Caseware UK (AP4) 2022.0.179 2022.0.179 2021-12-312021-12-31202021-01-01falseNo description of principal activity26falsetrue 09763321 2021-01-01 2021-12-31 09763321 2020-01-01 2020-12-31 09763321 2021-12-31 09763321 2020-12-31 09763321 2020-01-01 09763321 c:Director5 2021-01-01 2021-12-31 09763321 d:ComputerEquipment 2021-01-01 2021-12-31 09763321 d:ComputerEquipment 2021-12-31 09763321 d:ComputerEquipment 2020-12-31 09763321 d:Goodwill 2021-01-01 2021-12-31 09763321 d:Goodwill 2021-12-31 09763321 d:Goodwill 2020-12-31 09763321 d:CurrentFinancialInstruments 2021-12-31 09763321 d:CurrentFinancialInstruments 2020-12-31 09763321 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09763321 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 09763321 d:ShareCapital 2021-01-01 2021-12-31 09763321 d:ShareCapital 2021-12-31 09763321 d:ShareCapital 2020-01-01 2020-12-31 09763321 d:ShareCapital 2020-12-31 09763321 d:ShareCapital 2020-01-01 09763321 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 09763321 d:RetainedEarningsAccumulatedLosses 2021-12-31 09763321 d:RetainedEarningsAccumulatedLosses 2020-01-01 2020-12-31 09763321 d:RetainedEarningsAccumulatedLosses 2020-12-31 09763321 d:RetainedEarningsAccumulatedLosses 2020-01-01 09763321 c:FRS102 2021-01-01 2021-12-31 09763321 c:Audited 2021-01-01 2021-12-31 09763321 c:FullAccounts 2021-01-01 2021-12-31 09763321 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 09763321 c:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 09763321 6 2021-01-01 2021-12-31 09763321 d:Goodwill d:OwnedIntangibleAssets 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 09763321










TRAVEL TRIPPER LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
TRAVEL TRIPPER LIMITED
REGISTERED NUMBER: 09763321

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
$
$

Fixed assets
  

Intangible assets
 4 
1,536,527
1,733,072

Investments
 6 
33,269
33,269

  
1,569,796
1,766,341

Current assets
  

Debtors: amounts falling due within one year
 7 
2,130,279
1,923,933

Cash at bank and in hand
 8 
770,417
183,827

  
2,900,696
2,107,760

Creditors: amounts falling due within one year
 9 
(15,533,846)
(11,479,451)

Net current liabilities
  
 
 
(12,633,150)
 
 
(9,371,691)

Total assets less current liabilities
  
(11,063,354)
(7,605,350)

  

Net liabilities
  
(11,063,354)
(7,605,350)


Capital and reserves
  

Called up share capital 
  
130
130

Profit and loss account
  
(11,063,484)
(7,605,480)

  
(11,063,354)
(7,605,350)


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: 




Michael James Bennett
Director

Date: 18 September 2023

The notes on pages 4 to 11 form part of these financial statements.
Page 1

 
TRAVEL TRIPPER LIMITED
REGISTERED NUMBER: 09763321
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021


Page 2

 
TRAVEL TRIPPER LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021


Called up share capital
Profit and loss account
Total equity

$
$
$


At 1 January 2020
130
(2,173,355)
(2,173,225)


Comprehensive income for the year

Loss for the year
-
(5,432,125)
(5,432,125)
Total comprehensive income for the year
-
(5,432,125)
(5,432,125)



At 1 January 2021
130
(7,605,480)
(7,605,350)


Comprehensive income for the year

Loss for the year
-
(3,458,004)
(3,458,004)
Total comprehensive income for the year
-
(3,458,004)
(3,458,004)


At 31 December 2021
130
(11,063,484)
(11,063,354)


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
TRAVEL TRIPPER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Travel Tripper Limited is a private company, limited by shares, domiciled in England and Wales, registration number 09763321. The registered office is 45 Gresham Street, London, EC2V 7BG.
The accounts are presented in US dollars and are rounded to the nearest $1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment. 
The COVID-19 pandemic and the ensuing economic shutdown had a significant impact on the Company’s operations. The Directors acknowledge there is uncertainty over the Company's ability to continue as a going concern without assistance from its parent company and wider group. As a result, a group company has pledged to support the Company for a period of at least 12 months from signing these financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

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'.

Page 4

 
TRAVEL TRIPPER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Government grants

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

 
2.6

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.

 
2.7

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.

Page 5

 
TRAVEL TRIPPER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
3 years

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.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Debtors

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

Page 6

 
TRAVEL TRIPPER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

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

 
2.13

Creditors

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

 
2.14

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when
Page 7

 
TRAVEL TRIPPER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.14
Financial instruments (continued)

there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2020 - 26).


4.


Intangible assets




Goodwill

$



Cost


At 1 January 2021
2,109,783



At 31 December 2021

2,109,783



Amortisation


At 1 January 2021
376,711


Charge for the year on owned assets
196,545



At 31 December 2021

573,256



Net book value



At 31 December 2021
1,536,527



At 31 December 2020
1,733,072



Page 8

 
TRAVEL TRIPPER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Tangible fixed assets





Computer equipment

$



Cost or valuation


At 1 January 2021
8,372



At 31 December 2021

8,372



Depreciation


At 1 January 2021
8,372



At 31 December 2021

8,372



Net book value



At 31 December 2021
-



At 31 December 2020
-


6.


Fixed asset investments





Investments in subsidiary companies

$



Cost


At 1 January 2021
33,269



At 31 December 2021
33,269




Page 9

 
TRAVEL TRIPPER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

7.


Debtors

2021
2020
$
$


Trade debtors
596,260
385,346

Amounts owed by group undertakings
1,519,270
1,519,650

Other debtors
6,810
5,273

Prepayments and accrued income
7,939
13,664

2,130,279
1,923,933



8.


Cash and cash equivalents

2021
2020
$
$

Cash at bank and in hand
770,417
183,827

770,417
183,827



9.


Creditors: Amounts falling due within one year

2021
2020
$
$

Trade creditors
61,633
157,975

Amounts owed to group undertakings
14,845,934
10,452,122

Other taxation and social security
98,477
349,521

Other creditors
34,078
44,443

Accruals and deferred income
493,724
475,390

15,533,846
11,479,451



10.


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 $96,850 (2020 - $60,608) during the year. Contributions totalling £7,921 (2020 - $Nil) were payable by the Company to the fund at the balance sheet date and are included in creditors.

Page 10

 
TRAVEL TRIPPER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

11.


Controlling party

The Company is a wholly owned subsidiary of Travel Tripper LLC, a company incorporated in the USA. The company's registered office is 47 Van Nostrand Avenue, Englewood, New Jersey, USA 07631.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2021 was unqualified.

The audit report was signed on 18 September 2023 by Rajeev Shaunak (FCA) (Senior statutory auditor) on behalf of MHA.

Page 11