Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-04-01falseManagement of real estate on a fee or contract basis43truefalse 12711343 2023-04-01 2024-03-31 12711343 2024-03-31 12711343 2022-04-01 2023-03-31 12711343 2023-03-31 12711343 c:Director1 2023-04-01 2024-03-31 12711343 d:FurnitureFittings 2023-04-01 2024-03-31 12711343 d:FurnitureFittings 2024-03-31 12711343 d:FurnitureFittings 2023-03-31 12711343 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12711343 d:ComputerEquipment 2023-04-01 2024-03-31 12711343 d:ComputerEquipment 2024-03-31 12711343 d:ComputerEquipment 2023-03-31 12711343 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12711343 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12711343 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 12711343 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 12711343 d:CurrentFinancialInstruments 2024-03-31 12711343 d:CurrentFinancialInstruments 2023-03-31 12711343 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12711343 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12711343 d:ShareCapital 2024-03-31 12711343 d:ShareCapital 2023-03-31 12711343 d:RetainedEarningsAccumulatedLosses 2024-03-31 12711343 d:RetainedEarningsAccumulatedLosses 2023-03-31 12711343 c:FRS102 2023-04-01 2024-03-31 12711343 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12711343 c:FullAccounts 2023-04-01 2024-03-31 12711343 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12711343 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-04-01 2024-03-31 12711343 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 12711343


COOL ESCAPES LIMITED (PREVIOUSLY LAND SOCIAL LIMITED)








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
COOL ESCAPES LIMITED
REGISTERED NUMBER: 12711343

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
30,380
34,261

Tangible assets
 5 
3,022
1,406

  
33,402
35,667

Current assets
  

Debtors: amounts falling due within one year
 6 
654
-

Cash at bank and in hand
 7 
11,974
23,283

  
12,628
23,283

Creditors: amounts falling due within one year
 8 
(63,743)
(85,125)

Net current liabilities
  
 
 
(51,115)
 
 
(61,842)

Total assets less current liabilities
  
(17,713)
(26,175)

  

Net liabilities
  
(17,713)
(26,175)


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
(27,713)
(36,175)

  
(17,713)
(26,175)


Page 1

 
COOL ESCAPES LIMITED
REGISTERED NUMBER: 12711343
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Dr Y Romahi
Director

Date: 31 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
COOL ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Cool Escapes Limited is a private company limited by shares, incorporated in England and Wales, registration number 12711343. The registered office is Oak Apples Old Road, Headington, Oxford, England, OX3 8TA. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The company had net liabilities of £17,713 (2023: £26,175) at the balance sheet date.
The financial statements have been prepared under the going concern basis due to the fact that the directors have carried out a review of the cash needs of the business for a period in excess of the next 12 months and are satisfied that there will be sufficient resources to meet any reasonably foreseeable requirements. Accordingly, it is appropriate to apply the going concern basis in preparing these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
COOL ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company contributes into a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
COOL ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Straight Line
Computer equipment
-
33%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
COOL ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 3).

Page 6

 
COOL ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets



Development expenditure

£



Cost


At 1 April 2023
38,805



At 31 March 2024

38,805



Amortisation


At 1 April 2023
4,544


Charge for the year on owned assets
3,881



At 31 March 2024

8,425



Net book value



At 31 March 2024
30,380



Page 7

 
COOL ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
1,436
-
1,436


Additions
-
2,936
2,936



At 31 March 2024

1,436
2,936
4,372



Depreciation


At 1 April 2023
30
-
30


Charge for the year on owned assets
351
969
1,320



At 31 March 2024

381
969
1,350



Net book value



At 31 March 2024
1,055
1,967
3,022


6.


Debtors

2024
2023
£
£


Amounts owed to other participating interests
118
-

Prepayments and accrued income
536
-

654
-



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
11,974
23,283

11,974
23,283


Page 8

 
COOL ESCAPES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
-
99

Other creditors
61,103
83,260

Accruals and deferred income
2,640
1,766

63,743
85,125



9.


Pension commitments

The Company contributes into a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £785 (2023: £NIL).
Contributions totalling £Nil (2023: £Nil) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

Included within other creditors is a balance due to Dr Y Romahi who is director of the company. The balance at the year end amounted to £61,103 (2023: £83,260). This loan is interest free and repayable on demand.


11.


Controlling party

The company's ultimate controlling party is Dr Y Romahi by virtue of his ownership of the issued share capital in the company.

 
Page 9