Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31Travel agent2023-06-01truefalse88falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03042161 2023-06-01 2024-05-31 03042161 2022-06-01 2023-05-31 03042161 2024-05-31 03042161 2023-05-31 03042161 2022-06-01 03042161 5 2023-06-01 2024-05-31 03042161 5 2022-06-01 2023-05-31 03042161 d:Director2 2023-06-01 2024-05-31 03042161 e:Buildings e:ShortLeaseholdAssets 2023-06-01 2024-05-31 03042161 e:Buildings e:ShortLeaseholdAssets 2024-05-31 03042161 e:Buildings e:ShortLeaseholdAssets 2023-05-31 03042161 e:PlantMachinery 2023-06-01 2024-05-31 03042161 e:PlantMachinery 2024-05-31 03042161 e:PlantMachinery 2023-05-31 03042161 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 03042161 e:ComputerEquipment 2023-06-01 2024-05-31 03042161 e:ComputerEquipment 2024-05-31 03042161 e:ComputerEquipment 2023-05-31 03042161 e:ComputerEquipment e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 03042161 e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 03042161 e:CurrentFinancialInstruments 2024-05-31 03042161 e:CurrentFinancialInstruments 2023-05-31 03042161 e:Non-currentFinancialInstruments 2024-05-31 03042161 e:Non-currentFinancialInstruments 2023-05-31 03042161 e:CurrentFinancialInstruments e:WithinOneYear 2024-05-31 03042161 e:CurrentFinancialInstruments e:WithinOneYear 2023-05-31 03042161 e:Non-currentFinancialInstruments e:AfterOneYear 2024-05-31 03042161 e:Non-currentFinancialInstruments e:AfterOneYear 2023-05-31 03042161 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2024-05-31 03042161 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-05-31 03042161 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-05-31 03042161 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-05-31 03042161 e:ShareCapital 2023-06-01 2024-05-31 03042161 e:ShareCapital 2024-05-31 03042161 e:ShareCapital 2022-06-01 2023-05-31 03042161 e:ShareCapital 2023-05-31 03042161 e:ShareCapital 2022-06-01 03042161 e:SharePremium 2023-06-01 2024-05-31 03042161 e:SharePremium 2024-05-31 03042161 e:SharePremium 2022-06-01 2023-05-31 03042161 e:SharePremium 2023-05-31 03042161 e:SharePremium 2022-06-01 03042161 e:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 03042161 e:RetainedEarningsAccumulatedLosses 2024-05-31 03042161 e:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 03042161 e:RetainedEarningsAccumulatedLosses 2023-05-31 03042161 e:RetainedEarningsAccumulatedLosses 2022-06-01 03042161 d:OrdinaryShareClass1 2023-06-01 2024-05-31 03042161 d:OrdinaryShareClass1 2024-05-31 03042161 d:OrdinaryShareClass1 2023-05-31 03042161 d:OrdinaryShareClass2 2023-06-01 2024-05-31 03042161 d:OrdinaryShareClass2 2024-05-31 03042161 d:OrdinaryShareClass2 2023-05-31 03042161 d:OrdinaryShareClass3 2023-06-01 2024-05-31 03042161 d:OrdinaryShareClass3 2024-05-31 03042161 d:OrdinaryShareClass3 2023-05-31 03042161 d:OrdinaryShareClass4 2023-06-01 2024-05-31 03042161 d:OrdinaryShareClass4 2024-05-31 03042161 d:OrdinaryShareClass4 2023-05-31 03042161 d:FRS102 2023-06-01 2024-05-31 03042161 d:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 03042161 d:FullAccounts 2023-06-01 2024-05-31 03042161 d:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03042161 e:WithinOneYear 2024-05-31 03042161 e:WithinOneYear 2023-05-31 03042161 e:AcceleratedTaxDepreciationDeferredTax 2024-05-31 03042161 e:AcceleratedTaxDepreciationDeferredTax 2023-05-31 03042161 e:TaxLossesCarry-forwardsDeferredTax 2024-05-31 03042161 e:TaxLossesCarry-forwardsDeferredTax 2023-05-31 03042161 2 2023-06-01 2024-05-31 03042161 4 2023-06-01 2024-05-31 03042161 f:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03042161









SKI LINE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
SKI LINE LIMITED
REGISTERED NUMBER: 03042161

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
21,579
35,236

  
21,579
35,236

Current assets
  

Debtors: amounts falling due within one year
 5 
591,195
313,125

Cash at bank and in hand
 6 
741,624
771,002

  
1,332,819
1,084,127

Creditors: amounts falling due within one year
 7 
(802,613)
(698,938)

Net current assets
  
 
 
530,206
 
 
385,189

Total assets less current liabilities
  
551,785
420,425

Creditors: amounts falling due after more than one year
 8 
(95,833)
(145,833)

Provisions for liabilities
  

Deferred tax
 10 
(5,394)
-

  
 
 
(5,394)
 
 
-

Net assets
  
450,558
274,592


Capital and reserves
  

Called up share capital 
 11 
111
111

Share premium account
 12 
274,989
274,989

Profit and loss account
 12 
175,458
(508)

  
450,558
274,592


Page 1

 
SKI LINE LIMITED
REGISTERED NUMBER: 03042161
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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 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 income statement 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 28 August 2024.




A Kinloch
Director

The notes on pages 5 to 13 form part of these financial statements.

Page 2

 
SKI LINE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024


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

£
£
£
£


At 1 June 2022
111
274,989
(147,505)
127,595


Comprehensive income for the year

Profit for the year
-
-
146,997
146,997
Total comprehensive income for the year
-
-
146,997
146,997



At 1 June 2023
111
274,989
(508)
274,592



Profit for the year
-
-
175,966
175,966
Total comprehensive income for the year
-
-
175,966
175,966


At 31 May 2024
111
274,989
175,458
450,558


The notes on pages 5 to 13 form part of these financial statements.

Page 3

 
SKI LINE LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
175,966
146,997

Adjustments for:

Depreciation of tangible assets
13,657
17,447

Coronavirus (Covid-19) business support grants
-
(81)

Interest paid
15,870
15,045

Interest received
(5,472)
(3,647)

Taxation charge
56,170
32,745

(Increase)/decrease in debtors
(286,894)
498,728

Increase/(decrease) in creditors
61,723
(319,699)

Corporation tax received
-
24,704

Net cash generated from operating activities

31,020
412,239


Cash flows from investing activities

Coronavirus (Covid-19) business support grants
-
81

Interest received
5,472
3,647

Net cash from investing activities

5,472
3,728

Cash flows from financing activities

Repayment of loans
(50,000)
(50,000)

Interest paid
(15,870)
(15,045)

Net cash used in financing activities
(65,870)
(65,045)

Net (decrease)/increase in cash and cash equivalents
(29,378)
350,922

Cash and cash equivalents at beginning of year
771,002
420,080

Cash and cash equivalents at the end of year
741,624
771,002


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
741,624
771,002

741,624
771,002


The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
SKI LINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Ski Line Limited is a private company limited by shares and incorporated in England under registered number 03042161. Its registered office is at 44 Chancery Lane, Beckenham, Kent BR3 6NR.

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

Going concern

The travel industry is experiencing the benefit of a post Covid-19 bounce back in travel. However, there remains consumer unease in relation to the current economic environment, with increasing energy costs and inflation impact, has meant that Company management and the directors have continued to review the Company’s financial position, and plan mitigation actions in order to neutralise the financial impact from the significant downturn in trading.
Given the Company's good cash reserves the directors are confident that the Company will have sufficient funds and cash reserves to continue to meet liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

Page 5

 
SKI LINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 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.

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 Income Statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover represents commissions earned on the sale of ski holidays, which are recognised once the supplier has been paid.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

 
2.6

Interest income

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

 
2.7

Borrowing costs

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

Page 6

 
SKI LINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 7

 
SKI LINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as per table below.

Depreciation is provided on the following basis:

Short-term leasehold property
-
over the lease term
Plant and machinery
-
3 years straight line
Software development
-
between 3 and 6 years on a straight line basis

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.

 
2.12

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.

 
2.13

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.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.14

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.

 
2.15

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.

Page 8

 
SKI LINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees

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


        2024
        2023
            No.
            No.







Average number of employees
8
8


4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Software development
Total

£
£
£
£



Cost or valuation


At 1 June 2023
26,260
76,347
247,114
349,721



At 31 May 2024

26,260
76,347
247,114
349,721



Depreciation


At 1 June 2023
26,260
76,141
212,084
314,485


Charge for the year on owned assets
-
206
13,451
13,657



At 31 May 2024

26,260
76,347
225,535
328,142



Net book value



At 31 May 2024
-
-
21,579
21,579



At 31 May 2023
-
206
35,030
35,236


5.


Debtors

2024
2023
£
£


Other debtors
84,969
56,760

Prepayments and accrued income
506,226
247,541

Deferred taxation
-
8,824

591,195
313,125


Page 9

 
SKI LINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.Debtors (continued)

Included in prepayments and accrued income is the sum of £497,858 (2023: £245,319) of supplier payments made in advance for departures from 1 June 2024 onwards.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
741,624
771,002

741,624
771,002



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
50,000
50,000

Corporation tax
41,952
-

Other taxation and social security
20,524
14,546

Other creditors
85,830
64,825

Accruals and deferred income
604,307
569,567

802,613
698,938


Included in accruals and deferred income is the sum of £566,180 (2023: £503,008) of customer monies received in advance for departures from 1 June 2024 onwards.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
95,833
145,833

95,833
145,833


Page 10

 
SKI LINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
50,000
50,000


50,000
50,000


Bank loans
50,000
(50,000)


50,000
(50,000)

Amounts falling due 2-5 years

Bank loans
45,833
195,833


45,833
195,833


145,833
195,833


The bank loan is from HSBC UK and is supported by the Coronavirus Business Interruption Loan Scheme. The loan is for a term of 72 months with no capital repayments or interest payments for the first twelve months. Thereafter, interest is payable at 3.99% per annum over the bank base rate.

Page 11

 
SKI LINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
8,824
41,530


Charged to profit or loss
(14,218)
(32,706)



At end of year
(5,394)
8,824

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(5,394)
(8,104)

Tax losses carried forward
-
16,928

(5,394)
8,824


11.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



4,722 (2023 - 4,722) A Ordinary shares of £0.01 each
47
47
4,723 (2023 - 4,723) B Ordinary shares of £0.01 each
47
47
1,111 (2023 - 1,111) C Ordinary shares of £0.01 each
11
11
555 (2023 - 555) D Ordinary shares of £0.01 each
6
6

111

111

The above shares rank equally for voting and dividend distribution purposes.



12.


Reserves

Profit and loss account

The profit and loss account represents the net distributable reserves of the Company at the date of the statement of financial position.

Page 12

 
SKI LINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

13.


Contingent liabilities

As at 31 May 2024 there were contingent liabilities outstanding in respect of counter indemnities given by the Company, in the normal course of business, to the Company's bond insurance obligors in respect of ABTA travel bonds amounting to £186,238 (2023: £167,815).       


14.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension charge represents contributions payable by the Company to the fund and amounted to £60,159 (2023: £2,621).


15.


Commitments under operating leases

At 31 May 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
17,500
17,500

17,500
17,500


16.


Related party transactions

During the year, the Company incurred rent expenses of £17,500 (2023:£17,500) for premises owned by the directors through their pension funds.       


17.


Cash collateral and fixed charge

As at 31 May 2024 HSBC UK Bank Plc has a fixed and floating charge, dated 6 April 2021 over the assets of the Company to secure bank borrowings.


18.


Controlling party

The Company is controlled by its directors Sarah Saxon and Angus Kinloch who jointly hold 85% of the issued share capital of the Company.      

 
Page 13