Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01falsethe selling of ski package trips1316falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02984127 2023-05-01 2024-04-30 02984127 2022-05-01 2023-04-30 02984127 2024-04-30 02984127 2023-04-30 02984127 c:Director3 2023-05-01 2024-04-30 02984127 d:PlantMachinery 2023-05-01 2024-04-30 02984127 d:PlantMachinery 2024-04-30 02984127 d:PlantMachinery 2023-04-30 02984127 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02984127 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 02984127 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 02984127 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 02984127 d:CurrentFinancialInstruments 2024-04-30 02984127 d:CurrentFinancialInstruments 2023-04-30 02984127 d:Non-currentFinancialInstruments 2024-04-30 02984127 d:Non-currentFinancialInstruments 2023-04-30 02984127 d:Non-currentFinancialInstruments 1 2024-04-30 02984127 d:Non-currentFinancialInstruments 1 2023-04-30 02984127 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 02984127 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02984127 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 02984127 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 02984127 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 02984127 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 02984127 d:ShareCapital 2024-04-30 02984127 d:ShareCapital 2023-04-30 02984127 d:RetainedEarningsAccumulatedLosses 2024-04-30 02984127 d:RetainedEarningsAccumulatedLosses 2023-04-30 02984127 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 02984127 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 02984127 c:OrdinaryShareClass1 2023-05-01 2024-04-30 02984127 c:OrdinaryShareClass1 2023-04-30 02984127 c:OrdinaryShareClass2 2023-05-01 2024-04-30 02984127 c:OrdinaryShareClass2 2023-04-30 02984127 c:OrdinaryShareClass3 2023-05-01 2024-04-30 02984127 c:OrdinaryShareClass3 2023-04-30 02984127 c:OrdinaryShareClass4 2023-05-01 2024-04-30 02984127 c:OrdinaryShareClass4 2023-04-30 02984127 c:OrdinaryShareClass5 2023-05-01 2024-04-30 02984127 c:OrdinaryShareClass5 2024-04-30 02984127 c:PreferenceShareClass1 2023-05-01 2024-04-30 02984127 c:PreferenceShareClass1 2023-04-30 02984127 c:FRS102 2023-05-01 2024-04-30 02984127 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 02984127 c:FullAccounts 2023-05-01 2024-04-30 02984127 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02984127 d:Subsidiary1 2023-05-01 2024-04-30 02984127 d:Subsidiary1 1 2023-05-01 2024-04-30 02984127 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2023-05-01 2024-04-30 02984127 2 2023-05-01 2024-04-30 02984127 4 2023-05-01 2024-04-30 02984127 6 2023-05-01 2024-04-30 02984127 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 02984127










WASTELAND SKI LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
WASTELAND SKI LIMITED
REGISTERED NUMBER: 02984127

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
80,598

Tangible assets
 5 
24,054
73,085

Investments
 6 
1
1

  
24,055
153,684

Current assets
  

Debtors: amounts falling due within one year
 7 
449,042
716,580

Cash at bank and in hand
  
3,090,361
1,180,642

  
3,539,403
1,897,222

Creditors: amounts falling due within one year
 8 
(3,576,359)
(1,405,938)

Net current (liabilities)/assets
  
 
 
(36,956)
 
 
491,284

Total assets less current liabilities
  
(12,901)
644,968

Creditors: amounts falling due after more than one year
 9 
(31,250)
(166,163)

Provisions for liabilities
  

Deferred tax
  
(24,492)
-

  
 
 
(24,492)
 
 
-

Net (liabilities)/assets
  
(68,643)
478,805


Capital and reserves
  

Called up share capital 
 12 
48,410
51,500

Profit and loss account
  
(117,053)
427,305

  
(68,643)
478,805


Page 1

 
WASTELAND SKI LIMITED
REGISTERED NUMBER: 02984127
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 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 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 by: 




R J Wood
Director

Date: 29 October 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
WASTELAND SKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Wasteland Ski Limited is a private company limited by shares incorporated in England and Wales, United Kingdom.
The address of the registered office is 8th Floor, Becket House, 36 Old Jewry, London, EC2R 8DD.
The principal activity of the entity continued to be that of a tour operator specialising in ski holidays.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
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.

Page 3

 
WASTELAND SKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

  
2.4

Turnover

Turnover is the amount derived from ordinary activities and represents the aggregate revenue receivable from holidays departed during the financial year, stated net of value added tax and trade discounts.

 
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

Borrowing costs

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

 
2.8

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

 
WASTELAND SKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.11

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.

 The estimated useful lives range as follows:

System development
-
5
years

 
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.

Page 5

 
WASTELAND SKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.12
Tangible fixed assets (continued)

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:

Plant and machinery
-
15%

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.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.14

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.

 
2.15

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.

 
2.16

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.

 
2.17

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

 
WASTELAND SKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.18

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 13 (2023 - 16).


4.


Intangible assets




System development

£





At 1 May 2023
328,673


Additions - internal
32,000


Disposals
(360,673)



At 30 April 2024

-





At 1 May 2023
248,075


Charge for the year on owned assets
37,629


On disposals
(285,704)



At 30 April 2024

-



Net book value



At 30 April 2024
-



At 30 April 2023
80,598



Page 7

 
WASTELAND SKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 May 2023
290,754


Additions
18,458


Disposals
(276,254)



At 30 April 2024

32,958



Depreciation


At 1 May 2023
217,669


Charge for the year on owned assets
8,267


Disposals
(217,032)



At 30 April 2024

8,904



Net book value



At 30 April 2024
24,054



At 30 April 2023
73,085


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2023
1



At 30 April 2024
1




Page 8

 
WASTELAND SKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Alps Coaches Limited
8th Floor, Becket House, 36 Old Jewry, London, EC2R 8DD
Ordinary
100%


7.


Debtors

2024
2023
£
£


Trade debtors
346,857
410,108

Other debtors
57,042
222,534

Prepayments and accrued income
45,143
33,297

Tax recoverable
-
50,641

449,042
716,580



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
62,500
62,500

Trade creditors
775,203
855,856

Amounts owed to group undertakings
2,250,000
-

Corporation tax
60,341
172,553

Other taxation and social security
14,227
17,926

Other creditors
299,838
267,103

Accruals and deferred income
114,250
30,000

3,576,359
1,405,938


Page 9

 
WASTELAND SKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
31,250
93,750

Share capital treated as debt
-
72,413

31,250
166,163



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
62,500
62,500

Amounts falling due 1-2 years

Bank loans
31,250
93,750



93,750
156,250


In managing its cash flows, the Company received £250,000 during FY21 for funding through the Coronavirus Business Interruption Loan Scheme (CBILS).
Barclays Bank PLC hold charges over companies within the group. This includes fixed and floating chargeswhich covers all the property or undertaking of the company present and future. The charge contains a negative pledge.


11.


Deferred taxation




2024


£






Charged to profit or loss
(24,492)



At end of year
(24,492)

Page 10

 
WASTELAND SKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
11.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(24,492)
-

(24,492)
-


12.


Share capital

2024
2023
£
£
Shares classified as equity

Allotted, called up and fully paid



Nil (2023:38,110) Ordinary shares of £1.000 each
-
38,110
Nil (2023: 3,090) X Ordinary shares of £0.500 each
-
1,545
Nil (2023: 3,090) Y Ordinary shares of £0.500 each
-
1,545
Nil (2023: 10,300) Treasury shares of £1.000 each
-
10,300
774,560 (2023: nil) A Ordinary shares of £0.010 each
7,746
-
3,316,085 (2023: nil ) B1 Ordinary shares of £0.005 each
16,580
-
3,316,085 (2023: nil ) B2 Ordinary shares of £0.005 each
16,580
-
605,125 (2023: nil ) C Ordinary shares of £0.010 each
6,051
-
145,250 (2023: nil ) D Ordinary shares of £0.010 each
1,453
-

48,410

51,500

2024
2023
£
£
Shares classified as debt

Allotted, called up and fully paid



Nil (2023: 72,413) Preference shares of £1.000 each
-
72,413


The preference shares were redeemed in full on 5 February 2024.
The treasury shares were sold on 15 February 2024.
During the year all class X and class Y shares were cancelled.
During the year there was a change of share class designation. 

Page 11

 
WASTELAND SKI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

13.


Contingent liabilities

At 30 April 2024, there were contingent liabilities outstanding in repsect of counter indemnities and guarantess given by the Company and the Group, in the normal course of business, to the Company's bond obligors in respect of ABTA bonds amounting to £814,105 (2023: £850,000).


14.


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 £22,625 (2023: £20,498). Contributions totalling £nil (2023: £nil) were payable to the fund at the Statement of Financial Position date and are included in other creditors.


15.


Related party transactions

During the year, director R J Wood had a loan account with the Company. At the year end R J Wood owed the Company £Nil (2023: £157,971).
During the year, dividends totaling £377,837 were paid to the shareholders.


16.


Controlling party

The immediate parent is Powder24 Ltd. The ultimate controlling party is D Nugent by virtue of his majority ownership of the issued share capital.

 
Page 12