Company registration number 08249875 (England and Wales)
SPRING HARVEST HOLIDAYS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
SPRING HARVEST HOLIDAYS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
SPRING HARVEST HOLIDAYS LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
1
1
Current assets
Debtors
5
1,255,060
806,839
Cash at bank and in hand
162,306
261,851
1,417,366
1,068,690
Creditors: amounts falling due within one year
6
(4,041,545)
(734,044)
Net current (liabilities)/assets
(2,624,179)
334,646
Total assets less current liabilities
(2,624,178)
334,647
Creditors: amounts falling due after more than one year
7
-
0
(2,911,000)
Net liabilities
(2,624,178)
(2,576,353)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(2,624,278)
(2,576,453)
Total equity
(2,624,178)
(2,576,353)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 19 March 2025 and are signed on its behalf by:
D Dorricott
P Martin
Director
Director
Company registration number 08249875 (England and Wales)
SPRING HARVEST HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

Spring Harvest Holidays Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 14 Horsted Square, Uckfield, East Sussex, TN22 1QG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The 2024 financial year showed stability in group financial performance. Following strong growth in 2023 and 2024 the group are budgeting for an increase in performance but at a more steady increase in light of the current political situation in Europe.  The company remains dependent on the parent company ZipAddress Ltd for long term loan finance and short term seasonal cash flow support. The Directors are confident that the parent company will continue its support for the foreseeable future and for this reason the financial statements are prepared on a going concern basis.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
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 current liabilities.

SPRING HARVEST HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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 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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

SPRING HARVEST HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
Movements in fixed asset investments
Shares in subsidiaries
Loans to subsidiaries
Total
£
£
£
Cost or valuation
At 1 November 2023 & 31 October 2024
1
1,592,206
1,592,207
Impairment
At 1 November 2023 & 31 October 2024
-
1,592,206
1,592,206
Carrying amount
At 31 October 2024
1
-
1
At 31 October 2023
1
-
1
SPRING HARVEST HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
7,711
584
Amounts owed by group undertakings
1,191,449
758,523
Other debtors
55,900
47,732
1,255,060
806,839
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
434,066
52,177
Amounts owed to group undertakings
3,507,372
603,792
Deferred income
14,730
28,424
Other creditors
85,377
49,651
4,041,545
734,044
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
-
0
2,911,000
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Paul Newton FCA
Statutory Auditor:
Xeinadin Audit Limited
Date of audit report:
26 March 2025
SPRING HARVEST HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
9
Related party transactions

During the year £nil (2023: £1,013) was invoiced to SAS SHH Le Pas Opton (a subsidiary of the company) and expenditure of £nil (2023: £1,015,845) was charged including a £nil (2023: £nil) capital gift. Interest of £58,166 (2023: £49,477) and a charge for management and administration services of £nil (2023: £nil) was made to SAS SHH Le Pas Opton. At the year end a balance of £1,191,448 (2023: £758,523) was due to be received from that company.

During the year a loan advance of £575,000 (2023: £570,000) was received from ZipAddress Ltd, the parent company registered in the Isle of Man. Repayments of £575,000 (2023: £570,000) were made during the year. At the year end a total balance of £3,211,000 (2023: £3,211,000) was due to that company.

At the year end a balance of £296,373 (2023: £303,793) was due to ZipAddress SHH Ltd, a fellow group company registered in England.

 

10
Security

Lloyds bank hold an unlimited debenture incorporating a fixed and floating charge on assets of the company in relation to internet banking facilities.

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