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Registration number: 06850104

Appledore Holidays Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Appledore Holidays Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Appledore Holidays Ltd

Company Information

Directors

Mrs J Day

Mr R Day

Registered office

The Old Library
The Walk
Winslow
Bucks
MK18 3AJ

Accountants

KRW Accountants Ltd
Chartered Accountants & Tax Advisers
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

Appledore Holidays Ltd

(Registration number: 06850104)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,276

9,719

Investment property

5

902,648

902,648

Investments

6

100

100

Other financial assets

7

444,199

433,805

 

1,354,223

1,346,272

Current assets

 

Debtors

8

299,900

300,057

Cash at bank and in hand

 

8,740

32,923

 

308,640

332,980

Creditors: Amounts falling due within one year

9

(170,304)

(165,708)

Net current assets

 

138,336

167,272

Total assets less current liabilities

 

1,492,559

1,513,544

Provisions for liabilities

(1,237)

(1,652)

Net assets

 

1,491,322

1,511,892

Capital and reserves

 

Called up share capital

20

20

Retained earnings

1,491,302

1,511,872

Shareholders' funds

 

1,491,322

1,511,892

For the financial year ending 30 June 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Appledore Holidays Ltd

(Registration number: 06850104)
Balance Sheet as at 30 June 2023

Approved and authorised by the Board on 3 October 2023 and signed on its behalf by:
 

.........................................
Mr R Day
Director

 

Appledore Holidays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
The Old Library
The Walk
Winslow
Bucks
MK18 3AJ

These financial statements were authorised for issue by the Board on 3 October 2023.

The company registration number is 06850104

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 accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Appledore Holidays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

Asset class

Depreciation method and rate

Office equipment

33% reduncing balance

Fixtures and fittings

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Appledore Holidays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Appledore Holidays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 July 2022

25,235

1,108

26,343

At 30 June 2023

25,235

1,108

26,343

Depreciation

At 1 July 2022

15,702

922

16,624

Charge for the year

2,260

183

2,443

At 30 June 2023

17,962

1,105

19,067

Carrying amount

At 30 June 2023

7,273

3

7,276

At 30 June 2022

9,533

186

9,719

5

Investment properties

2023
£

At 1 July

902,648

At 30 June

902,648

There has been no valuation of investment property by an independent valuer.

6

Investments

2023
£

2022
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 July 2022

100

Provision

Carrying amount

At 30 June 2023

100

At 30 June 2022

100

 

Appledore Holidays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2022

433,805

433,805

Fair value adjustments

(7,245)

(7,245)

Additions

17,639

17,639

At 30 June 2023

444,199

444,199

Impairment

Carrying amount

At 30 June 2023

444,199

444,199

8

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

299,900

299,900

Other debtors

 

-

157

 

Appledore Holidays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

84

2,931

Taxation and social security

1,326

3,717

Accruals and deferred income

3,691

3,300

Other creditors

165,203

155,760

170,304

165,708

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

20

20

20

20