Company registration number 3995948 (England and Wales)
ATR SAFARI UK LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
One Bell Lane
Lewes
East Sussex
BN7 1JU
ATR SAFARI UK LTD
CONTENTS
Page
Company information
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
ATR SAFARI UK LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
767,499
764,487
Cash at bank and in hand
814,602
902,658
1,582,101
1,667,145
Creditors: amounts falling due within one year
5
(1,276,120)
(1,389,465)
Net current assets
305,981
277,680
Provisions for liabilities
210
Net assets
305,981
277,890
Capital and reserves
Called up share capital
6
32,958
32,958
Capital redemption reserve
3,000
3,000
Profit and loss reserves
270,023
241,932
Total equity
305,981
277,890
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 March 2025 and are signed on its behalf by:
Mr G S Welby
Mr A R Fishlock
Director
Director
Company Registration No. 3995948
ATR SAFARI UK LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 October 2022
32,958
3,000
193,492
229,450
Year ended 30 September 2023:
Profit and total comprehensive income for the year
-
-
289,678
289,678
Dividends
-
-
(241,238)
(241,238)
Balance at 30 September 2023
32,958
3,000
241,932
277,890
Year ended 30 September 2024:
Profit and total comprehensive income for the year
-
-
28,091
28,091
Balance at 30 September 2024
32,958
3,000
270,023
305,981
ATR SAFARI UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information
ATR Safari UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is One Bell Lane, Lewes, East Sussex, BN7 1JU. The trading address from which the company operates is The Great Barn, High House Farm, Gomshall Lane, Shere, Guildford GU5 9BU.
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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
Going concern
The directors have assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern.
At the time of approving the financial statements the directors believe that all appropriate measures have been or will be taken to ensure that the company will be able to continue its operations for at least the next 12 months and thus conclude that the going concern basis remains appropriate.
1.3
Turnover
Turnover represents amounts invoiced, exclusive of VAT, in respect of holidays taken for departure dates up to the company's year end.
1.4
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.
1.5
Financial instruments
The company 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with 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.
ATR SAFARI UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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.
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 company after deducting all of its liabilities.
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.
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.
1.6
Equity instruments
Equity instruments issued by the company 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 company.
1.7
Derivatives
The company uses forward foreign currency contracts to reduce exposure to foreign exchange rates.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss as appropriate.
The company does not currently apply hedge accounting for foreign exchange derivatives.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ATR SAFARI UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 6 -
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 company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
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 when the company has 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.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
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.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
ATR SAFARI UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Sales
9
7
Marketing
3
3
Administration
1
1
13
11
3
Financial instruments
The company enters into foreign currency contracts to mitigate the exchange risk for certain foreign currency liabilities. As at the balance sheet date the outstanding contracts mature withing 1 year on average (2023: nil) of the year-end. At the balance sheet date, the company was committed to buying $200,000 for £153,066 (2023: £nil).
The forward currency contracts are measured at fair value as at the year-end forward rate.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
392,103
458,784
Other debtors
337,467
263,204
Prepayments and accrued income
37,929
42,499
767,499
764,487
ATR SAFARI UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Payments received on account
846,231
952,881
Trade creditors
114,257
28,424
Corporation tax
7,177
82,941
Other taxation and social security
26,530
Other creditors
5,476
3,995
Accruals and deferred income
276,449
321,224
1,276,120
1,389,465
6
Called up share capital
2024
2023
£
£
Issued and fully paid
10,929 Ordinary 'A' shares of £1 each
10,929
10,929
10,929 Ordinary 'B' shares of £1 each
10,929
10,929
3,750 Ordinary 'C' shares of £1 each
3,750
3,750
3,750 Ordinary 'D' shares of £1 each
3,750
3,750
918 Ordinary 'E' shares of £1 each
3,296
3,296
152 Ordinary 'F' shares of £1 each
152
152
152 Ordinary 'G' shares of £1 each
152
152
32,958
32,958
The authorised share capital comprises ordinary shares in blocks of 25,000 shares designated 'A' to 'L' ordinary shares of £1 each. They rank pari passu in all respects with the exceptions of 'E', 'F' & 'G' shares which hold no voting rights and no rights on winding up.
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Christopher Ketley FCA
Statutory Auditor:
TC Group
Date of audit report:
7 March 2025
ATR SAFARI UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
8
Related party transactions
During the year the company charged £1,189,598 (2023 - £1,129,439) for commercial services to an entity operating in Mauritius with significant influence over the company, At the year end there was a balance for services and support outstanding from this entity of £289,256 (2023 - £225,513).
In addition to this, all non-UK customers of the company are now managed by this entity.
As at the balance sheet date, within payments received on account, there is £17,989 (2023: £nil) relating to deposits held in relation to a director of the company. This balance is repayable on demand and interest free.