Registered number
10383625
Holiday Exclusives Ltd
Unaudited Filleted Accounts
31 December 2023
Holiday Exclusives Ltd
Registered number: 10383625
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 944 1,647
Current assets
Debtors 4 120,301 191,685
Cash at bank and in hand 17,066 39,690
137,367 231,375
Creditors: amounts falling due within one year 5 (101,741) (181,740)
Net current assets 35,626 49,635
Total assets less current liabilities 36,570 51,282
Creditors: amounts falling due after more than one year 6 (36,455) (50,317)
Net assets 115 965
Capital and reserves
Called up share capital 100 100
Profit and loss account 15 865
Shareholders' funds 115 965
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Orrell
Director
Approved by the board on 4 April 2024
Holiday Exclusives Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33.33% Straight Line
Fixtures, fittings, tools and equipment 33.33% Straight Line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 2,108
At 31 December 2023 2,108
Depreciation
At 1 January 2023 461
Charge for the year 703
At 31 December 2023 1,164
Net book value
At 31 December 2023 944
At 31 December 2022 1,647
4 Debtors 2023 2022
£ £
Trade debtors 50,303 46,048
Other debtors 69,998 145,637
120,301 191,685
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 26,915 21,942
Taxation and social security costs 71,331 119,426
Other creditors 3,495 40,372
101,741 181,740
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 36,455 50,317
7 Related party transactions
Future Digital Group Limited
The director and shareholder, C Orrell, holds the majority ownership and serves as a director of Future Digital Group Limited as well. There are no outstanding amounts due from related parties, £Nil in 2023 (compared to £76,425 in 2022). During the year, Future Digital Group Limited invoiced £160,575 for management fees (compared to £Nil in 2022), categorised as consultancy fees in the profit and loss statement.
Tripspiration Limited
The director and shareholder, C Orrell, holds the majority ownership and serves as a director of Future Digital Group Limited as well. The outstanding amount owed by related parties was £14,183 in 2023 (compared to £12,450 in 2022).
Directors' Loan
A loan extended to the director, C Orrell, totals £40,500, and is recorded under other debtors in the balance sheet statement. The loan, bearing an interest rate of 2%, is expected to be fully repaid by 30 September 2024.
8 Controlling party
The ultimate controlling party is C Orrell, by virtue of his 100% ownership of the issued share capital of the company.
9 Other information
Holiday Exclusives Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2nd Floor
Nucleus House
2 Lower Mortlake Road
Richmond
TW9 2JA
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