Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.102023-01-01false12truetruefalse 03840986 2023-01-01 2023-12-31 03840986 2022-01-01 2022-12-31 03840986 2023-12-31 03840986 2022-12-31 03840986 2022-01-01 03840986 c:Director1 2023-01-01 2023-12-31 03840986 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 03840986 d:Buildings d:ShortLeaseholdAssets 2023-12-31 03840986 d:Buildings d:ShortLeaseholdAssets 2022-12-31 03840986 d:OfficeEquipment 2023-01-01 2023-12-31 03840986 d:OfficeEquipment 2023-12-31 03840986 d:OfficeEquipment 2022-12-31 03840986 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03840986 d:ComputerEquipment 2023-01-01 2023-12-31 03840986 d:ComputerEquipment 2023-12-31 03840986 d:ComputerEquipment 2022-12-31 03840986 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03840986 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03840986 d:Goodwill 2023-01-01 2023-12-31 03840986 d:Goodwill 2023-12-31 03840986 d:Goodwill 2022-12-31 03840986 d:ComputerSoftware 2023-01-01 2023-12-31 03840986 d:ComputerSoftware 2023-12-31 03840986 d:ComputerSoftware 2022-12-31 03840986 d:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 03840986 d:CurrentFinancialInstruments 2023-12-31 03840986 d:CurrentFinancialInstruments 2022-12-31 03840986 d:Non-currentFinancialInstruments 2023-12-31 03840986 d:Non-currentFinancialInstruments 2022-12-31 03840986 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03840986 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03840986 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03840986 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03840986 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 03840986 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 03840986 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 03840986 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 03840986 d:ShareCapital 2023-01-01 2023-12-31 03840986 d:ShareCapital 2023-12-31 03840986 d:ShareCapital 2022-01-01 2022-12-31 03840986 d:ShareCapital 2022-12-31 03840986 d:ShareCapital 2022-01-01 03840986 d:SharePremium 2023-01-01 2023-12-31 03840986 d:SharePremium 2023-12-31 03840986 d:SharePremium 2022-01-01 2022-12-31 03840986 d:SharePremium 2022-12-31 03840986 d:SharePremium 2022-01-01 03840986 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 03840986 d:RetainedEarningsAccumulatedLosses 2023-12-31 03840986 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 03840986 d:RetainedEarningsAccumulatedLosses 2022-12-31 03840986 d:RetainedEarningsAccumulatedLosses 2022-01-01 03840986 c:OrdinaryShareClass2 2023-01-01 2023-12-31 03840986 c:OrdinaryShareClass2 2023-12-31 03840986 c:OrdinaryShareClass2 2022-12-31 03840986 c:FRS102 2023-01-01 2023-12-31 03840986 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03840986 c:FullAccounts 2023-01-01 2023-12-31 03840986 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03840986 d:WithinOneYear 2023-12-31 03840986 d:WithinOneYear 2022-12-31 03840986 d:BetweenOneFiveYears 2023-12-31 03840986 d:BetweenOneFiveYears 2022-12-31 03840986 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 03840986 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 03840986 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 03840986 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 03840986 d:RetirementBenefitObligationsDeferredTax 2023-12-31 03840986 d:RetirementBenefitObligationsDeferredTax 2022-12-31 03840986 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 03840986 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 03840986 2 2023-01-01 2023-12-31 03840986 6 2023-01-01 2023-12-31 03840986 d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 03840986 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 03840986 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 03840986 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03840986










Pura Aventura Limited








Unaudited

Director's report and financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
Pura Aventura Limited
 

 
Director's report
For the year ended 31 December 2023

The director presents his report and the financial statements for the year ended 31 December 2023.

Principal activity

The principal activity of the company continued to be that of tour operator activities.


Director

The director who served during the year was:

T Power 

A letter from our C.E.O.
2023 was the year for us to invest in growth beyond the shock-waves of the Covid pandemic. In large part, the year played out as expected, choppy waters navigated by delivering great travel experiences to loyal customers whilst controlling costs and a weather eye on the future with investment in teams, process and systems throughout the period.
There was one lingering post-pandemic impact on trading for Pura Aventura in that Asia was fully opened to tourist arrivals which led to a degree of demand displacement from Latin America to Asia. We expect this see-sawing effect to have played out by 2024. Inflation and cost of living pressures increased over the course of 2023, typically having a greater impact on younger & family customers than our mainly older market. Saying that, while our core market may be more protected from interest rate movements, they remain vulnerable to general market sentiment which was, over the course of the year, prone to buffeting by economic and political uncertainty in the UK.
Client satisfaction hit at an all-time high resulting in our gaining the prestigious 10-Year Feefo Service Award. Our product portfolio expanded materially by improving our offer within existing destinations rather than opening up new ones. Specialism remains our aim. Leadership on issues of sustainability remains core to our work and reputation within the travel industry. The Travel by B Corp collective grew significantly over the year, notably bringing members and press together to challenge traditional thinking around the promotion of sustainability within travel, this learning started to be implemented in our brand positioning and customer communications. While there were HR challenges, as can expected in any period, the core team is stronger than ever. There are no known risk/liability events to report for the year. The three year validity of our original B Corp certification expired late in the year, we successfully recertified with an score improved by more than 20% versus 2020. We continue to align the positive impact business values of the B Corp movement with strategic commercial objectives and commitments.
 Looking forward to 2024, refinements within Pura Aventura's management team made late in Q3 started to bear fruit late in Q4 of 2023 but will truly impact business performance over the course of 2024. We intend to move our year end to better align our financial year with the seasonality of our destinations. Our outlook is highly positive for the year to come as we look forward to a sustained period of opportunity.

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 


................................................
T Power
Director
Date: 8 August 2024

Page 1

 
Pura Aventura Limited
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Pura Aventura Limited for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pura Aventura Limited for the year ended 31 December 2023 which comprise  the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Pura Aventura Limited in accordance with the terms of our engagement letter dated 5 March 2024Our work has been undertaken solely to prepare for your approval the financial statements of Pura Aventura Limited and state those matters that we have agreed to state to the director of Pura Aventura Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pura Aventura Limited and its director for our work or for this report. 

It is your duty to ensure that Pura Aventura Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pura Aventura Limited. You consider that Pura Aventura Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Pura Aventura Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Plus X Innovation Hub
Lewes Road
Brighton
East Sussex
BN2 4GL
9 August 2024
Page 2

 
Pura Aventura Limited
Registered number: 03840986

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
30,379
38,827

Tangible assets
 5 
10,320
13,433

Investments
 6 
33
33

  
40,732
52,293

Current assets
  

Debtors: amounts falling due within one year
 7 
1,212,875
997,425

Cash at bank and in hand
  
581,889
844,970

  
1,794,764
1,842,395

Creditors: amounts falling due within one year
 8 
(1,681,640)
(1,591,660)

Net current assets
  
 
 
113,124
 
 
250,735

Total assets less current liabilities
  
153,856
303,028

Creditors: amounts falling due after more than one year
 9 
(148,250)
(225,250)

  

Net assets
  
5,606
77,778


Capital and reserves
  

Called up share capital 
 12 
187,594
187,594

Share premium account
  
25,545
25,545

Profit and loss account
  
(207,533)
(135,361)

  
5,606
77,778


Page 3

 
Pura Aventura Limited
Registered number: 03840986

Balance sheet (continued)
As at 31 December 2023

The director considers 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 director acknowledges his 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 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 by: 



................................................
T Power
Director
Date: 8 August 2024

The notes on pages 6 to 15 form part of these financial statements.

Page 4

 
Pura Aventura Limited
 

Statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
187,594
25,545
(135,361)
77,778


Comprehensive income for the year

Loss for the year
-
-
(72,172)
(72,172)
Total comprehensive income for the year
-
-
(72,172)
(72,172)


At 31 December 2023
187,594
25,545
(207,533)
5,606



Statement of changes in equity
For the year ended 31 December 2022


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2022
187,594
25,545
(161,304)
51,835


Comprehensive income for the year

Profit for the year
-
-
25,943
25,943
Total comprehensive income for the year
-
-
25,943
25,943


At 31 December 2022
187,594
25,545
(135,361)
77,778


The notes on pages 6 to 15 form part of these financial statements.

Page 5

 
Pura Aventura Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

Pura Aventura Limited is a private company limited by shares incorporated in England and Wales. 
The company's registered office address is:
80 East Street
Brighton
East Sussex
BN1 1NF
The company's registration number is: 03840986

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.

The following principal accounting policies have been applied:

 
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

Going concern

The going concern basis is considered appropriate as the company is dependant upon the support of its director and shareholders. They have indicated that their support will continue for the foreseeable future. If this assumption proves to be inappropriate, then adjustments may have to be made to adjust the value of the assets to their recoverable amount, to provide for any further liabilities which might arise and reclassify fixed assets as current assets. 

Page 6

 
Pura Aventura Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

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.

 Amortisation is provided on the following bases:

Database
-
20%
to 33% straight line
Website
-
33%
straight line

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation.

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:

Leasehold improvements
-
20% straight line
Office equipment
-
20% to 50% straight line
Computer equipment
-
33% straight line

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 7

 
Pura Aventura Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and oher debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. 

 
2.10

Creditors

Short term creditors are measured at the transaction price.

 
2.11

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.

Page 8

 
Pura Aventura Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.12

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income. within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'admin expenses'.

 
2.13

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.

 
2.14

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.

 
2.15

Interest income

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

Page 9

 
Pura Aventura Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.16

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 balance sheet 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 balance sheet 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Directors and employees
12
10

Page 10

 
Pura Aventura Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

4.


Intangible assets




Website
Database
Total

£
£
£



Cost


At 1 January 2023
34,925
80,798
115,723


Additions
10,913
2,137
13,050


Disposals
(16,000)
-
(16,000)



At 31 December 2023

29,838
82,935
112,773



Amortisation


At 1 January 2023
30,326
46,570
76,896


Charge for the year on owned assets
5,878
15,620
21,498


On disposals
(16,000)
-
(16,000)



At 31 December 2023

20,204
62,190
82,394



Net book value



At 31 December 2023
9,634
20,745
30,379



At 31 December 2022
4,599
34,228
38,827



Page 11

 
Pura Aventura Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

5.


Tangible fixed assets





Leasehold improvements
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
8,891
24,105
11,561
44,557


Additions
-
-
3,577
3,577


Disposals
-
(2,057)
(4,740)
(6,797)



At 31 December 2023

8,891
22,048
10,398
41,337



Depreciation


At 1 January 2023
5,722
18,468
6,934
31,124


Charge for the year on owned assets
3,169
1,027
2,494
6,690


Disposals
-
(2,057)
(4,740)
(6,797)



At 31 December 2023

8,891
17,438
4,688
31,017



Net book value



At 31 December 2023
-
4,610
5,710
10,320



At 31 December 2022
3,169
5,637
4,627
13,433


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
33



At 31 December 2023
33




Page 12

 
Pura Aventura Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

7.


Debtors

2023
2022
£
£


Trade debtors
837,248
729,051

Amounts owed by group undertakings
53,266
56,066

Other debtors
258,121
181,258

Prepayments and accrued income
14,056
4,184

Deferred taxation
50,184
26,866

1,212,875
997,425



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loan
77,000
77,000

Other taxation and social security
13,738
14,260

Other creditors
23,055
14,298

Accruals and deferred income
1,567,847
1,486,102

1,681,640
1,591,660



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
148,250
225,250

148,250
225,250


Page 13

 
Pura Aventura 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
77,000
77,000


77,000
77,000

Amounts falling due 1-2 years

Bank loans
77,000
77,000


77,000
77,000

Amounts falling due 2-5 years

Bank loans
71,250
148,250


71,250
148,250


225,250
302,250



11.


Deferred taxation




2023


£






At beginning of year
26,866


Released to profit or loss
23,318



At end of year
50,184

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(6,181)
(11,842)

Tax losses carried forward
55,762
38,104

Short term timing differences
603
604

50,184
26,866

Page 14

 
Pura Aventura Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,875,940 (2022 - 1,875,940) Ordinary shares of £0.10 each
187,594
187,594



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 £13,421 (2022 - £9,132). Contributions totalling £2,409 (2022 - £2,415) were payable to the fund at the balance sheet date and are included in creditors.


14.


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
30,000
14,400

Later than 1 year and not later than 5 years
-
12,000

30,000
26,400


15.


Related party transactions

Pura Aventura Chile SpA
(Subsidiary Company)
During the year Pura Aventura Limited provided an unsecured interest loan to Pura Aventura Chile SpA for running costs. At the balance sheet date the amount owed to Pura Aventura Limited was £53,266 (2022: £56,066).
T Power 
(Director and Shareholder) 
During the year Pura Aventura Limited provided the director with an unsecured loan of £33,954. Interest was charged on this loan totalling £687 in the year. At the balance sheet date the amount owed to Pura Aventura was £33,954 (2022: £33,266). 


Page 15