Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30122023-10-01falseTour operator and travel agent12falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01136085 2023-10-01 2024-09-30 01136085 2022-10-01 2023-09-30 01136085 2024-09-30 01136085 2023-09-30 01136085 c:CompanySecretary1 2023-10-01 2024-09-30 01136085 c:Director1 2023-10-01 2024-09-30 01136085 c:RegisteredOffice 2023-10-01 2024-09-30 01136085 d:Buildings 2023-10-01 2024-09-30 01136085 d:Buildings 2024-09-30 01136085 d:Buildings 2023-09-30 01136085 d:Buildings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01136085 d:LandBuildings 2024-09-30 01136085 d:LandBuildings 2023-09-30 01136085 d:PlantMachinery 2023-10-01 2024-09-30 01136085 d:PlantMachinery 2024-09-30 01136085 d:PlantMachinery 2023-09-30 01136085 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01136085 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01136085 d:ComputerSoftware 2024-09-30 01136085 d:ComputerSoftware 2023-09-30 01136085 d:FreeholdInvestmentProperty 2024-09-30 01136085 d:FreeholdInvestmentProperty 2023-09-30 01136085 d:CurrentFinancialInstruments 2024-09-30 01136085 d:CurrentFinancialInstruments 2023-09-30 01136085 d:Non-currentFinancialInstruments 2024-09-30 01136085 d:Non-currentFinancialInstruments 2023-09-30 01136085 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 01136085 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 01136085 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 01136085 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 01136085 d:ShareCapital 2024-09-30 01136085 d:ShareCapital 2023-09-30 01136085 d:RevaluationReserve 2023-10-01 2024-09-30 01136085 d:RevaluationReserve 2024-09-30 01136085 d:RevaluationReserve 2023-09-30 01136085 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 01136085 d:RetainedEarningsAccumulatedLosses 2024-09-30 01136085 d:RetainedEarningsAccumulatedLosses 2023-09-30 01136085 c:FRS102 2023-10-01 2024-09-30 01136085 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 01136085 c:FullAccounts 2023-10-01 2024-09-30 01136085 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01136085 d:EntityControlledByKeyManagementPersonnel1 2023-10-01 2024-09-30 01136085 d:EntityControlledByKeyManagementPersonnel1 2024-09-30 01136085 d:EntityControlledByKeyManagementPersonnel1 2023-09-30 01136085 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 01136085










STOKE NEWINGTON TRAVEL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
STOKE NEWINGTON TRAVEL LIMITED
 
 
COMPANY INFORMATION


Director
S Dyer 




Company secretary
A Joseph



Registered number
01136085



Registered office
168 Stoke Newington Road
Stoke Newington

London

N16 7UY




Accountants
Xeinadin London Limited

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD





 
STOKE NEWINGTON TRAVEL LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 12


 
STOKE NEWINGTON TRAVEL LIMITED
REGISTERED NUMBER: 01136085

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
1,177,552
1,189,307

Investment property
 7 
412,500
412,500

  
1,590,052
1,601,807

Current assets
  

Debtors: amounts falling due within one year
 8 
386,591
501,773

Cash at bank and in hand
  
207,118
70,725

  
593,709
572,498

Creditors: amounts falling due within one year
 9 
(866,057)
(869,853)

Net current liabilities
  
 
 
(272,348)
 
 
(297,355)

Total assets less current liabilities
  
1,317,704
1,304,452

Creditors: amounts falling due after more than one year
 10 
(123,768)
(147,495)

  

Net assets
  
1,193,936
1,156,957


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Revaluation reserve
 11 
1,587,719
1,587,719

Profit and loss account
 11 
(443,783)
(480,762)

  
1,193,936
1,156,957


Page 1

 
STOKE NEWINGTON TRAVEL LIMITED
REGISTERED NUMBER: 01136085
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers 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 director acknowledges her 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 by: 




S Dyer
Director

Date: 29 January 2025

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
STOKE NEWINGTON TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Stoke Newington Travel Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is given in the company information of these financial statements. The nature of the company's operations and the principal activity continued to be that of a tour operator and  travel agent. 

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

Turnover represents the gross value to customers for air tickets, travel insurance, hotel bookings and sundry related services net of VAT and trade discounts. Income is recognised on a departure date basis including non refundable margin on holidays booked.

  
2.3

Intangible assets

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 fixed assets are stated at cost less amortisation. Amortisation is provided at rates calculated to write off the cost of the assets over their expected useful lives on the following basis:
Website development - 5 years straight line

Page 3

 
STOKE NEWINGTON TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

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'.

  
2.5

Advanced Receipts and Payments

All revenue relating to tours with departure dates after the year end, less the margin on non-refundable tours booked in the year, are treated as advance receipts at the balance sheet date and are separately disclosed under accruals and deferred income. Payments made to suppliers in respect of these tours are included in prepayments and accrued income.

 
2.6

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.

 
2.7

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

 
STOKE NEWINGTON TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Taxation

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.


 
2.9

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, as set out below.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Plant and machinery
-
20% reducing balance

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.

  
2.10

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Statement of financial position date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in the other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in the statement of comprehensive income.

Page 5

 
STOKE NEWINGTON TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

Investment property

Investment property is carried at fair value, determined by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Statement of financial position date. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.12

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.

 
2.13

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.


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. These estimates and associated assumptions are based on historical experience and other factors that are recognised to be relevant. Actual results may differ from these estimates. These estimates include depreciation of tangible fixed assets, and amortisation of intangible fixed assets.


4.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 12).

Page 6

 
STOKE NEWINGTON TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Intangible assets




Website Costs

£



Cost


At 1 October 2023
130,085



At 30 September 2024

130,085



Amortisation


At 1 October 2023
130,085



At 30 September 2024

130,085



Net book value



At 30 September 2024
-



At 30 September 2023
-



Page 7

 
STOKE NEWINGTON TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Tangible fixed assets





Freehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 October 2023
1,237,500
145,333
1,382,833


Additions
-
208
208



At 30 September 2024

1,237,500
145,541
1,383,041



Depreciation


At 1 October 2023
58,800
134,726
193,526


Charge for the year on owned assets
9,800
2,163
11,963



At 30 September 2024

68,600
136,889
205,489



Net book value



At 30 September 2024
1,168,900
8,652
1,177,552



At 30 September 2023
1,178,700
10,607
1,189,307




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
1,168,900
1,178,700

1,168,900
1,178,700


Cost or valuation at 30 September 2024 is as follows:

Land and buildings
£


At cost
52,500
At valuation:

Revaluation at 30 September 2017
1,185,000



1,237,500

Page 8

 
STOKE NEWINGTON TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

           6.Tangible fixed assets (continued)

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
52,500
52,500

Net book value
52,500
52,500


7.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
412,500



At 30 September 2024
412,500

The 2024 valuations were made by the Director, on an open market value for existing use basis.





Comprising


Cost
17,500

Annual revaluation surplus/(deficit):

2015
282,500

2016
34,410

2016
39,045

2017
39,045

412,500

The 2024 valuations were made by the Director, on an open market value for existing use basis.

Page 9

 
STOKE NEWINGTON TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Debtors



2024
2023
£
£


Trade debtors
750
38,067

Other debtors
4,718
18,248

Prepayments and accrued income
381,123
445,458

386,591
501,773


Prepayments and accrued income above includes payments made to suppliers for future travel amounting to £379,346 (2023: £445,458).


9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
25,000
25,000

Trade creditors
7,923
14,434

Other taxation and social security
6,212
5,941

Other creditors
45,716
32,897

Accruals and deferred income
781,206
791,581

866,057
869,853


Accruals and deferred income includes net payments received from customers in advance in relation to future bookings amounting to £781,206 (2023: £791,581).
In June 2020 the company secured a bank loan of £125,000 through a Coronovirus Business Interruption Loan. This loan is secured by a first charge over the land and buildings of the company. 

As at 30 September 2024 the BSP liability was £25,956 (2023: £59,323).

Page 10

 
STOKE NEWINGTON TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
18,750
43,750

Other loans
95,000
95,000

Accruals and deferred income
10,018
8,745

123,768
147,495


Accruals and deferred income includes net payments received from customers in advance in relation to future bookings amounting to £10,018 (2023: £8,745).
The £95,000 (2023: £95,000) has been subordinated in accordance with the terms set out by the Civil Aviation Authority (CAA). This means the £95,000 cannot be repaid whilst the Company holds an Air Travel Organisers' License unless written consent has been received from the CAA and all other liabilities incurred by the Company in the period which it held an Air Travel Organiser's License have been satisfied.


11.


Reserves

Revaluation reserve

Revaluation reserve records the surplus arising on the valuation of property held for own use by the company in prior years.

Profit and loss account

Profit and loss includes all current and prior periods retained profit. Included within the profit and loss
account, there are non-distributable reserves of £112,500 (2023: £112,500)


12.


Regulatory requirements and contingent liabilities

The company currently holds an Air Travel Organisers’ License (‘ATOL’) issued by the Civil Aviation Authority (‘CAA’) and is an accredited agent of the International Air Transport Association (‘IATA’).
As of 30 September 2024, the company had in place an insurance backed bond with the CAA amounting to £50,000.

As at 30 September the company had no other material contingent liabilities.


13.


Related party transactions

Included in other debtors is a balance of £2,927 (2023: £13,003) owed by SN Travel Global Limited, a connected company. This is a company based in Caribbean & is owned by the director Sandra Dyer. 

Page 11

 
STOKE NEWINGTON TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

14.


Controlling party

The company is controlled by the director, by virtue of a majority shareholding.

 
Page 12