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Registration number: 08118498

Salty Holidays Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Salty Holidays Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Salty Holidays Limited

Company Information

Directors

D Giles

G D Giles

Company secretary

D Giles

Registered office

Lime House
St Peter Street
Bishops Waltham
Hampshire
SO32 1AD

Accountants

Harmer Slater Limited
79a High Street
Teddington
Middlesex
TW11 8HG

 

Salty Holidays Limited

(Registration number: 08118498)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible fixed assets

5

463,753

471,909

Current assets

 

Debtors

6

3,261

4,316

Cash at bank and in hand

 

42,694

56,650

 

45,955

60,966

Creditors: Amounts falling due within one year

7

(22,428)

(31,587)

Net current assets

 

23,527

29,379

Net assets

 

487,280

501,288

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

487,180

501,188

Shareholders' funds

 

487,280

501,288

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss account.

The financial statements of Salty Holidays Limited were approved and authorised for issue by the Board on 6 March 2024 and signed on its behalf by:
 

 

Salty Holidays Limited

(Registration number: 08118498)
Balance Sheet as at 30 June 2023 (continued)

.........................................

D Giles
Company secretary and director

 

Salty Holidays Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

1

General information

Salty Holidays Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

 

Salty Holidays Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax.

Tangible fixed assets

Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

2% on cost

Equipment,fixtures and fittings

20% on cost

Goodwill

Goodwill consists of purchased goodwill.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% of purchased goodwill

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and bank balances.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

 

Salty Holidays Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

100,000

100,000

At 30 June 2023

100,000

100,000

Amortisation

At 1 July 2022

100,000

100,000

At 30 June 2023

100,000

100,000

Carrying amount

At 30 June 2023

-

-

 

Salty Holidays Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023 (continued)

5

Tangible fixed assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

517,494

117,076

634,570

Additions

-

2,846

2,846

At 30 June 2023

517,494

119,922

637,416

Depreciation

At 1 July 2022

60,000

102,661

162,661

Charge for the year

6,000

5,002

11,002

At 30 June 2023

66,000

107,663

173,663

Carrying amount

At 30 June 2023

451,494

12,259

463,753

At 30 June 2022

457,494

14,415

471,909

Included within the net book value of land and buildings above is £451,494 (2022 - £457,494) in respect of freehold land and buildings.
 

6

Debtors

2023
£

2022
£

Prepayments

3,261

4,316

3,261

4,316

 

Salty Holidays Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade payables

906

1,500

Accruals

3,237

2,397

Deferred income

18,285

27,690

22,428

31,587

8

Reserves

The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

Share capital
£

Profit and loss account
£

Total
£

At 1 July 2022

100

501,188

501,288

Loss for the year

-

(14,008)

(14,008)

Total comprehensive income

-

(14,008)

(14,008)

9

Dividends

   

2023

 

2022

   

£

 

£

Final dividend of £Nil (2022 - £500.00) per ordinary share

 

-

 

25,000

         

There was a dividend waiver for 50 shares.

 

Salty Holidays Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023 (continued)

10

Share capital

Allotted, called up and fully paid shares.

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100