Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falsebusiness services55truetrue 04283077 2023-01-01 2023-12-31 04283077 2022-01-01 2022-12-31 04283077 2023-12-31 04283077 2022-12-31 04283077 1 2023-01-01 2023-12-31 04283077 d:CompanySecretary1 2023-01-01 2023-12-31 04283077 d:Director1 2023-01-01 2023-12-31 04283077 d:Director2 2023-01-01 2023-12-31 04283077 d:Director3 2023-01-01 2023-12-31 04283077 d:Director4 2023-01-01 2023-12-31 04283077 d:RegisteredOffice 2023-01-01 2023-12-31 04283077 c:Buildings c:LongLeaseholdAssets 2023-01-01 2023-12-31 04283077 c:Buildings c:LongLeaseholdAssets 2023-12-31 04283077 c:Buildings c:LongLeaseholdAssets 2022-12-31 04283077 c:FurnitureFittings 2023-01-01 2023-12-31 04283077 c:FurnitureFittings 2023-12-31 04283077 c:FurnitureFittings 2022-12-31 04283077 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04283077 c:ComputerEquipment 2023-01-01 2023-12-31 04283077 c:ComputerEquipment 2023-12-31 04283077 c:ComputerEquipment 2022-12-31 04283077 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04283077 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04283077 c:CurrentFinancialInstruments 2023-12-31 04283077 c:CurrentFinancialInstruments 2022-12-31 04283077 c:Non-currentFinancialInstruments 2023-12-31 04283077 c:Non-currentFinancialInstruments 2022-12-31 04283077 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 04283077 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 04283077 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 04283077 c:Non-currentFinancialInstruments c:AfterOneYear 2022-12-31 04283077 c:ShareCapital 2023-12-31 04283077 c:ShareCapital 2022-12-31 04283077 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 04283077 c:RetainedEarningsAccumulatedLosses 2023-12-31 04283077 c:RetainedEarningsAccumulatedLosses 2022-12-31 04283077 c:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04283077 c:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04283077 c:TaxLossesCarry-forwardsDeferredTax 2023-12-31 04283077 c:TaxLossesCarry-forwardsDeferredTax 2022-12-31 04283077 d:OrdinaryShareClass1 2023-01-01 2023-12-31 04283077 d:OrdinaryShareClass1 2023-12-31 04283077 d:OrdinaryShareClass1 2022-12-31 04283077 d:FRS102 2023-01-01 2023-12-31 04283077 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04283077 d:FullAccounts 2023-01-01 2023-12-31 04283077 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04283077 c:EntityControlledByKeyManagementPersonnel1 2023-01-01 2023-12-31 04283077 c:EntityControlledByKeyManagementPersonnel1 2023-12-31 04283077 c:EntityControlledByKeyManagementPersonnel1 2022-12-31 04283077 c:EntityControlledByKeyManagementPersonnel2 2023-01-01 2023-12-31 04283077 c:EntityControlledByKeyManagementPersonnel2 2023-12-31 04283077 c:EntityControlledByKeyManagementPersonnel2 2022-12-31 04283077 c:EntityControlledByKeyManagementPersonnel3 2023-01-01 2023-12-31 04283077 c:EntityControlledByKeyManagementPersonnel3 2023-12-31 04283077 c:EntityControlledByKeyManagementPersonnel3 2022-12-31 04283077 c:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-01 2023-12-31 04283077 c:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties 2023-01-01 2023-12-31 04283077 c:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2023-01-01 2023-12-31 04283077 c:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-31 04283077 c:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties 2023-12-31 04283077 c:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2023-12-31 04283077 c:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-31 04283077 c:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties 2022-12-31 04283077 c:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 04283077


AMSALEM BUSINESS TRAVEL (UK) LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
AMSALEM BUSINESS TRAVEL (UK) LTD
 
 
COMPANY INFORMATION


Directors
Y Amsalem 
C Goldberger 
A Meisels 
E Amsalem 




Company secretary
A Meisels



Registered number
04283077



Registered office
8th Floor Becket House
36 Old Jewry

EC2R 8DD




Accountants
Xeinadin London Limited
Accountants

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD





 
AMSALEM BUSINESS TRAVEL (UK) LTD
REGISTERED NUMBER:04283077

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
655,494
659,468

  
655,494
659,468

Current assets
  

Debtors: amounts falling due within one year
 5 
513,752
666,366

Bank and cash balances
  
227,197
164,143

  
740,949
830,509

Creditors: amounts falling due within one year
 6 
(446,572)
(484,832)

Net current assets
  
 
 
294,377
 
 
345,677

Total assets less current liabilities
  
949,871
1,005,145

Creditors: amounts falling due after more than one year
 7 
(859,320)
(882,040)

  

Net assets
  
90,551
123,105


Capital and reserves
  

Called up share capital 
 9 
41,000
41,000

Profit and loss account
 10 
49,551
82,105

  
90,551
123,105

Page 1

 
AMSALEM BUSINESS TRAVEL (UK) LTD
REGISTERED NUMBER:04283077
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

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

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Y Amsalem
E Amsalem
Director
Director


Date: 26 June 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
AMSALEM BUSINESS TRAVEL (UK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Amsalem Business Travel (UK) Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is given in the company information of these financial statements. 
The nature of the company's operations and principal activities are that of a travel management company.

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.

  
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue represents the aggregate amount of net commission and transaction fees earned for the arrangement of travel services.

 
2.3

Going concern

Amsalem Tours and Travel Israel, a company incorporated in Israel and in common control, has indicated its willingness and intention to continue to provide ongoing support to the Company.
On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Page 3

 
AMSALEM BUSINESS TRAVEL (UK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 January 2022 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

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

Page 4

 
AMSALEM BUSINESS TRAVEL (UK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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

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 5

 
AMSALEM BUSINESS TRAVEL (UK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Computer equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 6

 
AMSALEM BUSINESS TRAVEL (UK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.
Page 7

 
AMSALEM BUSINESS TRAVEL (UK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.15

  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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
640,178
11,638
34,414
686,230



At 31 December 2023

640,178
11,638
34,414
686,230



Depreciation


At 1 January 2023
-
989
25,773
26,762


Charge for the year on owned assets
-
1,879
2,095
3,974



At 31 December 2023

-
2,868
27,868
30,736



Net book value



At 31 December 2023
640,178
8,770
6,546
655,494



At 31 December 2022
640,178
10,649
8,641
659,468

Page 8

 
AMSALEM BUSINESS TRAVEL (UK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
256,563
563,413

Other debtors
241,667
83,602

Deferred taxation
15,522
19,351

513,752
666,366



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
34,593
34,719

Trade creditors
40,987
184,845

Other creditors
367,198
265,268

Accruals and deferred income
3,794
-

446,572
484,832


At the year end the company had an outstanding BSP liability of £38,238 (2022: £181,188).


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
339,320
362,040

Other loans
20,000
20,000

Other creditors
500,000
500,000

859,320
882,040


Lloyds Bank PLC has fixed and floating charges covering all the property or undertaking of the company, containing a negative pledge.


8.


Deferred taxation

Page 9

 
AMSALEM BUSINESS TRAVEL (UK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
8.Deferred taxation (continued)




2023


£






At beginning of year
19,351


Charged to profit or loss
(3,829)



At end of year
15,522

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(3,829)
(4,822)

Tax losses carried forward
19,351
24,173

15,522
19,351

Page 10

 
AMSALEM BUSINESS TRAVEL (UK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



41,000 (2022 - 41,000) Ordinary shares of £1.00 each
41,000
41,000



10.


Reserves

Profit and loss account

Profit and loss includes all current and prior year retained profits.


11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,982 (2022: £7,774).


12.


Related party transactions

At the year end, the company had a balance payable of £726,051 (2022: £648,515) to Amsalem Tours and Travel Israel, a company incorporated in Israel and under common control.
At the year end, the company had a balance receivable of £28,979 (2022: £-Nil) to Amsalem USA, a company incorporated in the United States and under common control.
At the year end, the company had a balance receivable of £5,231 (2022: £5,321) from Amsalem Mexico , a company incorporated in Mexico and under common control.
At the year end, the company had a balance receivable of £18,828 (2022: £18,828) from Amsalem Turkey, a company incorporated in Turkey and under common control.
At the year end, the company had a balance receivable of £143,410 (2022: £50,512) from Amsalem Hong Kong, a company incorporated in Hong Kong and under common control.
At the year end, the company had a balance payable of £128,221 (2022: £128,221) to Amsalem India, a company incorporated in India and under common control.

Page 11

 
AMSALEM BUSINESS TRAVEL (UK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Post balance sheet events

The directors have concluded that no other material events have occurred since the date of approval of these financial statements that would affect the financial statements of the Company.


14.


Controlling party

The controlling party is the Amsalem family by virtue of their shareholding in the company.

 
Page 12