Registered number: SC202170
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
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JOURNEYCALL LIMITED
COMPANY INFORMATION
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JOURNEYCALL LIMITED
CONTENTS
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JOURNEYCALL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023
Journeycall Limited is a company incorporated and based in Scotland that prospers as a result of the excellence and value of their highly focussed, non scripted, knowledge-based contact centre services delivered by a large team of highly trained agents. Since Journeycall moved to their impressive new offices at Arbroath in November 2014 the business has flourished in an environment that promotes services excellence whilst providing scope for business expansion. Investment in research and development is highly important to support Journeycall's future growth strategy and 2021 saw the continued deployment of Delay-Check, one of the most technically advanced delay-repay software solutions on the market. Significant investment in Cloud based telephony systems provides rapid scalability, resilience and virtual options for multi-language support.
The main area of business revolves around non-scripted contact centre support services primarily for smartcard and mobile app based schemes in the mass transit sector; information services to the public; PCI Level 1 accredited payment processing; discounted travel tokens; claims management and ticket retailing. Therefore, the company is affected by charges in the trends in public transport choices. However, the Directors ensure that the business stays informed and in most areas ahead of he changes in public transport consumer trends and has created an environment where Journeycall can respond and deliver into what is not a multi-modal, multi-channel requirement across all demographics.
The commitment of the directors was a strategic focus on consolidation across the Group during the current financial year reflecting a commitment to enhancing operational efficiency, financial synergy, and overall performance. The achieved milestones and ongoing efforts position the company for sustained success and strategic growth in an increasingly competitive business landscape. The directors remain dedicated to maximising the benefits of consolidation and fostering a culture of continuous improvement within the organisation.
1.Risk of Change in Technology and Sector Requirements
2. Continued Exchange Fluctuation 3. Increased Labour Costs 4. Adaptation to Market Trends and Demands 5. The Emergence of New Operators It is crucial as we operate in such a dynamic industry, such as technology, to be proactive in addressing potential risks. The commitment to research and development, along with a strategic approach to currency risk management whilst putting our people first helps mitigate those risks. However, it is essential for us to regularly reassess our risk management strategies, considering the evolving nature of the technology sector and global economic conditions. Additionally, staying attuned to emerging market trends and swiftly adapting to customer demands continues to contribute to long-term sustainability. Regular updates to these strategies can help the company navigate the ever-changing business landscape successfully. With robust first-half results indicating effective business strategies, and successful execution we are positive of a strong year.
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JOURNEYCALL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
The Company has assessed their KPIs as:
• Turnover • Gross Profit Margin • Net Profit Margin • Staff Turnover
As part of the wider group, the business will continue to consolidate and grow, in an effort to continue to attract transit operators as well as local, regional and national government bodies. The board believes that the company’s strategy together with its experienced board and management teams will continue to build on the milestones already achieved to sustain future success and strategic growth.
This report was approved by the board on 23 April 2024 and signed on its behalf.
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JOURNEYCALL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2023
The directors present their report and the financial statements for the year ended 31 July 2023.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £446,550 (2022 - £490,874).
During the year, dividends of £3,002,255 (2022 - £Nil) were declared.
The directors who served during the year were:
Details of future developments can be found within the Strategic Report and form part of this report by the directors.
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JOURNEYCALL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
There have been no significant events affecting the Company since the year end.
The auditors, Sumer Auditco Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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JOURNEYCALL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JOURNEYCALL LIMITED
We have audited the financial statements of Journeycall Limited (the 'Company') for the year ended 31 July 2023, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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JOURNEYCALL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JOURNEYCALL LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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JOURNEYCALL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JOURNEYCALL LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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JOURNEYCALL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JOURNEYCALL LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
14 City Quay
DD1 3JA
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JOURNEYCALL LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2023
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JOURNEYCALL LIMITED
REGISTERED NUMBER: SC202170
STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 12 to 23 form part of these financial statements.
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JOURNEYCALL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023
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JOURNEYCALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
Journeycall Limited is a private company limited by shares and is incorporated and domiciled in the United Kingdom. The address of the registered office is 3 James Chalmers Road, Arbroath Enterprise Park, Arbroath, DD11 3RQ.
2.Accounting policies
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 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Balniel Holdings Limited as at 31 July 2023 and these financial statements may be obtained from Companies House.
Functional and presentation currency
Transactions and balances
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JOURNEYCALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
2.Accounting policies (continued)
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.
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JOURNEYCALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
2.Accounting policies (continued)
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JOURNEYCALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
2.Accounting policies (continued)
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.
Depreciation is provided on the following basis:
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.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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JOURNEYCALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
Tangible Fixed Assets The annual depreciation charge for tangible assets is sensitive to changes in the useful economic lives of the assets. The useful economic lives are assessed annually and amended when necessary to reflect judgement, based on technological advancements, future investments, economic utilisation and physical condition of the assets. Recoverability of Debtors Management review the amounts outstanding throughout the year and provide for any debts they consider will not be recovered.
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JOURNEYCALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
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JOURNEYCALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
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JOURNEYCALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
11.Taxation (continued)
The only factors expected to affect tax charges are those imposed by HMRC.
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JOURNEYCALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
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JOURNEYCALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
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JOURNEYCALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
Share premium account
Capital redemption reserve
Profit and loss account
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JOURNEYCALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
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 £90,544 (2022 - £74,193). Contributions totalling £16,267 (2022 - £16,223) were payable to the fund at the reporting date and are included in creditors.
The company is a wholly owned subsidiary of
The ultimate controlling party is Mrs T F Lawson by virtue of the share ownership held in Balniel Holdings Limited.
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