Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false2023-05-01Tour provider for Carribean holidays67falsetrue 03787555 2023-05-01 2024-04-30 03787555 2022-05-01 2023-04-30 03787555 2024-04-30 03787555 2023-04-30 03787555 c:Director2 2023-05-01 2024-04-30 03787555 d:Buildings 2023-05-01 2024-04-30 03787555 d:Buildings 2024-04-30 03787555 d:Buildings 2023-04-30 03787555 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03787555 d:FurnitureFittings 2023-05-01 2024-04-30 03787555 d:FurnitureFittings 2024-04-30 03787555 d:FurnitureFittings 2023-04-30 03787555 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03787555 d:OfficeEquipment 2023-05-01 2024-04-30 03787555 d:OfficeEquipment 2024-04-30 03787555 d:OfficeEquipment 2023-04-30 03787555 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03787555 d:ComputerEquipment 2023-05-01 2024-04-30 03787555 d:ComputerEquipment 2024-04-30 03787555 d:ComputerEquipment 2023-04-30 03787555 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03787555 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03787555 d:FreeholdInvestmentProperty 2024-04-30 03787555 d:FreeholdInvestmentProperty 2023-04-30 03787555 d:FreeholdInvestmentProperty 2 2023-05-01 2024-04-30 03787555 d:CurrentFinancialInstruments 2024-04-30 03787555 d:CurrentFinancialInstruments 2023-04-30 03787555 d:Non-currentFinancialInstruments 2024-04-30 03787555 d:Non-currentFinancialInstruments 2023-04-30 03787555 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 03787555 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 03787555 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 03787555 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 03787555 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 03787555 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 03787555 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 03787555 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 03787555 d:ShareCapital 2024-04-30 03787555 d:ShareCapital 2023-04-30 03787555 d:InvestmentPropertiesRevaluationReserve 2023-05-01 2024-04-30 03787555 d:InvestmentPropertiesRevaluationReserve 2024-04-30 03787555 d:InvestmentPropertiesRevaluationReserve 2023-04-30 03787555 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 03787555 d:RetainedEarningsAccumulatedLosses 2024-04-30 03787555 d:RetainedEarningsAccumulatedLosses 2023-04-30 03787555 c:OrdinaryShareClass1 2023-05-01 2024-04-30 03787555 c:OrdinaryShareClass1 2024-04-30 03787555 c:OrdinaryShareClass1 2023-04-30 03787555 c:FRS102 2023-05-01 2024-04-30 03787555 c:Audited 2023-05-01 2024-04-30 03787555 c:FullAccounts 2023-05-01 2024-04-30 03787555 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03787555 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-01 2024-04-30 03787555 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-04-30 03787555 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-30 03787555 c:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03787555 2 2023-05-01 2024-04-30 03787555 5 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 03787555










CLUB CARIBBEE LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
CLUB CARIBBEE LIMITED
REGISTERED NUMBER: 03787555

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
685,115
956,212

Investment property
 5 
1,452,637
1,322,023

  
2,137,752
2,278,235

Current assets
  

Debtors: amounts falling due within one year
 6 
392,265
558,601

Cash at bank and in hand
 7 
840,562
1,169,597

  
1,232,827
1,728,198

Creditors: amounts falling due within one year
 8 
(1,193,005)
(1,697,614)

Net current assets
  
 
 
39,822
 
 
30,584

Total assets less current liabilities
  
2,177,574
2,308,819

Creditors: amounts falling due after more than one year
 9 
(871,083)
(998,164)

Provisions for liabilities
  

Deferred tax
  
(7,194)
(6,335)

  
 
 
(7,194)
 
 
(6,335)

Net assets
  
1,299,297
1,304,320


Capital and reserves
  

Called up share capital 
 11 
50,000
50,000

Property reserve
 12 
-
37,500

Profit and loss account
 12 
1,249,297
1,216,820

  
1,299,297
1,304,320


Page 1

 
CLUB CARIBBEE LIMITED
REGISTERED NUMBER: 03787555
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 21 August 2024.




R Aidat-Sarran
Director

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

Page 2

 
CLUB CARIBBEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Club Caribbee Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is given in the company information of these financial statements. The principal activity of the company is that of a tour operator.

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 Section 1A of 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

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.

 
2.3

Revenue

Turnover is recognised on a departure date basis for sales of flights and flight packages to customers, net of VAT. Cancellation income is recognised at the date of cancellation.

  
2.4

Advance receipts and payments

All revenue relating to bookings with departure dates after the financial year end are treated as advance receipts as at the balance sheet date and are separately disclosed under other accruals and deferred income. Payments made to suppliers in respect of future departures are treated as advance payments and are separately disclosed under other prepayments and accrued income.

Page 3

 
CLUB CARIBBEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 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.

 
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

Interest income

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

 
2.8

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.

 
2.9

Borrowing costs

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

 
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 4

 
CLUB CARIBBEE 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

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 and on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Fixtures and fittings
-
15%
reducing balance
Office equipment
-
15%
reducing balance
Computer equipment
-
25%
reducing balance

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 5

 
CLUB CARIBBEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.13

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.14

Investment property

Investment property is carried at fair value. This was determined in July 2024 by external valuers and then will be reviewed by directors on an annual basis. The value is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. 
Changes in fair value are recognised in the Statement of comprehensive income.

 
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.

 
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 6

 
CLUB CARIBBEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.19

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 7).


4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
913,777
49,043
4,096
93,736
1,060,652


Additions
-
-
-
873
873


Revaluations
(252,414)
-
-
-
(252,414)



At 30 April 2024

661,363
49,043
4,096
94,609
809,111



Depreciation


At 1 May 2023
-
8,226
2,478
93,736
104,440


Charge for the year on owned assets
13,227
6,122
207
-
19,556



At 30 April 2024

13,227
14,348
2,685
93,736
123,996



Net book value



At 30 April 2024
648,136
34,695
1,411
873
685,115



At 30 April 2023
913,777
40,817
1,618
-
956,212

Page 7

 
CLUB CARIBBEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
1,322,023


Surplus on revaluation
130,614



At 30 April 2024
1,452,637

The 2024 valuations were made by Aston James Associates Chartered Surveyors, on an open market value for existing use basis.





6.


Debtors

2024
2023
£
£


Other debtors
4,161
-

Prepayments and accrued income
388,104
558,601

392,265
558,601


Prepayments and accrued income includes advanced payments to suppliers for departures after the balance sheet date amounting to £380,150 (2023: £555,225).


7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
840,562
1,169,597

840,562
1,169,597


Page 8

 
CLUB CARIBBEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
137,185
137,185

Trade creditors
146,245
371,741

Corporation tax
58,524
7,111

Other taxation and social security
2,113
5,315

Other creditors
1,901
2,843

Accruals and deferred income
847,037
1,173,419

1,193,005
1,697,614


Accruals and deferred income includes customer monies held on account for holidays departing after hte year end, the total of which amounts to £832,918 (2023: £1,163,575).
The bank overdraft is secured by a debenture over the asset of the company.
Barclays Bank PLC has a legal fixed and floating charge over the undertaking and all present and future assets, containing a negative pledge.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
764,564
851,710

Other creditors
106,519
146,454

871,083
998,164


Page 9

 
CLUB CARIBBEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
137,185
137,185


137,185
137,185

Amounts falling due 1-2 years

Bank loans
137,185
137,185


137,185
137,185

Amounts falling due 2-5 years

Bank loans
627,379
714,525


627,379
714,525


901,749
988,895



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50,000 (2023 - 50,000) £1 ordinary shares shares of £1.00 each
50,000
50,000



12.


Reserves

Property revaluation reserve

Comprises revaluation gains on investment properties.

Profit and loss account

Profit and loss includes all current and prior year retained profit.

Page 10

 
CLUB CARIBBEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

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 fund and amounted to £3,763 (2023: £1,891). Contributions totalling £602 (2023: £376) were payable to the fund at the reporting date.


14.


Related party transactions

During the year the company had a loan account with a director. At the year end the company owed the director £74,211 (2023: £84,146). Repayments in the year totalled £79 (2023: £Nil). Advances totalled £10,015 (2023: £Nil) in the year.
During the year the company had a loan account with another director. At the year end the company owed the director £32,308 (2023: £62,308). Repayments in the year totalled £Nil (2023: £Nil). Advances totalled £30,000 (2023: £Nil) in the year.


15.


Controlling party

The company is controlled by the directors, who are equal shareholders.


16.


Auditors' information

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

The audit report was signed on 21 August 2024 by Ian Palmer FCA (Senior Statutory Auditor) on behalf of Xeinadin Audit Limited.

 
Page 11