Caseware UK (AP4) 2022.0.179 2022.0.179 2023-09-302023-09-302022-10-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseTravel agency activities2521truetrue SC315240 2022-10-01 2023-09-30 SC315240 c:OtherGroupMember1 2022-10-01 2023-09-30 SC315240 c:OtherGroupMember2 2022-10-01 2023-09-30 SC315240 c:EntityControlledByKeyManagementPersonnel1 2022-10-01 2023-09-30 SC315240 2021-10-01 2022-09-30 SC315240 2023-09-30 SC315240 c:EntityControlledByKeyManagementPersonnel1 2023-09-30 SC315240 c:OtherGroupMember1 2023-09-30 SC315240 c:OtherGroupMember2 2023-09-30 SC315240 2022-09-30 SC315240 c:EntityControlledByKeyManagementPersonnel1 2022-09-30 SC315240 c:OtherGroupMember1 2022-09-30 SC315240 c:OtherGroupMember2 2022-09-30 SC315240 d:Director1 2022-10-01 2023-09-30 SC315240 c:Buildings 2022-10-01 2023-09-30 SC315240 c:Buildings 2023-09-30 SC315240 c:Buildings 2022-09-30 SC315240 c:Buildings c:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC315240 c:Buildings c:LongLeaseholdAssets 2022-10-01 2023-09-30 SC315240 c:Buildings c:LongLeaseholdAssets 2023-09-30 SC315240 c:Buildings c:LongLeaseholdAssets 2022-09-30 SC315240 c:MotorVehicles 2022-10-01 2023-09-30 SC315240 c:MotorVehicles 2023-09-30 SC315240 c:MotorVehicles 2022-09-30 SC315240 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC315240 c:FurnitureFittings 2022-10-01 2023-09-30 SC315240 c:FurnitureFittings 2023-09-30 SC315240 c:FurnitureFittings 2022-09-30 SC315240 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC315240 c:ComputerEquipment 2022-10-01 2023-09-30 SC315240 c:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 SC315240 c:OtherPropertyPlantEquipment 2023-09-30 SC315240 c:OtherPropertyPlantEquipment 2022-09-30 SC315240 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC315240 c:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC315240 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 SC315240 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-30 SC315240 c:CurrentFinancialInstruments 2023-09-30 SC315240 c:CurrentFinancialInstruments 2022-09-30 SC315240 c:Non-currentFinancialInstruments 2023-09-30 SC315240 c:Non-currentFinancialInstruments 2022-09-30 SC315240 c:CurrentFinancialInstruments c:WithinOneYear 2023-09-30 SC315240 c:CurrentFinancialInstruments c:WithinOneYear 2022-09-30 SC315240 c:Non-currentFinancialInstruments c:AfterOneYear 2023-09-30 SC315240 c:Non-currentFinancialInstruments c:AfterOneYear 2022-09-30 SC315240 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-09-30 SC315240 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-09-30 SC315240 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-09-30 SC315240 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-09-30 SC315240 c:ShareCapital 2023-09-30 SC315240 c:ShareCapital 2022-09-30 SC315240 c:RevaluationReserve 2022-10-01 2023-09-30 SC315240 c:RevaluationReserve 2023-09-30 SC315240 c:RevaluationReserve 2022-09-30 SC315240 c:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 SC315240 c:RetainedEarningsAccumulatedLosses 2023-09-30 SC315240 c:RetainedEarningsAccumulatedLosses 2022-09-30 SC315240 d:FRS102 2022-10-01 2023-09-30 SC315240 d:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 SC315240 d:FullAccounts 2022-10-01 2023-09-30 SC315240 d:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC315240 c:Subsidiary1 2022-10-01 2023-09-30 SC315240 c:Subsidiary1 1 2022-10-01 2023-09-30 SC315240 2 2022-10-01 2023-09-30 SC315240 5 2022-10-01 2023-09-30 SC315240 6 2022-10-01 2023-09-30 SC315240 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:OwnedIntangibleAssets 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: SC315240










CASHEL TRAVEL LIMITED








 
 
UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
CASHEL TRAVEL LIMITED
REGISTERED NUMBER: SC315240

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
19
465

Tangible assets
 5 
626,400
552,244

Investments
 6 
134,557
85,358

  
760,976
638,067

Current assets
  

Debtors: amounts falling due within one year
 7 
1,006,085
1,092,255

Cash at bank and in hand
 8 
730,352
817,058

  
1,736,437
1,909,313

Creditors: amounts falling due within one year
 9 
(1,613,266)
(2,118,571)

Net current assets/(liabilities)
  
 
 
123,171
 
 
(209,258)

Total assets less current liabilities
  
884,147
428,809

Creditors: amounts falling due after more than one year
 10 
-
(213,932)

Provisions for liabilities
  

Deferred tax
  
(11,091)
-

  
 
 
(11,091)
 
 
-

Net assets
  
873,056
214,877


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
 12 
50,000
50,000

Profit and loss account
 12 
822,956
164,777

  
873,056
214,877


Page 1

 
CASHEL TRAVEL LIMITED
REGISTERED NUMBER: SC315240
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 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 by: 




J Aitken
Director

Date: 28 February 2024

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
CASHEL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Cashel Travel Limited is a private company limited by shares incorporated in Scotland, United Kingdom.
The address of the registered office is given in the Company Information of these financial statements. 
The nature of the Company's operations and principal activities are that of a travel management company.

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

Revenue

Revenue and expenses relating to tours are taken to the profit and loss account at the date of departure.

 
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.

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 3

 
CASHEL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

  
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 prior 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

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.

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

Page 4

 
CASHEL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
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.

  
2.11

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. 

 
2.12

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.

 
2.13

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.

Page 5

 
CASHEL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.13
Tangible fixed assets (continued)

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:

Freehold property
-
not depreciated
Long-term leasehold property
-
not depreciated
Motor vehicles
-
20%
on reducing balance
Fixtures and fittings
-
25%
on cost
Computer equipment
-
15%
on cost

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.

 
2.14

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.15

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 reporting 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.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.16

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

 
CASHEL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.17

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.

 
2.18

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.

 
2.19

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.

 
2.20

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.


Employees

The average monthly number of employees, including directors, during the year was 25 (2022 - 21).

Page 7

 
CASHEL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Intangible assets




Development expenditure

£



Cost


At 1 October 2022
4,628



At 30 September 2023

4,628



Amortisation


At 1 October 2022
4,163


Charge for the year on owned assets
446



At 30 September 2023

4,609



Net book value



At 30 September 2023
19



At 30 September 2022
465



Page 8

 
CASHEL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Tangible fixed assets





Freehold property
Long-term leasehold property
Motor vehicles
Fixtures and fittings
Other fixed assets

£
£
£
£
£



Cost or valuation


At 1 October 2022
423,900
11,999
122,006
72,926
86,701


Additions
-
16,406
82,496
-
11,467



At 30 September 2023

423,900
28,405
204,502
72,926
98,168



Depreciation


At 1 October 2022
-
-
23,508
72,152
69,628


Charge for the year on owned assets
-
-
30,348
570
5,295



At 30 September 2023

-
-
53,856
72,722
74,923



Net book value



At 30 September 2023
423,900
28,405
150,646
204
23,245



At 30 September 2022
423,900
11,999
98,498
774
17,073
Page 9

 
CASHEL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 October 2022
717,532


Additions
110,369



At 30 September 2023

827,901



Depreciation


At 1 October 2022
165,288


Charge for the year on owned assets
36,213



At 30 September 2023

201,501



Net book value



At 30 September 2023
626,400



At 30 September 2022
552,244

Page 10

 
CASHEL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 October 2022
10,000
75,358
85,358


Additions
-
49,199
49,199



At 30 September 2023
10,000
124,557
134,557





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

Great Trips Limited
Ordinary
100%


7.


Debtors

2023
2022
£
£


Trade debtors
337,228
707,135

Amounts owed by other paricipating interest
-
2,466

Other debtors
363,756
376,726

Prepayments and accrued income
305,101
5,928

1,006,085
1,092,255



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
730,352
817,058

730,352
817,058


Page 11

 
CASHEL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
63,996

Trade creditors
295,330
1,246,436

Amounts owed to group undertakings
13,292
9,923

Corporation tax
223,960
74,049

Other taxation and social security
17,974
15,119

Other creditors
38,244
83,448

Accruals and deferred income
1,024,466
625,600

1,613,266
2,118,571



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
213,932



11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
63,996


-
63,996

Amounts falling due 1-2 years

Bank loans
-
63,996

Amounts falling due 2-5 years

Bank loans
-
149,936


-
277,928




Page 12

 
CASHEL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

12.


Reserves

Revaluation reserve

The revaluation reserve includes £50,000 (2022: £50,000) as a result of a fair value revlaution of freehold property.

Profit and loss account

Profit and loss includes all current and prior periods retained profit.


13.


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. Contributions totalling £3,568 (2022: £3,996) were payable to the fund at the reporting date and are included in other creditors.


14.


Related party transactions

During the year, director J Aitken had a loan account with the Company. At the year end, J Aitken owed £10,976 (2022: £432 was owed to James by the company) to the Company.
Travelmediate UK Ltd, a related company by virtue of having a director in common, owed the company  £- (2022: £2,466).
Great Trips Ltd, a subsidiary of Cashel Travel Limited, was owed £13,292 (2022: £9,923) by the Company at the year end date.
Tiernan Tarvel Ltd, a joint venture, owed a balance of £54,200 (2022: £16,500) to the company at the year end date.
Cashel Travel Ltd Ireland, a connected company, owed the Company £- (2022: £-).

 
Page 13