Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30Mr P Bosworth Mrs S Bosworthtrue30false2023-05-01travel company31false 01857988 2023-05-01 2024-04-30 01857988 2022-05-01 2023-04-30 01857988 2024-04-30 01857988 2023-04-30 01857988 c:Director1 2023-05-01 2024-04-30 01857988 c:Director2 2023-05-01 2024-04-30 01857988 c:Director3 2023-05-01 2024-04-30 01857988 c:Director4 2023-05-01 2024-04-30 01857988 c:RegisteredOffice 2023-05-01 2024-04-30 01857988 d:Buildings d:LongLeaseholdAssets 2023-05-01 2024-04-30 01857988 d:Buildings d:LongLeaseholdAssets 2024-04-30 01857988 d:Buildings d:LongLeaseholdAssets 2023-04-30 01857988 d:LandBuildings 2024-04-30 01857988 d:LandBuildings 2023-04-30 01857988 d:PlantMachinery 2023-05-01 2024-04-30 01857988 d:PlantMachinery 2024-04-30 01857988 d:PlantMachinery 2023-04-30 01857988 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01857988 d:FurnitureFittings 2023-05-01 2024-04-30 01857988 d:FurnitureFittings 2024-04-30 01857988 d:FurnitureFittings 2023-04-30 01857988 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01857988 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01857988 d:ComputerSoftware 2024-04-30 01857988 d:ComputerSoftware 2023-04-30 01857988 d:CurrentFinancialInstruments 2024-04-30 01857988 d:CurrentFinancialInstruments 2023-04-30 01857988 d:CurrentFinancialInstruments 1 2024-04-30 01857988 d:CurrentFinancialInstruments 1 2023-04-30 01857988 d:CurrentFinancialInstruments 6 2024-04-30 01857988 d:CurrentFinancialInstruments 6 2023-04-30 01857988 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 01857988 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 01857988 d:ShareCapital 2024-04-30 01857988 d:ShareCapital 2023-04-30 01857988 d:RetainedEarningsAccumulatedLosses 2024-04-30 01857988 d:RetainedEarningsAccumulatedLosses 2023-04-30 01857988 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 01857988 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 01857988 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 01857988 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 01857988 c:FRS102 2023-05-01 2024-04-30 01857988 c:Audited 2023-05-01 2024-04-30 01857988 c:FullAccounts 2023-05-01 2024-04-30 01857988 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 01857988 d:EntityControlledByKeyManagementPersonnel1 2023-05-01 2024-04-30 01857988 d:EntityControlledByKeyManagementPersonnel1 2024-04-30 01857988 d:EntityControlledByKeyManagementPersonnel1 2023-04-30 01857988 c:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 01857988 d:ComputerSoftware d:InternallyGeneratedIntangibleAssets 2023-05-01 2024-04-30 01857988 2 2023-05-01 2024-04-30 01857988 7 2023-05-01 2024-04-30 01857988 d:ComputerSoftware d:OwnedIntangibleAssets 2023-05-01 2024-04-30 01857988 f:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 01857988










PRESTBURY TRAVEL LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
PRESTBURY TRAVEL LIMITED
 
 
COMPANY INFORMATION


Directors
Mrs S Bosworth 
Mr P Bosworth 
Mr J Bosworth 
Ms E Bosworth 




Registered number
01857988



Registered office
27 Park Lane
Poynton

Stockport

Cheshire

SK12 1RD




Independent auditors
Xeinadin Audit Limited
Chartered Accountants & Statutory Auditor

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD





 
PRESTBURY TRAVEL LIMITED
 

CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 12


 
PRESTBURY TRAVEL LIMITED
REGISTERED NUMBER: 01857988

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
13,691
-

Tangible assets
 5 
120,679
132,029

  
134,370
132,029

Current assets
  

Debtors: amounts falling due within one year
 6 
130,424
93,322

Cash at bank and in hand
 7 
2,607,509
2,290,916

  
2,737,933
2,384,238

Creditors: amounts falling due within one year
 8 
(1,498,314)
(1,490,507)

Net current assets
  
 
 
1,239,619
 
 
893,731

Total assets less current liabilities
  
1,373,989
1,025,760

Provisions for liabilities
  

Deferred tax
 9 
(1,589)
(4,470)

  
 
 
(1,589)
 
 
(4,470)

Net assets
  
1,372,400
1,021,290


Capital and reserves
  

Called up share capital 
  
52,500
52,500

Profit and loss account
  
1,319,900
968,790

  
1,372,400
1,021,290


Page 1

 
PRESTBURY TRAVEL LIMITED
REGISTERED NUMBER: 01857988
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

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 statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 August 2024.




Mr J Bosworth
Director

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

Page 2

 
PRESTBURY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Prestbury Travel Limited is a private company limited by shares incorporated in England & Wales.
The address of the registered office is 27 Park Lane, Poynton, Stockport, Cheshire, SK12 1RD.
The nature of the company's operations and principal activites are that of a specialist tour operator and agent.

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

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 Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Turnover

Turnover represents the aggregate amount of gross revenue receivable from inclusive tours, travel agency commissions receivable and other services supplied to customers in the ordinary course of business after deduction of all direct costs of sales incurred in connection with the revenues received. Turnover is recognised once the full balance of the booking has been received.

Page 3

 
PRESTBURY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
PRESTBURY TRAVEL 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 balance sheet 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 balance sheet 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 balance sheet date.

 
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.

 
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.

Page 5

 
PRESTBURY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Long-term leasehold property
-
4% Reducing balance or 10-33% Straight Line
Plant and machinery
-
10-50% Straight line
Fixtures and fittings
-
10-33% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
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.

Page 6

 
PRESTBURY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

  
2.17

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
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 the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Average number of employees
31
30


4.


Intangible assets




Computer software

£



Cost


Additions - internal
16,215



At 30 April 2024

16,215



Amortisation


Charge for the year on owned assets
2,524



At 30 April 2024

2,524



Net book value



At 30 April 2024
13,691



At 30 April 2023
-


Page 7

 
PRESTBURY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
           4.Intangible assets (continued)



5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 May 2023
154,445
316,676
29,815
500,936


Additions
-
3,584
-
3,584



At 30 April 2024

154,445
320,260
29,815
504,520



Depreciation


At 1 May 2023
64,438
276,779
27,690
368,907


Charge for the year on owned assets
3,920
10,223
791
14,934



At 30 April 2024

68,358
287,002
28,481
383,841



Net book value



At 30 April 2024
86,087
33,258
1,334
120,679



At 30 April 2023
90,007
39,897
2,125
132,029

Page 8

 
PRESTBURY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

           5.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Long leasehold property
86,087
90,007

86,087
90,007



6.


Debtors

2024
2023
£
£


Trade debtors
35,809
57,759

Other debtors
22,247
12,807

Prepayments and accrued income
24,727
22,756

Financial instruments
47,641
-

130,424
93,322



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,607,509
2,290,916

2,607,509
2,290,916


Cash at bank and in hand include restricted cash in favour of the International Air Transportation Association 'IATA' amounting to £155,025 (2023: £155,025)

Page 9

 
PRESTBURY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
300
300

Trade creditors
1,229,713
1,111,317

Corporation tax
123,535
92,904

Other taxation and social security
28,865
71,795

Other creditors
110,388
180,983

Accruals and deferred income
5,513
5,592

Financial instruments
-
27,616

1,498,314
1,490,507


Trade creditors include advanced payments from customers who have made part payments amounting to £952,831 (2023: £1,099,659)
At the year end the company had an outstanding BSP liability of £35,409 (2023: £26,297)


9.


Deferred taxation




2024


£






At beginning of year
(4,470)


Charged to profit or loss
2,881



At end of year
(1,589)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(1,975)
(4,812)

Short term timing differences
386
342

(1,589)
(4,470)

Page 10

 
PRESTBURY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Contingent liabilities and regulatory requirements

The company currently holds an Air Travel Organisers' License ('ATOL') issued by the Civil Aviation Authority ('CAA'), and is a member of the Association of British Travel Agents Limited ('ABTA')
At the year end the company had a cash bond amounting to £86,838 (2023: £265,208) to protect customers monies as required by ABTA.
In order to offer air inclusive package holidays, the company requires the annual renewal by the CAA of its ATOL license. The CAA grants this license on the basis of meeting the agreed financial criteria and renews this in September (effective 1st October) each year. The company has complied with these requirements in previous years and expects the license to be renewed without any issues.


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets 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 £19,269 (2023: £16,652).
Contributions totalling £4,897 (2023: £3,122) were payable to the fund at the reporting date and are included in creditors.


12.


Related party transactions

Included within creditors is a balance owed to Mr P Bosworth and Mrs S Bosworth, totalling £300 (2023: £300). The full current year balance is included within short term creditors.
During the year advances of £19,047 (2023: £12,807) were made to the directors, with repayments totalling £12,807 (2023: £4,787).
At the year end, the directors owed the company £19,047 (2023: £12,807). This amount will be repaid within 9 months of the year end.
During the year, dividend paid amounted to £Nil (2023: £100,000)
The company paid an annual rent of £24,000 (2023: £24,000) to Mrs S Bosworth in respect of the Poynton shop which she privately owns.


13.


Post balance sheet events

The directors have concluded that no other material events have occurred since the date of approval of these financial statements that would affect the financial statements of the company. 


14.


Controlling party

The ultimate controlling party is Mrs S Bosworth by virtue of shareholding.

Page 11

 
PRESTBURY TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

15.


Auditors' information

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

The audit report was signed on 22 August 2024 by Yasin Khandwalla (Senior Statutory Auditor) on behalf of Xeinadin Audit Limited.

 
Page 12