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UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2022 TO 31 MARCH 2023

FOR

ISEARD HOLDINGS LIMITED

ISEARD HOLDINGS LIMITED (REGISTERED NUMBER: 03469223)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 1 January 2022 to 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ISEARD HOLDINGS LIMITED

COMPANY INFORMATION
For The Period 1 January 2022 to 31 March 2023







DIRECTORS: Mr C P Iseard
Mr T C Iseard





SECRETARY: Mr T C Iseard





REGISTERED OFFICE: 5th Floor
Waverley House
115 - 119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY





REGISTERED NUMBER: 03469223 (England and Wales)






ISEARD HOLDINGS LIMITED (REGISTERED NUMBER: 03469223)

BALANCE SHEET
31 March 2023

2023 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,160,257 1,163,844
Investments 6 561,348 561,348
Investment property 7 400,000 400,000
2,121,605 2,125,192

CURRENT ASSETS
Debtors 8 261,237 173,848
Cash at bank 315,370 57,336
576,607 231,184
CREDITORS
Amounts falling due within one year 9 (60,858 ) (49,343 )
NET CURRENT ASSETS 515,749 181,841
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,637,354

2,307,033

CREDITORS
Amounts falling due after more than one year 10 (21,667 ) (34,167 )

PROVISIONS FOR LIABILITIES 11 (17,654 ) (18,502 )
NET ASSETS 2,598,033 2,254,364

CAPITAL AND RESERVES
Called up share capital 12 50,102 50,102
Revaluation reserve 13 161,133 161,133
Retained earnings 2,386,798 2,043,129
SHAREHOLDERS' FUNDS 2,598,033 2,254,364

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

ISEARD HOLDINGS LIMITED (REGISTERED NUMBER: 03469223)

BALANCE SHEET - continued
31 March 2023


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

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 8 August 2023 and were signed on its behalf by:





Mr C P Iseard - Director


ISEARD HOLDINGS LIMITED (REGISTERED NUMBER: 03469223)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 1 January 2022 to 31 March 2023

1. STATUTORY INFORMATION

Iseard Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Iseard Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Changes in reporting period
These financial statements cover a fifteen month accounting period 1 January 2022 to 31 March 2023. The accounting period was extended to ensure that the group's financial period is co-terminus with that of the subsidiary Snowtrax Limited whom extended its period in line with the ski season. The comparatives within these financial statements represent the results for the twelve months ended 31 December 2021 and are therefore not entirely comparable.

Turnover
Turnover represents the amount derived from rental income and management charges after value added tax.

Goodwill
Goodwill represents the difference between the fair value of the consideration paid on acquisition of the business and the fair value of its separable net assets at the date of acquisition. Goodwill has been fully amortised over its useful economic life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Freehold land and buildings are not depreciated. It is the Company's policy to carry out a high level of maintenance, refurbishment and upgrading which ensures that the premises are maintained to a very high standard of repair to protect the Company's trade. The directors are of the opinion that the lives of these assets are sufficiently long and the residual values are sufficiently maintained to prevent the need for depreciation.

Within freehold property is fixed plant which is depreciated over 20 years.

The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable. Any impairment in the value will be charged to the profit and loss account.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property
Investment properties are not depreciated. The properties are revalued annually with surpluses taken to an investment revaluation reserve.

Financial instruments
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.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured as amortised cost using the effective interest rate method, less impairment.


ISEARD HOLDINGS LIMITED (REGISTERED NUMBER: 03469223)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 January 2022 to 31 March 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2021 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 March 2023 1
AMORTISATION
At 1 January 2022
and 31 March 2023 1
NET BOOK VALUE
At 31 March 2023 -
At 31 December 2021 -

5. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST
At 1 January 2022
and 31 March 2023 1,304,208 4,066 1,308,274
DEPRECIATION
At 1 January 2022 140,373 4,057 144,430
Charge for period 3,584 3 3,587
At 31 March 2023 143,957 4,060 148,017
NET BOOK VALUE
At 31 March 2023 1,160,251 6 1,160,257
At 31 December 2021 1,163,835 9 1,163,844

ISEARD HOLDINGS LIMITED (REGISTERED NUMBER: 03469223)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 January 2022 to 31 March 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 January 2022
and 31 March 2023 1,346,100
PROVISIONS
At 1 January 2022
and 31 March 2023 784,752
NET BOOK VALUE
At 31 March 2023 561,348
At 31 December 2021 561,348

Cost or valuation at 31 March 2023 is represented by:

Shares in
group
undertakings
£   
Cost 1,346,100

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022
and 31 March 2023 400,000
NET BOOK VALUE
At 31 March 2023 400,000
At 31 December 2021 400,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 400,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2021
£    £   
Cost 226,793 226,793

Investment properties were valued on an open market basis on 31 March 2023 by the Directors .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Amounts owed by group undertakings 260,988 173,507
Other debtors 249 341
261,237 173,848

ISEARD HOLDINGS LIMITED (REGISTERED NUMBER: 03469223)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 January 2022 to 31 March 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 38,590 32,306
Other creditors 12,268 7,037
60,858 49,343

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2021
£    £   
Bank loans 21,667 34,167

11. PROVISIONS FOR LIABILITIES
2023 2021
£    £   
Deferred tax 17,654 18,502

Deferred
tax
£   
Balance at 1 January 2022 18,502
Provided during period (848 )
Balance at 31 March 2023 17,654

The Deferred tax balance represents:

20232021
£   £   

Capital allowances in advance of depreciation5.5796,427
Capital gains arising on Investment property revaluation12,07512,075
17,65418,502

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2021
value: £    £   
50,102 Ordinary £1 50,102 50,102

13. RESERVES
Revaluation
reserve
£   
At 1 January 2022
and 31 March 2023 161,133

14. CONTINGENT LIABILITIES

The Company is party to an unlimited bank guarantee in favour of its Subsidiary Company, Snowtrax Limited.