REGISTERED NUMBER: |
HIDEAWAY COUNTRY HOLIDAYS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2022 |
REGISTERED NUMBER: |
HIDEAWAY COUNTRY HOLIDAYS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2022 |
HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2022 |
Page |
Balance Sheet | 1 | to | 2 |
Notes to the Financial Statements | 3 | to | 5 |
HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447) |
BALANCE SHEET |
31ST DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Revaluation reserve | 10 |
Capital reserves |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps 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 Sections 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. |
HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447) |
BALANCE SHEET - continued |
31ST DECEMBER 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Hideaway Country Holidays Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Hideaway Country Holidays Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover from lodgings and guest services are recognised on the departure date when final payment is taken. Deposits including non-refundable deposits are recognised at the event date. |
Tangible fixed assets and depreciation |
Tangible fixed assets are stated at cost less accumulated depreciation or valuation. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
Freehold Land and Building | - No depreciation |
Fixtures and fittings | - 20% on reducing balance |
Motor vehicles | - 20% on reducing balance |
Land and buildings were last valued at 1998. The directors have chosen not to revalue the property on the basis that the appropriate fair value of the property is not materially different to the value in the accounts. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Investments |
The investments, comprising antique furniture, are measured at cost less impairment, as the estimated residual value of the assets is in excess of their cost no impairment has been made. |
HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2022 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st January 2022 |
and 31st December 2022 |
DEPRECIATION |
At 1st January 2022 |
Charge for year |
At 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
At 31st December 2021 |
The historic cost equivalent of land and buildings included at valuation are as follows: |
2022 | 2021 |
£ | £ |
Cost | 932,936 | 932,936 |
Accumulated depreciation | - | - |
Net book value | 932,936 | 932,936 |
5. | FIXED ASSET INVESTMENTS |
The investments comprise antique furniture and other items used in the company's trade. |
The cost and net book value of the fixed asset investments at 31st December 2022 were £50,732 (2021: £50,732). |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2022 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
Preference - 3.5% |
non-cumulative | £1 | 100 | 100 |
200 | 200 |
10. | RESERVES |
Revaluation |
reserve |
£ |
At 1st January 2022 |
and 31st December 2022 |
11. | CONTINGENT LIABILITY |
Finance assistance |
In connection with the acquisition of the entire share capital of the company by Infinesse LLC, the company has given a debenture in favour of the Royal Bank of Scotland plc securing its obligations under a guarantee for monies lent to Infinesse LLC. Under this debenture, the company charges the whole and any part of its undertaking, property and assets to The Royal Bank of Scotland plc. |
12. | GOING CONCERN |
During the previous financial year Hideaway Country Holidays Ltd ceased trading. Net liabilities owed to related parties as at 31st December 2022 were £1,429,808 (2021:£1,322,805). However, the financial statements have been prepared on a going concern basis as the ultimate parent company does not intend to have Hideaway Country Holidays Ltd struck off and has pledged its continuing support for a minimum of 12 months from the date of issuing these financial statements. |