ACCOUNTS - Final Accounts

The provision for deferred taxation is made up as follows:

HENRY COOKSON ADVENTURES LIMITED - Company Information

Caseware UK (AP4) 2019.0.131 2019.0.131 2019-03-312019-03-31The principal activity of the company is luxury bespoke travel.2018-04-01falsetruetrue 07065040 2018-04-01 2019-03-31 07065040 2017-04-01 2018-03-31 07065040 2019-03-31 07065040 2018-03-31 07065040 1 2018-04-01 2019-03-31 07065040 d:Director1 2018-04-01 2019-03-31 07065040 c:PlantMachinery 2018-04-01 2019-03-31 07065040 c:PlantMachinery 2019-03-31 07065040 c:PlantMachinery 2018-03-31 07065040 c:PlantMachinery c:OwnedOrFreeholdAssets 2018-04-01 2019-03-31 07065040 c:FurnitureFittings 2018-04-01 2019-03-31 07065040 c:FurnitureFittings 2019-03-31 07065040 c:FurnitureFittings 2018-03-31 07065040 c:FurnitureFittings c:OwnedOrFreeholdAssets 2018-04-01 2019-03-31 07065040 c:OfficeEquipment 2018-04-01 2019-03-31 07065040 c:OfficeEquipment 2019-03-31 07065040 c:OfficeEquipment 2018-03-31 07065040 c:OfficeEquipment c:OwnedOrFreeholdAssets 2018-04-01 2019-03-31 07065040 c:ComputerEquipment 2018-04-01 2019-03-31 07065040 c:ComputerEquipment 2019-03-31 07065040 c:ComputerEquipment 2018-03-31 07065040 c:ComputerEquipment c:OwnedOrFreeholdAssets 2018-04-01 2019-03-31 07065040 c:OtherPropertyPlantEquipment 2018-04-01 2019-03-31 07065040 c:OtherPropertyPlantEquipment 2019-03-31 07065040 c:OtherPropertyPlantEquipment 2018-03-31 07065040 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2018-04-01 2019-03-31 07065040 c:OwnedOrFreeholdAssets 2018-04-01 2019-03-31 07065040 c:ComputerSoftware 2018-04-01 2019-03-31 07065040 c:ComputerSoftware 2019-03-31 07065040 c:ComputerSoftware 2018-03-31 07065040 c:CurrentFinancialInstruments 2019-03-31 07065040 c:CurrentFinancialInstruments 2018-03-31 07065040 c:CurrentFinancialInstruments c:WithinOneYear 2019-03-31 07065040 c:CurrentFinancialInstruments c:WithinOneYear 2018-03-31 07065040 c:ShareCapital 2019-03-31 07065040 c:ShareCapital 2018-03-31 07065040 c:SharePremium 2019-03-31 07065040 c:SharePremium 2018-03-31 07065040 c:RetainedEarningsAccumulatedLosses 2019-03-31 07065040 c:RetainedEarningsAccumulatedLosses 2018-03-31 07065040 c:AcceleratedTaxDepreciationDeferredTax 2019-03-31 07065040 c:AcceleratedTaxDepreciationDeferredTax 2018-03-31 07065040 d:FRS102 2018-04-01 2019-03-31 07065040 d:Audited 2018-04-01 2019-03-31 07065040 d:AbridgedAccounts 2018-04-01 2019-03-31 07065040 d:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31 07065040 d:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2018-04-01 2019-03-31 07065040 d:SmallCompaniesRegimeForAccounts 2018-04-01 2019-03-31 07065040 c:ComputerSoftware c:ExternallyAcquiredIntangibleAssets 2018-04-01 2019-03-31 07065040 2 2018-04-01 2019-03-31 iso4217:GBP xbrli:pure

Registered number: 07065040

HENRY COOKSON ADVENTURES LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2019

HENRY COOKSON ADVENTURES LIMITED

INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF HENRY COOKSON ADVENTURES LIMITED

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Opinion

We have audited the financial statements of Henry Cookson Adventures Limited (the 'Company') for the year ended 31 March 2019, which comprise the Balance Sheet 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).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 March 2019 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

∙the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

∙the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The directors are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. 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.

In connection with our audit of the financial statements, 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

Page 1

HENRY COOKSON ADVENTURES LIMITED

INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF HENRY COOKSON ADVENTURES LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

knowledge obtained in 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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 Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

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HENRY COOKSON ADVENTURES LIMITED

INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF HENRY COOKSON ADVENTURES LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Auditors' responsibilities for the audit of the financial statements

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.

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.

Use of our 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.

N A Spoor ACA FCCA (Senior Statutory Auditor)

for and on behalf of

White Hart Associates (London) Limited

Chartered Accountants and Statutory Auditors

2nd Floor, Nucleus House

2 Lower Mortlake Road

Richmond

TW9 2JA

10 July 2019

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HENRY COOKSON ADVENTURES LIMITED

REGISTERED NUMBER: 07065040

BALANCE SHEET

AS AT 31 MARCH 2019


	2019	2018
Note	£	£

Fixed assets
Intangible assets	7		24,788		-
Tangible assets	8		53,515		17,256
			78,303		17,256
Current assets
Debtors: amounts falling due within one year	9	294,567		1,201,355
Cash at bank and in hand	10	1,267,180		1,315,355
		1,561,747		2,516,710
Creditors: amounts falling due within one year	11	(757,941)		(1,729,496)
Net current assets			803,806		787,214
Total assets less current liabilities			882,109		804,470
Provisions for liabilities
Deferred tax	12	(8,196)		(920)
			(8,196)		(920)
Net assets			873,913		803,550

Capital and reserves
Called up share capital	13	4	10
Share premium account		337	337
Profit and loss account		873,572	803,203
		873,913	803,550

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 on 10 July 2019.

................................................

Henry Cookson

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HENRY COOKSON ADVENTURES LIMITED

REGISTERED NUMBER: 07065040

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2019

Director

The notes on pages 6 to 15 form part of these financial statements.

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HENRY COOKSON ADVENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

1.	General information

The company is a private company limited by share capital, incorporated in England and Wales. The address of its registered office is 2 Clearwater Terrace, London, W11 4XL.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

2018 Restatement

The figures in the profit and loss account have been restated to show a more accurate distribution of direct costs and adminstration costs.

2.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'other operating income'.

Page 6

HENRY COOKSON ADVENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

2.Accounting policies (continued)

2.4

Revenue

Turnover represents the total value of travel and commissions. Travel and all holiday arrangements are recognised on a departure date basis. The company defines departure date as the date the equipment has departed in addition to the receipt of non-refundable customer payments of the total trip value, net of value added tax and discounts. Commissions or other income with no departure date is recognized when it becomes due.

2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 April 2017 to continue to be charged over the period to the first market rent review rather than the term of the lease.

2.6

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

2.7

Finance costs

Finance costs are charged to the Statement of Comprehensive Income 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.

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 the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

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HENRY COOKSON ADVENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

2.Accounting policies (continued)

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.11

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.

Page 8

HENRY COOKSON ADVENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

2.Accounting policies (continued)

2.11

Tangible fixed assets (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:

Plant and machinery	-	Over 3 years.
Fixtures and fittings	-	Over 4 years.
Computer Equipment	-	Over 3 years.
Trip Assets	-	Over 3 years.
Camera Equipment	-	Over 3 years.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

2.12

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.13

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.

2.14

Creditors

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

2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income 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.

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HENRY COOKSON ADVENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

2.Accounting policies (continued)

2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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 key accounting estimates and assumptions involved in applying the Company's accounting policies that warrant disclosure.

4.	Auditors' remuneration

Fees payable to the Company's auditor for the audit of the Company's annual financial statements totalled £ (2018 - ).

Employees

The average monthly number of employees, including directors, during the year was 18 (2018 - 11).

6.	Dividends
		2019	2018
		£	£

	Dividends	84,936	291,782
		84,936	291,782

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HENRY COOKSON ADVENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

7.	Intangible assets

		Computer software
		£
	Cost
	Additions	37,188
	At 31 March 2019	37,188
	Amortisation
	Charge for the year	12,400
	At 31 March 2019	12,400
	Net book value
	At 31 March 2019	24,788
	At 31 March 2018	-

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HENRY COOKSON ADVENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

8.	Tangible fixed assets

	Plant and machinery	Fixtures and fittings	Computer equipment	Trip assets	Camera equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 April 2018	110,801	25,218	-	-	-	136,019
Additions	-	1,331	7,060	42,202	694	51,287
Disposals	(110,801)	(5,312)	-	-	-	(116,113)
At 31 March 2019	-	21,237	7,060	42,202	694	71,193
Depreciation
At 1 April 2018	110,013	8,750	-	-	-	118,763
Charge for the year on owned assets	-	4,785	1,344	2,799	-	8,928
Disposals	(110,013)	-	-	-	-	(110,013)
At 31 March 2019	-	13,535	1,344	2,799	-	17,678
Net book value
At 31 March 2019	-	7,702	5,716	39,403	694	53,515
At 31 March 2018	788	16,468	-	-	-	17,256

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HENRY COOKSON ADVENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

Debtors

						As restated
					2019	2018
					£	£


Trade debtors	85,672	141,644
Other debtors	166,301	83,954
Prepayments	42,594	975,757
	294,567	1,201,355

10.	Cash and cash equivalents
		2019	2018
		£	£

Cash at bank and in hand	1,267,180	1,315,355
	1,267,180	1,315,355

11.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Trade creditors	153,426	163,909
Corporation tax	38,305	198,668
Other creditors	410,496	332,593
Accruals and deferred income	155,714	1,034,326
	757,941	1,729,496

12.	Deferred taxation

		2019
		£

	At beginning of year	(920)
	Charged to profit or loss	(7,276)
	At end of year	(8,196)

Page 13

HENRY COOKSON ADVENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

12.Deferred taxation (continued)

	Accelerated capital allowances	(8,196)	(920)
		(8,196)	(920)

13.	Share capital
		2019	2018
		£	£

Allotted, called up and fully paid

192,000 (2018 - 200) Ordinary A shares of £0.00001- each	2.00	2.00
10,000 (2018 - nil) Ordinary B shares of £0.00001- each	1.00	-
Ordinary C shares -	-	8.00
10,000 (2018 - nil) Ordinary D shares of £0.00001- each	1.00	-

	4.00	10.00

On 07/06/2018 the 200 £0.01 ordinary shares were sub-divided into 200,000 £0.00001 shares.
On 07/06/2018 a further 10,000 ordinary D £0.00001 shares and 2,000 ordinary B shares of £0.00001 shares were issued. The 8,000 ordinary shares were converted to ordinary 'B' shares.

Page 14

HENRY COOKSON ADVENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

14.

Related party transactions

Henry Cookson Private Charters Limited - related by common directors and shareholder.
At balance sheet date, £0 (2018 - £14 490) was payable to Henry Cookson Private Charters Limited.
Henry Cookson Property Investments Limited - related by common directors and shareholder.
At balance sheet date, £0 (2018 - £16 814) was payable to Henry Cookson Property Investments Limited.
During the accounting period, the company paid rent of £45,000 (2018 - £54,500) to Henry Cookson Property Investments Limited.
Spirit of Sydney Expeditions Pty Ltd – related by common director.
Spirit of Sydney is an Antarctica tour company incorporated in Saint Vincent and the Grenadines. In order to comply with Foreign and Commonwealth Office regulations, Henry Cookson was registered as a director of the company from 10 October 2018 to 10 May 2019.
Included within 'other debtors' is a loan of £92,456 (2018 - £75,780 within 'other creditors' owing to director Henry Cookson) owing from director Henry Cookson. The loan is interest free and payable within 9 months of year end.
During the period dividends of £66,936 (2018 - £216,936) was paid to the director Henry Cookson, £18,000 (2018 - £0) was paid to the director Rupert Longsdon and £0 (2018 - £74,846) was paid to former director George Mackay-Lewis.

15.	Post balance sheet events

On 15/06/2019 a further 85 ordinary £0.00001 shares were issued with a subscribed value of £353 per share. The total nominal value of the share issue was £0.00085 and share premium £30,004.99. The payment for these shares was the capitalisation of distributable reserves to the sum of the issue. This share issue was to increase the share capital and share premium above the £30,000 minimum requirement of the Civil Aviation Authority as part of the company obtaining an ATOL licence.
During the audited year a client cancelled a non-refundable trip, but after year-end they contacted us to ask for a refund. The board of directors are of the opinion that no refund is due, but that it would be prudent to disclose the matter.

Page 15