Caseware UK (AP4) 2024.0.164 2024.0.164 2025-08-31 2025-08-31 true true true true true true true true true true true true true 8 true true false 2024-09-01 false No description of principal activity 8 true 03555561 2024-09-01 2025-08-31 03555561 2023-09-01 2024-08-31 03555561 2025-08-31 03555561 2024-08-31 03555561 2023-09-01 03555561 c:Director3 2024-09-01 2025-08-31 03555561 c:Director4 2024-09-01 2025-08-31 03555561 c:Director5 2024-09-01 2025-08-31 03555561 c:RegisteredOffice 2024-09-01 2025-08-31 03555561 d:ComputerEquipment 2024-09-01 2025-08-31 03555561 d:ComputerEquipment 2025-08-31 03555561 d:ComputerEquipment 2024-08-31 03555561 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-09-01 2025-08-31 03555561 d:CurrentFinancialInstruments 2025-08-31 03555561 d:CurrentFinancialInstruments 2024-08-31 03555561 d:Non-currentFinancialInstruments 2025-08-31 03555561 d:Non-currentFinancialInstruments 2024-08-31 03555561 d:CurrentFinancialInstruments d:WithinOneYear 2025-08-31 03555561 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 03555561 d:Non-currentFinancialInstruments d:AfterOneYear 2025-08-31 03555561 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 03555561 d:ShareCapital 2024-09-01 2025-08-31 03555561 d:ShareCapital 2025-08-31 03555561 d:ShareCapital 2023-09-01 2024-08-31 03555561 d:ShareCapital 2024-08-31 03555561 d:ShareCapital 2023-09-01 03555561 d:RetainedEarningsAccumulatedLosses 2024-09-01 2025-08-31 03555561 d:RetainedEarningsAccumulatedLosses 2025-08-31 03555561 d:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 03555561 d:RetainedEarningsAccumulatedLosses 2024-08-31 03555561 d:RetainedEarningsAccumulatedLosses 2023-09-01 03555561 c:OrdinaryShareClass1 2024-09-01 2025-08-31 03555561 c:OrdinaryShareClass1 2025-08-31 03555561 c:OrdinaryShareClass1 2024-08-31 03555561 c:FRS101 2024-09-01 2025-08-31 03555561 c:Audited 2024-09-01 2025-08-31 03555561 c:FullAccounts 2024-09-01 2025-08-31 03555561 c:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 03555561 c:SmallCompaniesRegimeForAccounts 2024-09-01 2025-08-31 03555561 d:FinancialLiabilitiesAmortisedCost 2024-09-01 2025-08-31 03555561 e:PoundSterling 2024-09-01 2025-08-31 xbrli:shares iso4217:GBP xbrli:pure

Company registration number: 03555561
| FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 AUGUST 2025
| TOURVEST DESTINATION MANAGEMENT UK LIMITED
TOURVEST DESTINATION MANAGEMENT UK LIMITED |  |
COMPANY INFORMATION
Directors | Mr M Wiest
| Mr B Coetzee
| Mr M B Nicholls
Registered number | 03555561
Registered office | 4th Floor
| 95 Gresham Street
| London
| EC2V 7AB
Independent auditor | Menzies LLP
| 4th Floor
| 95 Gresham Street
| London
| EC2V 7AB
TOURVEST DESTINATION MANAGEMENT UK LIMITED |  |
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Statement of Changes in Equity | 3
Notes to the Financial Statements | 4 - 12
TOURVEST DESTINATION MANAGEMENT UK LIMITED REGISTERED NUMBER:03555561 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 3,811 |  | 2,160
|  |  | 3,811 |  | 2,160
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 609,462 |  | 590,839 |
Cash at bank and in hand |  | 1,026,213 |  | 824,753 |
|  | 1,635,675 |  | 1,415,592 |
Creditors: amounts falling due within one year | 6 | (1,350,642) |  | (1,093,826) |
Net current assets |  |  | 285,033 |  | 321,766
Total assets less current liabilities |  |  | 288,844 |  | 323,926
Creditors: amounts falling due after more than one year | 7 |  | (941,750) |  | (1,037,243)
|  |  | (652,906) |  | (713,317)
Net liabilities |  |  | (652,906) |  | (713,317)
Capital and reserves |  |  |  |  |
Called up share capital | 8 |  | 2 |  | 2
Profit and loss account | 9 |  | (652,908) |  | (713,319)
|  |  | (652,906) |  | (713,317)
Page 1
TOURVEST DESTINATION MANAGEMENT UK LIMITED REGISTERED NUMBER:03555561 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 AUGUST 2025 The Company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. 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:
................................................ Mr B Coetzee
Director
Date: 15 December 2025
The notes on pages 4 to 12 form part of these financial statements. Page 2
TOURVEST DESTINATION MANAGEMENT UK LIMITED |  |
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 AUGUST 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 September 2023 | 2 | (919,467) | (919,465)
Comprehensive income for the year |  |  |
Profit for the year | - | 206,148 | 206,148
Other comprehensive income for the year | - | - | -
Total comprehensive income for the year | - | 206,148 | 206,148
Total transactions with owners | - | - | -
At 1 September 2024 | 2 | (713,319) | (713,317)
Comprehensive income for the year |  |  |
Profit for the year | - | 60,411 | 60,411
Other comprehensive income for the year | - | - | -
Total comprehensive income for the year | - | 60,411 | 60,411
Total transactions with owners | - | - | -
At 31 August 2025 | 2 | (652,908) | (652,906)
| The notes on pages 4 to 12 form part of these financial statements.
Page 3
TOURVEST DESTINATION MANAGEMENT UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. | General information
Tourvest Destination Management UK Limited is a private company limited by shares, incorporated in England & Wales under the Companies Act. The address of the registered office is 4th Floor 95 Gresham Street, London, United Kingdom, EC2V 7AB. The company's principal place of business is One Crown Square, Church Street East, Woking, Surrey, GU21 6HR. The principal activity of the Company is the sale of sports travel products. 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 Financial Reporting Standard 101 'Reduced Disclosure Framework' and the Companies Act 2006. The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied: Page 4
TOURVEST DESTINATION MANAGEMENT UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.2 | Financial Reporting Standard 101 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions under FRS 101: ∙the requirements of paragraphs 45(b) and 46-52 of IFRS 2 Share-based payment ∙the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations ∙the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held For Sale and Discontinued Operations ∙the requirement of paragraph 24(b) of IFRS 6 Exploration for and Evaluation of Mineral Resources to disclose the operating and investing cash flows arising from the exploration for and evaluation of mineral resources ∙the requirements of IFRS 7 Financial Instruments: Disclosures ∙the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement ∙the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers ∙the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases. The requirements of paragraph 58 of IFRS 16, provided that the disclosure of details in indebtedness relating to amounts payable after 5 years required by company law is presented separately for lease liabilities and other liabilities, and in total ∙the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of: - paragraph 79(a)(iv) of IAS 1; - paragraph 73(e) of IAS 16 Property, Plant and Equipment; - paragraph 118(e) of IAS 38 Intangible Assets; - paragraphs 76 and 79(d) of IAS 40 Investment Property; and - paragraph 50 of IAS 41 Agriculture ∙the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements ∙the requirements of IAS 7 Statement of Cash Flows ∙the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors ∙the requirements of paragraph 74A(b) of IAS 16 ∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures ∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member ∙the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets. This information is included in the consolidated financial statements of Tourvest Africa (Pty) Limited as at 31 August 2025 and these financial statements may be obtained from Stonewedge Office Park, 1 Wedgewood Link Road, Bryanston, Johannesburg, 2021, South Africa. Page 5
TOURVEST DESTINATION MANAGEMENT UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.3 | Going concern
The financial statements for the company are prepared on the going concern basis. In making this assessment, the directors have reviewed the company's forecast for the 12 months following the signing of the financial statements, which shows that the company will be able to meet its obligations as and when they fall due. The directors have also considered how sensitive this forecast is to reasonably possible scenarios and are satisfied that the company will have sufficient headroom were these scenarios to materialise. Further, the ultimate parent company has confirmed its willingness to provide additional funding to the company to meet its short term obligations as and when they fall due if such additional funding is needed.
| 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.
| 2.5 | Revenue
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. The following criteria must also be met before revenue is recognised: The Company does not expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence, the Company does not adjust any of the transaction prices for the time value of money. A receivable is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due. Rendering of services Revenue from providing services is recognised in the accounting period in which the services are rendered, namely being when the date of travel, stay or event as appropriate. For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously.
| 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. Page 6
TOURVEST DESTINATION MANAGEMENT UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | 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.
| 2.9 | 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.
| 2.10 | 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, using a combination of straight-line and reducing balance method. Depreciation is provided on the following basis:
|  |  |  | Computer equipment | - | 33% 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.
| 2.11 | 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. Page 7
TOURVEST DESTINATION MANAGEMENT UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.12 | 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 profit or loss 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.
| 2.13 | Financial instruments
The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below: Financial assets and financial liabilities are initially measured at fair value. Financial assets All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets. Impairment of financial assets The Company always recognises lifetime ECL for trade receivables and amounts due on contracts with customers. The expected credit losses on these financial assets are estimated based on the Company's historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate. Lifetime ECL represents the expected credit losses that will result from all possible default events over the expected life of a financial instrument. Financial liabilities At amortised cost Financial liabilities which are neither contingent consideration of an acquirer in a business combination, held for trading, nor designated as at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. This is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or where appropriate a shorter period, to the amortised cost of a financial liability. Page 8
TOURVEST DESTINATION MANAGEMENT UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
3. | Employees
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 485,159 | 520,373
| Social security costs | 45,333 | 55,471
| Cost of defined contribution scheme | 10,095 | 12,181
|  | 540,587 | 588,025
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Average number of employees | 8 | 8
Page 9
TOURVEST DESTINATION MANAGEMENT UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
4. | Tangible fixed assets
|  | Computer equipment
|  | £
| Cost or valuation |
| At 1 September 2024 | 15,386
| Additions | 3,528
| At 31 August 2025 | 18,914
| Depreciation |
| At 1 September 2024 | 13,226
| Charge for the year on owned assets | 1,877
| At 31 August 2025 | 15,103
| Net book value |
| At 31 August 2025 | 3,811
| At 31 August 2024 | 2,160
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 107,335 | 15,853
| Amounts owed by group undertakings | 853 | 8,208
| Other debtors | 48,040 | 205,372
| Prepayments | 453,234 | 361,406
|  | 609,462 | 590,839
| Amounts due from group undertakings are unsecured and repayable on demand.
Page 10
TOURVEST DESTINATION MANAGEMENT UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 7,406 | 10,649
| Trade creditors | 93,933 | 67,865
| Other taxation and social security | 12,911 | 12,913
| Other creditors | 334,863 | 282,886
| Accruals and deferred income | 901,529 | 719,513
|  | 1,350,642 | 1,093,826
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 7,406
| Amounts owed to group undertakings | 941,750 | 1,029,837
|  | 941,750 | 1,037,243
8. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2 (2024 - 2) Ordinary shares of £1.00 each | 2 | 2
9. | Reserves
Profit and loss account The reserve records retained earnings and accumulated losses.
10. | Capital commitments
The Company had no capital commitments at 31 August 2025 (2024: £Nil).
11. | Pension commitments
The Company operates a defined contributions pension scheme. At the balance sheet date, pension contributions totaling £Nil (2024: £Nil) were payable. Page 11
TOURVEST DESTINATION MANAGEMENT UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
12. | Related party transactions
| The Company has entered into the following related party transactions and/or hold the following balances at the year end. Included within creditors is a balance of £941,750 (2024: £877,516) including interest accrued due to Tourvest Holdings (Pty) Ltd, an intermediate parent entity. The balance outstanding at 31 August 2025 is subordinated and as such is classified as falling due after more than one year. Included within creditors is a balance of £Nil (2024: £152,321) due to African Tourism Holdings (Pty) Ltd, the immediate parent entity. The loan was interest free.
13. | Ultimate parent company
The immediate parent company is African Tourism Holdings (Pty) Ltd, a company incorporated in Mauritius, whose registered office is Level 3, Alexander House, 35 Cybercity, Ebene 72201. The ultimate parent company, for which consolidated financial statements are drawn up, is Tourvest Africa (Pty) Ltd, a company registered in South Africa. The parent company's registered office is: Stonewedge Office Park, 1 Wedgewood Link Road, Bryanston, 2021.
14. | Auditor's information
The auditor's report on the financial statements for the year ended 31 August 2025 was unqualified. The audit report was signed on 15 December 2025 by Nimita Chan FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.
Page 12