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REGISTERED NUMBER: 13367924 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

SWANAGE ESCAPES LIMITED

SWANAGE ESCAPES LIMITED (REGISTERED NUMBER: 13367924)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SWANAGE ESCAPES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: R Gilbert
R M Daley





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 13367924 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

SWANAGE ESCAPES LIMITED (REGISTERED NUMBER: 13367924)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,570 21,293
Investment property 5 710,012 710,012
722,582 731,305

CURRENT ASSETS
Debtors 6 3,292 5,139
Cash at bank 4,109 8,333
7,401 13,472
CREDITORS
Amounts falling due within one year 7 648,364 672,989
NET CURRENT LIABILITIES (640,963 ) (659,517 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,619

71,788

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 81,519 71,688
81,619 71,788

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 January 2025 and were signed on its behalf by:





R Gilbert - Director


SWANAGE ESCAPES LIMITED (REGISTERED NUMBER: 13367924)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Swanage Escapes 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. 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.

Turnover
Turnover represents the following types of income
- Rental income
- Income from the sale of properties

All income is recognised on a receivable basis.

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

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.

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.

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.

Turnover
Turnover represents the following types of income
- Rental income
- Income from the sale of properties

All income is recognised on a receivable basis.

3. EMPLOYEES AND DIRECTORS

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

SWANAGE ESCAPES LIMITED (REGISTERED NUMBER: 13367924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2023
and 30 April 2024 34,886
DEPRECIATION
At 1 May 2023 13,593
Charge for year 8,723
At 30 April 2024 22,316
NET BOOK VALUE
At 30 April 2024 12,570
At 30 April 2023 21,293

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 710,012
NET BOOK VALUE
At 30 April 2024 710,012
At 30 April 2023 710,012

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 2,594
Amounts owed by associates 290 -
Directors' loan accounts 885 885
Prepayments 2,117 1,660
3,292 5,139

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 699 355
Amounts owed to group undertakings 645,655 670,655
Accrued expenses 2,010 1,979
648,364 672,989

SWANAGE ESCAPES LIMITED (REGISTERED NUMBER: 13367924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
R M Daley
Balance outstanding at start of year 885 50
Amounts advanced - 835
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 885 885

This balance represented the maximum amount outstanding during the period and the loan is interest free and repayable on demand.

9. RELATED PARTY DISCLOSURES

As at the year end £645,599 (2023: £670,599) was owed to Gilbert Investments Limited. All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

As at the year end £56 (2023: £56) was owed to Bellows Equestrian Limited. All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

As at the year end £290 (2023: £nil) was owed by Purbeck Escapes Limited. All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Gilbert and R Daley.

This was by virtue of their 100% holding of the issued share capital.

11. NET CURRENT LIABILITIES

As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. As at the year end, the current liabilities exceeded current assets by £640,962.

The validity of this basis depends upon the continued support of the company's director. The director confirms that he will give the required support.