Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-312023-10-31false2022-11-01falseThat of a holding company of a trading group.00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12855283 2022-11-01 2023-10-31 12855283 2021-11-01 2022-10-31 12855283 2023-10-31 12855283 2022-10-31 12855283 c:Director3 2022-11-01 2023-10-31 12855283 d:FurnitureFittings 2022-11-01 2023-10-31 12855283 d:OfficeEquipment 2022-11-01 2023-10-31 12855283 d:ComputerEquipment 2022-11-01 2023-10-31 12855283 d:Goodwill 2022-11-01 2023-10-31 12855283 d:CurrentFinancialInstruments 2023-10-31 12855283 d:CurrentFinancialInstruments 2022-10-31 12855283 d:CurrentFinancialInstruments 1 2023-10-31 12855283 d:CurrentFinancialInstruments 1 2022-10-31 12855283 d:CurrentFinancialInstruments 3 2023-10-31 12855283 d:CurrentFinancialInstruments 3 2022-10-31 12855283 d:Non-currentFinancialInstruments 2023-10-31 12855283 d:Non-currentFinancialInstruments 2022-10-31 12855283 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 12855283 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 12855283 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 12855283 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 12855283 d:ShareCapital 2023-10-31 12855283 d:ShareCapital 2022-10-31 12855283 d:OtherMiscellaneousReserve 2022-11-01 2023-10-31 12855283 d:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 12855283 d:RetainedEarningsAccumulatedLosses 2023-10-31 12855283 d:RetainedEarningsAccumulatedLosses 2022-10-31 12855283 d:RetainedEarningsAccumulatedLosses 2021-11-01 12855283 c:FRS102 2022-11-01 2023-10-31 12855283 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 12855283 c:FullAccounts 2022-11-01 2023-10-31 12855283 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12855283 c:Consolidated 2023-10-31 12855283 c:ConsolidatedGroupCompanyAccounts 2022-11-01 2023-10-31 12855283 2 2022-11-01 2023-10-31 12855283 6 2022-11-01 2023-10-31 12855283 9 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 12855283









MEANINGFUL TRAVEL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
MEANINGFUL TRAVEL LIMITED
REGISTERED NUMBER: 12855283

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
190,479
21,435

Tangible assets
 5 
50,412
21,584

  
240,891
43,019

Current assets
  

Debtors: amounts falling due within one year
 7 
528,575
451,236

Cash at bank and in hand
 8 
481,673
322,633

  
1,010,248
773,869

Creditors: amounts falling due within one year
 9 
(893,511)
(865,545)

Net current assets/(liabilities)
  
 
 
116,737
 
 
(91,676)

Total assets less current liabilities
  
357,628
(48,657)

Creditors: amounts falling due after more than one year
 10 
(687,155)
(321,209)

Provisions for liabilities
  

Deferred taxation
 11 
(12,075)
(4,987)

  
 
 
(12,075)
 
 
(4,987)

Net liabilities
  
(341,602)
(374,853)


Capital and reserves
  

Called up share capital 
  
27
27

Other reserves
 12 
5,251
-

Profit and loss account
 12 
(346,880)
(374,880)

  
(341,602)
(374,853)


Page 1

 
MEANINGFUL TRAVEL LIMITED
REGISTERED NUMBER: 12855283
    
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 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 consolidated 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 5 March 2024.




L A Williams
Director

The notes on pages 5 to 17 form part of these financial statements.

Page 2

 
MEANINGFUL TRAVEL LIMITED
REGISTERED NUMBER: 12855283

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 6 
581,639
390,834

  
581,639
390,834

Current assets
  

Debtors: amounts falling due within one year
 7 
17
6,684

Cash at bank and in hand
 8 
16,930
17,170

  
16,947
23,854

Creditors: amounts falling due within one year
 9 
(441,126)
(192,863)

Net current liabilities
  
 
 
(424,179)
 
 
(169,009)

Total assets less current liabilities
  
157,460
221,825

  

Creditors: amounts falling due after more than one year
 10 
(111,334)
(161,334)

  

Net assets
  
46,126
60,491


Capital and reserves
  

Called up share capital 
  
27
27

Profit and loss account brought forward
  
60,464
31,733

Loss/(profit) for the year

  

(14,365)
28,731

Profit and loss account carried forward
  
46,099
60,464

  
46,126
60,491


Page 3

 
MEANINGFUL TRAVEL LIMITED
REGISTERED NUMBER: 12855283
    
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of 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 consolidated 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 5 March 2024.


L A Williams
Director

The notes on pages 5 to 17 form part of these financial statements.

Page 4

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

As disclosed in the Directors' Report, the principal activity of the Company in the year under review was that of a holding company of a trading group. The principal activity of the Group in the year under review was that of tour operators and travel agents. 
The Company is a private company limited by shares and is incorporated in England. The address of the Company's principal place of business and registered office is Abbey House, 282 Farnborough Road, Farnborough, Hampshire, GU14 7NA.

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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Going concern

Tours to Israel have been affected by global events. The Group was already in the process of diversifiying its tours so that it is less reliant on holidays to Israel and it aims to continue this strategy. The directors expect for the proportion of their revenue coming from trips to Israel to decline moderately as the Group expands into Europe and other areas.
The directors have prepared budgets and cashflow forecasts to February 2025 which reflect good operational liquidity and profitability throughout. Group management and the directors have a reasonable expecation that the Group has adequate resources to continue in operational existence for the forseaable future, being at least the following 12 months from the signing of these financial statements.
As a result the directors believe that is still appropiate to apply the going concern basis for the forseeable future.

Page 5

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

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 Consolidated 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'.

 
2.5

Revenue

Revenue is recogised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Turnover is recognised, net of value added tax, when tours have departed. Commision is recognised in respect of holiday insurance on a net basis at point of receipt.

 
2.6

Operating leases: the Group 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.

 
2.7

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.

Page 6

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.9

Borrowing costs

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

 
2.10

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Group in independently administered funds.

 
2.11

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 and the Group operate and generate 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 7

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.12

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 the Group's share 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 Consolidated 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.

 
2.13

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.

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:

Fixtures and fittings
-
20%
Reducing balance
Office equipment
-
20%
Reducing balance
Website development
-
25%
Reducing balance

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.15

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 8

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.16

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.

 
2.17

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.

 
2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 9

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.19

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Group's Statement of Financial Position when the Group becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Page 10

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.20

Hedge accounting

The Group uses foreign currency forward contracts to manage its exposure to cash flow risk on its future creditors payable in foreign currencies. These derivatives are measured at fair value at each reporting date.

To the extent the cash flow hedge is effective, movements in fair value are recognised in other comprehensive income and presented in a separate cash flow hedge reserve. Any ineffective portions of those movements are recognised in profit or loss for the year.

Gains and losses on the hedging instruments and the hedged items are recognised in profit or loss for the year. When a hedged item is an unrecognised firm commitment, the cumulative hedging gain or loss on the hedged item is recognised as an asset or liability with a corresponding gain or loss recognised in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 11).

Page 11

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Intangible assets

Group and Company





Goodwill

£



Cost


At 1 November 2022
26,793


Additions
190,805



At 31 October 2023

217,598



Amortisation


At 1 November 2022
5,358


Charge for the year on owned assets
21,761



At 31 October 2023

27,119



Net book value



At 31 October 2023
190,479



At 31 October 2022
21,435



Page 12

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Tangible fixed assets

Group






Office equipment
Computer equipment
Website development
Total

£
£
£
£



Cost or valuation


At 1 November 2022
79,556
5,365
22,687
107,608


Additions
14,975
732
18,990
34,697



At 31 October 2023

94,531
6,097
41,677
142,305



Depreciation


At 1 November 2022
68,914
727
16,383
86,024


Charge for the year on owned assets
2,753
946
2,170
5,869



At 31 October 2023

71,667
1,673
18,553
91,893



Net book value



At 31 October 2023
22,864
4,424
23,124
50,412



At 31 October 2022
10,642
4,638
6,304
21,584

Page 13

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2022
390,834


Additions
190,805



At 31 October 2023
581,639




During the year, the Company settled all outstanding contingent consideration arising from its acquisition of McCabe Travel Limited on 23 December 2020, which was contingent upon results for the year ended 31 October 2022. The final amount of deferred consideration paid which exceeded the estimate made on 23 December 2020 has been treated as an addition to the investment in McCabe Travel Limited during the year. 



7.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Trade debtors
14,442
-
-
-

Other debtors
241,747
286,454
17
6,684

Prepayments and accrued income
267,135
150,122
-
-

Tax recoverable
-
9,818
-
-

Social Security and Other taxes
-
4,842
-
-

Financial instruments
5,251
-
-
-

528,575
451,236
17
6,684


Page 14

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

8.


Cash and cash equivalents

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
481,673
322,633
16,930
17,170

481,673
322,633
16,930
17,170



9.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
25,000
53,170
-
-

Deferred Income
666,188
490,365
-
-

Trade creditors
151,512
162,921
-
-

Amounts owed to group undertakings
-
-
435,454
183,196

Other taxation and social security
18,023
11,026
5,672
6,667

Finance leases and hire purchase contracts
-
1,061
-
-

Other creditors
8,761
9,276
-
-

Accruals
24,027
137,726
-
3,000

893,511
865,545
441,126
192,863



10.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
104,167
129,897
-
-

Other loans
111,334
161,334
111,334
161,334

Deferred Income
471,654
29,978
-
-

687,155
321,209
111,334
161,334


Page 15

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

11.


Deferred taxation


Group



2023


£






At beginning of year
(4,987)


Charged to profit or loss
(7,088)



At end of year
(12,075)

Group
Group
2023
2022
£
£

Accelerated capital allowances
(12,075)
(4,987)

(12,075)
(4,987)


12.


Reserves

Other reserves

Other reserves relate to a cash flow hedging reserve to which, in accordance with the Group's accounting policies, the effective portion of changes in the fair value of foreign exchange forward contract derivatives are recognised.

Profit and loss account

The profit and loss account represents all current and prior period retained profits and losses, less any dividends paid to the Group's shareholders.


13.


Contingent liabilities

At 31 October 2023, there were contingent liabilities outstanding in respect of counter indemnities given by the Group, in the normal course of business, to the Group's bond insurance obligors in respect of the Association of Bonded Travel Organisers Trust Limited ('ABTOT') travel bonds amounting to £60,000.


14.


Pension commitments

The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £13,554 (2022 - £10,362). Contributions totalling £1,951 (2022 - £9,064) were payable to the fund at the reporting date and are included in creditors.

Page 16

 
MEANINGFUL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

15.


Commitments under operating leases

At 31 October 2023 the Group had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
Group
£
£


Not later than 1 year
43,200
26,173

43,200
26,173


16.


Controlling party

In the opinion of the directors, there is no single individual who is the ultimate controlling party of the Company.

 
Page 17