2022-12-162023-12-312023-12-31false14545900North Devon Holiday Cottages 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North Devon Holiday Cottages Limited

Registered Number
14545900
(England and Wales)

Unaudited Financial Statements for the Period ended
31 December 2023

North Devon Holiday Cottages Limited
Company Information
for the period from 16 December 2022 to 31 December 2023

Directors

A East
L A East

Registered Address

79 Higher Bore Street
Bodmin
PL31 1JT

Registered Number

14545900 (England and Wales)
North Devon Holiday Cottages Limited
Balance Sheet as at
31 December 2023

Notes

2023

£

£

Fixed assets
Tangible assets3178,739
178,739
Current assets
Debtors48,177
Cash at bank and on hand346
48,523
Creditors amounts falling due within one year4(191,261)
Net current assets (liabilities)(142,738)
Total assets less current liabilities36,001
Net assets36,001
Capital and reserves
Called up share capital100
Profit and loss account35,901
Shareholders' funds36,001
The financial statements were approved and authorised for issue by the Board of Directors on 13 September 2024, and are signed on its behalf by:
A East
Director
Registered Company No. 14545900
North Devon Holiday Cottages Limited
Notes to the Financial Statements
for the period ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

2023
Average number of employees during the year3
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
Additions9,78988,33534,53685,599218,259
At 31 December 239,78988,33534,53685,599218,259
Depreciation and impairment
Charge for year-9,6498,63421,23739,520
At 31 December 23-9,6498,63421,23739,520
Net book value
At 31 December 239,78978,68625,90264,362178,739
At 15 December 22-----
4.Creditors: amounts due within one year

2023

£
Trade creditors / trade payables3,063
Taxation and social security614
Other creditors186,509
Accrued liabilities and deferred income1,075
Total191,261
5.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
A East0381,601195,063186,538
0381,601195,063186,538