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REGISTERED NUMBER: NI620837 (Northern Ireland)















NORTHERN VIEW HOLIDAY HOMES LTD

Unaudited Financial Statements for the Year Ended 29 February 2024






NORTHERN VIEW HOLIDAY HOMES LTD (REGISTERED NUMBER: NI620837)






Contents of the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


NORTHERN VIEW HOLIDAY HOMES LTD

Company Information
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: P McGurk
N McGurk
K Lynch





REGISTERED OFFICE: Brookmount
18 Dungannon Road
Cookstown
Co. Tyrone
BT80 8TL





REGISTERED NUMBER: NI620837 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

NORTHERN VIEW HOLIDAY HOMES LTD (REGISTERED NUMBER: NI620837)

Statement of Financial Position
29 FEBRUARY 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Property, plant and equipment 5 42,674 53,342

CURRENT ASSETS
Inventories 6 2,048,590 2,395,715
Receivables: amounts falling due within
one year

7

25,029

211,148
Cash at bank 227,828 99,261
2,301,447 2,706,124
PAYABLES
Amounts falling due within one year 8 (2,152,627 ) (2,604,472 )
NET CURRENT ASSETS 148,820 101,652
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,494

154,994

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 191,492 154,992
SHAREHOLDERS' FUNDS 191,494 154,994

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 17 October 2024 and were signed on its behalf by:





N McGurk - Director


NORTHERN VIEW HOLIDAY HOMES LTD (REGISTERED NUMBER: NI620837)

Notes to the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Northern View Holiday Homes Ltd is a private company, limited by shares, registered in Northern Ireland within the United Kingdom. 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 House Act 2006. The accounting policies outlined below have been applied consistently throughout the year.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared on a going concern basis under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods:
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the significant risks and rewards of ownership have been transferred to the buyer;
- the company retains no continuing involvement or control over the goods;
- the amount of revenue can be measured reliably;
- it is probable that future economic benefits will flow to the company
- the costs incurred or to be incurred in respect of the transaction can be measured

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Annual contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as deduction, net of tax, from the proceeds.

NORTHERN VIEW HOLIDAY HOMES LTD (REGISTERED NUMBER: NI620837)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and hire purchase contracts are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

NORTHERN VIEW HOLIDAY HOMES LTD (REGISTERED NUMBER: NI620837)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£
COST
At 1 March 2023
and 29 February 2024 70,187
DEPRECIATION
At 1 March 2023 16,845
Charge for year 10,668
At 29 February 2024 27,513
NET BOOK VALUE
At 29 February 2024 42,674
At 28 February 2023 53,342

6. INVENTORIES
2024 2023
£ £
Finished goods 2,048,590 2,395,715

7. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other receivables 11,790 110,740
Amounts owed by related undertakings - 100,022
Prepayments and accrued income 13,239 386
25,029 211,148

The amounts owed by related undertakings are interest free and recoverable on demand.

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade payables 938,352 1,633,833
Amounts owed to group undertakings 50,000 410,000
Amounts owed to related parties 378,940 -
Taxation and social security 93,876 215,898
Other payables 691,459 344,741
2,152,627 2,604,472

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary 1 2 2

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.