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REGISTERED NUMBER: 06613318 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Powder Blue Holidays Ltd

Powder Blue Holidays Ltd (Registered number: 06613318)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Powder Blue Holidays Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr Mathew Spencer Wiggett





REGISTERED OFFICE: Queen Street Chambers
68 Queen Street
Sheffield
South Yorkshire
S1 1WR





REGISTERED NUMBER: 06613318 (England and Wales)





ACCOUNTANTS: Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Powder Blue Holidays Ltd


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Powder Blue Holidays Ltd for the year ended 31 May 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Powder Blue Holidays Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Powder Blue Holidays Ltd and state those matters that we have agreed to state to the director of Powder Blue Holidays Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Powder Blue Holidays Ltd and its director for our work or for this report.

It is your duty to ensure that Powder Blue Holidays Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Powder Blue Holidays Ltd. You consider that Powder Blue Holidays Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Powder Blue Holidays Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR


27 February 2025

Powder Blue Holidays Ltd (Registered number: 06613318)

Balance Sheet
31 May 2024

31/5/24 31/5/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 36,146 25,300

CURRENT ASSETS
Stocks 852 3,521
Debtors 5 7,707 8,109
Cash at bank 116,234 107,006
124,793 118,636
CREDITORS
Amounts falling due within one year 6 (78,196 ) (55,181 )
NET CURRENT ASSETS 46,597 63,455
TOTAL ASSETS LESS CURRENT LIABILITIES 82,743 88,755

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 82,742 88,754
82,743 88,755

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 February 2025 and were signed by:





Mr Mathew Spencer Wiggett - Director


Powder Blue Holidays Ltd (Registered number: 06613318)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Powder Blue Holidays Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Powder Blue Holidays Ltd (Registered number: 06613318)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 expenses 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 a least twelve months after the reporting date.

Going concern
The director has considered the company to be a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Powder Blue Holidays Ltd (Registered number: 06613318)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 33,384 34,116 1,572 69,072
Additions 1,465 27,232 233 28,930
Disposals (13,229 ) (15,933 ) - (29,162 )
At 31 May 2024 21,620 45,415 1,805 68,840
DEPRECIATION
At 1 June 2023 27,526 15,925 321 43,772
Charge for year 1,764 1,632 342 3,738
Eliminated on disposal (12,824 ) (1,992 ) - (14,816 )
At 31 May 2024 16,466 15,565 663 32,694
NET BOOK VALUE
At 31 May 2024 5,154 29,850 1,142 36,146
At 31 May 2023 5,858 18,191 1,251 25,300

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Other debtors 7,707 8,109

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Taxation and social security 3,476 2,114
Other creditors 74,720 53,067
78,196 55,181

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/5/24 31/5/23
£    £   
Within one year 10,452 -
Between one and five years 13,025 -
23,477 -

Powder Blue Holidays Ltd (Registered number: 06613318)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31/5/24 31/5/23
£    £   
Mr Mathew Spencer Wiggett
Balance outstanding at start of year (818 ) 306
Amounts advanced (18,860 ) (20,676 )
Amounts repaid 18,730 19,552
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (948 ) (818 )