Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity2119true2022-04-01falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07065040 2022-04-01 2023-03-31 07065040 2021-04-01 2022-03-31 07065040 2023-03-31 07065040 2022-03-31 07065040 c:Director1 2022-04-01 2023-03-31 07065040 d:FurnitureFittings 2022-04-01 2023-03-31 07065040 d:FurnitureFittings 2023-03-31 07065040 d:FurnitureFittings 2022-03-31 07065040 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07065040 d:OfficeEquipment 2022-04-01 2023-03-31 07065040 d:OfficeEquipment 2023-03-31 07065040 d:OfficeEquipment 2022-03-31 07065040 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07065040 d:ComputerEquipment 2022-04-01 2023-03-31 07065040 d:ComputerEquipment 2023-03-31 07065040 d:ComputerEquipment 2022-03-31 07065040 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07065040 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 07065040 d:OtherPropertyPlantEquipment 2023-03-31 07065040 d:OtherPropertyPlantEquipment 2022-03-31 07065040 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07065040 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07065040 d:ComputerSoftware 2023-03-31 07065040 d:ComputerSoftware 2022-03-31 07065040 d:CurrentFinancialInstruments 2023-03-31 07065040 d:CurrentFinancialInstruments 2022-03-31 07065040 d:Non-currentFinancialInstruments 2023-03-31 07065040 d:Non-currentFinancialInstruments 2022-03-31 07065040 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07065040 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07065040 d:ShareCapital 2023-03-31 07065040 d:ShareCapital 2022-03-31 07065040 d:SharePremium 2023-03-31 07065040 d:SharePremium 2022-03-31 07065040 d:RetainedEarningsAccumulatedLosses 2023-03-31 07065040 d:RetainedEarningsAccumulatedLosses 2022-03-31 07065040 c:OrdinaryShareClass1 2022-04-01 2023-03-31 07065040 c:OrdinaryShareClass1 2023-03-31 07065040 c:OrdinaryShareClass1 2022-03-31 07065040 c:OrdinaryShareClass2 2022-04-01 2023-03-31 07065040 c:OrdinaryShareClass2 2023-03-31 07065040 c:OrdinaryShareClass2 2022-03-31 07065040 c:OrdinaryShareClass4 2022-04-01 2023-03-31 07065040 c:OrdinaryShareClass4 2023-03-31 07065040 c:OrdinaryShareClass4 2022-03-31 07065040 c:FRS102 2022-04-01 2023-03-31 07065040 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07065040 c:FullAccounts 2022-04-01 2023-03-31 07065040 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07065040 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-04-01 2023-03-31 07065040 2 2022-04-01 2023-03-31 07065040 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07065040 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07065040









HENRY COOKSON ADVENTURES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
HENRY COOKSON ADVENTURES LIMITED
REGISTERED NUMBER: 07065040

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 6 
12,500
-

Tangible assets
 7 
55,221
9,466

  
67,721
9,466

Current assets
  

Debtors: amounts falling due after more than one year
 8 
-
50,000

Debtors: amounts falling due within one year
 8 
1,094,935
1,678,838

Cash at bank and in hand
 9 
951,562
2,702,949

  
2,046,497
4,431,787

Creditors: amounts falling due within one year
 10 
(1,434,799)
(3,952,528)

Net current assets
  
 
 
611,698
 
 
479,259

Total assets less current liabilities
  
679,419
488,725

Provisions for liabilities
  

Deferred tax
 11 
(12,632)
(711)

  
 
 
(12,632)
 
 
(711)

Net assets
  
666,787
488,014


Capital and reserves
  

Called up share capital 
 12 
4
4

Share premium account
  
30,342
30,342

Profit and loss account
  
636,441
457,668

  
666,787
488,014


Page 1

 
HENRY COOKSON ADVENTURES LIMITED
REGISTERED NUMBER: 07065040
    
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 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 on 12 October 2023.




................................................
Henry Cookson
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
HENRY COOKSON ADVENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is a private company limited by share capital, incorporated in England and Wales. The address of its registered office is 2 Clearwater Terrace, London, W11 4XL.

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.

 
2.2

Going concern

The travel industry is experiencing the benefit of a post COVID-19 bounce back in travel, however it is still experiencing the knock-on effect of the pandemic in relation to supplier resource and ability to service.  This combined with consumer unease in relation to the current economic environment, with increasing energy costs and inflation impact and the impact of a further potential surge in infection rates in the coming winter months, has meant that Company management and the directors have continued to review the Company’s financial position, as well as forecasts and plan mitigation actions in order to neutralise the financial impact from the significant downturn in trading seen during the COVID-19 pandemic period.
The directors have prepared budgets to March 2026 which reflect good operational liquidity and profitability throughout. Additionally, they have also performed a sensitivity analysis on the Company's budgets to assess the financial impact of any potential further slowdown in trading. This sensitivity analysis shows that the Company has enough liquidity and cash to trade through a further slowdown.
Company management and the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being at least the following 12 months from the signing of these financial statements.
As a result, and with the Company continuing to receive the full support of its shareholders, the directors believe that it is still appropriate to apply the going concern basis for the foreseeable future.

Page 3

 
HENRY COOKSON ADVENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

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

Turnover represents the total value of travel and commissions. Travel and all holiday arrangements are recognised on a departure date basis. The company defines departure date as the date that first client has departed on the trip in addition to the receipts of non-refundable customer payments of the trip value. Commissions or other income with no departure date is recognized when it becomes due.

 
2.5

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

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.

Page 4

 
HENRY COOKSON ADVENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Interest income

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

 
2.8

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.

 
2.9

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 5

 
HENRY COOKSON ADVENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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:

Fixtures and fittings
-
Over 4 years.
Computer Equipment
-
Over 3 years.
Trip Assets
-
Over 3 years.
Camera Equipment
-
Over 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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

Page 6

 
HENRY COOKSON ADVENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.17

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
a) Critical judgments in applying the Company's accounting policies
The directors believe that there are no critical judgments involved in applying the Company's accounting policies that warrant disclosure.
b) Key accounting estimates and assumptions
The directors believe that there are no key accounting estimates and assumptions involved in applying the Company's accounting policies that warrant disclosure. 


4.


Employees

The average monthly number of employees, including directors, during the year was 21 (2022 - 19).


5.


Dividends

2023
2022
£
£


Dividends paid
54,600
81,026

54,600
81,026

Page 7

 
HENRY COOKSON ADVENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Intangible assets




Computer software

£



Cost


At 1 April 2022
37,188


Additions
12,500



At 31 March 2023

49,688



Amortisation


At 1 April 2022
37,188



At 31 March 2023

37,188



Net book value



At 31 March 2023
12,500



At 31 March 2022
-



Page 8

 
HENRY COOKSON ADVENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Trip assets
Camera equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
23,524
20,630
41,843
1,881
87,878


Additions
3,890
29,573
-
26,685
60,148


Disposals
-
(8,059)
-
-
(8,059)



At 31 March 2023

27,414
42,144
41,843
28,566
139,967



Depreciation


At 1 April 2022
23,524
12,078
41,843
967
78,412


Charge for the year on owned assets
432
8,468
-
4,085
12,985


Disposals
-
(6,651)
-
-
(6,651)



At 31 March 2023

23,956
13,895
41,843
5,052
84,746



Net book value



At 31 March 2023
3,458
28,249
-
23,514
55,221



At 31 March 2022
-
8,552
-
914
9,466

Page 9

 
HENRY COOKSON ADVENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
-
50,000

-
50,000


2023
2022
£
£

Due within one year

Trade debtors
69,902
236,416

Other debtors
349,585
70,000

Prepayments and accrued income
660,787
1,263,148

Tax recoverable
14,661
109,274

1,094,935
1,678,838


Included in prepayments is the sum of £636,636 (2022: £809,276) which relates to advanced supplier payments for bookings departing from 1 April 2023 onwards.


9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
951,562
2,702,949

951,562
2,702,949


Page 10

 
HENRY COOKSON ADVENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
604,389
2,178,284

Corporation tax
44,610
28,378

Other taxation and social security
28,325
-

Other creditors
6,710
46,356

Accruals and deferred income
750,765
1,699,510

1,434,799
3,952,528


Included in accruals and deferred income is the sum of £707,717 (2022: £1,622,958) which relates to advanced customer receipts received for bookings departing from 1 April 2023 onwards.


11.


Deferred taxation




2023


£






At beginning of year
(711)


Charged to profit or loss
(11,921)



At end of year
(12,632)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(12,632)
(711)

(12,632)
(711)

Page 11

 
HENRY COOKSON ADVENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



192,085 (2022 - 192,085) Ordinary shares of £0.00001- each
2.00
2.00
10,000 (2022 - 10,000) Ordinary B shares of £0.00001- each
1.00
1.00
10,000 (2022 - 10,000) Ordinary D shares of £0.00001- each
1.00
1.00

4.00

4.00



13.


Related party transactions

Henry Cookson Property Investments Limited - related by common directors and shareholder. 
During the year the company paid rent amounting to £69,996 (2022 - £69,996) to HCPI. 
At balance sheet date, £120,000 (2022 - £70,000) was payable from HCPI Ltd and is contained in Other debtors.
Included within other debtors is a loan of £57,768 (2022 - £9,770 owing to Henry Cookson) owing by director Henry Cookson, as well as a loan of £925 (2022 - £5,703) owing to director Samuel Bradley, and a loan of £519 (2022 - £10,706) owing to director Nicholas James Layton Davies. 
Open Waters Trading Company Ltd - related by common directors and shareholder. 
During the year the Company paid consultancy fees of £62,496 (2022 - £415,224) to Open Waters Trading Company Limited. At the balance sheet date Open Waters Trading Comapny Ltd owed Henry Cookson Adventures Ltd £171,817 and is included in Other debtors (2022: £83,045 owed to Open Waters Trading Company Limited and included in Trade  creditors).


14.


Controlling party

The ultimate controlling party is H Cookson, a director, by virtue of his majority holding in the ordinary shares of the Company

 
Page 12