Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31Tour operator activities2023-01-01false1211falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04080294 2023-01-01 2023-12-31 04080294 2022-01-01 2022-12-31 04080294 2023-12-31 04080294 2022-12-31 04080294 c:Director2 2023-01-01 2023-12-31 04080294 d:MotorVehicles 2023-01-01 2023-12-31 04080294 d:FurnitureFittings 2023-01-01 2023-12-31 04080294 d:FurnitureFittings 2023-12-31 04080294 d:FurnitureFittings 2022-12-31 04080294 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04080294 d:OfficeEquipment 2023-01-01 2023-12-31 04080294 d:OfficeEquipment 2023-12-31 04080294 d:OfficeEquipment 2022-12-31 04080294 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04080294 d:ComputerEquipment 2023-01-01 2023-12-31 04080294 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04080294 d:ComputerSoftware 2023-12-31 04080294 d:ComputerSoftware 2022-12-31 04080294 d:CurrentFinancialInstruments 2023-12-31 04080294 d:CurrentFinancialInstruments 2022-12-31 04080294 d:Non-currentFinancialInstruments 2023-01-01 2023-12-31 04080294 d:Non-currentFinancialInstruments 2023-12-31 04080294 d:Non-currentFinancialInstruments 2022-12-31 04080294 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04080294 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04080294 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04080294 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04080294 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 04080294 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 04080294 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 04080294 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 04080294 d:ShareCapital 2023-12-31 04080294 d:ShareCapital 2022-12-31 04080294 d:SharePremium 2023-12-31 04080294 d:SharePremium 2022-12-31 04080294 d:RetainedEarningsAccumulatedLosses 2023-12-31 04080294 d:RetainedEarningsAccumulatedLosses 2022-12-31 04080294 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04080294 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04080294 d:OtherDeferredTax 2023-12-31 04080294 d:OtherDeferredTax 2022-12-31 04080294 c:FRS102 2023-01-01 2023-12-31 04080294 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04080294 c:FullAccounts 2023-01-01 2023-12-31 04080294 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04080294 d:Subsidiary1 2023-01-01 2023-12-31 04080294 d:Subsidiary1 1 2023-01-01 2023-12-31 04080294 d:Subsidiary2 2023-01-01 2023-12-31 04080294 d:Subsidiary2 1 2023-01-01 2023-12-31 04080294 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 04080294 2 2023-01-01 2023-12-31 04080294 6 2023-01-01 2023-12-31 04080294 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 04080294










HARGREAVES & NURSE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HARGREAVES & NURSE LIMITED
REGISTERED NUMBER: 04080294

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
14,342
-

Tangible assets
 5 
5,429
7,749

Investments
 6 
200
200

  
19,971
7,949

Current assets
  

Debtors: amounts falling due within one year
 7 
222,739
220,503

Cash at bank and in hand
 8 
11,546
50,109

  
234,285
270,612

Creditors: amounts falling due within one year
 9 
(118,312)
(166,129)

Net current assets
  
 
 
115,973
 
 
104,483

Total assets less current liabilities
  
135,944
112,432

Creditors: amounts falling due after more than one year
 10 
(41,468)
(42,248)

Provisions for liabilities
  

Deferred tax
 12 
(948)
(1,467)

  
 
 
(948)
 
 
(1,467)

Net assets
  
93,528
68,717


Capital and reserves
  

Called up share capital 
  
146,600
144,800

Share premium account
  
2,400
2,400

Profit and loss account
  
(55,472)
(78,483)

  
93,528
68,717


Page 1

 
HARGREAVES & NURSE LIMITED
REGISTERED NUMBER: 04080294
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 on 11 July 2024.




H C Nurse
Director

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

Page 2

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Hargreaves & Nurse Limited is a private company limited by shares and is registered and incorporated in England and Wales.
The registered address of the office is: 8th Floor, Becket House, 36 Old Jewry, London, EC2R 8DD.

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.

 
2.2

Revenue

Turnover comprises of revenue recognised by the company in respect of package holidays and other services supplied to customers in the ordinary course of business. Revenue is taken to the profit and loss account based on the date of departure.

 
2.3

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

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

 
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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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 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 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 balance sheet date.

 
2.8

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.

 
2.9

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 4

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
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
-
25% reducing balance
Office equipment
-
Computer equipment
-
33.33% 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.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 5

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

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.

 
2.15

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.

 
2.16

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. 

  
2.17

Advance holiday receipts and expenditure

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 other creditors. Payments made to suppliers in
respect of these tours are included within other debtors.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 11).

Page 6

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Computer software

£



Cost


Additions
15,250



At 31 December 2023

15,250



Amortisation


Charge for the year on owned assets
908



At 31 December 2023

908



Net book value



At 31 December 2023
14,342



At 31 December 2022
-




5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
121,291
10,101
131,392



At 31 December 2023

121,291
10,101
131,392



Depreciation


At 1 January 2023
116,144
7,499
123,643


Charge for the year on owned assets
1,287
1,033
2,320



At 31 December 2023

117,431
8,532
125,963



Net book value



At 31 December 2023
3,860
1,569
5,429



At 31 December 2022
5,147
2,602
7,749

Page 7

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
200



At 31 December 2023
200





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Just Sardinia Limited
Elman Wall, Becket House, 36 Old Jewry, London, England, EC2R 8DD
A
100%
Just Skiing Limited
Elman Wall, Becket House, 36 Old Jewry, London, England, EC2R 8DD
A
100%


7.


Debtors

2023
2022
£
£


Other debtors
19,879
1,814

Prepayments and accrued income
202,860
218,689

222,739
220,503


Prepayments and accrued income includes advanced payments to suppliers for departures after the
balance sheet date amounting to £192,445 (2022: £212,002).


8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
11,546
50,109

11,546
50,109


Page 8

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,269
9,710

Corporation tax
6,875
5,620

Other taxation and social security
6,315
6,132

Other creditors
13,574
13,724

Accruals and deferred income
86,279
130,943

118,312
166,129


Included within "Accruals and deferred income" above are amounts relating to customer monies held on
account of holidays departing after the year end the total of which amount to £78,143 (2022: £118,843).


10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
31,468
32,248

Other creditors
10,000
10,000

41,468
42,248


Other creditors includes £10,000 that has been loaned to the company from the director and has been subordinated in accordance with the terms set out by the Civil Aviation Authority (CAA). This means the £10,000 cannot be repaid whilst the company holds and Air Travel Organisers license unless written consent has been received by the CAA.

Page 9

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,269
9,710


5,269
9,710

Amounts falling due 1-2 years

Bank loans
5,269
9,956


5,269
9,956

Amounts falling due 2-5 years

Bank loans
26,198
22,292


26,198
22,292


36,736
41,958


There is an outstanding fixed and floating charge securing the Natwest bank loan.


12.


Deferred taxation




2023


£






At beginning of year
(1,467)


Charged to profit or loss
519



At end of year
(948)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,052)
(1,553)

Other short term timing differences
104
86

(948)
(1,467)

Page 10

 
HARGREAVES & NURSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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 £5,079 (2022: £4,016). Contributions totalling to £1,041 (2022: £808) were payable to the fund at the balance sheet date and are included in creditors.


14.


Controlling party

The company was under control of the directors by virtue of their shareholding in the company.

 
Page 11