Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-310false2023-01-01falseThe principal activity of the company in the year under review continued to be that of arranging holiday accommodation in Italy.2220trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04022417 2023-01-01 2023-12-31 04022417 2022-01-01 2022-12-31 04022417 2023-12-31 04022417 2022-12-31 04022417 c:CompanySecretary1 2023-01-01 2023-12-31 04022417 c:Director1 2023-01-01 2023-12-31 04022417 c:Director2 2023-01-01 2023-12-31 04022417 c:RegisteredOffice 2023-01-01 2023-12-31 04022417 d:MotorVehicles 2023-01-01 2023-12-31 04022417 d:MotorVehicles 2023-12-31 04022417 d:MotorVehicles 2022-12-31 04022417 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04022417 d:OfficeEquipment 2023-01-01 2023-12-31 04022417 d:OfficeEquipment 2023-12-31 04022417 d:OfficeEquipment 2022-12-31 04022417 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04022417 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04022417 d:ComputerSoftware 2023-12-31 04022417 d:ComputerSoftware 2022-12-31 04022417 d:CurrentFinancialInstruments 2023-12-31 04022417 d:CurrentFinancialInstruments 2022-12-31 04022417 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04022417 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04022417 d:ShareCapital 2023-12-31 04022417 d:ShareCapital 2022-12-31 04022417 d:RetainedEarningsAccumulatedLosses 2023-12-31 04022417 d:RetainedEarningsAccumulatedLosses 2022-12-31 04022417 c:FRS102 2023-01-01 2023-12-31 04022417 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04022417 c:FullAccounts 2023-01-01 2023-12-31 04022417 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04022417 2 2023-01-01 2023-12-31 04022417 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 04022417


TO TUSCANY LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
TO TUSCANY LTD
 
 
COMPANY INFORMATION


Directors
S Caulfield 
L Leggate 




Company secretary
L Leggate



Registered number
04022417



Registered office
72 Chestfield Road
Chestfield

Whistable

Kent

CT5 3LU




Accountants
Xeinadin London Limited

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD





 
TO TUSCANY LTD
 

CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 9


 
TO TUSCANY LTD
REGISTERED NUMBER: 04022417

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 6 
41,948
8,097

Investments
 7 
532,042
488,399

  
573,990
496,496

Current assets
  

Debtors: amounts falling due within one year
 8 
236,969
61,868

Cash at bank and in hand
  
1,150,522
1,279,765

  
1,387,491
1,341,633

Creditors: amounts falling due within one year
 9 
(940,475)
(1,036,317)

Net current assets
  
 
 
447,016
 
 
305,316

Total assets less current liabilities
  
1,021,006
801,812

Provisions for liabilities
  

Deferred tax
  
(7,859)
-

  
 
 
(7,859)
 
 
-

Net assets
  
1,013,147
801,812


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
1,013,145
801,810

  
1,013,147
801,812


Page 1

 
TO TUSCANY LTD
REGISTERED NUMBER: 04022417
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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 by: 




S Caulfield
Director

Date: 20 September 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
TO TUSCANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

To Tuscany Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. 
The address of the registered office is given in the company information page within these financial statements. 
The nature of the company's operations and principal activities continued to be that of arranging holiday accommodation in Italy.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

  
2.3

Revenue

Revenue represents commission receivable excluding VAT, for customers departing during the financial year, recognised on a departure date basis.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure. 
During the prior year the Company benefited from taking advantage of government support in the form of the Coronavirus Job Retention Scheme (CJRS) and local government support (see note 3).

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
TO TUSCANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
TO TUSCANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance basis
Office equipment
-
25% straight line basis

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
TO TUSCANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

 
2.16

Dividends

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.

  
2.17

Advance Bookings

All amounts received from customers relating to holidays with departures after the year end are disclosed under accruals and deferred income.


3.


Other operating income

2023
2022
£
£



Local government grants receivable
-
10,193

Coronavirus Job Retention Scheme
-
29,283

-
39,476


4.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
2
2



Staff
20
18

22
20

Page 6

 
TO TUSCANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Intangible assets




Website

£



Cost


At 1 January 2023
380,684



At 31 December 2023

380,684



Amortisation


At 1 January 2023
380,684



At 31 December 2023

380,684



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 7

 
TO TUSCANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
49,601
83,780
133,381


Additions
33,325
8,592
41,917



At 31 December 2023

82,926
92,372
175,298



Depreciation


At 1 January 2023
45,929
79,355
125,284


Charge for the year on owned assets
4,337
3,729
8,066



At 31 December 2023

50,266
83,084
133,350



Net book value



At 31 December 2023
32,660
9,288
41,948



At 31 December 2022
3,672
4,425
8,097


7.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Total

£
£
£



Cost or valuation


At 1 January 2023
85
488,314
488,399


Additions
-
52,325
52,325


Disposals
-
(51,970)
(51,970)


Revaluations
-
43,288
43,288



At 31 December 2023
85
531,957
532,042




Page 8

 
TO TUSCANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Debtors

2023
2022
£
£


Trade debtors
109,645
46,961

Amounts owed by group undertakings
104,881
-

Other debtors
22,443
13,830

Deferred taxation
-
1,077

236,969
61,868



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
230
1,315

Amounts owed to group undertakings
85
85

Corporation tax
36,535
72,419

Other taxation and social security
2,706
13,410

Other creditors
30,474
48,860

Accruals and deferred income
870,445
900,228

940,475
1,036,317


Included within accruals and deferred income is an amount of £836,808 (2022: £873,382) in relation to monies received from customers in respect of future departures.


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund.  Contributions totalling £Nil (2022: £Nil) were payable to the fund at the reporting date and are included in creditors.


11.


Related party transactions

As at the year end date, the company is owed £104,796 by To Tuscany Marlisea EU Limited- a fully owned subsidiary of To Tuscany Limited. 
During the year, dividends of £104,410 (2022: £95,190) were distributed to the shareholders. 


12.


Controlling party

The ultimate controlling party of the company is S P Caulfiled.

 
Page 9