JAPAN SKI EXPERIENCE LIMITED


Directors	ANBEEK, Justine
	SPILGIES, Lindsay Claire
	THORPE, Benjamin Patrick


Registered Address	Manor Farm Barn
	Blackford
	Yeovil
	BA22 7EE


Registered Number	08015157 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		11,434		3,935
Tangible assets	4		5,677		1,558
			17,111		5,493
Current assets
Debtors	5	776,041		403,920
Cash at bank and on hand		297,833		390,093
		1,073,874		794,013
Creditors amounts falling due within one year	6	(931,637)		(616,622)
Net current assets (liabilities)			142,237		177,391
Total assets less current liabilities			159,348		182,884
Creditors amounts falling due after one year			(10,444)		(43,133)
Provisions for liabilities	7		(4,808)		(4,025)
Net assets			144,096		135,726
Capital and reserves
Called up share capital			100		100
Profit and loss account			143,996		135,626
Shareholders' funds			144,096		135,726

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 30 December 2025, and are signed on its behalf by:

SPILGIES, Lindsay Claire
Director
Registered Company No. 08015157

JAPAN SKI EXPERIENCE LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from sale of goods
	Revenue represents the aggregate amount of fees, commissions and similar receivables in respect of travel agency activities as well as gross revenue derived from sales made in a principal capacity, net of VAT and trade discounts. Turnover is recognised on a booking date basis and invoices are raised when the Company is contractually entitled to the commissions and fees.

	Employee benefits
	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 the Profit and Loss Account 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.

Employee benefits

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 the Profit and Loss Account 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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	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.

	Tangible fixed assets and depreciation
	Tangible fixed assets 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. 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 the Profit and Loss Account. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets 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.

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 the Profit and Loss Account.

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Office Equipment	3

2.	Average number of employees


		2025		2024
	Average number of employees during the year	7		4

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 April 24	57,101
	Additions	11,000
	At 31 March 25	68,101
	Amortisation and impairment
	At 01 April 24	53,166
	Charge for year	3,501
	At 31 March 25	56,667
	Net book value
	At 31 March 25	11,434
	At 31 March 24	3,935

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 April 24	5,140
	Additions	5,805
	At 31 March 25	10,945
	Depreciation and impairment
	At 01 April 24	3,582
	Charge for year	1,686
	At 31 March 25	5,268
	Net book value
	At 31 March 25	5,677
	At 31 March 24	1,558

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	424,601	333,223
Other debtors	106,825	69,235
Prepayments and accrued income	244,615	1,462
Total	776,041	403,920


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Included in Trade debtors is a £1,663 (2024: £1,376) write-off of commission and fees in respect of bookings cancelled after the Balance Sheet date. This has been recognised in the Profit and Loss Account and included within Administrative expenses.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Included in Trade debtors is a £1,663 (2024: £1,376) write-off of commission and fees in respect of bookings cancelled after the Balance Sheet date. This has been recognised in the Profit and Loss Account and included within Administrative expenses.

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	385,701	309,668
Bank borrowings and overdrafts	40,223	45,534
Taxation and social security	15,912	33,391
Other creditors	6,150	15,050
Accrued liabilities and deferred income	483,651	212,979
Total	931,637	616,622


	Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at their fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. In July 2020, the company took out a £150,000 bank loan with a partial guarantee by the Secretary of State under the Coronavirus Business Interruption Loan Scheme. Interest on the loan is charged at a variable rate of 2.81% per annum over Base Rate. The government covered all interest payable in the first 12 months of the loan. The loan was fully drawn in July 2020 and is fully repayable 72 months after this date. This is included in Creditors within one year and after one year.

Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at their fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

In July 2020, the company took out a £150,000 bank loan with a partial guarantee by the Secretary of State under the Coronavirus Business Interruption Loan Scheme. Interest on the loan is charged at a variable rate of 2.81% per annum over Base Rate. The government covered all interest payable in the first 12 months of the loan. The loan was fully drawn in July 2020 and is fully repayable 72 months after this date.

This is included in Creditors within one year and after one year.

7.	Provisions 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 the Profit and Loss Account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet 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 Balance Sheet.

Provisions 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 the Profit and Loss Account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet 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 Balance Sheet.

	2025	2024
	£	£
Net deferred tax liability (asset)	4,808	4,025
Total	4,808	4,025

8.	Other commitments
	Pension commitments: 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 the Profit and Loss Account when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Other commitments

Pension commitments:

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 the Profit and Loss Account when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.