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Registration number: 12099176

West Wales Holiday Cottages Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

West Wales Holiday Cottages Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

West Wales Holiday Cottages Ltd

Company Information

Directors

Mr David John Witt

Mr Matthew James Witt

Mrs Lisa Wyn Stopher

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

West Wales Holiday Cottages Ltd

(Registration number: 12099176)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

166,327

147,267

Current assets

 

Debtors

6

43,146

62,502

Cash at bank and in hand

 

152,590

121,974

 

195,736

184,476

Creditors: Amounts falling due within one year

7

(149,451)

(59,676)

Net current assets

 

46,285

124,800

Total assets less current liabilities

 

212,612

272,067

Creditors: Amounts falling due after more than one year

7

(33,263)

-

Net assets

 

179,349

272,067

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

179,249

271,967

Total equity

 

179,349

272,067

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

West Wales Holiday Cottages Ltd

(Registration number: 12099176)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 17 June 2025 and signed on its behalf by:
 

.........................................
Mrs Lisa Wyn Stopher
Director

   
     
 

West Wales Holiday Cottages Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the Board on 17 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

West Wales Holiday Cottages Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance

Office equipment

25% Reducing balance

Furniture and fittings

25% Reducing balance

Leasehold Property

4% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

West Wales Holiday Cottages Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 10).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

43,602

24,715

 

West Wales Holiday Cottages Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

30,996

14,492

148,367

13,538

207,393

Additions

-

-

62,661

-

62,661

At 31 December 2024

30,996

14,492

211,028

13,538

270,054

Depreciation

At 1 January 2024

4,398

9,510

35,447

10,770

60,125

Charge for the year

1,100

1,245

40,581

676

43,602

At 31 December 2024

5,498

10,755

76,028

11,446

103,727

Carrying amount

At 31 December 2024

25,498

3,737

135,000

2,092

166,327

At 31 December 2023

26,597

4,981

112,921

2,768

147,267

Included within the net book value of land and buildings above is £25,498 (2023 - £26,597) in respect of short leasehold land and buildings.
 

6

Debtors

2024
£

2023
£

Trade debtors

5,250

7,292

Prepayments

4,040

3,908

Other debtors

33,856

51,302

43,146

62,502

 

West Wales Holiday Cottages Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

10,000

-

Trade creditors

 

-

(11)

Taxation and social security

 

17,300

4,653

Directors' loan accounts

10

39,927

19,927

Other creditors

 

82,224

35,107

 

149,451

59,676

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

33,263

-

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A Ordinary Shares of £1 each

55

55

55

55

B Ordinary Shares of £1 each

15

15

15

15

C Ordinary Shares of £1 each

15

15

15

15

D Ordinary Shares of £1 each

15

15

15

15

 

100

100

100

100

 

West Wales Holiday Cottages Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

33,263

-

2024
£

2023
£

Current loans and borrowings

Other borrowings

10,000

-

10

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Repayments by director
£

At 31 December 2024
£

Mr David John Witt

Interest free loan with no fixed repayment date

585

(10,000)

(9,415)

       
     

Mr Matthew James Witt

Interest free loan with no fixed repayment date

(20,512)

(10,000)

(30,512)

       
     

 

2023

At 1 January 2023
£

At 31 December 2023
£

Mr David John Witt

Interest free loan with no fixed repayment date

585

585

     
   

Mr Matthew James Witt

Interest free loan with no fixed repayment date

(20,512)

(20,512)