Company No:
Contents
DIRECTOR | S A Stanley |
REGISTERED OFFICE | Stanley Lain House |
Trebudannon | |
Newquay | |
TR8 4LP | |
England | |
United Kingdom |
COMPANY NUMBER | 04502158 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Lowin House | |
Tregolls Road | |
Truro | |
Cornwall TR1 2NA |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
|
|
|
Tangible assets | 4 |
|
|
|
Investment property | 5 |
|
|
|
Investments | 6 |
|
|
|
1,304,520 | 5,922,917 | |||
Current assets | ||||
Stocks | 7 |
|
|
|
Debtors | 8 |
|
|
|
Cash at bank and in hand | 9 |
|
|
|
7,838,733 | 9,086,341 | |||
Creditors: amounts falling due within one year | 10 | (
|
(
|
|
Net current assets | 5,608,183 | 6,516,232 | ||
Total assets less current liabilities | 6,912,703 | 12,439,149 | ||
Provision for liabilities |
|
(
|
||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital |
|
|
||
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Director's responsibilities:
The financial statements of Unique Home Stays Limited (registered number:
S A Stanley
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Unique Home Stays Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Stanley Lain House, Trebudannon, Newquay, TR8 4LP, England, United Kingdom.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Other intangible assets |
|
Land and buildings | not depreciated |
Plant and machinery etc. |
|
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
|
|
Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2023 |
|
|
|
At 31 December 2023 |
|
|
|
Accumulated amortisation | |||
At 01 January 2023 |
|
|
|
Charge for the financial year |
|
|
|
At 31 December 2023 |
|
|
|
Net book value | |||
At 31 December 2023 |
|
|
|
At 31 December 2022 |
|
|
Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2023 |
|
|
|
||
Additions |
|
|
|
||
Disposals | (
|
(
|
(
|
||
At 31 December 2023 |
|
|
|
||
Accumulated depreciation | |||||
At 01 January 2023 |
|
|
|
||
Charge for the financial year |
|
|
|
||
Disposals |
|
(
|
(
|
||
At 31 December 2023 |
|
|
|
||
Net book value | |||||
At 31 December 2023 |
|
|
|
||
At 31 December 2022 |
|
|
|
Investment property | |
£ | |
Valuation | |
As at 01 January 2023 |
|
Additions | 475,000 |
As at 31 December 2023 |
|
Valuation
The property was valued by an independent estate agent prior to its transfer into the company, at an open market value of £475,000.
Assumptions
These assumptions were arrived at taking account of information and advice from external property consultants, in-house property experts, publicly available data and judgement. A significant level of uncertainty exists in relation to these assumptions and any changes in these assumptions could have a material impact on the carrying value of Investment Property in the financial statements. The 2023 valuations were made by the director, on an open market value for existing use basis.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
2023 | 2022 | ||
£ | £ | ||
Historic cost | 475,000 | 0 |
2023 | 2022 | ||
£ | £ | ||
Subsidiary undertakings |
|
|
Investments in subsidiaries
2023 | |
£ | |
Cost | |
At 01 January 2023 |
|
Additions |
|
Disposals | (
|
At 31 December 2023 |
|
Provisions for impairment | |
At 01 January 2023 |
|
Impairment |
|
At 31 December 2023 |
|
Carrying value at 31 December 2023 |
|
Carrying value at 31 December 2022 |
|
During the year, the company was party to a demerger transaction, during which it disposed of its investment in its subsidiary, Unique Home Stays Property - UHS Limited.
During the year, Unique Home Stays Limited acquired share capital of £103 in a subsidiary company, Stanley Lain Estates Limited. It increased its investment in the company by converting an intercompany loan into share capital. Subsequently the assets held by Stanley Lain Estates Limited have been distributed up to Unique Home Stays Limited and the investment in Stanley Lain Estates Limited has been impaired accordingly.
2023 | 2022 | ||
£ | £ | ||
Stocks |
|
|
2023 | 2022 | ||
£ | £ | ||
Trade debtors |
|
|
|
Amounts owed by Group undertakings |
|
|
|
Other debtors |
|
|
|
|
|
2023 | 2022 | ||
£ | £ | ||
Cash at bank and in hand |
|
|
|
Short-term deposits |
|
|
|
5,737,889 | 6,001,537 |
2023 | 2022 | ||
£ | £ | ||
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
Transactions with the entity's director
2023 | 2022 | ||
£ | £ | ||
Balance outstanding brought forward | 158,299 | 95 | |
Amounts advanced | 93,052 | 864,783 | |
Amounts repaid | (251,453) | (706,579) | |
Balance outstanding at year end | (102) | 158,299 |
Interest is charged on this loan at a rate of 0%.
Parent Company:
|
Stanley Lain House Trebudannon Newquay TR8 4LP |