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Company registration number: 08860428
UK Holiday Homes Limited
Unaudited filleted financial statements
31 January 2023
UK Holiday Homes Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
UK Holiday Homes Limited
Directors and other information
Director B Duffield
Company number 08860428
Registered office 17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Accountants The Barker Partnership
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
UK Holiday Homes Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of UK Holiday Homes Limited
Year ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of UK Holiday Homes Limited for the year ended 31 January 2023 which comprise the Balance sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of UK Holiday Homes Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of UK Holiday Homes Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than UK Holiday Homes Limited and its director as a body for our work or for this report.
It is your duty to ensure that UK Holiday Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of UK Holiday Homes Limited. You consider that UK Holiday Homes Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of UK Holiday Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The Barker Partnership
Chartered Accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
13 October 2023
UK Holiday Homes Limited
Balance sheet
31 January 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 196,419 208,065
_______ _______
196,419 208,065
Current assets
Stocks 4,000 4,000
Debtors 6 30,938 30,600
Cash at bank and in hand 46,363 13,010
_______ _______
81,301 47,610
Creditors: amounts falling due
within one year 7 ( 26,471) ( 14,879)
_______ _______
Net current assets 54,830 32,731
_______ _______
Total assets less current liabilities 251,249 240,796
Creditors: amounts falling due
after more than one year 8 ( 23,311) ( 35,833)
_______ _______
Net assets 227,938 204,963
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 227,937 204,962
_______ _______
Shareholder funds 227,938 204,963
_______ _______
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 October 2023 , and are signed on behalf of the board by:
B Duffield
Director
Company registration number: 08860428
UK Holiday Homes Limited
Notes to the financial statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Central Buildings, Market Place, Thirsk, North Yorkshire, YO7 1HD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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 ateach reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 February 2022 230,692 3,317 4,915 238,924
Disposals - - ( 4,915) ( 4,915)
_______ _______ _______ _______
At 31 January 2023 230,692 3,317 - 234,009
_______ _______ _______ _______
Depreciation
At 1 February 2022 23,070 2,874 4,915 30,859
Charge for the year 11,535 111 - 11,646
Disposals - - ( 4,915) ( 4,915)
_______ _______ _______ _______
At 31 January 2023 34,605 2,985 - 37,590
_______ _______ _______ _______
Carrying amount
At 31 January 2023 196,087 332 - 196,419
_______ _______ _______ _______
At 31 January 2022 207,622 443 - 208,065
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Other debtors 30,938 30,600
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 10,000 7,500
Corporation tax 7,947 1,598
Other creditors 8,524 5,781
_______ _______
26,471 14,879
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 23,311 35,833
_______ _______
9. Related party transactions
The director has provided the company with an interest free, unsecured loan. The balance outstanding at 31 January 2023 is £2,498 (2022 - £248).At the year end date an amount of £30,938 (2022: £30,469) was due from Skyline Resorts Limited, a company connected to the director.