Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30truefalsefalse2023-05-01No description of principal activity54The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03403694 2023-05-01 2024-04-30 03403694 2022-05-01 2023-04-30 03403694 2024-04-30 03403694 2023-04-30 03403694 2022-05-01 03403694 c:Director3 2023-05-01 2024-04-30 03403694 d:FurnitureFittings 2023-05-01 2024-04-30 03403694 d:FurnitureFittings 2024-04-30 03403694 d:FurnitureFittings 2023-04-30 03403694 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03403694 d:ComputerEquipment 2023-05-01 2024-04-30 03403694 d:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 03403694 d:OtherPropertyPlantEquipment 2024-04-30 03403694 d:OtherPropertyPlantEquipment 2023-04-30 03403694 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03403694 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03403694 d:Goodwill 2023-05-01 2024-04-30 03403694 d:Goodwill 2024-04-30 03403694 d:Goodwill 2023-04-30 03403694 d:ComputerSoftware 2024-04-30 03403694 d:ComputerSoftware 2023-04-30 03403694 d:CurrentFinancialInstruments 2024-04-30 03403694 d:CurrentFinancialInstruments 2023-04-30 03403694 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 03403694 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 03403694 d:ShareCapital 2023-05-01 2024-04-30 03403694 d:ShareCapital 2024-04-30 03403694 d:ShareCapital 2022-05-01 2023-04-30 03403694 d:ShareCapital 2023-04-30 03403694 d:ShareCapital 2022-05-01 03403694 d:SharePremium 2023-05-01 2024-04-30 03403694 d:SharePremium 2024-04-30 03403694 d:SharePremium 2022-05-01 2023-04-30 03403694 d:SharePremium 2023-04-30 03403694 d:SharePremium 2022-05-01 03403694 d:CapitalRedemptionReserve 2023-05-01 2024-04-30 03403694 d:CapitalRedemptionReserve 2024-04-30 03403694 d:CapitalRedemptionReserve 2022-05-01 2023-04-30 03403694 d:CapitalRedemptionReserve 2023-04-30 03403694 d:CapitalRedemptionReserve 2022-05-01 03403694 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 03403694 d:RetainedEarningsAccumulatedLosses 2024-04-30 03403694 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 03403694 d:RetainedEarningsAccumulatedLosses 2023-04-30 03403694 d:RetainedEarningsAccumulatedLosses 2022-05-01 03403694 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 03403694 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 03403694 c:FRS102 2023-05-01 2024-04-30 03403694 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03403694 c:FullAccounts 2023-05-01 2024-04-30 03403694 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03403694 d:Goodwill d:OwnedIntangibleAssets 2023-05-01 2024-04-30 03403694 d:ComputerSoftware d:OwnedIntangibleAssets 2023-05-01 2024-04-30 03403694 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 03403694









FRONTIER TRAVEL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
FRONTIER TRAVEL LIMITED
REGISTERED NUMBER: 03403694

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
8,555
17,230

Tangible assets
 5 
581
872

  
9,136
18,102

Current assets
  

Debtors: amounts falling due within one year
 6 
355,252
303,277

Cash at bank and in hand
 7 
1,283,457
1,093,433

  
1,638,709
1,396,710

Creditors: amounts falling due within one year
 8 
(1,115,044)
(951,660)

Net current assets
  
 
 
523,665
 
 
445,050

Total assets less current liabilities
  
532,801
463,152

Provisions for liabilities
  

Deferred tax
 9 
(1,315)
(2,287)

  
 
 
(1,315)
 
 
(2,287)

Net assets
  
531,486
460,865


Capital and reserves
  

Called up share capital 
  
44,250
44,250

Share premium account
  
4,500
4,500

Capital redemption reserve
  
8,750
8,750

Profit and loss account
  
473,986
403,365

  
531,486
460,865


Page 1

 
FRONTIER TRAVEL LIMITED
REGISTERED NUMBER: 03403694
    
BALANCE SHEET (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: 




J Timms
Director

Date: 30 July 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
FRONTIER TRAVEL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


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

£
£
£
£
£


At 1 May 2022
44,250
4,500
-
350,564
399,314


Comprehensive income for the year

Profit for the year

-
-
-
122,801
122,801


Other comprehensive income for the year
-
-
-
-
-


Total comprehensive income for the year
-
-
-
122,801
122,801


Contributions by and distributions to owners

Purchase of own shares
-
-
8,750
(70,000)
(61,250)


Total transactions with owners
-
-
8,750
(70,000)
(61,250)



At 1 May 2023
44,250
4,500
8,750
403,365
460,865


Comprehensive income for the year

Profit for the year

-
-
-
101,596
101,596


Other comprehensive income for the year
-
-
-
-
-


Total comprehensive income for the year
-
-
-
101,596
101,596


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(30,975)
(30,975)


Total transactions with owners
-
-
-
(30,975)
(30,975)


At 30 April 2024
44,250
4,500
8,750
473,986
531,486


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
FRONTIER TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Frontier Travel Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is 43 Pine Ridge, Tonbridge, England, TN10 3LL. 
The principal activity of the company in the year under review was that of a specialist independent tour operator. 
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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 except when deferred in other comprehensive income as qualifying cash flow hedges.

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 'other operating income'.

Page 4

 
FRONTIER TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue comprises the company's revenue in respect of independent tour packages, including flights, hotels bookings and transfers, exclusive of Value Added Tax and trade discounts. Turnover is recognised on the date that the service is provided to the customer.

 
2.4

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.

 
2.5

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.

Page 5

 
FRONTIER TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other 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.

 
2.7

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.

Depreciation is provided on the following basis:

Office and computer equipment
-
20%
Websites
-
20%
Computer software and licences
-
20%

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.

 
2.8

Debtors

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

 
2.9

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. 

Page 6

 
FRONTIER TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Creditors

Short-term creditors are measured at the transaction price.

 
2.11

Financial instruments

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.

 
2.12

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 directors, during the year was 5 (2023 - 4).

Page 7

 
FRONTIER TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Intangible assets




Websites
Goodwill
Total

£
£
£



Cost


At 1 May 2023
38,375
110,000
148,375



At 30 April 2024

38,375
110,000
148,375



Amortisation


At 1 May 2023
26,145
105,000
131,145


Charge for the year on owned assets
6,675
2,000
8,675



At 30 April 2024

32,820
107,000
139,820



Net book value



At 30 April 2024
5,555
3,000
8,555



At 30 April 2023
12,230
5,000
17,230



Page 8

 
FRONTIER TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Office and computer equipement
Computer software and licences
Total

£
£
£



Cost or valuation


At 1 May 2023
10,385
47,280
57,665



At 30 April 2024

10,385
47,280
57,665



Depreciation


At 1 May 2023
9,513
47,280
56,793


Charge for the year on owned assets
291
-
291



At 30 April 2024

9,804
47,280
57,084



Net book value



At 30 April 2024
581
-
581



At 30 April 2023
872
-
872


6.


Debtors

2024
2023
£
£


Other debtors
14,959
15,890

Prepayments and accrued income
340,293
287,387

355,252
303,277



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,283,457
1,093,433

1,283,457
1,093,433


Page 9

 
FRONTIER TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
8,643
5,218

Corporation tax
34,341
31,465

Other taxation and social security
2,198
4,245

Accruals and deferred income
1,069,862
910,732

1,115,044
951,660



9.


Deferred taxation




2024


£






At beginning of year
(2,287)


Charged to profit or loss
972



At end of year
(1,315)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,315)
(2,287)

(1,315)
(2,287)


10.


Contingent liabilities

In consideration of being admitted as a member to ABTA Travel Association, the company has provided a Bond to ABTA. Santander UK plc holds a charge over £89,794 (2023 - £85,857) of cash deposits in relation to this bond.


11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contribtions payable by the company to the fund and amounted to £7,529 (2023 - £6,968). No contributions were outstanding at either balance sheet date. 

 
Page 10