Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30No description of principal activity2022-10-01false1813truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC061066 2022-10-01 2023-09-30 SC061066 2021-10-01 2022-09-30 SC061066 2023-09-30 SC061066 2022-09-30 SC061066 2021-10-01 SC061066 c:Director2 2022-10-01 2023-09-30 SC061066 d:Buildings 2022-10-01 2023-09-30 SC061066 d:Buildings 2023-09-30 SC061066 d:Buildings 2022-09-30 SC061066 d:Buildings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC061066 d:FurnitureFittings 2022-10-01 2023-09-30 SC061066 d:FurnitureFittings 2023-09-30 SC061066 d:FurnitureFittings 2022-09-30 SC061066 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC061066 d:ComputerEquipment 2022-10-01 2023-09-30 SC061066 d:ComputerEquipment 2023-09-30 SC061066 d:ComputerEquipment 2022-09-30 SC061066 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC061066 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 SC061066 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-01 2023-09-30 SC061066 d:ComputerSoftware 2023-09-30 SC061066 d:ComputerSoftware 2022-09-30 SC061066 d:CurrentFinancialInstruments 2023-09-30 SC061066 d:CurrentFinancialInstruments 2022-09-30 SC061066 d:Non-currentFinancialInstruments 2023-09-30 SC061066 d:Non-currentFinancialInstruments 2022-09-30 SC061066 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 SC061066 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 SC061066 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 SC061066 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 SC061066 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 SC061066 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-09-30 SC061066 d:ShareCapital 2022-10-01 2023-09-30 SC061066 d:ShareCapital 2023-09-30 SC061066 d:ShareCapital 2021-10-01 2022-09-30 SC061066 d:ShareCapital 2022-09-30 SC061066 d:ShareCapital 2021-10-01 SC061066 d:RevaluationReserve 2022-10-01 2023-09-30 SC061066 d:RevaluationReserve 2023-09-30 SC061066 d:RevaluationReserve 2021-10-01 2022-09-30 SC061066 d:RevaluationReserve 2022-09-30 SC061066 d:RevaluationReserve 2021-10-01 SC061066 d:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 SC061066 d:RetainedEarningsAccumulatedLosses 2023-09-30 SC061066 d:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 SC061066 d:RetainedEarningsAccumulatedLosses 2022-09-30 SC061066 d:RetainedEarningsAccumulatedLosses 2021-10-01 SC061066 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-09-30 SC061066 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-09-30 SC061066 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 SC061066 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 SC061066 c:OrdinaryShareClass1 2022-10-01 2023-09-30 SC061066 c:OrdinaryShareClass1 2023-09-30 SC061066 c:OrdinaryShareClass1 2022-09-30 SC061066 c:FRS102 2022-10-01 2023-09-30 SC061066 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 SC061066 c:FullAccounts 2022-10-01 2023-09-30 SC061066 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC061066 5 2022-10-01 2023-09-30 SC061066 d:ComputerSoftware d:OwnedIntangibleAssets 2022-10-01 2023-09-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC061066


GLEN TRAVEL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
GLEN TRAVEL LIMITED
REGISTERED NUMBER: SC061066

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
32,088
37,750

Tangible assets
 5 
56,271
330,441

  
88,359
368,191

Current assets
  

Debtors: amounts falling due within one year
 6 
203,848
277,827

Current asset investments
 7 
106,305
-

Cash at bank and in hand
 8 
898,436
1,012,527

  
1,208,589
1,290,354

Creditors: amounts falling due within one year
 9 
(898,865)
(1,244,470)

Net current assets
  
 
 
309,724
 
 
45,884

Total assets less current liabilities
  
398,083
414,075

Creditors: amounts falling due after more than one year
 10 
(66,000)
(188,558)

Provisions for liabilities
  

Deferred tax
  
(13,999)
(12,765)

  
 
 
(13,999)
 
 
(12,765)

Net assets
  
318,084
212,752

Page 1

 
GLEN TRAVEL LIMITED
REGISTERED NUMBER: SC061066

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
60,000
60,000

Revaluation reserve
 15 
-
25,307

Profit and loss account
 15 
258,084
127,445

  
318,084
212,752


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 income and retained earnings 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: 




................................................
Alan John Glen
Director

Date: 22 February 2024

The notes on pages 5 to 15 form part of these financial statements.
Page 2

 
GLEN TRAVEL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 October 2022
60,000
25,307
127,445
212,752


Comprehensive income for the year

Profit for the year

-
-
108,332
108,332
Total comprehensive income for the year
-
-
108,332
108,332


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(3,000)
(3,000)

Transfer to/from profit and loss account
-
(25,307)
25,307
-


Total transactions with owners
-
(25,307)
22,307
(3,000)


At 30 September 2023
60,000
-
258,084
318,084


The notes on pages 5 to 15 form part of these financial statements.

Page 3

 
GLEN TRAVEL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2022


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 October 2021
60,000
25,307
57,789
143,096


Comprehensive income for the year

Profit for the year

-
-
168,656
168,656
Total comprehensive income for the year
-
-
168,656
168,656


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(99,000)
(99,000)


Total transactions with owners
-
-
(99,000)
(99,000)


At 30 September 2022
60,000
25,307
127,445
212,752


The notes on pages 5 to 15 form part of these financial statements.
Page 4

 
GLEN TRAVEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Glen Travel Limited is a private company limited by shares, incorporated in Scotland. The company trades from its registered office at 227 Glasgow Road, Blantyre, Glasgow, G72 0YS. The company's registered number is SC061066. 
The financial statements are presented in Pounds Sterling, rounded to the nearest pound, as this is the currency of the primary economic environment in which the company operates.

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

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 that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

  
2.3

Going Concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Therefore, the directors have adopted the going concern basis of accounting in preparing these financial statements.

Page 5

 
GLEN TRAVEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Turnover represents the gross value of the holidays sold including air tickets, hotel bookings and other related services provided (excluding value added tax).
Turnover is recognised at the date the sales invoice is raised, which is the later of the booking date or the date at which the booking becomes non-cancellable. All deposits are non-refundable and are recognised on reciept.
Currency sales are recognised on the date of the transaction and are included within turnover.
All turnover relates to UK sales.

 
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 Income and Retained Earnings in the same period as the related expenditure.

 
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.

Page 6

 
GLEN TRAVEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 Amortisation is provided on the following bases:

Computer Software
-
15%
on reducing balance

 
2.11

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 7

 
GLEN TRAVEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, detailed below..

Depreciation is provided on the following basis:

Freehold property
-
2%
on cost
Fixtures and fittings
-
25%
on reducing balance
Computer equipment
-
15%
on 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.

 
2.12

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.

 
2.13

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 8

 
GLEN TRAVEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 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

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.

  
2.18

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 18 (2022 - 13).

Page 9

 
GLEN TRAVEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Intangible assets




Computer software

£



Cost


At 1 October 2022
63,926



At 30 September 2023

63,926



Amortisation


At 1 October 2022
26,176


Charge for the year on owned assets
5,663



At 30 September 2023

31,839



Net book value



At 30 September 2023
32,087



At 30 September 2022
37,750



Page 10

 
GLEN TRAVEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Tangible fixed assets





Freehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2022
290,000
100,338
223,417
613,755


Additions
-
584
21,860
22,444


Disposals
(290,000)
-
-
(290,000)



At 30 September 2023

-
100,922
245,277
346,199



Depreciation


At 1 October 2022
5,800
79,809
197,705
283,314


Charge for the year on owned assets
-
5,278
7,136
12,414


Disposals
(5,800)
-
-
(5,800)



At 30 September 2023

-
85,087
204,841
289,928



Net book value



At 30 September 2023
-
15,835
40,436
56,271



At 30 September 2022
284,200
20,529
25,712
330,441


6.


Debtors

2023
2022
£
£


Trade debtors
112,096
183,661

Other debtors
80,911
76,797

Prepayments and accrued income
10,841
17,369

203,848
277,827



7.


Current asset investments

2023
2022
£
£

Unlisted investments (liquid)
106,305
-

106,305
-


Page 11

 
GLEN TRAVEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
898,436
1,012,527

898,436
1,012,527



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
173,435

Other loans
119,732
64,782

Trade creditors
562,200
513,859

Corporation tax
90,346
46,469

Other taxation and social security
15,585
35,525

Other creditors
14,300
21,356

Accruals and deferred income
96,702
389,044

898,865
1,244,470



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
66,000
188,558

66,000
188,558


Page 12

 
GLEN TRAVEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
173,435

Other loans
119,732
64,782


119,732
238,217


Amounts falling due 2-5 years

Other loans
66,000
188,558


66,000
188,558


185,732
426,775


The Bank loan of £173,435 payable as at 2022 was paid in full upon the sale of the premises located at 227 Glasgow Road, Blantyre, G72 0YS.
The CBILS loan within Other loans is secured by the UK government's Enterprise Finance Guarantee.
Other loans of £69,321 relate to a loan covered by the UK Governments Recovery Loan Scheme. 80% of this balance is secured to the lender by a gurantee from the UK Government.


12.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,004,741
1,012,527




Financial assets measured at fair value through profit or loss comprises cash at bank and current asset investments.

Page 13

 
GLEN TRAVEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

13.


Deferred taxation




2023


£






At beginning of year
(12,764)


Charged to profit or loss
(1,235)



At end of year
(13,999)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(13,999)
(12,764)

(13,999)
(12,764)


14.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



60,000 (2022 - 60,000) Ordinary shares of £1.00 each
60,000
60,000



15.


Reserves

Revaluation reserve

The revaluation reserve holds the surplus on freehold property valuations.

Profit and loss account

The profit and loss account comprises accumulated profits and losses of the company.


16.


Pension commitments

The company operate a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independantly administered fund.
The pension cost charge represents contributions payable by the company to the fund and amounted to £6,666 (2022: £3,524). At the balance sheet date the company recognised a liability of £2,854 (2022: £1,645) relating to outstanding pension contributions.

Page 14

 
GLEN TRAVEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

17.


Transactions with directors

During the year advances of £56,747 and credits of £38,526 were made to/by the directors. The balance owed by the Directors to the company as at 30 September 2023 was £4,750.
No interest is charged on these loan balances and there are no specified repayment terms.


18.


Related party transactions

During the period there were sales and purchases between Glen Travel Limited and a company with common directorship of £5,000 (2022: £36,145) and consultancy fees charged by Glen Travel Limited of £4,600 (2022: £6,750).
At the balance sheet date a company with common directorship owed the company £5,750 (2022: £750).


19.


Billing & Settlement Plan UK

The balance owed to BSP at 30 September 2023 was £75,012 (2022: £153,119).


Page 15