Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31002022-04-01falseThe principal activity of the company continues to be that of a tour operator.55truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04656968 2022-04-01 2023-03-31 04656968 2022-04-01 2023-03-31 04656968 c:KeyManagementPersonnel 2022-04-01 2023-03-31 04656968 2021-04-01 2022-03-31 04656968 2023-03-31 04656968 c:KeyManagementPersonnel 2023-03-31 04656968 2022-03-31 04656968 1 2022-04-01 2023-03-31 04656968 d:Director2 2022-04-01 2023-03-31 04656968 c:OfficeEquipment 2022-04-01 2023-03-31 04656968 c:OfficeEquipment 2023-03-31 04656968 c:OfficeEquipment 2022-03-31 04656968 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04656968 c:ComputerEquipment 2022-04-01 2023-03-31 04656968 c:ComputerEquipment 2023-03-31 04656968 c:ComputerEquipment 2022-03-31 04656968 c:ComputerEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04656968 c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04656968 c:PatentsTrademarksLicencesConcessionsSimilar 2022-04-01 2023-03-31 04656968 c:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 04656968 c:PatentsTrademarksLicencesConcessionsSimilar 2022-03-31 04656968 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-04-01 2023-03-31 04656968 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 04656968 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-31 04656968 c:CurrentFinancialInstruments 2023-03-31 04656968 c:CurrentFinancialInstruments 2022-03-31 04656968 c:Non-currentFinancialInstruments 2023-03-31 04656968 c:Non-currentFinancialInstruments 2022-03-31 04656968 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 04656968 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 04656968 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 04656968 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 04656968 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 04656968 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-03-31 04656968 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 04656968 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-03-31 04656968 c:ShareCapital 2023-03-31 04656968 c:ShareCapital 2022-03-31 04656968 c:SharePremium 2023-03-31 04656968 c:SharePremium 2022-03-31 04656968 c:RetainedEarningsAccumulatedLosses 2023-03-31 04656968 c:RetainedEarningsAccumulatedLosses 2022-03-31 04656968 d:FRS102 2022-04-01 2023-03-31 04656968 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04656968 d:FullAccounts 2022-04-01 2023-03-31 04656968 d:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04656968 c:PatentsTrademarksLicencesConcessionsSimilar c:OwnedIntangibleAssets 2022-04-01 2023-03-31 04656968 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 04656968


AMPERSAND TRAVEL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2023

 
AMPERSAND TRAVEL LIMITED
REGISTERED NUMBER:04656968

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,484
2,285

Tangible assets
 5 
5,059
260

  
6,543
2,545

Current assets
  

Debtors
 6 
617,111
713,567

Cash at bank and in hand
 7 
450,846
333,624

  
1,067,957
1,047,191

Creditors: amounts falling due within one year
 8 
(658,774)
(698,967)

Net current assets
  
 
 
409,183
 
 
348,224

Total assets less current liabilities
  
415,726
350,769

Creditors: amounts falling due after more than one year
 9 
(157,388)
(230,227)

  

Net assets
  
258,338
120,542


Capital and reserves
  

Called up share capital 
  
100
100

Share premium account
  
66,906
66,906

Profit and loss account
  
191,332
53,536

  
258,338
120,542


Page 1

 
AMPERSAND TRAVEL LIMITED
REGISTERED NUMBER:04656968
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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: 




................................................
J Jayasundera
Director

Date: 28 September 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
AMPERSAND TRAVEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Ampersand Travel Limited is a private company limited by shares incorporated in England & Wales. The address of the registered office is 8th Floor, Becket House, 36 Old Jewry, London, EC2R 8DD. The trading address of the company is Tintagel House, 92 Albert Embankment, London, SE1 7TY.
The principal activity of the company continues to be that of a tour operator.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

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'.

 
2.3

Revenue

Revenue represents amounts receivable from the sales of tours and other services, supplied to customers net of VAT. Revenue and expenses relating to tours are taken to the profit and loss account on a departure date basis.

Page 3

 
AMPERSAND TRAVEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

  
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 profit and loss account 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 local government support (see note 3).

 
2.6

Finance costs

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

 
2.7

Borrowing costs

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

 
2.8

Pensions

Defined contribution pension plan

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

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

 
2.9

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.

 The estimated useful lives range as follows:

Patents
-
5 years straight line basis
Website
-
10 years straight line basis

Page 4

 
AMPERSAND TRAVEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

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:

Office equipment
-
3 years straight line basis
Computer equipment
-
3 years straight line basis

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.

 
2.11

Debtors

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

 
2.12

Cash and cash equivalents

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

 
2.13

Creditors

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

  
2.14

Advance receipts and payments

All revenue relating to tours with departure dates after the accounting reference date is treated as advance receipts, and separately disclosed under other creditors. Payments made to suppliers in respect of these tours are included within prepayments.

 
2.15

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.

Page 5

 
AMPERSAND TRAVEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022







Employees
5
5


4.


Intangible assets




Patents
Website Development
Total

£
£
£



Cost


At 1 April 2022
1,965
70,258
72,223



At 31 March 2023

1,965
70,258
72,223



Amortisation


At 1 April 2022
1,965
67,973
69,938


Charge for the year on owned assets
-
801
801



At 31 March 2023

1,965
68,774
70,739



Net book value



At 31 March 2023
-
1,484
1,484



At 31 March 2022
-
2,285
2,285



Page 6

 
AMPERSAND TRAVEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
40,624
5,376
46,000


Additions
498
4,327
4,825



At 31 March 2023

41,122
9,703
50,825



Depreciation


At 1 April 2022
40,623
5,117
45,740


Charge for the year on owned assets
14
12
26



At 31 March 2023

40,637
5,129
45,766



Net book value



At 31 March 2023
485
4,574
5,059



At 31 March 2022
1
259
260


6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
292,938
297,894

292,938
297,894

Due within one year

Trade debtors
1,334
84,193

Other debtors
61,213
56,741

Prepayments and accrued income
261,626
274,739

617,111
713,567


Prepayments and accrued income includes £261,626 (2022: £274,739) of advance payments to suppliers in respect of future departures.

Page 7

 
AMPERSAND TRAVEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
450,846
333,624

450,846
333,624



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
49,000
49,000

Trade creditors
3,036
24,288

Other taxation and social security
8,712
14,969

Other creditors
12,187
10,600

Accruals and deferred income
585,839
600,110

658,774
698,967


Accruals and deferred income with in 1 year includes £525,285 (2022: £591,654) of amounts received from customers in respect of future departures.
In 2021, the company secured a loan of £245,000 through a Coronavirus Business Interruption Loan Scheme. The loan is guaranteed by the UK Government.


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
155,167
196,000

Accruals and deferred income
2,221
34,227

157,388
230,227


Accruals and deferred income more than 1 years includes £2,221 (2022: £34,227) of amounts received from customers in respect of future departures.

Page 8

 
AMPERSAND TRAVEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
49,000
49,000


49,000
49,000

Amounts falling due 1-2 years

Bank loans
49,000
49,000


49,000
49,000

Amounts falling due 2-5 years

Bank loans
106,167
147,000


106,167
147,000


204,167
245,000



11.


Contingent liabilities and regulatory requirements

In order to offer air inclusive package holidays, the company requires the annual renewal by the Civil Aviation Authority (‘CAA’) of its Air Travel Organisers’ licence (‘ATOL’) license. The CAA grants this license based on meeting agreed financial criteria and renews this in September (effective 1st October) each year. The company has complied with these requirements in previous years and the directors see no reasons why the ATOL license will not be renewed in September 2023.
There were no material contingent liabilities as at 31 March 2023.


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 £11,563 (2022: £3,230) . Contributions totalling £1,300 (2022: £407) were payable to the fund at the reporting date and are included in creditors.

Page 9

 
AMPERSAND TRAVEL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

13.


Related party transactions

During the year the company had a loan account with a key member of personnel. Interest of £1,324 (2022: £1,261) was charged in the year. The balance at the year end was £54,272 (2022: £52,948), owed to the company.
During the year the company had a loan account with 7 Koppies (Pty) Limited, a company connected through a common director. The balance at the year end was £292,938 (2022: £297,894), owed to the company.


14.


Post balance sheet events

The directors have concluded that no other material events have occurred since the date of approval of these financial statements that would affect the financial statements of the Company.


15.


Controlling party

There is no ultimate controlling party.

 
Page 10