Company Registration No. 05649357 (England and Wales)
NATURAL WORLD SAFARIS LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
NATURAL WORLD SAFARIS LTD
COMPANY INFORMATION
Directors
W R Bolsover
G W Bolsover CBE
Mr J K Retallack
Company number
05649357
Registered office
Granta Lodge
71 Graham Road
Malvern
Worcestershire
WR14 2JS
Accountants
Kendall Wadley LLP
Granta Lodge
71 Graham Road
Malvern
Worcestershire
WR14 2JS
NATURAL WORLD SAFARIS LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 10
NATURAL WORLD SAFARIS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Intangible assets
3
34,054
45,405
Tangible assets
4
57,772
95,278
Investments
5
1
1
91,827
140,684
Current assets
Debtors
6
9,108,511
6,695,052
Cash at bank and in hand
800,288
1,226,627
9,908,799
7,921,679
Creditors: amounts falling due within one year
7
(10,242,171)
(7,372,838)
Net current (liabilities)/assets
(333,372)
548,841
Total assets less current liabilities
(241,545)
689,525
Creditors: amounts falling due after more than one year
8
(1,556,689)
(1,417,139)
Provisions for liabilities
Deferred tax liability
9
17,174
-
(17,174)
Net liabilities
(1,798,234)
(744,788)
Capital and reserves
Called up share capital
10,700
10,600
Profit and loss reserves
(1,808,934)
(755,388)
Total equity
(1,798,234)
(744,788)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
NATURAL WORLD SAFARIS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2021
31 December 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 16 August 2022 and are signed on its behalf by:
W R Bolsover
Director
Company Registration No. 05649357
NATURAL WORLD SAFARIS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2020
10,600
381,532
392,132
Year ended 31 December 2020:
Loss and total comprehensive income for the year
-
(1,080,649)
(1,080,649)
Dividends
-
(56,271)
(56,271)
Balance at 31 December 2020
10,600
(755,388)
(744,788)
Year ended 31 December 2021:
Loss and total comprehensive income for the year
-
(1,053,546)
(1,053,546)
Issue of share capital
100
-
100
Balance at 31 December 2021
10,700
(1,808,934)
(1,798,234)
NATURAL WORLD SAFARIS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
1
Accounting policies
Company information
Natural World Safaris Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Granta Lodge, 71 Graham Road, Malvern, Worcestershire, WR14 2JS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, on the basis of its trading performance and the availability of external investment support from a number of sources, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
true
1.3
Turnover
Turnover is recognised
at the point of departure of a tour
at the fair value of the consideration received or receivable for services provided in the normal course of business
.
1.4
Intangible fixed assets other than goodwill
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website and software
25% reducing balance
1.5
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
NATURAL WORLD SAFARIS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
1.6
Fixed asset investments
Interests in subsidiaries, are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.7
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Recoverable amount is the higher of fair value less costs to sell and value in use.
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in
profit
or
loss
.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the
asset
is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset
in
prior years. A reversal of an impairment loss is recognised immediately in
profit
or
loss
.
1.8
Cash at bank and in hand
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less
.
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including
creditors
, are
initially recognised at transaction price.
Financial liabilities classified as payable within one year are not amortised.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
Trade creditors
are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
NATURAL WORLD SAFARIS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 6 -
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
1.13
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
NATURAL WORLD SAFARIS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 7 -
1.14
Foreign exchange
Transactions in currencies other than
pounds sterling
are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was
:
2021
2020
Number
Number
Total
18
28
3
Intangible fixed assets
Website and software
£
Cost
At 1 January 2021 and 31 December 2021
73,370
Amortisation and impairment
At 1 January 2021
27,965
Amortisation charged for the year
11,351
At 31 December 2021
39,316
Carrying amount
At 31 December 2021
34,054
At 31 December 2020
45,405
NATURAL WORLD SAFARIS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 8 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021
375,685
Additions
3,847
At 31 December 2021
379,532
Depreciation and impairment
At 1 January 2021
280,407
Depreciation charged in the year
41,353
At 31 December 2021
321,760
Carrying amount
At 31 December 2021
57,772
At 31 December 2020
95,278
5
Fixed asset investments
2021
2020
£
£
Shares in group undertakings and participating interests
1
1
Fixed asset investments not carried at market value
The fixed asset investment represents a 50% interest in Natural Photography Safaris Limited, a company incorporated in England and Wales.
6
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
4,692,436
3,060,245
Corporation tax recoverable
15,725
65,647
Other debtors
135,023
132,961
Prepayments and accrued income
4,265,327
3,436,199
9,108,511
6,695,052
NATURAL WORLD SAFARIS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 9 -
7
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
105,571
24,853
Trade creditors
2,444,116
1,851,755
Corporation tax
800
15,396
Other taxation and social security
28,445
36,960
Other creditors
7,663,239
5,443,874
10,242,171
7,372,838
8
Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
1,556,689
1,417,139
9
Deferred taxation
Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
Liabilities
Liabilities
2021
2020
Balances:
£
£
Accelerated Capital Allowances
-
18,103
Retirement benefit obligations
-
(929)
-
17,174
2021
Movements in the year:
£
Liability at 1 January 2021
17,174
Credit to profit or loss
(17,174)
Liability at 31 December 2021
-
NATURAL WORLD SAFARIS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 10 -
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2021
2020
£
£
44,802
56,003
11
Events after the reporting date
The directors note the continued impact of the Covid-19 pandemic and the difficulties around forecasting when travel will return to a level in line with that of previous periods.
The directors maintain a diligent approach to cashflow reporting and continue to work with suppliers to limit exposure in relation to both travel that is happening whilst a myriad of international restrictions remain in place, and for future travel.
12
Related party transactions
Dividends totalling £0 (2020 - £56,271) were paid in the year in respect of shares held by the company's directors.
Advances of £42,561 are due from a director. The amounts are unsecured and carry interest at the official rate for beneficial loans. The amount advanced during the year is £1,038 in respect of the interest due and £42,561 represents the maximum indebtedness in the period.
2021-12-31
2021-01-01
false
16 August 2022
CCH Software
CCH Accounts Production 2022.200
No description of principal activity
W R Bolsover
G W Bolsover CBE
Mrs C Bolsover
Mr J K Retallack
Ms C Payne
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