Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Michelle Yvonne Allen-Ford 31/01/2023 David Nicholas Frank Hanmer 31/01/2023 Sarah Hanmer 31/01/2023 James Anthony Hayden Norton 31/01/2023 25 March 2025 The principle activity of the company during the financial year was that of travel agency activities. 14628746 2024-12-31 14628746 bus:Director1 2024-12-31 14628746 bus:Director2 2024-12-31 14628746 bus:Director3 2024-12-31 14628746 bus:Director4 2024-12-31 14628746 2023-12-31 14628746 core:CurrentFinancialInstruments 2024-12-31 14628746 core:CurrentFinancialInstruments 2023-12-31 14628746 core:Non-currentFinancialInstruments 2024-12-31 14628746 core:Non-currentFinancialInstruments 2023-12-31 14628746 core:ShareCapital 2024-12-31 14628746 core:ShareCapital 2023-12-31 14628746 core:RetainedEarningsAccumulatedLosses 2024-12-31 14628746 core:RetainedEarningsAccumulatedLosses 2023-12-31 14628746 core:Goodwill 2023-12-31 14628746 core:Goodwill 2024-12-31 14628746 core:WithinOneYear 2024-12-31 14628746 core:WithinOneYear 2023-12-31 14628746 core:BetweenOneFiveYears 2024-12-31 14628746 core:BetweenOneFiveYears 2023-12-31 14628746 2024-01-01 2024-12-31 14628746 bus:FilletedAccounts 2024-01-01 2024-12-31 14628746 bus:SmallEntities 2024-01-01 2024-12-31 14628746 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 14628746 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14628746 bus:Director1 2024-01-01 2024-12-31 14628746 bus:Director2 2024-01-01 2024-12-31 14628746 bus:Director3 2024-01-01 2024-12-31 14628746 bus:Director4 2024-01-01 2024-12-31 14628746 core:Goodwill core:TopRangeValue 2024-01-01 2024-12-31 14628746 2023-01-31 2023-12-31 14628746 core:Goodwill 2024-01-01 2024-12-31 14628746 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 14628746 (England and Wales)

RUMSEY OF SANDBANKS HOLIDAY HOMES LIMITED

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

RUMSEY OF SANDBANKS HOLIDAY HOMES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

RUMSEY OF SANDBANKS HOLIDAY HOMES LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
RUMSEY OF SANDBANKS HOLIDAY HOMES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
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
RUMSEY OF SANDBANKS HOLIDAY HOMES LIMITED

BALANCE SHEET

As at 31 December 2024
RUMSEY OF SANDBANKS HOLIDAY HOMES LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 31.12.2024 31.12.2023
£ £
Fixed assets
Intangible assets 3 1,744,394 2,114,195
1,744,394 2,114,195
Current assets
Debtors 4 4,842 0
Cash at bank and in hand 82,192 62,494
87,034 62,494
Creditors: amounts falling due within one year 5 ( 2,128,133) ( 1,824,050)
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 0 ( 660,000)
Net liabilities ( 296,705) ( 307,361)
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account ( 297,705 ) ( 308,361 )
Total shareholder's deficit ( 296,705) ( 307,361)

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 Rumsey of Sandbanks Holiday Homes Limited (registered number: 14628746) were approved and authorised for issue by the Board of Directors on 25 March 2025. They were signed on its behalf by:

James Anthony Hayden Norton
Director
RUMSEY OF SANDBANKS HOLIDAY HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
RUMSEY OF SANDBANKS HOLIDAY HOMES 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 period, unless otherwise stated.

General information and basis of accounting

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 £.

Reporting period length

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.

Turnover

Turnover represents net invoiced short and long term lets for holiday cottages held in the company. Turnover is recognised in full on the first day of each holiday let, at the fair value of the consideration received or receivable, excluding discounts and value added tax.

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.

Intangible assets

Intangible assets relate to goodwill, which arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired.

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 10 years straight line
Leases

The Company as lessee
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.

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 Statement of Income and Retained Earnings as described below.

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.

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.

2. Employees

Year ended
31.12.2024
Period from
31.01.2023 to
31.12.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

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.

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 2,349,106 2,349,106
At 31 December 2024 2,349,106 2,349,106
Accumulated amortisation
At 01 January 2024 234,911 234,911
Charge for the financial year 234,911 234,911
Impairment losses 134,890 134,890
At 31 December 2024 604,712 604,712
Net book value
At 31 December 2024 1,744,394 1,744,394
At 31 December 2023 2,114,195 2,114,195

4. Debtors

31.12.2024 31.12.2023
£ £
Other debtors 4,842 0

5. Creditors: amounts falling due within one year

31.12.2024 31.12.2023
£ £
Trade creditors 15,421 0
Amounts owed to Group undertakings 1,432,000 1,088,646
Accruals 1,190 0
Other taxation and social security 69,522 12,846
Other creditors 610,000 722,558
2,128,133 1,824,050

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

31.12.2024 31.12.2023
£ £
Other creditors 0 660,000

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

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

31.12.2024 31.12.2023
£ £
within one year 15,500 0
between one and five years 37,458 0
52,958 0