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REGISTERED NUMBER: 01084447 (England and Wales)










HIDEAWAY COUNTRY HOLIDAYS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 6


HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,350 1,898,755
Investments 5 50,732 50,732
Investment property 6 1,875,814 -
1,932,896 1,949,487

CURRENT ASSETS
Debtors 7 712,279 712,169
Cash at bank 9,757 16,706
722,036 728,875
CREDITORS
Amounts falling due within one year 8 2,268,971 2,154,882
NET CURRENT LIABILITIES (1,546,935 ) (1,426,007 )
TOTAL ASSETS LESS CURRENT LIABILITIES 385,961 523,480

CREDITORS
Amounts falling due after more than one year 9 14,806 24,946
NET ASSETS 371,155 498,534

CAPITAL AND RESERVES
Called up share capital 10 200 200
Revaluation reserve 11 955,009 955,009
Capital reserves 1,220,300 1,220,300
Retained earnings (1,804,354 ) (1,676,975 )
SHAREHOLDERS' FUNDS 371,155 498,534

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447)

BALANCE SHEET - continued
31ST DECEMBER 2023


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 20th September 2024 and were signed on its behalf by:





M E Kim - Director


HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Hideaway Country Holidays Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01084447

Registered office: 3365 The Pentagon
Century Way
Thorpe Park
Leeds
West Yorkshire
LS15 8ZB

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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 and rounded to the nearest £1.

These accounts have been prepared on the going concern basis on the understanding that the parent group will continue to provide additional funding as and when required and will not seek repayment of monies owing to them until such funds are available.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from lodgings and guest services are recognised on the departure date when final payment is taken. Deposits including non-refundable deposits are recognised at the event date.

Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation or valuation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings- 20% on reducing balance
Motor vehicles- 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Investments
The investments, comprising antique furniture, are measured at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st January 2023 1,875,814 380,960 2,256,774
Reclassification (1,875,814 ) - (1,875,814 )
At 31st December 2023 - 380,960 380,960
DEPRECIATION
At 1st January 2023 - 358,019 358,019
Charge for year - 4,588 4,588
Impairments - 12,003 12,003
At 31st December 2023 - 374,610 374,610
NET BOOK VALUE
At 31st December 2023 - 6,350 6,350
At 31st December 2022 1,875,814 22,941 1,898,755

Cost or valuation at 31st December 2023 is represented by:

Plant and
machinery
etc
£   
Valuation in 1998 380,960

The freehold land and buildings has been reclassified as an investment property in the year.


5. FIXED ASSET INVESTMENTS

The investments comprise antique furniture and other items held and used used in the company's land and buildings.

The cost and net book value of the fixed asset investments at 31st December 2023 were £50,732 (2022: £50,732).

HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Reclassification/transfer 1,875,814
At 31st December 2023 1,875,814
NET BOOK VALUE
At 31st December 2023 1,875,814

Investment property represents land and buildings transferred from tangible fixed assets.

Fair value at 31st December 2023 is represented by:
£   
Valuation in 2023 942,878
Cost 932,936
1,875,814

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 712,279 712,169

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 1,880 1,739
Other creditors 2,267,091 2,153,143
2,268,971 2,154,882

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 14,806 24,946

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
100 Preference - 3.5%
non-cumulative £1 100 100
200 200

11. RESERVES

The revaluation reserve is a non-distributable reserve arising on revaluations of the company's investment property.

The capital reserve is a non-distributable reserve arising on capitalization of a loan.

HIDEAWAY COUNTRY HOLIDAYS LTD (REGISTERED NUMBER: 01084447)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


12. RELATED PARTY DISCLOSURES

Included in other debtors is a balance due from the immediate parent of £711,979. The balance is interest free and repayable on demand.

Included in other creditors is a balance due to Infinesse Corporation, a fellow subsidiary, of £2,255,218 (2022: £2,141,789). The balance is interest free and repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The immediate parent company is Infinesse LLC, a company incorporated in the USA.

The ultimate controlling parties are the directors by virtue of being Trustees of the controlling Trust of Infinesse LLC.

14. CONTINGENT LIABILITY

In connection with the acquisition of the entire share capital of the company by Infinesse LLC, the company has given a debenture in favour of the Royal Bank of Scotland plc securing its obligations under a guarantee for monies lent to its immediate parent, Infinesse LLC. Under this debenture, the company charges the whole and any part of its undertaking, property and assets to The Royal Bank of Scotland plc. No liability is s recognised in this respect.