroom of tax profits. On this basis, the Group concluded that there is
not a significant risk of a material adjustment to the carrying amount of the deferred tax asset.
\u2022
The Group made a significant judgement on the timing of utilising the unused tax losses, as detailed in note 2
key sources of estimation uncertainty.
The Group does not have any unrecognised deferred tax asset.
The total tax charge in future periods will be affected by any changes to the applicable tax rates in force in jurisdictions
in which the Group operates and other relevant changes in tax legislation.
14. Investment in Associate
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Opening balance
1.1
1.0
Share of results of associate
0.1
0.1
Impairment in investment
(1.2)
\u2013
Closing balance
\u2013
1.1
\n
The Group holds an investment in Goki Pty Limited, an Australian resident company. Goki Pty Limited\u2019s principal
activity is the sale of locks and supporting technology systems, and its principal place of business is Australia. The
Group controls 31.5% of the voting rights and holds one Board seat, out of four. The Group has significant influence
but not control over the entity, due to the nature of its voting rights and therefore accounts for it as an associate using
the equity method.
Impairment Review
Although the Group incurred a profit in their share of results in the associate in the current year this largely arose from
H1 2024 trading which deteriorated over H2 2024. At 31 December 2024 the Group recognised an impairment loss
in the Consolidated Income Statement for the full \u20ac1.2 million carrying value at 31 December 2024. This was driven
by the H2 decline in the associate\u2019s financial performance and based on future projections received from Goki Pty
Limited which do not support profitability driven by unfavourable changes in market conditions including increased
competition and inventory supply issues.
The recoverable amount of the investment was assessed as the higher of value in use and fair value less costs of
\n
disposal. Due to the commercial difficulties being experienced by Goki Pty Limited forecasting is limited to an immediate
\n
short-term outlook meaning a lack of forecasted future cash flows to support a value in use amount. The fair value
\n
less costs of disposal is considered to be nil due to the commercial difficulties being experienced.
\n
Summarised financial information in respect of Goki Pty Limited is set out below. This represents the amounts in
\n
Goki Pty Limited\u2019s financial statements prepared in accordance with IFRSs.
\n
Statement of Financial Position of Goki Pty Limited as at 31 December 2024:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Non-current assets
\u2013
\u2013
Current assets
0.6
1.2
Current liabilities
(0.3)
(1.1)
Equity attributable to owners of the company
0.3
0.1
\n
Income Statement of Goki Pty Limited for the Year Ended 31 December 2024:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Revenue
1.5
2
Profit after tax
0.2
0.4
Total comprehensive profit
0.2
0.4
Group share of results of associate
0.1
0.1
\n
Reconciliation of the above summarised financial information to the carrying amount of the Group\u2019s interest in Goki
\n
Pty Limited recognised in the consolidated financial statements:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Net assets of Goki Pty Limited
0.3
0.1
Proportion of the Group\u2019s ownership interest in the associate
31.5%
31.5%
Group share of net assets
0.1
\u2013
Goodwill and transaction costs
1.9
1.9
Other adjustments
(0.8)
(0.8)
Impairment of investment in associate
(1.2)
\u2013
Carrying amount of the Group\u2019s interest in associate
\u2013
1.1
\n
Other adjustments relate to the elimination of the Group\u2019s 31.5% (2023: 31.5%) equity investment within the net assets
\n
of Goki Pty Limited and amounts to 31.5% (2023: 31.5%) of the share capital of Goki Pty Limited.
\n
Convertible Loan Note
\n
On 31 May 2022 Goki Pty Limited entered a USD $1.0 million convertible note subscription deed with an Australian
\n
special purpose vehicle. It is unsecured facility, bears no interest and is convertible to 10% of the ordinary shareholding
\n
of Goki Pty Limited, at the discretion of either party. If the noteholder coverts to ordinary share of Goki Pty Limited,
\n
it would result in the Group\u2019s shareholding reducing to 28.6%. At 31 December 2024 \u20ac0.2 million (2023: \u20ac0.9 million)
\nremains outstanding in respect of this loan note. There has not been any conversion to ordinary shares.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00197": { "value": "11. Intangible Assets
The table below shows the movements in intangible assets for the year:
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Capitalised
\u00a0
\u00a0 \u00a0
Domain
\u00a0
Affiliates
development
\u00a0
\u00a0
Goodwill
names
Technology
contracts
costs
Total
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Cost
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
47.2
214.8
14.1
5.5
26.9
308.5
Additions
\u2013
\u2013
\u2013
\u2013
4.0
4.0
Balance at 31 December 2023
47.2
214.8
14.1
5.5
30.9
312.5
Additions
\u2013
\u2013
\u2013
\u2013
5.5
5.5
Balance at 31 December 2024
47.2
214.8
14.1
5.5
36.4
318.0
Accumulated amortisation
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
and impairment
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
(29.4)
(166.1)
(14.1)
(5.5)
(20.1)
(235.2)
Charge for year
\u2013
(7.8)
\u2013
\u2013
(3.0)
(10.8)
Balance at 31 December 2023
(29.4)
(173.9)
(14.1)
(5.5)
(23.1)
(246)
Charge for year
\u2013
(4.9)
\u2013
\u2013
(3.6)
(8.5)
Balance at 31 December 2024
(29.4)
(178.8)
(14.1)
(5.5)
(26.7)
(254.5)
Carrying amount
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2023
17.8
40.9
\u2013
\u2013
7.8
66.5
At 31 December 2024
17.8
36.0
\u2013
\u2013
9.7
63.5
\n
Capitalised development cost additions during the year comprised of internal staff costs of \u20ac3.7 million (2023:
\u20ac2.9 million) and other internally generated additions of \u20ac1.8 million (2023: \u20ac1.1 million). Development costs have
been capitalised in accordance with IAS 38 Intangible Assets and are therefore not treated, for dividend purposes,
as a realised loss. Hostelworld continue to utilise affiliate contracts to generate revenue and continue to pay affiliate
partner commissions.
Impairment Review:
The carrying value of the capitalised development costs balance at 31 December 2024 is \u20ac9.7 million (2023: \u20ac7.8 million).
The useful life of development costs is dependent on the nature of the project capitalised and varies from 2-5 years.
An impairment review is performed annually to ensure that the economic benefit expected to be derived from the
capitalised development cost project has occurred. No issue arose on this review, management area satisfied with
the carrying value of each capitalised project and no impairments were recognised in 2024 or 2023.
The carrying value of the goodwill balance at 31 December 2024 is \u20ac17.8 million (2023: \u20ac17.8 million) and relates to
an investment in Hostelworld by the Group in 2009. Goodwill, which has an indefinite useful life, is subject to annual
impairment testing, or more frequent testing if there are indicators of impairment. Following impairment testing based
on the assumptions below, no impairment was recognised for goodwill in the current or prior year.
The carrying value of the Group\u2019s domain names and technology assets, referred to henceforth as \u2018intellectual
property\u2019 at 31 December 2024 is \u20ac36.0 million (2023: \u20ac40.9 million). Following impairment testing based on the
assumptions below, no impairment was recognised for the Group\u2019s intellectual property in the current or prior year.
Cash Generating Unit:
The Group\u2019s goodwill and intellectual property are allocated to a single CGU, encompassing goodwill, intellectual
property, trademarks, and the Hostelworld domains and apps, as well as the back-end property management system
and technology used by hostels. This singular CGU reflects the Group\u2019s focus on Hostelworld as the main trading
brand, where future investment and marketing are concentrated.
The recoverable amount of the goodwill and intellectual property allocated to the singular CGU is determined based
on a value in use basis. The key assumptions for calculating value in use of the CGU are discount rates, growth rates
and cash flows as described below. All three assumptions are based on the Group\u2019s budgeting and forecasting
process which we describe in detail.
Current Year Discount Rate Applied:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
Pre-tax discount rate
16.68%
17.52%
Post-tax discount rate
12.90%
13.70%
\n
The discount rates are based on the Group\u2019s weighted average cost of capital (\u201cWACC\u201d), calculated using the Capital
Asset Pricing Model adjusted for the Group\u2019s specific beta coefficient together with a company size premium.
As using the Group\u2019s WACC to derive a discount rate, post-tax discount rates have been applied to post-tax cash flows.
The Irish corporation tax rate of 12.5% has been used in deriving post-tax cash flows as most Group profits will be
taxed at this rate. The impact of using a post-tax discount rate over a pre-tax discount rate has been assessed and
gives rise to no material difference.
Discount rates have decreased year-on-year primarily driven by a decrease in government bond rates.
Cash Flows:
The cash flow projections are based on a Board approved 2025 budget and two-year outlook, and further two years
of management projections described previously and is consistent with the forecasts used for the Group\u2019s review of
deferred tax recoverability, going concern and viability assessments. In preparing the Board approved 2025 budget
and two-year outlook, and further two years of management projections, management have based projections on
historical performance, together with management\u2019s expectation of future trends. Management have also considered
the Group\u2019s history of earnings and core strategic initiatives including improving the competitiveness of our core OTA
business and platform modernisation.
Within cash flows, management have also considered capital expenditure requirements to maintain the CGU
performance and profitability. Working capital requirements are forecast to move in line with activity.
Further detail on how we have viewed climate related risks is set out in our material accounting policies on page 170.
Growth Rates:
Growth rates are assessed based on the Board approved 2025 budget and two-year outlook, and further two years
of management projections. Growth rates included in the Board approved 2025 budget and two-year outlook, and
further two years of management projections ranged from 14% to 7% (2023: 12% to 9%). A terminal value of 2%
(2023: 2%) growth into perpetuity was used to extrapolate cash flows beyond the Board approved 2025 budget and
two-year outlook, and further two years of management projections. This growth rate does not exceed the long-term
average growth rate for the industry in which the Group operates.
Sensitivity Analysis:
The key assumptions underlying the impairment review are set out above. Sensitivity analysis has been conducted
using the following sensitivity assumptions: a 5% increase in the discount rate; 10% decline in revenue in each year
of the Board approved 2025 budget and two-year outlook, and further two years of management projections and
nil terminal value growth. Under each scenario no impairment was identified.
Sensitivity analysis has been completed on key assumptions in isolation and in combination, and the headroom
included is significant. The key assumptions are discount factor, long term growth rates and growth rates for each
of the Board approved 2025 budget and two-year outlook, and further two years of management projections.
From our sensitivity analysis we identified that the post-tax discount rate would need to increase by 38.95% to result
in impairment. Management consider this scenario to be very unlikely.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00200": { "value": "Impairment Review:
The carrying value of the capitalised development costs balance at 31 December 2024 is \u20ac9.7 million (2023: \u20ac7.8 million).
The useful life of development costs is dependent on the nature of the project capitalised and varies from 2-5 years.
An impairment review is performed annually to ensure that the economic benefit expected to be derived from the
capitalised development cost project has occurred. No issue arose on this review, management area satisfied with
the carrying value of each capitalised project and no impairments were recognised in 2024 or 2023.
The carrying value of the goodwill balance at 31 December 2024 is \u20ac17.8 million (2023: \u20ac17.8 million) and relates to
an investment in Hostelworld by the Group in 2009. Goodwill, which has an indefinite useful life, is subject to annual
impairment testing, or more frequent testing if there are indicators of impairment. Following impairment testing based
on the assumptions below, no impairment was recognised for goodwill in the current or prior year.
The carrying value of the Group\u2019s domain names and technology assets, referred to henceforth as \u2018intellectual
property\u2019 at 31 December 2024 is \u20ac36.0 million (2023: \u20ac40.9 million). Following impairment testing based on the
assumptions below, no impairment was recognised for the Group\u2019s intellectual property in the current or prior year.
Cash Generating Unit:
The Group\u2019s goodwill and intellectual property are allocated to a single CGU, encompassing goodwill, intellectual
property, trademarks, and the Hostelworld domains and apps, as well as the back-end property management system
and technology used by hostels. This singular CGU reflects the Group\u2019s focus on Hostelworld as the main trading
brand, where future investment and marketing are concentrated.
The recoverable amount of the goodwill and intellectual property allocated to the singular CGU is determined based
on a value in use basis. The key assumptions for calculating value in use of the CGU are discount rates, growth rates
and cash flows as described below. All three assumptions are based on the Group\u2019s budgeting and forecasting
process which we describe in detail.
Current Year Discount Rate Applied:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
Pre-tax discount rate
16.68%
17.52%
Post-tax discount rate
12.90%
13.70%
\n
The discount rates are based on the Group\u2019s weighted average cost of capital (\u201cWACC\u201d), calculated using the Capital
Asset Pricing Model adjusted for the Group\u2019s specific beta coefficient together with a company size premium.
As using the Group\u2019s WACC to derive a discount rate, post-tax discount rates have been applied to post-tax cash flows.
The Irish corporation tax rate of 12.5% has been used in deriving post-tax cash flows as most Group profits will be
taxed at this rate. The impact of using a post-tax discount rate over a pre-tax discount rate has been assessed and
gives rise to no material difference.
Discount rates have decreased year-on-year primarily driven by a decrease in government bond rates.
Cash Flows:
The cash flow projections are based on a Board approved 2025 budget and two-year outlook, and further two years
of management projections described previously and is consistent with the forecasts used for the Group\u2019s review of
deferred tax recoverability, going concern and viability assessments. In preparing the Board approved 2025 budget
and two-year outlook, and further two years of management projections, management have based projections on
historical performance, together with management\u2019s expectation of future trends. Management have also considered
the Group\u2019s history of earnings and core strategic initiatives including improving the competitiveness of our core OTA
business and platform modernisation.
Within cash flows, management have also considered capital expenditure requirements to maintain the CGU
performance and profitability. Working capital requirements are forecast to move in line with activity.
Further detail on how we have viewed climate related risks is set out in our material accounting policies on page 170.
Growth Rates:
Growth rates are assessed based on the Board approved 2025 budget and two-year outlook, and further two years
of management projections. Growth rates included in the Board approved 2025 budget and two-year outlook, and
further two years of management projections ranged from 14% to 7% (2023: 12% to 9%). A terminal value of 2%
(2023: 2%) growth into perpetuity was used to extrapolate cash flows beyond the Board approved 2025 budget and
two-year outlook, and further two years of management projections. This growth rate does not exceed the long-term
average growth rate for the industry in which the Group operates.
Sensitivity Analysis:
The key assumptions underlying the impairment review are set out above. Sensitivity analysis has been conducted
using the following sensitivity assumptions: a 5% increase in the discount rate; 10% decline in revenue in each year
of the Board approved 2025 budget and two-year outlook, and further two years of management projections and
nil terminal value growth. Under each scenario no impairment was identified.
Sensitivity analysis has been completed on key assumptions in isolation and in combination, and the headroom
included is significant. The key assumptions are discount factor, long term growth rates and growth rates for each
of the Board approved 2025 budget and two-year outlook, and further two years of management projections.
From our sensitivity analysis we identified that the post-tax discount rate would need to increase by 38.95% to result
in impairment. Management consider this scenario to be very unlikely.", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00201": { "value": "12. Property, Plant and Equipment
The table below shows the movements in property, plant and equipment for the year:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Right-of-use
Leasehold
\u00a0 \u00a0 \u00a0
\u00a0
assets (leasehold
property
Fixtures &
Computer
\u00a0
\u00a0
property)
improvements
equipment
equipment
Total
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Cost
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
1.3
0.5
0.2
0.4
2.4
Additions
1.2
\u2013
\u2013
0.1
1.3
Disposals
(1.1)
(0.5)
(0.2)
(0.1)
(1.9)
Balance at 31 December 2023
1.4
\u2013
\u2013
0.4
1.8
Additions
0.5
\u00a0
\u2013
0.1
0.6
Disposals
(1.2)
\u2013
\u2013
(0.1)
(1.3)
Balance at 31 December 2024
0.7
\u2013
\u2013
0.4
1.1
Accumulated depreciation
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Balance at 01 January 2023
(0.8)
(0.5)
(0.1)
(0.2)
(1.6)
Charge for year
(0.8)
\u2013
(0.1)
(0.1)
(1.0)
Disposals
0.8
0.5
0.2
0.1
1.6
Balance at 31 December 2023
(0.8)
\u2013
\u2013
(0.2)
(1.0)
Charge for year
(0.5)
\u2013
\u2013
(0.1)
(0.6)
Disposals
0.9
\u2013
\u2013
0.1
1.0
Balance at 31 December 2024
(0.4)
\u2013
\u2013
(0.2)
(0.6)
Carrying amount
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2023
0.6
\u2013
\u2013
0.2
0.8
At 31 December 2024
0.3
\u2013
\u2013
0.2
0.5
\n
Right-of-use assets relate to the Group\u2019s lease commitments for office space in Ireland, Portugal, Australia and China.
Further detail is included in note 15. The average remaining lease term of leases entered at 31 December 2024 is less
than 1 year (2023: less than one year). Disposals in the current year relating to an exit of a lease agreement for the
Dublin office. Additions in the current year relate to new lease agreements entered in Dublin, Portugal and
Australia. The maturity analysis of lease liabilities is presented in note 15.", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00202": { "value": "13. Deferred Taxation
The following are the major deferred taxation assets recognised by the Group and movements thereon during the
current and prior reporting year. Deferred tax assets primarily relating to temporary differences between the carrying
value of intangible assets and their tax base. The Group also has a deferred tax liability relating to lease commitments
which is immaterial to disclose.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Intangible
\u00a0
Losses and
\u00a0
\u00a0
assets
Property, plant
interest relief
Total
\u00a0
\u20ac\u2019m
and equipment \u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
At 01 January 2023
9.0
0.1
\u2013
9.1
Credit/(charge) to income statement
1.0
(0.1)
5.5
6.4
At 01 January 2024
10.0
\u2013
5.5
15.5
Charge to income statement
(1.3)
\u2013
(0.4)
(1.7)
At 31 December 2024
8.7
\u2013
5.1
13.8
In the prior year the Group recognised a deferred tax asset relating COVID-19 trading losses and interest relief which
can be carried forward. There is no expiry on these assets. A deferred tax asset has been recognised on the basis
that the realisation of the related tax benefit through future taxable profits is probable. In assessing the recoverability
of deferred tax assets arising from the carry forward of unused tax losses and capital allowances, the Group considered
the following:
\u2022
The Group considered the location of the taxable entities. In the Group all tax losses, interest tax relief and intangible
assets arose from Hostelworld.com Limited, the main trading entity, which is located in Ireland. Please see further
details in note 26 which includes a full list of subsidiaries.
\u2022
The Group has considered the Board approved 2025 budget and two-year outlook, and further two years of
management projections, and a long term growth rate of 2% thereafter, that is consistent with the forecasts used
for the Group\u2019s review of impairment, going concern and viability assessments. Whilst the forecasts include
inherent estimation uncertainty, the Group determined that there would be sufficient taxable income generated
to realise the benefit of the deferred tax assets and no reasonably possible change to key assumptions would
result in a material reduction in forecast headroom of tax profits. On this basis, the Group concluded that there is
not a significant risk of a material adjustment to the carrying amount of the deferred tax asset.
\u2022
The Group made a significant judgement on the timing of utilising the unused tax losses, as detailed in note 2
key sources of estimation uncertainty.
The Group does not have any unrecognised deferred tax asset.
The total tax charge in future periods will be affected by any changes to the applicable tax rates in force in jurisdictions
in which the Group operates and other relevant changes in tax legislation.", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00203": { "value": "14. Investment in Associate \n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Opening balance
1.1
1.0
Share of results of associate
0.1
0.1
Impairment in investment
(1.2)
\u2013
Closing balance
\u2013
1.1
\n
The Group holds an investment in Goki Pty Limited, an Australian resident company. Goki Pty Limited\u2019s principal
activity is the sale of locks and supporting technology systems, and its principal place of business is Australia. The
Group controls 31.5% of the voting rights and holds one Board seat, out of four. The Group has significant influence
but not control over the entity, due to the nature of its voting rights and therefore accounts for it as an associate using
the equity method.
Impairment Review
Although the Group incurred a profit in their share of results in the associate in the current year this largely arose from
H1 2024 trading which deteriorated over H2 2024. At 31 December 2024 the Group recognised an impairment loss
in the Consolidated Income Statement for the full \u20ac1.2 million carrying value at 31 December 2024. This was driven
by the H2 decline in the associate\u2019s financial performance and based on future projections received from Goki Pty
Limited which do not support profitability driven by unfavourable changes in market conditions including increased
competition and inventory supply issues.
\n\n
The recoverable amount of the investment was assessed as the higher of value in use and fair value less costs of
\n
disposal. Due to the commercial difficulties being experienced by Goki Pty Limited forecasting is limited to an immediate
\n
short-term outlook meaning a lack of forecasted future cash flows to support a value in use amount. The fair value
\n
less costs of disposal is considered to be nil due to the commercial difficulties being experienced.
\n
Summarised financial information in respect of Goki Pty Limited is set out below. This represents the amounts in
\n
Goki Pty Limited\u2019s financial statements prepared in accordance with IFRSs.
\n
Statement of Financial Position of Goki Pty Limited as at 31 December 2024:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Non-current assets
\u2013
\u2013
Current assets
0.6
1.2
Current liabilities
(0.3)
(1.1)
Equity attributable to owners of the company
0.3
0.1
\n
Income Statement of Goki Pty Limited for the Year Ended 31 December 2024:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Revenue
1.5
2
Profit after tax
0.2
0.4
Total comprehensive profit
0.2
0.4
Group share of results of associate
0.1
0.1
\n
Reconciliation of the above summarised financial information to the carrying amount of the Group\u2019s interest in Goki
\n
Pty Limited recognised in the consolidated financial statements:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Net assets of Goki Pty Limited
0.3
0.1
Proportion of the Group\u2019s ownership interest in the associate
31.5%
31.5%
Group share of net assets
0.1
\u2013
Goodwill and transaction costs
1.9
1.9
Other adjustments
(0.8)
(0.8)
Impairment of investment in associate
(1.2)
\u2013
Carrying amount of the Group\u2019s interest in associate
\u2013
1.1
\n
Other adjustments relate to the elimination of the Group\u2019s 31.5% (2023: 31.5%) equity investment within the net assets
\n
of Goki Pty Limited and amounts to 31.5% (2023: 31.5%) of the share capital of Goki Pty Limited.
\n
Convertible Loan Note
\n
On 31 May 2022 Goki Pty Limited entered a USD $1.0 million convertible note subscription deed with an Australian
\n
special purpose vehicle. It is unsecured facility, bears no interest and is convertible to 10% of the ordinary shareholding
\n
of Goki Pty Limited, at the discretion of either party. If the noteholder coverts to ordinary share of Goki Pty Limited,
\n
it would result in the Group\u2019s shareholding reducing to 28.6%. At 31 December 2024 \u20ac0.2 million (2023: \u20ac0.9 million)
\nremains outstanding in respect of this loan note. There has not been any conversion to ordinary shares.", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00204": { "value": "15. Lease Liabilities
Lease liabilities relate to the Group\u2019s lease commitments for office space in Ireland, Portugal, Australia and China.
The movement in the Group\u2019s right-of-use assets relating to additions and disposals during the period is set out in
note 12. The movement in the Group\u2019s lease liabilities during the period is as follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Opening lease liability
0.6
0.6
Additions
0.5
1.2
Disposals
(0.3)
(0.3)
Payments
(0.5)
(0.9)
Closing lease liability
0.3
0.6
\n
Total lease payments included in the cash flow amount to \u20ac0.5 million (2023: \u20ac0.9 million) relating to lease payments
and related foreign exchange differences on lease payments. There is a clear payment schedule associated with our
lease liabilities and based on our cash flow forecasts the Group does not face any significant liquidity risk with regards
to its lease liabilities.
Lease interest expense is immaterial to disclose separately here.
The maturity analysis of these lease liabilities is as follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Maturity analysis
\u00a0 \u00a0
Within one year
0.3
0.5
Between one and five years
\u2013
0.1
Less unearned interest
\u2013
\u2013
Total
0.3
0.6
\n
These liabilities are classified in the Consolidated Statement of Financial Position as:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Non-current lease liabilities
\u2013
0.1
Current lease liabilities
0.3
0.5
Total
0.3
0.6
\n
The Group has used the following practical expedients permitted by the standard on transition and at each reporting
date \u2013 the use of a single discount rate to a portfolio of leases with reasonably similar characteristics, the accounting
for operating leases with a remaining lease term of less than 12 months as at 01 January 2020 as short-term leases
and the use of hindsight in determining the lease term where the contract contains options to extend or terminate
the lease.
Amounts Recognised in Consolidated Income Statement:
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Depreciation expense on right-of-use assets
0.5
0.8
Total
0.5
0.8
\n
Lease interest expense is immaterial to disclose separately here. At 31 December 2024, the Group is not committed
\nto any short-term leases (2023: \u20acnil).", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00205": { "value": "16. Trade and Other Receivables
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Amounts falling due within one year
\u00a0 \u00a0
Trade receivables
1.2
0.8
Prepayments and other receivables
1.8
1.2
Value added tax
1.5
1.3
Total
4.5
3.3
\n\n
Due to their short-term nature, the carrying value of trade and other receivables is deemed to be their fair value. Trade
\n
receivables are non-interest bearing and trade receivable days are 4 days (2023: 3 days).
\n
Trade receivables primarily relate to VAT to be recovered from Irish hostels and amounts due from the Group\u2019s payment
\n
processing agents, which are due for maturity within 5 days.
\n
The Group always recognises lifetime ECLs for trade receivables estimated using a provision matrix based on the
\n
Group\u2019s historical credit loss experience including an assessment of the volume of debt adjusted for factors that are
\n
specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast
\n
direction of conditions at the reporting date, including time value of money where appropriate. The balance and
\n
the movement during the year of the ECL in the current and prior year is less than \u20ac0.1 million and is deemed to be
\n
immaterial for separate disclosure.
\nValue added tax is an amount recoverable from the Irish Revenue Commissioners.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00206": { "value": "
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Amounts falling due within one year
\u00a0 \u00a0
Trade receivables
1.2
0.8
Prepayments and other receivables
1.8
1.2
Value added tax
1.5
1.3
Total
4.5
3.3
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00207": { "value": "The Group always recognises lifetime ECLs for trade receivables estimated using a provision matrix based on the
Group\u2019s historical credit loss experience including an assessment of the volume of debt adjusted for factors that are
\n
specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast
\n
direction of conditions at the reporting date, including time value of money where appropriate. The balance and
\n
the movement during the year of the ECL in the current and prior year is less than \u20ac0.1 million and is deemed to be
\n
immaterial for separate disclosure.
Value added tax is an amount recoverable from the Irish Revenue Commissioners.", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00208": { "value": "17. Cash and Cash Equivalents \n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Non-current assets
\u00a0 \u00a0
Cash and cash equivalents
\u2013
0.8
Total
\u2013
0.8
\n
Prior year non-current asset amount of \u20ac0.8 million relates to a rental guarantee in place which has been classified
in non-current assets as the guarantee is in place for a period of longer than 12 months after the balance sheet date.
Current year classification as current is driven by the terms of the rental guarantee which will be discharged in full
in April 2025. As the amount is held in a bank account which can be accessed by the Group the amount has been
disclosed as a cash and cash equivalent.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Current assets
\u00a0 \u00a0
Cash and cash equivalents
8.2
6.7
Total
8.2
6.7
\nBalance of cash and cash equivalents comprise of cash and short-term bank deposits only.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00209": { "value": "\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Non-current assets
\u00a0 \u00a0
Cash and cash equivalents
\u2013
0.8
Total
\u2013
0.8
\n
Prior year non-current asset amount of \u20ac0.8 million relates to a rental guarantee in place which has been classified
in non-current assets as the guarantee is in place for a period of longer than 12 months after the balance sheet date.
Current year classification as current is driven by the terms of the rental guarantee which will be discharged in full
in April 2025. As the amount is held in a bank account which can be accessed by the Group the amount has been
disclosed as a cash and cash equivalent.", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00211": { "value": "18. Share Capital \n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
No of shares
Ordinary
Share
\u00a0
\u00a0
of \u20ac0.01 each
shares
premium
Total
\u00a0
(thousands)
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
At 31 December 2023
123,639
1.3
14.4
15.7
Share issue \u2013 LTIP
1,346
\u2013
\u2013
\u2013
Share issue \u2013 SAYE
5
\u2013
\u2013
\u2013
At 31 December 2024
124,990
1.3
14.4
15.7
\n
The Group has one class of ordinary shares which carries no right to fixed income. The share capital of the Group is
represented by the share capital of the parent company, Hostelworld Group plc. All the Company\u2019s shares are allotted,
called up, fully paid and quoted on the London Stock Exchange and Euronext Dublin.
On 29 April 2024 the Company issued 1,345,870 shares to satisfy long term incentive plan awards in relation to
LTIP 2021 at \u20ac0.01 per share, and on 22 April 2024 the Company issued 5,245 shares to satisfy terms of the SAYE
2020 scheme at \u20ac0.01 per share. Total value of ordinary shares issued in the current year was \u20ac14k (2023: \u20ac61k).", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00210": { "value": "18. Share Capital \n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
No of shares
Ordinary
Share
\u00a0
\u00a0
of \u20ac0.01 each
shares
premium
Total
\u00a0
(thousands)
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
At 31 December 2023
123,639
1.3
14.4
15.7
Share issue \u2013 LTIP
1,346
\u2013
\u2013
\u2013
Share issue \u2013 SAYE
5
\u2013
\u2013
\u2013
At 31 December 2024
124,990
1.3
14.4
15.7
\n
The Group has one class of ordinary shares which carries no right to fixed income. The share capital of the Group is
represented by the share capital of the parent company, Hostelworld Group plc. All the Company\u2019s shares are allotted,
called up, fully paid and quoted on the London Stock Exchange and Euronext Dublin.
On 29 April 2024 the Company issued 1,345,870 shares to satisfy long term incentive plan awards in relation to
LTIP 2021 at \u20ac0.01 per share, and on 22 April 2024 the Company issued 5,245 shares to satisfy terms of the SAYE
2020 scheme at \u20ac0.01 per share. Total value of ordinary shares issued in the current year was \u20ac14k (2023: \u20ac61k).
19. Other Reserves
The analysis of movement in reserves is shown in the Statement of Changes in Equity.
Reconciliation and movement of amounts included in other reserves are set out below:
\u00a0
Foreign currency
Share-based
\u00a0
Total
\u00a0
translation
payment
Warrant
other
\u00a0
reserve
reserve
reserve
reserves
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Balance at 01 January 2023
\u2013
3.3
3.1
6.4
Transfer of exercised and expired share-based awards
\u2013
(2.1)
\u2013
(2.1)
Transfer on exercise, vesting or expiry of warrants
\u2013
\u2013
(3.1)
(3.1)
Credit to equity for equity settled share-based payments
\u2013
1.7
\u2013
1.7
Balance at 31 December 2023
\u2013
2.9
\u2013
2.9
Transfer of exercised and expired share-based awards
\u2013
(1.7)
\u2013
(1.7)
Credit to equity for equity settled share-based payments
\u2013
1.8
\u2013
1.8
Balance at 31 December 2024
\u2013
3.0
\u2013
3.0
\n
Foreign Currency Translation Reserve
The foreign currency reserve reflects the foreign exchange gains and losses arising from the translation of the Group\u2019s
net investment in foreign operations. Exchange differences on translation of foreign operations amounted to a gain
of \u20ac12k for the current year (2023: loss \u20ac24k) which is not considered material for disclosure above.
Share-Based Payment Reserve
The share-based payment reserve reflects the equity settled share-based payment plans in operation by the Group
(note 24).
Warrant Reserve
The warrant reserve was created to account for warrants exercisable by HPS Investment Partners LLC (or subsidiaries
or affiliates thereof). On agreement of terms of the legacy COVID-19 debt facility with HPS, Hostelworld agreed to
issue warrants over 3,315,153 ordinary shares of \u20ac0.01 each in the capital of Hostelworld (equivalent to 2.85% of
Hostelworld\u2019s current issued share capital at the time of issue of the warrants) to HPS. The warrants were exercisable
at any time during the term of the loan and for a twelve-month period following its scheduled termination at an exercise
price of \u20ac0.01 per ordinary share. On 29 March 2023 3,315,153 shares were issued to HPS on issuance of warrants.", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00212": { "value": "19. Other Reserves
The analysis of movement in reserves is shown in the Statement of Changes in Equity.
Reconciliation and movement of amounts included in other reserves are set out below:
\u00a0
Foreign currency
Share-based
\u00a0
Total
\u00a0
translation
payment
Warrant
other
\u00a0
reserve
reserve
reserve
reserves
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Balance at 01 January 2023
\u2013
3.3
3.1
6.4
Transfer of exercised and expired share-based awards
\u2013
(2.1)
\u2013
(2.1)
Transfer on exercise, vesting or expiry of warrants
\u2013
\u2013
(3.1)
(3.1)
Credit to equity for equity settled share-based payments
\u2013
1.7
\u2013
1.7
Balance at 31 December 2023
\u2013
2.9
\u2013
2.9
Transfer of exercised and expired share-based awards
\u2013
(1.7)
\u2013
(1.7)
Credit to equity for equity settled share-based payments
\u2013
1.8
\u2013
1.8
Balance at 31 December 2024
\u2013
3.0
\u2013
3.0
\n
Foreign Currency Translation Reserve
The foreign currency reserve reflects the foreign exchange gains and losses arising from the translation of the Group\u2019s
net investment in foreign operations. Exchange differences on translation of foreign operations amounted to a gain
of \u20ac12k for the current year (2023: loss \u20ac24k) which is not considered material for disclosure above.
Share-Based Payment Reserve
The share-based payment reserve reflects the equity settled share-based payment plans in operation by the Group
(note 24).
Warrant Reserve
The warrant reserve was created to account for warrants exercisable by HPS Investment Partners LLC (or subsidiaries
or affiliates thereof). On agreement of terms of the legacy COVID-19 debt facility with HPS, Hostelworld agreed to
issue warrants over 3,315,153 ordinary shares of \u20ac0.01 each in the capital of Hostelworld (equivalent to 2.85% of
Hostelworld\u2019s current issued share capital at the time of issue of the warrants) to HPS. The warrants were exercisable
at any time during the term of the loan and for a twelve-month period following its scheduled termination at an exercise
price of \u20ac0.01 per ordinary share. On 29 March 2023 3,315,153 shares were issued to HPS on issuance of warrants.", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00213": { "value": "20. Warehoused Payroll Taxes
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Opening balance
9.6
9.4
Repayments made
(3.2)
\u2013
Finance costs (unwind)/costs
(0.2)
0.2
Closing balance
6.2
9.6
\n
The Group availed of the Irish Revenue tax warehousing scheme and deferred payment on all Irish employer taxes
arising during the period from February 2021 to March 2022.
Total warehoused liability as at 31 December 2024 was \u20ac6.2 million (2023: \u20ac9.6 million). Prior year liability included
an interest charge incurred of 3% on the outstanding warehoused liability debt since 01 May 2023. In 2024 the Group
released \u20ac0.2 million of interest, which had not been paid, relating to an announcement by the Revenue Commissioners
on 05 February 2024 that the applicable rate of interest on debt warehoused would retrospectively reduce to 0%.
The Group made an initial down payment of 15% in line with the repayment terms set with the Irish Revenue
Commissioners in May 2024, followed by monthly payments of \u20ac0.2 million thereafter which will continue over a
three-year period to April 2027. This repayment plan is reflected in the classification of the liability between current
and non-current.
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Non-current liability
3.5
6.4
Current liability
2.7
3.2
Total warehoused payroll taxes
6.2
9.6
\n22. Borrowings
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Opening Balance
10.2
31.1
Repayments (HPS)
\u2013
(34.1)
Drawdown (AIB)
\u2013
17.4
Repayments (AIB)
(10.3)
(7.1)
Transaction costs relating to borrowings (AIB)
\u2013
(0.2)
Finance costs
0.4
2.4
Finance costs (exceptional items)
-
2.8
Finance interest paid
(0.3)
(2.1)
Total
\u2013
10.2
\n
In 2021 the Group signed a \u20ac30 million five-year term loan facility with certain investment funds and accounts of
HPS Investment Partners LLC. In May 2023 the facility was repaid in full and refinanced with AIB.
A three-year facility was signed with AIB on 09 May 2023. This facility was comprised of a \u20ac10.0 million term loan
which was repaid in full in June 2024 (\u20ac1.7 million in 2023, \u20ac8.3 million in 2024), a \u20ac7.5 million revolving credit facility
which was repaid in full in February 2024 (\u20ac5.5 million in 2023, \u20ac2.0 million in 2024) and an undrawn \u20ac2.5 million
overdraft. No early repayment fees applied and at the date of repayment all security and covenant requirements
held by AIB were released. The Group continues to hold an undrawn \u20ac2.5 million overdraft facility with AIB retained
for flexibility.
Reduction in interest costs are driven by the refinancing in May 2023, and early repayment of the AIB facilities. Finance
costs expense include non-cash amounts relating to transaction costs capitalised for professional fees incurring on
the initial drawdown of the AIB facility in May 2023.
Borrowings are classified in the Consolidated Statement of Financial Position as:
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Non-current borrowings
\u2013
4.8
Current borrowings
\u2013
5.4
Total
\u2013
10.2
Change in liabilities arising from financing activities:
\u00a0
Lease liabilities
\u00a0 \u00a0
\u00a0
(note 15)
Borrowings
Total debt
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
At 01 January 2023
(0.5)
(31.1)
(31.6)
Financing cash flows
0.9
23.7
24.6
Interest paid (operating activities)
\u2013
2.1
2.1
Other non-cash movements
(1.0)
(4.9)
(5.9)
Balance at 31 December 2023
(0.6)
(10.2)
(10.8)
Financing cash flows
0.5
10.3
10.8
Interest paid (operating activities)
-
0.3
0.3
Other non-cash movements
(0.2)
(0.4)
(0.6)
Balance at 31 December 2024
(0.3)
\u2013
(0.3)
\n
Other non-cash movements for lease liabilities in 2024 and 2023 relate to additions, disposals, lease interest,
a modification and a lease term remeasurement. Other non-cash movements for borrowings in 2024 and 2023
relate to finance costs capitalised on the HPS and AIB term loan facility.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00214": { "value": "20. Warehoused Payroll Taxes
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Opening balance
9.6
9.4
Repayments made
(3.2)
\u2013
Finance costs (unwind)/costs
(0.2)
0.2
Closing balance
6.2
9.6
\n
The Group availed of the Irish Revenue tax warehousing scheme and deferred payment on all Irish employer taxes
arising during the period from February 2021 to March 2022.
Total warehoused liability as at 31 December 2024 was \u20ac6.2 million (2023: \u20ac9.6 million). Prior year liability included
an interest charge incurred of 3% on the outstanding warehoused liability debt since 01 May 2023. In 2024 the Group
released \u20ac0.2 million of interest, which had not been paid, relating to an announcement by the Revenue Commissioners
on 05 February 2024 that the applicable rate of interest on debt warehoused would retrospectively reduce to 0%.
The Group made an initial down payment of 15% in line with the repayment terms set with the Irish Revenue
Commissioners in May 2024, followed by monthly payments of \u20ac0.2 million thereafter which will continue over a
three-year period to April 2027. This repayment plan is reflected in the classification of the liability between current
and non-current.
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Non-current liability
3.5
6.4
Current liability
2.7
3.2
Total warehoused payroll taxes
6.2
9.6
22. Borrowings
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Opening Balance
10.2
31.1
Repayments (HPS)
\u2013
(34.1)
Drawdown (AIB)
\u2013
17.4
Repayments (AIB)
(10.3)
(7.1)
Transaction costs relating to borrowings (AIB)
\u2013
(0.2)
Finance costs
0.4
2.4
Finance costs (exceptional items)
-
2.8
Finance interest paid
(0.3)
(2.1)
Total
\u2013
10.2
\n
In 2021 the Group signed a \u20ac30 million five-year term loan facility with certain investment funds and accounts of
HPS Investment Partners LLC. In May 2023 the facility was repaid in full and refinanced with AIB.
A three-year facility was signed with AIB on 09 May 2023. This facility was comprised of a \u20ac10.0 million term loan
which was repaid in full in June 2024 (\u20ac1.7 million in 2023, \u20ac8.3 million in 2024), a \u20ac7.5 million revolving credit facility
which was repaid in full in February 2024 (\u20ac5.5 million in 2023, \u20ac2.0 million in 2024) and an undrawn \u20ac2.5 million
overdraft. No early repayment fees applied and at the date of repayment all security and covenant requirements
held by AIB were released. The Group continues to hold an undrawn \u20ac2.5 million overdraft facility with AIB retained
for flexibility.
Reduction in interest costs are driven by the refinancing in May 2023, and early repayment of the AIB facilities. Finance
costs expense include non-cash amounts relating to transaction costs capitalised for professional fees incurring on
the initial drawdown of the AIB facility in May 2023.
Borrowings are classified in the Consolidated Statement of Financial Position as:
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Non-current borrowings
\u2013
4.8
Current borrowings
\u2013
5.4
Total
\u2013
10.2
Change in liabilities arising from financing activities:
\u00a0
Lease liabilities
\u00a0 \u00a0
\u00a0
(note 15)
Borrowings
Total debt
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
At 01 January 2023
(0.5)
(31.1)
(31.6)
Financing cash flows
0.9
23.7
24.6
Interest paid (operating activities)
\u2013
2.1
2.1
Other non-cash movements
(1.0)
(4.9)
(5.9)
Balance at 31 December 2023
(0.6)
(10.2)
(10.8)
Financing cash flows
0.5
10.3
10.8
Interest paid (operating activities)
-
0.3
0.3
Other non-cash movements
(0.2)
(0.4)
(0.6)
Balance at 31 December 2024
(0.3)
\u2013
(0.3)
\n
Other non-cash movements for lease liabilities in 2024 and 2023 relate to additions, disposals, lease interest,
a modification and a lease term remeasurement. Other non-cash movements for borrowings in 2024 and 2023
relate to finance costs capitalised on the HPS and AIB term loan facility.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00218": { "value": "
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Current liabilities
\u00a0 \u00a0
Trade payables
4.1
3.3
Accruals and other payables
5.2
5.9
Customer provisions
0.1
1.3
Deferred revenue
3.5
3.9
Payroll taxes (non-warehoused)
0.7
0.6
Total
13.6
15.0
\nReduction in customer provisions relates to an unwind of a refund provision which the Group now consider that the
possibility of an outflow of economic benefit is remote, with a release recognised in other income. Remaining balance
relates to a credit provision amounting to \u20ac0.1 million (2023: \u20ac0.1 million) for vouchers and incentives to customers
for use on future bookings reflecting the expected value attached to vouchers and incentives. There is uncertainty
on the value of the credit provision given it is based on the probability that a customer will use their incentive. The
provision has not been discounted as it is not considered material.
Decrease in accruals and other payables relates mainly to discretionary compensation for staff employed by the Group
(2024: \u20ac2.1 million, 2023: \u20ac3.2 million).
Unpaid pension contributions in the current and prior year are included in accruals and other payables and are not
deemed material to disclose separately.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00216": { "value": "
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Current liabilities
\u00a0 \u00a0
Trade payables
4.1
3.3
Accruals and other payables
5.2
5.9
Customer provisions
0.1
1.3
Deferred revenue
3.5
3.9
Payroll taxes (non-warehoused)
0.7
0.6
Total
13.6
15.0
\nAt 31 December 2024, \u20ac3.2 million of revenue was deferred relating to free cancellation bookings (2023: \u20ac3.4 million),
\u20ac0.2 million was deferred relating to featured listings (2023: \u20ac0.4 million) and \u20ac0.1 million was deferred relating to
Roamies
(2023: \u20ac0.1 million).
Movement in deferred revenue relating to free cancellation bookings:
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Opening balance
3.4
3.0
Revenue deferred during year
56.9
63.4
Revenue recognised during year
(43.7)
(48.1)
Amount reversed during year relating to cancellations
(13.4)
(14.9)
Closing balance
3.2
3.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00215": { "value": "
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Current liabilities
\u00a0 \u00a0
Trade payables
4.1
3.3
Accruals and other payables
5.2
5.9
Customer provisions
0.1
1.3
Deferred revenue
3.5
3.9
Payroll taxes (non-warehoused)
0.7
0.6
Total
13.6
15.0
\n
The average credit period for the Group in respect of trade payables is 21 days (2023: 16 days). The Directors consider
that the carrying amount of trade and other payables is deemed to be to their fair value.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00217": { "value": "
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Current liabilities
\u00a0 \u00a0
Trade payables
4.1
3.3
Accruals and other payables
5.2
5.9
Customer provisions
0.1
1.3
Deferred revenue
3.5
3.9
Payroll taxes (non-warehoused)
0.7
0.6
Total
13.6
15.0
\n
The average credit period for the Group in respect of trade payables is 21 days (2023: 16 days). The Directors consider
that the carrying amount of trade and other payables is deemed to be to their fair value.
Reduction in customer provisions relates to an unwind of a refund provision which the Group now consider that the
possibility of an outflow of economic benefit is remote, with a release recognised in other income. Remaining balance
relates to a credit provision amounting to \u20ac0.1 million (2023: \u20ac0.1 million) for vouchers and incentives to customers
for use on future bookings reflecting the expected value attached to vouchers and incentives. There is uncertainty
on the value of the credit provision given it is based on the probability that a customer will use their incentive. The
provision has not been discounted as it is not considered material.
Decrease in accruals and other payables relates mainly to discretionary compensation for staff employed by the Group
(2024: \u20ac2.1 million, 2023: \u20ac3.2 million).
Unpaid pension contributions in the current and prior year are included in accruals and other payables and are not
deemed material to disclose separately.
At 31 December 2024, \u20ac3.2 million of revenue was deferred relating to free cancellation bookings (2023: \u20ac3.4 million),
\u20ac0.2 million was deferred relating to featured listings (2023: \u20ac0.4 million) and \u20ac0.1 million was deferred relating to
Roamies
(2023: \u20ac0.1 million).
Movement in deferred revenue relating to free cancellation bookings:
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Opening balance
3.4
3.0
Revenue deferred during year
56.9
63.4
Revenue recognised during year
(43.7)
(48.1)
Amount reversed during year relating to cancellations
(13.4)
(14.9)
Closing balance
3.2
3.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00219": { "value": "Reduction in customer provisions relates to an unwind of a refund provision which the Group now consider that the
possibility of an outflow of economic benefit is remote, with a release recognised in other income. Remaining balance
relates to a credit provision amounting to \u20ac0.1 million (2023: \u20ac0.1 million) for vouchers and incentives to customers
for use on future bookings reflecting the expected value attached to vouchers and incentives. There is uncertainty
on the value of the credit provision given it is based on the probability that a customer will use their incentive. The
provision has not been discounted as it is not considered material.
Decrease in accruals and other payables relates mainly to discretionary compensation for staff employed by the Group
(2024: \u20ac2.1 million, 2023: \u20ac3.2 million).23. Contingencies
In the normal course of business, the Group may be subject to indirect taxes on its services in certain foreign
jurisdictions which are subject to ongoing reviews by the Directors and management. Although the outcome of these
reviews and any potential liability is uncertain, no provision has been made in relation to these taxes as the Directors
believe that it is not probable that a material liability will arise.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00222": { "value": "22. Borrowings
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Opening Balance
10.2
31.1
Repayments (HPS)
\u2013
(34.1)
Drawdown (AIB)
\u2013
17.4
Repayments (AIB)
(10.3)
(7.1)
Transaction costs relating to borrowings (AIB)
\u2013
(0.2)
Finance costs
0.4
2.4
Finance costs (exceptional items)
-
2.8
Finance interest paid
(0.3)
(2.1)
Total
\u2013
10.2
\n
In 2021 the Group signed a \u20ac30 million five-year term loan facility with certain investment funds and accounts of
HPS Investment Partners LLC. In May 2023 the facility was repaid in full and refinanced with AIB.
A three-year facility was signed with AIB on 09 May 2023. This facility was comprised of a \u20ac10.0 million term loan
which was repaid in full in June 2024 (\u20ac1.7 million in 2023, \u20ac8.3 million in 2024), a \u20ac7.5 million revolving credit facility
which was repaid in full in February 2024 (\u20ac5.5 million in 2023, \u20ac2.0 million in 2024) and an undrawn \u20ac2.5 million
overdraft. No early repayment fees applied and at the date of repayment all security and covenant requirements
held by AIB were released. The Group continues to hold an undrawn \u20ac2.5 million overdraft facility with AIB retained
for flexibility.
Reduction in interest costs are driven by the refinancing in May 2023, and early repayment of the AIB facilities. Finance
costs expense include non-cash amounts relating to transaction costs capitalised for professional fees incurring on
the initial drawdown of the AIB facility in May 2023.
Borrowings are classified in the Consolidated Statement of Financial Position as:
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Non-current borrowings
\u2013
4.8
Current borrowings
\u2013
5.4
Total
\u2013
10.2
Change in liabilities arising from financing activities:
\u00a0
Lease liabilities
\u00a0 \u00a0
\u00a0
(note 15)
Borrowings
Total debt
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
At 01 January 2023
(0.5)
(31.1)
(31.6)
Financing cash flows
0.9
23.7
24.6
Interest paid (operating activities)
\u2013
2.1
2.1
Other non-cash movements
(1.0)
(4.9)
(5.9)
Balance at 31 December 2023
(0.6)
(10.2)
(10.8)
Financing cash flows
0.5
10.3
10.8
Interest paid (operating activities)
-
0.3
0.3
Other non-cash movements
(0.2)
(0.4)
(0.6)
Balance at 31 December 2024
(0.3)
\u2013
(0.3)
\n
Other non-cash movements for lease liabilities in 2024 and 2023 relate to additions, disposals, lease interest,
a modification and a lease term remeasurement. Other non-cash movements for borrowings in 2024 and 2023
relate to finance costs capitalised on the HPS and AIB term loan facility.", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00223": { "value": "23. Contingencies
In the normal course of business, the Group may be subject to indirect taxes on its services in certain foreign
jurisdictions which are subject to ongoing reviews by the Directors and management. Although the outcome of these
reviews and any potential liability is uncertain, no provision has been made in relation to these taxes as the Directors
believe that it is not probable that a material liability will arise.", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00224": { "value": "24. Share-based Payments
Overall, the Group recognised an expense of \u20ac1.8 million (2023: \u20ac1.7 million) relating to equity settled share-based
payment transactions in the Consolidated Income Statement during the year. \u20ac0.7 million (2023: \u20ac0.8 million) relates
to LTIP scheme, and \u20ac1.1 million (2023: \u20ac0.9 million) is in relation to the Group\u2019s RSU scheme. All schemes are
accounted for as equity settled in the financial statements.
LTIP
The Group operate a LTIP for executive Directors and selected management.
On 03 May 2024, 1,909,075 nil cost options were granted as part of LTIP 2024. These options will vest on 02 May
2027 subject to meeting performance conditions of adjusted earnings per share (\u201cEPS\u201d) performance and absolute
total shareholder return (\u201cTSR\u201d) of the Group over a three-year period.
LTIP 2021 vested at 100% in April 2024, and there were no leavers from 01 January to the vesting date so no awards
forfeited or expired during the year. 1,345,870 shares awards vested, in line with expectations set out at 31 December
2023. There were three performance conditions which were achieved in full relating to the Company\u2019s adjusted
EBITDA over a three-year period 2020 to 2023, Counter App signups target and customer value/customer acquisition
ratio targets.
LTIP 2020 vested at 75% in May 2023, with 1,645,994 awards vesting. The 2020 scheme vesting conditions related
to adjusted EPS performance and TSR of the Group over a three-year period. The EPS condition did not vest, and
the TSR condition vested at 100%.
If the conditions are met under the LTIP plans in place, the remaining awards will vest on the later of the third anniversary
\n
of the grant and the determination of the performance condition and will then remain exercisable until the seventh
\n
anniversary of the date of grant, provided the individual remains an employee or officer of the Group or is subject
\n
to good leaver provisions. No LTIP grant is due to vest in 2024. Further detail of the above schemes are set out
\n
within the Remuneration Committee report on pages 125 to 145.
\n
Details of the share options outstanding during the year are as follows:
\n\n \n
2024
2023
No. of
No. of
share options
share options
Outstanding at beginning of year
1,345,870
4,247,246
Granted during the year
1,909,075
\u2013
Forfeited or expired during the year
\u2013
(1,255,382)
Exercised during the year
(1,345,870)
(1,645,994)
Outstanding at the end of the year
1,909,075
1,345,870
Exercisable at the end of the year
\u2013
1,345,870
\n
For all schemes an award will lapse if a participant ceases to be an employee or an officer within the Group before
\n
the vesting date and is not subject to good leaver provisions. Share options under the LTIP scheme have an exercise
\n
price of \u00a3nil. The fair value, at the grant date, of the TSR-based conditional awards was measured using a Monte
\n
Carlo simulation model. Where applicable, expected volatility was determined based on the market performance
\n
of the Company over a period of 36 months prior to the date of grant. Market based vesting conditions, such as the
\n
TSR condition, have been taken into account in establishing the fair value of equity instruments granted. Non-market-
\n
based performance conditions, such as the EPS conditions, were not taken into account in establishing the fair value
\n
of equity instruments granted, however the number of equity instruments included in the measurement of the
\n
transaction is adjusted so that the amount recognised is based on the number of equity instruments that are expected
\n
to vest.
\n
At the grant date, the fair value per conditional award and the assumptions used in the calculations are as follows:
\n\n \n
Year of grant
2024
2021
2020
Year of potential vesting
2027
2024
2023
Number of share options granted
1,909,075
2,336,885
3,793,200
Share price at grant date
\u00a31.62
\u00a31.00
\u00a30.74
Exercise price per share option
\u00a3nil
\u00a3nil
\u00a3nil
Expected life
3 years
3 years
3 years
Expected dividend yield
0%
0%
6.06%
Expected volatility of Company share price (TSR)
40.2%
n/a
51.86%
Risk free interest rate (TSR)
3.84%
n/a
0.08%
Weighted average fair value at grant date (TSR)
\u00a31.05
\u00a31.00
\u00a30.49
Remaining weighted average life of options (years)
2.3
\u2013
\u2013
RSU
\n
There were no RSU grants in 2024. The 2023 and 2022 RSU share awards granted will vest after a three-year period.
\n
Vesting for all RSU grants is dependent upon the participant being employed by the Group as of the vesting date
\n
and satisfactory personal performance.
\n
During 2021 the Company granted a RSU to selected employees in lieu of a cash bonus, including the executive
\n
directors and members of the management team. 50% of the award vested in February 2022, and 50% vested in
\n
February 2023. 1,027,655 shares were issued in February 2023.
\n\n \n
2024
2023
No. of
No. of
share options
share options
Outstanding at the beginning of the period
3,014,850
4,009,368
Granted during the year
\u2013
740,560
Exercised during the year
\u2013
(1,027,655)
Forfeited
(20,357)
(707,423)
Outstanding at the end of the period
2,994,493
3,014,850
Exercisable at the end of the period
2,342,720
nil
\n
At the grant date, the Value per conditional award and the assumptions used in the calculations are as follows:
\n\n \n
Year of grant
2023
2022
Year of potential vesting
2026
2024
Number of share options granted
740,560
3,264,435
Share price at grant date
\u00a31.30
\u00a30.83
Exercise price per share option
\u00a3nil
\u00a3nil
Weighted average fair value of awards granted
\u00a31.30
\u00a30.83
Expected life
3 years
3 years
Remaining weighted average life of options (years)
1.1
0.4
\n
SAYE
\n
The Group have not approved a new SAYE scheme since 2020, following the withdrawal of Ulster Bank from the Irish
\n
market who were the only bank with an Irish banking licence that accepted new accounts SAYE schemes. In 2023
\n
and 2024, SAYE 2020 members exercised their shares and there are no open SAYE options. The 2020 scheme lasted
\n
three years and at the end employees choose to purchase shares at the fixed discounted price set at the start. The
\n
share price for the scheme has been set at a 20% discount for Irish and UK based employees in line with amounts
\n
permitted under tax legislation in both jurisdictions.
\n\n \n
2024
2023
Number of
Number of
SAYE share
SAYE share
options granted
options granted
Outstanding at beginning of year
5,245
223,970
Vested during the year
(5,245)
(138,400)
Forfeited during the year
\u2013
(80,325)
Outstanding at end of year
\u2013
5,245
Exercisable at the end of year
\u2013
5,245
At the grant date, the fair value for each SAYE award and the assumptions used in the calculations are as follows:
Scheme
UK office
Irish office
Grant date
August 2020
August 2020
Year of potential vesting
2023
2023
Share price at grant date
\u00a30.63
\u20ac0.70
Exercise price per share option
\u00a30.50
\u20ac0.56
Expected volatility of company share price
54.2%
54.2%
Expected life
3 years
3 years
Expected dividend yield
6.13%
6.13%
Risk free interest rate
\u20130.03%
\u20130.03%
Weighted average fair value at grant date
\u00a30.20
\u20ac0.22
Valuation model
Black Scholes
Black Scholes
\nExpected volatility was determined in line with market performance of the Company for the 2020 scheme. ", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00225": { "value": "25. Related Party Transactions
Balances and transactions between the Company and its subsidiaries, which are related parties, have been
eliminated on consolidation and are not disclosed in this note.
Directors\u2019 Remuneration
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Salaries, fees, bonuses and benefits in kind
1.6
1.9
Amounts receivable under long-term incentive schemes
0.2
0.5
Other remuneration
0.4
0.4
Pension contributions
0.1
0.1
Total
2.3
2.9
\n
Retirement benefit charges arise from pension payments relating to 2 Executive Directors (2023: 2). Other remuneration
of \u20ac0.4 million (2023: \u20ac0.4 million) relates to share-based payment expense in respect of the RSU scheme operated
in 2023 and 2022 respectively.
Key Management Personnel
The Group\u2019s key management comprise the Board of Directors and senior management having authority and
responsibility for planning, directing and controlling the activities of the Group.
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Short term benefits
3.5
3.8
Share-based payments charge
1.0
1.0
Post-employment benefits
0.1
0.1
Total
4.6
4.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00226": { "value": "Key Management Personnel
The Group\u2019s key management comprise the Board of Directors and senior management having authority and
responsibility for planning, directing and controlling the activities of the Group.
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Short term benefits
3.5
3.8
Share-based payments charge
1.0
1.0
Post-employment benefits
0.1
0.1
Total
4.6
4.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00227": { "value": "26. Subsidiaries and Associates
Subsidiaries
The following is a list of the Company\u2019s current investments in subsidiaries, including the name, country of incorporation,
and proportion of ownership interest:
\n \n
Company
Holding
Nature of business
Registered office
Hostelworld.com Limited
100%
(1)
Technology trading company
Charlemont Exchange
196 Ordinary shares @ \u20ac1
\u00a0 \u00a0
Charlemont St
\u00a0 \u00a0 \u00a0
Dublin
\u00a0 \u00a0 \u00a0
D02 VN88
\u00a0 \u00a0 \u00a0
Ireland
Hostelworld Management Services Limited
100%
(1)
Management services company
Charlemont Exchange
350 Ordinary shares @ \u20ac1
\u00a0 \u00a0
Charlemont St
\u00a0 \u00a0 \u00a0
Dublin
\u00a0 \u00a0 \u00a0
D02 VN88
\u00a0 \u00a0 \u00a0
Ireland
Hostelworld Services Portugal LDA
100%
Marketing and research and
Rua Ant\u00f2nio Nicolau D\u2019Almeid
500 Ordinary shares @ \u20ac1
\u00a0
development services company
45, 5 Floor
\u00a0 \u00a0 \u00a0
4100-320 Oporto
\u00a0 \u00a0 \u00a0
Portugal
Hostelworld Business Consulting
100%
Business information consulting
Unit 311, Block 1,
(Shanghai) Co., Limited
(2)
\u00a0
and marketing planning
Hostelworld Group Asia Office
\u00a0 \u00a0 \u00a0
No.425 Yanping Road
\u00a0 \u00a0 \u00a0
Jing\u2019an District
\u00a0 \u00a0 \u00a0
Shanghai
\u00a0 \u00a0 \u00a0
China
Hostelworld Services Limited
100%
1)
Marketing services and
One Chamberlain Square
104,123 Ordinary shares @ \u00a30.001
\u00a0
technology trading company
Birmingham
\u00a0 \u00a0 \u00a0
B3 3AX
\u00a0 \u00a0 \u00a0
United Kingdom
\n
(1)
held directly by the Company
(2)
3 Million RMB contributed by Hostelworld.com Limited for 100% ownership of subsidiary
Hostelworld Management Services Limited was incorporated on 09 February 2024. All subsidiaries have the same
reporting date as the Company being 31 December.", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00228": { "value": "Associates
The following details the Company\u2019s current investment in associates, including the name, country of incorporation,
and proportion of ownership interest:
Company
Holding
Nature of business
Registered office
Goki Pty Limited
31.5%
Technology company
17 Terrace Road, Dulwich Hill,
\u00a0 \u00a0 \u00a0
Sydney, NSW 2203, Australia
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00232": { "value": "27. Financial Risk Management
Financial Risk Factors
The Directors manage the Group\u2019s capital to ensure that the Group will be able to continue as a going concern while
also maximising the return to stakeholders. As part of this process, the Directors review financial risks such as liquidity
risk, credit risk, foreign exchange risk and interest rate risk regularly.
Liquidity Risk
Cash flow forecasting is monitored by rolling forecasts of the Group\u2019s liquidity requirements to ensure it has sufficient
cash to meet operational needs while not breaching any covenants that the Group adheres to. Such forecasting takes
into consideration the Group\u2019s debt financing plans.
In May 2023 the Group completed a refinance of its legacy debt facility, which was drawn down in February 2021
during COVID-19 trading. A new 3
-year facility was signed with AIB. This facility was comprised of a \u20ac10 million
term loan which was repaid in full in June 2024 (\u20ac1.7 million in 2023, \u20ac8.3 million in 2024), a \u20ac7.5 million revolving
credit facility which was repaid in full in February 2024 (\u20ac5.5 million in 2023, \u20ac2.0 million in 2024) and an undrawn
\u20ac2.5 million overdraft.
At the date of repayment all security and covenant requirements held by AIB were released. The Group continues
to hold an undrawn \u20ac2.5 million facility with AIB.
The Group\u2019s policy is to ensure that it has sufficient long-term funding in place to meet its payment obligations and
complies with covenants. The risk is managed centrally by the Group and reviewed by the Board on a regular basis.
The Group\u2019s liquidity risk is considered low following the repayment of the AIB debt facility in full in the current year.
The table below analyses the Group\u2019s financial liabilities into relevant maturity groupings based on the remaining
period at the reporting date to the contractual maturity date. The Group had no material derivative financial liabilities
in the current or prior year. The amounts disclosed in the table are the contractual undiscounted cash flows.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Up to 1 year
\u00a0 \u00a0
Borrowings
\u2013
5.3
Trade and other payables
12.9
14.5
Lease liabilities
0.3
0.5
Total up to 1 year
13.2
20.3
Between 2 and 4 years
\u00a0 \u00a0
Borrowings
\u2013
4.8
Lease liabilities
\u2013
0.1
Total between 2 and 4 years
\u2013
4.9
Total
13.2
25.2
\n
Interest Rate Risk
\n
The principal aim of managing interest rate risk is to limit the adverse impact on cash flows of movements in interest
\n
rates. The Group\u2019s interest rate risks arose from the debt facilities it held with AIB. An RCF facility and a term loan
\n
which bore interest at 2.65% per annum over EURIBOR. On the AIB term loan the Group had fixed the EURIBOR rate
\n
at 3.42%. Following the debt repayment, the Group is no longer exposed to interest rate risk, as it has no borrowings
\n
subject to interest rate fluctuations. This eliminates the potential impact of rising interest rates on the Group\u2019s
\n
financial position.
\n
Sensitivity analysis was completed in the prior year of the impact on profit before tax of 1% higher or lower interest
\n
rates with all other variables held constant and concluded that this would be +/-\u20ac0.2 million.
\n
Credit Risk and Foreign Exchange Risk
\n
Credit risk refers to the risk of financial loss to the Group if a counterparty defaults on its contractual obligations on
\n
financial assets held on the Statement of Financial Position.
\n
The Directors monitor the credit risk associated with trade receivables and cash and cash equivalent balances on an
\n
on-going basis. The Group\u2019s trade receivable balances primarily relate to VAT receivable balances from Irish hostels
\n
and amounts due from the Group\u2019s payment processing agents. Amounts due from the Group\u2019s payment processing
\n
agent are due for maturity within 5 days. Accordingly, the associated credit risk is determined to be low. These trade
\n
receivable balances, which consist of euro, US dollar and Sterling amounts, are settled within a relatively short period
\n
of time, which reduces any potential foreign exchange exposure risk.
\n
The aged analysis of trade receivables and other receivables for the year ended 31 December 2024 and 31 December
\n
2023 is summarised in the table below.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Not past due
Past due
Total
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Trade Receivables
\u00a0 \u00a0 \u00a0
31 December 2024
1.1
0.1
1.2
31 December 2023
0.7
0.1
0.8
Other Receivables (exclude prepayments)
\u00a0 \u00a0 \u00a0
31 December 2024
0.4
\u2013
0.4
31 December 2023
0.2
\u2013
0.2
Value added tax
\u00a0 \u00a0 \u00a0
31 December 2024
1.5
\u2013
1.5
31 December 2023
1.3
\u2013
1.3
\n
Past due is defined as amounts that have not been received by the agreed-upon date per the terms of agreement.
\n
In line with IFRS 9, the Group applies the simplified approach for the impairment of trade and other receivables and,
\n
therefore, does not track changes in credit risk, instead a loss allowance is recognised based on lifetime ECLs at each
\n
reporting date. The Group uses a provision matrix to measure ECLs based on historical cancellation and recovery
\n
rates and considers forward-looking factors, including the impact of rising cost of living and inflation rates. The figures
\n
disclosed above are stated net of allowances for impairment.
Other receivables include a receivable in respect of amount due from the Irish Revenue Commissioners in respect
of an R&D tax credit in line with a payment timetable set out by the Irish Revenue Commissioners. There are no further
performance obligations to be achieved attached to amount receivable.
At 31 December 2024 and 2023, all material cash balances are held with banks with a minimum credit rating of BBB-,
as assigned by international credit rating agencies. As a result, the credit risk on cash balances is limited. The carrying
value of trade receivables, trade payables and cash and cash equivalents is a reasonable approximation of their
fair value. The Group does not enter or trade financial instruments, including derivative financial instruments, for
speculative purposes.
The Board considers capital to comprise of long-term debt as disclosed in note 22 and equity as disclosed in note 18.
The Directors\u2019 objectives when managing capital are to safeguard the Group\u2019s ability to continue as a going concern
in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital
structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Directors may adjust
the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets.
The Group will ensure it retains sufficient reserves to manage its day-to-day cash requirements, including capital
expenditure requirements, whilst ensuring appropriate dividends are distributed to shareholders.", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00230": { "value": "27. Financial Risk Management
Financial Risk Factors
The Directors manage the Group\u2019s capital to ensure that the Group will be able to continue as a going concern while
also maximising the return to stakeholders. As part of this process, the Directors review financial risks such as liquidity
risk, credit risk, foreign exchange risk and interest rate risk regularly.
Liquidity Risk
Cash flow forecasting is monitored by rolling forecasts of the Group\u2019s liquidity requirements to ensure it has sufficient
cash to meet operational needs while not breaching any covenants that the Group adheres to. Such forecasting takes
into consideration the Group\u2019s debt financing plans.
In May 2023 the Group completed a refinance of its legacy debt facility, which was drawn down in February 2021
during COVID-19 trading. A new 3
-year facility was signed with AIB. This facility was comprised of a \u20ac10 million
term loan which was repaid in full in June 2024 (\u20ac1.7 million in 2023, \u20ac8.3 million in 2024), a \u20ac7.5 million revolving
credit facility which was repaid in full in February 2024 (\u20ac5.5 million in 2023, \u20ac2.0 million in 2024) and an undrawn
\u20ac2.5 million overdraft.
At the date of repayment all security and covenant requirements held by AIB were released. The Group continues
to hold an undrawn \u20ac2.5 million facility with AIB.
The Group\u2019s policy is to ensure that it has sufficient long-term funding in place to meet its payment obligations and
complies with covenants. The risk is managed centrally by the Group and reviewed by the Board on a regular basis.
The Group\u2019s liquidity risk is considered low following the repayment of the AIB debt facility in full in the current year.
The table below analyses the Group\u2019s financial liabilities into relevant maturity groupings based on the remaining
period at the reporting date to the contractual maturity date. The Group had no material derivative financial liabilities
in the current or prior year. The amounts disclosed in the table are the contractual undiscounted cash flows.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Up to 1 year
\u00a0 \u00a0
Borrowings
\u2013
5.3
Trade and other payables
12.9
14.5
Lease liabilities
0.3
0.5
Total up to 1 year
13.2
20.3
Between 2 and 4 years
\u00a0 \u00a0
Borrowings
\u2013
4.8
Lease liabilities
\u2013
0.1
Total between 2 and 4 years
\u2013
4.9
Total
13.2
25.2
\n
\n\n\n
Interest Rate Risk
\n
The principal aim of managing interest rate risk is to limit the adverse impact on cash flows of movements in interest
\n
rates. The Group\u2019s interest rate risks arose from the debt facilities it held with AIB. An RCF facility and a term loan
\n
which bore interest at 2.65% per annum over EURIBOR. On the AIB term loan the Group had fixed the EURIBOR rate
\n
at 3.42%. Following the debt repayment, the Group is no longer exposed to interest rate risk, as it has no borrowings
\n
subject to interest rate fluctuations. This eliminates the potential impact of rising interest rates on the Group\u2019s
\n
financial position.
\n
Sensitivity analysis was completed in the prior year of the impact on profit before tax of 1% higher or lower interest
\n
rates with all other variables held constant and concluded that this would be +/-\u20ac0.2 million.
\n
Credit Risk and Foreign Exchange Risk
\n
Credit risk refers to the risk of financial loss to the Group if a counterparty defaults on its contractual obligations on
\n
financial assets held on the Statement of Financial Position.
\n
The Directors monitor the credit risk associated with trade receivables and cash and cash equivalent balances on an
\n
on-going basis. The Group\u2019s trade receivable balances primarily relate to VAT receivable balances from Irish hostels
\n
and amounts due from the Group\u2019s payment processing agents. Amounts due from the Group\u2019s payment processing
\n
agent are due for maturity within 5 days. Accordingly, the associated credit risk is determined to be low. These trade
\n
receivable balances, which consist of euro, US dollar and Sterling amounts, are settled within a relatively short period
\n
of time, which reduces any potential foreign exchange exposure risk.
\n
The aged analysis of trade receivables and other receivables for the year ended 31 December 2024 and 31 December
\n
2023 is summarised in the table below.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Not past due
Past due
Total
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Trade Receivables
\u00a0 \u00a0 \u00a0
31 December 2024
1.1
0.1
1.2
31 December 2023
0.7
0.1
0.8
Other Receivables (exclude prepayments)
\u00a0 \u00a0 \u00a0
31 December 2024
0.4
\u2013
0.4
31 December 2023
0.2
\u2013
0.2
Value added tax
\u00a0 \u00a0 \u00a0
31 December 2024
1.5
\u2013
1.5
31 December 2023
1.3
\u2013
1.3
\n
Past due is defined as amounts that have not been received by the agreed-upon date per the terms of agreement.
\n
In line with IFRS 9, the Group applies the simplified approach for the impairment of trade and other receivables and,
\n
therefore, does not track changes in credit risk, instead a loss allowance is recognised based on lifetime ECLs at each
\n
reporting date. The Group uses a provision matrix to measure ECLs based on historical cancellation and recovery
\n
rates and considers forward-looking factors, including the impact of rising cost of living and inflation rates. The figures
\n
disclosed above are stated net of allowances for impairment.
Other receivables include a receivable in respect of amount due from the Irish Revenue Commissioners in respect
of an R&D tax credit in line with a payment timetable set out by the Irish Revenue Commissioners. There are no further
performance obligations to be achieved attached to amount receivable.
At 31 December 2024 and 2023, all material cash balances are held with banks with a minimum credit rating of BBB-,
as assigned by international credit rating agencies. As a result, the credit risk on cash balances is limited. The carrying
value of trade receivables, trade payables and cash and cash equivalents is a reasonable approximation of their
fair value. The Group does not enter or trade financial instruments, including derivative financial instruments, for
speculative purposes.
The Board considers capital to comprise of long-term debt as disclosed in note 22 and equity as disclosed in note 18.
The Directors\u2019 objectives when managing capital are to safeguard the Group\u2019s ability to continue as a going concern
in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital
structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Directors may adjust
the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets.
The Group will ensure it retains sufficient reserves to manage its day-to-day cash requirements, including capital
expenditure requirements, whilst ensuring appropriate dividends are distributed to shareholders.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00229": { "value": "27. Financial Risk Management
Financial Risk Factors
The Directors manage the Group\u2019s capital to ensure that the Group will be able to continue as a going concern while
also maximising the return to stakeholders. As part of this process, the Directors review financial risks such as liquidity
risk, credit risk, foreign exchange risk and interest rate risk regularly.
Liquidity Risk
Cash flow forecasting is monitored by rolling forecasts of the Group\u2019s liquidity requirements to ensure it has sufficient
cash to meet operational needs while not breaching any covenants that the Group adheres to. Such forecasting takes
into consideration the Group\u2019s debt financing plans.
In May 2023 the Group completed a refinance of its legacy debt facility, which was drawn down in February 2021
during COVID-19 trading. A new 3
-year facility was signed with AIB. This facility was comprised of a \u20ac10 million
term loan which was repaid in full in June 2024 (\u20ac1.7 million in 2023, \u20ac8.3 million in 2024), a \u20ac7.5 million revolving
credit facility which was repaid in full in February 2024 (\u20ac5.5 million in 2023, \u20ac2.0 million in 2024) and an undrawn
\u20ac2.5 million overdraft.
At the date of repayment all security and covenant requirements held by AIB were released. The Group continues
to hold an undrawn \u20ac2.5 million facility with AIB.
The Group\u2019s policy is to ensure that it has sufficient long-term funding in place to meet its payment obligations and
complies with covenants. The risk is managed centrally by the Group and reviewed by the Board on a regular basis.
The Group\u2019s liquidity risk is considered low following the repayment of the AIB debt facility in full in the current year.
The table below analyses the Group\u2019s financial liabilities into relevant maturity groupings based on the remaining
period at the reporting date to the contractual maturity date. The Group had no material derivative financial liabilities
in the current or prior year. The amounts disclosed in the table are the contractual undiscounted cash flows.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Up to 1 year
\u00a0 \u00a0
Borrowings
\u2013
5.3
Trade and other payables
12.9
14.5
Lease liabilities
0.3
0.5
Total up to 1 year
13.2
20.3
Between 2 and 4 years
\u00a0 \u00a0
Borrowings
\u2013
4.8
Lease liabilities
\u2013
0.1
Total between 2 and 4 years
\u2013
4.9
Total
13.2
25.2
\n
\n\n\n
Interest Rate Risk
\n
The principal aim of managing interest rate risk is to limit the adverse impact on cash flows of movements in interest
\n
rates. The Group\u2019s interest rate risks arose from the debt facilities it held with AIB. An RCF facility and a term loan
\n
which bore interest at 2.65% per annum over EURIBOR. On the AIB term loan the Group had fixed the EURIBOR rate
\n
at 3.42%. Following the debt repayment, the Group is no longer exposed to interest rate risk, as it has no borrowings
\n
subject to interest rate fluctuations. This eliminates the potential impact of rising interest rates on the Group\u2019s
\n
financial position.
\n
Sensitivity analysis was completed in the prior year of the impact on profit before tax of 1% higher or lower interest
\n
rates with all other variables held constant and concluded that this would be +/-\u20ac0.2 million.
\n
Credit Risk and Foreign Exchange Risk
\n
Credit risk refers to the risk of financial loss to the Group if a counterparty defaults on its contractual obligations on
\n
financial assets held on the Statement of Financial Position.
\n
The Directors monitor the credit risk associated with trade receivables and cash and cash equivalent balances on an
\n
on-going basis. The Group\u2019s trade receivable balances primarily relate to VAT receivable balances from Irish hostels
\n
and amounts due from the Group\u2019s payment processing agents. Amounts due from the Group\u2019s payment processing
\n
agent are due for maturity within 5 days. Accordingly, the associated credit risk is determined to be low. These trade
\n
receivable balances, which consist of euro, US dollar and Sterling amounts, are settled within a relatively short period
\n
of time, which reduces any potential foreign exchange exposure risk.
\n
The aged analysis of trade receivables and other receivables for the year ended 31 December 2024 and 31 December
\n
2023 is summarised in the table below.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Not past due
Past due
Total
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Trade Receivables
\u00a0 \u00a0 \u00a0
31 December 2024
1.1
0.1
1.2
31 December 2023
0.7
0.1
0.8
Other Receivables (exclude prepayments)
\u00a0 \u00a0 \u00a0
31 December 2024
0.4
\u2013
0.4
31 December 2023
0.2
\u2013
0.2
Value added tax
\u00a0 \u00a0 \u00a0
31 December 2024
1.5
\u2013
1.5
31 December 2023
1.3
\u2013
1.3
\n
Past due is defined as amounts that have not been received by the agreed-upon date per the terms of agreement.
\n
In line with IFRS 9, the Group applies the simplified approach for the impairment of trade and other receivables and,
\n
therefore, does not track changes in credit risk, instead a loss allowance is recognised based on lifetime ECLs at each
\n
reporting date. The Group uses a provision matrix to measure ECLs based on historical cancellation and recovery
\n
rates and considers forward-looking factors, including the impact of rising cost of living and inflation rates. The figures
\n
disclosed above are stated net of allowances for impairment.
Other receivables include a receivable in respect of amount due from the Irish Revenue Commissioners in respect
of an R&D tax credit in line with a payment timetable set out by the Irish Revenue Commissioners. There are no further
performance obligations to be achieved attached to amount receivable.
At 31 December 2024 and 2023, all material cash balances are held with banks with a minimum credit rating of BBB-,
as assigned by international credit rating agencies. As a result, the credit risk on cash balances is limited. The carrying
value of trade receivables, trade payables and cash and cash equivalents is a reasonable approximation of their
fair value. The Group does not enter or trade financial instruments, including derivative financial instruments, for
speculative purposes.
The Board considers capital to comprise of long-term debt as disclosed in note 22 and equity as disclosed in note 18.
The Directors\u2019 objectives when managing capital are to safeguard the Group\u2019s ability to continue as a going concern
in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital
structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Directors may adjust
the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets.
The Group will ensure it retains sufficient reserves to manage its day-to-day cash requirements, including capital
expenditure requirements, whilst ensuring appropriate dividends are distributed to shareholders.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00231": { "value": "Liquidity Risk
Cash flow forecasting is monitored by rolling forecasts of the Group\u2019s liquidity requirements to ensure it has sufficient
cash to meet operational needs while not breaching any covenants that the Group adheres to. Such forecasting takes
into consideration the Group\u2019s debt financing plans.
In May 2023 the Group completed a refinance of its legacy debt facility, which was drawn down in February 2021
during COVID-19 trading. A new 3
-year facility was signed with AIB. This facility was comprised of a \u20ac10 million
term loan which was repaid in full in June 2024 (\u20ac1.7 million in 2023, \u20ac8.3 million in 2024), a \u20ac7.5 million revolving
credit facility which was repaid in full in February 2024 (\u20ac5.5 million in 2023, \u20ac2.0 million in 2024) and an undrawn
\u20ac2.5 million overdraft.
At the date of repayment all security and covenant requirements held by AIB were released. The Group continues
to hold an undrawn \u20ac2.5 million facility with AIB.
The Group\u2019s policy is to ensure that it has sufficient long-term funding in place to meet its payment obligations and
complies with covenants. The risk is managed centrally by the Group and reviewed by the Board on a regular basis.
The Group\u2019s liquidity risk is considered low following the repayment of the AIB debt facility in full in the current year.
The table below analyses the Group\u2019s financial liabilities into relevant maturity groupings based on the remaining
period at the reporting date to the contractual maturity date. The Group had no material derivative financial liabilities
in the current or prior year. The amounts disclosed in the table are the contractual undiscounted cash flows.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2024
2023
\u00a0
\u20ac\u2019m
\u20ac\u2019m
Up to 1 year
\u00a0 \u00a0
Borrowings
\u2013
5.3
Trade and other payables
12.9
14.5
Lease liabilities
0.3
0.5
Total up to 1 year
13.2
20.3
Between 2 and 4 years
\u00a0 \u00a0
Borrowings
\u2013
4.8
Lease liabilities
\u2013
0.1
Total between 2 and 4 years
\u2013
4.9
Total
13.2
25.2
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00233": { "value": "Credit Risk and Foreign Exchange Risk
Credit risk refers to the risk of financial loss to the Group if a counterparty defaults on its contractual obligations on
\n
financial assets held on the Statement of Financial Position.
\n
The Directors monitor the credit risk associated with trade receivables and cash and cash equivalent balances on an
\n
on-going basis. The Group\u2019s trade receivable balances primarily relate to VAT receivable balances from Irish hostels
\n
and amounts due from the Group\u2019s payment processing agents. Amounts due from the Group\u2019s payment processing
\n
agent are due for maturity within 5 days. Accordingly, the associated credit risk is determined to be low. These trade
\n
receivable balances, which consist of euro, US dollar and Sterling amounts, are settled within a relatively short period
\n
of time, which reduces any potential foreign exchange exposure risk.
\n
The aged analysis of trade receivables and other receivables for the year ended 31 December 2024 and 31 December
\n
2023 is summarised in the table below.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Not past due
Past due
Total
\u00a0
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
Trade Receivables
\u00a0 \u00a0 \u00a0
31 December 2024
1.1
0.1
1.2
31 December 2023
0.7
0.1
0.8
Other Receivables (exclude prepayments)
\u00a0 \u00a0 \u00a0
31 December 2024
0.4
\u2013
0.4
31 December 2023
0.2
\u2013
0.2
Value added tax
\u00a0 \u00a0 \u00a0
31 December 2024
1.5
\u2013
1.5
31 December 2023
1.3
\u2013
1.3
\n
Past due is defined as amounts that have not been received by the agreed-upon date per the terms of agreement.
\n
In line with IFRS 9, the Group applies the simplified approach for the impairment of trade and other receivables and,
\n
therefore, does not track changes in credit risk, instead a loss allowance is recognised based on lifetime ECLs at each
\n
reporting date. The Group uses a provision matrix to measure ECLs based on historical cancellation and recovery
\n
rates and considers forward-looking factors, including the impact of rising cost of living and inflation rates. The figures
\n
disclosed above are stated net of allowances for impairment.
Other receivables include a receivable in respect of amount due from the Irish Revenue Commissioners in respect
of an R&D tax credit in line with a payment timetable set out by the Irish Revenue Commissioners. There are no further
performance obligations to be achieved attached to amount receivable.
At 31 December 2024 and 2023, all material cash balances are held with banks with a minimum credit rating of BBB-,
as assigned by international credit rating agencies. As a result, the credit risk on cash balances is limited. The carrying
value of trade receivables, trade payables and cash and cash equivalents is a reasonable approximation of their
fair value. The Group does not enter or trade financial instruments, including derivative financial instruments, for
speculative purposes.
The Board considers capital to comprise of long-term debt as disclosed in note 22 and equity as disclosed in note 18.
The Directors\u2019 objectives when managing capital are to safeguard the Group\u2019s ability to continue as a going concern
in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital
structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Directors may adjust
the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets.
The Group will ensure it retains sufficient reserves to manage its day-to-day cash requirements, including capital
expenditure requirements, whilst ensuring appropriate dividends are distributed to shareholders.", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00234": { "value": "28. Dividends
The Group has not paid or declared any cash dividends in 2024 or 2023. Future cash dividend payments will be
subject to the Group continuing to generate a profit after tax, the Group\u2019s cash position, any restrictions in the Group\u2019s
banking facilities and compliance with Companies Act 2006 requirements regarding ensuring sufficiency of distributable
reserves at the time of paying the dividend.", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00235": { "value": "30. Events After the Balance Sheet Date There have been no other material events after the balance sheet date.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00355": { "value": "Company Statement of Financial Position
as at 31 December 2024
2024
2023
\n \n
Notes
\u20ac\u2019m
\u20ac\u2019m
Non-current assets
Investments
34
51.6
49.6
Trade and other receivables
35
113.8
114.9
165.4
164.5
Current assets
Trade and other receivables
35
0.3
0.3
Cash and cash equivalents
0.2
0.6
0.5
0.9
Total assets
165.9
165.4
Equity
Share capital
18
1.3
1.3
Share premium account
18
14.4
14.4
Other reserves
3.0
2.9
Retained earnings
146.0
145.0
Total equity attributable to equity holders of the parent
164.7
163.6
Current liabilities
Trade and other payables
36
1.2
1.7
Corporation tax liability
\u2013
0.1
Total liabilities
1.2
1.8
Total equity and liabilities
165.9
165.4
The Company reported a loss for the financial year ended 31 December 2024 of \u20ac0.7 million (2023: \u20ac1.2 million).
The financial statements of Hostelworld Group plc were approved by the Board of Directors and authorised for issue
on 19 March 2025 and signed on its behalf by:
Gary Mo\ue002ison
Caroline She\ue002y
Chief Executive Officer
Chief Financial Officer
Hostelworld Group plc registration number 9818705 (England and Wales)
Company Statement of Changes in Equity
\n
for the year ended 31 December 2024
Share
Share premium
Retained
Other
capital
account
earnings
reserves
Total
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
\u20ac\u2019m
As at 01 January 2023
1.2
14.3
141.1
6.4
163.0
Total comprehensive income for the year
\u2013
\u2013
(1.2)
\u2013
(1.2)
Issue of shares
0.1
0.1
0.2
Transfer of exercise of vesting of warrants
\u2013
\u2013
3.0
(3.0)
\u2013
Transfer of exercised and expired
share option awards
\u2013
\u2013
2.1
(2.1)
\u2013
Credit to equity for equity settled
share-based payments
\u2013
\u2013
\u2013
1.6
1.6
As at 31 December 2023
1.3
14.4
145.0
2.9
163.6
Total comprehensive income for the year
\u2013
\u2013
(0.7)
\u2013
(0.7)
Issue of shares
\u2013
\u2013
\u2013
\u2013
\u2013
Transfer of exercised and expired
share option awards
\u2013
\u2013
1.7
(1.7)
\u2013
Credit to equity for equity settled
share-based payments
\u2013
\u2013
\u2013
1.8
1.8
As at 31 December 2024
1.3
14.4
146.0
3.0
164.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfConsolidatedAndSeparateFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800OC94PF2D675H41", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } } } }