Company No:
Contents
DIRECTORS | Michelle Yvonne Allen-Ford |
David Nicholas Frank Hanmer | |
Sarah Hanmer | |
James Anthony Hayden Norton |
REGISTERED OFFICE | Elliott House |
Church Street | |
Kingsbridge | |
TQ7 1BY | |
United Kingdom |
COMPANY NUMBER | 14628746 (England and Wales) |
ACCOUNTANT | Old Mill Accountancy Limited |
Leeward House | |
Fitzroy Road | |
Exeter Business Park | |
Exeter | |
Devon | |
EX1 3LJ |
Note | 31.12.2024 | 31.12.2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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1,744,394 | 2,114,195 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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87,034 | 62,494 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (2,041,099) | (1,761,556) | ||
Total assets less current liabilities | (296,705) | 352,639 | ||
Creditors: amounts falling due after more than one year | 6 |
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account | (
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Total shareholder's deficit | (
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Rumsey of Sandbanks Holiday Homes Limited (registered number:
James Anthony Hayden Norton
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Rumsey of Sandbanks Holiday Homes Limited (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 Elliott House, Church Street, Kingsbridge, TQ7 1BY, 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 £.
The company incorporated on 31 January 2023 and commenced trading on 31st January 2023. The comparative period to 31 December 2023, therefore, covered a period of 11 months, including 11 months of trade. The current period to 31 December 2024 covered a 12 month period and therefore the results are not wholly comparable.
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.
Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:
Goodwill |
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Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
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 Statement of Income and Retained Earnings as described below.
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.
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.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
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.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Year ended 31.12.2024 |
Period from 31.01.2023 to 31.12.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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The parent company maintains a payroll and wages are recharged to this company to reflect the time those employees spent working on activities of this company. These employees are on the payroll of the parent company and, therefore, are not employed by this company, nor included in the monthly average number of employees above.
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2024 |
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At 31 December 2024 |
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Accumulated amortisation | |||
At 01 January 2024 |
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Charge for the financial year |
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Impairment losses |
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At 31 December 2024 |
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Net book value | |||
At 31 December 2024 |
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At 31 December 2023 |
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31.12.2024 | 31.12.2023 | ||
£ | £ | ||
Other debtors |
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31.12.2024 | 31.12.2023 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Accruals |
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Other taxation and social security |
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Other creditors |
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31.12.2024 | 31.12.2023 | ||
£ | £ | ||
Other creditors |
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Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
31.12.2024 | 31.12.2023 | ||
£ | £ | ||
within one year |
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between one and five years |
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