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REGISTERED NUMBER: 04261154 (England and Wales)















CHALET SKI HOLIDAYS LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MAY 2024






CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CHALET SKI HOLIDAYS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: J S Osborne
J Osborne





SECRETARY: F M Osborne





REGISTERED OFFICE: 3 Christchurch Terrace
Thorne Road
Doncaster
South Yorkshire
DN1 2HU





REGISTERED NUMBER: 04261154 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 358,333
Tangible assets 6 183,764 197,475
183,764 555,808

CURRENT ASSETS
Debtors 7 170,054 46,188
Cash at bank and in hand 122,924 283,115
292,978 329,303
CREDITORS
Amounts falling due within one year 8 131,038 107,007
NET CURRENT ASSETS 161,940 222,296
TOTAL ASSETS LESS CURRENT
LIABILITIES

345,704

778,104

CREDITORS
Amounts falling due after more than one
year

9

42,167

64,167
NET ASSETS 303,537 713,937

CAPITAL AND RESERVES
Called up share capital 11 1,221,020 1,221,020
Share premium 18,750 18,750
Retained earnings (936,233 ) (525,833 )
SHAREHOLDERS' FUNDS 303,537 713,937

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





J S Osborne - Director


CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Chalet Ski Holidays Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

Going concern
The accounts have been prepared on the going concern basis, the Shareholders will continue to support the business despite the losses incurred. The Chalet's are owned personally by shareholders B & F Osborne and are operated through the Company. The Company continues to take bookings for the 24/25 ski season and holds cash reserves of £123k.

The directors therefore consider the going concern basis appropriate.

Turnover
Turnover represents net invoiced sales of winter holiday packages, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its revised estimated useful life of thirty years, based on an assessment of its value carried out by the directors in the context of the business customer base and long term operational strategy.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Ski equipment - 50% on reducing balance
Fixtures and fittings - 50% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023 1,075,000
Impairments (322,500 )
At 31 May 2024 752,500
AMORTISATION
At 1 June 2023 716,667
Charge for year 35,833
At 31 May 2024 752,500
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 358,333

CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 441,326
Additions 28,380
At 31 May 2024 469,706
DEPRECIATION
At 1 June 2023 243,851
Charge for year 42,091
At 31 May 2024 285,942
NET BOOK VALUE
At 31 May 2024 183,764
At 31 May 2023 197,475

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,760 423
Other debtors 167,294 45,765
170,054 46,188

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,000 22,000
Trade creditors 10,015 10,106
Taxation and social security 28,726 7,440
Other creditors 70,297 67,461
131,038 107,007

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 42,167 64,167

CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 6,875 10,313
Between one and five years - 6,875
6,875 17,188

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,221,020 Ordinary £1 1,221,020 1,221,020

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kelvin Fitton, BA FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

13. RELATED PARTY DISCLOSURES

Made2 Developments Limited
A company with directors and shareholders in common.

At the year end, the company owed £Nil to Made2 Developments (2023: £92 owed to the company).

During the year Made 2 Developments charged the Company £45,000 (2023: £123,000 in respect of management recharges.

SARL Rocky's
A company with directors and shareholders in common.

At the year end, the SARL Rocky's owed the Company £67,827 (2023: £Nil).

During the year the Company charged rents to SARL Rocky's £42,993 (2023: £43,486).

Mr J Osborne

The Company paid £12,600 (2023: £7,200) in respect of rental costs for a property owned personally by the director, used within the business.

14. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


15. ULTIMATE CONTROLLING PARTY

The company is under the control of the Osborne family by virtue of holding interest in 98.3% of the issued ordinary share capital.