Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-31Transport providertrue12023-11-01false1falsefalse 04176334 2023-11-01 2024-10-31 04176334 2022-11-01 2023-10-31 04176334 2024-10-31 04176334 2023-10-31 04176334 2022-11-01 04176334 1 2023-11-01 2024-10-31 04176334 1 2022-11-01 2023-10-31 04176334 d:Director1 2023-11-01 2024-10-31 04176334 e:PlantMachinery 2023-11-01 2024-10-31 04176334 e:PlantMachinery 2024-10-31 04176334 e:PlantMachinery 2023-10-31 04176334 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 04176334 e:CurrentFinancialInstruments 2024-10-31 04176334 e:CurrentFinancialInstruments 2023-10-31 04176334 e:CurrentFinancialInstruments e:WithinOneYear 2024-10-31 04176334 e:CurrentFinancialInstruments e:WithinOneYear 2023-10-31 04176334 e:ShareCapital 2023-11-01 2024-10-31 04176334 e:ShareCapital 2024-10-31 04176334 e:ShareCapital 2022-11-01 2023-10-31 04176334 e:ShareCapital 2023-10-31 04176334 e:ShareCapital 2022-11-01 04176334 e:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 04176334 e:RetainedEarningsAccumulatedLosses 2024-10-31 04176334 e:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 04176334 e:RetainedEarningsAccumulatedLosses 2023-10-31 04176334 e:RetainedEarningsAccumulatedLosses 2022-11-01 04176334 d:OrdinaryShareClass1 2023-11-01 2024-10-31 04176334 d:OrdinaryShareClass1 2024-10-31 04176334 d:OrdinaryShareClass1 2023-10-31 04176334 d:OrdinaryShareClass2 2023-11-01 2024-10-31 04176334 d:OrdinaryShareClass2 2024-10-31 04176334 d:OrdinaryShareClass2 2023-10-31 04176334 d:FRS102 2023-11-01 2024-10-31 04176334 d:Audited 2023-11-01 2024-10-31 04176334 d:FullAccounts 2023-11-01 2024-10-31 04176334 d:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04176334 d:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 04176334 2 2023-11-01 2024-10-31 04176334 f:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04176334









IAG BROKING LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
IAG BROKING LIMITED
REGISTERED NUMBER: 04176334

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,302
1,607

  
1,302
1,607

Current assets
  

Debtors: amounts falling due within one year
 5 
501,552
1,000,071

Cash at bank and in hand
 6 
410,893
443,995

  
912,445
1,444,066

Creditors: amounts falling due within one year
 7 
(698,557)
(1,228,984)

Net current assets
  
 
 
213,888
 
 
215,082

Total assets less current liabilities
  
215,190
216,689

  

Net assets
  
215,190
216,689


Capital and reserves
  

Called up share capital 
 8 
1,100
1,100

Profit and loss account
 9 
214,090
215,589

  
215,190
216,689


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

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

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

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 January 2025.




T D Davey
Director

The notes on pages 5 to 11 form part of these financial statements.

Page 1

 
IAG BROKING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2023
1,100
215,589
216,689


Comprehensive income for the year

Loss for the year
-
(1,499)
(1,499)
Total comprehensive income for the year
-
(1,499)
(1,499)


At 31 October 2024
1,100
214,090
215,190


The notes on pages 5 to 11 form part of these financial statements.

Page 2

 
IAG BROKING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2022
1,100
61,383
62,483


Comprehensive income for the year

Profit for the year
-
154,206
154,206
Total comprehensive income for the year
-
154,206
154,206


At 31 October 2023
1,100
215,589
216,689


The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
IAG BROKING LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
£
£

Cash flows from operating activities

(Loss)/profit for the financial year
(1,499)
154,206

Adjustments for:

Depreciation of tangible assets
1,053
804

Interest received
(2,522)
-

Decrease/(increase) in debtors
498,518
(404,246)

Decrease in amounts owed by groups
-
5,497

(Decrease)/increase in creditors
(418,973)
322,875

(Decrease)/increase in amounts owed to groups
(111,454)
80,711

Net cash generated from operating activities

(34,877)
159,847


Cash flows from investing activities

Purchase of tangible fixed assets
(747)
(2,411)

Interest received
2,522
-

Net cash from investing activities

1,775
(2,411)


Net (decrease)/increase in cash and cash equivalents
(33,102)
157,436

Cash and cash equivalents at beginning of year
443,995
286,559

Cash and cash equivalents at the end of year
410,893
443,995


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
410,893
443,995

410,893
443,995


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
IAG BROKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

IAG Broking Limited is a private company limited by shares and incorporated in England under registered number 04176334. Its registered office is: Bolney Place, Cowfold Road, Bolney West Sussex RH17 5QT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company’s management and directors review the financial position and the forecasts for the Company on a regular basis, to ensure they are in a position to react to and mitigate the financial impact from any downturn in trading. The directors have made an assessment of the Company’s ability to continue as a going concern, and have considered a number of future scenarios,synthesizing key drivers of the Company’s trading performance, including consumer demand, post balance sheet trading, booking trajectory, and impact from both financial and geopolitical instability. However, economic uncertainty from interest rates and a new UK government means the Company remains in a volatile environment.
The directors have prepared budgets and cashflow forecasts to April 2026 which reflect good operational liquidity and profitability throughout. Additionally, they have also performed a sensitivity analysis on the Company's budgets and forecasts to assess the financial impact of any potential further slowdown in trading from the reforecast and its impact on the liquidity of the business. This sensitivity analysis shows that the Company has enough liquidity and cash to trade through a further slowdown.
Company management and the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being at least the following 12 months from the signing of these financial statements.
As a result, and with the Company continuing to receive the full support of its shareholders, the directors believe that it is still appropriate to apply the going concern basis for the foreseeable future.

Page 5

 
IAG BROKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

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

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

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

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

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover is the amount derived from ordinary activities and represents the aggregate revenue receivable from flights departed during the year.

 
2.5

Interest income

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

 
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 6

 
IAG BROKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.9

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.


3.


Employees

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


        2024
        2023
            No.
            No.







Average number of employees
1
1

Page 7

 
IAG BROKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 November 2023
2,411


Additions
747



At 31 October 2024

3,158



Depreciation


At 1 November 2023
804


Charge for the year on owned assets
1,052



At 31 October 2024

1,856



Net book value



At 31 October 2024
1,302



At 31 October 2023
1,607

Page 8

 
IAG BROKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
42,362
387,918

Other debtors
174,455
171,699

Prepayments and accrued income
284,735
440,454

501,552
1,000,071


Included in prepayments and accrued income is the sum of £284,535 (2023 - £430,799) of supplier payments made in advance for departures post 31 October 2024.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
410,893
443,995

410,893
443,995



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
225,756
246,450

Amounts owed to group undertakings
4,370
115,824

Other creditors
104,308
94,464

Accruals and deferred income
364,123
772,246

698,557
1,228,984


Included in accruals and deferred income is the sum of £358,123 (2023- £411,750) of customer monies received in advance for departures post 31 October 2024.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares shares of £1.00 each
1,000
1,000
100 (2023 - 100) B Ordinary shares shares of £1.00 each
100
100
Page 9

 
IAG BROKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.Share capital (continued)


1,100

1,100



9.


Reserves

Profit and loss account

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


10.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension charge represents contributions payable by the Company to the fund and amounted to £1,319 (2023: £1,313).


11.


Related party transactions

The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other wholly owned subsidiaries within the group. This is because the ultimate parent company prepares consolidated financial statements in which these transactions are eliminated in full.
Rookfield Financial Services Limited - A company where T D Davey a director is also a director and a shareholder. Amount owed by the related party £166,646 (2023: £166,646), included in debtors due within one year.


12.


Ultimate and immediate holding company

The Company's immediate holding company is Independent Aviation Group Limited, registered in England and Wales under company 02535246 with its registered office is at: Bolney Place, Cowfold Road, Bolney, West Sussex RH17 5QT.
The Company's ultimate holding company is IAG Holdings Limited. IAG Holdings Limited, registered in England and Wales under company number 03646321 with its registered office at Bolney Place, Cowfold Road, Bolney, West Sussex RH17 5QT.


13.


Controlling party

The directors considers that the ultimate controlling party is Ms T D Davey by virtue of her controlling interest in the parent undertaking IAG Holdings Limited.

Page 10

 
IAG BROKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

14.


Auditors' information

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

The audit report was signed on 20 January 2025 by Ms N A Spoor FCA FCCA (Senior Statutory Auditor) on behalf of White Hart Associates ( London) Limited.

 
Page 11