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COMPANY REGISTRATION NUMBER: 12111016
Make Holiday Memories Ltd
Filleted Unaudited Financial Statements
31 July 2024
Make Holiday Memories Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
815
364
Current assets
Debtors
7
5,652
1,846
Cash at bank and in hand
30,192
23,938
--------
--------
35,844
25,784
Creditors: amounts falling due within one year
8
8,860
8,118
--------
--------
Net current assets
26,984
17,666
--------
--------
Total assets less current liabilities
27,799
18,030
--------
--------
Net assets
27,799
18,030
--------
--------
Capital and reserves
Called up share capital
9
2
2
Profit and loss account
27,797
18,028
--------
--------
Shareholders funds
27,799
18,030
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Make Holiday Memories Ltd
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 2 April 2025 , and are signed on behalf of the board by:
J R Partridge
Director
Company registration number: 12111016
Make Holiday Memories Ltd
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 49 Shimbrooks, Great Leighs, Chelmsford, CM3 1SG, Essex.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences
-
4 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Financial instruments
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 entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 August 2023 and 31 July 2024
15,795
--------
Amortisation
At 1 August 2023 and 31 July 2024
15,795
--------
Carrying amount
At 31 July 2024
--------
At 31 July 2023
--------
6. Tangible assets
Equipment
£
Cost
At 1 August 2023
716
Additions
666
-------
At 31 July 2024
1,382
-------
Depreciation
At 1 August 2023
352
Charge for the year
215
-------
At 31 July 2024
567
-------
Carrying amount
At 31 July 2024
815
-------
At 31 July 2023
364
-------
7. Debtors
2024
2023
£
£
Trade debtors
5,652
1,686
Other debtors
160
-------
-------
5,652
1,846
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
349
1,038
Accruals and deferred income
1,915
1,655
Corporation tax
2,566
3,250
Social security and other taxes
3,006
1,663
Director loan accounts
1,024
512
-------
-------
8,860
8,118
-------
-------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
9,505
9,505
Later than 1 year and not later than 5 years
4,752
14,257
--------
--------
14,257
23,762
--------
--------
11. Related party transactions
At the year end the company owed the directors £1,024 (2023 - £512) by way of a directors loan account which is shown amongst creditors.