Carlton Atlantic Travel & Events Limited 3807443 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the provision of incentive events. Up to 31 July 2012 the company was part of the Atlantic Holidays Limited group. On that date the company purchased the shares held by Atlantic Holidays Limited. The company is now controlled by J D Hollett Digita Accounts Production Advanced 6.30.9574.0 true 3807443 2024-01-01 2024-12-31 3807443 2024-12-31 3807443 core:CapitalRedemptionReserve 2024-12-31 3807443 core:RetainedEarningsAccumulatedLosses 2024-12-31 3807443 core:ShareCapital 2024-12-31 3807443 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 3807443 core:FurnitureFittingsToolsEquipment 2024-12-31 3807443 core:LandBuildings 2024-12-31 3807443 core:OtherPropertyPlantEquipment 2024-12-31 3807443 bus:SmallEntities 2024-01-01 2024-12-31 3807443 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 3807443 bus:FilletedAccounts 2024-01-01 2024-12-31 3807443 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 3807443 bus:RegisteredOffice 2024-01-01 2024-12-31 3807443 bus:CompanySecretary1 2024-01-01 2024-12-31 3807443 bus:Director2 2024-01-01 2024-12-31 3807443 bus:Director3 2024-01-01 2024-12-31 3807443 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 3807443 core:ComputerEquipment 2024-01-01 2024-12-31 3807443 core:FurnitureFittings 2024-01-01 2024-12-31 3807443 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 3807443 core:LandBuildings 2024-01-01 2024-12-31 3807443 core:LeaseholdImprovements 2024-01-01 2024-12-31 3807443 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 3807443 countries:EnglandWales 2024-01-01 2024-12-31 3807443 2023-12-31 3807443 core:FurnitureFittingsToolsEquipment 2023-12-31 3807443 core:LandBuildings 2023-12-31 3807443 core:OtherPropertyPlantEquipment 2023-12-31 3807443 2023-01-01 2023-12-31 3807443 2023-12-31 3807443 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 3807443 core:FurnitureFittingsToolsEquipment 2023-12-31 3807443 core:LandBuildings 2023-12-31 3807443 core:OtherPropertyPlantEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 3807443

Prepared for the registrar

Carlton Atlantic Travel & Events Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Carlton Atlantic Travel & Events Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Carlton Atlantic Travel & Events Limited

Company Information

Directors

V J Camacho

J D Hollett

Company secretary

V J Camacho

Registered office

45 Longsmith Street
Gloucester
Gloucestershire
GL1 2HT

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
Gloucestershire
GL51 0UX

 

Carlton Atlantic Travel & Events Limited

(Registration number: 3807443)
Balance Sheet as at 31 December 2024

Note

2024
 £

2023
 £

Fixed assets

 

Tangible assets

4

4,265

3,580

Current assets

 

Debtors

5

1,094,118

228,445

Debtors: Amounts falling due after more than one year

5

275,000

275,000

Cash at bank and in hand

 

4,481,759

3,084,246

 

5,850,877

3,587,691

Creditors: Amounts falling due within one year

6

(2,335,366)

(502,630)

Net current assets

 

3,515,511

3,085,061

Total assets less current liabilities

 

3,519,776

3,088,641

Deferred tax liabilities

(718)

(490)

Net assets

 

3,519,058

3,088,151

Capital and reserves

 

Called up share capital

49

49

Capital redemption reserve

49,951

49,951

Profit and loss account

3,469,058

3,038,151

Total equity

 

3,519,058

3,088,151

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 June 2025 and signed on its behalf by:
 


J D Hollett
Director

 

Carlton Atlantic Travel & Events Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office and principal place of business is:
45 Longsmith Street
Gloucester
Gloucestershire
GL1 2HT

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.


Critical accounting judgements 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 amounts of assets and liabilities that are not readily apparent from other sources.

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those 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 if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

Judgements
No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company provide incentive events, organised on a long-term contract basis. Turnover and related costs on these contracts are recognised as contract activity progresses.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Carlton Atlantic Travel & Events Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 taxable income.

Deferred corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred corporation tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

over the life of the lease

Computer equipment

33% of cost per annum

Fixtures and fittings

20% of cost per annum

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business. Amounts recoverable on long term contracts, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 

Carlton Atlantic Travel & Events Limited

Notes to the Financial Statements for the Year Ended 31 December 2024


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Carlton Atlantic Travel & Events Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

2024
 No.

2023
 No.

Average number of employees

7

7

 

4

Tangible assets

Leasehold improvements
£

Computer equipment
 £

Fixtures and fittings
 £

Total
£

Cost

At 1 January 2024

7,000

14,728

9,022

30,750

Additions

-

3,345

-

3,345

At 31 December 2024

7,000

18,073

9,022

34,095

Depreciation

At 1 January 2024

7,000

11,502

8,668

27,170

Charge for the year

-

2,572

88

2,660

At 31 December 2024

7,000

14,074

8,756

29,830

Carrying amount

At 31 December 2024

-

3,999

266

4,265

At 31 December 2023

-

3,226

354

3,580

 

5

Debtors

2024
£

2023
£

Trade debtors

1,017,487

141,061

Other debtors

333,367

331,346

Prepayments and accrued income

18,264

31,038

1,369,118

503,445


 

Other debtors includes £330,000 (2023 - £275,000) owed by a related party, of which £275,000 (2023 - £275,000) is receivable after more than one year.

 

Carlton Atlantic Travel & Events Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

 

6

Creditors

2024
 £

2023
 £

Due within one year

Trade creditors

5,297

1,064

Social security and other taxes

11,106

10,987

Other creditors

37,438

3,318

Accrued expenses

6,656

5,320

Corporation tax liability

146,708

255,724

Deferred income

2,128,161

226,217

2,335,366

502,630

 

7

Financial commitments, guarantees and contingencies

The total amount of financial commitments under operating leases not included in the balance sheet is £28,333 (2023 - £Nil).

 

8

Related party transactions

Transactions with related company

At the end of the year, an amount of £330,000 (2023 - £275,000) was due from a related company which has no set repayment terms and no interest is charged.