Registered number:
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
FOR THE YEAR ENDED 30 APRIL 2022
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
COMPANY INFORMATION
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
CONTENTS
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2022
The directors present their strategic report for the period ended 30 April 2022.
The Company is required by the Companies Act 2006 to set out in this report, a fair review of the business of the Company during the financial year ended 30 April 2022, the position of the Company at the end of the period and a description of the principal risks and uncertainties facing the Company.
This review is prepared solely to provide additional information to shareholders to assess the business' strategies and the potential for those strategies to succeed, and the business review should not be relied upon by any other party or for any other purpose. The 12 months to 30th April 2022 mark the third consecutive year impacted by the COVID-19 pandemic. Despite the continued disruption, the Wilderness Group of businesses responded well, adapting its product range and marketing strategies to capitalise on interest from travellers primarily based in the UK and Ireland. As concerns around the severity of Omicron receded, international borders re-opened and testing protocols relaxed, allowing a robust recovery to emerge through the final quarter of the period. The first departures for the summer season in April 2022 were relatively unimpeded by COVID-19, and with consumer demand at an all-time high, we had first sight of the wholesome growth we expect to nurture across the Wilderness Group through the next 12 months and beyond. This growth has manifested itself in record enquiries and bookings for the next financial year. The global travel and tourism industry has faced existential, once-in-a-generation challenges with vast uncertainties which have made planning and forecasting uniquely challenging. It was against this backdrop that management set a recovery budget for this financial year which would see the Wilderness Group immediately to EBITDA profitability, operating what we expected to be a restricted programme. Management therefore considers the full year result to be very satisfactory given the operating restrictions in the period. Turnover increased by £2.7m to £3.0m (2021 £0.39m). Gross Profit increased by £844k to £888k (2021: £44k). The EBITDA result of £472k represented an improvement of £952k on the prior year (2021: loss of £480k) which was significantly ahead of the £200k budgeted. The Company’s asset-light operating model continues to allow the directors to react swiftly to challenges, COVID-19 or otherwise. This model minimises supply cost exposure and allows for the rapid development of new products and revenue generating opportunities. The Company remains focused on delivering clients premium active and experiential holidays. The directors believe strongly that sustainable, outdoors focused adventure and activity travel will resonate more than ever in the post-pandemic landscape, and consumers will want to book with trusted tour operators offering expertise, high-touch service, and financial protection. The Company and management team continue to receive the full support of its Board and shareholders who share the management expectation for the potential for considerable growth of the Wilderness Group in 2023.
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
The following risk factors may affect the Company's operating results and its financial position. The risk factors described below are those which the directors believe are potentially significant but should not be regarded as a complete and comprehensive statement of all potential risk and uncertainties facing the Company.
The demand for holidays is affected by local and global social and economic conditions. Most recently the uncertainty and inability to travel created by the COVID-19 pandemic has caused unprecedented challenges. The breadth of product offered by the Wilderness Group and it’s multiple source markets is a key element of the board’s strategic plan to mitigate risk. However, even these measures can only provide so much protection in the face of a global pandemic which curtails the free movement of people. Whilst the threat from COVID-19 has receded, and restrictions have largely been lifted across all of the Group’s source and destination markets, uncertainty remains around the long-term evolutionary path of the virus and its impact on society. More recently, the cost-of-living crisis, driven by global inflationary pressures is creating risk to the recovery of the Company, reliant as it is on consumer spending. A wider economic down-turn and recession are possible in the next 12 months. So far, the Group has not felt any measurable slowdown in booking momentum and underlying demand for its products. Indeed, the desire for the Group’s activity-based experiences are running at an all time high as pent-up demand is released, with consumers increasingly seeing their holiday spend as nondiscretionary. Management’s expectation, supported by experience through previous economic downturns, is that the luxury positioning of the Group, and the financial resilience of its core customer will mitigate this risk against all but the most severe economic downturn. The Directors review the financial position of the Company on a regular basis and continue to make appropriate adjustments to forecasts and planned mitigation actions, in order to neutralise the financial impact of the significant downturn in trading. Additionally, they have undertaken sensitivity analyses on the baseline budget for the year ending 30 April 2023, and subsequent re-forecasts, to assess the financial impact of a more severe downturn in trading and the impact for Group liquidity. These sensitivities reflect a range of assumptions and show that the Group has sufficient liquidity to trade in all scenarios envisaged by the Directors.
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
Principal risks and uncertainties (continued)
The Group operates in a highly competitive market featuring innovation in the travel products and the methods by which it is marketed, as well as price pressures. The Group seeks to constantly invest in its brand to increase public awareness as well as offer a wide selection of products from a wide range of suppliers at competitive prices to maintain its market position and protect against erosion of its market share. The Group also monitors competitor activity closely. The Group is heavily reliant on the uninterrupted operation of its IT systems and website. These systems are vulnerable to power loss, fire, computer viruses and other events. Loss of these systems would impair the ability of the Group to carry on its business effectively. The Group has made arrangements to mitigate this risk. The Group has well established and close relationships with customers and suppliers and risk is spread by not placing over-reliance on any one supplier in any particular area. However, if a relationship were lost or damaged with a major supplier this could have a detrimental effect on the business. The management team meets regularly with suppliers to maintain good working relationships and to understand the supplier's financial position. The Group finances its operations through retained profits. The Group's exposure to interest rate fluctuations on its cash deposits are managed by using short term, fixed and floating deposits. The nature of the business exposes the Company to various commercial risks which may affect the trading performance of the Company. These include: - acts of terrorism - epidemics - wars or other international uncertainty which affects air travel - natural disasters - detrimental weather conditions - changes in customer behaviour and preferences - increase in government taxes - economic climate fluctuation
This report was approved by the board on 7 November 2022
and signed on its behalf.
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2022
The directors present their report and the financial statements for the year ended 30 April 2022.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the
financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year
. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
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;
∙
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙
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 directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' Reports may differ from legislation in other jurisdictions.
The profit for the year, after taxation, amounted to £
348,636
(2021 -
loss
£
472,314
)
.
No dividends will be distributed for the period ended 30 April 2022.
The directors who served during the year were:
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
During 2022 and 2023 the Company will continue to operate as outlined in the principal activity note above.
There have been no significant events affecting the Company since the year end. The impact of the pandemic upon the industry in which the Company operates is further described in note 2.2.
The auditors, White Hart Associates (London) 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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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILDERNESS GROUP LIMITED
We have audited the financial statements of Wilderness Group Limited (the 'Company') for the year ended 30 April 2022, 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).
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILDERNESS GROUP LIMITED (CONTINUED)
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.
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILDERNESS GROUP LIMITED (CONTINUED)
The impact of uncertainties due to the COVID-19 pandemic on our audit
Uncertainties related to the effects of the COVID-19 pandemic are still relevant to the understanding our audit of the financial statements. Despite the travel corridor opening again, the financial and operational impact of COVID-19 is still impacting the economic environment. All audits assess and challenge the reasonableness of of estimates made by the directors such as recoverability of investments, intangible assets and related disclosures as well as the appropriateness of the going concern basis of preparation of the financial statements. All of these depend on assessment of the future economic environment and the company's future prospects and performance. The COVID-19 pandemic and war in Ukraine have had an unprecedented impact upon the worldwide economy and prolonged the recovery period for the travel industry. This has created uncertainty in tour operators. We applied a standardised firm-wide approach in response to these uncertainties when assessing the Group's future prospects and performance. However, no audit should be expected to predict the unknowable factors or all possible future implications for a group or company and this is particularly the case in relation to COVID-19 and subsequent cost of living crisis.
In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosure made in note 2.2 to the financial statements concerning the Group's and Company's ability to continue as a going concern.
As explained in note 2.2, the COVID-19 pandemic had an unprecedented impact upon the global economy and especially upon the travel industry. These problematic trading conditions have negatively impacted the Group's trading performance in this year and also its balance sheet.
IIn the event that the economic conditions worsen over a prolonged period of time, this would put pressure on the Group's and Company's finances and its ability to continue as a going concern. We draw attention to note 2.2 of the financial statements as to the review and actions undertaken by the Board of Directors to ensure that the Group has adequate resources to continue trading for at least 12 months. The financial statements are therefore prepared on a going concern basis.
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.
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILDERNESS GROUP LIMITED (CONTINUED)
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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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILDERNESS GROUP 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 exercise professional judgment and maintain professional skepticism throughout the audit; - We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the deliberate override of internal control; - We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control; - We evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made; - We assess the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business; - We review the scope of the Company's compliance with The Package and Linked Travel Arrangements Regulations 2018 (“PTRs”) and sample test relevant documentation to assess this and the effectiveness of its control environment; - We request and review the minutes of management meetings, and assess any matters identified not already provided for or disclosed that may materially impact the financial statements;
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILDERNESS GROUP LIMITED (CONTINUED)
Auditors' responsibilities for the audit of the financial statements (continued)
- We review the Company's relationships with related parties, identifying and disclosing transactions during the year and balances at year-end with such parties; - We conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern. if we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the entity to cease to continue as a going concern.
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.
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 and Statutory Auditors
2nd Floor, Nucleus House
2 Lower Mortlake Road
TW9 2JA
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2022
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
REGISTERED NUMBER:
SC211011
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2022
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
REGISTERED NUMBER:
SC211011
STATEMENT OF FINANCIAL POSITION
(CONTINUED)
AS AT
30 APRIL 2022
The notes on pages 17 to 36 form part of these financial statements.
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
30 APRIL 2022
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 APRIL 2022
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
As disclosed in the Directors' Report, the principal activity of the Company in the year under review was that of an adventure holiday tour operator in Scotland and the rest of the British Isles.
The Company is a private company limited by shares, registered in Scotland. The registered office address and the principal place of business is Unit 3 Dalfaber Drive Aviemore Highland Scotland PH22 1ST.
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The COVID-19 pandemic has had an unprecedented impact upon the global economy and in particular upon the travel industry, causing many consumers to cancel or amend their holiday arrangements.
Company management and the Directors review the financial position of the Company on a regular basis and continue to make appropriate adjustments to forecasts and planned mitigation actions to neutralise the fiscal impact of any significant downturn in trading, or ability to operate holidays as planned. Additionally, they have undertaken sensitivity analyses on the baseline budget for the year ending 30 April 2023, and subsequent re-forecasts, to assess the impact of a more severe downturn in trading and the impact for Group liquidity. These sensitivity analyses show that the Company has enough liquidity to trade through a further slowdown under all scenarios envisaged by the Directors. The Company also continues to benefit from strong ongoing investor and shareholder support. Company management and the directors therefore have a reasonable expectation that the Company has adequate resources to operate under all scenarios for the foreseeable future, being at least the following 12 months from the signing of these financial statements, and will take all reasonably commercial steps, including seeking further financing or support if required to ensure the Company's ability to continue as a going concern. The directors therefore believe that it is appropriate to apply the going concern basis for the foreseeable future.
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
2.
Accounting policies (continued)
Functional and presentation currency
Transactions and balances
When acting as principal, the lower of the booking deposit and the booking gross profit is recognised in the statement of comprehensive income at the point of booking. The remainder of the booking is recognised on a departure date basis. Trade debtors still represent gross amounts receivable and trade creditors still represent gross amounts payable in respect of travel and holiday arrangements.
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
2.
Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only. 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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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
2.
Accounting policies (continued)
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.
The estimated useful lives range as follows:
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
2.
Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as per the table below.
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.
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
2.
Accounting policies (continued)
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 reporting 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 Statement of Financial Position.
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
2.
Accounting policies (continued)
Page 23
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
a) Critical judgments in applying the Company's accounting policies The directors believe that there are no critical judgments involved in applying the Company's accounting policies that warrant disclosure. b) Key accounting estimates and assumptions The directors believe that there are no accounting estimates and assumptions involved in applying the Company's accounting policies that warrant disclosure.
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
Page 25
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
Page 26
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
Changes to the UK corporation tax rates were substantively enacted as part of Finance Bill 2021 (on 11 March 2021). These include increases to the main rate of tax from 19% to 25% from 1 April 2023 for profits exceeding £50,000. Deferred taxes at the Statement of Financial Position date have been measured using the rates that will be applicable in the periods to which they relate.
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
Page 28
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
Page 29
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
15.
Tangible fixed assets (continued)
Page 30
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
Page 31
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
Page 32
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
Page 33
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
Page 34
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
Share premium account
Profit and loss account
Page 35
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WILDERNESS GROUP LIMITED
(FORMELY KNOWN AS WILDERNESS SCOTLAND LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
The Company operates a defined contribution 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 £30,148 (2021 - £27,297). Contributions totalling £6,951 (2021 - £6,055) were payable to the fund at the reporting date.
The Company's immediate parent company is Active Travel Group Bidco Limited, a company registered in England and Wales. Copies of the financial statements of Active Travel Group Bidco Limited can be obtained from 2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond, TW9 2JA.
The Company's ultimate holding company is Active Travel Group Limited, a company registered in England and Wales. It has included the Company in it's group accounts, copies of which are available at its registered office 2nd Floor, Nucleus House, 2 Lower Mortlake, Richmond, TW9 2JA. Active Travel Group Limited is controlled by Mobeus Equity Partners IV LP, a limited partnership registered in England and Wales. The registered office of Mobeus Equity Partners IV LP is C/O Mobeus Equity Partners LLP, 1st Floor, 1 Babmaes Street, London, SW1Y 6HF. In the opinion of the directors, there is no single individual who is the ultimate controlling party of Mobeus Equity Partners IV LP.
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