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REGISTERED NUMBER: SC111873 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Holiday Properties Ltd.

Holiday Properties Ltd. (Registered number: SC111873)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Holiday Properties Ltd.

Company Information
for the Year Ended 30 November 2024







DIRECTOR: A R France





SECRETARY: A R France





REGISTERED OFFICE: 3 The Square
Hartree
Tweeddale
Scottish Borders
ML12 6JJ





REGISTERED NUMBER: SC111873 (Scotland)





ACCOUNTANTS: Gibson McKerrell Burrows Limited
28 Rutland Square
Edinburgh
EH1 2BW

Holiday Properties Ltd. (Registered number: SC111873)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 153 204
Investment property 5 225,000 225,000
225,153 225,204

CURRENT ASSETS
Debtors 6 247,318 247,318
Cash at bank 6,398 32,207
253,716 279,525
CREDITORS
Amounts falling due within one year 7 95,902 120,696
NET CURRENT ASSETS 157,814 158,829
TOTAL ASSETS LESS CURRENT
LIABILITIES

382,967

384,033

PROVISIONS FOR LIABILITIES 28,619 28,619
NET ASSETS 354,348 355,414

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 150,232 150,232
Retained earnings 204,016 205,082
354,348 355,414

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 April 2025 and were signed by:





A R France - Director


Holiday Properties Ltd. (Registered number: SC111873)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Holiday Properties Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed 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.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Fixtures and Fittings - 15% reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Holiday Properties Ltd. (Registered number: SC111873)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 December 2023
and 30 November 2024 30,728
DEPRECIATION
At 1 December 2023 30,524
Charge for year 51
At 30 November 2024 30,575
NET BOOK VALUE
At 30 November 2024 153
At 30 November 2023 204

Holiday Properties Ltd. (Registered number: SC111873)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023
and 30 November 2024 225,000
NET BOOK VALUE
At 30 November 2024 225,000
At 30 November 2023 225,000

The properties were revalued by the director on 30 November 2022 on the basis of estimated open market value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Holiday Properties (England)
Limited 247,318 247,318
247,318 247,318

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Alan France Management Limited 31,112 54,406
Directors' current accounts 64,010 65,510
Accruals and deferred income 780 780
95,902 120,696

8. RESERVES
Revaluation
reserve
£   
At 1 December 2023
and 30 November 2024 150,232

9. RELATED PARTY DISCLOSURES

The company was under the control of Mr A France throughout the current and previous year. Mr France is the sole director and majority shareholder.

At 30 November 2024, the company was due £64,010 to Mr France (2023 - £65,510). This loan is interest free with no fixed terms for repayment. Included within this figure is a management charge payable to Mr France of £1,000 for administration (2023 - £1,000).

At 30 November 2024, the company was due £31,112 to Alan France Management Limited, a company controlled by Mr France (2022 - £54,406). This loan is interest free with no fixed terms for repayment. Included within this figure is a management charge payable to Alan France Management Limited of £1,000 for administration (2023 - £1,000).

At 30 November 2024, the company was due £247,318 from Holiday Properties (England) Limited, a company controlled by Mr France (2023 - £247,318). This loan is interest free with no fixed terms for repayment.