Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Kayla Dunne 01/09/2023 Andrew Hird 18/07/2013 Bee Wood 27/09/2023 05/11/2014 18 March 2025 The principal activity of the Company is to promote North Norfolk as a tourism destination and to support the promotion of local destinations and tourism businesses. 08010422 2024-03-31 08010422 bus:Director1 2024-03-31 08010422 bus:Director2 2024-03-31 08010422 bus:Director3 2024-03-31 08010422 2023-03-31 08010422 core:CurrentFinancialInstruments 2024-03-31 08010422 core:CurrentFinancialInstruments 2023-03-31 08010422 core:ShareCapital 2024-03-31 08010422 core:ShareCapital 2023-03-31 08010422 core:RetainedEarningsAccumulatedLosses 2024-03-31 08010422 core:RetainedEarningsAccumulatedLosses 2023-03-31 08010422 core:ComputerEquipment 2023-03-31 08010422 core:ComputerEquipment 2024-03-31 08010422 2023-04-01 2024-03-31 08010422 bus:FilletedAccounts 2023-04-01 2024-03-31 08010422 bus:SmallEntities 2023-04-01 2024-03-31 08010422 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08010422 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08010422 bus:Director1 2023-04-01 2024-03-31 08010422 bus:Director2 2023-04-01 2024-03-31 08010422 bus:Director3 2023-04-01 2024-03-31 08010422 core:ComputerEquipment core:TopRangeValue 2023-04-01 2024-03-31 08010422 2022-04-01 2023-03-31 08010422 core:ComputerEquipment 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 08010422 (England and Wales)

VISIT NORTH NORFOLK COAST & COUNTRYSIDE LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

VISIT NORTH NORFOLK COAST & COUNTRYSIDE LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

VISIT NORTH NORFOLK COAST & COUNTRYSIDE LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
VISIT NORTH NORFOLK COAST & COUNTRYSIDE LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,370 849
1,370 849
Current assets
Debtors 4 36,217 81,680
Cash at bank and in hand 66,053 32,250
102,270 113,930
Creditors: amounts falling due within one year 5 ( 108,266) ( 72,269)
Net current (liabilities)/assets (5,996) 41,661
Total assets less current liabilities (4,626) 42,510
Net (liabilities)/assets ( 4,626) 42,510
Capital and reserves
Called-up share capital 0 0
Profit and loss account ( 4,626 ) 42,510
Total shareholders' (deficit)/funds ( 4,626) 42,510

For the financial year ending 31 March 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 Visit North Norfolk Coast & Countryside Ltd (registered number: 08010422) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Andrew Hird
Director
Kayla Dunne
Director

18 March 2025

VISIT NORTH NORFOLK COAST & COUNTRYSIDE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
VISIT NORTH NORFOLK COAST & COUNTRYSIDE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Visit North Norfolk Coast & Countryside Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 80 Grove Lane, Holt, NR25 6ED, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. A Director has continued to provide a personal guarantee of £10,000 to enable cashflow obligations to be met for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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 Statement of Financial Position date.

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 and freehold land, 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:

Computer equipment 3 years straight line

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Company status

The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1.00 towards the assets of the Company in the event of liquidation.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 1

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 April 2023 2,980 2,980
Additions 1,168 1,168
At 31 March 2024 4,148 4,148
Accumulated depreciation
At 01 April 2023 2,131 2,131
Charge for the financial year 647 647
At 31 March 2024 2,778 2,778
Net book value
At 31 March 2024 1,370 1,370
At 31 March 2023 849 849

4. Debtors

2024 2023
£ £
Trade debtors 13,893 72,964
Prepayments 20,758 8,716
VAT recoverable 1,566 0
36,217 81,680

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 24,827 2,479
Other loans 4,000 4,000
Accruals and deferred income 76,839 52,339
Taxation and social security 2,145 13,104
Other creditors 455 347
108,266 72,269

6. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 455 347

7. Related party transactions

Transactions with the entity's directors

Guarantees

A Director has provided a personal guarantee to a maximum value of £10,000 in order to ensure that no long term creditors are at risk, enabling cashflow to be managed effectively.