Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Sarah Olivia Allanson 17/05/2024 Richard Martin John Cooke 19/11/2007 Eleanor Rose Howse 17/05/2024 Katherine Frances Sleath 17/05/2024 07 March 2025 The principal activity of the company continued to be that of holiday cottage lettings. SC329435 2024-12-31 SC329435 bus:Director1 2024-12-31 SC329435 bus:Director2 2024-12-31 SC329435 bus:Director3 2024-12-31 SC329435 bus:Director4 2024-12-31 SC329435 2023-12-31 SC329435 core:CurrentFinancialInstruments 2024-12-31 SC329435 core:CurrentFinancialInstruments 2023-12-31 SC329435 core:Non-currentFinancialInstruments 2024-12-31 SC329435 core:Non-currentFinancialInstruments 2023-12-31 SC329435 core:ShareCapital 2024-12-31 SC329435 core:ShareCapital 2023-12-31 SC329435 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC329435 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC329435 core:FurnitureFittings 2023-12-31 SC329435 core:FurnitureFittings 2024-12-31 SC329435 bus:OrdinaryShareClass1 2024-12-31 SC329435 2024-01-01 2024-12-31 SC329435 bus:FilletedAccounts 2024-01-01 2024-12-31 SC329435 bus:SmallEntities 2024-01-01 2024-12-31 SC329435 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC329435 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC329435 bus:Director1 2024-01-01 2024-12-31 SC329435 bus:Director2 2024-01-01 2024-12-31 SC329435 bus:Director3 2024-01-01 2024-12-31 SC329435 bus:Director4 2024-01-01 2024-12-31 SC329435 core:FurnitureFittings 2024-01-01 2024-12-31 SC329435 2023-01-01 2023-12-31 SC329435 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 SC329435 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 SC329435 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC329435 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC329435 (Scotland)

SPRINGWELL HOLIDAYS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

SPRINGWELL HOLIDAYS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

SPRINGWELL HOLIDAYS LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024
SPRINGWELL HOLIDAYS LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 46 61
Investment property 4 714,396 714,396
714,442 714,457
Current assets
Cash at bank and in hand 5 7,093 14,377
7,093 14,377
Creditors: amounts falling due within one year 6 ( 788,085) ( 402,309)
Net current liabilities (780,992) (387,932)
Total assets less current liabilities (66,550) 326,525
Creditors: amounts falling due after more than one year 7 0 ( 400,000)
Net liabilities ( 66,550) ( 73,475)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 66,650 ) ( 73,575 )
Total shareholders' deficit ( 66,550) ( 73,475)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Springwell Holidays Limited (registered number: SC329435) were approved and authorised for issue by the Board of Directors on 07 March 2025. They were signed on its behalf by:

Richard Martin John Cooke
Director
SPRINGWELL HOLIDAYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
SPRINGWELL HOLIDAYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Springwell Holidays Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Colthill, Edzell, Brechin, DD9 7FA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £66,550. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable in respect of holiday lettings and is included in the profit and loss account in the period it relates. The company is not registered for VAT.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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 fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a 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 assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and loans, 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 1

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 January 2024 6,075 6,075
At 31 December 2024 6,075 6,075
Accumulated depreciation
At 01 January 2024 6,014 6,014
Charge for the financial year 15 15
At 31 December 2024 6,029 6,029
Net book value
At 31 December 2024 46 46
At 31 December 2023 61 61

4. Investment property

Investment property
£
Valuation
As at 01 January 2024 714,396
As at 31 December 2024 714,396

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 7,093 14,377

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other taxation and social security 1,679 1,903
Other creditors 786,406 400,406
788,085 402,309

There are no amounts included above in respect of which any security has been given by the small entity.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 0 400,000

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due to directors 783,946 395,546

In this period, advances totalling £400,000 have been made to directors and £11,600 has been repaid. This loan is unsecured, has no fixed terms of repayment and no interest has been charged.