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REGISTERED NUMBER: 07539479 (England and Wales)












Cornish Holiday Cottages Limited

Unaudited Financial Statements

for the Year Ended 31st March 2023






Cornish Holiday Cottages Limited (Registered number: 07539479)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Cornish Holiday Cottages Limited

Company Information
for the Year Ended 31st March 2023







DIRECTOR: Ms E J Boriosi





REGISTERED OFFICE: Cornish Holiday Cottages
The Square
Mawnan Smith
Falmouth
Cornwall
TR11 5EP





REGISTERED NUMBER: 07539479 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

Cornish Holiday Cottages Limited (Registered number: 07539479)

Statement of Financial Position
31st March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 12,165 18,248
Tangible assets 5 50,203 65,171
62,368 83,419

CURRENT ASSETS
Debtors 6 1,040 46,151
Cash at bank and in hand 410,919 311,825
411,959 357,976
CREDITORS
Amounts falling due within one year 7 (56,374 ) (49,908 )
NET CURRENT ASSETS 355,585 308,068
TOTAL ASSETS LESS CURRENT
LIABILITIES

417,953

391,487

PROVISIONS FOR LIABILITIES (9,647 ) (13,337 )
NET ASSETS 408,306 378,150

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 408,305 378,149
SHAREHOLDERS' FUNDS 408,306 378,150

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

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

The director acknowledges her 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.

Cornish Holiday Cottages Limited (Registered number: 07539479)

Statement of Financial Position - continued
31st 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 director and authorised for issue on 4th November 2023 and were signed by:





Ms E J Boriosi - Director


Cornish Holiday Cottages Limited (Registered number: 07539479)

Notes to the Financial Statements
for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

Cornish Holiday Cottages 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents commission charged on monies received from guests excluding value added tax at the applicable rate.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Website costs are being amortisied at 20% per annum in order to write off the asset over its estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Computer and office equipment - 25% on cost
Furniture and fixtures - 20% on cost
Motor vehicles - 25% on cost

Taxation
Taxation for the year 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Cornish Holiday Cottages Limited (Registered number: 07539479)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill Website Totals
£    £    £   
COST
At 1st April 2022
and 31st March 2023 10,000 30,415 40,415
AMORTISATION
At 1st April 2022 10,000 12,167 22,167
Amortisation for year - 6,083 6,083
At 31st March 2023 10,000 18,250 28,250
NET BOOK VALUE
At 31st March 2023 - 12,165 12,165
At 31st March 2022 - 18,248 18,248

5. TANGIBLE FIXED ASSETS
Computer
Improvements and Furniture
to office and Motor
property equipment fixtures vehicles Totals
£    £    £    £    £   
COST
At 1st April 2022 16,310 11,432 13,217 54,000 94,959
Additions - 671 - - 671
At 31st March 2023 16,310 12,103 13,217 54,000 95,630
DEPRECIATION
At 1st April 2022 3,085 7,452 8,451 10,800 29,788
Charge for year 1,631 1,756 1,452 10,800 15,639
At 31st March 2023 4,716 9,208 9,903 21,600 45,427
NET BOOK VALUE
At 31st March 2023 11,594 2,895 3,314 32,400 50,203
At 31st March 2022 13,225 3,980 4,766 43,200 65,171

Cornish Holiday Cottages Limited (Registered number: 07539479)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 36,998
Other debtors 1,040 9,153
1,040 46,151

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 17,169 10,380
Taxation and social security 36,895 36,903
Other creditors 2,310 2,625
56,374 49,908

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 8,000 8,000
Between one and five years 32,000 32,000
In more than five years 14,926 22,926
54,926 62,926

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2023 and 31st March 2022:

2023 2022
£    £   
Ms E J Boriosi
Balance outstanding at start of year 2,262 5,004
Amounts advanced 740 2,262
Amounts repaid (2,262 ) (5,004 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 740 2,262

The director's advances and repayments shown above represent the total of various transactions during the year. No interest was charged on the advances.