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Registration number: 10701016

Holidays By Design (Cleethorpes) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Holidays By Design (Cleethorpes) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Holidays By Design (Cleethorpes) Limited

(Registration number: 10701016)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

46,802

65,285

Current assets

 

Debtors

5

155,459

157,920

Cash at bank and in hand

 

201,026

229,262

 

356,485

387,182

Creditors: Amounts falling due within one year

6

(315,788)

(333,263)

Net current assets

 

40,697

53,919

Total assets less current liabilities

 

87,499

119,204

Creditors: Amounts falling due after more than one year

6

-

(43,321)

Provisions for liabilities

(11,701)

-

Net assets

 

75,798

75,883

Capital and reserves

 

Called up share capital

99

99

Retained earnings

75,699

75,784

Shareholders' funds

 

75,798

75,883

For the financial year 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 year 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.

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 29 October 2024 and signed on its behalf by:
 

.........................................
J J Fairfield
Director

 

Holidays By Design (Cleethorpes) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5 St Peters Avenue
Cleethorpes
DN35 8HQ

The company's accounts were previously prepared in accordance with FRS 105 however as the company no longer qualifies as a micro-entity, the company qualifies as small and chooses to prepare accounts usings FRS 102 Section 1A.

These financial statements were authorised for issue by the Board on 29 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.

The financial statements have been prepared for the individual entity and are presented in sterling and rounded to the nearest pound.

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.

Tax

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

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 taxable income.

 

Holidays By Design (Cleethorpes) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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

Fixtures and fittings

10 - 33% straight line

Motor vehicles

25% straight line

Leasehold improvements

17% straight line

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 14 (2023 - 13).

 

Holidays By Design (Cleethorpes) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

10,774

21,646

61,470

93,890

Additions

-

1,131

-

1,131

At 31 March 2024

10,774

22,777

61,470

95,021

Depreciation

At 1 April 2023

10,086

12,351

6,168

28,605

Charge for the year

214

4,033

15,367

19,614

At 31 March 2024

10,300

16,384

21,535

48,219

Carrying amount

At 31 March 2024

474

6,393

39,935

46,802

At 31 March 2023

688

9,295

55,302

65,285

Included within the net book value of land and buildings above is £474 (2023 - £688) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

131,923

78,565

Prepayments

8,038

12,418

Other debtors

15,498

66,937

 

155,459

157,920

 

Holidays By Design (Cleethorpes) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

291

20,303

Trade creditors

 

721

32,854

Taxation and social security

 

89,282

95,448

Accruals and deferred income

 

158,271

147,830

Other creditors

 

67,223

36,828

 

315,788

333,263

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

-

43,321

2024
£

2023
£

Due after more than five years

-

-

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

43,321

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

20,012

Other borrowings

291

291

291

20,303

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £23,441 (2023 - £38,246).

 

Holidays By Design (Cleethorpes) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Transition to FRS 102

The company's accounts were previously prepared in accordance with FRS 105 however as the company no longer qualifies as a micro-entity and is considered small it has choosen to prepare accounts under FRS 102 Section 1A.

The transition has not had an effect on the company's accounting polices.

Balance Sheet at 1 April 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Called up share capital

99

-

-

99

Retained earnings

5,945

-

-

5,945

Total equity

6,044

-

-

6,044

 

Holidays By Design (Cleethorpes) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Balance Sheet at 31 March 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Called up share capital

99

-

-

99

Retained earnings

75,784

-

-

75,784

Total equity

75,883

-

-

75,883