Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30true102023-07-01falseTour operator activities8falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03528112 2023-07-01 2024-06-30 03528112 2022-07-01 2023-06-30 03528112 2024-06-30 03528112 2023-06-30 03528112 c:Director2 2023-07-01 2024-06-30 03528112 d:FurnitureFittings 2023-07-01 2024-06-30 03528112 d:OfficeEquipment 2024-06-30 03528112 d:OfficeEquipment 2023-06-30 03528112 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03528112 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 03528112 d:ComputerSoftware 2024-06-30 03528112 d:ComputerSoftware 2023-06-30 03528112 d:CurrentFinancialInstruments 2024-06-30 03528112 d:CurrentFinancialInstruments 2023-06-30 03528112 d:Non-currentFinancialInstruments 2024-06-30 03528112 d:Non-currentFinancialInstruments 2023-06-30 03528112 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 03528112 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 03528112 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 03528112 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 03528112 d:ShareCapital 2024-06-30 03528112 d:ShareCapital 2023-06-30 03528112 d:RetainedEarningsAccumulatedLosses 2024-06-30 03528112 d:RetainedEarningsAccumulatedLosses 2023-06-30 03528112 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 03528112 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 03528112 c:FRS102 2023-07-01 2024-06-30 03528112 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03528112 c:FullAccounts 2023-07-01 2024-06-30 03528112 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03528112 d:WithinOneYear 2024-06-30 03528112 d:WithinOneYear 2023-06-30 03528112 d:BetweenOneFiveYears 2024-06-30 03528112 d:BetweenOneFiveYears 2023-06-30 03528112 2 2023-07-01 2024-06-30 03528112 d:ComputerSoftware d:OwnedIntangibleAssets 2023-07-01 2024-06-30 03528112 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 03528112


SWEET CHARIOT LEISURE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2024

 
SWEET CHARIOT LEISURE LIMITED
REGISTERED NUMBER: 03528112

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
526

Tangible assets
 5 
6,969
9,356

  
6,969
9,882

Current assets
  

Stocks
 6 
400
400

Debtors: amounts falling due within one year
 7 
605,148
878,046

Cash at bank and in hand
 8 
990,235
739,928

  
1,595,783
1,618,374

Creditors: amounts falling due within one year
 9 
(1,557,534)
(1,550,938)

Net current assets
  
 
 
38,249
 
 
67,436

Total assets less current liabilities
  
45,218
77,318

Creditors: amounts falling due after more than one year
 10 
(20,000)
(75,100)

Provisions for liabilities
  

Deferred tax
  
(983)
-

  
 
 
(983)
 
 
-

Net assets
  
24,235
2,218


Capital and reserves
  

Called up share capital 
  
30,000
30,000

Profit and loss account
  
(5,765)
(27,782)

  
24,235
2,218


Page 1

 
SWEET CHARIOT LEISURE LIMITED
REGISTERED NUMBER: 03528112
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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 24 January 2025.




J Kennedy
Director

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

Page 2

 
SWEET CHARIOT LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company is a private company limited by shares incorporated in England and Wales. The registered
office address is The Pavilion, 58a The Street, Ashtead, KT21 1AW.
The company's principal activity during the year continued to be that of travel agents.

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.

  
2.2

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 includes revenue earned from the sale of travel arrangements provided to customers recognised on a date of departure basis, together with a proportion of the total non refundable customer deposits received for future departures related to margin.

 
2.3

Going concern

The current and future financial position of the Company, its cash flows and liquidity position have been reviewed by the directors. These have been prepared with a very prudent view on the likely gradual recovery in each of the Company's operating locations and have been stress tested to ensure that cash flows and liquidity are sufficiently robust to allow the Company to continue to trade during this period.
The directors consider it appropriate to prepare the financial statements on a going concern basis.

  
2.4

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.

Page 3

 
SWEET CHARIOT LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

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.

 
2.7

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.

  
2.8

Advanced receipts and payments

All revenue relating to tours with departure dates after the year end are treated as advance receipts at the balance sheet date and separately disclosed within accruals and deferred income. Payments made to suppliers in respect of these tours are included within prepayments. 

  
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Development expenditure
-
20%

Page 4

 
SWEET CHARIOT LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%

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.

  
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

 
2.13

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.

 
2.14

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.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
SWEET CHARIOT LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.16

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.


3.


Employees

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


        2024
        2023
            No.
            No.







Employees
10
8

Page 6

 
SWEET CHARIOT LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Development expenditure

£



Cost


At 1 July 2023
24,102



At 30 June 2024

24,102



Amortisation


At 1 July 2023
23,576


Charge for the year on owned assets
526



At 30 June 2024

24,102



Net book value



At 30 June 2024
-



At 30 June 2023
526



Page 7

 
SWEET CHARIOT LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 July 2023
56,537



At 30 June 2024

56,537



Depreciation


At 1 July 2023
47,181


Charge for the year on owned assets
2,387



At 30 June 2024

49,568



Net book value



At 30 June 2024
6,969



At 30 June 2023
9,356


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
400
400

400
400


Page 8

 
SWEET CHARIOT LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Debtors

2024
2023
£
£


Trade debtors
5,301
6,000

Other debtors
52,243
98,485

Prepayments and accrued income
547,604
773,561

605,148
878,046


Included in prepayments and accrued income is the sum of £547,604 (2023: £772,445) which relates to
payments on account made to suppliers for bookings with departure dates from 1 July 2024 onwards.


8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
990,235
739,928

990,235
739,928



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
78,440
33,993

Other taxation and social security
8,554
7,723

Other creditors
2,916
15,252

Accruals and deferred income
1,467,624
1,493,970

1,557,534
1,550,938


Included in accruals and deferred income above is the sum of £1,458,624 (2023: £1,485,170) which relates to customers deposits received in advance for bookings with departure dates from 1 July 2024 onwards.

Page 9

 
SWEET CHARIOT LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
20,000
20,000

Accruals and deferred income
-
55,100

20,000
75,100


Included in accruals and deferred income above is the sum of £Nil (2023: £55,100) which relates to customers deposits received in advance for bookings with departure dates from 1 July 2024 onwards.
Other creditors represents a directors loan account of £20,000, which has been subordinated by the CAA.


11.


Deferred taxation




2024


£






Charged to profit or loss
(983)



At end of year
(983)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(983)
-

(983)
-


12.


Contingent liabilities

The Company currently holds an Air Travel Organisers' License ('ATOL') issued by the Civil Aviation Authority ('CAA'), and is also a member of the Association of British Travel Agents Limited ('ABTA').
In order to offer air inclusive package holidays, the group requires the annual renewal by the CAA of its ATOL license. The CAA awards this on the basis of meeting agreed financial citeria and renews this in March(effective April) each year. The group has complied with the requirments agreed with the CAA during the years presented in these financial statements and subsequent to 30 June 2024. The directors see no reason why the ATOL license wil not be renewed in March 2025.
As at 30th June 2024, there were contingent liabilities given by the Company in the normal course of business to insurance obligors in respect of ABTOT bonds amounting to £20,000 (2023: £20,000).
 

Page 10

 
SWEET CHARIOT LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 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 the fund and amounted to £8,284 (2023: £6,713). Contributions totalling £778 (2023: £1,446) were payable to the fund at the reporting date.


14.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
14,000
14,000

Later than 1 year and not later than 5 years
19,833
33,833

33,833
47,833


15.


Transactions with directors

During the year, the company advanced to James Kennedy, a director of the company amounting to £41,806 (2023: £Nil). Repayments amounting to £41,703 (2023: £8,577 ) were made to the company.
As at balance sheet date the amount owed by the director to the company was £3,564 (2023: £3,460).


16.


Controlling party

The ultimate controlling party of the company is Mr James Kennedy, a director, by virtue of his shareholding.

 
Page 11