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REGISTERED NUMBER: 07372928 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 29th February 2024

for

Bailey Robinson Holdings Limited

Bailey Robinson Holdings Limited (Registered number: 07372928)






Contents of the Consolidated Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Statement of Comprehensive Income 6

Consolidated Balance Sheet 7

Company Balance Sheet 8

Consolidated Statement of Changes in Equity 9

Company Statement of Changes in Equity 10

Consolidated Cash Flow Statement 11

Notes to the Consolidated Cash Flow Statement 12

Notes to the Consolidated Financial Statements 13


Bailey Robinson Holdings Limited

Company Information
for the Year Ended 29th February 2024







DIRECTORS: P R Clay
J W B Duncan
M R M Foster
H N Mountain
A H W V Murray
R I D Pilkington
G L Stephenson
C A L White





SECRETARY: H C Parker





REGISTERED OFFICE: 25 High Street
Hungerford
Berkshire
RG17 0NF





REGISTERED NUMBER: 07372928 (England and Wales)





AUDITORS: James Cowper Kreston Audit
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG19 6AB

Bailey Robinson Holdings Limited (Registered number: 07372928)

Group Strategic Report
for the Year Ended 29th February 2024

The group was formed in November 2011 and comprises two travel companies:

- Bailey Robinson Limited - a tour operator in Hungerford
- Real Holidays Travel Agency Limited - a tour operator and travel agency in London

The group's objective is to build a federation of businesses where the emphasis is on delivering the customer luxury holidays and memorable journeys through a network of well-travelled and experienced consultants.

REVIEW OF BUSINESS
During the year the Group received 851 bookings (2023 - 866) at an average booking value of £13,585 (2023 - £12,723) . These can be more readily compared with pre-Covid performance indicators which, in the years ended 2020 and 2019, showed bookings of 980 and 1264 respectively alongside average booking values of £8,230 and £9,739 respectively.

The group generated a gross profit of £1,839k in the year to 29th February 2024 (2023 - £1,731k). The group continues to re-invest in its research & development and marketing programs which this period amounted to £62k (2023 - £54k).

PRINCIPAL RISKS AND UNCERTAINTIES
Package Tour Operator Liability

Most of the company’s bookings are covered under the Package Travel and Linked Travel Arrangement Regulations 2018. In such cases our obligations to our customer start and finish at the departure point, most usually an airport. Any event, such as intemperate weather, industrial action or airline failure, political unrest or natural disasters impacts on our business. The Company, as the tour operator, is responsible for our bonded customers until they can be returned to their point of departure. The cost to the company was £nil (2023- £nil).

Foreign Exchange Risk

The company purchases much of its product in the foreign currencies listed in the table below. The high / low range has varied by as much as 11.74% over the course of the financial period. These sharp fluctuations can make product planning and pricing difficult although the company reviews its internal exchange rates on a weekly basis to ensure that it is both competitive in its pricing and is able to stand by the booking quotes that it has given. Once bookings are confirmed foreign exchange contracts are used to manage foreign exchange risk as soon as currency requirements are material enough to justify entering into such contracts.

Currency US Dollar Euro South African Rand

Spot rate at 29th February 2024 1.2650 1.1688 24.2724
Period High 1.1311 1.1758 24.5675
Period Low 1.1837 1.1216 21.7174
High - Low Range 0.1279 0.0542 2.8501
% of High / Low range against spot at 29th February
2024

10.11%

4.64%

11.74%

ON BEHALF OF THE BOARD:





H C Parker - Secretary


18th July 2024

Bailey Robinson Holdings Limited (Registered number: 07372928)

Report of the Directors
for the Year Ended 29th February 2024

The directors present their report with the financial statements of the company and the group for the year ended 29th February 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review is the holding of companies that specialise in the provision of overseas travel.

DIVIDENDS
No dividends will be distributed for the year ended 29th February 2024 (2023 - £nil)

DIRECTORS
The directors shown below have held office during the whole of the period from 1st March 2023 to the date of this report.

P R Clay
J W B Duncan
M R M Foster
H N Mountain
A H W V Murray
R I D Pilkington
G L Stephenson
C A L White

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the 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 (United Kingdom Accounting Standards 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 the group and of the profit or loss of the group 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 accounting estimates that are reasonable and prudent;
- 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director 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 group's auditors are aware of that information.

AUDITORS
The auditors, James Cowper Kreston Audit, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



H C Parker - Secretary


18th July 2024

Report of the Independent Auditors to the Members of
Bailey Robinson Holdings Limited

Opinion
We have audited the financial statements of Bailey Robinson Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 29th February 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and 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 group's and of the parent company affairs as at 29th February 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's and the parent 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 directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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.

Report of the Independent Auditors to the Members of
Bailey Robinson Holdings Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.

The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:

- Enquiry of management and those charged with governance around actual and potential litigation and claims;
- Enquiry of management and those charged with governance to identify any material instances of noncompliance with laws and regulations;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.

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 Report of the Auditors.

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 a Report of the Auditors 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.




Darren O’Connor BSc (Hons), FCCA, ACA (Senior Statutory Auditor)
for and on behalf of James Cowper Kreston Audit
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG19 6AB

18th July 2024

Bailey Robinson Holdings Limited (Registered number: 07372928)

Consolidated Statement of Comprehensive Income
for the Year Ended 29th February 2024

2024 2023
Notes £    £   

TURNOVER 10,530,965 11,365,624

Cost of sales 8,691,511 9,634,923
GROSS PROFIT 1,839,454 1,730,701

Administrative expenses 1,576,586 1,376,388
OPERATING PROFIT 4 262,868 354,313

Interest receivable and similar income 19,554 4,467
PROFIT BEFORE TAXATION 282,422 358,780

Tax on profit 5 33,366 3,744
PROFIT FOR THE FINANCIAL YEAR 249,056 355,036

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

249,056

355,036

Profit attributable to:
Owners of the parent 249,056 355,036

Total comprehensive income attributable to:
Owners of the parent 249,056 355,036

Bailey Robinson Holdings Limited (Registered number: 07372928)

Consolidated Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 19,763 32,249
Tangible assets 8 9,426 12,339
Investments 9 - -
29,189 44,588

CURRENT ASSETS
Debtors: amounts falling due within one year 10 4,216,388 3,334,840
Debtors: amounts falling due after more than one
year

10

91,130

46,867
Cash in hand 1,600,085 1,539,632
5,907,603 4,921,339
CREDITORS
Amounts falling due within one year 11 5,138,428 4,334,949
NET CURRENT ASSETS 769,175 586,390
TOTAL ASSETS LESS CURRENT LIABILITIES 798,364 630,978

CREDITORS
Amounts falling due after more than one year 12 (95,325 ) (176,862 )

PROVISIONS FOR LIABILITIES 15 (377 ) (510 )
NET ASSETS 702,662 453,606

CAPITAL AND RESERVES
Called up share capital 16 50,000 50,000
Share premium 17 836,560 836,560
Retained earnings 17 (183,898 ) (432,954 )
SHAREHOLDERS' FUNDS 702,662 453,606

The financial statements were approved by the Board of Directors and authorised for issue on 18th July 2024 and were signed on its behalf by:





A H W V Murray - Director


Bailey Robinson Holdings Limited (Registered number: 07372928)

Company Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 - -
Investments 9 1,242,174 1,242,174
1,242,174 1,242,174

CURRENT ASSETS
Cash in hand 100 100
NET CURRENT ASSETS 100 100
TOTAL ASSETS LESS CURRENT LIABILITIES 1,242,274 1,242,274

CAPITAL AND RESERVES
Called up share capital 16 50,000 50,000
Share premium 17 836,560 836,560
Retained earnings 17 355,714 355,714
SHAREHOLDERS' FUNDS 1,242,274 1,242,274

Company's profit for the financial year - -

The financial statements were approved by the Board of Directors and authorised for issue on 18th July 2024 and were signed on its behalf by:





A H W V Murray - Director


Bailey Robinson Holdings Limited (Registered number: 07372928)

Consolidated Statement of Changes in Equity
for the Year Ended 29th February 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1st March 2022 50,000 (787,990 ) 836,560 98,570

Changes in equity
Total comprehensive income - 355,036 - 355,036
Balance at 28th February 2023 50,000 (432,954 ) 836,560 453,606

Changes in equity
Total comprehensive income - 249,056 - 249,056
Balance at 29th February 2024 50,000 (183,898 ) 836,560 702,662

Bailey Robinson Holdings Limited (Registered number: 07372928)

Company Statement of Changes in Equity
for the Year Ended 29th February 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1st March 2022 50,000 355,714 836,560 1,242,274

Changes in equity
Balance at 28th February 2023 50,000 355,714 836,560 1,242,274

Changes in equity
Balance at 29th February 2024 50,000 355,714 836,560 1,242,274

Bailey Robinson Holdings Limited (Registered number: 07372928)

Consolidated Cash Flow Statement
for the Year Ended 29th February 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 169,189 214,378
Tax (paid) / received (5,895 ) 49,284
Net cash from operating activities 163,294 263,662

Cash flows from investing activities
Purchase of tangible fixed assets (5,728 ) (2,984 )
Interest received 19,554 4,467
Net cash from investing activities 13,826 1,483

Cash flows from financing activities
Loan repayments in year (116,667 ) (175,000 )
Net cash from financing activities (116,667 ) (175,000 )

Increase in cash and cash equivalents 60,453 90,145
Cash and cash equivalents at beginning of year 2 1,539,632 1,449,487

Cash and cash equivalents at end of year 2 1,600,085 1,539,632

Bailey Robinson Holdings Limited (Registered number: 07372928)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 29th February 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 282,422 358,780
Depreciation charges 21,128 28,913
Finance income (19,554 ) (4,467 )
283,996 383,226
(Increase)/decrease in trade and other debtors (925,812 ) 685,158
Increase/(decrease) in trade and other creditors 811,005 (854,006 )
Cash generated from operations 169,189 214,378

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 29th February 2024
29/2/24 1/3/23
£    £   
Cash and cash equivalents 1,600,085 1,539,632
Year ended 28th February 2023
28/2/23 1/3/22
£    £   
Cash and cash equivalents 1,539,632 1,449,487


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/3/23 Cash flow At 29/2/24
£    £    £   
Net cash
Cash at bank and in hand 1,539,632 60,453 1,600,085
1,539,632 60,453 1,600,085
Debt
Debts falling due after 1 year (116,667 ) 116,667 -
(116,667 ) 116,667 -
Total 1,422,965 177,120 1,600,085

Bailey Robinson Holdings Limited (Registered number: 07372928)

Notes to the Consolidated Financial Statements
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

Bailey Robinson Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.

Basis of consolidation
The financial statements consolidate the results of Bailey Robinson Holdings Limited and its two wholly owned subsidiary companies. Inter-company balances and transactions and any unrealised gains arising from inter-company transactions are eliminated in preparing the financial statements

Significant judgements and estimates
The preparation of the financial statements requires management to make estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following have had the most significant effect on amounts recognised in the financial statements:

a) Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values may vary depending on a number of factors.

b) Bad debt provisions
Provisions are estimated by the company in respect of specific debts based upon the age of the debt and knowledge of known issues.

Revenue recognition
Revenue is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

A significant amount of the Group's transactions relate to holidays which depart at a future date. In such cases the revenue relating to these transactions is recorded in deferred income and associated expenses recorded in deferred costs. Once the holiday has commenced the turnover and cost of sale is recognised by transferring the respective balances from deferred income and deferred costs.

When sales revenue is recognised but the costs relating to the sale have yet to be completed the full cost of sale is recorded with any outstanding amount accounted for within trading cost accruals in the balance sheet.

Interest income is recognised using the effective interest rate method.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Bailey Robinson Holdings Limited (Registered number: 07372928)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

2. ACCOUNTING POLICIES - continued

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.

a) Fixtures and fittings and computer equipment
Fixtures and fittings and computer equipment and are stated at cost less accumulated depreciation and accumulated impairment losses.

b) Depreciation and Residual Values
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. The estimated useful lives range as follows:

Fixtures and fittingsbetween 3 and 5 years
Computer equipmentbetween 3 and 5 years

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.

c) Subsequent additions
The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is disposed.

Repairs and maintenance are charged to administrative expenses in the period in which they are incurred.

d) Subsequent disposals
Assets which, in the opinion of the management, have come to the end of their useful lives are disposed of. Gains and losses on disposed assets are entered in the income statement and shown in the operating profit/(loss) disclosure.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Bailey Robinson Holdings Limited (Registered number: 07372928)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
The Company's functional and presentational currency is GBP.

Transactions and balances
Transactions denominated in foreign currencies are recorded at the rate ruling on the transaction date.
Monetary items denominated in foreign currencies are translated at the rate of exchange ruling at the period end date. Non-monetary items measured as historical cost are translated using the exchange rate at the date of the transaction and non-monetary items valued at fair value are measured using the exchange rate when the fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the period end revaluation of monetary items are recognised in administrative expenses in the income statement and disclosed within the operating profit note.

Hire purchase and leasing commitments
Operating leases
Payments made in respect of operating leases are charged to the profit and loss account on a straight line basis over the life of the lease.

Pension costs and other staff benefits
The company provides a range of benefits to employees, including a private healthcare scheme, paid holiday arrangements, a defined contribution pension plan and an annual bonus arrangement.

a) Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits are recognised as an expense in the period that the service is received.

b) Other monetary benefits
Other monetary benefits are recognised as an expense as they are due and healthcare benefits are recognised as an expense which is amortised over the term of the policy and any deferred expenditure is included in prepayments in the balance sheet.

c) Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension under which the company pays a fixed contribution into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense as they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

d) Bonus arrangements
The company operates a discretionary bonus arrangement for employees. An expense is recognised in the income statement when the management of the company approve the payments under the scheme.

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 non-puttable ordinary shares.

a) Cash
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.

b) 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.

c) 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.

Bailey Robinson Holdings Limited (Registered number: 07372928)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 982,074 914,630
Social security costs 100,457 95,816
Other pension costs 46,208 35,601
1,128,739 1,046,047

The average number of employees during the year was as follows:
2024 2023

Office and management 21 20

The directors are the key management personnel.

2024 2023
£    £   
Directors' remuneration 131,314 134,230
Directors' pension contributions to money purchase schemes 9,326 3,950

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Rent - other operating leases 74,653 69,113
Depreciation - owned assets 8,641 16,427
Goodwill amortisation 12,486 12,486
Auditors' remuneration 20,455 15,286
Foreign exchange differences 6,919 (247 )

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 33,499 5,895

Deferred tax (133 ) (2,151 )
Tax on profit 33,366 3,744

Bailey Robinson Holdings Limited (Registered number: 07372928)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

5. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 282,422 358,780
Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 19
%)

70,606

68,168

Effects of:
Expenses not deductible for tax purposes 4,041 2,945
Depreciation in excess of capital allowances 294 1,981
Utilisation of tax losses - (36,490 )
Movement in deferred tax (133 ) (2,151 )
Impact of marginal relief and rate change (923 ) -
Losses surrendered to/(from) group (40,519 ) (30,709 )
Total tax charge 33,366 3,744

6. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


7. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1st March 2023
and 29th February 2024 154,381
AMORTISATION
At 1st March 2023 122,132
Amortisation for year 12,486
At 29th February 2024 134,618
NET BOOK VALUE
At 29th February 2024 19,763
At 28th February 2023 32,249

Bailey Robinson Holdings Limited (Registered number: 07372928)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

8. TANGIBLE FIXED ASSETS

Group
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st March 2023 138,773 179,059 317,832
Additions - 5,728 5,728
Disposals - (23,586 ) (23,586 )
At 29th February 2024 138,773 161,201 299,974
DEPRECIATION
At 1st March 2023 138,320 167,173 305,493
Charge for year 453 8,188 8,641
Eliminated on disposal - (23,586 ) (23,586 )
At 29th February 2024 138,773 151,775 290,548
NET BOOK VALUE
At 29th February 2024 - 9,426 9,426
At 28th February 2023 453 11,886 12,339

9. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st March 2023
and 29th February 2024 1,242,174
NET BOOK VALUE
At 29th February 2024 1,242,174
At 28th February 2023 1,242,174

Bailey Robinson Holdings Limited (Registered number: 07372928)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

9. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Bailey Robinson Limited
Registered office: United Kingdom
Nature of business: Tour Operator
%
Class of shares: holding
Ordinary Shares 100.00
2024 2023
£    £   
Aggregate capital and reserves 262,657 138,840
Profit for the year 123,817 276,369

Real Holidays Travel Agency Limited
Registered office: United Kingdom
Nature of business: Travel Agent & Tour Operator
%
Class of shares: holding
Ordinary Shares 100.00
2024 2023
£    £   
Aggregate capital and reserves 420,142 282,417
Profit for the year 137,725 91,151


10. DEBTORS

Group
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 2,325,673 1,790,006
Amounts owed by group undertakings 8,305 167,102
Other debtors 21,276 17,883
VAT - 6,446
Deferred costs 1,845,629 1,336,778
Prepayments 15,505 16,625
4,216,388 3,334,840

Amounts falling due after more than one year:
Trade debtors 81,706 36,425
Deferred costs 9,424 10,442
91,130 46,867

Aggregate amounts 4,307,518 3,381,707

Bailey Robinson Holdings Limited (Registered number: 07372928)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Trade creditors 194,846 191,933
Tax 33,499 5,895
Social security and other taxes 22,579 19,659
Other creditors 9,750 9,750
Accruals 128,925 127,601
Deferred income 4,720,491 3,935,696
Trading cost accruals 28,338 44,415
5,138,428 4,334,949

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
2024 2023
£    £   
Bank loans (see note 13) - 116,667
Deferred income 95,325 60,195
95,325 176,862

13. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due between two and five years:
Bank no 2 loan 2-5 years - 116,667

RBR Group allocation of CBIL Loan

NatWest provided the company's parent with a Coronavirus Business Interruption Loan "CBIL" in December 2020. £291,667 of this loan was transferred to this company by RBR Group. The company repaid £175,000 in February 2023 and the balance was settled in April 2023. The interest on the loan was paid by RBR Group and the full details of the facility are disclosed in the group financial statements.The balance on the CBIL loan was repaid by RBR Group in September 2023.















Bailey Robinson Holdings Limited (Registered number: 07372928)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 51,895 70,225
Between one and five years 46,472 32,483
98,367 102,708

15. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 377 510

Group
Deferred
tax
£   
Balance at 1st March 2023 510
Credit to Statement of Comprehensive Income during year (133 )
Balance at 29th February 2024 377

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,000,000 Ordinary £0.01 50,000 50,000

17. RESERVES

Group
Retained Share
earnings premium Totals
£    £    £   

At 1st March 2023 (432,954 ) 836,560 403,606
Profit for the year 249,056 249,056
At 29th February 2024 (183,898 ) 836,560 652,662

Bailey Robinson Holdings Limited (Registered number: 07372928)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

17. RESERVES - continued

Company
Retained Share
earnings premium Totals
£    £    £   

At 1st March 2023 355,714 836,560 1,192,274
Profit for the year - -
At 29th February 2024 355,714 836,560 1,192,274


18. PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the scheme are held from separately to those of the Company in an independently administered fund. The charge for the year was £46,208 (2023 - £35,601). There were no amounts outstanding at the year end.

19. ULTIMATE PARENT COMPANY

RBR Group Limited is regarded by the directors as being the company's ultimate parent company.

The parent undertaking and ultimate holding company is RBR Group Limited (registration number 09952535). Copies of the group consolidated accounts can be obtained from the Company Secretary at The Courtyard, 25 High Street, Hungerford, Berkshire RG17 0NF.

20. CONTINGENT LIABILITIES

On the 3rd September 2013 at the request of ATOL, standard ATOL cross guarantees (CPG ATOL form 1301\2) were put in place between Bailey Robinson Holdings Ltd, its sister company Roxton Bailey Robinson Ltd and its subsidiaries Real Holidays Travel Agency Ltd and Bailey Robinson Ltd. This guarantee has been extended to include its ultimate parent RBR Group Ltd and its subsidiaries Ian Coley Sporting Limited and Fly Fisher Group Ltd.

21. OTHER FINANCIAL COMMITMENTS

As at the 29th February 2024, there were contractual commitments to purchase the sterling value of the following currencies:

2024 2023
£    £   

United States dollars 131,700 61,298
Euro 83,467 6,116
Canadian dollar - 6,812
New Zealand dollar - 14,147

The impact of revaluing the above contracts as at 29th February 2024 to market rates did not generate a material foreign exchange difference.

22. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.