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Registration number: 01923310

Greatdays Holiday Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Greatdays Holiday Services Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 8

 

Greatdays Holiday Services Limited

(Registration number: 01923310)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,786

3,650

Current assets

 

Debtors

6

211,772

238,057

Cash at bank and in hand

 

414,978

325,540

 

626,750

563,597

Creditors: Amounts falling due within one year

7

(572,385)

(635,459)

Net current assets/(liabilities)

 

54,365

(71,862)

Total assets less current liabilities

 

57,151

(68,212)

Creditors: Amounts falling due after more than one year

7

(509,416)

(515,641)

Net liabilities

 

(452,265)

(583,853)

Capital and reserves

 

Called up share capital

5,000

5,000

Retained earnings

(457,265)

(588,853)

Shareholders' deficit

 

(452,265)

(583,853)

For the financial year ending 31 December 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.

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 Income Statement.

Approved and authorised by the Board on 27 March 2024 and signed on its behalf by:
 

.........................................
Mr A Beard
Director

   
     
 

Greatdays Holiday Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Chapel House
1 Borough Road
Altrincham
Cheshire
WA15 9RA
United Kingdom

These financial statements were authorised for issue by the Board on 27 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis., which assumes that the company will continue in operational existence for the foreseeable future. Accordingly, the assets are recognised and measured on the basis that the company expects to recover the recorded amounts in the normal course of business and the liabilities are measured on the basis that they will be discharged in the normal course of business.

The validity of the assumptions depends on the continued support of the company's creditors, shareholder and related company.

The directors are satisfied that this continued support has been grated and the directors therefore consider that it is appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

The turnover shown in the statement of income respresents the revenue recognised by the company in respect of services supplied, exclusive anf Value Adeed Tax and trade discounts. Turnover is recognised in the statement of income in the period that the tour organised by the company commences. Accrued income is recognised where a tour has commenced but has not been invoiced for and income is deferred and recognised as deferred income, where a tour due to commence in the following year has been invoiced for. Tour costs follow the same treatment as turnover with reference to the tour commencement date.

 

Greatdays Holiday Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible 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 assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Fixtures and fittings

16.67% reducing balance

Equipment

25% reducing balance

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

Development costs

Over a period of 3 years

Trademarks

Over a period of 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Greatdays Holiday Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Greatdays Holiday Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2022 - 11).

4

Intangible assets

Development costs
 £

Total
£

Cost or valuation

At 1 January 2023

39,875

39,875

At 31 December 2023

39,875

39,875

Amortisation

At 1 January 2023

39,875

39,875

At 31 December 2023

39,875

39,875

Carrying amount

At 31 December 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

290,453

290,453

At 31 December 2023

290,453

290,453

Depreciation

At 1 January 2023

286,803

286,803

Charge for the year

864

864

At 31 December 2023

287,667

287,667

Carrying amount

At 31 December 2023

2,786

2,786

At 31 December 2022

3,650

3,650

 

Greatdays Holiday Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

74,212

122,450

Amounts owed by related parties

8

-

359

Other debtors

 

135,413

114,448

Prepayments

 

2,147

800

 

211,772

238,057

 

Greatdays Holiday Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

6,328

6,328

Trade creditors

 

130,319

68,387

Taxation and social security

 

10,812

6,153

Accruals and deferred income

 

324,926

454,591

Other creditors

 

100,000

100,000

 

572,385

635,459

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

36,916

43,141

Other non-current financial liabilities

 

472,500

472,500

 

509,416

515,641

8

Related party transactions

Directors' Loans

As at 31 December 2023 the company owed £100,000 to P J Beaumont (2022: £100,000). The loan is not secured and attracts interest at a commercial rate.

Related Party Transactions

Greatdays Holidays Limited is a company controlled by J P Beaumont's close family. During the year, the company was reimbursed costs of £32,454 (2022: £65,340) from Greatdays Holidays Limited. These costs were recharged to Greatdays Holidays Limited at cost during the year. In addition, during the year the company made purchases of £17,139 (2022: £6,956) from Greatdays Holidays Limited.

 

Greatdays Holiday Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

36,916

43,141

2023
£

2022
£

Current loans and borrowings

Bank borrowings

6,328

6,328