Registered number
10777051
Dringhoe Holiday Cottages Ltd
Filleted Accounts
31 May 2024
Dringhoe Holiday Cottages Ltd
Registered number: 10777051
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 513,693 529,476
Current assets
Debtors 4 679 -
Cash at bank and in hand 11,978 23,906
12,657 23,906
Creditors: amounts falling due within one year 5 (490,476) (524,804)
Net current liabilities (477,819) (500,898)
Total assets less current liabilities 35,874 28,578
Provisions for liabilities (3,088) (3,986)
Net assets 32,786 24,592
Capital and reserves
Called up share capital 100 100
Profit and loss account 32,686 24,492
Shareholders' funds 32,786 24,592
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Taylor
Director
Approved by the board on 18 February 2025
Dringhoe Holiday Cottages Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Furniture, fittings and equipment 25% on written down value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 552,712 63,703 616,415
Additions - 869 869
Disposals - (899) (899)
At 31 May 2024 552,712 63,673 616,385
Depreciation
At 1 June 2023 44,216 42,723 86,939
Charge for the year 11,054 5,343 16,397
On disposals - (644) (644)
At 31 May 2024 55,270 47,422 102,692
Net book value
At 31 May 2024 497,442 16,251 513,693
At 31 May 2023 508,496 20,980 529,476
4 Debtors 2024 2023
£ £
Other debtors 679 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 7,202 3,455
Taxation and social security costs 5,454 7,344
Other creditors 477,820 514,005
490,476 524,804
6 Other information
Dringhoe Holiday Cottages Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Dringhoe Hall
Dringhoe
Driffield
YO25 8AG
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