Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-300false48falsefalse2023-05-0158 SC211011 2023-05-01 2024-04-30 SC211011 2022-05-01 2023-04-30 SC211011 2024-04-30 SC211011 2023-04-30 SC211011 2022-05-01 SC211011 c:Director1 2023-05-01 2024-04-30 SC211011 c:Director2 2023-05-01 2024-04-30 SC211011 c:Director3 2023-05-01 2024-04-30 SC211011 c:RegisteredOffice 2023-05-01 2024-04-30 SC211011 d:Buildings 2023-05-01 2024-04-30 SC211011 d:Buildings 2024-04-30 SC211011 d:Buildings 2023-04-30 SC211011 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC211011 d:LandBuildings 2024-04-30 SC211011 d:LandBuildings 2023-04-30 SC211011 d:PlantMachinery 2023-05-01 2024-04-30 SC211011 d:PlantMachinery 2024-04-30 SC211011 d:PlantMachinery 2023-04-30 SC211011 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC211011 d:MotorVehicles 2023-05-01 2024-04-30 SC211011 d:MotorVehicles 2024-04-30 SC211011 d:MotorVehicles 2023-04-30 SC211011 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC211011 d:FurnitureFittings 2023-05-01 2024-04-30 SC211011 d:FurnitureFittings 2024-04-30 SC211011 d:FurnitureFittings 2023-04-30 SC211011 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC211011 d:OfficeEquipment 2023-05-01 2024-04-30 SC211011 d:OfficeEquipment 2024-04-30 SC211011 d:OfficeEquipment 2023-04-30 SC211011 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC211011 d:ComputerEquipment 2023-05-01 2024-04-30 SC211011 d:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 SC211011 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC211011 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 SC211011 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 SC211011 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 SC211011 d:CurrentFinancialInstruments 2024-04-30 SC211011 d:CurrentFinancialInstruments 2023-04-30 SC211011 d:Non-currentFinancialInstruments 2024-04-30 SC211011 d:Non-currentFinancialInstruments 2023-04-30 SC211011 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 SC211011 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 SC211011 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 SC211011 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 SC211011 d:ReportableOperatingSegment1 2023-05-01 2024-04-30 SC211011 d:ReportableOperatingSegment1 2022-05-01 2023-04-30 SC211011 d:ShareCapital 2023-05-01 2024-04-30 SC211011 d:ShareCapital 2024-04-30 SC211011 d:ShareCapital 2022-05-01 2023-04-30 SC211011 d:ShareCapital 2023-04-30 SC211011 d:ShareCapital 2022-05-01 SC211011 d:SharePremium 2023-05-01 2024-04-30 SC211011 d:SharePremium 2024-04-30 SC211011 d:SharePremium 2022-05-01 2023-04-30 SC211011 d:SharePremium 2023-04-30 SC211011 d:SharePremium 2022-05-01 SC211011 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 SC211011 d:RetainedEarningsAccumulatedLosses 2024-04-30 SC211011 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 SC211011 d:RetainedEarningsAccumulatedLosses 2023-04-30 SC211011 d:RetainedEarningsAccumulatedLosses 2022-05-01 SC211011 c:OrdinaryShareClass1 2023-05-01 2024-04-30 SC211011 c:OrdinaryShareClass1 2024-04-30 SC211011 c:OrdinaryShareClass1 2023-04-30 SC211011 c:FRS102 2023-05-01 2024-04-30 SC211011 c:Audited 2023-05-01 2024-04-30 SC211011 c:FullAccounts 2023-05-01 2024-04-30 SC211011 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC211011 d:Subsidiary1 2023-05-01 2024-04-30 SC211011 d:Subsidiary1 1 2023-05-01 2024-04-30 SC211011 d:Subsidiary2 2023-05-01 2024-04-30 SC211011 d:Subsidiary2 1 2023-05-01 2024-04-30 SC211011 d:Subsidiary3 2023-05-01 2024-04-30 SC211011 d:Subsidiary3 1 2023-05-01 2024-04-30 SC211011 d:Subsidiary4 2023-05-01 2024-04-30 SC211011 d:Subsidiary4 1 2023-05-01 2024-04-30 SC211011 d:WithinOneYear 2024-04-30 SC211011 d:WithinOneYear 2023-04-30 SC211011 d:BetweenOneFiveYears 2024-04-30 SC211011 d:BetweenOneFiveYears 2023-04-30 SC211011 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 SC211011 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 SC211011 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 SC211011 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 SC211011 2 2023-05-01 2024-04-30 SC211011 6 2023-05-01 2024-04-30 SC211011 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 SC211011 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 SC211011 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 SC211011 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 SC211011 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC211011







WILDERNESS GROUP LIMITED





ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
WILDERNESS GROUP LIMITED
 
 
COMPANY INFORMATION


Directors
P Easto 
S Christie 
I McIlrath 




Registered number
SC211011



Registered office
Wilderness Scotland
Dalfaber Drive

Aviemore

Highland

Scotland

PH22 1ST




Independent auditors
White Hart Associates (London) Limited
Chartered Accountants and Statutory Auditors

2nd Floor, Nucleus House

2 Lower Mortlake Road

Richmond

TW9 2JA





 
WILDERNESS GROUP LIMITED
 

CONTENTS



Page
Strategic Report
1 - 2
Directors' Report
3 - 4
Independent Auditors' Report
5 - 8
Statement of Comprehensive Income
9
Statement of Financial Position
10 - 11
Statement of Changes in Equity
12
Analysis of Net Debt
13
Notes to the Financial Statements
14 - 34


 
WILDERNESS GROUP LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024

Introduction
 
The directors present their strategic report for the period ended 30 April 2024.

Business review
 
The Company is required by the Companies Act 2006 to set out in this report, a fair review of the business of the Company during the financial year ended 30th April 2024, the position of the Company at the end of the period and a description of the principal risks and uncertainties facing the Company. 
The Wilderness Group delivered another year of strong revenue and EBITDA growth, leveraging growing demand from international source markets, particularly the US. The Wilderness England brand continues to scale rapidly, more than doubling turnover through the period. Admission to the Virtuoso network of luxury travel agents in January 2024 supported forward booking growth to both Scotland and England through the latter part of the year and will be a catalyst for further growth in 2025 and beyond.
Management reflects positively on the full year result which provides a strong platform to scale the group further through the year ahead. Turnover increased by £1.7m to £9.9m (2023: £8.2m). Gross Profit margins increased to 36.1% from 31.2% in 2023. The Operating EBITDA result of £1.1m is a £0.4m improvement on prior year (2023: £0.7m). EBITDA as a percentage of GRT increased to 11.1%.
The Company’s asset-light operating model continues to allow the directors to react swiftly to challenges and opportunities. This model minimises supply cost exposure and allows for the rapid development of new revenue generating opportunities. The Company remains focused on delivering clients premium adventure and experiential holidays, with market demand for such travel experiences continuing to grow in attractiveness. Trading momentum continues to be strong for the Wilderness Group for both 2025 and 2026 departures.
The key performance indicators used by the directors to monitor the progress of the Company are set out below

2024
2023
£
£
Key performance indicators



Turnover

9,859,257

8,166,142

Gross profit

3,563,601

2,590,600

Gross profit as a percentage of turnover

36.14%

31.72%

Earnings before interest, taxation, depreciation and amortisation - "EBITDA"

1,093,062

701,044


Page 1

 
WILDERNESS GROUP LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024

Principal risks and uncertainties
 
The directors review the financial position of the Group on a regular basis and continue to make appropriate adjustments to forecasts. These forecasts reflect a range of assumptions for both the summer and winter activities and show that the Group has sufficient liquidity to trade in all scenarios envisaged by the directors.
The Group operates in a highly competitive market featuring innovation in the travel products and the methods by which it is marketed, as well as price pressures. The Group seeks to constantly invest in its brand to increase public awareness as well as offer a wide selection of products from a wide range of suppliers at competitive prices to maintain its market position and protect against erosion of its market share. The Group also monitors competitor activity closely. The Group is heavily reliant on the uninterrupted operation of its IT systems and website. These systems are vulnerable to power loss, fire, computer viruses and other events. Loss of these systems would impair the ability of the Group to carry on its business effectively. The Group has made arrangements to mitigate this risk. The Group has well established and close relationships with customers and suppliers and risk is spread by not placing over-reliance on any one supplier in any particular area. However, if a relationship were lost or damaged with a major supplier this could have a detrimental effect on the business. The management team meets regularly with suppliers to maintain good working relationships and to understand the supplier's financial position. 
The Group finances its operations through retained profits. The Group's exposure to interest rate fluctuations on its cash deposits are managed by using short term, fixed and floating deposits. The nature of the business exposes the Company to various commercial risks which may affect the trading performance of the Company. 
These include: 
- acts of terrorism
- epidemics 
- wars or other international uncertainty which affects air travel 
- natural disasters
- detrimental weather conditions
- changes in customer behaviour and preferences 
- increase in government taxes 
- economic climate fluctuation


This report was approved by the board on 21 August 2024 and signed on its behalf.




................................................
P Easto
Director

................................................
S Christie
Director

Page 2

 
WILDERNESS GROUP LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;

make judgments and accounting 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' Reports may differ from legislation in other jurisdictions.

Principal activity

The principal activity of the Company is that of an adventure holiday tour operator in Scotland and the rest of the British Isles. 

Results and dividends

The profit for the year, after taxation, amounted to £584,921 (2023 - £596,429).

No dividends will be distributed for the period ended 30 April 2024.

Directors

The directors who served during the year were:

P Easto 
S Christie 
I McIlrath 

Page 3

 
WILDERNESS GROUP LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024

Future developments

During 2024 and 2025 the Company will continue to operate as outlined in the principal activity note above.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

The auditorsWhite Hart Associates (London) Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 21 August 2024 and signed on its behalf.
 





................................................
P Easto
Director
................................................
S Christie
Director

Page 4

 
WILDERNESS GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILDERNESS GROUP LIMITED
 

Opinion


We have audited the financial statements of Wilderness Group Limited (the 'Company') for the year ended 30 April 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe 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 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; 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 Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.


Page 5

 
WILDERNESS GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILDERNESS GROUP LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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.


Opinion 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.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, 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.


Page 6

 
WILDERNESS GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILDERNESS GROUP LIMITED (CONTINUED)


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 an Auditors' 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:

- We exercise professional judgment and maintain professional skepticism throughout the audit;
- We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the deliberate override of internal control;
- We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control;
- We evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made;
- We assess the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business;
- We review the scope of the Company's compliance with The Package and Linked Travel Arrangements Regulations 2018 (“PTRs”) and sample test relevant documentation to assess this and the effectiveness of its control environment;
- We request and review the minutes of management meetings, and assess any matters identified not already provided for or disclosed that may materially impact the financial statements;
- We review the Company's relationships with related parties, identifying and disclosing transactions during the year and balances at year-end with such parties;
- We conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the entity to cease to continue as a going concern.
 


Page 7

 
WILDERNESS GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILDERNESS GROUP LIMITED (CONTINUED)


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 Auditors' 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 2006Our 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 Auditors' 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.





Ms N A Spoor FCA FCCA (Senior Statutory Auditor)
  
for and on behalf of
White Hart Associates (London) Limited
 
Chartered Accountants and Statutory Auditors
  
2nd Floor, Nucleus House
2 Lower Mortlake Road
Richmond
TW9 2JA

21 August 2024
Page 8

 
WILDERNESS GROUP LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024
2023
Note
£
£

  

Turnover
 4 
9,859,257
8,166,142

Cost of sales
  
(6,295,656)
(5,575,542)

Gross profit
  
3,563,601
2,590,600

Administrative expenses
  
(2,912,572)
(2,186,581)

Other operating income
 5 
28,752
129,492

Operating profit
 6 
679,781
533,511

Interest receivable and similar income
 10 
31,306
10,565

Interest payable and similar expenses
 11 
(2,678)
(36,118)

Profit before tax
  
708,409
507,958

Tax on profit
 12 
(123,488)
88,471

Profit for the financial year
  
584,921
596,429

Other comprehensive income for the year
  

Total comprehensive income for the year
  
584,921
596,429

The notes on pages 14 to 34 form part of these financial statements.

2024
2023
£
£

Earnings Before Interest, Taxation, Depreciation and Amortisation (EBITDA)


Operating (loss)/profit
679,781
533,511

Depreciation of tangible fixed assets
199,857
155,694

Amortisation of intangible fixed assets
27
1,274

Property revaluation
172,258
-

Interest income earned on operational cash
31,306
10,565

Add back: Intercompany Mark-Up
9,833
-

EBITDA
1,093,062
701,044

Page 9

 
WILDERNESS GROUP LIMITED
REGISTERED NUMBER: SC211011

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 13 
-
27

Tangible assets
 14 
1,774,809
1,629,082

Investments
 15 
73
73

  
1,774,882
1,629,182

Current assets
  

Debtors: amounts falling due after more than one year
 16 
1,488,386
-

Debtors: amounts falling due within one year
 16 
2,458,873
2,557,520

Cash at bank and in hand
 17 
3,612,892
2,801,367

  
7,560,151
5,358,887

Creditors: amounts falling due within one year
 18 
(5,385,555)
(4,196,475)

Net current assets
  
 
 
2,174,596
 
 
1,162,412

Total assets less current liabilities
  
3,949,478
2,791,594

Creditors: amounts falling due after more than one year
 19 
(922,660)
(463,137)

Provisions for liabilities
  

Deferred tax
 21 
(113,440)
-

  
 
 
(113,440)
 
 
-

Net assets
  
2,913,378
2,328,457


Capital and reserves
  

Called up share capital 
 22 
26,950
26,950

Share premium account
 23 
134,588
134,588

Profit and loss account
 23 
2,751,840
2,166,919

  
2,913,378
2,328,457


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 August 2024.



................................................
P Easto
................................................
S Christie
Director
Director
Page 10

 
WILDERNESS GROUP LIMITED
REGISTERED NUMBER: SC211011
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024


The notes on pages 14 to 34 form part of these financial statements.

Page 11

 
WILDERNESS GROUP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 May 2022
26,950
134,588
1,570,490
1,732,028


Comprehensive income for the year

Profit for the year
-
-
596,429
596,429
Total comprehensive income for the year
-
-
596,429
596,429


Total transactions with owners
-
-
-
-



At 1 May 2023
26,950
134,588
2,166,919
2,328,457


Comprehensive income for the year

Profit for the year
-
-
584,921
584,921
Total comprehensive income for the year
-
-
584,921
584,921


Total transactions with owners
-
-
-
-


At 30 April 2024
26,950
134,588
2,751,840
2,913,378


The notes on pages 14 to 34 form part of these financial statements.

Page 12

 
WILDERNESS GROUP LIMITED
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 APRIL 2024





At 1 May 2023
Cash flows
New finance leases
At 30 April 2024
£

£

£

£

Cash at bank and in hand

2,801,367

811,525

-

3,612,892

Finance leases

(311,249)

35,481

(243,982)

(519,750)


2,490,118
847,006
(243,982)
3,093,142

The notes on pages 14 to 34 form part of these financial statements.

Page 13

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

As disclosed in the Directors' Report, the principal activity of the Company in the year under review was that of an adventure holiday tour operator in Scotland and the rest of the British Isles.
The Company is a private company limited by shares, registered in Scotland. The registered office address and the principal place of business is 
Unit 3
Dalfaber Drive
Aviemore 
Highland 
Scotland 
PH22 1ST.

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 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 judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

Group management and the directors review the financial position and financial projections of the Group on a regular basis. Sensitivity analysis suggests the Group has adequate liquidity to trade through all reasonable scenarios envisaged by the directors, including the potential for a downturn in trading. The directors therefore conclude that it is appropriate to prepare the financial statements on a going concern basis.

Page 14

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

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'.

 
2.4

Turnover

Turnover, excluding value added tax, represents the value of transactions, being hotels and ancillary products in which the Company is, for these purposes, regarded as being the principal. 
When acting as principal, the lower of the booking deposit and the booking gross profit is recognised in the statement of comprehensive income at the point of booking. The remainder of the booking is recognised on a departure date basis. 
Trade debtors still represent gross amounts receivable and trade creditors still represent gross amounts payable in respect of travel and holiday arrangements.

 
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.

Page 15

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

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.

 
2.10

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.

Page 16

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 The estimated useful lives range as follows:

Development expenditure
-
20% Straight Line Basis

Page 17

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.13

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, as per the table below.

Depreciation is provided on the following basis:

Freehold property
-
1% Straight Line on buildings
Motor vehicles
-
20% Reducing Balance
Fixtures and fittings
-
20% Reducing Balance
Office equipment
-
20% Reducing Balance
Outdoor equipment
-
Long Life: 10% - 25% Reducing Balance
Outdoor equipment
-
Short Life: 20% Straight Line

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.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.15

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.

 
2.16

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.

 
2.17

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 18

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.18

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.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 19

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.19

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

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

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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


 
Page 20

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.19
Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
a) Critical judgments in applying the Company's accounting policies
The directors believe that there are no critical judgments involved in applying the Company's accounting policies that warrant disclosure.
b) Key accounting estimates and assumptions
The directors believe that there are no accounting estimates and assumptions involved in applying the Company's accounting policies that warrant disclosure.

Page 21

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Tour operator
9,859,257
8,166,142

9,859,257
8,166,142


All turnover arose within the United Kingdom.


5.


Other operating income

2024
2023
£
£

Government grants receivable
28,752
129,492

28,752
129,492



6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Research & development charged as an expense
6,130
6,862

Exchange differences
3,289
3,004

Other operating lease rentals
47,186
33,978


7.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
10,000
8,750

Page 22

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
1,553,325
1,345,918

Social security costs
146,463
126,259

Cost of defined contribution scheme
48,284
43,736

1,748,072
1,515,913


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Administration
4
4



Marketing & Sales
54
44

58
48


9.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
85,000
147,350

Company contributions to defined contribution pension schemes
3,650
7,631

88,650
154,981


During the year retirement benefits were accruing to 1 director (2023 - 2) in respect of defined contribution pension schemes.


10.


Interest receivable

2024
2023
£
£


Other interest receivable
31,306
10,565

31,306
10,565

Page 23

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


Interest payable and similar expenses

2024
2023
£
£


Finance leases and hire purchase contracts
2,678
36,118

2,678
36,118


12.


Taxation


2024
2023
£
£



Total current tax
-
-

Deferred tax


Origination and reversal of timing differences
123,488
(88,471)

Total deferred tax
123,488
(88,471)


Taxation on profit/(loss) on ordinary activities
123,488
(88,471)

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 19.5%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
708,409
507,958


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19.5%)
177,102
99,017

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
45,571
(893)

Capital allowances for year in excess of depreciation
(1,989)
(84,357)

Utilisation of tax losses
(10,266)
(13,767)

Deferred Tax Charge
123,488
(88,471)

Group relief
(210,418)
-

Total tax charge for the year
123,488
(88,471)

Page 24

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
12.Taxation (continued)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


13.


Intangible assets




Software development expenditure

£



Cost


At 1 May 2023
115,631



At 30 April 2024

115,631



Amortisation


At 1 May 2023
115,604


Charge for the year on owned assets
27



At 30 April 2024

115,631



Net book value



At 30 April 2024
-



At 30 April 2023
27



Page 25

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

14.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 May 2023
958,333
408,663
468,907
64,891
132,896


Additions
-
105,380
383,896
39,385
13,217


Disposals
-
(53,142)
-
-
-


Revaluations
(198,333)
-
-
-
-



At 30 April 2024

760,000
460,901
852,803
104,276
146,113



Depreciation


At 1 May 2023
24,544
157,460
108,244
36,381
77,979


Charge for the year on owned assets
3,431
60,080
111,143
6,430
18,773


Disposals
-
(29,106)
-
-
-


On revalued assets
(26,075)
-
-
-
-



At 30 April 2024

1,900
188,434
219,387
42,811
96,752



Net book value



At 30 April 2024
758,100
272,467
633,416
61,465
49,361



At 30 April 2023
933,789
251,203
360,663
28,510
54,917
Page 26

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

           14.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 May 2023
2,033,690


Additions
541,878


Disposals
(53,142)


Revaluations
(198,333)



At 30 April 2024

2,324,093



Depreciation


At 1 May 2023
404,608


Charge for the year on owned assets
199,857


Disposals
(29,106)


On revalued assets
(26,075)



At 30 April 2024

549,284



Net book value



At 30 April 2024
1,774,809



At 30 April 2023
1,629,082




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
758,100
933,789

758,100
933,789


Page 27

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

15.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2023
73



At 30 April 2024
73





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Principal activity

Class of shares

Holding

Wilderness Ireland Travel Limited
Unit 8A, 1-2 Northwest Business Park, Collooney, CO Sligo, Ireland
Travel agents and tour operators
Ordinary
100%
Wilderness Travel Limited
2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond, TW9 2JA
Transport provider
Ordinary
100%
Wilderness Scotland Limited
Wilderness Scotland, Dalfaber Drive, Aviemore, Highland, United Kingdom, PH22 1ST
Transport provider
Ordinary
100%
Wilderness England Limited
Underley Business Centre, Kearstwick, Kirkby Lonsdale, Cumbria, England, LA6 2DY
Dormant
Ordinary
100%

Page 28

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Subsidiary undertakings (continued)

The aggregate of the share capital and reserves as at 30 April 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Wilderness Ireland Travel Limited
635,046
240,681

Wilderness Travel Limited
(427)
(183)

Wilderness Scotland Limited
1
-

Wilderness England Limited
1
-

Page 29

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

16.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
1,488,386
-

1,488,386
-


2024
2023
£
£

Due within one year

Trade debtors
10,469
15,408

Amounts owed by group undertakings
1,517,012
1,826,300

Other debtors
227,669
51,929

Called up share capital not paid
545
545

Prepayments and accrued income
703,178
653,290

Deferred taxation
-
10,048

2,458,873
2,557,520


Included in prepayments and accrued income is the sum of £604,456 (2023: £594,539) which relates to advance supplier payments for bookings departing from 1 May 2024 onwards.


17.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,612,892
2,801,367

3,612,892
2,801,367


Page 30

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

18.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
130,001
317,518

Amounts owed to group undertakings
-
58,146

Other taxation and social security
38,094
47,254

Obligations under finance lease and hire purchase contracts
96,968
52,107

Other creditors
31,829
15,524

Accruals and deferred income
5,088,663
3,705,926

5,385,555
4,196,475


Included in accruals and deferred income is the sum of £4,685,193 (2023: £3,510,312) which relates to advance customer receipts received for bookings departing from 1 May 2024 onwards.


19.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
422,782
259,142

Accruals and deferred income
499,878
203,995

922,660
463,137


Included in accruals and deferred income is the sum of £252,879 (2023: £nil) which relates to advance customer receipts received for bookings departing from 1 May 2025 onwards.


20.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
96,968
52,107

Between 1-5 years
422,782
259,142

519,750
311,249

Page 31

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

21.


Deferred taxation




2024


£






At beginning of year
10,048


Charged to the profit or loss
(123,488)



At end of year
(113,440)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(174,652)
(226,155)

Tax losses carried forward
61,212
236,203

(113,440)
10,048

There are post April 2017 unrealised Group tax losses at 30 April 2024. The Deferred Tax asset is attributed to the Company in the Group that is anticipated to utilise the Group loss relief against its projected taxable profits for the twelve months ended 30 April 2025.


22.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



26,400 (2023 - 26,400) Ordinary Shares shares of £1.00 each
26,400
26,400

Allotted, called up and partly paid



550 (2023 - 550) Ordinary Shares shares of £1.00 each
550
550


Page 32

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

23.


Reserves

Share premium account

The share premium account represents the additional amount shareholders have paid for their issued shares that was in excess of the par value of these shares.

Profit and loss account

The profit and loss account represents all current and prior period retained profit and losses, less any dividends paid to the Company's parent.


24.


Contingent liabilities

Wilderness Group provides ABTOT with a travel bond which at 30 April 2024 amounted to £198,586 (2023 - £246,426).


25.


Pension commitments

The Company operates a defined contribution 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 £48,284 (2023 - £43,736). Contributions totalling £11,293 (2023 - £9,394) were payable to the fund at the reporting date.


26.


Commitments under operating leases

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
19,008
19,008

Later than 1 year and not later than 5 years
6,336
25,344

25,344
44,352


27.


Related party transactions

The Company has taken advantage of the exemption in Financial Reporting Standard 102, paragraph 33.1A, from the requirement to disclose transactions with group companies on the basis that consolidated financial statements are prepared by the ultimate parent company.

Page 33

 
WILDERNESS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

28.


Controlling party

The Company's immediate parent company is Active Travel Group Bidco Limited, a company registered in England and Wales. Copies of the financial statements of Active Travel Group Bidco Limited can be obtained from 2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond, TW9 2JA.
The Company's ultimate holding company is Active Travel Group Limited, a company registered in England and Wales. It has included the Company in it's group accounts, copies of which are available at its registered office 2nd Floor, Nucleus House, 2 Lower Mortlake, Richmond, TW9 2JA.
Active Travel Group Limited is controlled by Mobeus 1LP (previously Mobeus Equity Partners IV LP), a limited partnership registered in England and Wales. The registered office of Mobeus 1 LP is C/O Mobeus Equity Partners LLP, 1st Floor, 1 Babmaes Street, London, SW1Y 6HF.
In the opinion of the directors, there is no single individual who is the ultimate controlling party of Mobeus 1LP.

 
Page 34