Company registration number 00853213 (England and Wales)
BLACKHEATH TRAVEL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
BLACKHEATH TRAVEL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
BLACKHEATH TRAVEL LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
9,090
6,501
Investments
5
286
286
9,376
6,787
Current assets
Debtors
6
21,772
19,021
Cash at bank and in hand
347,229
275,190
369,001
294,211
Creditors: amounts falling due within one year
7
(157,545)
(162,812)
Net current assets
211,456
131,399
Total assets less current liabilities
220,832
138,186
Creditors: amounts falling due after more than one year
8
(10,856)
(31,445)
Provisions for liabilities
(1,069)
(1,069)
Net assets
208,907
105,672
Capital and reserves
Called up share capital
51,251
51,251
Profit and loss reserves
157,656
54,421
Total equity
208,907
105,672

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 September 2024 and are signed on its behalf by:
Mr J P Clee
Director
Company registration number 00853213 (England and Wales)
BLACKHEATH TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Blackheath Travel Limited is a private company limited by shares incorporated in England and Wales. The registered office is 27 King Street, Knutsford, England, WA16 6DW.

1.1
Reporting period

The comparative year figures were prepared for the period of 1 November 2021 to 30 April 2023 in order to align with group reporting periods.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 prior period was an extended period. Therefore, the comparative figures are not entirely comparable.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of The Eden Collection Limited. These consolidated financial statements are available from its registered office, 27 King Street, Knutsford, WA16 6DW.

1.3
Turnover

The turnover is generated through the company's travel agent activities. Revenue is recognised on a departure basis in line with group accounting policies. Commissions received for holidays and flights are charged to the profit and loss account on this basis. The brochure and other marketing costs are charged to the profit and loss account in the season to which they relate.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

BLACKHEATH TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
15% reducing balance
Computers
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

BLACKHEATH TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BLACKHEATH TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Useful life of assets

The useful economic lives of tangible fixed assets must be estimated by management to determine the period over which they are depreciated. A change in estimate would result in a change to the depreciation charged to the statement of comprehensive income in the period.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
6
BLACKHEATH TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2023
3,515
9,022
12,537
Additions
967
4,214
5,181
At 30 April 2024
4,482
13,236
17,718
Depreciation and impairment
At 1 May 2023
1,199
4,837
6,036
Depreciation charged in the year
492
2,100
2,592
At 30 April 2024
1,691
6,937
8,628
Carrying amount
At 30 April 2024
2,791
6,299
9,090
At 30 April 2023
2,316
4,185
6,501
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
286
286
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
24
24
Other debtors
21,748
18,997
21,772
19,021
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
6,814
Amounts owed to group undertakings
-
0
4,697
Taxation and social security
20,069
14,408
Other creditors
137,476
136,893
157,545
162,812
BLACKHEATH TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
10,856
31,445
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Alastair Jeffcott BA FCA
Statutory Auditor:
Xeinadin Audit Limited
Date of audit report:
6 September 2024
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
98,542
137,500
11
Related party transactions

During the prior period Blackheath Travel Limited wrote off its intercompany balance with Ashdown Travel Limited (its immediate parent) to the amount of £134,649. The intercompany balance at the balance sheet date is £NIL (2023: £NIL)

12
Parent company

Blackheath Travel Limited immediate parent is Ashdown Travel Limited. Company number 01889805. Registered office 27 King Street, Knutsford, England, WA16 6DW

 

Blackheath Travel Limited ultimate parent company is The Eden Collection Limited. Company number 06664069. Registered office 27 King Street, Knutsford, England, WA16 6DW

13
Prior period adjustment
Changes to the balance sheet
As previously reported
Adjustment at 1 Nov 2021
Adjustment at 30 Apr 2023
As restated at 30 Apr 2023
£
£
£
£
Current assets
Debtors due within one year
1,031,907
1,207,448
(2,220,334)
19,021
Creditors due within one year
Other creditors
(1,161,290)
(1,382,240)
2,395,126
(148,404)
BLACKHEATH TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
13
Prior period adjustment
As previously reported
Adjustment at 1 Nov 2021
Adjustment at 30 Apr 2023
As restated at 30 Apr 2023
£
£
£
£
(Continued)
- 8 -
Net assets
105,672
(174,792)
174,792
105,672
Capital and reserves
Profit and loss reserves
54,421
(174,792)
174,792
54,421
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 30 April 2023
£
£
£
Turnover
4,854,445
(4,291,054)
563,391
Cost of sales
(4,291,054)
4,291,054
-
Loss for the financial period
(4,373)
-
(4,373)
Reconciliation of changes in equity
The prior period adjustments do not give rise to any effect upon equity.
Reconciliation of changes in loss for the previous financial period
2023
£
Total adjustments
-
Loss as previously reported
(4,373)
Loss as adjusted
(4,373)
Notes to reconciliation
Change of accounting policy for revenue recognition

The company has changed its accounting policy for revenue recognition. The previous accounting policy was to recognise the gross transaction value received. The new accounting policy is to recognise the commission received. In the opinion of the directors, the new policy provides reliable information and is more relevant than the policy it replaces because the entity operates as an agent rather than a principal and the income should be recognised accordingly.

 

The change in accounting policy has been applied retrospectively, and comparative information has been restated accordingly. This note details the effect on the financial statements.

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