Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31Tour operator activities2021-01-01false1011falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04080294 2021-01-01 2021-12-31 04080294 2020-01-01 2020-12-31 04080294 2021-12-31 04080294 2020-12-31 04080294 1 2021-01-01 2021-12-31 04080294 d:Director2 2021-01-01 2021-12-31 04080294 c:Buildings 2021-01-01 2021-12-31 04080294 c:MotorVehicles 2021-01-01 2021-12-31 04080294 c:MotorVehicles 2021-12-31 04080294 c:MotorVehicles 2020-12-31 04080294 c:MotorVehicles c:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 04080294 c:FurnitureFittings 2021-01-01 2021-12-31 04080294 c:FurnitureFittings 2021-12-31 04080294 c:FurnitureFittings 2020-12-31 04080294 c:FurnitureFittings c:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 04080294 c:ComputerEquipment 2021-01-01 2021-12-31 04080294 c:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 04080294 c:CurrentFinancialInstruments 2021-12-31 04080294 c:CurrentFinancialInstruments 2020-12-31 04080294 c:Non-currentFinancialInstruments 2021-12-31 04080294 c:Non-currentFinancialInstruments 2020-12-31 04080294 c:CurrentFinancialInstruments c:WithinOneYear 2021-12-31 04080294 c:CurrentFinancialInstruments c:WithinOneYear 2020-12-31 04080294 c:Non-currentFinancialInstruments c:AfterOneYear 2021-12-31 04080294 c:Non-currentFinancialInstruments c:AfterOneYear 2020-12-31 04080294 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2021-12-31 04080294 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2020-12-31 04080294 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2021-12-31 04080294 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2020-12-31 04080294 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2021-12-31 04080294 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2020-12-31 04080294 c:ShareCapital 2021-12-31 04080294 c:ShareCapital 2020-12-31 04080294 c:SharePremium 2021-12-31 04080294 c:SharePremium 2020-12-31 04080294 c:RetainedEarningsAccumulatedLosses 2021-12-31 04080294 c:RetainedEarningsAccumulatedLosses 2020-12-31 04080294 d:FRS102 2021-01-01 2021-12-31 04080294 d:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 04080294 d:FullAccounts 2021-01-01 2021-12-31 04080294 d:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 04080294 c:EntityControlledByKeyManagementPersonnel1 2021-01-01 2021-12-31 04080294 c:EntityControlledByKeyManagementPersonnel1 2021-12-31 04080294 c:Subsidiary1 2021-01-01 2021-12-31 04080294 c:Subsidiary1 1 2021-01-01 2021-12-31 04080294 c:Subsidiary2 2021-01-01 2021-12-31 04080294 c:Subsidiary2 1 2021-01-01 2021-12-31 04080294 2 2021-01-01 2021-12-31 04080294 6 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 04080294










HARGREAVES & NURSE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
HARGREAVES & NURSE LIMITED
REGISTERED NUMBER: 04080294

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,435
12,770

Investments
 5 
200
200

  
8,635
12,970

Current assets
  

Stocks
 6 
4,281
4,689

Debtors: amounts falling due within one year
 7 
299,616
274,284

Cash at bank and in hand
 8 
8,401
116,077

  
312,298
395,050

Creditors: amounts falling due within one year
 9 
(316,027)
(280,394)

Net current (liabilities)/assets
  
 
 
(3,729)
 
 
114,656

Total assets less current liabilities
  
4,906
127,626

Creditors: amounts falling due after more than one year
 10 
(50,842)
(50,000)

  

Net (liabilities)/assets
  
(45,936)
77,626

Page 1

 
HARGREAVES & NURSE LIMITED
REGISTERED NUMBER: 04080294
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

2021
2020
£
£

Capital and reserves
  

Called up share capital 
  
144,800
144,800

Share premium account
  
2,400
2,400

Profit and loss account
  
(193,136)
(69,574)

  
(45,936)
77,626


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

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

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




H C Nurse
Director

Date: 18 July 2022

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Hargreaves & Nurse Limited is a private company limited by shares and is registered and incorporated in England and Wales.
The registered address of the office is: 8th Floor, Becket House, 36 Old Jewry, London, EC2R 8DD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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

The following principal accounting policies have been applied:

 
2.2

Going concern

In common with many travel companies, the company has experienced a reduction in bookings due to concern over the coronavirus during 2020 and 2021.
The company has a net current liabilities position of £4,648 and net liabilities of £53,065 as at 31 December 2021 with a loss of £130,691. We have taken steps to reduce outgoings by controlling overhead expenses, utilising the Government Job Retention Scheme to furlough staff and obtaining additional grants and a bounce back loan.
The directors have prepared forecasts taking into account their assessment of the effects of the ending of travel restrictions and the increase in customer confidence and are confident that the company will be able to continue to meet their liabilities as they fall due and expect to see a significant improvement in the Balance Sheet position over the next two years. 

Page 3

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

  
2.5

Government Grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
During the year the Company benefited from taking advantage of government support in the form of the Coronavirus Job Retention Scheme (CJRS) and Retail, Hospitality and Leisure grant.

 
2.6

Interest income

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

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.8

Borrowing costs

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

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Land and buildings
-
Two thirds taken as Buildings and depreciated straight line over 50 years
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Computer equipment
-
33.33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.18

Dividends

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

Page 6

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

  
2.19

Advance holiday receipts and expenditure

All revenue relating to tours with departure dates after the year end are treated as advance receipts
at the balance sheet date and disclosed within other creditors. Payments made to suppliers in
respect of these tours are included within other debtors.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2020 - 11).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2021
1,600
128,291
129,891


Additions
-
535
535



At 31 December 2021

1,600
128,826
130,426



Depreciation


At 1 January 2021
1,315
115,806
117,121


Charge for the year on owned assets
71
4,799
4,870



At 31 December 2021

1,386
120,605
121,991



Net book value



At 31 December 2021
214
8,221
8,435



At 31 December 2020
285
12,485
12,770

Page 7

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2021
200



At 31 December 2021
200





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Just Sardinia Limited
Dormant Company
A
100%
Just Skiing Limited
Dormant Company
A
100%


6.


Stocks

2021
2020
£
£

Finished goods and goods for resale
4,281
4,689

4,281
4,689



7.


Debtors

2021
2020
£
£


Other debtors
6,641
15,878

Prepayments and accrued income
292,975
258,406

299,616
274,284


Prepayments and accrued income includes advanced payments to suppliers for departures after the
balance sheet date amounting to £278,363 (2020: £218,085).

Page 8

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

8.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
8,401
116,077

8,401
116,077



9.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
6,210
-

Bank overdraft
51,890
-

Other taxation and social security
15,035
12,342

Other creditors
2,719
5,000

Accruals and deferred income
240,173
263,052

316,027
280,394


Included within "Accruals and deferred income" above are amounts relating to customer monies held on
account of holidays departing after the year end the total of which amount to £236,173 (2020: £259,052).


10.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
40,842
50,000

Other creditors
10,000
-

50,842
50,000


Other creditors includes £10,000 that has been subordinated in accordance with the terms set out by the Civil Aviation Authority (CAA). This means the £10,000 cannot be repaid whilst the company holds and Air Travel Organisers license unless written consent has been received by the CAA.

Page 9

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

11.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
6,210
-


6,210
-

Amounts falling due 1-2 years

Bank loans
6,210
15,833


6,210
15,833

Amounts falling due 2-5 years

Bank loans
18,630
30,000


18,630
30,000

Amounts falling due after more than 5 years

Bank loans
16,002
4,167

16,002
4,167

47,052
50,000


During the year fixed and floating charges securing the Natwest bank loan were fully satisfied.


12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,272 (2020: £3,386). Contributions totalling to £773 (2020: £nil) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

Within short term creditors and included within other creditors is £10,000 (2020: £5,000), owed to H C Nurse.


14.


Post balance sheet events

Future revenues and profit are likely to be affected by the restrictions on travel and consumer confidence to travel though the directors cannot determine at present the extent to which the company is likely to be affected (see note 2.2).

Page 10

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

15.


Controlling party

The company was under control of the directors by virtue of their shareholding in the company.

 
Page 11