REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Audited Financial Statements |
For The Year Ended 30 June 2024 |
for |
Beachcomber Tours Limited |
REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Audited Financial Statements |
For The Year Ended 30 June 2024 |
for |
Beachcomber Tours Limited |
Beachcomber Tours Limited (Registered number: 02280215) |
Contents of the Financial Statements |
For The Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Independent Auditors' Report | 5 |
Profit and Loss Account | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Cash Flow Statement | 12 |
Notes to the Cash Flow Statement | 13 |
Notes to the Financial Statements | 14 |
Beachcomber Tours Limited |
Company Information |
For The Year Ended 30 June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
276 Preston Road |
Harrow |
Middlesex |
HA3 0QA |
Beachcomber Tours Limited (Registered number: 02280215) |
Strategic Report |
For The Year Ended 30 June 2024 |
The directors present their strategic report for the year ended 30 June 2024. |
REVIEW OF BUSINESS |
The company is a tour operator with a specific focus on Mauritius, as part of the wider New Mauritius Hotels ("NMH") group. The group owns and manages eight resorts in Mauritius. Furthermore, the company has dedicated expertise in Maldives, the Seychelles and the Middle East. |
The company's turnover in 2024 decreased to £30.05 million from £31.46 million in 2023. This resulted in operating profit of £1,575,318 for the year (2023: £2,427,465). The company achieved margins of 13.19% (2023: 14.30%). |
As at the balance sheet date, the company's gross assets were £12,873,585 (2023: £11,407,008) and the net assets were £4,721,504 (2023: £4,236,797). |
Key performance indicators |
The directors continue to monitor KPIs in respect of sales, gross profit, passenger numbers, length of stay and operating cash flow of the company. |
Travel regulatory bodies |
The company holds an Air Travel Organisers' Licensing (ATOL) licence and membership of the Association of British Travel Agents (ABTA). |
PRINCIPAL RISKS AND UNCERTAINTIES |
The company faces a number of risks and uncertainties, and the directors believe that the key business risks are in respect of political and environmental from both UK and international governments. In view of these risks and uncertainties, the directors are aware that the development of the company may be affected by factors outside their control. |
Future prospects |
The directors anticipate the business environment will remain very competitive. |
ON BEHALF OF THE BOARD: |
Beachcomber Tours Limited (Registered number: 02280215) |
Report of the Directors |
For The Year Ended 30 June 2024 |
The directors present their report with the financial statements of the company for the year ended 30 June 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of tour operators. |
DIVIDENDS |
Interim dividends totalling 66.663p per share were paid on the Ordinary B £1 shares during the year. No dividends were paid on the Ordinary A £1 shares. |
The total distribution of dividends for the year ended 30 June 2024 will be £ |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report. |
Other changes in directors holding office are as follows: |
FINANCIAL INSTRUMENTS |
The company's principal financial instruments comprise of bank balances, creditors and debtors. The main purpose of these instruments is to raise working capital for the operations of the company. |
Due to the nature of the financial instruments used by the company, there is no exposure to price risk. The company's approach to managing other risks applicable to financial instruments is disclosed below: |
Liquidity Risk: The company has no borrowings. |
Currency Risk: The company regularly reviews its foreign exchange requirements and prices its products to hedge against any currency fluctuations. |
Credit Risk: The management regularly monitors the credit facilities provided to customers in order to minimise the potential loss. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the 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), 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 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. |
Beachcomber Tours Limited (Registered number: 02280215) |
Report of the Directors |
For The Year Ended 30 June 2024 |
STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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 company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
Independent Auditors' Report to the Members of |
Beachcomber Tours Limited |
Opinion |
We have audited the financial statements of Beachcomber Tours Limited (the 'company') for the year ended 30 June 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 30 June 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 UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Auditors' Report 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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Independent Auditors' Report to the Members of |
Beachcomber Tours Limited |
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 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, 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 Statement of Directors' Responsibilities set out on pages three and four, 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 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. |
Independent Auditors' Report to the Members of |
Beachcomber Tours Limited |
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. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud |
The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company. |
Our approach was as follows: |
- We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation. |
- We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. |
- We review the scope of the Company's compliance with its regulators, the Civil Aviation Authority ("CAA"), and relevant documentation to assess this and the effectiveness of its control environment. |
- Based on this understanding we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. |
As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: |
- 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 override of internal control. |
- 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 purposes of expressing an opinion on the effectiveness of the company's internal control. |
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. |
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company'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 company to cease to continue as a going concern. |
Independent Auditors' Report to the Members of |
Beachcomber Tours Limited |
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. |
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 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an 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. |
for and on behalf of |
Chartered Accountants |
Statutory Auditors |
276 Preston Road |
Harrow |
Middlesex |
HA3 0QA |
Beachcomber Tours Limited (Registered number: 02280215) |
Profit and Loss Account |
For The Year Ended 30 June 2024 |
30/6/24 | 30/6/23 |
Notes | £ | £ | £ | £ |
TURNOVER | 3 |
Cost of sales |
GROSS PROFIT |
Distribution costs |
Administrative expenses |
2,579,410 | 2,315,422 |
1,384,151 | 2,185,246 |
Other operating income | 4 |
OPERATING PROFIT | 7 |
Interest receivable and similar income |
2,006,616 | 2,633,025 |
Interest payable and similar expenses | 8 |
PROFIT BEFORE TAXATION |
Tax on profit | 9 |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Beachcomber Tours Limited (Registered number: 02280215) |
Balance Sheet |
30 June 2024 |
30/6/24 | 30/6/23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 11 |
Investments | 12 |
CURRENT ASSETS |
Debtors | 13 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 14 | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 16 | ( | ) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 17 |
Profit and loss account | 18 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Beachcomber Tours Limited (Registered number: 02280215) |
Statement of Changes in Equity |
For The Year Ended 30 June 2024 |
Called up | Profit |
share | and loss | Total |
capital | account | equity |
£ | £ | £ |
Balance at 1 July 2022 |
Changes in equity |
Dividends | - | ( | ) | ( | ) |
Total comprehensive income | - |
Balance at 30 June 2023 |
Changes in equity |
Dividends | - | ( | ) | ( | ) |
Total comprehensive income | - |
Balance at 30 June 2024 |
Beachcomber Tours Limited (Registered number: 02280215) |
Cash Flow Statement |
For The Year Ended 30 June 2024 |
30/6/24 | 30/6/23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Interest paid | ( | ) |
Tax paid | ( | ) | ( | ) |
Net cash from operating activities | ( | ) |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( | ) | ( | ) |
Interest received |
Net cash from investing activities |
Cash flows from financing activities |
Loan repayments in year | ( | ) |
Equity dividends paid | ( | ) | ( | ) |
Net cash from financing activities | ( | ) | ( | ) |
Increase/(decrease) in cash and cash equivalents | ( | ) |
Cash and cash equivalents at beginning of year | 2 | 11,357,003 |
Cash and cash equivalents at end of year | 2 | 11,246,626 | 9,820,010 |
Beachcomber Tours Limited (Registered number: 02280215) |
Notes to the Cash Flow Statement |
For The Year Ended 30 June 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
30/6/24 | 30/6/23 |
£ | £ |
Profit before taxation |
Depreciation charges |
Finance costs | - | 1,630 |
Finance income | (431,298 | ) | (205,560 | ) |
1,624,749 | 2,469,727 |
Decrease/(increase) in trade and other debtors | ( | ) |
Increase/(decrease) in trade and other creditors | ( | ) |
Cash generated from operations |
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 30 June 2024 |
30/6/24 | 1/7/23 |
£ | £ |
Cash and cash equivalents | 11,246,626 | 9,820,010 |
Year ended 30 June 2023 |
30/6/23 | 1/7/22 |
£ | £ |
Cash and cash equivalents | 9,820,010 | 11,357,003 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1/7/23 | Cash flow | At 30/6/24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 9,820,010 | 1,426,616 | 11,246,626 |
9,820,010 | 11,246,626 |
Total | 9,820,010 | 1,426,616 | 11,246,626 |
Beachcomber Tours Limited (Registered number: 02280215) |
Notes to the Financial Statements |
For The Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Beachcomber Tours Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below. |
The financial statements are presented in the company's functional currency which is Sterling (£). |
Preparation of consolidated financial statements |
The accounts present information about the company as an individual undertaking and not about its group. Group accounts are not required as the subsidiaries are dormant and immaterial to the group both individually and collectively. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. |
Revenue recognition |
Turnover from the rendering of services in respect of travel arrangements made by the company with departure dates prior to the year end and marketing services commission paid to the company by the parent company. |
All bookings with departure dates after the year end are considered as deferred income and carried forward as payments on account. |
Beachcomber Tours Limited (Registered number: 02280215) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Tangible fixed assets 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, using either a straight line or reducing balance method, as indicated above. |
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. |
Investments in subsidiaries |
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at cost less any accumulated impairment losses. Changes in fair value are included in profit and loss account. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Beachcomber Tours Limited (Registered number: 02280215) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
In preparing the financial statements of the entity, transactions in currencies other than the functional currency of the entity (foreign currencies) are recognised at the spot rate at the dates of the transactions, or at an average rate where this rate approximates the actual rate at the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not re-translated. Exchange differences are recognised in profit or loss in the period in which they arise. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Financial instruments |
Financial liabilities and equity instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all its liabilities. |
Debtors |
Debtors are measured at transaction price, less any impairment. |
The company reviews impairment of the recoverable value of debtors. When assessing impairment of debtors, management considers the factors including ageing profile and past experience of the debtors. See the Debtors note for the net carrying amount of debtors. |
Creditors |
Creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Cash and cash equivalents |
Cash and cash equivalent includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less. |
Going concern |
The company is subject to the cyclical nature of the hospitality and travel industry and is also impacted by the effect that global economic trends have on its customers. The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, which is a period of at least 12 months from the date of signing these financial statements. Therefore, the financial statements have been prepared on a going concern basis. |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by class of business is given below: |
30/6/24 | 30/6/23 |
£ | £ |
Beachcomber Tours Limited (Registered number: 02280215) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
3. | TURNOVER - continued |
An analysis of turnover by geographical market is given below: |
30/6/24 | 30/6/23 |
£ | £ |
United Kingdom |
4. | OTHER OPERATING INCOME |
30/6/24 | 30/6/23 |
£ | £ |
Sundry receipts | 16,068 | 19,827 |
Airline incentive receipts |
191,167 | 242,219 |
5. | EMPLOYEES AND DIRECTORS |
30/6/24 | 30/6/23 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
30/6/24 | 30/6/23 |
Administration | 6 | 6 |
Sales | 24 | 21 |
6. | DIRECTORS' EMOLUMENTS |
30/6/24 | 30/6/23 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
Beachcomber Tours Limited (Registered number: 02280215) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
7. | OPERATING PROFIT |
The operating profit is stated after charging: |
30/6/24 | 30/6/23 |
£ | £ |
Depreciation - owned assets |
Auditors' remuneration |
Auditors' remuneration for non audit work |
8. | INTEREST PAYABLE AND SIMILAR EXPENSES |
30/6/24 | 30/6/23 |
£ | £ |
Bank interest |
9. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
30/6/24 | 30/6/23 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax |
Tax on profit |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
30/6/24 | 30/6/23 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | ( | ) | ( | ) |
Deferred tax | 25,492 | (4,098 | ) |
Other | - | (473 | ) |
Total tax charge | 521,909 | 549,498 |
Beachcomber Tours Limited (Registered number: 02280215) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
10. | DIVIDENDS |
30/6/24 | 30/6/23 |
£ | £ |
Ordinary B shares of £1 each |
Interim |
11. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2023 |
Additions |
Disposals | ( | ) | ( | ) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
Eliminated on disposal | ( | ) | ( | ) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
12. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Beachcomber Tours Limited (Registered number: 02280215) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
12. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Direction House, 186 High Street, Guildford, England, GU1 3HW |
Nature of business: |
% |
Class of shares: | holding |
30/6/24 | 30/6/23 |
£ | £ |
Aggregate capital and reserves |
Registered office: Direction House Bakers Yard, 186 High Street, Guildford, Surrey, GU1 3HW |
Nature of business: |
% |
Class of shares: | holding |
30/6/24 | 30/6/23 |
£ | £ |
Aggregate capital and reserves |
13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
VAT | 68,358 | 73,716 |
Deferred tax asset |
Accelerated capital allowances |
Prepayments and accrued income |
The management considers that there are no impairment losses during this or the previous year. |
Beachcomber Tours Limited (Registered number: 02280215) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Payments on account |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
15. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30/6/24 | 30/6/23 |
£ | £ |
Within one year |
16. | PROVISIONS FOR LIABILITIES |
30/6/24 |
£ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 July 2023 | ( | ) |
Accelerated capital allowances | 25,492 |
Balance at 30 June 2024 |
17. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30/6/24 | 30/6/23 |
value: | £ | £ |
Ordinary A | £1 | 100 | 100 |
Ordinary B | £1 | 1,500,000 | 1,500,000 |
1,500,100 | 1,500,100 |
Beachcomber Tours Limited (Registered number: 02280215) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
17. | CALLED UP SHARE CAPITAL - continued |
The 'A' ordinary shares and the 'B' ordinary shares have the same voting rights. However, the holders of 'A' ordinary shares have no rights to dividends and on a winding up are entitled to be repaid the amount subscribed in priority to the holders of 'B' ordinary shares, but have no further right to participate in the assets of the company. |
The holders of 'B' ordinary shares are entitled to the dividends and in a winding up to the whole of the surplus assets of the company after providing for the payment to the 'A' ordinary shareholders. |
18. | RESERVES |
Profit |
and loss |
account |
£ |
At 1 July 2023 |
Profit for the year |
Dividends | ( | ) |
At 30 June 2024 |
Called-up share capital - represents the nominal value of shares that have been issued. |
Profit and loss account - includes all current and prior period retained profits and losses. |
19. | ULTIMATE PARENT COMPANY |
New Mauritius Hotels Limited |
For the year ended 30 June 2024 and 30 June 2023: |
In the opinion of the directors, the ultimate parent company is New Mauritius Hotels Limited. The registered office of the company is Beachcomber House, Botanical Garden Street, Curepipe, Mauritius. The smallest and largest group of which the company is a member and for which group consolidated financial statements are prepared is New Mauritius Hotels Limited. The group financial statements are available at the registered office at Beachcomber House, Botanical Garden Street, Curepipe, Mauritius. |
20. | CONTINGENT LIABILITIES |
As at 30 June 2024 the company's bankers have given a guarantee to ABTA Limited of £487,956 (2023: £515,769). The bank holds a charge over the company's freehold property. |
Beachcomber Tours Limited (Registered number: 02280215) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
21. | RELATED PARTY DISCLOSURES |
New Mauritius Hotels Limited, Mauritius |
(ultimate parent company) |
30/6/24 | 30/6/23 |
£ | £ |
Sales commission | 98,419 | 103,094 |
Purchases and services | 14,524,209 | 15,385,722 |
Amount due to/(from) related party at the balance sheet date | 1,120,479 | 750,084 |
Mautourco Ltd, Mauritius |
(wholly owned subsidiary of the ultimate parent company, New Mauritius Hotels Limited) |
30/6/24 | 30/6/23 |
£ | £ |
Sales commission | 16,068 | 19,827 |
Purchases and services | 386,992 | 397,704 |
Amount due to/(from) related party at the balance sheet date | 47,719 | 27,452 |
Beachcomber Hotel SA, Morocco |
(associate of the ultimate parent company, New Mauritius Hotels Limited) |
30/6/24 | 30/6/23 |
£ | £ |
Purchases and services | - | 16,603 |
Amount due to/(from) related party at the balance sheet date | - | - |
22. | DEFINED CONTRIBUTION PENSION PLANS |
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 £157,358 (2023: £122,341). The pension contributions payable at the end of the year amounted to £13,302 (2023: £10,401). |