Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31false112024-01-01Tour operator activities11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02890545 2024-01-01 2024-12-31 02890545 c:KeyManagementIndividualGroup3 2024-01-01 2024-12-31 02890545 c:KeyManagementIndividualGroup2 2024-01-01 2024-12-31 02890545 c:KeyManagementIndividualGroup1 2024-01-01 2024-12-31 02890545 2023-01-01 2023-12-31 02890545 2024-12-31 02890545 c:KeyManagementIndividualGroup3 2024-12-31 02890545 c:KeyManagementIndividualGroup2 2024-12-31 02890545 2023-12-31 02890545 c:KeyManagementIndividualGroup2 2023-12-31 02890545 d:Director1 2024-01-01 2024-12-31 02890545 d:Director2 2024-01-01 2024-12-31 02890545 d:Director3 2024-01-01 2024-12-31 02890545 d:Director3 2024-12-31 02890545 d:RegisteredOffice 2024-01-01 2024-12-31 02890545 c:Buildings c:ShortLeaseholdAssets 2024-01-01 2024-12-31 02890545 c:Buildings c:ShortLeaseholdAssets 2024-12-31 02890545 c:Buildings c:ShortLeaseholdAssets 2023-12-31 02890545 c:MotorVehicles 2024-01-01 2024-12-31 02890545 c:MotorVehicles 2024-12-31 02890545 c:MotorVehicles 2023-12-31 02890545 c:MotorVehicles c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02890545 c:FurnitureFittings 2024-01-01 2024-12-31 02890545 c:FurnitureFittings 2024-12-31 02890545 c:FurnitureFittings 2023-12-31 02890545 c:FurnitureFittings c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02890545 c:OfficeEquipment 2024-01-01 2024-12-31 02890545 c:OfficeEquipment 2024-12-31 02890545 c:OfficeEquipment 2023-12-31 02890545 c:OfficeEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02890545 c:ComputerEquipment 2024-01-01 2024-12-31 02890545 c:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 02890545 c:OtherPropertyPlantEquipment 2024-12-31 02890545 c:OtherPropertyPlantEquipment 2023-12-31 02890545 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02890545 c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02890545 c:CurrentFinancialInstruments 2024-12-31 02890545 c:CurrentFinancialInstruments 2023-12-31 02890545 c:Non-currentFinancialInstruments 2024-12-31 02890545 c:Non-currentFinancialInstruments 2023-12-31 02890545 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 02890545 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 02890545 c:Non-currentFinancialInstruments c:AfterOneYear 2024-12-31 02890545 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 02890545 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-12-31 02890545 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-12-31 02890545 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-12-31 02890545 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-12-31 02890545 c:ShareCapital 2024-12-31 02890545 c:ShareCapital 2023-12-31 02890545 c:OtherMiscellaneousReserve 2024-01-01 2024-12-31 02890545 c:OtherMiscellaneousReserve 2024-12-31 02890545 c:OtherMiscellaneousReserve 2023-12-31 02890545 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 02890545 c:RetainedEarningsAccumulatedLosses 2024-12-31 02890545 c:RetainedEarningsAccumulatedLosses 2023-12-31 02890545 c:AcceleratedTaxDepreciationDeferredTax 2024-12-31 02890545 c:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02890545 d:OrdinaryShareClass1 2024-01-01 2024-12-31 02890545 d:OrdinaryShareClass1 2024-12-31 02890545 d:OrdinaryShareClass1 2023-12-31 02890545 d:FRS102 2024-01-01 2024-12-31 02890545 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 02890545 d:FullAccounts 2024-01-01 2024-12-31 02890545 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02890545 2 2024-01-01 2024-12-31 02890545 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 02890545










DISCOVER ADVENTURE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
DISCOVER ADVENTURE LIMITED
 
 
COMPANY INFORMATION


Directors
J E Bryan 
J G Bryan 
R Fielding (appointed 1 August 2024)




Registered number
02890545



Registered office
Throope Down Office
Blandford Road

Salisbury

SP5 4LN




Accountants
Xeinadin London Limited

36 Old Jewry

London

EC2R 8DD





 
DISCOVER ADVENTURE LIMITED
 

CONTENTS



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


 
DISCOVER ADVENTURE LIMITED
REGISTERED NUMBER: 02890545

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
51,539
61,328

  
51,539
61,328

Current assets
  

Stocks
 5 
17,261
19,069

Debtors
 6 
307,277
137,520

Cash at bank and in hand
 7 
733,768
688,313

  
1,058,306
844,902

Creditors: amounts falling due within one year
 8 
(676,945)
(511,398)

Net current assets
  
 
 
381,361
 
 
333,504

Total assets less current liabilities
  
432,900
394,832

Creditors: amounts falling due after more than one year
 9 
(86,293)
(130,216)

Provisions for liabilities
  

Deferred tax
 11 
(6,105)
(8,510)

  
 
 
(6,105)
 
 
(8,510)

Net assets
  
340,502
256,106


Capital and reserves
  

Called up share capital 
 12 
30,000
30,000

Other reserves
 13 
8,638
8,638

Profit and loss account
 13 
301,864
217,468

  
340,502
256,106


Page 1

 
DISCOVER ADVENTURE LIMITED
REGISTERED NUMBER: 02890545
    
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 by: 




J G Bryan
Director

Date: 2 June 2025

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

Page 2

 
DISCOVER ADVENTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Discover Adventure Limited is a private company limited by shares incorporated in England and Wales, United Kingdom.
The address of the registered office is given in the company information of these financial statements.

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.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Revenue

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

  
2.4

Advance receipts and payments

All revenue relating to tours with departure dates after the year end is treated as advance receipts at the Balance Sheet date and is included within the deferred income balance in the accounts. Payments made to suppliers in respect of these tours are included within the prepayments balance in the accounts.

 
2.5

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.

Page 3

 
DISCOVER ADVENTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

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.

 
2.10

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.


Page 4

 
DISCOVER ADVENTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10%
Reducing Balance
Motor vehicles
-
25%
Reducing Balance
Fixtures and fittings
-
20%
Reducing Balance
Office equipment
-
15%
- 25% Reducing Balance
Computer equipment
-
33%
Reducing Balance
Other fixed assets
-
10%
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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Page 5

 
DISCOVER ADVENTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.15

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.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
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.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

 
2.18

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 directors, during the year was 11 (2023 - 11).

Page 6

 
DISCOVER ADVENTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Short-term leasehold property
Motor vehicles
Fixtures and fittings
Office and computer equipment
Other fixed assets
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2024
27,718
72,772
149,895
165,898
45,223
461,506


Additions
-
-
-
1,473
2,103
3,576



At 31 December 2024

27,718
72,772
149,895
167,371
47,326
465,082



Depreciation


At 1 January 2024
11,434
68,259
136,592
141,748
42,145
400,178


Charge for the year on owned assets
1,628
1,128
3,326
6,135
1,148
13,365



At 31 December 2024

13,062
69,387
139,918
147,883
43,293
413,543



Net book value



At 31 December 2024
14,656
3,385
9,977
19,488
4,033
51,539



At 31 December 2023
16,284
4,513
13,303
24,150
3,078
61,328


5.


Stocks

2024
2023
£
£

Stock
17,261
19,069

17,261
19,069


Page 7

 
DISCOVER ADVENTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors


2024
2023
£
£



Trade debtors
42,400
3,425

Amounts owed by group undertakings
46,849
-

Other debtors
24,274
41,994

Prepayments and accrued income
193,754
92,101

307,277
137,520


Included within "prepayments and accrued income" are amounts relating to payments in advance to suppliers for holidays departing after the year end, the total of which amounts to £165,083 (2023: £69,687).


7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
733,768
688,313

733,768
688,313



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
60,000
60,000

Trade creditors
7,768
8,249

Amounts owed to group undertakings
-
1,911

Corporation tax
37,250
30,313

Other taxation and social security
5,875
8,880

Other creditors
36,740
96,679

Accruals and deferred income
529,312
305,366

676,945
511,398


Included within "Accruals and deferred income" above are amounts relating to customer monies held on account for holidays departing after the year end, the total of which amount to £513,299 (2023: £294,965).

Page 8

 
DISCOVER ADVENTURE 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
£
£

Bank loans
65,000
125,000

Accruals and deferred income
21,293
5,216

86,293
130,216


Included within "Accruals and deferred income" above are amounts relating to customer monies held on account for holidays departing more than one year after the year end, the total of which amount to £21,293 (2023:£5,216).


10.


Loans

In 2021, a Coronavirus Business Interruption Loan (CBIL) was taken by the Company amounting to £300,000, replacing the previous loan of £250,000.



Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
60,000
60,000


60,000
60,000

Amounts falling due 1-2 years

Bank loans
65,000
65,000


65,000
65,000

Amounts falling due 2-5 years

Bank loans
-
60,000


-
60,000


125,000
185,000


Page 9

 
DISCOVER ADVENTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Deferred taxation




2024


£






At beginning of year
(8,510)


Charged to profit or loss
2,405



At end of year
(6,105)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(6,105)
(8,510)

(6,105)
(8,510)


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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



13.


Reserves

Other reserves

This represents a share based payment reserve. Includes the fair value of share options expected to vest less the fair value of exercised share options.

Profit and loss account

Includes all current and prior period retained profits and losses.

Page 10

 
DISCOVER ADVENTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Share-based payments

Key employees participate in the Enterprise Management Incentive employee share option scheme which
provides certain employees with the right to purchase shares in the event of a share sale, or an asset
sale or a listing.
The options which are granted with an exercise price equal to the nominal value of the shares, are
exercisable on the date that an exit occurs and expire ten years after the date of the grant. Vesting of the
options is subject to the employee continuing to work for the company for at least twenty five hours a
week or 75% of their working time.
The company is unable to directly measure the fair value of employee services rendered. Instead the fair
value of the share options granted is determined using the market value of shares calculated using the
earnings per share as this is a well recognised model for valuing unquoted businesses.

Weighted average exercise price (pence)
2024
Number
2024
Weighted average exercise price
(pence)
2023
Number
2023

Outstanding at the beginning of the year

100

1,580

100
 
1,580
 
Outstanding at the end of the year
100

1,580

100
 
1,580
 





15.


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 £15,100 (2023 £40,973). Contributions totalling £Nil (2023: £Nil) were payable to the fund at the reporting date and are included in creditors.


16.


Related party transactions

At the balance sheet date the company was owed £46,849 (2023: £1,911 owed to) from JJ Bryan Enterprises Limited, a company under common control.
At the balance sheet date the company owes £15 (2023: £69 owed from Mr J G Bryan) to Mr J G Bryan, a director in the company.
At the balance sheet date the company owes £7,401 (2023: £2,533) to Mrs J E Bryan, a director in the company.

At the balance sheet date the company owes £171 to Mr R Fielding, a director in the company.
Page 11

 
DISCOVER ADVENTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

17.


Controlling party

The controlling party is Mr J G Bryan by virtue of his majority shareholding in the company.

 
Page 12