Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity23falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08820671 2023-01-01 2023-12-31 08820671 2022-01-01 2022-12-31 08820671 2023-12-31 08820671 2022-12-31 08820671 c:Director1 2023-01-01 2023-12-31 08820671 d:MotorVehicles 2023-01-01 2023-12-31 08820671 d:MotorVehicles 2023-12-31 08820671 d:MotorVehicles 2022-12-31 08820671 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08820671 d:ComputerEquipment 2023-01-01 2023-12-31 08820671 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 08820671 d:CurrentFinancialInstruments 2023-12-31 08820671 d:CurrentFinancialInstruments 2022-12-31 08820671 d:ShareCapital 2023-12-31 08820671 d:ShareCapital 2022-12-31 08820671 d:RetainedEarningsAccumulatedLosses 2023-12-31 08820671 d:RetainedEarningsAccumulatedLosses 2022-12-31 08820671 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 08820671 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 08820671 c:OrdinaryShareClass1 2023-01-01 2023-12-31 08820671 c:OrdinaryShareClass1 2023-12-31 08820671 c:OrdinaryShareClass1 2022-12-31 08820671 c:FRS102 2023-01-01 2023-12-31 08820671 c:Audited 2023-01-01 2023-12-31 08820671 c:FullAccounts 2023-01-01 2023-12-31 08820671 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08820671 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08820671









ON THE ROAD BOOKS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ON THE ROAD BOOKS LIMITED
REGISTERED NUMBER: 08820671

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,652
40,736

  
6,652
40,736

Current assets
  

Trade and other receivables
 5 
597,840
21,133

Cash at bank and in hand
 6 
14,963
1,038,991

  
612,803
1,060,124

Current liabilities
  

Trade and other payables
 7 
(141,939)
(91,813)

Net current assets
  
470,864
968,311

Total assets less current liabilities
  
477,516
1,009,047

Provisions for liabilities
  

Deferred tax
 8 
(956)
(7,046)

  
(956)
(7,046)

Net assets
  
476,560
1,002,001


Capital and reserves
  

Share capital
 9 
2
2

Retained earnings
  
476,558
1,001,999

Total equity
  
476,560
1,002,001


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 by: 



Joel Holland
Director

Date: 11 March 2025

Page 1

 
ON THE ROAD BOOKS LIMITED
REGISTERED NUMBER: 08820671
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ON THE ROAD BOOKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

On The Road Books Limited (the "Company") is a private company limited by shares and is incorporated, domiciled and registered in England and Wales (Registered number: 08820671). The nature of the Company’s operations is set out in the Directors' Report on page 1. The address of its registered office is 20 Gracechurch Street, 11th Floor, London, United Kingdom, EC3V 0BG.

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 directors have placed a particular focus on the appropriateness of adopting the going concern basis in preparing the financial statements for the year ended 31 December 2023. Given the Company’s operating model, the directors believe that the Company has sufficient resources to meet its obligations as they fall due for the going concern assessment period to 1 January 2025. Based on this, together with available market information and the directors’ knowledge and experience of the Company, the directors continue to adopt the going concern basis in preparing the financial statements for the year ended 31 December 2023.

 
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 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'.

Page 3

 
ON THE ROAD BOOKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

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 Statement of Financial Position 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.

Page 4

 
ON THE ROAD BOOKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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. 

Depreciation is provided on the following basis:

Computer equipment
-
25%
Reducing balance
Other fixed assets
-
33%

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.

  
2.7

Trade and other receivables

Trade and other receivables are recognised initially at fair value, subsequently at amortised cost and, where relevant, adjusted for the time value of money. The Company assesses on a forward-looking basis, the expected recoverability associated with its trade receivables. If collection is expected in more than one year, the balance is presented within non-current assets.
In determining the expected recoverablility, the Company takes into account any recent payment behaviours and future expectations of likely default events (i.e. not making payment on the due date) based on individual customer credit ratings, actual or expected insolvency filings or company voluntary arrangements, likely deferrals of payments due and market expectations and trends in the wider macro-economic environment in which our customers operate.
Trade and other receivables are written off once all avenues to recover the balances are exhausted. Receivables written off are no longer subject to any enforcement activity

  
2.8

Cash and cash equivalents

Cash and cash equivalents comprise cash balances, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or fewer.

  
2.9

Trade and other payables

Trade and other payables with no stated interest rate and payable within one year are recorded at transaction price. Trade and other payables after one year are discounted based on the amortised cost method using the effective interest rate.

  
2.10

Expenses

Expenditure is expenses during the period.

Page 5

 
ON THE ROAD BOOKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.11

Share capital

Ordinary shares are classified as equity.

  
2.12

Intercompany loans

Amounts due from Group undertakings
Amounts due from Group undertakings are recognised initially at fair value less  attributable transaction costs. Subsequent to initial recognition, amounts due from Group undertakings are stated at amortised cost and, where relevant, adjusted for the time value of money. The Company assesses on a forward-looking basis, the recoverability losses associated with its amounts due from Group undertakings. A provision for impairment is made for the lifetime expected recoverability on initial recognition of the amounts due. If collection is expected in more than one year, the balance is presented within non-current assets.
In determining the expected recoverability, the Company takes into account any future expectations of likely default events based on the level of capitalisation of the counterparty, which is a fellow subsidairy undertaking of On The Road Books Ltd.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.14

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:


        2023
        2022
            No.
            No.







Average number of employees
2
3

Page 6

 
ON THE ROAD BOOKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets






£



Cost or valuation


At 1 January 2023
54,680


Additions
7,220


Disposals
(54,680)



At 31 December 2023

7,220



Depreciation


At 1 January 2023
13,944


Charge for the year on owned assets
568


Disposals
(13,944)



At 31 December 2023

568



Net book value



At 31 December 2023
6,652


5.


Trade and other receivables

2023
2022
£
£


Trade debtors
-
6,000

Amounts owed by group undertakings
554,700
-

Other debtors
40,644
13,387

Prepayments and accrued income
2,496
1,746

597,840
21,133


The unsecured amounts owed from Group undertakings are interest free, unsecured, repayable on
demand and with no fixed repayment date

Page 7

 
ON THE ROAD BOOKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
14,963
1,038,991

14,963
1,038,991



7.


Trade and other payables

2023
2022
£
£



Corporation tax payable
133,291
73,613

Trade creditors
803
2,593

Other creditors
2,601
14,009

Accruals and deferred income
5,244
1,598

141,939
91,813


8.


Deferred taxation




2023


£






At beginning of year
(7,046)


Charged to profit or loss
6,090



At end of year
(956)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fixed asset timing differences
(956)
(7,046)

(956)
(7,046)

Page 8

 
ON THE ROAD BOOKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



10.


Controlling party

The immediate parent company is Harvest Hosts (UK) Holding Co. Limited. 
On 13 February 2023, Harvest Hosts (UK) Holding Co. Limited acquired 100% of the share capital in On The Road Books Limited. With effect from this date and as at 31 December 2023, the ultimate parent company and controlling party of On The Road Books Limited was Harvest Hosts OpCo LLC, which is registered in United States of America. 
 


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 11 March 2025 by Michael Marcus FCA FCCA (Senior Statutory Auditor) on behalf of TC Group.

Page 9