Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31trueTour operator and licensed Travel agencytruetrue2023-01-01false33true 04622108 2023-01-01 2023-12-31 04622108 2022-01-01 2022-12-31 04622108 2023-12-31 04622108 2022-12-31 04622108 c:CompanySecretary1 2023-01-01 2023-12-31 04622108 c:Director1 2023-01-01 2023-12-31 04622108 c:Director2 2023-01-01 2023-12-31 04622108 c:Director3 2023-01-01 2023-12-31 04622108 c:RegisteredOffice 2023-01-01 2023-12-31 04622108 d:PlantMachinery 2023-01-01 2023-12-31 04622108 d:PlantMachinery 2023-12-31 04622108 d:PlantMachinery 2022-12-31 04622108 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04622108 d:FurnitureFittings 2023-01-01 2023-12-31 04622108 d:FurnitureFittings 2023-12-31 04622108 d:FurnitureFittings 2022-12-31 04622108 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04622108 d:OfficeEquipment 2023-01-01 2023-12-31 04622108 d:OfficeEquipment 2023-12-31 04622108 d:OfficeEquipment 2022-12-31 04622108 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04622108 d:ComputerEquipment 2023-01-01 2023-12-31 04622108 d:ComputerEquipment 2023-12-31 04622108 d:ComputerEquipment 2022-12-31 04622108 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04622108 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04622108 d:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 04622108 d:CurrentFinancialInstruments 2023-12-31 04622108 d:CurrentFinancialInstruments 2022-12-31 04622108 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04622108 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04622108 d:ShareCapital 2023-12-31 04622108 d:ShareCapital 2022-12-31 04622108 d:RetainedEarningsAccumulatedLosses 2023-12-31 04622108 d:RetainedEarningsAccumulatedLosses 2022-12-31 04622108 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04622108 c:OrdinaryShareClass1 2023-12-31 04622108 c:OrdinaryShareClass1 2022-12-31 04622108 c:FRS102 2023-01-01 2023-12-31 04622108 c:Audited 2023-01-01 2023-12-31 04622108 c:FullAccounts 2023-01-01 2023-12-31 04622108 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04622108 d:ComputerSoftware 2023-12-31 04622108 d:ComputerSoftware 2022-12-31 04622108 d:UltimateParent 2023-01-01 2023-12-31 04622108 d:UltimateParent 2023-12-31 04622108 d:UltimateParent 2022-12-31 04622108 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04622108 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04622108 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04622108 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 04622108 6 2023-01-01 2023-12-31 04622108 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 04622108


PLANET HOLIDAYS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
PLANET HOLIDAYS LIMITED
 
 
COMPANY INFORMATION


Directors
C Kyrillou 
M Robert 
C Wright 




Company secretary
C Wright



Registered number
04622108



Registered office
Sunvil House
Upper Square

Isleworth

Middlesex

TW7 7BJ




Independent auditors
Xeinadin Audit Limited
Chartered Accountants & Statutory Auditor

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD





 
PLANET HOLIDAYS LIMITED
 

CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 11


 
PLANET HOLIDAYS LIMITED
REGISTERED NUMBER: 04622108

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
  
6,075
-

Tangible assets
 6 
4,106
5,314

Investments
 7 
1
1

  
10,182
5,315

Current assets
  

Debtors: amounts falling due within one year
 8 
161,006
211,406

Cash at bank and in hand
  
178,031
110,210

  
339,037
321,616

Creditors: amounts falling due within one year
 9 
(71,011)
(120,292)

Net current assets
  
 
 
268,026
 
 
201,324

Total assets less current liabilities
  
278,208
206,639

Provisions for liabilities
  

Deferred tax
 10 
(656)
(876)

  
 
 
(656)
 
 
(876)

Net assets
  
277,552
205,763


Capital and reserves
  

Called up share capital 
 11 
400,000
400,000

Profit and loss account
  
(122,448)
(194,237)

  
277,552
205,763


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 July 2024.




C Kyrillou
Director

Page 1

 
PLANET HOLIDAYS LIMITED
REGISTERED NUMBER: 04622108
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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

Page 2

 
PLANET HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Planet Holidays Limited is a private company limited by shares incorporated in England and Wales, United Kingdom.
The address of the registered office is given on the Company Information page of these financial statements. 
The principal activity continued to be that of a tour operator and licensed travel agency.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).

This information is included in the consolidated financial statements of Sunvil International Sales Limited as at [31st December 2023 and these financial statements may be obtained from Sunvil House, Upper Square, Isleworth, Middlesex, TW7 7BJ.

 
2.3

Revenue

Turnover represents amounts receivable from the sale of holidays recognised on the date of departure, together with net non-refundable deposits for advanced bookings and other services supplied to customers.

Page 3

 
PLANET HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

 Amortisation is provided on the following bases:

Website Development cost
-
25%
on reducing balance

 
2.5

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% on reducing balance
Fixtures and fittings
-
25% on reducing balance
Office equipment
-
25% on reducing balance
Computer equipment
-
25% on reducing balance

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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

Page 4

 
PLANET HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

 
2.10

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.

 
2.11

Foreign currency translation

Functional and presentation currency

These financial statements are presented in pound sterling, which is the Company's functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

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 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'.

  
2.12
Advanced receipts and payments

All revenue received relating to bookings that depart after the Statement of Financial Position date is treated as advance receipts and is separately disclosed under accruals and deferred income.
Payments made to suppliers relating to bookings that depart after the Statement of Financial Position date are treated as advance payments and are separately disclosed under prepayments and accrued income.

Page 5

 
PLANET HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

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.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

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.


3.


Other operating income




4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 6

 
PLANET HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Intangible assets




Computer software

£



Cost


Additions
8,100



At 31 December 2023

8,100



Amortisation


Charge for the year on owned assets
2,025



At 31 December 2023

2,025



Net book value



At 31 December 2023
6,075



At 31 December 2022
-



Page 7

 
PLANET HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost


At 1 January 2023
7,507
18,704
15,295
128,920
170,426



At 31 December 2023

7,507
18,704
15,295
128,920
170,426



Depreciation


At 1 January 2023
7,479
18,624
14,921
124,088
165,112


Charge for the year on owned assets
6
18
85
1,099
1,208



At 31 December 2023

7,485
18,642
15,006
125,187
166,320



Net book value



At 31 December 2023
22
62
289
3,733
4,106



At 31 December 2022
28
80
374
4,832
5,314

Page 8

 
PLANET HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
1



At 31 December 2023
1




The subsidiary undertaking of the Company is Planet Aviation Limited. The subsidiary is incorporated and sells commerical aviation tickets in England and Wales, United Kingdom.
The Company holds 100% of the shares outstanding, all ordinary.


8.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
84,745
112,949

Other debtors
24,871
39,868

Prepayments and accrued income
51,390
58,589

161,006
211,406


Prepayments and accrued income includes advance payments to suppliers for departures after the Statement of Financial Position date amounting to £44,831 (2022: £56,241).


9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
14,255
10,683

Other taxation and social security
459
431

Other creditors
163
94

Accruals and deferred income
56,134
109,084

71,011
120,292


Accruals and deferred income includes advanced receipts from customers for departures after the Statement of Financial Position date amounting to £51,372 (2022: £84,463).

Page 9

 
PLANET HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




2023


£






At beginning of year
(876)


Charged to profit or loss
220



At end of year
(656)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fixed assets timing difference
(656)
(876)

(656)
(876)


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



400,000 (2022 - 400,000) Ordinary shares of £1.00 each
400,000
400,000



12.


Related party transactions

The Company has taken the exemption available to not disclose transactions within the year between wholly owned subsidiaries.
As at the Statement of Financial Position date, the following balances were owed to Planet Holidays Limited:
Planet Aviation Limited, a subsidiary of the Company, an amount of £8,190 (2022: £12,708).
Sunvil International Sales Limited, the parent entity, an amount of £76,555 (2022: £100,241).


13.


Controlling party

The ultimate parent company is Sunvil International Sales Limited, whose registered office and prinicpal place of business is carried out at Sunvil House, Upper Square, Isleworth, Middlesex, TW7 7BJ.

Page 10

 
PLANET HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 19 July 2024 by Ian Palmer FCA (Senior Statutory Auditor) on behalf of Xeinadin Audit Limited.

 
Page 11