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REGISTERED NUMBER: 14126048 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 23 MAY 2022 TO 31 MAY 2023

FOR

SHERWOOD HOLIDAY LETS LTD

SHERWOOD HOLIDAY LETS LTD (REGISTERED NUMBER: 14126048)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 23 MAY 2022 TO 31 MAY 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


SHERWOOD HOLIDAY LETS LTD (REGISTERED NUMBER: 14126048)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

Notes £   
FIXED ASSETS
Tangible assets 4 14,330
Investment property 5 166,902
181,232

CURRENT ASSETS
Debtors 6 29,172
Cash at bank 3,034
32,206
CREDITORS
Amounts falling due within one year 7 (130,627 )
NET CURRENT LIABILITIES (98,421 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,811

CREDITORS
Amounts falling due after more than one
year

8

(95,010

)
NET LIABILITIES (12,199 )

CAPITAL AND RESERVES
Called up share capital 2
Retained earnings (12,201 )
(12,199 )

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

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

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.

SHERWOOD HOLIDAY LETS LTD (REGISTERED NUMBER: 14126048)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 Board of Directors and authorised for issue on 23 February 2024 and were signed on its behalf by:





R E Sherwood - Director


SHERWOOD HOLIDAY LETS LTD (REGISTERED NUMBER: 14126048)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 23 MAY 2022 TO 31 MAY 2023


1. STATUTORY INFORMATION

Sherwood Holiday Lets Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 14126048

Registered office: 32 Main Street
Fleckney
Leicester
Leicestershire
LE8 8AN

The principal activity of the company is that of the provision of serviced accommodation.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern
The accounts have been prepared on the going concern basis. The directors believe this to be appropriate as they have expressed their willingness to support the business financially for the forseable future.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investment properties

The open market value of the investment properties has been determined by the directors, based on their experience of the market.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% reducing balance
Computer equipment - straight line over 3 years

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

SHERWOOD HOLIDAY LETS LTD (REGISTERED NUMBER: 14126048)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 23 MAY 2022 TO 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


SHERWOOD HOLIDAY LETS LTD (REGISTERED NUMBER: 14126048)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 23 MAY 2022 TO 31 MAY 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 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 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 2 .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
Additions 15,000 597 15,597
At 31 May 2023 15,000 597 15,597
DEPRECIATION
Charge for period 1,250 17 1,267
At 31 May 2023 1,250 17 1,267
NET BOOK VALUE
At 31 May 2023 13,750 580 14,330

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 166,902
At 31 May 2023 166,902
NET BOOK VALUE
At 31 May 2023 166,902

SHERWOOD HOLIDAY LETS LTD (REGISTERED NUMBER: 14126048)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 23 MAY 2022 TO 31 MAY 2023


5. INVESTMENT PROPERTY - continued

The directors consider the investment properties to be stated at fair value as at 31 May 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 8,287
Deferred tax assets 6,221
Amounts due from connected
companies 4,949
VAT 9,715
29,172

Amounts owed by connected companies are unsecured, interest free and are repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts 1,950
Amounts due to connected
companies 62,962
Directors' loan accounts 64,515
Accruals and deferred income 1,200
130,627

Amounts owed to connected companies are unsecured, interest free and are repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other loans more 5 years
non-installments 87,860
Hire purchase contracts 7,150
95,010

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5 years
non-installments 87,860
87,860

The other loans are secured by way of a fixed charge over the investment property.

9. EVENTS AFTER THE END OF REPORTING PERIOD

There were no significant events up to the date of the approval of the financial statements by the Board.

SHERWOOD HOLIDAY LETS LTD (REGISTERED NUMBER: 14126048)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 23 MAY 2022 TO 31 MAY 2023


10. GOING CONCERN

The accounts have been prepared on the going concern basis. The directors believe this to be appropriate as they have expressed their willingness to support the business financially for the forseable future.