Company registration number 03084962 (England and Wales)
BOOK-O-TEL LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
BOOK-O-TEL LIMITED
COMPANY INFORMATION
Directors
Mrs J E Scott
Mr N R J Scott
Mr S J Scott
Secretary
Mrs J E Scott
Company number
03084962
Registered office
Unit 7, Berkeley Business Park
Wainwright Road
Worcester
WR4 9FA
Auditor
Kendall Wadley LLP
Granta Lodge
71 Graham Road
Malvern
Worcestershire
WR14 2JS
BOOK-O-TEL LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Company statement of cash flows
14
Notes to the financial statements
15 - 30
BOOK-O-TEL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The directors present the strategic report for the year ended 31 March 2024.

Review of the Business

Book-O-Tel t/a arrangeMY has again demonstrated an outstanding performance during the financial year 2023-24, building on the previous year to successfully achieve all key performance indicators set for the business by its board. This review highlighted the company’s financial health, operational efficiency, and overall market positioning, showcasing a strong period of growth and profitability.

Revenue Performance

The business achieved significant revenue growth, surpassing both the budgeted targets and prior period results. The company reported a 19.6% year-over-year increase in revenue.

Future Outlook

Based on current performance, the company is well-positioned to achieve its long-term strategic objectives based around sustainable managed growth, continuing its historical investment in technology and customer experience.

On behalf of the board

Mrs J E Scott
Director
19 September 2024
BOOK-O-TEL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 March 2024.

Principal activities

The principal activity of the company and group continued to be that of a travel agency.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £1,318,714. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mrs J E Scott
Mr N R J Scott
Mr S J Scott
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
Mrs J E Scott
Director
19 September 2024
BOOK-O-TEL LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BOOK-O-TEL LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BOOK-O-TEL LIMITED
- 4 -
Opinion

We have audited the financial statements of Book-O-Tel Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and parent 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

BOOK-O-TEL LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BOOK-O-TEL LIMITED
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 auditor's 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.

Extent to which the audit was considered capable of detecting irregularities, including fraud

- an understanding of the risk assessment process (including the assessment of the risk of fraud) adopted by the Board is obtained and their attitude to risk ascertained

 

- an assessment of the susceptibility to material mis-statement of the financial statements as a result of management over-ride or fraud is made

 

- it is ensured that the engagement team have, collectively, the appropriate competence, capabilities and skills to be involved in the assignment, are fully briefed and understand the risks specific to the group

BOOK-O-TEL LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BOOK-O-TEL LIMITED
- 6 -
Audit response to risks identified

The information obtained through the assessment to risk procedures is reviewed and the following work undertaken:

 

- processes to test the outcomes of our assessment include analytical review, the relevance and accuracy of significant accounting estimates, substantive testing of significant transactions, work to identify unusual or unexpected accounting entries including the testing of journal entries, information disclosed in the financial statements is traced to supporting documentation. In all instances it is acknowledged that material mis-statements that arise from fraud may involve deliberate concealment or collusion and are, therefore, by their very nature harder to detect than those arising from error.

 

- an understanding of the legal and regulatory framework as applicable to the group is obtained together with knowledge of the procedures put in place by the group in order to comply with the same

 

It should be noted that Auditing standards limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters which we are required to address

We were appointed to audit the financial statements for the year ending 31 March 2024. This is the first year that was subject to an audit. The prior year’s figures are unaudited, whilst this would give rise to a qualification of the group profit and loss account, substantive audit work was undertaken on the balance sheet of all group companies to provide assurance on the opening balances and consequently to provide assurance on the 2024 group profit and loss account.

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 auditor's 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.

Elizabeth Needham ACA CTA (VAT) (Senior Statutory Auditor)
For and on behalf of Kendall Wadley LLP
19 September 2024
Chartered Accountants
Statutory Auditor
Granta Lodge
71 Graham Road
Malvern
Worcestershire
WR14 2JS
BOOK-O-TEL LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
2024    (Audited)
2023 (Unaudited)
Notes
£
£
Turnover
3
18,921,729
15,207,741
Cost of sales
(11,614,317)
(9,303,093)
Gross profit
7,307,412
5,904,648
Administrative expenses
(4,829,598)
(3,817,964)
Other operating income
135,050
94,822
Operating profit
4
2,612,864
2,181,506
Interest receivable and similar income
8
42,548
5,970
Interest payable and similar expenses
9
(9,875)
(15,212)
Profit before taxation
2,645,537
2,172,264
Tax on profit
10
(661,747)
(387,974)
Profit for the financial year
1,983,790
1,784,290
Profit for the financial year is attributable to:
- Owners of the parent company
1,981,314
1,782,120
- Non-controlling interests
2,476
2,170
1,983,790
1,784,290
BOOK-O-TEL LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
2024    (Audited)
2023 (Unaudited)
£
£
Profit for the year
1,983,790
1,784,290
Other comprehensive income
-
-
Total comprehensive income for the year
1,983,790
1,784,290
Total comprehensive income for the year is attributable to:
- Owners of the parent company
1,981,314
1,782,120
- Non-controlling interests
2,476
2,170
1,983,790
1,784,290
BOOK-O-TEL LIMITED
GROUP BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 9 -
2024    (Audited)
2023 (Unaudited)
Notes
£
£
£
£
Fixed assets
Tangible assets
13
142,842
95,060
Current assets
Stocks
16
638
200
Debtors
17
2,359,141
1,973,852
Cash at bank and in hand
3,366,618
3,209,786
5,726,397
5,183,838
Creditors: amounts falling due within one year
18
(4,024,688)
(3,768,955)
Net current assets
1,701,709
1,414,883
Total assets less current liabilities
1,844,551
1,509,943
Creditors: amounts falling due after more than one year
19
(83,746)
(404,214)
Net assets
1,760,805
1,105,729
Capital and reserves
Called up share capital
22
100
100
Profit and loss reserves
1,737,740
1,085,140
Equity attributable to owners of the parent company
1,737,840
1,085,240
Non-controlling interests
22,965
20,489
1,760,805
1,105,729
The financial statements were approved by the board of directors and authorised for issue on 19 September 2024 and are signed on its behalf by:
19 September 2024
Mrs J E Scott
Director
Company registration number 03084962 (England and Wales)
BOOK-O-TEL LIMITED
COMPANY BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 10 -
2024    (Audited)
2023 (Unaudited)
Notes
£
£
£
£
Fixed assets
Tangible assets
13
95,327
62,527
Investments
14
359,500
359,500
454,827
422,027
Current assets
Stocks
16
638
200
Debtors
17
1,459,990
1,059,660
Cash at bank and in hand
2,303,603
2,408,186
3,764,231
3,468,046
Creditors: amounts falling due within one year
18
(3,002,113)
(2,964,014)
Net current assets
762,118
504,032
Total assets less current liabilities
1,216,945
926,059
Creditors: amounts falling due after more than one year
19
(65,870)
(371,670)
Net assets
1,151,075
554,389
Capital and reserves
Called up share capital
22
100
100
Profit and loss reserves
1,150,975
554,289
Total equity
1,151,075
554,389

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £1,915,400 (2023 (Unaudited) - £1,741,195 profit).

The financial statements were approved by the board of directors and authorised for issue on 19 September 2024 and are signed on its behalf by:
19 September 2024
Mrs J E Scott
Director
Company registration number 03084962 (England and Wales)
BOOK-O-TEL LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
Share capital
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
Balance at 1 April 2022
100
615,734
615,834
18,319
634,153
Year ended 31 March 2023:
Profit and total comprehensive income
-
1,782,120
1,782,120
2,170
1,784,290
Dividends
11
-
(1,312,714)
(1,312,714)
-
(1,312,714)
Balance at 31 March 2023
100
1,085,140
1,085,240
20,489
1,105,729
Year ended 31 March 2024:
Profit and total comprehensive income
-
1,981,314
1,981,314
2,476
1,983,790
Dividends
11
-
(1,328,714)
(1,328,714)
-
(1,328,714)
Balance at 31 March 2024
100
1,737,740
1,737,840
22,965
1,760,805
BOOK-O-TEL LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2022
100
115,809
115,909
Year ended 31 March 2023:
Profit and total comprehensive income for the year
-
1,741,194
1,741,194
Dividends
11
-
(1,302,714)
(1,302,714)
Balance at 31 March 2023
100
554,289
554,389
Year ended 31 March 2024:
Profit and total comprehensive income
-
1,915,400
1,915,400
Dividends
11
-
(1,318,714)
(1,318,714)
Balance at 31 March 2024
100
1,150,975
1,151,075
BOOK-O-TEL LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
2024    (Audited)
2023 (Unaudited)
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
2,265,903
2,065,940
Interest paid
(9,875)
(15,212)
Income taxes paid
(387,974)
(108,074)
Net cash inflow from operating activities
1,868,054
1,942,654
Investing activities
Purchase of tangible fixed assets
(116,615)
(82,437)
Proceeds from disposal of tangible fixed assets
24,788
-
Interest received
42,548
5,970
Net cash used in investing activities
(49,279)
(76,467)
Financing activities
Repayment of bank loans
(333,229)
(125,603)
Dividends paid to equity shareholders
(1,328,714)
(1,312,714)
Net cash used in financing activities
(1,661,943)
(1,438,317)
Net increase in cash and cash equivalents
156,832
427,870
Cash and cash equivalents at beginning of year
3,209,786
2,781,916
Cash and cash equivalents at end of year
3,366,618
3,209,786
BOOK-O-TEL LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -
2024    (Audited)
2023 (Unaudited)
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
1,588,793
1,260,512
Interest paid
(9,875)
(14,903)
Income taxes paid
(332,130)
(75,167)
Net cash inflow from operating activities
1,246,788
1,170,442
Investing activities
Purchase of tangible fixed assets
(89,704)
(51,839)
Proceeds from disposal of tangible fixed assets
23,358
-
0
Interest received
42,561
5,968
Dividends received
312,500
291,250
Net cash generated from investing activities
288,715
245,379
Financing activities
Repayment of bank loans
(321,372)
(102,798)
Dividends paid to equity shareholders
(1,318,714)
(1,302,714)
Net cash used in financing activities
(1,640,086)
(1,405,512)
Net (decrease)/increase in cash and cash equivalents
(104,583)
10,309
Cash and cash equivalents at beginning of year
2,408,186
2,397,877
Cash and cash equivalents at end of year
2,303,603
2,408,186
BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 15 -
1
Accounting policies
Company information

Book-O-Tel Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 7, Berkeley Business Park, Wainwright Road, Worcester, WR4 9FA.

 

The group consists of Book-O-Tel Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Book-O-Tel Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 March 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 16 -

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

 

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

 

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.7
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 17 -

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
20 years straight line
1.8
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Fixtures and fittings
10% / 20% / 25% straight line
Computers
20% / 25% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.9
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 18 -
1.10
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.11
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.12
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 19 -
1.13
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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

BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 20 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

1.14
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.15
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 21 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.16
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.17
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.18
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

1.19
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the group’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.

BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 22 -
3
Turnover and other revenue
2024    (Audited)
2023 (Unaudited)
£
£
Other revenue
Interest income
42,548
5,970
Grants received
1,727
9,085
4
Operating profit
2024    (Audited)
2023 (Unaudited)
£
£
Operating profit for the year is stated after charging/(crediting):
Government grants
(1,727)
(9,085)
Depreciation of owned tangible fixed assets
47,379
32,544
(Profit)/loss on disposal of tangible fixed assets
(3,334)
2,088
Operating lease charges
153,739
103,139
5
Auditor's remuneration
2024    (Audited)
2023 (Unaudited)
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
2,250
-
Audit of the financial statements of the company's subsidiaries
12,500
-
14,750
-
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024    (Audited)
2023 (Unaudited)
2024    (Audited)
2023 (Unaudited)
Number
Number
Number
Number
81
83
66
58
BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
6
Employees
(Continued)
- 23 -

Their aggregate remuneration comprised:

Group
Company
2024    (Audited)
2023 (Unaudited)
2024    (Audited)
2023 (Unaudited)
£
£
£
£
Wages and salaries
3,243,243
2,447,617
2,378,003
1,847,850
Social security costs
313,282
230,932
236,930
179,160
Pension costs
255,164
169,947
241,570
158,222
3,811,689
2,848,496
2,856,503
2,185,232
7
Directors' remuneration
2024    (Audited)
2023 (Unaudited)
£
£
Remuneration for qualifying services
130,306
106,929
Company pension contributions to defined contribution schemes
180,000
120,000
310,306
226,929
8
Interest receivable and similar income
2024    (Audited)
2023 (Unaudited)
£
£
Interest income
Interest on bank deposits
42,548
5,970
2024    (Audited)
2023 (Unaudited)
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
42,548
5,970
9
Interest payable and similar expenses
2024    (Audited)
2023 (Unaudited)
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
9,875
15,212
BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 24 -
10
Taxation
2024    (Audited)
2023 (Unaudited)
£
£
Current tax
UK corporation tax on profits for the current period
661,747
387,974

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024    (Audited)
2023 (Unaudited)
£
£
Profit before taxation
2,645,537
2,172,264
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023 (Unaudited): 19.00%)
661,384
412,730
Tax effect of expenses that are not deductible in determining taxable profit
4,235
-
0
Tax effect of utilisation of tax losses not previously recognised
-
0
(1,113)
Permanent capital allowances in excess of depreciation
(4,450)
(13,914)
Research and development tax credit
-
0
(11,816)
Other permanent differences
578
2,087
Taxation charge
661,747
387,974
11
Dividends
2024    (Audited)
2023 (Unaudited)
Recognised as distributions to equity holders:
£
£
Interim paid
1,318,714
1,302,714
12
Intangible fixed assets
Group
Goodwill
Patents & licences
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
581,595
7,500
589,095
Amortisation and impairment
At 1 April 2023 and 31 March 2024
581,595
7,500
589,095
Carrying amount
At 31 March 2024
-
0
-
0
-
0
At 31 March 2023
-
0
-
0
-
0
BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12
Intangible fixed assets
(Continued)
- 25 -
Company
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
360,000
Amortisation and impairment
At 1 April 2023 and 31 March 2024
360,000
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
-
0
13
Tangible fixed assets
Group
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023
12,232
76,814
60,133
36,691
185,870
Additions
13,298
34,457
19,052
49,808
116,615
Disposals
(6,946)
(3,167)
(27,416)
(31,800)
(69,329)
At 31 March 2024
18,584
108,104
51,769
54,699
233,156
Depreciation and impairment
At 1 April 2023
8,189
29,661
33,478
19,482
90,810
Depreciation charged in the year
4,077
18,815
11,519
12,968
47,379
Eliminated in respect of disposals
(5,913)
(3,167)
(22,140)
(16,655)
(47,875)
At 31 March 2024
6,353
45,309
22,857
15,795
90,314
Carrying amount
At 31 March 2024
12,231
62,795
28,912
38,904
142,842
At 31 March 2023
4,043
47,153
26,655
17,209
95,060
BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13
Tangible fixed assets
(Continued)
- 26 -
Company
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
36,413
47,668
36,691
120,772
Additions
20,844
19,052
49,808
89,704
Disposals
(2,500)
(27,416)
(31,800)
(61,716)
At 31 March 2024
54,757
39,304
54,699
148,760
Depreciation and impairment
At 1 April 2023
10,978
27,785
19,482
58,245
Depreciation charged in the year
13,689
9,826
12,968
36,483
Eliminated in respect of disposals
(2,500)
(22,140)
(16,655)
(41,295)
At 31 March 2024
22,167
15,471
15,795
53,433
Carrying amount
At 31 March 2024
32,590
23,833
38,904
95,327
At 31 March 2023
25,435
19,883
17,209
62,527
14
Fixed asset investments
Group
Company
2024    (Audited)
2023 (Unaudited)
2024    (Audited)
2023 (Unaudited)
Notes
£
£
£
£
Investments in subsidiaries
15
359,500
359,500
359,500
359,500
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 April 2023 and 31 March 2024
359,500
Carrying amount
At 31 March 2024
359,500
At 31 March 2023
359,500
15
Subsidiaries

Details of the company's subsidiaries at 31 March 2024 are as follows:

BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15
Subsidiaries
(Continued)
- 27 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Event Express Limited
England & Wales
Ordinary share capital
91.00
Integrated Business Travel Limited
England & Wales
Ordinary share capital
100.00
16
Stocks
Group
Company
2024    (Audited)
2023 (Unaudited)
2024    (Audited)
2023 (Unaudited)
£
£
£
£
Finished goods and goods for resale
638
200
638
200
17
Debtors
Group
Company
2024    (Audited)
2023 (Unaudited)
2024    (Audited)
2023 (Unaudited)
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,996,694
1,889,800
714,381
775,392
Other debtors
299,528
37,011
711,882
257,949
Prepayments and accrued income
62,919
47,041
33,727
26,319
2,359,141
1,973,852
1,459,990
1,059,660
18
Creditors: amounts falling due within one year
Group
Company
2024    (Audited)
2023 (Unaudited)
2024    (Audited)
2023 (Unaudited)
Notes
£
£
£
£
Bank loans
20
13,742
21,971
9,360
5,732
Trade creditors
492,522
492,014
48,405
36,783
Corporation tax payable
661,747
387,974
537,851
332,130
Other taxation and social security
653,476
551,300
552,733
463,796
Other creditors
1,167,942
2,196,769
1,018,062
2,116,269
Accruals and deferred income
1,035,259
118,927
835,702
9,304
4,024,688
3,768,955
3,002,113
2,964,014
BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 28 -
19
Creditors: amounts falling due after more than one year
Group
Company
2024    (Audited)
2023 (Unaudited)
2024    (Audited)
2023 (Unaudited)
Notes
£
£
£
£
Bank loans and overdrafts
20
-
0
325,000
-
0
325,000
Other creditors
83,746
79,214
65,870
46,670
83,746
404,214
65,870
371,670
20
Loans and overdrafts
Group
Company
2024    (Audited)
2023 (Unaudited)
2024    (Audited)
2023 (Unaudited)
£
£
£
£
Bank loans
13,742
346,971
9,360
330,732
Payable within one year
13,742
21,971
9,360
5,732
Payable after one year
-
0
325,000
-
0
325,000

The long-term loans are secured by fixed charges over assets of the business. The long-term loans has been paid off in the year.

21
Retirement benefit schemes
2024    (Audited)
2023 (Unaudited)
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
255,164
169,947

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

22
Share capital
Group and company
2024    (Audited)
2023 (Unaudited)
2024    (Audited)
2023 (Unaudited)
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 50p each
200
200
100
100
BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 29 -
23
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2024    (Audited)
2023 (Unaudited)
2024    (Audited)
2023 (Unaudited)
£
£
£
£
Within one year
13,272
-
9,672
-
Between two and five years
10,125
-
5,175
-
23,397
-
14,847
-
24
Cash generated from group operations
2024    (Audited)
2023 (Unaudited)
£
£
Profit for the year after tax
1,983,790
1,784,290
Adjustments for:
Taxation charged
661,747
387,974
Finance costs
9,875
15,212
Investment income
(42,548)
(5,970)
(Gain)/loss on disposal of tangible fixed assets
(3,334)
2,088
Depreciation and impairment of tangible fixed assets
47,379
32,544
Movements in working capital:
Increase in stocks
(438)
-
Increase in debtors
(385,289)
(673,887)
(Decrease)/increase in creditors
(5,279)
523,689
Cash generated from operations
2,265,903
2,065,940
BOOK-O-TEL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 30 -
25
Cash generated from operations - company
2024    (Audited)
2023 (Unaudited)
£
£
Profit for the year after tax
1,915,400
1,741,194
Adjustments for:
Taxation charged
537,851
332,130
Finance costs
9,875
14,903
Investment income
(355,061)
(297,218)
(Gain)/loss on disposal of tangible fixed assets
(2,937)
1,609
Depreciation and impairment of tangible fixed assets
36,483
25,989
Movements in working capital:
Increase in stocks
(438)
-
Increase in debtors
(400,330)
(648,118)
(Decrease)/increase in creditors
(152,050)
90,023
Cash generated from operations
1,588,793
1,260,512
26
Analysis of changes in net funds - group
1 April 2023
Cash flows
31 March 2024
£
£
£
Cash at bank and in hand
3,209,786
156,832
3,366,618
Borrowings excluding overdrafts
(346,971)
333,229
(13,742)
2,862,815
490,061
3,352,876
27
Analysis of changes in net funds - company
1 April 2023
Cash flows
31 March 2024
£
£
£
Cash at bank and in hand
2,408,186
(104,583)
2,303,603
Borrowings excluding overdrafts
(330,732)
321,372
(9,360)
2,077,454
216,789
2,294,243
2024-03-312023-04-01falsefalseCCH SoftwareCCH Accounts Production 2024.301Mr N R J ScottMr S J ScottMr S J ScottMrs J E 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