Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30false242023-10-01Travel Company22falsetrue 07691077 2023-10-01 2024-09-30 07691077 2022-10-01 2023-09-30 07691077 2024-09-30 07691077 2023-09-30 07691077 1 2023-10-01 2024-09-30 07691077 d:Director3 2023-10-01 2024-09-30 07691077 c:PlantMachinery 2023-10-01 2024-09-30 07691077 c:MotorVehicles 2023-10-01 2024-09-30 07691077 c:MotorVehicles 2024-09-30 07691077 c:MotorVehicles 2023-09-30 07691077 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07691077 c:OfficeEquipment 2023-10-01 2024-09-30 07691077 c:OfficeEquipment 2024-09-30 07691077 c:OfficeEquipment 2023-09-30 07691077 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07691077 c:ComputerEquipment 2023-10-01 2024-09-30 07691077 c:ComputerEquipment 2024-09-30 07691077 c:ComputerEquipment 2023-09-30 07691077 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07691077 c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07691077 c:Goodwill 2023-10-01 2024-09-30 07691077 c:Goodwill 2024-09-30 07691077 c:Goodwill 2023-09-30 07691077 c:ComputerSoftware 2024-09-30 07691077 c:ComputerSoftware 2023-09-30 07691077 c:CurrentFinancialInstruments 2024-09-30 07691077 c:CurrentFinancialInstruments 2023-09-30 07691077 c:CurrentFinancialInstruments 4 2024-09-30 07691077 c:CurrentFinancialInstruments 4 2023-09-30 07691077 c:Non-currentFinancialInstruments 2024-09-30 07691077 c:Non-currentFinancialInstruments 2023-09-30 07691077 c:CurrentFinancialInstruments c:WithinOneYear 2024-09-30 07691077 c:CurrentFinancialInstruments c:WithinOneYear 2023-09-30 07691077 c:Non-currentFinancialInstruments c:AfterOneYear 2024-09-30 07691077 c:Non-currentFinancialInstruments c:AfterOneYear 2023-09-30 07691077 c:ShareCapital 2024-09-30 07691077 c:ShareCapital 2023-09-30 07691077 c:CapitalRedemptionReserve 2023-10-01 2024-09-30 07691077 c:MergerReserve 2024-09-30 07691077 c:MergerReserve 2023-09-30 07691077 c:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 07691077 c:RetainedEarningsAccumulatedLosses 2024-09-30 07691077 c:RetainedEarningsAccumulatedLosses 2023-09-30 07691077 d:OrdinaryShareClass1 2023-10-01 2024-09-30 07691077 d:OrdinaryShareClass1 2024-09-30 07691077 d:OrdinaryShareClass1 2023-09-30 07691077 d:FRS102 2023-10-01 2024-09-30 07691077 d:Audited 2023-10-01 2024-09-30 07691077 d:FullAccounts 2023-10-01 2024-09-30 07691077 d:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07691077 d:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07691077 c:Goodwill c:ExternallyAcquiredIntangibleAssets 2023-10-01 2024-09-30 07691077 c:ComputerSoftware c:ExternallyAcquiredIntangibleAssets 2023-10-01 2024-09-30 07691077 2 2023-10-01 2024-09-30 07691077 6 2023-10-01 2024-09-30 07691077 c:ExternallyAcquiredIntangibleAssets 2023-10-01 2024-09-30 07691077 c:Goodwill c:OwnedIntangibleAssets 2023-10-01 2024-09-30 07691077 c:ComputerSoftware c:OwnedIntangibleAssets 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07691077










ACORN TRAVEL GROUP LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
ACORN TRAVEL GROUP LIMITED
 

CONTENTS



Page
Strategic report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 13


 
ACORN TRAVEL GROUP LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Introduction
 
The directors present their strategic report for the year ended 30 September 2024.
 

Business review
 
The directors are delighted that 2024 saw continued growth across the business and that this trend is continuing into 2025.
 
Acorn Travel Group strategy remains that of building a one stop shop for schools, and providing a route to sales for adventure centres and education suppliers. In support of this this year saw the launch of its Acorn Adventure Gateway. This online portal offers a new route to market for independent adventure centres across the UK and abroad and will be a key factor in the company’s future.


This report was approved by the board on 19 March 2025 and signed on its behalf.



J C Gardiner
Director

Page 1

 
ACORN TRAVEL GROUP LIMITED
REGISTERED NUMBER: 07691077

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
87,994
-

Tangible assets
 6 
18,100
20,998

Investments
  
710,014
710,014

  
816,108
731,012

Current assets
  

Stocks
  
9,192
7,383

Debtors: amounts falling due within one year
 8 
670,928
627,885

Cash at bank and in hand
  
1,114,141
892,069

  
1,794,261
1,527,337

Creditors: amounts falling due within one year
 9 
(1,585,427)
(1,495,514)

Net current assets
  
 
 
208,834
 
 
31,823

Total assets less current liabilities
  
1,024,942
762,835

Creditors: amounts falling due after more than one year
 10 
(511,200)
(329,495)

  

Net assets
  
513,742
433,340


Capital and reserves
  

Called up share capital 
  
30,000
30,000

Merger reserve
  
72,930
72,930

Profit and loss account
  
410,812
330,410

  
513,742
433,340


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 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 19 March 2025.



Page 2

 
ACORN TRAVEL GROUP LIMITED
REGISTERED NUMBER: 07691077
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024


J C Gardiner
Director

The notes on pages 4 to 13 form part of these financial statements.

Page 3

 
ACORN TRAVEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Acorn Travel Group Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 (see note 3).

 
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 rate 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 is 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 Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
ACORN TRAVEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Turnover

Turnover represents amounts receivable for sales of travel and related services net of VAT and trade
discounts.

Principal

Where the company operates as the principal tour operator, turnover represents the gross value of the holiday sold including air tickets, hotel bookings and other related services. The full cost related to the holiday is included within cost of sales.
Agent 
Where the company acts as an agent, turnover represents commission earned. 
Turnover is recognised on departure date basis.
Commissions earned from the sale of adventure trips is recognised 3 weeks prior to the point of departure.
 


 
2.5

Hire purchase and leasing commitments

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

 
2.6

Interest income

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

 
2.7

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.

 
2.8

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 5

 
ACORN TRAVEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the 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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Other intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Website cost is amortised evenly over its estimated useful life of four years.

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following useful life basis:

Plant and machinery etc.
-
3-5 years

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 6

 
ACORN TRAVEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.13

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

 
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

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based historical experience and other factors that are recognised to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.
The directors believe that there are no significant accounting estimates or critical judgements.
Other accounting estimates include the useful life of tangible and intangible fixed assets.


4.


Employees

The average monthly number of employees, including directors, during the year was 24 (2023 - 22).

Page 7

 
ACORN TRAVEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Intangible assets




Computer software
Goodwill
Total

£
£
£



Cost


At 1 October 2023
-
121,000
121,000


Additions
117,325
-
117,325



At 30 September 2024

117,325
121,000
238,325



Amortisation


At 1 October 2023
-
121,000
121,000


Charge for the year
29,331
-
29,331



At 30 September 2024

29,331
121,000
150,331



Net book value



At 30 September 2024
87,994
-
87,994



At 30 September 2023
-
-
-



Page 8

 
ACORN TRAVEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Tangible fixed assets





Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
3,132
5,246
53,750
62,128


Additions
-
2,270
5,603
7,873


Disposals
(3,132)
-
-
(3,132)



At 30 September 2024

-
7,516
59,353
66,869



Depreciation


At 1 October 2023
626
3,478
37,026
41,130


Charge for the year on owned assets
522
1,156
7,109
8,787


Disposals
(1,148)
-
-
(1,148)



At 30 September 2024

-
4,634
44,135
48,769



Net book value



At 30 September 2024
-
2,882
15,218
18,100



At 30 September 2023
2,506
1,768
16,724
20,998


7.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 October 2023
710,014



At 30 September 2024
710,014





8.


Debtors

2024
2023
£
£

Page 9

 
ACORN TRAVEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.Debtors (continued)


Trade debtors
1,332
274

Amounts owed by group undertakings
38,653
62,653

Other debtors
-
198,062

Prepayments and accrued income
630,943
366,896

670,928
627,885



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
179,167

Trade creditors
51,531
22,617

Amounts owed to group undertakings
-
11,670

Taxation and social security
14,603
-

Other taxation and social security
63,599
32,753

Other creditors
32,232
-

Accruals
86,679
85,805

Payments on account
1,336,783
1,163,502

1,585,427
1,495,514



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to connected companies
500,000
300,000

Payments on account
11,200
29,495

511,200
329,495


Dated 16 February 2024, HSBC Bank plc holds a fixed and floating charge over cash deposits.

Page 10

 
ACORN TRAVEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
179,167


-
179,167




-
179,167


The bank loan was repaid on 9 October 2023.

Page 11

 
ACORN TRAVEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and partly paid



30,000 (2023 - 30,000) 'A' Ordinary shares of £1.00 each
30,000
30,000



13.


Reserves

Capital redemption reserve

Capital redemption reserve records the nominal value of shares repurchased by the Company.

Profit and loss account

Includes all current and prior period retained profit and losses.


14.


Contingent liabilities

As at 30 September 2024, there were contingent liabilities given by the Company in the normal course of business in respect of an insurance backed ABTA bond, amounting to £1,000,000 (2023: £500,000).


15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund during the year amounted to £35,501 (2023: £61,106). Contributions totalling £nil (2023: £nil) were payable to the fund at the balance sheet date.

Page 12

 
ACORN TRAVEL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

16.


Related party transactions

During the year the company received £200,000 from Acorn Venture Limited, a company under common control. Interest was charged at 5% on the outstanding balance of £500,000. The interest charged is payable within one year and is recorded in accruals. The amount owed to Acorn Venture Limited at the balance sheet date was £500,000 (2023: £300,000).
During the year the company purchased transport services from its subsidiary company, School Trips Limited, to the value of £1,744,583 (2023: £1,684,248) and charged management fees of £285,365 (2023: £203,581). The amount owed by (2023: owed to) School Trips Limited at the balance sheet date was £38,653 (2023: £11,670).
During the year, the company purchased services totalling £903,958 from its subsidiary company La Savane SAS. Payments of £966,211 were made to La Savane SAS during the year. At the balance sheet date, the company was owed £nil (2023: £62,253).
During the year, the company received £186,345 from a director of the company. In the prior year the company made advance payments totalling £184,500 to this director. Interest of £nil (2023: £1,845) was charged on the loan. At the balance sheet date, the company was owed £nil (2023: £186,345)


17.


Post balance sheet events

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


18.


Controlling party

The controlling party is N H Dunnett by virtue of his shareholding.


19.


Auditors' information

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

The audit report was signed on 19 March 2025 by Karanjit Gill FCCA (Senior statutory auditor) on behalf of Xeinadin Audit Limited.

 
Page 13