UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 31 MARCH 2023 |
FOR |
ISEARD HOLDINGS LIMITED |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ISEARD HOLDINGS LIMITED (REGISTERED NUMBER: 03469223) |
BALANCE SHEET |
31 March 2023 |
2023 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Revaluation reserve | 13 |
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. |
ISEARD HOLDINGS LIMITED (REGISTERED NUMBER: 03469223) |
BALANCE SHEET - continued |
31 March 2023 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Computer equipment | - |
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. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2022 |
and 31 March 2023 |
AMORTISATION |
At 1 January 2022 |
and 31 March 2023 |
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 |
DEPRECIATION |
At 1 January 2022 |
Charge for period |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 December 2021 |
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 |
PROVISIONS |
At 1 January 2022 |
and 31 March 2023 | 784,752 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 December 2021 |
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 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 December 2021 |
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 |
Other debtors |
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 |
Taxation and social security |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2021 |
£ | £ |
Bank loans |
11. | PROVISIONS FOR LIABILITIES |
2023 | 2021 |
£ | £ |
Deferred tax | 17,654 | 18,502 |
Deferred |
tax |
£ |
Balance at 1 January 2022 |
Provided during period | ( |
) |
Balance at 31 March 2023 |
The Deferred tax balance represents: |
2023 | 2021 |
£ | £ |
Capital allowances in advance of depreciation | 5.579 | 6,427 |
Capital gains arising on Investment property revaluation | 12,075 | 12,075 |
17,654 | 18,502 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2021 |
value: | £ | £ |
Ordinary | £1 | 50,102 | 50,102 |
13. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2022 |
and 31 March 2023 |
14. | CONTINGENT LIABILITIES |
The Company is party to an unlimited bank guarantee in favour of its Subsidiary Company, Snowtrax Limited. |