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REGISTERED NUMBER: 12794767 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

PERPETUAL HOLIDAYS LIMITED

PERPETUAL HOLIDAYS LIMITED (REGISTERED NUMBER: 12794767)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PERPETUAL HOLIDAYS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: J B Turner
Ms L Wooder
D E A Rees-Jones





REGISTERED OFFICE: C/O Galloways Accounting
The Mill Building
31-35 Chatsworth Road
Worthing
West Sussex
BN11 1LY





REGISTERED NUMBER: 12794767 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
15 West Street
Brighton
East Sussex
BN1 2RL

PERPETUAL HOLIDAYS LIMITED (REGISTERED NUMBER: 12794767)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 3 9,016 12,020
Investment property 4 980,000 980,000
989,016 992,020

CURRENT ASSETS
Debtors 5 3,173 1,780
Cash at bank 13,735 25,335
16,908 27,115
CREDITORS
Amounts falling due within one year 6 297,710 302,312
NET CURRENT LIABILITIES (280,802 ) (275,197 )
TOTAL ASSETS LESS CURRENT LIABILITIES 708,214 716,823

CREDITORS
Amounts falling due after more than one year 7 (599,980 ) (599,980 )

PROVISIONS FOR LIABILITIES (26,745 ) (29,450 )
NET ASSETS 81,489 87,393

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 73,473 -
Retained earnings 7,916 87,293
81,489 87,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:




Ms L Wooder - Director D E A Rees-Jones - Director




J B Turner - Director


PERPETUAL HOLIDAYS LIMITED (REGISTERED NUMBER: 12794767)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. 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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover represents gross sales of services. Turnover is recognised at the point the customer is entitled to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Going concern
The directors acknowledge the net current liabilities position, having reviewed the twelve months ahead they will going to support the company so the company may meet its financial obligations as they fall due.

2. EMPLOYEES AND DIRECTORS

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

PERPETUAL HOLIDAYS LIMITED (REGISTERED NUMBER: 12794767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


3. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 26,226 122 26,348
DEPRECIATION
At 1 September 2023 14,206 122 14,328
Charge for year 3,004 - 3,004
At 31 August 2024 17,210 122 17,332
NET BOOK VALUE
At 31 August 2024 9,016 - 9,016
At 31 August 2023 12,020 - 12,020

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 980,000
NET BOOK VALUE
At 31 August 2024 980,000
At 31 August 2023 980,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2022 (57,036 )
Valuation in 2023 155,000
Cost 882,036
980,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 882,036 882,036

Investment property was valued on an open market basis on 31 August 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,104 -
Prepayments 69 1,780
3,173 1,780

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors - 180
Directors' loan accounts 296,929 295,993
Accruals and deferred income 781 6,139
297,710 302,312

PERPETUAL HOLIDAYS LIMITED (REGISTERED NUMBER: 12794767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans more 5 yr by instal 599,980 599,980

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 599,980 599,980

8. RESERVES
Fair
value
reserve
£   
Revaluation in year 97,964
Deferred tax (24,491 )

At 31 August 2024 73,473

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, D A Rees Jones increased his loan to the company. As at 31 August 2024, the company owed him £98,806 (2023: £98,495). This balance represented the maximum amount outstanding during the period and the loan is interest free and repayable on demand.

During the year, J B Turner increased his loan to the company. As at 31 August 2024, the company owed him £102,871 (2023: £102,559). This balance represented the maximum amount outstanding during the period and the loan is interest free and repayable on demand.

During the year, Ms L Wooder Turner increased her loan to the company. As at 31 August 2024, the company owed her £95,251 (2023: £94,939). This balance represented the maximum amount outstanding during the period and the loan is interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The controlling party and the ultimate controlling party are not known.

As there is no majority shareholder the company is controlled by the Board.