Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false2023-07-01falseTravel agent12falsetrue 00967669 2023-07-01 2024-06-30 00967669 2022-07-01 2023-06-30 00967669 2024-06-30 00967669 2023-06-30 00967669 2022-07-01 00967669 c:Director2 2023-07-01 2024-06-30 00967669 d:CurrentFinancialInstruments 2024-06-30 00967669 d:CurrentFinancialInstruments 2023-06-30 00967669 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 00967669 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 00967669 d:ShareCapital 2023-07-01 2024-06-30 00967669 d:ShareCapital 2024-06-30 00967669 d:ShareCapital 2022-07-01 2023-06-30 00967669 d:ShareCapital 2023-06-30 00967669 d:ShareCapital 2022-07-01 00967669 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 00967669 d:RetainedEarningsAccumulatedLosses 2024-06-30 00967669 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 00967669 d:RetainedEarningsAccumulatedLosses 2023-06-30 00967669 d:RetainedEarningsAccumulatedLosses 2022-07-01 00967669 c:OrdinaryShareClass1 2023-07-01 2024-06-30 00967669 c:OrdinaryShareClass1 2024-06-30 00967669 c:OrdinaryShareClass1 2023-06-30 00967669 c:FRS102 2023-07-01 2024-06-30 00967669 c:Audited 2023-07-01 2024-06-30 00967669 c:FullAccounts 2023-07-01 2024-06-30 00967669 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00967669 c:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 00967669 2 2023-07-01 2024-06-30 00967669 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00967669









CSR TRAVEL LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
139,172
91,491

Cash at bank and in hand
 6 
441,448
407,514

  
580,620
499,005

Creditors: amounts falling due within one year
 7 
(463,822)
(121,116)

Net current assets
  
 
 
116,798
 
 
377,889

Total assets less current liabilities
  
116,798
377,889

  

Net assets
  
116,798
377,889


Capital and reserves
  

Called up share capital 
 8 
30,000
30,000

Profit and loss account
 9 
86,798
347,889

 
CSR TRAVEL LIMITED
REGISTERED NUMBER: 00967669
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024


  
116,798
377,889


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

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

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 November 2024.




E R Rom
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 1

 
CSR TRAVEL LIMITED
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2022
30,000
339,396
369,396


Comprehensive income for the year

Profit for the year
-
8,493
8,493
Total comprehensive income for the year
-
8,493
8,493



At 1 July 2023
30,000
347,889
377,889


Comprehensive income for the year

Loss for the year
-
(261,091)
(261,091)
Total comprehensive income for the year
-
(261,091)
(261,091)


At 30 June 2024
30,000
86,798
116,798


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CSR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

CSR Travel Limited is a private company limited by shares and incorporated in England under registered number 00967669. The registered office is Albert House, Bloom Street, Manchester M1 3HZ.

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.

The following principal accounting policies have been applied:

  
2.2

Going concern

The Company’s management and directors review the financial position and the forecasts for the Company on a regular basis, to ensure they are in a position to react to and mitigate the financial impact from any downturn in trading. The directors have made an assessment of the Company’s ability to continue as a going concern, and have considered a number of future scenarios, synthesizing key drivers of the Company’s trading performance, including consumer demand, post balance sheet trading, booking trajectory, and impact from both financial and geopolitical instability. However, economic uncertainty from interest rates and a new UK government means the Company remains in a volatile environment. 
The Company benefits from the continued financial support of the EFR Group.The Group has prepared budgets and cashflow forecasts to June 2026 which reflect good operational  liquidity and profitability.
As a result, and with the Company continuing to receive the full support of its Group, the directors believe that it is still appropriate to apply the going concern basis for the foreseeable future.

  
2.3

Exemption from preparing consolidated financial statements

The Company, and its Group, qualify as small and therefore under the provisions of the Companies Act 2006 section 399 the directors consider the parent company to be exempt from the requirement to prepare consolidated financial statements. These financial statements contain the results of the Company only and not those of the Group.

Page 3

 
CSR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

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

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

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

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

 

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Turnover represents the net commission earned in respect of holiday and travel arrangement sales,
recognised on the date of departure basis.
Gross Retail Turnover ("GRT") - GRT is the total gross sales amount received in respect of the sale
of the holiday and travel arrangement sales for the year. Section 23 of FRS102 requires the statutory
turnover to be the net of commission earned.
Trade debtors still represent the gross amount receivable in respect of sales of holiday accommodation and travel arrangements, and trade creditors still represent the amounts payable in respect of purchase of holiday accommodation and travel arrangements.
 

Page 4

 
CSR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

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

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

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 July 2019 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.6

Interest income

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

 
2.7

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.

 
2.8

Taxation

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 5

 
CSR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


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
2,000
2,000


4.


Employees

2024
2023
£
£

Wages and salaries
33,739
33,660

Social security costs
3,401
3,283

37,140
36,943


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


        2024
        2023
            No.
            No.







Average number of employees
1
2


5.


Debtors

2024
2023
£
£


Trade debtors
74,544
68,702

Other debtors
63,718
17,595

Prepayments and accrued income
910
5,194

139,172
91,491


Included in prepayments and accrued income is the sum of £Nil (2023 - £4,226) of supplier payments made in advance for departures post 30 June 2024.

Page 6

 
CSR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
441,448
407,514

441,448
407,514



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
42,544
49,433

Amounts owed to group undertakings
369,721
20,293

Other taxation and social security
-
1,522

Accruals and deferred income
51,557
49,868

463,822
121,116


Included in accruals and deferred income is the sum of £49,557 (2023 - £47,868) of customer monies received in advance for departures post 30 June 2024.


8.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



30,000 (2023 - 30,000) Ordinary Shares shares of £1.00 each
30,000
30,000


Each share has full voting rights in the company with respect to voting, dividends and distributions.



9.


Reserves

Profit and loss account

The profit and loss account represents the net distributable reserves of the Company at the date of the statement of financial position.

Page 7

 
CSR TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Holding company

The immediate and ultimate holding company is E.F.R. Travel Limited, a company limited by shares, incorporated in England and Wales whose registered office is situated at 2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond, TW9 2JA.


11.


Related party transactions

E.F.R. Travel Limited - E.F.R. Travel Limited holds 100% of the shares in the Company. There was an amount of £369,721 due to E.F.R. Travel Limited at the year end (2023: £20,293), included in creditors due within one year.


12.


Controlling party

The ultimate controlling party is Mr E Rom, a director of the Company, by virtue of his 50.26% ownership of the issued share capital of the holding company E.F.R. Travel Limited.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 11 November 2024 by N A Spoor FCA, FCCA (Senior Statutory Auditor) on behalf of White Hart Associates (London) Limited.

 
Page 8