Oasis Travel (N.I.) Limited
Financial Statements
30 April 2024
Company Registration Number: NI017848
Oasis Travel (N.I.) Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Officers and professional advisers 1
Directors' report 2
Strategic report 4
Independent auditor's report to the members 6
Income statement 12
Statement of comprehensive income 13
Statement of financial position 14
Statement of changes in equity 15
Statement of cash flows 16
Notes to the financial statements 17
Oasis Travel (N.I.) Limited
Officers and Professional Advisers
Directors Mrs S Corkin-McCabe
Mr P McCabe
Secretary Mrs W Corkin
Auditor William Wilson
Chartered Accountants & Registered Auditor
25 Shore Road
Holywood
BT18 9HX
Registered office 28-30 Railway Street
Lisburn
County Antrim
BT28 1XG
Bankers Danske Bank
Belfast Business Centre
P.O. Box 183
Donegall Square West
Belfast
BT1 6JS
Solicitors Donaldson McConnell & Co Solictors
8-10 Graham Gardens
Lisburn
BT28 1XE
Oasis Travel (N.I.) Limited
Directors' Report
Year ended 30 April 2024
The directors present their report and financial statements for the year ended 30 April 2024.
Directors
The following persons served as directors during the year:
Mrs S Corkin-McCabe
Mr P McCabe
Going concern
The directors have considered the company's current and future prospects taking into consideration cash flows and liquidity. A number of scenarios have been run and these show that the company should continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.

The company's results have exceeded pre-pandemic levels over the last couple of years (despite the cost of living crisis) which gives the directors confidence that their assessment of going concern is correct.

Directors' responsibilities
The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Dividends
Dividends of £62,381 were paid during the year. The directors have not recommended payment of a further final dividend for the year.
This report was approved by the board on 5 September 2024 and signed on its behalf.
Mrs S F Corkin-McCabe
Director
Registered office:
28-30 Railway Street
Lisburn
County Antrim
BT28 1XG
Oasis Travel (N.I.) Limited
Strategic Report
Year ended 30 April 2024
The directors present their strategic report of the company for the year ended 30 April 2024.
The principal activity of the company during the year was the operation of a travel agency through eight branches in Northern Ireland.
Business review
The company had been adversely affected by the Covid-19 pandemic but the company's results have continued to exceed pre-pandemic levels.
Key financial performance indicators are summarised below:
2024 2023
£'000 £'000
Gross profit 3,318 2,959
Operating profit 552 515
Net assets 904 628
Financial risk management and objectives and policies
The company does not have any significant exposure to either currency or credit risks. The company has in place bank and other facilities which are considered sufficient to meet projected medium term funding requirements and any residual liquidity risk is considered to be acceptable. The company is fully ABTA, ATOL and CAR bonded. The directors operate a policy which minimises the exposure of the company to price risk. Margins are constantly under review and are set to reflect market demand and competitor pricing.
Development and performance
The pandemic led to an opportunity to attract customers who previously booked their holidays themselves and who now prefer to mitigate the risk of cancelled holiday plans by booking through reputable travel agents.
Demand for holidays is vulnerable to general economic conditions . However, demand has continued despite the cost of living crisis. This can be attributed to the company's core business being cruises and luxury holidays.
In order to ensure that the company remains a market leader in Northern Ireland in the cruise/luxury holidays market, the company continues to invest heavily in staff training. The company's employees and the wealth of experience that they bring to their roles is fundamental to the company's success. Therefore, employee welfare is a key component of the company's operations.
This report was approved by the board of directors on 5 September 2024 and signed on behalf of the board by:
Mrs S F Corkin-McCabe
Director
Registered office:
28-30 Railway Street
Lisburn
County Antrim
BT28 1XG
Oasis Travel (N.I.) Limited
Independent Auditor's Report to the Members of Oasis Travel (N.I.) Limited
Year ended 30 April 2024
Opinion
We have audited the financial statements of Oasis Travel (N.I.) Limited for the year ended 30 April 2024 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis of opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation, ATOL and ABTA regulations;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC and the company’s legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Mr William Wilson 05 September 2024
Senior Statutory Auditor
For and on behalf of
William Wilson Chartered Accountants
Chartered Accountants and Statutory Auditor
25 Shore Road
Holywood
BT18 9HX
Oasis Travel (N.I.) Limited
Income Statement
Year ended 30 April 2024
Notes 2024 2023
£ £
Turnover 4 34,082,381 30,823,462
Cost of sales (30,764,557) (27,864,442)
Gross profit 3,317,824 2,959,020
Administrative expenses (2,795,387) (2,467,184)
Other operating income 29,199 23,358
Operating profit 5 551,636 515,194
Interest payable 8 (81,922) (81,635)
Profit on ordinary activities before taxation 469,714 433,559
Tax on profit on ordinary activities 9 (131,133) (51,940)
Profit for the financial year 338,581 381,619
Oasis Travel (N.I.) Limited
Statement of Comprehensive Income
Year ended 30 April 2024
Notes 2024 2023
£ £
Profit for the financial year 338,581 381,619
Other comprehensive income - -
Total comprehensive income for the year 338,581 381,619
Oasis Travel (N.I.) Limited
Statement of Financial Position
30 April 2024
2024 2023
£ £
Notes
Fixed assets
Intangible assets 10 99,000 132,000
Tangible assets 11 671,157 654,196
Investment property 12 412,147 412,147
1,182,304 1,198,343
Current assets
Debtors 13 8,954,163 8,611,263
Cash at bank and in hand 4,250,956 3,589,360
13,205,119 12,200,623
Creditors: amounts falling due within one year 14 (12,742,027) (11,762,571)
Net current assets 463,092 438,052
Total assets less current liabilities 1,645,396 1,636,395
Creditors: amounts falling due after more than one year 15 (572,010) (850,295)
Provisions for liabilities
Deferred taxation 17 (49,141) (39,827)
Other provisions 18 (120,427) (118,655)
(169,568) (158,482)
Net assets 903,818 627,618
Capital and reserves
Called up share capital 19 22,500 22,500
Profit and loss account 20 881,318 605,118
Members' funds 903,818 627,618
These financial statements were approved by the board of directors and authorised for issue on 5 August 2024, and are signed on behalf of the board by:
Mrs S F Corkin-McCabe
Director
Company registration number: NI017848
Oasis Travel (N.I.) Limited
Statement of Changes in Equity
Year ended 30 April 2024
Share Profit Total
capital and loss
account
£ £ £
At 1 May 2022 22,500 299,461 321,961
Profit for the financial year - 381,619 381,619
Dividends - (75,962) (75,962)
At 30 April 2023 22,500 605,118 627,618
At 1 May 2023 22,500 605,118 627,618
Profit for the financial year - 338,581 338,581
Dividends - (62,381) (62,381)
At 30 April 2024 22,500 881,318 903,818
Oasis Travel (N.I.) Limited
Statement of Cash Flows
Year ended 30 April 2024
Notes 2024 2023
£ £
Operating activities
Profit for the financial year 338,581 381,619
Adjustments for:
Interest payable 81,922 81,635
Tax on profit on ordinary activities 131,133 51,940
Depreciation 97,625 89,249
Amortisation of goodwill 33,000 33,000
Increase in debtors (342,900) (1,427,024)
Increase in creditors 843,617 2,871,251
1,182,978 2,081,670
Interest paid (81,922) (81,635)
Corporation tax paid (30,649) -
Cash generated by operating activities 1,070,407 2,000,035
Investing activities
Payments to acquire tangible fixed assets (114,586) (128,301)
Cash used in investing activities (114,586) (128,301)
Financing activities
Equity dividends paid (62,381) (75,962)
Repayment of loans (231,844) (95,843)
Cash used in financing activities (294,225) (171,805)
Net cash generated
Cash generated by operating activities 1,070,407 2,000,035
Cash used in investing activities (114,586) (128,301)
Cash used in financing activities (294,225) (171,805)
Net cash generated 661,596 1,699,929
Cash and cash equivalents at 1 May 3,589,360 1,889,431
Cash and cash equivalents at 30 April 4,250,956 3,589,360
Cash and cash equivalents comprise:
Cash at bank 4,250,956 3,589,360
Bank overdrafts 14 - -
4,250,956 3,589,360
Oasis Travel (N.I.) Limited
Notes to the Accounts
Year ended 30 April 2024
1 General information
The company is a private company limited by shares , registered in Northern Ireland. The address of the registered office is 28-30 Railway Street, Lisburn, BT28 1XG .
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
3 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost basis , as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through the profit and loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have considered the company's current and future prospects taking into consideration cash flows and liquidity. A number of scenarios have been run and these show that the company should continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.

The company's results have exceeded pre-pandemic levels over the last couple of years (despite the cost of living crisis) which gives the directors confidence that their assessment of going concern is correct.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that reflect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The directors applied their judgement when carrying out an impairment review of the company's assets. The directors are of the opinion that none of the company's assets have been impaired as at the balance sheet date. The directors took into account general economic conditions but recognise that there is a degree of uncertainty as to how these impact values, particularly with regards to the properties owned by the company. The properties are all maintained to the highest standards.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied or services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Turnover represents the gross value of the holiday bookings including commission and excluding value added tax and discounts given to customers. Turnover from these sales is recognised at the point of booking . The full cost of the bookings are recognised in cost of sales at the point of booking.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Goodwill 20% straight line
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property 2% straight line
Fixtures and fittings 25% reducing balance
Motor vehicles 25% reducing balance
Investment property
Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount requires to settle the obligation at the reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in the profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in the profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Pensions
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4 Analysis of turnover 2024 2023
£ £
Sale of goods 34,082,381 30,823,462
By geographical market:
UK 34,082,381 30,823,462
5 Operating profit 2024 2023
£ £
This is stated after charging:
Depreciation of owned fixed assets 97,625 89,249
Operating lease rentals - land and buildings 112,724 97,461
Auditors' remuneration for audit services 12,500 14,000
Auditors' remuneration for other services 4,275 3,600
Foreign exchange losses/(gains) 10,363 18,954
6 Directors' emoluments 2024 2023
£ £
Emoluments 11,004 11,004
Company contributions to defined contribution pension plans 286 286
11,290 11,290
Number of directors to whom retirement benefits accrued: 2024 2023
Number Number
Defined contribution plans 1 1
7 Staff costs 2024 2023
£ £
Wages and salaries 1,466,883 1,215,303
Social security costs 128,378 107,506
Other pension costs 39,174 34,138
1,634,435 1,356,947
Average number of employees during the year Number Number
Administration 60 53
8 Interest payable 2024 2023
£ £
Bank loans and overdrafts 81,922 81,635
9 Taxation 2024 2023
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 121,819 30,649
Deferred tax:
Origination and reversal of timing differences 9,314 21,291
Tax on profit on ordinary activities 131,133 51,940
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2024 2023
£ £
Profit on ordinary activities before tax 469,714 433,559
Standard rate of corporation tax in the UK 25% 20%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax 117,429 86,712
Effects of:
Expenses not deductible for tax purposes 3,380 448
Capital allowances for period in excess of depreciation 1,003 (6,136)
Utilisation of tax losses - (47,713)
Adjustments to tax charge in respect of previous periods - -
Other tax adjustment 7 (2,662)
Current tax charge for period 121,819 30,649
10 Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 165,000
At 30 April 2024 165,000
Amortisation
At 1 May 2023 33,000
Provided during the year 33,000
At 30 April 2024 66,000
Carrying amount
At 30 April 2024 99,000
At 30 April 2023 132,000
Goodwill will be written off in equal annual instalments over its estimated economic life of 5 years.
11 Tangible fixed assets
Land and buildings Fixtures and fittings Motor vehicles Total
At cost At cost At cost
£ £ £ £
Cost or valuation
At 1 May 2023 508,334 780,960 4,000 1,293,294
Additions - 114,586 - 114,586
At 30 April 2024 508,334 895,546 4,000 1,407,880
Depreciation
At 1 May 2023 96,979 539,252 2,867 639,098
Charge for the year 8,267 89,074 284 97,625
At 30 April 2024 105,246 628,326 3,151 736,723
Carrying amount
At 30 April 2024 403,088 267,220 849 671,157
At 30 April 2023 411,355 241,708 1,133 654,196
Land and buildings comprise:
Land Long leasehold property Total
£ £
Cost or valuation
At 1 May 2023 95,000 413,334 508,334
At 30 April 2024 95,000 413,334 508,334
Depreciation
At 1 May 2023 - 96,979 96,979
Charge for the year - 8,267 8,267
At 30 April 2024 - 105,246 105,246
Carrying amount
At 30 April 2024 95,000 308,088 403,088
At 30 April 2023 95,000 316,355 411,355
12 Investment property 2024
£
Valuation
At 1 May 2023 815,174 412,147
At 30 April 2024 412,147
The directors are of the opinion that the original cost of the investment property of £412,147 represents a fair value of the property at 30 April 2024.

This opinion was reached after assessing recent selling prices of similar properties in the
area. As the property is maintained to a high standard and is in an area with a buoyant market the directors are confident that there are no indicators of impairment.
13 Debtors 2024 2023
£ £
Trade debtors 8,829,832 8,497,152
Other debtors 20,854 10,417
Prepayments and accrued income 103,477 103,694
8,954,163 8,611,263
14 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 111,474 121,039
Trade creditors 12,387,812 11,419,076
Corporation tax 121,819 30,649
Other taxes and social security costs 68,682 57,356
Other creditors 20,669 103,999
Accruals and deferred income 31,571 30,452
12,742,027 11,762,571
Northern Bank Limited hold a charge over the land and premises at 30 Railway Street, Lisburn.
Northern Bank Limited also hold a first legal charge over properties at 132 Longstone Street, Lisburn and 13 Lisburn Street, Hillsborough and a second legal charge over the property at 19 Los Cupresos Campo Mijas.
15 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 561,516 783,795
Other creditors - 55,000
Accruals and deferred income 10,494 11,500
572,010 850,295
16 Loans 2024 2023
£ £
Loans not wholly repayable within five years:
Danske CBILS loan 1 (£600,000 over 10 years at 3.4% over Danske Bank Reference Rate - currently 1.75%) - 469,329
Danske CBILS loan 2 (£500,000 over 10 years at 3.4% over Danske Bank Reference Rate - currently 1.75%). Repayments commenced October 2021. - 435,502
- 904,831
Analysis of maturity of debt:
Within one year or on demand 111,474 121,036
Between one and two years 121,498 121,036
Between two and five years 440,018 363,108
After five years - 299,651
672,990 904,831
17 Deferred taxation 2024 2023
£ £
Accelerated capital allowances 49,141 39,827
2024 2023
£ £
At 1 May 39,827 18,536
Charged to the profit and loss account 9,314 21,291
At 30 April 49,141 39,827
18 Provisions for liabilities
Provision for bedbank failure
£
At 1 May 2023 118,655
Additional provisions made during the period 1,772
At 30 April 2024 120,427
19 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 22,500 22,500 22,500
20 Profit and loss account 2024 2023
£ £
At 1 May 605,118 299,461
Profit for the financial year 338,581 381,619
Dividends (62,381) (75,962)
At 30 April 881,318 605,118
21 Dividends 2024 2023
£ £
Dividends on ordinary shares (note 20) 62,381 75,962
22 Other financial commitments
Total future minimum lease payments under non-cancellable operating leases:
Land and buildings Land and buildings Other Other
2024 2023 2024 2023
£ £ £ £
Falling due:
within one year 108,600 81,625 6,000 -
within two to five years 2,500 26,750 7,040 -
111,100 108,375 13,040 -
23 Reconciliation of net debt
1 May 2023 Cash flows Non-cash changes 30 April 2024
£ £ £ £
Cash and cash equivalents 3,589,360 661,596 - 4,250,956
Bank overdrafts - - - -
3,589,360 661,596 - 4,250,956
Borrowings:
Bank loans (904,834) 231,844 - (672,990)
(904,834) 231,844 - (672,990)
Net debt 2,684,526 893,440 - 3,577,966
24 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs S Corkin-McCabe
Interest free loan repayable on demand - (59,380) 59,380 -
Mr P McCabe
Interest free loan repayable on demand - (3,000) 3,000 -
- (62,380) 62,380 -
25 Guarantees
Mrs Sandra Corkin-McCabe (a director of the company) has given Danske Bank a personal guarantee up to the value of £420,000.
The Department of Business Energy Industrial Strategy has given guarantees in respect of the CBILS loans totalling £880,000.
At the balance sheet date there were two bonds in place where Danske Bank provided guarantees and these have been renewed since the balance sheet date.
Current expiry date Current guarantee amount Guarantee amount at 30 April 2024
£ £
CAA 31.03.2025 50,000 200,000
ABTA Limited 31.01.2025 468,975 371,602
26 Controlling party
Mrs S Corkin-McCabe (a director of the company) is considered to be the ultimate controlling party of the company due to her majority shareholding in the company.
27 Presentation currency
The financial statements are presented in Sterling.
28 Legal form of entity and country of incorporation
Oasis Travel (N.I.) Limited is a private company limited by shares and incorporated in Northern Ireland.
29 Principal place of business
The address of the company's principal place of business and registered office is:
28-30 Railway Street
Lisburn
County Antrim
BT28 1XG
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