Travel Hive Newcastle Ltd NI692995 false 2022-12-05 2024-03-31 2024-03-31 The principal activity of the company is hotel and other accomodation. Digita Accounts Production Advanced 6.30.9574.0 true true NI692995 2022-12-05 2024-03-31 NI692995 2024-03-31 NI692995 bus:OrdinaryShareClass1 2024-03-31 NI692995 core:CurrentFinancialInstruments 2024-03-31 NI692995 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI692995 core:Non-currentFinancialInstruments 2024-03-31 NI692995 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 NI692995 core:FurnitureFittingsToolsEquipment 2024-03-31 NI692995 core:LandBuildings 2024-03-31 NI692995 bus:SmallEntities 2022-12-05 2024-03-31 NI692995 bus:AuditExemptWithAccountantsReport 2022-12-05 2024-03-31 NI692995 bus:FilletedAccounts 2022-12-05 2024-03-31 NI692995 bus:SmallCompaniesRegimeForAccounts 2022-12-05 2024-03-31 NI692995 bus:RegisteredOffice 2022-12-05 2024-03-31 NI692995 bus:Director1 2022-12-05 2024-03-31 NI692995 bus:Director2 2022-12-05 2024-03-31 NI692995 bus:OrdinaryShareClass1 2022-12-05 2024-03-31 NI692995 bus:PrivateLimitedCompanyLtd 2022-12-05 2024-03-31 NI692995 core:RevaluationReserve core:LandBuildings 2022-12-05 2024-03-31 NI692995 core:Buildings 2022-12-05 2024-03-31 NI692995 core:FurnitureFittings 2022-12-05 2024-03-31 NI692995 core:FurnitureFittingsToolsEquipment 2022-12-05 2024-03-31 NI692995 core:LandBuildings 2022-12-05 2024-03-31 NI692995 core:OfficeEquipment 2022-12-05 2024-03-31 NI692995 countries:NorthernIreland 2022-12-05 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI692995

Travel Hive Newcastle Ltd

Filleted Financial Statements

for the Period from 5 December 2022 to 31 March 2024

 

Travel Hive Newcastle Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Travel Hive Newcastle Ltd

Company Information

Directors

Mr Darren Fenton

Mr Raghu Ramaiah

Registered office

39 Middle Tollymore Road
Newcastle
Co Down
BT33 0JJ

 

Travel Hive Newcastle Ltd

(Registration number: NI692995)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

1,653,490

Current assets

 

Debtors

5

14,329

Cash at bank and in hand

 

10,963

 

25,292

Creditors: Amounts falling due within one year

(531,166)

Net current liabilities

 

(505,874)

Total assets less current liabilities

 

1,147,616

Creditors: Amounts falling due after more than one year

(675,821)

Net assets

 

471,795

Capital and reserves

 

Called up share capital

9

100

Revaluation reserve

580,423

Retained earnings

(108,728)

Shareholders' funds

 

471,795

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Travel Hive Newcastle Ltd

(Registration number: NI692995)
Balance Sheet as at 31 March 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 October 2024 and signed on its behalf by:
 

.........................................
Mr Darren Fenton
Director

.........................................
Mr Raghu Ramaiah
Director

 

Travel Hive Newcastle Ltd

Notes to the Unaudited Financial Statements for the Period from 5 December 2022 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
39 Middle Tollymore Road
Newcastle
Co Down
BT33 0JJ

These financial statements were authorised for issue by the Board on 4 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Travel Hive Newcastle Ltd

Notes to the Unaudited Financial Statements for the Period from 5 December 2022 to 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Buildings

2% Straight line

Fixtures and fittings

20% Straight line

Equipment

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Travel Hive Newcastle Ltd

Notes to the Unaudited Financial Statements for the Period from 5 December 2022 to 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1.

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Revaluations

580,423

-

580,423

Additions

1,031,645

61,895

1,093,540

At 31 March 2024

1,612,068

61,895

1,673,963

Depreciation

Charge for the period

12,068

8,405

20,473

At 31 March 2024

12,068

8,405

20,473

Carrying amount

At 31 March 2024

1,600,000

53,490

1,653,490

Included within the net book value of land and buildings above is £1,600,000 in respect of freehold land and buildings.
 

 

Travel Hive Newcastle Ltd

Notes to the Unaudited Financial Statements for the Period from 5 December 2022 to 31 March 2024

5

Debtors

2024
£

Trade debtors

2,295

Other debtors

12,034

14,329

6

Creditors

Note

2024
£

Due within one year

 

Bank loans and overdrafts

8

39,152

Trade creditors

 

33,165

Taxation and social security

 

454

Other creditors

 

458,395

 

531,166

Due after one year

 

Loans and borrowings

8

675,821

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current period were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

580,423

580,423

 

Travel Hive Newcastle Ltd

Notes to the Unaudited Financial Statements for the Period from 5 December 2022 to 31 March 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

Other borrowings

675,821

Current loans and borrowings

2024
£

Other borrowings

39,152

9

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary Share Capital of £1 each

100

100