Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truefalsefalse2023-04-01No description of principal activity149false 04009961 2023-04-01 2024-03-31 04009961 2022-04-01 2023-03-31 04009961 2024-03-31 04009961 2023-03-31 04009961 2022-04-01 04009961 1 2023-04-01 2024-03-31 04009961 d:Director1 2023-04-01 2024-03-31 04009961 c:MotorVehicles 2023-04-01 2024-03-31 04009961 c:MotorVehicles 2024-03-31 04009961 c:MotorVehicles 2023-03-31 04009961 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04009961 c:OfficeEquipment 2023-04-01 2024-03-31 04009961 c:OfficeEquipment 2024-03-31 04009961 c:OfficeEquipment 2023-03-31 04009961 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04009961 c:ComputerEquipment 2023-04-01 2024-03-31 04009961 c:ComputerEquipment 2024-03-31 04009961 c:ComputerEquipment 2023-03-31 04009961 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04009961 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04009961 c:CurrentFinancialInstruments 2024-03-31 04009961 c:CurrentFinancialInstruments 2023-03-31 04009961 c:Non-currentFinancialInstruments 2024-03-31 04009961 c:Non-currentFinancialInstruments 2023-03-31 04009961 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 04009961 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 04009961 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 04009961 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 04009961 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 04009961 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 04009961 c:ShareCapital 2024-03-31 04009961 c:ShareCapital 2023-03-31 04009961 c:CapitalRedemptionReserve 2024-03-31 04009961 c:CapitalRedemptionReserve 2023-03-31 04009961 c:RetainedEarningsAccumulatedLosses 2024-03-31 04009961 c:RetainedEarningsAccumulatedLosses 2023-03-31 04009961 c:AcceleratedTaxDepreciationDeferredTax 2024-03-31 04009961 c:AcceleratedTaxDepreciationDeferredTax 2023-03-31 04009961 c:TaxLossesCarry-forwardsDeferredTax 2024-03-31 04009961 c:TaxLossesCarry-forwardsDeferredTax 2023-03-31 04009961 d:OrdinaryShareClass1 2023-04-01 2024-03-31 04009961 d:OrdinaryShareClass1 2024-03-31 04009961 d:OrdinaryShareClass1 2023-03-31 04009961 d:FRS102 2023-04-01 2024-03-31 04009961 d:Audited 2023-04-01 2024-03-31 04009961 d:FullAccounts 2023-04-01 2024-03-31 04009961 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04009961 c:WithinOneYear 2024-03-31 04009961 c:WithinOneYear 2023-03-31 04009961 d:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04009961 2 2023-04-01 2024-03-31 04009961 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04009961









ANZCRO (UK) LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ANZCRO (UK) LIMITED
REGISTERED NUMBER: 04009961

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,995
12,036

  
9,995
12,036

Current assets
  

Debtors: amounts falling due within one year
 5 
1,378,125
1,012,347

Cash at bank and in hand
 6 
1,514,621
1,313,928

  
2,892,746
2,326,275

Creditors: amounts falling due within one year
 7 
(1,862,534)
(1,694,097)

Net current assets
  
 
 
1,030,212
 
 
632,178

Total assets less current liabilities
  
1,040,207
644,214

Creditors: amounts falling due after more than one year
 8 
(520,000)
(520,000)

  

Net assets
  
520,207
124,214


Capital and reserves
  

Called up share capital 
  
80,000
80,000

Capital redemption reserve
  
107,000
107,000

Profit and loss account
  
333,207
(62,786)

  
520,207
124,214


Page 1

 
ANZCRO (UK) LIMITED
REGISTERED NUMBER: 04009961
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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 statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 August 2024.




Owen Eagles
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
ANZCRO (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Anzcro (UK) Limited is a private company, limited by shares, incorporated in the United Kingdom, registration number 04009961. The registered office is Pool Innovation Centre, Trevenson Road, Pool, Redruth, Cornwall, TR15 3PL.

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 directors have considered the financial position of the company and ATOL renewal as described further in the directors report. Based on the forecast position for the next financial year, the anticipated renewal of the ATOL licence and the availability of financial support from the parent company, the directors consider it appropriate to prepare the accounts on a going concern basis.

 
2.3

Revenue

Turnover represents the total invoice value, excluding value added tax, of availed sales where date of travel was within the period.

 
2.4

Interest income

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

 
2.5

Borrowing costs

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

 
2.6

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 3

 
ANZCRO (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
4 years
Office equipment
-
10 years
Computer and telephone equipment
-
3 to 5 years

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

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

Page 4

 
ANZCRO (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

 
2.12

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.

 
2.13

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.

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.

Page 5

 
ANZCRO (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

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.

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.


3.


Employees

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


        2024
        2023
            No.
            No.







Administrative and operations
14
9

Page 6

 
ANZCRO (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Motor vehicles
Office equipment
Computer and telephone equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
11,797
618
6,255
18,670


Additions
-
-
1,686
1,686



At 31 March 2024

11,797
618
7,941
20,356



Depreciation


At 1 April 2023
1,475
540
4,619
6,634


Charge for the year on owned assets
2,949
78
700
3,727



At 31 March 2024

4,424
618
5,319
10,361



Net book value



At 31 March 2024
7,373
-
2,622
9,995



At 31 March 2023
10,322
78
1,636
12,036


5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
418,077
120,247

Other debtors
29,368
31,548

Prepayments and accrued income
930,197
843,600

Deferred taxation
483
16,952

1,378,125
1,012,347


Included in prepayments and accrued income above is the sum of £528,453 (2023: £476,166) which relates to advance supplier payments for bookings departing from 1 April 2024 onwards.

Page 7

 
ANZCRO (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,514,621
1,313,928

1,514,621
1,313,928



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
293,331
30,103

Corporation tax
116,072
-

Other taxation and social security
12,646
8,360

Other creditors
25,262
55,361

Accruals and deferred income
1,415,223
1,600,273

1,862,534
1,694,097


Included in accruals and deferred income above is the sum of £1,330,930 (2023: £1,150,113) which relates to advance customer receipts received for bookings departing from 1 April 2024 onwards.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Loans and borrowings
520,000
520,000

520,000
520,000


Loans and borrowings consist of a £520,000 (2023: £520,000) subordinated loan from Australia New Zealand Central Reservations Office Pty Limited (parent company). This loan cannot be repaid without the prior written consent of the Civil Aviation Authority ("CAA").

Page 8

 
ANZCRO (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


2024
2023
£
£


Amounts falling due 1-2 years

Other loans
520,000
520,000

520,000
520,000





10.


Deferred taxation




2024
2023


£

£






At beginning of year
16,952
41,084


Charged to profit or loss
(16,469)
(24,132)



At end of year
483
16,952

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
483
-

Tax losses carried forward
-
16,952

483
16,952


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



80,000 (2023 - 80,000) Ordinary shares shares of £1.00 each
80,000
80,000


Page 9

 
ANZCRO (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Prior year adjustments

The Company’s presentation of its prepayments and deferred income has been restated to agree with a policy of recognising bookings on the date of their departure, namely that these amounts should only consist of cash paid or received in advance of future departures respectively, rather than gross booking values. Therefore, the gross booking value of future departures within trade debtors has been offset against the same balances held within deferred income, with the same being done for gross booking costs within prepayments and trade creditors. This adjustment is for presentation purposes only and has no impact on the Company’s net assets or trading profits.
Also, an adjustment has been made to the brought-forward comparative figures at 1 April 2022 of £107,000 by reducing retained profits and creating a capital redemption reserve account. This is to correctly reflect the redemption of 107,000 redeemable preference shares of £1 each that took place on 24 January 2014.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £7,802 (2023: £3,942). Contributions totalling £3,575 (2023: £1,133) were payable to the fund at the reporting date and are included in creditors.


14.


Commitments under operating leases

At 31 March 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
579
469

579
469


15.


BSP Outstanding

As at 31 March 2024, the Company had £38,405 (2023: £34,778) outstanding to be paid to International Air Transport Association ("IATA") for tickets issued in March 2024.

Page 10

 
ANZCRO (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

16.


Related party transactions

The parent company, Australia New Zealand Central Reservations Office Pty Limited, prepares consolidated financial statements. The company’s registered office address is 6 Short Street, Southport QLD 4215, Australia, PO Box 1291
During the year, the Company had the following related party transactions:
Australia New Zealand Central Reservations Office Pty Limited (Parent company)
During the year, the Company purchased services through its parent company which totalled £2,812,046 (2023: £2,264,638). At the balance sheet date, the amount due to Australia New Zealand Central Reservations Office Pty Limited was £303,585 (2023: £321,111).
The parent company also owed funds to Anzcro (UK) Limited for payments towards future outstanding creditors. At the balance sheet date, the amount due from Australia New Zealand Central Reservations Office Pty Limited was £721,662 (£441,358).
The above two balances have been offset and the net balance is shown within creditors in the accounts.
Also at the balance sheet date, an amount of £520,000 (2023: £520,000) was due to Australia New Zealand Central Reservations Office Pty Limited in respect of a subordinated loan received. This loan cannot be repaid without obtaining prior written consent from Civil Aviation Authority (“CAA”) and is classified as due more than one year in the Statement of Financial Position.
Peter Guthrey (Ultimate controlling party)
Directors fees of £40,000 (2023: £20,000) were paid to Peter Guthrey during the year. As the balance sheet date, the amount due to Peter Guthrey was £Nil (2023: £Nil)


17.


Post balance sheet events

The Company joined membership of the Association of Bonded Travel Organisers Trust ("ABTOT") in May 2024.


18.


Controlling party

The immediate parent company is Australian New Zealand Central Reservation Office Pty Limited, a company incorporated in Australia. 
The ultimate parent company is Guthrey Holdings Limited, a company incorporated in New Zealand.
The ultimate controlling party is Peter Guthrey.


19.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 28 August 2024 by M S Caldicott ACA FCCA CTA (Senior Statutory Auditor) on behalf of White Hart Associates (London) Limited.

 
Page 11