Registered number
09445903
Holidaypirates Ltd
Filleted Accounts
31 December 2023
Holidaypirates Ltd
Registered number: 09445903
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 9,218 7,407
Current assets
Debtors 5 382,080 1,019,891
Cash at bank and in hand 539,944 1,274,622
922,024 2,294,513
Creditors: amounts falling due within one year 6 (495,669) (1,456,012)
Net current assets 426,355 838,501
Net assets 435,573 845,908
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 434,573 844,908
Shareholders' funds 435,573 845,908
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.
D Armstrong of Garrycastle
Director
Approved by the board on 14 March 2025
Holidaypirates Ltd
Notes to the Accounts
for the year ended 31 December 2023
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:
Plant and machinery at 25% reducing balance
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Audit information
The audit report is unqualified.
Senior statutory auditor: Oliver Read FCCA ACA
Firm: James Todd and Co Limited
Date of audit report: 14 March 2025
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 16 8
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 11,735
Additions 5,279
Disposals (1,248)
At 31 December 2023 15,766
Depreciation
At 1 January 2023 4,328
Charge for the year 3,073
On disposals (853)
At 31 December 2023 6,548
Net book value
At 31 December 2023 9,218
At 31 December 2022 7,407
5 Debtors 2023 2022
£ £
Trade debtors 240,282 212,833
Accrued income 113,210 618,803
Due from group undertakings - 141,688
Corporation tax - 43,746
Prepayments 2,571 1,400
Other debtors 26,017 1,421
382,080 1,019,891
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 6,407 5,792
Due to group undertakings - 1,197,989
Other taxes and social security 192,622 235,355
Due to group undertakings 263,170 -
Provision for doubtful debts 9,216 -
Accruals 23,682 16,876
Other creditors 572 -
495,669 1,456,012
7 Other information
Holidaypirates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
No 1 Royal Exchange
London
EC3V 3DG
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