Registered number: 11919623
HOLISTICA DESTINATIONS, LTD.
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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HOLISTICA DESTINATIONS, LTD.
REGISTERED NUMBER: 11919623
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 July 2024.
The notes on pages 4 to 7 form part of these financial statements.
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HOLISTICA DESTINATIONS, LTD.
REGISTERED NUMBER: 11919623
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023
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HOLISTICA DESTINATIONS, LTD.
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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Comprehensive income for the year
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Contributions by and distributions to owners
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Shares issued during the year
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Restated as at 1 January 2023
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Comprehensive income for the year
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The notes on pages 4 to 7 form part of these financial statements.
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HOLISTICA DESTINATIONS, LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Holistica Destinations, Ltd is a private company limited by shares, incorporated in England and Wales, registered number 11919623.
The registered and trading address is 8 Bishopsgate, London, EC2N 4BQ.
The principal activity is the development, construction and operation of cruise ports and related real estate interests and amenities, including all potential businesses tailored to the users of the developed cruise ports.
The financial statements have been presented in US dollars ($). In preparing the financial statements, the directors consider it appropriate to present the accounnts in US dollars as it is the functional currency due to all future revenues being generated in US dollars and the majority of future associated costs.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
During the year ended 31 December 2023 the company made a loss of $44,560 (2022: $281,026) and had retained losses of $590,637 (2022: $546,077) as at that date. The financial statements have been prepared on a going concern basis, the applicability of which is dependent on the financial support from the ultimate shareholders.
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Foreign currency translation
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Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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HOLISTICA DESTINATIONS, LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Work in progress includes labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short term creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the year was 5 (2022 - 5).
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HOLISTICA DESTINATIONS, LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Amounts owed by joint ventures
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The below table detemines the amounts owing to and from the joint ventures totalling the final net position shown in the table above
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HOLISTICA DESTINATIONS, LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Creditors: Amounts falling due within one year
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Allotted, called up and fully paid
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2,562,624 (2022 - 2,562,624) Ordinary shares of $1.00 each
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Allotted, called up and partly paid
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7,113,458 (2022 - 7,113,458) Ordinary shares of $1.00 each
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Share capital and debtors in the year ended 31 December 2022 have been increased by $1,307,548 due to an omission of shares issued on the 14 October 2022. As a result of this correction, the overall effect of the adjustment was to increase the share capital from $8,368,534 to $9,676,082 and increase debtors from $4,301,109 to $5,608,533.
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Related party transactions
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Included within debtors due within one year is $5,637,063 (restated 2022: $5,608,533) due from entities, connected by virtue of their shareholdings in Holistica Destinations Ltd.
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