Company registration number 00222843 (England and Wales)
SWAN HOLIDAYS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
SWAN HOLIDAYS LTD
COMPANY INFORMATION
Director
Mr A Roberts
Company number
00222843
Registered office
Welcome Family Holiday Park
Warren Road
Dawlish Warren
Dawlish
Devon
England
EX7 0PH
Accountants
Streets Bush Limited
2 Barnfield Crescent
Exeter
EX1 1QT
SWAN HOLIDAYS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SWAN HOLIDAYS LTD
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,772,587
2,676,188
Current assets
Stocks
8,021
10,005
Debtors
4
171,278
566,819
Cash at bank and in hand
1,166,891
1,289,818
1,346,190
1,866,642
Creditors: amounts falling due within one year
5
(2,039,832)
(1,258,510)
Net current (liabilities)/assets
(693,642)
608,132
Total assets less current liabilities
2,078,945
3,284,320
Creditors: amounts falling due after more than one year
6
(933,487)
Provisions for liabilities
(308,184)
(365,547)
Net assets
1,770,761
1,985,286
Capital and reserves
Called up share capital
10,000
10,000
Retained earnings
1,760,761
1,975,286
Total equity
1,770,761
1,985,286
SWAN HOLIDAYS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 2 -
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 June 2025 and are signed on its behalf by:
Mr A Roberts
Director
Company Registration No. 00222843
SWAN HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information
Swan Holidays Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Welcome Family Holiday Park, Warren Road, Dawlish Warren, Dawlish, Devon, England, EX7 0PH.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net invoiced accommodation and rental fees and related on-site goods and
services relating to the accounting period, excluding value added tax. Income received on the sale of a caravan relating to the period of the license agreement is deferred over the period of the agreement.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
4% on cost and 2 % on cost
Caravans
Stright line over 12 or 30 years
Fixtures and fittings
20% on reducing balance
Motor vehicles
20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
SWAN HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
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.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
SWAN HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
87
94
SWAN HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2024
2,321,052
4,876,877
7,197,929
Additions
423,636
423,636
Disposals
(76,018)
(76,018)
At 31 January 2025
2,321,052
5,224,495
7,545,547
Depreciation and impairment
At 1 February 2024
1,384,878
3,136,863
4,521,741
Depreciation charged in the year
39,527
287,710
327,237
Eliminated in respect of disposals
(76,018)
(76,018)
At 31 January 2025
1,424,405
3,348,555
4,772,960
Carrying amount
At 31 January 2025
896,647
1,875,940
2,772,587
At 31 January 2024
936,174
1,740,014
2,676,188
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges,are included in creditors.
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
30,077
21,309
Other debtors
141,201
545,510
171,278
566,819
SWAN HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
45,227
88,714
Taxation and social security
46,822
270,445
Other creditors
1,947,783
899,351
2,039,832
1,258,510
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
933,487
Other loans represent monies loaned to the company by the estate of the late Mrs J Roberts. There is no interest rate set and the term of the loan is 5 years.
Creditors which fall due after five years are as follows:
2025
2024
£
£
Payable by instalments
-
933,487
7
Directors' transactions
At the year end, the director owed the company £4,112 (2024: £4,404). No interest has been charged on this balance, and no repayment terms have been set. This balance was repaid within 9 months of the year end.