Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-311510The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity2216truetrue 04671669 2023-04-01 2024-03-31 04671669 2022-04-01 2023-03-31 04671669 2024-03-31 04671669 2023-03-31 04671669 2022-04-01 04671669 c:CompanySecretary1 2023-04-01 2024-03-31 04671669 c:Director1 2023-04-01 2024-03-31 04671669 c:Director2 2023-04-01 2024-03-31 04671669 c:Director3 2023-04-01 2024-03-31 04671669 c:RegisteredOffice 2023-04-01 2024-03-31 04671669 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 04671669 d:Buildings d:LongLeaseholdAssets 2024-03-31 04671669 d:Buildings d:LongLeaseholdAssets 2023-03-31 04671669 d:MotorVehicles 2023-04-01 2024-03-31 04671669 d:MotorVehicles 2024-03-31 04671669 d:MotorVehicles 2023-03-31 04671669 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04671669 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04671669 d:FurnitureFittings 2023-04-01 2024-03-31 04671669 d:FurnitureFittings 2024-03-31 04671669 d:FurnitureFittings 2023-03-31 04671669 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04671669 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04671669 d:OfficeEquipment 2023-04-01 2024-03-31 04671669 d:OfficeEquipment 2024-03-31 04671669 d:OfficeEquipment 2023-03-31 04671669 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04671669 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04671669 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04671669 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04671669 d:CurrentFinancialInstruments 2024-03-31 04671669 d:CurrentFinancialInstruments 2023-03-31 04671669 d:Non-currentFinancialInstruments 2024-03-31 04671669 d:Non-currentFinancialInstruments 2023-03-31 04671669 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04671669 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04671669 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 04671669 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04671669 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 04671669 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 04671669 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 04671669 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 04671669 d:ShareCapital 2024-03-31 04671669 d:ShareCapital 2023-03-31 04671669 d:RetainedEarningsAccumulatedLosses 2024-03-31 04671669 d:RetainedEarningsAccumulatedLosses 2023-03-31 04671669 c:OrdinaryShareClass1 2023-04-01 2024-03-31 04671669 c:OrdinaryShareClass1 2024-03-31 04671669 c:OrdinaryShareClass1 2023-03-31 04671669 c:FRS102 2023-04-01 2024-03-31 04671669 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04671669 c:FullAccounts 2023-04-01 2024-03-31 04671669 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04671669 2 2023-04-01 2024-03-31 04671669 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 04671669 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 04671669 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 04671669 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 04671669 d:OtherDeferredTax 2024-03-31 04671669 d:OtherDeferredTax 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04671669









FERNHILL TRAVEL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
FERNHILL TRAVEL LIMITED
 
 
COMPANY INFORMATION


Directors
M J Holgate 
R W Holgate 
S Rowland 




Company secretary
R W Holgate



Registered number
04671669



Registered office
Prince Albert House
20 King Street

Maidenhead

Berkshire

United Kingdom

SL6 1DT




Accountants
Donald Reid Limited
Chartered Accountants

18a/20 King Street

Maidenhead

Berkshire

United Kingdom

SL6 1DT





 
FERNHILL TRAVEL LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 14


 
FERNHILL TRAVEL LIMITED
REGISTERED NUMBER: 04671669

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,763,129
962,457

  
1,763,129
962,457

Current assets
  

Debtors: amounts falling due within one year
 5 
520,110
545,008

Cash at bank and in hand
 6 
98,712
124,753

  
618,822
669,761

Creditors: amounts falling due within one year
 7 
(524,840)
(493,721)

Net current assets
  
 
 
93,982
 
 
176,040

Total assets less current liabilities
  
1,857,111
1,138,497

Creditors: amounts falling due after more than one year
 8 
(1,252,854)
(589,440)

Provisions for liabilities
  

Deferred tax
 10 
(233,047)
(185,895)

  
 
 
(233,047)
 
 
(185,895)

Net assets
  
371,210
363,162


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
371,110
363,062

  
371,210
363,162


Page 1

 
FERNHILL TRAVEL LIMITED
REGISTERED NUMBER: 04671669
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 on 24 July 2024.







S Rowland
Director

The notes on pages 3 to 14 form part of these financial statements.

Page 2

 
FERNHILL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Fernhill Travel Limited is a private company limited by shares. The company is incorporated in the United Kingdom and registered in England and Wales. The registered office is 18a/20 King Street, Maidenhead, Berkshire, United Kingdom, SL6 1DT. The principal activity of the company is that of coach operator. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with 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 is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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 3

 
FERNHILL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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:

Improvements to leasehold property
-
10%
Motor vehicles
-
15%
Fixtures and fittings
-
25%
Office equipment
-
33%

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.

 
2.4

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.

 
2.5

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.

 
2.6

Financial instruments

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

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Page 4

 
FERNHILL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company'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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets
Page 5

 
FERNHILL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.7

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.

 
2.8

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

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.

 
2.10

Operating leases: the Company as lessee

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

 
2.11

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 6

 
FERNHILL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.
 
2.14

Borrowing costs

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

 
2.15

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 7

 
FERNHILL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.16

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 balance sheet 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 balance sheet 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 balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2023 - 16).

Page 8

 
FERNHILL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Improvements to property
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£



Cost or valuation


At 1 April 2023
15,102
2,476,586
21,350
1,500


Additions
-
1,151,002
2,511
-


Disposals
-
(382,205)
-
-



At 31 March 2024

15,102
3,245,383
23,861
1,500



Depreciation


At 1 April 2023
910
1,529,604
20,067
1,500


Charge for the year on owned assets
1,510
33,475
869
-


Charge for the year on financed assets
-
210,135
-
-


Disposals
-
(275,353)
-
-



At 31 March 2024

2,420
1,497,861
20,936
1,500



Net book value



At 31 March 2024
12,682
1,747,522
2,925
-



At 31 March 2023
14,192
946,982
1,283
-
Page 9

 
FERNHILL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 April 2023
2,514,538


Additions
1,153,513


Disposals
(382,205)



At 31 March 2024

3,285,846



Depreciation


At 1 April 2023
1,552,081


Charge for the year on owned assets
35,854


Charge for the year on financed assets
210,135


Disposals
(275,353)



At 31 March 2024

1,522,717



Net book value



At 31 March 2024
1,763,129



At 31 March 2023
962,457


5.


Debtors

2024
2023
£
£


Trade debtors
126,941
150,080

Amounts owed by group undertakings
213,648
272,696

Other debtors
23,891
66,620

Prepayments and accrued income
155,630
55,612

520,110
545,008


Page 10

 
FERNHILL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
98,712
124,753

98,712
124,753



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
37,906
33,003

Trade creditors
168,416
185,428

Corporation tax
-
51,095

Other taxation and social security
18,359
22,120

Obligations under finance lease and hire purchase contracts
292,329
198,771

Other creditors
947
428

Accruals and deferred income
6,883
2,876

524,840
493,721



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
107,173
145,079

Net obligations under finance leases and hire purchase contracts
1,145,681
444,361

1,252,854
589,440


Loans of £1,438,010 (2023: £643,207) are secured over motor vehicles. 

Page 11

 
FERNHILL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
37,906
33,003


37,906
33,003

Amounts falling due 1-2 years

Bank loans
43,540
37,907


43,540
37,907

Amounts falling due 2-5 years

Bank loans
63,633
107,172


63,633
107,172


145,079
178,082


Page 12

 
FERNHILL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
(185,895)
(132,153)


Charged to profit or loss
(47,152)
(53,742)



At end of year
(233,047)
(185,895)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(434,638)
(185,933)

Tax losses carried forward
201,498
-

Other timing differences
93
38

(233,047)
(185,895)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Pension commitments

The  company operates  a  defined  contribution  pension  scheme.  The  assets  of  the  scheme  are  held separately from  those  of  the  company in an independently administered  fund.  The pension cost  charge represents  contributions  payable  by the  company to  the  fund  and  amounted  to  £39,495  (2023: £30,587). Contributions totalling £864 (2023: £398) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

The group has taken exemption from disclosing related party transactions between wholly owned group members under paragraph 33.1A of FRS 102. 

Page 13

 
FERNHILL TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

14.


Controlling party

The controlling party is Rowgate Group Limited by virtue of its owning of 100% of the issued share capital.

 
Page 14