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Registered number: 08967674


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

 
BERKELEY TRAVEL LIMITED
 
 
COMPANY INFORMATION


Directors
S Binke 
A Bezhenar 




Registered number
08967674



Registered office
8th Floor
Becket House

36 Old Jewry

London

EC2R 8DD




Trading address
3-4 Waterloo Gardens
Milner Square

London

N1 1TY






Independent auditors
Xeinadin Audit Limited
Chartered Accountants & Statutory Auditor

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD





 
BERKELEY TRAVEL LIMITED
 

CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 10

 
BERKELEY TRAVEL LIMITED
REGISTERED NUMBER: 08967674

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
21,003
17,980

  
21,003
17,980

Non current assets
  

Debtors due after more than 1 year
  
117,702
-

  
117,702
-

Current assets
  

Debtors: amounts falling due within one year
 6 
2,147,055
1,586,019

Bank and cash balances
  
426,503
1,099,121

  
2,573,558
2,685,140

Creditors: amounts falling due within one year
 7 
(2,510,438)
(2,576,723)

Net current assets
  
 
 
63,120
 
 
108,417

Total assets less current liabilities
  
84,123
126,397

Creditors: amounts falling due after more than one year
 8 
(15,834)
(24,150)

  

Net assets
  
185,991
102,247


Capital and reserves
  

Called up share capital 
  
30,000
30,000

Profit and loss account
  
155,991
72,247

  
185,991
102,247


Page 1

 
BERKELEY TRAVEL LIMITED
REGISTERED NUMBER: 08967674
    
STATEMENT OF FINANCIAL POSITION (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 by: 




A Bezhenar
Director

Date: 24 June 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

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

1.


General information

Berkeley Travel Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office and trading address is given on the Company information page of these financial statements.

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 judgement in applying the Company's accounting policies (see note ).

The principal activity of the Company continued to be that of a tour operator.

 
2.2

Revenue

Revenue represents amounts receivable from the sale of tours and other services supplied to customers net of VAT and arising primarily in the UK. Revenue relating to tours are taken to the profit and loss account on a departure date basis. The related costs of distribution and of providing the holidays and flights are charged to the profit and loss account on the same basis.

 
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.

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 and reducing balance method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
3 years straight line
Office equipment
-
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.

Page 3

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

2.Accounting policies (continued)

  
2.4

Leasing and hire purchase

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 aquired by hire purchase are depreciated over thier 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 the Profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

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.

 
2.6

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.

 
2.7

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

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.

Exchange gains and losses are recognised in the Profit and loss account.

Page 4

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

2.Accounting policies (continued)

  
2.9

Advance receipts and payments

All revenue received relating to bookings that depart after the balance sheet date is treated as advance receipts and is seperately disclosed under accruals and deferred income. 
Payments made to suppliers relating to bookings that depart after the balance sheet date are treated as advance payments and are seperately disclosed under prepayments and accrued income.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Interest income

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

Page 5

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

2.Accounting policies (continued)

 
2.16

Borrowing costs

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

 
2.17

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 reporting date in the countries where the Company operates and generates income.




3.


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 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 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 directors are of the view that there are no critical judgements that have had a significant effect on that amounts recognised in the financial statements.


4.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 8).

Page 6

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

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost 


At 1 January 2023
15,733
83,576
99,309


Additions
-
10,025
10,025



At 31 December 2023

15,733
93,601
109,334



Depreciation


At 1 January 2023
15,733
65,596
81,329


Charge for the year on owned assets
-
7,002
7,002



At 31 December 2023

15,733
72,598
88,331



Net book value



At 31 December 2023
-
21,003
21,003



At 31 December 2022
-
17,980
17,980

Page 7

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

6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
117,702
-

117,702
-


2023
2022
£
£

Due within one year

Trade debtors
451,850
661,453

Other debtors
176,474
404,375

Prepayments and accrued income
1,518,731
520,191

2,147,055
1,586,019


Other debtors includes amounts owed by the directors totalling £121,191 (2022: £239,797).
Prepayments and accrued income includes advance payments to suppliers for departures after the balance sheet date amounting to £1,507,830 (2022: £728,465).


7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
8,333
8,333

Trade creditors
214,494
327,643

Corporation tax
62,103
62,071

Other creditors
221,973
51,233

Accruals and deferred income
2,003,535
2,127,443

2,510,438
2,576,723


Accruals and deferred income includes advance receipts from customers for departures after the balance sheet date amounting to £2,003,535 (2022: £2,336,618).
At the year end the company had an outstanding BSP liability of £22,983 (2022:£130,622).

Page 8

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

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
15,834
24,150

15,834
24,150



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
8,333
8,333

Amounts falling due 1-2 years

Bank loans
8,333
8,333

Amounts falling due 2-5 years

Bank loans
7,501
15,817


24,167
32,483


In 2020, a government-backed Bounce Back loan of £50,000 was taken by the company. This is repayable in 4 years.


10.


Regulatory requirements and contingent liabilities

The Company currently holds an Air Travel Organisers' License (ATOL) issued by the Civil Aviation Authority (CAA), and is an accredited agent of the International Air Transport Association (IATA).
In order to offer air inclusive package holidays, the company requires the annual renewal by the CAA of its ATOL licence. The CAA grants this license on the basis of 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 see no reason why the ATOL license will not be renewed in September 2024 on substantially the same terms and conditions as currently agreed with the CAA.
The company also complies with the financial criteria requirements of IATA.
There are no other material contingent liabilities.

Page 9

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

11.


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 £4,232 (2022: £1,818). Contributions totalling £1,084 (2022: £622) were payable to the fund at the balance sheet date and are included in creditors.


12.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
8,931
8,931

Later than 1 year and not later than 5 years
26,125
31,335

35,056
40,266


13.


Post balance sheet events

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


14.


Auditors' information

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

The audit report was signed on 24 June 2024 by Yasin Khandwalla FCCA (Senior statutory auditor) on behalf of Xeinadin Audit Limited.

 
Page 10