Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-01falsespecialist group travel wholesaler2115falsetrue 05694594 2023-03-01 2024-02-29 05694594 c:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2023-03-01 2024-02-29 05694594 c:OtherUnconsolidatedStructuredEntitiesTotalIndividuallyImmaterialUnconsolidatedStructuredEntities 2023-03-01 2024-02-29 05694594 c:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-01 2024-02-29 05694594 c:EntitiesControlledByKeyManagementPersonnel 2023-03-01 2024-02-29 05694594 2022-03-01 2023-02-28 05694594 2024-02-29 05694594 c:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2024-02-29 05694594 c:OtherUnconsolidatedStructuredEntitiesTotalIndividuallyImmaterialUnconsolidatedStructuredEntities 2024-02-29 05694594 c:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-02-29 05694594 2023-02-28 05694594 c:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2023-02-28 05694594 c:OtherUnconsolidatedStructuredEntitiesTotalIndividuallyImmaterialUnconsolidatedStructuredEntities 2023-02-28 05694594 c:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-28 05694594 2022-03-01 05694594 1 2023-03-01 2024-02-29 05694594 d:CompanySecretary1 2023-03-01 2024-02-29 05694594 d:Director1 2023-03-01 2024-02-29 05694594 d:Director2 2023-03-01 2024-02-29 05694594 d:Director3 2023-03-01 2024-02-29 05694594 d:Director4 2023-03-01 2024-02-29 05694594 d:RegisteredOffice 2023-03-01 2024-02-29 05694594 c:Buildings 2023-03-01 2024-02-29 05694594 c:Buildings 2024-02-29 05694594 c:Buildings 2023-02-28 05694594 c:Buildings c:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05694594 c:FurnitureFittings 2023-03-01 2024-02-29 05694594 c:FurnitureFittings 2024-02-29 05694594 c:FurnitureFittings 2023-02-28 05694594 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05694594 c:ComputerEquipment 2023-03-01 2024-02-29 05694594 c:ComputerEquipment 2024-02-29 05694594 c:ComputerEquipment 2023-02-28 05694594 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05694594 c:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05694594 c:CurrentFinancialInstruments 2024-02-29 05694594 c:CurrentFinancialInstruments 2023-02-28 05694594 c:Non-currentFinancialInstruments 2024-02-29 05694594 c:Non-currentFinancialInstruments 2023-02-28 05694594 c:CurrentFinancialInstruments c:WithinOneYear 2024-02-29 05694594 c:CurrentFinancialInstruments c:WithinOneYear 2023-02-28 05694594 c:Non-currentFinancialInstruments c:AfterOneYear 2024-02-29 05694594 c:Non-currentFinancialInstruments c:AfterOneYear 2023-02-28 05694594 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-02-29 05694594 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-02-28 05694594 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-02-29 05694594 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-02-28 05694594 c:ShareCapital 2024-02-29 05694594 c:ShareCapital 2023-02-28 05694594 c:SharePremium 2024-02-29 05694594 c:SharePremium 2023-02-28 05694594 c:RetainedEarningsAccumulatedLosses 2024-02-29 05694594 c:RetainedEarningsAccumulatedLosses 2023-02-28 05694594 d:OrdinaryShareClass1 2023-03-01 2024-02-29 05694594 d:OrdinaryShareClass1 2024-02-29 05694594 d:OrdinaryShareClass1 2023-02-28 05694594 d:FRS102 2023-03-01 2024-02-29 05694594 d:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05694594 d:FullAccounts 2023-03-01 2024-02-29 05694594 d:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05694594 c:Subsidiary1 2023-03-01 2024-02-29 05694594 c:Subsidiary1 1 2023-03-01 2024-02-29 05694594 c:AcceleratedTaxDepreciationDeferredTax 2024-02-29 05694594 c:AcceleratedTaxDepreciationDeferredTax 2023-02-28 05694594 c:TaxLossesCarry-forwardsDeferredTax 2024-02-29 05694594 c:TaxLossesCarry-forwardsDeferredTax 2023-02-28 05694594 2 2023-03-01 2024-02-29 05694594 6 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05694594










THE GROUP COMPANY (UK) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
THE GROUP COMPANY (UK) LIMITED
 
 
COMPANY INFORMATION


Directors
H Bilton 
N A Stewart 
T B Barker 
M J Ruiz Solera 




Company secretary
A Collihole



Registered number
05694594



Registered office
Bridge House
1a Low Ousegate

York

YO1 9QU




Accountants
Xeinadin London Limited

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD





 
THE GROUP COMPANY (UK) LIMITED
 

CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 12


 
THE GROUP COMPANY (UK) LIMITED
REGISTERED NUMBER: 05694594

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,069,239
27,243

Investments
 5 
11,538
11,538

  
1,080,777
38,781

Current assets
  

Debtors: amounts falling due within one year
 6 
1,600,207
963,336

Cash at bank and in hand
 7 
1,191,499
1,625,034

  
2,791,706
2,588,370

Creditors: amounts falling due within one year
 8 
(2,260,139)
(1,482,114)

Net current assets
  
 
 
531,567
 
 
1,106,256

Total assets less current liabilities
  
1,612,344
1,145,037

Creditors: amounts falling due after more than one year
 9 
(166,667)
(266,667)

Provisions for liabilities
  

Deferred tax
 11 
(5,272)
(5,212)

  
 
 
(5,272)
 
 
(5,212)

Net assets
  
1,440,405
873,158


Capital and reserves
  

Called up share capital 
 12 
220
220

Share premium account
  
74,333
74,333

Profit and loss account
  
1,365,852
798,605

  
1,440,405
873,158


Page 1

 
THE GROUP COMPANY (UK) LIMITED
REGISTERED NUMBER: 05694594
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 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 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 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 by: 

H Bilton
Director

Date: 10 July 2024


The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
THE GROUP COMPANY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The Group Company (UK) Limited is a private company limited by shares registered in England and Wales. The address of the registered office is given in the Company information of these financial statements.
The principal activity of the Company continued to be that of a specialist group travel wholesaler.

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 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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Turnover represents revenue from the sale of hotel accommodation and other travel related services. Turnover is recognised on a departure date basis. Cancellation income is recognised at the date of cancellation.

 
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

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.

 
2.6

Interest income

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

Page 3

 
THE GROUP COMPANY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Borrowing costs

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

 
2.9

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.

 
2.10

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.

Page 4

 
THE GROUP COMPANY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

  
2.11

Advance bookings

All amounts received from customers relating to holidays with departures after the year end are disclosed under accruals and deferred income.
All amounts paid to suppliers relating to holidays with departures after the year end are disclosed under prepayments and accrued income.

 
2.12

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.

The estimated useful lives range as follows:

Freehold property
-
50
years straight-line method
Fixtures and fittings
-
10
years straight-line method
Computer equipment
-
3
years straight-line method

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.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.14

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.

 
2.15

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.

Page 5

 
THE GROUP COMPANY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.16

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.

 
2.17

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.

 
2.18

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 Statement of financial position when the Company 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 Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

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
Page 6

 
THE GROUP COMPANY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.18
Financial instruments (continued)

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

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.

 
2.19

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 the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Staff numbers
21
15

Page 7

 
THE GROUP COMPANY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Freehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost


At 1 March 2023
-
35,931
116,040
151,971


Additions
1,046,656
-
6,491
1,053,147



At 29 February 2024

1,046,656
35,931
122,531
1,205,118



Depreciation


At 1 March 2023
-
23,328
101,400
124,728


Charge for the year on owned assets
455
2,580
8,116
11,151



At 29 February 2024

455
25,908
109,516
135,879



Net book value



At 29 February 2024
1,046,201
10,023
13,015
1,069,239



At 28 February 2023
-
12,603
14,640
27,243


5.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 March 2023
11,538



At 29 February 2024
11,538





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

The Group Company (USA), Inc.
Ordinary
100%

Page 8

 
THE GROUP COMPANY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
504,905
399,001

Other debtors
649,193
148,676

Prepayments and accrued income
446,109
415,659

1,600,207
963,336


Included within prepayments and accrued income are advance payments of £413,610 (2023: £392,785) made to suppliers for bookings departing after the year end.


7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
1,191,499
1,625,034

1,191,499
1,625,034



8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
100,000
100,000

Trade creditors
290,653
170,616

Amounts owed to group undertakings
11,538
11,538

Corporation tax
302,448
165,327

Other taxation and social security
80,459
53,492

Other creditors
172,199
81,351

Accruals and deferred income
1,302,842
899,790

2,260,139
1,482,114


Included within accruals and deferred income are advance receipts of £1,264,125 (2023: £806,244) for bookings departing after the year end.

Page 9

 
THE GROUP COMPANY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
166,667
266,667

166,667
266,667



10.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
100,000
100,000


100,000
100,000

Amounts falling due 1-2 years

Bank loans
100,000
100,000


100,000
100,000

Amounts falling due 2-5 years

Bank loans
66,667
166,667


66,667
166,667


266,667
366,667


During 2021, a Coronavirus Business Interruption Loan (CBIL) was taken with Lloyds Bank PLC by the Company amounting to £500,000. This is repayable in 5 years.

Page 10

 
THE GROUP COMPANY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.


Deferred taxation






2024
2023


£

£






At beginning of year
(5,212)
(5,212)


Charged to profit or loss
(60)
-



At end of year
(5,272)
(5,212)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Fixed asset timing differences
(5,760)
(5,212)

Short term timing differences
488
-

(5,272)
(5,212)


12.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



220 (2023 - 220) Ordinary shares of £1.00 each
220
220



13.


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 £23,343 (2023: £14,305). Contributions totalling £3,706 (2023: £2,872) we3re payable to the fund at the balance sheet date.

Page 11

 
THE GROUP COMPANY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

14.


Related party transactions

At the year end, the company owed £11,538 (2023: £11,538) to The Group Company (USA), Inc., a wholly owned subsidiary.
At the year end, the company was owed £552,042 (2023: £21,955) by the director H Bilton by virtue of a director's loan account. This balance is expected to be repaid within 9 months post year end.
At the year end, the company was owed £48,701 (2023: £61,755) by the director N Stewart by virtue of a director's loan account.  This balance is expected to be repaid within 9 months post year end.
At the year end, the company was owed £38,277 (2023: £36,019) by the director T Barker by virtue of a director's loan account.  This balance is expected to be repaid within 9 months post year end.

At the year end, the company was owed £493 (2023: £1,802) by the director J Solera by virtue of a director's loan account.  This balance is expected to be repaid within 9 months post year end.


15.


Post balance sheet events

The directors have concluded that no other material events have occurred since the date of approval of these financial statements that would affect the financial statements of the Company.


16.


Controlling party

The controlling party during the year was H Bilton by virtue of her shareholding.

 
Page 12