Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30Tour operator activitiestrue2023-05-01false96trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05404342 2023-05-01 2024-04-30 05404342 c:EntitiesControlledByKeyManagementPersonnel 2023-05-01 2024-04-30 05404342 2022-05-01 2023-04-30 05404342 2024-04-30 05404342 c:EntitiesControlledByKeyManagementPersonnel 2024-04-30 05404342 2023-04-30 05404342 c:EntitiesControlledByKeyManagementPersonnel 2023-04-30 05404342 1 2023-05-01 2024-04-30 05404342 d:Director1 2023-05-01 2024-04-30 05404342 d:Director2 2023-05-01 2024-04-30 05404342 d:RegisteredOffice 2023-05-01 2024-04-30 05404342 c:MotorVehicles 2023-05-01 2024-04-30 05404342 c:FurnitureFittings 2023-05-01 2024-04-30 05404342 c:FurnitureFittings 2024-04-30 05404342 c:FurnitureFittings 2023-04-30 05404342 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05404342 c:CurrentFinancialInstruments 2024-04-30 05404342 c:CurrentFinancialInstruments 2023-04-30 05404342 c:Non-currentFinancialInstruments 2024-04-30 05404342 c:Non-currentFinancialInstruments 2023-04-30 05404342 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-30 05404342 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 05404342 c:Non-currentFinancialInstruments c:AfterOneYear 2024-04-30 05404342 c:Non-currentFinancialInstruments c:AfterOneYear 2023-04-30 05404342 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-04-30 05404342 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-04-30 05404342 c:ShareCapital 2024-04-30 05404342 c:ShareCapital 2023-04-30 05404342 c:RetainedEarningsAccumulatedLosses 2024-04-30 05404342 c:RetainedEarningsAccumulatedLosses 2023-04-30 05404342 c:AcceleratedTaxDepreciationDeferredTax 2024-04-30 05404342 c:AcceleratedTaxDepreciationDeferredTax 2023-04-30 05404342 c:TaxLossesCarry-forwardsDeferredTax 2024-04-30 05404342 c:TaxLossesCarry-forwardsDeferredTax 2023-04-30 05404342 d:FRS102 2023-05-01 2024-04-30 05404342 d:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05404342 d:FullAccounts 2023-05-01 2024-04-30 05404342 d:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05404342 2 2023-05-01 2024-04-30 05404342 4 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 05404342










THE CITY BREAK COMPANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
THE CITY BREAK COMPANY LIMITED
 
 
COMPANY INFORMATION


Directors
B D Hornby 
D S Hornby 




Registered number
05404342



Registered office
8th Floor Becket House
36 Old Jewry

London

EC2R 8DD




Accountants
Xeinadin London Limited

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD





 
THE CITY BREAK COMPANY LIMITED
 

CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 11


 
THE CITY BREAK COMPANY LIMITED
REGISTERED NUMBER: 05404342

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,004
3,362

  
9,004
3,362

Current assets
  

Debtors: amounts falling due within one year
 5 
659,164
360,412

Cash at bank and in hand
 6 
523,732
209,512

  
1,182,896
569,924

Creditors: amounts falling due within one year
 7 
(1,066,572)
(448,787)

Net current assets
  
 
 
116,324
 
 
121,137

Total assets less current liabilities
  
125,328
124,499

Creditors: amounts falling due after more than one year
 8 
(191,828)
(283,515)

Provisions for liabilities
  

Deferred tax
  
(5,570)
-

  
 
 
(5,570)
 
 
-

Net liabilities
  
(72,070)
(159,016)


Capital and reserves
  

Called up share capital 
  
30,100
15,100

Profit and loss account
  
(102,170)
(174,116)

  
(72,070)
(159,016)


Page 1

 
THE CITY BREAK COMPANY LIMITED
REGISTERED NUMBER: 05404342
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 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 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: 




D S Hornby
Director
Date: 24 July 2024

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

Page 2

 
THE CITY BREAK COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The City Break Company Limited is a private company limited by shares incorporated in England and Wales, United Kingdom.
The address of the registered company is given on the Company Information page of these financial statements.
The principle activity of the company continued to be that of specialist 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 following principal accounting policies have been applied:

 
2.2

Going concern

The Company has paid special attention to the war between Russia and Ukraine and the associated impact on the business. This includes:
The impact of government-imposed travel restrictions on our continued operation and those of our suppliers due to the war.
The economic and social impact on our existing and potential customer base.
The current and future financial position of the Company, its cash flows and liquidity position have been reviewed by the directors. These have been prepared with a very prudent view on the likely gradual recovery in each of the Company's operating locations and have been stress tested to ensure that cash flows and liquidity are sufficiently robust to allow the Company to continue to trade during this period.
In managing its cash flows, the Company has taken actions to manage short and longer term liquidity including reducing the Company’s overhead base.
Although it is not possible to reliably estimate the length of severity of the war and its long term impact, at the date of approving the financial statements, the directors are confident that the existing funding facilities will provide sufficient headroom to meet the forecast cash requirements during the twelve months from the date of approval of the financial statements having considered any additional requirements that would be contingent on a downturn in activity over the same period.
The directors consider it appropriate to prepare the financial statements on a going concern basis.

Page 3

 
THE CITY BREAK COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Revenue

Revenue represents income received or receivable, for tours departing during the financial year, recognised on a departure date basis.

  
2.5

Advance payments and receipts

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

 
2.6

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.

 
2.7

Interest income

Interest income is recognised in profit or loss 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

Borrowing costs

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

Page 4

 
THE CITY BREAK COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.13

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 5

 
THE CITY BREAK COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.13
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:

Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
20%
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.

 
2.14

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.

 
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.
Page 6

 
THE CITY BREAK COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.18
Financial instruments (continued)


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 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.



Page 7

 
THE CITY BREAK COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 6).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 May 2023
8,339


Additions
8,052


Disposals
(540)



At 30 April 2024

15,851



Depreciation


At 1 May 2023
4,977


Charge for the year on owned assets
2,251


Disposals
(381)



At 30 April 2024

6,847



Net book value



At 30 April 2024
9,004



At 30 April 2023
3,362

Page 8

 
THE CITY BREAK COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
13,278
2,568

Other debtors
180,719
166,412

Prepayments
465,167
191,432

659,164
360,412


Prepayments includes includes payments in advance to suppliers of £443,534 (2023: £175,178) which relate to bookings departing after the year end.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
523,732
209,512

523,732
209,512



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
25,050
25,050

Trade creditors
-
23,694

Corporation tax
13,710
24,976

Other taxation and social security
-
15,489

Other creditors
13,652
54,987

Accruals and deferred income
1,014,160
304,591

1,066,572
448,787


Accruals and deferred income in note 7 & 8 includes monies received in advance from customers of £1,001,041 (2023: £317,591).

Page 9

 
THE CITY BREAK COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
191,828
213,690

Other creditors
-
48,825

Accruals and deferred income
-
21,000

191,828
283,515



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
25,050
25,050

Amounts falling due 1-2 years

Other loans
191,828
213,690



216,878
238,740



10.


Deferred taxation




2024


£






Charged to profit or loss
(5,570)



At end of year
(5,570)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
1,313
-

Tax losses carried forward
(6,883)
-

(5,570)
-

Page 10

 
THE CITY BREAK COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

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 £4,337 (2023: £1,524) . Contributions totalling £902 (2023: £207) were payable to the fund at the reporting date and are included in creditors.


12.


Related party transactions

During the year, B Hornby was made advancements of £10,000 (2023: £Nil) and he made repayments of £1,907 (2023: £3,250) to the company. Interest of £489 (2023: £414) have been charged on this during the year.  At the year end the company was owed £27,833 (2023: £19,251).
During the year, D Hornby was made advancements of £30,000 (2023: £10,200) and he made repayments of £Nil (2023: £676) to the company. Interest of £2,040 (2023: 1,060) have been charged on this during the year.  At the year end the company was owed £104,093 (2023: £72,053).


13.


Post balance sheet events

As a result of the war between Russia and Ukraine, future revenues and profit are likely to be affected by the restrictions on travel and consumer confidence to travel. The directors cannot determine at present the extent to which the company is likely to be affected.
No adjustments have been made to these financial statements.


14.


Controlling party

The company was controlled throughout the period by Mr D Hornby.

 
Page 11