Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-3113false2023-01-01No description of principal activity11falsetrue 07849358 2023-01-01 2023-12-31 07849358 2022-01-01 2022-12-31 07849358 2023-12-31 07849358 2022-12-31 07849358 1 2023-01-01 2023-12-31 07849358 d:Director1 2023-01-01 2023-12-31 07849358 c:Buildings c:LongLeaseholdAssets 2023-01-01 2023-12-31 07849358 c:Buildings c:LongLeaseholdAssets 2023-12-31 07849358 c:Buildings c:LongLeaseholdAssets 2022-12-31 07849358 c:PlantMachinery 2023-01-01 2023-12-31 07849358 c:PlantMachinery 2023-12-31 07849358 c:PlantMachinery 2022-12-31 07849358 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07849358 c:FurnitureFittings 2023-01-01 2023-12-31 07849358 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07849358 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 07849358 c:ComputerSoftware 2023-12-31 07849358 c:ComputerSoftware 2022-12-31 07849358 c:CurrentFinancialInstruments 2023-12-31 07849358 c:CurrentFinancialInstruments 2022-12-31 07849358 c:Non-currentFinancialInstruments 2023-12-31 07849358 c:Non-currentFinancialInstruments 2022-12-31 07849358 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 07849358 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 07849358 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 07849358 c:Non-currentFinancialInstruments c:AfterOneYear 2022-12-31 07849358 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-12-31 07849358 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-12-31 07849358 c:ShareCapital 2023-12-31 07849358 c:ShareCapital 2022-12-31 07849358 c:SharePremium 2023-01-01 2023-12-31 07849358 c:SharePremium 2023-12-31 07849358 c:SharePremium 2022-12-31 07849358 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07849358 c:RetainedEarningsAccumulatedLosses 2023-12-31 07849358 c:RetainedEarningsAccumulatedLosses 2022-12-31 07849358 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-01-01 2023-12-31 07849358 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 07849358 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-12-31 07849358 d:OrdinaryShareClass1 2023-01-01 2023-12-31 07849358 d:OrdinaryShareClass1 2023-12-31 07849358 d:OrdinaryShareClass1 2022-12-31 07849358 d:FRS102 2023-01-01 2023-12-31 07849358 d:Audited 2023-01-01 2023-12-31 07849358 d:FullAccounts 2023-01-01 2023-12-31 07849358 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07849358 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07849358 2 2023-01-01 2023-12-31 07849358 c:ComputerSoftware c:OwnedIntangibleAssets 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07849358









SIMPLEXITY TRAVEL MANAGEMENT LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SIMPLEXITY TRAVEL MANAGEMENT LIMITED
REGISTERED NUMBER: 07849358

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
55
1,389

Tangible assets
 5 
26,885
7,964

  
26,940
9,353

Current assets
  

Debtors: amounts falling due within one year
 6 
695,210
852,527

Cash at bank and in hand
 7 
622,031
309,037

  
1,317,241
1,161,564

Creditors: amounts falling due within one year
 8 
(796,000)
(680,022)

Net current assets
  
 
 
521,241
 
 
481,542

Total assets less current liabilities
  
548,181
490,895

Creditors: amounts falling due after more than one year
  
(60,000)
(97,288)

Provisions for liabilities
  

Other provisions
  
-
(1,390)

  
 
 
-
 
 
(1,390)

Net assets
  
488,181
392,217


Capital and reserves
  

Called up share capital 
  
200
200

Share premium account
  
64,904
64,904

Profit and loss account
  
423,077
327,113

  
488,181
392,217


Page 1

 
SIMPLEXITY TRAVEL MANAGEMENT LIMITED
REGISTERED NUMBER: 07849358
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 June 2024.




C A Devine
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
SIMPLEXITY TRAVEL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Simplexity Travel Management Limited (the "Company") is a private company limited by shares and incorporated and domiciled in England in the UK. The registered number 07849358 and the registered address is 5th Floor, 3 Hanover Square, Mayfair, London, England, W1S 1HD.
The principal activity of the Company continued to be that of travel management for corporate clients and individuals.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
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.

 
2.3

Revenue

Turnover represents amounts earned during the year from transaction fees, management fees, commissions receivable and other income in accordance with contractual arrangement, exclusive of Value Added Tax.
Revenue from the rendering of services is measured at the point when risk of the service transaction is transferred in the reporting period, provided that the outcome can be reliably estimated. This is the booking date, where the Company acts as an agent and departure date when it acts as principal. 

 
2.4

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.

Page 3

 
SIMPLEXITY TRAVEL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Interest income

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

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

 
2.9

Taxation

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.

 
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.

 The estimated useful lives range as follows:

Website costs
-
5
years

Page 4

 
SIMPLEXITY TRAVEL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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.

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:

Long-term leasehold property
-
Over the lease term
Plant and machinery
-
Over 5 years
Fixtures and fittings
-
Over 5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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.

  
2.15

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the
reporting date and carried forward to future periods. This is measured at the undiscounted salary cost
of the future holiday entitlement so accrued at the reporting date.

Page 5

 
SIMPLEXITY TRAVEL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 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 balance sheet 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 Balance Sheet.

  
2.17

Advance receipts and payments

All revenue relating to tours with departure dates after the year end are treated as advance receipts at the balance sheet date and are separately disclosed under accruals and deferred income. Payments made to suppliers in respect of these trips are included in prepayments.

  
2.18

Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. 
The estimates and associated assumptions are based on historical experience and other factors that are recognised to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the Statement of comprehensive income in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.
The Company did not have any critical judgements or key sources of estimation uncertainty  for the year ended 31 December 2023.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2022 - 11).

Page 6

 
SIMPLEXITY TRAVEL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Website Costs

£



Cost


At 1 January 2023
57,336



At 31 December 2023

57,336



Amortisation


At 1 January 2023
55,947


Charge for the year on owned assets
1,333



At 31 December 2023

57,280



Net book value



At 31 December 2023
56



At 31 December 2022
1,389



Page 7

 
SIMPLEXITY TRAVEL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 January 2023
26,355
219,180
245,535


Additions
-
26,651
26,651



At 31 December 2023

26,355
245,831
272,186



Depreciation


At 1 January 2023
26,355
211,216
237,571


Charge for the year on owned assets
-
7,730
7,730



At 31 December 2023

26,355
218,946
245,301



Net book value



At 31 December 2023
-
26,885
26,885



At 31 December 2022
-
7,964
7,964


6.


Debtors

2023
2022
£
£


Trade debtors
301,709
617,535

Other debtors
240,811
132,853

Prepayments and accrued income
152,690
102,139

695,210
852,527


Page 8

 
SIMPLEXITY TRAVEL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
622,031
309,037

622,031
309,037



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
40,000
41,400

Trade creditors
345,401
497,719

Corporation tax
24,822
27,838

Other taxation and social security
14,921
21,971

Other creditors
50,904
66,072

Accruals and deferred income
319,952
25,022

796,000
680,022


At the year end, the company had an outstanding BSP liability of £106,882 (2022:£30,000).


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
60,000
97,288

60,000
97,288


Page 9

 
SIMPLEXITY TRAVEL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
40,000
41,400


40,000
41,400

Amounts falling due 1-2 years

Bank loans
60,000
97,288


60,000
97,288



100,000
138,688


The bank loan is secured by way of a fixed and floating charge over all the property of the company. The bank loan is repayable over equal monthly instalments commencing in July 2021, and interest is charged on floating rate basis (minimum 4.59% per annum), paid monthly.


11.


Provisions





Provision

£





At 1 January 2023
1,390


Charged to profit or loss
(1,390)



At 31 December 2023
-


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



200 (2022 - 200) Ordinary Shares shares of £1.00 each
200
200


Page 10

 
SIMPLEXITY TRAVEL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Reserves

Share premium account

At 31 December 2023, the Company had a share premium account of £64,904 (2022: £64,904).

Profit and loss account

At 31 December 2023, the Company had retained earnings of £423,077 (2022: £327,113).


14.


Pension commitments

The Company operates a number of defined contribution pension plans. The total expense relating to these plans in the period ended 31 December 2023 was £17,522 (2022:£12,189). The pension liability at 31 December 2023 was 3,885 (2022: £3,286).


15.


Post balance sheet events

The directors confirm there have been no significant event affecting the Company since the year end..


16.


Controlling party

The Company is under the control of its Director, Mr C Devine.


17.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 14 June 2024 by Yasin Khandwalla FCCA (Senior Statutory Auditor) on behalf of Xeinadin Audit Limited.

 
Page 11