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Company Registration number: 00929247

Coquetdale Holidays Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Coquetdale Holidays Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Coquetdale Holidays Limited

(Registration number: 00929247)
Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,684,543

1,635,897

Investments

5

1,000

1,000

 

1,685,543

1,636,897

Current assets

 

Stocks

88,900

195,447

Debtors

6

166,128

212,518

Cash at bank and in hand

 

1,756,457

1,687,749

 

2,011,485

2,095,714

Creditors: Amounts falling due within one year

7

(298,135)

(376,813)

Net current assets

 

1,713,350

1,718,901

Net assets

 

3,398,893

3,355,798

Capital and reserves

 

Called up share capital

100

100

Retained earnings

3,398,793

3,355,698

Shareholders' funds

 

3,398,893

3,355,798

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 15 September 2023 and signed on its behalf by:
 

.........................................
M T Muckle
Director

.........................................
K Muckle
Company secretary and director

.........................................
M Muckle
Director

     
 

Coquetdale Holidays Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by shares, registered in England and Wales.

The address of its registered office is:
Coquetdale Holiday Park Wayside
Witton, Rothbury
Northumberland
NE65 7RU
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably

 

Coquetdale Holidays Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Taxation

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Coquetdale Holidays Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Land and buildings

nil

Furniture and fittings

10 years straight line

Motor vehicles

15% reducing balance

Plant and machinery

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.


 

Coquetdale Holidays Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (excluding directors) during the year, was 4 (2022 - 4).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

1,534,745

319,906

296,430

19,700

2,170,781

Additions

62,270

-

2,450

-

64,720

Disposals

-

-

(35,662)

-

(35,662)

At 31 March 2023

1,597,015

319,906

263,218

19,700

2,199,839

Depreciation

At 1 April 2022

-

318,320

209,044

7,520

534,884

Charge for the year

-

398

13,343

1,827

15,568

Eliminated on disposal

-

-

(35,156)

-

(35,156)

At 31 March 2023

-

318,718

187,231

9,347

515,296

Carrying amount

At 31 March 2023

1,597,015

1,188

75,987

10,353

1,684,543

At 31 March 2022

1,534,745

1,586

87,386

12,180

1,635,897

5

Investments

2023
£

2022
£

Investments in subsidiaries

1,000

1,000

Subsidiaries

£

Cost or valuation

At 1 April 2022

1,000

Carrying amount

At 31 March 2023

1,000

At 31 March 2022

1,000

 

Coquetdale Holidays Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

6,118

39,200

Amounts owed by related parties

8

148,702

148,702

Prepayments

 

2,082

14,140

Other debtors

 

9,226

10,476

   

166,128

212,518

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

20,733

Taxation and social security

18,800

75,627

Accruals and deferred income

279,335

276,246

Other creditors

-

4,207

298,135

376,813

8

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

At 31 March 2023
£

M T Muckle

Amounts owed to company

363

363

     
   

 

2022

At 1 April 2021
£

At 31 March 2022
£

M T Muckle

Amounts owed to company

363

363