Company registration number 10375758 (England and Wales)
360 PRIVATE VILLAS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
360 PRIVATE VILLAS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
360 PRIVATE VILLAS LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors falling due after more than one year
4
24,970
2,721
Debtors falling due within one year
4
851,537
293,563
Cash at bank and in hand
101,298
656,329
977,805
952,613
Creditors: amounts falling due within one year
5
(686,725)
(763,711)
Net current assets
291,080
188,902
Creditors: amounts falling due after more than one year
6
(20,766)
(5,591)
Net assets
270,314
183,311
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
270,214
183,211
Total equity
270,314
183,311

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 12 September 2024 and are signed on its behalf by:
Mr J P Turner
Director
Company registration number 10375758 (England and Wales)
360 PRIVATE VILLAS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2022
100
169,261
169,361
Year ended 31 May 2023:
Profit and total comprehensive income
-
113,950
113,950
Dividends
-
(100,000)
(100,000)
Balance at 31 May 2023
100
183,211
183,311
Year ended 31 May 2024:
Profit and total comprehensive income
-
187,003
187,003
Dividends
-
(100,000)
(100,000)
Balance at 31 May 2024
100
270,214
270,314
360 PRIVATE VILLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

360 Private Villas Limited is a private company limited by shares incorporated in England and Wales. The registered office is 54 High Street, Sevenoaks, TN13 1JG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of 360 Private Travel Limited. These consolidated financial statements are available from its registered office, 54 High Street, Sevenoaks, TN13 1JG.

1.2
Turnover

Turnover represents commission received for services provided in the period. Commission income is recognised when client travel arrangements are concluded, this being the earliest point at which the company is entitled to commission.

 

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments
360 PRIVATE VILLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

360 PRIVATE VILLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
504,950
275,907
Amounts owed by group undertakings
322,685
-
0
Other debtors
23,902
17,656
851,537
293,563
2024
2023
Amounts falling due after more than one year:
£
£
Trade debtors
24,970
2,721
Total debtors
876,507
296,284
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
559,199
555,092
Amounts owed to group undertakings
-
0
121,537
Corporation tax
75,375
79,942
Other taxation and social security
1,160
1,982
Other creditors
50,991
5,158
686,725
763,711
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Trade creditors
20,766
5,591
360 PRIVATE VILLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
7
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Management charges
2024
2023
£
£
Entities with control, joint control or significant influence over the company
150,000
-
2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
-
0
121,537

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
333,318
-
8
Directors' transactions

Dividends totalling £30,000 (2023 - £30,000) were paid in the year in respect of shares held by the company's directors.

9
Parent company

The company is a 70% subsidiary of 360 Private Travel Limited.

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