Registration number:
Greatdays Holiday Services Limited
for the Year Ended 31 December 2023
Greatdays Holiday Services Limited
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Greatdays Holiday Services Limited
(Registration number: 01923310)
Statement of Financial Position as at 31 December 2023
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2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' deficit |
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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:
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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
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Greatdays Holiday Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Development costs |
Total |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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Amortisation |
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At 1 January 2023 |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Greatdays Holiday Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Debtors |
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2023 |
2022 |
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Trade debtors |
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Amounts owed by related parties |
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Other debtors |
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Prepayments |
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Greatdays Holiday Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Creditors |
Creditors: amounts falling due within one year
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2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Other non-current financial liabilities |
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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
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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2022 |
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Current loans and borrowings |
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Bank borrowings |
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