Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falsetravel company88truetrue 04150306 2023-01-01 2023-12-31 04150306 2022-01-01 2022-12-31 04150306 2023-12-31 04150306 2022-12-31 04150306 c:CompanySecretary1 2023-01-01 2023-12-31 04150306 c:Director1 2023-01-01 2023-12-31 04150306 c:Director2 2023-01-01 2023-12-31 04150306 c:RegisteredOffice 2023-01-01 2023-12-31 04150306 d:FurnitureFittings 2023-01-01 2023-12-31 04150306 d:FurnitureFittings 2023-12-31 04150306 d:FurnitureFittings 2022-12-31 04150306 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04150306 d:CurrentFinancialInstruments 2023-12-31 04150306 d:CurrentFinancialInstruments 2022-12-31 04150306 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04150306 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04150306 d:ShareCapital 2023-12-31 04150306 d:ShareCapital 2022-12-31 04150306 d:RetainedEarningsAccumulatedLosses 2023-12-31 04150306 d:RetainedEarningsAccumulatedLosses 2022-12-31 04150306 c:FRS102 2023-01-01 2023-12-31 04150306 c:Audited 2023-01-01 2023-12-31 04150306 c:FullAccounts 2023-01-01 2023-12-31 04150306 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04150306 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-01 2023-12-31 04150306 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-31 04150306 d:Subsidiary1 2023-01-01 2023-12-31 04150306 d:Subsidiary1 1 2023-01-01 2023-12-31 04150306 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04150306 2 2023-01-01 2023-12-31 04150306 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 04150306


TAILORED TRAVEL LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
TAILORED TRAVEL LIMITED
 
 
COMPANY INFORMATION


DIRECTORS
J English 
M English 




COMPANY SECRETARY
J English



REGISTERED NUMBER
04150306



REGISTERED OFFICE
8th Floor Becket House
36 Old Jewry

London

EC2R 8DD




INDEPENDENT AUDITORS
Xeinadin Audit Limited
Chartered Accountants & Statutory Auditor

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD





 
TAILORED TRAVEL LIMITED
 

CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 8


 
TAILORED TRAVEL LIMITED
REGISTERED NUMBER: 04150306

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,464
11,283

Investments
 5 
2,000
2,000

  
11,464
13,283

Current assets
  

Debtors: amounts falling due within one year
 6 
442,465
426,255

Cash at bank and in hand
 7 
2,329,020
2,108,057

  
2,771,485
2,534,312

Creditors: amounts falling due within one year
 8 
(766,190)
(675,310)

Net current assets
  
 
 
2,005,295
 
 
1,859,002

Total assets less current liabilities
  
2,016,759
1,872,285

  

Net assets
  
2,016,759
1,872,285


Capital and reserves
  

Called up share capital 
  
30,000
30,000

Profit and loss account
  
1,986,759
1,842,285

  
2,016,759
1,872,285


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 profit and loss account 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 19 July 2024.


J English
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

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

1.


GENERAL INFORMATION

Tailored Travel Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. 
The address of the registered office is 8th Floor Becket House, 36 Old Jewry, London EC2R 8DD. 
The trading address of the company is 12 Jamaica Road, London, SE1 2RN.
The prinicipal activity of the company continued to be that of a tour 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 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

GOING CONCERN

The current and future financial position of the Company, its cash flows and liquidity position have been reviewed by the directors and it is considered that the Company is well placed to take advantage of the renewed optimism in the travel industry following the lifting of travel restrictions.
The directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

REVENUE

Revenue is recognised by the company in respect of tours and other services supplied during the year on a departure date basis net of TOMS VAT.

 
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.

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.

 
2.5

INTEREST INCOME

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

Page 2

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

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.

 
2.7

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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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.

 
2.8

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

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

2.ACCOUNTING POLICIES (CONTINUED)


2.8
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:

Fixtures and fittings
-
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.

 
2.9

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 4

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.14

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.

 
2.15

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 8 (2022 - 8).


4.


TANGIBLE FIXED ASSETS





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
121,870


Additions
1,232



At 31 December 2023

123,102



Depreciation


At 1 January 2023
110,587


Charge for the year on owned assets
3,051



At 31 December 2023

113,638



Net book value



At 31 December 2023
9,464



At 31 December 2022
11,283

Page 5

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

5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
2,000



At 31 December 2023
2,000





SUBSIDIARY UNDERTAKING


The following was a subsidiary undertaking of the Company:

Name

Principal activity

Class of shares

Holding

Tailored Travel (Transport) Limited
Transportation Services
Ordinary
100%

The aggregate of the share capital and reserves as at 31 December 2023 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:

Name
Profit/(Loss)

Tailored Travel (Transport) Limited
-

Page 6

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

6.


DEBTORS

2023
2022
£
£


Other debtors
196,909
299,363

Prepayments and accrued income
240,322
121,658

Deferred taxation
5,234
5,234

442,465
426,255



7.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
2,329,020
2,108,057

2,329,020
2,108,057



8.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
2,000
34,880

Corporation tax
90,912
206,054

Other taxation and social security
33,720
5,786

Other creditors
35,625
2,871

Accruals and deferred income
603,933
425,719

766,190
675,310



9.


Contingent liabilities and regulatory requirements

The Company currently holds an Air Travel Organisers' License ('ATOL') issued by the Civil Aviation
Authority ('CAA').
In order to offer air inclusive package holidays, the company requires the annual renewal by the CAA of its ATOL license. The CAA grants this license based on meeting agreed financial criteria and renews this in September (effective 1st October) each year. The company has complied with these requirements in previous years. The directors are expecting the ATOL licence to be renewed in September 2024.
As at 31 December 2023, there were no contingent liabilities in place in the normal course of business.

Page 7

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

10.


PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £21,857 (2022: £59,694). Contributions totalling £1,162 (2022: £1,328) were payable to the fund at the balance sheet date


11.


RELATED PARTY TRANSACTIONS

At the year end £111,137 was owed to the company (2022: £181,169) from the directors.


12.


CONTROLLING PARTY

The company is jointly controlled by J English and M English by virtue of their shareholding.


13.


AUDITORS' INFORMATION

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

The audit report was signed on 19 July 2024 by Ian Palmer FCA (Senior statutory auditor) on behalf of Xeinadin Audit Limited.

 
Page 8