AFRICAN BUSH CAMPS LIMITED,Ltd - AccountsLtd - Accounts

AFRICAN BUSH CAMPS LIMITED - Company Information

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Draft

AFRICAN BUSH CAMPS LIMITED

Registered Number:05462528

For the year ended 31 December 2019

England and Wales

Unaudited Financial Statements

Draft

As at 31 December 2019

AFRICAN BUSH CAMPS LIMITED

Statement of Financial Position

Registered Number :

05462528

2018

2019

Notes

Fixed assets

Financial assets

Current assets

Trade and other receivables

720,828

1,333,750

132,063

Cash and cash equivalents

249,585

1,583,335

852,891

Trade and other payables: amounts falling due within one

year

(1,419,233)

(3,200,099)

(566,342)

(1,616,764)

Net current liabilities

Total assets less current liabilities

(1,616,696)

(566,274)

Trade and other payables: amounts falling due after more

than one year

(2,074,218)

(1,428,571)

(3,045,267)

Net liabilities

(2,640,492)

Capital and reserves

Called up share capital

200

Share premium account

331,724

Retained earnings

(3,377,191)

(2,972,416)

(3,045,267)

(2,640,492)

Shareholders' funds

For the year ended 31 December 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of

each financial year and of its profit or loss for each financial year in accordance with the requirements of Section

394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial

statements, so far as applicable to the company.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

B M NDLOVU Director

These financial statements were approved and authorised for issue by the Board on 26 August 2020 and were signed by:

The notes form part of these financial statements

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Draft

For the year ended 31 December 2019

AFRICAN BUSH CAMPS LIMITED

Notes to the Financial Statements

Statutory Information

AFRICAN BUSH CAMPS LIMITED is a private limited company, limited by shares, domiciled in England and Wales,

registration number 05462528.

Registered address:

SUITE 1 STAPLE HOUSE

ELEANOR'S CROSS

DUNSTABLE

BEDFORDSHIRE

LU6 1QQ

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

2. Trade and other receivables

2018

2019

Trade debtors

194,124

89,725

Amounts owed by group undertakings and participating interests

1,136,535

596,833

Other debtors

3,091

34,270

720,828

1,333,750

3. Trade and other payables: amounts falling due within one year

2018

2019

Trade creditors

291,126

50,450

Amounts owed to group undertaking and undertaking in which the

company has a participating interest

1,715,812

442,465

Other creditors

1,193,161

926,318

3,200,099

1,419,233

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Draft

For the year ended 31 December 2019

AFRICAN BUSH CAMPS LIMITED

Notes to the Financial Statements Continued

4. Trade and other payables: amounts falling due after more than one year

2018

2019

Amounts owed to group undertaking and undertaking in which the

company has a participating interest

1,428,571

2,074,218

5. Related party transactions

Included in the cost of sales are the following payments to fellow subsidiary companies relating to the provision of

safari camp accommodation and related services:-

Country Cost Incurred Balance Due from (to)

Cranes Nest Safaris (Proprietary) Ltd Botswana £1,122,591 (£411,009)

Safari Drive Botswana (Proprietary) Ltd Botswana £1,612,348 (£601,658)

Thorntree Investments Ltd Zambia £1,451,368 (£457,664)

Ledgeback Safaris (Private) Ltd Zimbabwe £3,233,261 £1,074,278

Lake Lodges (Private) Ltd Zimbabwe £606,013 £964

Siavonga Enterprises Ltd Zimbabwe £867,054 £61,292

In addition, the company subcontracted its sales, marketing, customer service and order processing functions to

related parties based in Africa. Amounts paid for the provision of these services were:-

Country Cost Incurred

Safari ABC (Proprietary) Ltd South Africa £1,014,165

Ledgeback Safaris (Private) Ltd Zimbabwe £30,403

Siavonga Enterprises Ltd Zimbabwe £69,034

The company also has a loan of £1,428,571 from its parent company, African Bush Camps Ltd (incorporated in

Mauritius). The loan is denominated in US Dollars and is interest free. The ultimate controlling party is Mr R J Dow.

6. Average number of persons employed

During the year the average number of employees was 0

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