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Registered number: 05183176










GRAPE ESCAPES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
GRAPE ESCAPES LIMITED
 
 
  
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GRAPE ESCAPES LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Grape Escapes Limited for the year ended 31 December 2024 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Grape Escapes Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Grape Escapes Limited and state those matters that we have agreed to state to the Board of Directors of Grape Escapes Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grape Escapes Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Grape Escapes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Grape Escapes Limited. You consider that Grape Escapes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Grape Escapes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Xeinadin London Limited
 
Accountants
  
8th Floor
Becket House
36 Old Jewry
London
EC2R 8DD
17 June 2025
Page 1

 
GRAPE ESCAPES LIMITED
REGISTERED NUMBER: 05183176

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
4,969
7,619

Tangible assets
 5 
4,442
4,651

  
9,411
12,270

Current assets
  

Stocks
  
905
957

Debtors: amounts falling due within one year
 6 
110,002
160,307

Cash at bank and in hand
 7 
1,622,716
1,499,706

  
1,733,623
1,660,970

Creditors: amounts falling due within one year
 8 
(781,692)
(899,923)

Net current assets
  
 
 
951,931
 
 
761,047

Total assets less current liabilities
  
961,342
773,317

Creditors: amounts falling due after more than one year
 9 
(20,159)
(16,054)

Provisions for liabilities
  

Deferred tax
 10 
(253)
-

Other provision
  
(6,716)
(16,350)

Net assets
  
 
 
934,214
 
 
740,913


Capital and reserves
  

Called up share capital 
  
32,669
32,669

Share premium account
  
5,334
5,334

Profit and loss account
  
896,211
702,910

  
934,214
740,913


Page 2

 
GRAPE ESCAPES LIMITED
REGISTERED NUMBER: 05183176
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 on 17 June 2025.




M J Hallett
Director

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

Page 3

 
GRAPE ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Grape Escapes Limited is a private company limited by shares and incorporated in England and Wales.
The address of the registered office is given in the Company Information page of these financial statements.
The principal activity of the company during the year was that of tour operator activities.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

  
2.2

Revenue recognition

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.
Turnover represents amounts receivable from the sales of tours and other services supplied to customers net of VAT. Revenue and expenses relating to tours are taken to the profit and loss account on the date of return.

 
2.3

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.

 
2.4

Interest income

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

 
2.5

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

 
GRAPE ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

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.


 
2.7

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.

Intangible assets are amortised over a period of 3 years.

 
2.8

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

 
GRAPE ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

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 basis:

Fixtures and fittings
-
25%
Straight-Line Method
Office equipment
-
25%
Straight-Line Method

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.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
Page 6

 
GRAPE ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 7

 
GRAPE ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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.

  
2.15

Advance receipts and payments

All revenue relating to tours with return dates after the accounting reference date is treated as advance receipts, and separately disclosed under other creditors. Payments made to suppliers in respect of these tours are included within prepayments.

  
2.16

Provision 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 reporting 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2023 - 16).

Page 8

 
GRAPE ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Computer software

£



Cost


At 1 January 2024
27,650



At 31 December 2024

27,650



Amortisation


At 1 January 2024
20,031


Charge for the year on owned assets
2,650



At 31 December 2024

22,681



Net book value



At 31 December 2024
4,969



At 31 December 2023
7,619



Page 9

 
GRAPE ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
2,568
39,044
41,612


Additions
-
1,514
1,514



At 31 December 2024

2,568
40,558
43,126



Depreciation


At 1 January 2024
2,512
34,449
36,961


Charge for the year on owned assets
29
1,694
1,723



At 31 December 2024

2,541
36,143
38,684



Net book value



At 31 December 2024
27
4,415
4,442



At 31 December 2023
56
4,595
4,651

Page 10

 
GRAPE ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
10,289
396

Other debtors
13,108
30,949

Prepayments and accrued income
74,572
107,526

Tax recoverable
12,033
9,204

Deferred taxation
-
12,232

110,002
160,307


Prepayments include £71,212 (2023: £103,228) of advance payments to suppliers in respect of future tours.


7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,622,716
1,499,706

1,622,716
1,499,706



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
96,608
84,980

Corporation tax
85,193
80,171

Other taxation and social security
22,785
70,348

Other creditors
63,064
74,553

Accruals and deferred income
514,042
589,871

781,692
899,923


Accruals and deferred income within 1 year include £399,536 (2023: £493,517) of amounts received from customers in respect of future tours.

Page 11

 
GRAPE ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Accruals and deferred income
20,159
16,054

20,159
16,054


Accruals and deferred income more than 1 year include £20,159 (2023: £16,054) of amounts received for future tours.


10.


Deferred taxation




2024


£






At beginning of year
12,232


Charged to profit or loss
(12,485)



At end of year
(253)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(641)
(693)

Short term timing differences
388
12,925

(253)
12,232


11.


Contingent liabilities

The Company is a member of the Association of British Travel Agents Limited (ABTA). 
As at 31 December 2024 there were contingent liabilities given by the company in the normal course of business as a cash backed bond amounting to £1,124,886 (2023: £1,177,448).

Page 12

 
GRAPE ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


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 £15,518 (2023: £15,605). Contributions totalling £3,425 (2023: £52,979) were payable to the fund at the reporting date and are included in creditors.
The company also made a pension contribution for M Hallett of £50,000 during the year (2023: £50,000).


13.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the reporting date.


14.


Related party transactions

The company is related to Grape Escapes Transport Limited by virtue of common control.
At the balance sheet date £86 (2023: £86) was owed to Grape Escapes Transport Limited.


15.


Controlling party

The company is jointly controlled by M J Hallett & C L Hallett by virtue of their shareholding.

 
Page 13