Company registration number 10393549 (England and Wales)
Visit Yorkshire Holdings Ltd
Unaudited
financial statements
for the year ended 31 January 2024
PAGES FOR FILING WITH REGISTRAR
Visit Yorkshire Holdings Ltd
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
Visit Yorkshire Holdings Ltd
Statement of financial position
as at 31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
27,885,864
11,704,777
Investments
5
202
202
27,886,066
11,704,979
Current assets
Debtors
6
3,551,604
348,170
Cash at bank and in hand
572,925
145,276
4,124,529
493,446
Creditors: amounts falling due within one year
7
(1,597,759)
(677,868)
Net current assets/(liabilities)
2,526,770
(184,422)
Total assets less current liabilities
30,412,836
11,520,557
Creditors: amounts falling due after more than one year
8
(22,000,000)
(5,536,686)
Provisions for liabilities
9
(1,494,874)
(1,495,141)
Net assets
6,917,962
4,488,730
Capital and reserves
Called up share capital
10
10
10
Revaluation reserve
6,485,301
6,485,301
Profit and loss reserves
432,651
(1,996,581)
Total equity
6,917,962
4,488,730
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 June 2024 and are signed on its behalf by:
P M Barker
Director
Company Registration No. 10393549
Visit Yorkshire Holdings Ltd
Statement Of Changes In Equity
for the year ended 31 January 2024
- 2 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 February 2022
10
6,485,301
(2,259,696)
4,225,615
Year ended 31 January 2023:
Profit and total comprehensive income
-
-
263,115
263,115
Balance at 31 January 2023
10
6,485,301
(1,996,581)
4,488,730
Year ended 31 January 2024:
Profit and total comprehensive income
-
-
2,605,732
2,605,732
Dividends
-
-
(176,500)
(176,500)
Balance at 31 January 2024
10
6,485,301
432,651
6,917,962
Visit Yorkshire Holdings Ltd
Notes to the financial statements
for the year ended 31 January 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Group accounts
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No depreciation
Fixtures and fittings
20% reducing balance
Freehold land and buildings are not depreciated during the period. The directors consider the revalued carrying amount at the year end represents the fair value of the properties.
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Visit Yorkshire Holdings Ltd
Notes to the financial statements (continued)
for the year ended 31 January 2024
1
Accounting policies
(continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised as an asset and liability arises, in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences represent accumulated differences between the company's taxable profit and its financial profit and arise from accelerated capital allowances and unrealised gains on revalued property.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
Visit Yorkshire Holdings Ltd
Notes to the financial statements (continued)
for the year ended 31 January 2024
- 5 -
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost or valuation
At 1 February 2023
11,541,187
359,731
11,900,918
Additions
16,213,805
16,213,805
At 31 January 2024
27,754,992
359,731
28,114,723
Depreciation and impairment
At 1 February 2023
196,141
196,141
Depreciation charged in the year
32,718
32,718
At 31 January 2024
228,859
228,859
Carrying amount
At 31 January 2024
27,754,992
130,872
27,885,864
At 31 January 2023
11,541,187
163,590
11,704,777
5
Fixed asset investments
2024
2023
£
£
Investments
202
202
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 February 2023
202
Additions
4,953,929
Disposals
(4,953,929)
At 31 January 2024
202
Carrying amount
At 31 January 2024
202
At 31 January 2023
202
Visit Yorkshire Holdings Ltd
Notes to the financial statements (continued)
for the year ended 31 January 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
114,545
164,590
Corporation tax recoverable
21,197
Amounts owed by group undertakings
56,500
Other debtors
3,286,782
162,383
Prepayments and accrued income
93,777
3,551,604
348,170
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
750,000
309,504
Amounts due to group undertakings
21,718
Corporation tax
8,499
Other creditors
682,736
323,951
Accruals and deferred income
143,305
35,914
1,597,759
677,868
The bank loans are secured.
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
22,000,000
5,536,686
The bank loans are secured.
9
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
1,494,874
1,495,141
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10
10
10
10
Visit Yorkshire Holdings Ltd
Notes to the financial statements (continued)
for the year ended 31 January 2024
- 7 -
11
Company information
Visit Yorkshire Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.
2024-01-312023-02-01false05 June 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityP M BarkerA L Barkerfalsefalse103935492023-02-012024-01-31103935492024-01-31103935492023-01-3110393549core:LandBuildingscore:OwnedOrFreeholdAssets2024-01-3110393549core:FurnitureFittings2024-01-3110393549core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-3110393549core:FurnitureFittings2023-01-3110393549core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3110393549core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3110393549core:CurrentFinancialInstruments2024-01-3110393549core:CurrentFinancialInstruments2023-01-3110393549core:Non-currentFinancialInstruments2024-01-3110393549core:Non-currentFinancialInstruments2023-01-3110393549core:ShareCapital2024-01-3110393549core:ShareCapital2023-01-3110393549core:RevaluationReserve2024-01-3110393549core:RevaluationReserve2023-01-3110393549core:RetainedEarningsAccumulatedLosses2024-01-3110393549core:RetainedEarningsAccumulatedLosses2023-01-3110393549core:ShareCapital2022-01-3110393549core:RevaluationReserve2022-01-3110393549core:RetainedEarningsAccumulatedLosses2022-01-3110393549bus:Director12023-02-012024-01-3110393549core:RetainedEarningsAccumulatedLosses2022-02-012023-01-31103935492022-02-012023-01-3110393549core:RetainedEarningsAccumulatedLosses2023-02-012024-01-3110393549core:LandBuildingscore:OwnedOrFreeholdAssets2023-02-012024-01-3110393549core:FurnitureFittings2023-02-012024-01-3110393549core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-3110393549core:FurnitureFittings2023-01-31103935492023-01-3110393549bus:PrivateLimitedCompanyLtd2023-02-012024-01-3110393549bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3110393549bus:FRS1022023-02-012024-01-3110393549bus:AuditExemptWithAccountantsReport2023-02-012024-01-3110393549bus:Director22023-02-012024-01-3110393549bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP