Company registration number 10017928 (England and Wales)
HIDEAWAYS HOLIDAYS GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
HIDEAWAYS HOLIDAYS GROUP LIMITED
COMPANY INFORMATION
Directors
Mr G D Baber
Mr J C Boyce
Mr R G Boyce
Mr A T Lambert
Company number
10017928
Registered office
HPB House
24-28 Old Station Road
Newmarket
CB8 8EH
Auditor
Ensors Accountants LLP
Saxon House
Moseley's Farm Business Centre
Fornham All Saints
Bury St Edmunds
IP28 6JY
Business address
HPB House
24-28 Old Station Road
Newmarket
CB8 8EH
HIDEAWAYS HOLIDAYS GROUP LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Group profit and loss account
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 29
HIDEAWAYS HOLIDAYS GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present the strategic report for the year ended 31 December 2024.

Review of the business

The Group’s principal trading activities during the year was that of a letting agent for holiday properties. The Company’s principal activity is to act as a holding company.

 

The Group principally operates from premises in Burnham Market, Truro, Dorchester, Stow-on-the-Wold and Wells-next-the-Sea, England.

 

The results for the year showing on page 8 reflect a profit before tax of £878,152 (2023 - 516,497). Turnover amounted to £7,420,768 (2023 - £6,853,727) for the year. As at 31 December 2024 the Group has net assets of £2,105,155 (2023 - £1,540,603 ).

 

The results reflect a strong year of trading with growth of the property portfolio.

Principal risks and uncertainties

The management of the business and the execution of the Group’s strategy are subject to a number of risks.

 

The key business risks affecting the Group are considered to relate to competition from national and independent holiday businesses, adverse changes in the pattern of discretionary consumer spending, additional competition from web-based travel opportunities, increased regulatory burden and difficulties in finding new and suitable holiday lets.

 

These risks are monitored by the Directors, however, due to their nature, they are largely outside of the Group’s control. Those risks that are within the Directors’ control are actively reviewed and acted upon by the Directors throughout the year.

 

The Directors also strive to maintain a high level of client service satisfaction as property owner and client loyalty are a key element in developing the business.

 

Financial risk management

 

The Group aims to minimise financial risk. The measures used by the Directors to manage this risk include the preparation of profit and cash flow forecasts and regular monitoring of actual performance against these forecasts.

 

The Group uses various financial instruments which include bank balances and various items such as trade debtors and trade creditors that arise directly from its operations.

 

The main risks arising from the Group’s financial instruments are liquidity risk and credit risk.

 

Liquidity risk

The Group seeks to manage its financial risk by ensuring it maintains sufficient liquidity available to meet future needs and short-term flexibility.

 

Credit risk

The Group’s principal financial assets are cash and trade debtors. Risks associated with cash are limited as the bank has high credit rating assigned by international credit rating agencies. Risks associated with trade debtors are spread across a large number of customers with small balances owing to the company. There is a history of good debtor recoverability across the Group.

Development and performance

The directors are confident that the Group’s underlying profitability will be maintained for the foreseeable future.

HIDEAWAYS HOLIDAYS GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Key performance indicators

The financial progress of the Group is monitored using the following KPIs:

 

 

Group

Company

 

2024

2023

2024

2023

 

 

 

 

 

Turnover (£)

7,420,768

6,853,727

-

-

Gross profit (£)

5,143,438

4,853,171

-

-

Cash at bank (£)

4,658,440

4,416,948

-

-

Net assets (£)

2,105,155

1,540,603

1,920,203

920,203

 

               

               

               

               

On behalf of the board

Mr G D Baber
Director
23 June 2025
HIDEAWAYS HOLIDAYS GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the group continued to be that of a letting agent for holiday properties, with the parent company being an intermediate holding company.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr G D Baber
Mr J C Boyce
Mr R G Boyce
Mr A T Lambert
Strategic report

The truegroup has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of principle risks and uncertainties and future developments.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr G D Baber
Director
23 June 2025
HIDEAWAYS HOLIDAYS GROUP LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

HIDEAWAYS HOLIDAYS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF HIDEAWAYS HOLIDAYS GROUP LIMITED
- 5 -
Opinion

We have audited the financial statements of Hideaways Holidays Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the group profit and loss account, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

HIDEAWAYS HOLIDAYS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HIDEAWAYS HOLIDAYS GROUP LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our audit was designed to include tests of detail together with an assessment of the control environment to enable us to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement due to fraud. This included work on areas where we consider there is a higher risk of fraud including revenue recognition, management override of systems and control, transactions with related parties, commitments and contingencies and accounting estimates.

 

We also obtained an understanding of the legal and regulatory framework that the company operates in, through discussions with the directors and other management, and from our own knowledge and experience of the sector.

HIDEAWAYS HOLIDAYS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HIDEAWAYS HOLIDAYS GROUP LIMITED
- 7 -

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

 

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Malcolm McGready (Senior Statutory Auditor)
For and on behalf of Ensors Accountants LLP, Statutory Auditor
Chartered Accountants
Saxon House
Moseley's Farm Business Centre
Fornham All Saints
Bury St Edmunds
IP28 6JY
24 June 2025
HIDEAWAYS HOLIDAYS GROUP LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
7,420,768
6,853,727
Cost of sales
(2,277,330)
(2,000,556)
Gross profit
5,143,438
4,853,171
Administrative expenses
(4,572,926)
(4,591,824)
Other operating income
17,408
9,523
Operating profit
4
587,920
270,870
Interest receivable and similar income
7
294,919
254,871
Interest payable and similar expenses
8
(4,687)
(9,244)
Profit before taxation
878,152
516,497
Tax on profit
9
(313,600)
(206,774)
Profit for the financial year
21
564,552
309,723
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
HIDEAWAYS HOLIDAYS GROUP LIMITED
GROUP BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
10
990,344
1,338,751
Tangible assets
11
320,419
350,353
Investments
12
5,000
5,000
1,315,763
1,694,104
Current assets
Debtors
15
556,127
495,725
Cash at bank and in hand
4,658,440
4,416,948
5,214,567
4,912,673
Creditors: amounts falling due within one year
16
(4,397,027)
(5,032,839)
Net current assets/(liabilities)
817,540
(120,166)
Total assets less current liabilities
2,133,303
1,573,938
Provisions for liabilities
Deferred tax liability
18
28,148
33,335
(28,148)
(33,335)
Net assets
2,105,155
1,540,603
Capital and reserves
Called up share capital
20
203
203
Profit and loss reserves
21
2,104,952
1,540,400
Total equity
2,105,155
1,540,603

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 23 June 2025 and are signed on its behalf by:
23 June 2025
Mr G D Baber
Director
Company registration number 10017928 (England and Wales)
HIDEAWAYS HOLIDAYS GROUP LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
12
2,415,334
2,415,334
2,415,334
2,415,334
Creditors: amounts falling due within one year
16
(495,131)
(1,495,131)
Net current liabilities
(495,131)
(1,495,131)
Net assets
1,920,203
920,203
Capital and reserves
Called up share capital
20
203
203
Profit and loss reserves
21
1,920,000
920,000
Total equity
1,920,203
920,203

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £1,000,000 (2023 - £920,000 profit).

These financial statements have been prepared 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 23 June 2025 and are signed on its behalf by:
23 June 2025
Mr G D Baber
Director
Company registration number 10017928 (England and Wales)
HIDEAWAYS HOLIDAYS GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
203
1,230,677
1,230,880
Year ended 31 December 2023:
Profit and total comprehensive income
-
309,723
309,723
Balance at 31 December 2023
203
1,540,400
1,540,603
Year ended 31 December 2024:
Profit and total comprehensive income
-
564,552
564,552
Balance at 31 December 2024
203
2,104,952
2,105,155
HIDEAWAYS HOLIDAYS GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
203
-
0
203
Year ended 31 December 2023:
Profit and total comprehensive income
-
920,000
920,000
Balance at 31 December 2023
203
920,000
920,203
Year ended 31 December 2024:
Profit and total comprehensive income
-
1,000,000
1,000,000
Balance at 31 December 2024
203
1,920,000
1,920,203
HIDEAWAYS HOLIDAYS GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
324,302
444,203
Interest paid
(4,687)
(9,244)
Income taxes paid
(270,237)
(232,614)
Net cash inflow from operating activities
49,378
202,345
Investing activities
Purchase of tangible fixed assets
(57,470)
(79,131)
Proceeds from disposal of tangible fixed assets
12,250
10,092
Interest received
294,919
254,871
Net cash generated from investing activities
249,699
185,832
Net increase in cash and cash equivalents
299,077
388,177
Cash and cash equivalents at beginning of year
4,029,194
3,641,017
Cash and cash equivalents at end of year
4,328,271
4,029,194
Relating to:
Cash at bank and in hand
4,658,440
4,416,948
Bank overdrafts included in creditors payable within one year
(330,169)
(387,754)
HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
1
Accounting policies
Company information

Hideaways Holidays Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is HPB House, 24-28 Old Station Road, Newmarket, CB8 8EH.

 

The group consists of Hideaways Holidays Group Limited and all of its subsidiaries.

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.

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. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

 

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 15 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Hideaways Holidays Group Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

1.4
Going concern

The going concern basis of accounting is considered to be appropriate for the group as there are no material uncertainties in existence. The group has performed financial modelling for the period to 31 December 2024 and no issues were identified that would give rise to a going concern risk. As explained in Note 22 the group is part of an omnibus bank arrangement and given the current economic uncertainty the ultimate parent company, Quality Holidays Assured Limited, has provided a letter of support for the period covering at least 12 months from the date of approval of the financial statements. The directors have evaluated the ability of Quality Holidays Assured Limited to provide this support in the context of the group structure and activities of fellow subsidiaries and have not identified any material uncertainties in this regard. Accordingly, the financial statements have been prepared on a going concern basis.

1.5
Turnover

Turnover represents rental commissions and services receivable, excluding value added tax. Where the group subsidiaries act as agents, turnover includes only the commission element of the rental arrangements. They recognises commission in the profit and loss account at the point of booking when the deposit is received as that is the provision of the service being the trigger point for recognition. In some cases, where the group subsidiaries also provides additional services to the independent property owners (e.g. property management) the revenue attributed to these services are recognised when the services are provided.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of cost of acquisition over the fair value of the separable net assets of

businesses acquired. Goodwill is amortised through the profit and loss account in equal annual instalments

over its estimated useful economic life up to 10 years as prescribed by FRS 102 accounting standards.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.

HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 16 -

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over term of lease
Fixtures and fittings
4 years straight line / 15% reducing balance
Computers
4 years straight line / 15% reducing balance
Motor vehicles
4 years straight line / 25% reducing balance

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 recognised in the profit and loss account.

1.8
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 17 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
Financial instruments

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 18 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 19 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
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 profit and loss account 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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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 profit and loss account, 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 if, and only if, there is 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.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Impairment of Goodwill

The group reviews the carrying value of goodwill annually to assess whether any impairment is required. This assessment involves estimating the future cash flows expected to arise from the cash-generating unit to which the goodwill relates and applying an appropriate discount rate to calculate the present value of those cash flows.

 

Management has exercised significant judgement in determining the assumptions used in the impairment review. These estimates are inherently uncertain and could materially change in future periods depending on changes in market conditions or the company’s performance.

 

No impairment has been recognised in the current year, and management considers the carrying value of goodwill to be supportable based on the projected future cash flows.

3
Turnover

All turnover in the year and prior year was derived from rental commissions and services £7,420,768 (2023: £6,853,727).

All turnover originates in the United Kingdom.

4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
71,769
77,659
Loss/(profit) on disposal of tangible fixed assets
3,385
(3,214)
Amortisation of intangible assets
348,407
348,407
Operating lease charges
182,008
174,523
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
24,145
22,350
HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 21 -
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
66
67
4
4

Their aggregate remuneration comprised:

Group
Company
as restated
2024
2023
2024
2023
£
£
£
£
Wages and salaries
1,850,756
1,779,098
-
0
-
0
Social security costs
153,460
165,961
-
-
Pension costs
37,878
40,770
-
0
-
0
2,042,094
1,985,829
-
0
-
0
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
294,919
254,871
8
Interest payable and similar expenses
2024
2023
£
£
Other interest
4,687
9,244
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
320,333
206,422
Adjustments in respect of prior periods
(1,546)
(153)
Total current tax
318,787
206,269
HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Taxation
2024
2023
£
£
(Continued)
- 22 -
Deferred tax
Origination and reversal of timing differences
(5,187)
345
Adjustment in respect of prior periods
-
0
160
Total deferred tax
(5,187)
505
Total tax charge
313,600
206,774

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
878,152
516,497
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.52%)
219,538
121,480
Tax effect of expenses that are not deductible in determining taxable profit
3,483
426
Depreciation on assets not qualifying for tax allowances
3,380
2,950
Amortisation on assets not qualifying for tax allowances
87,102
81,891
Under/(over) provided in prior years
97
6
Remeasurement of deferred tax for changes in tax rates
-
0
21
Taxation charge
313,600
206,774
10
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
3,106,184
Amortisation and impairment
At 1 January 2024
1,767,433
Amortisation charged for the year
348,407
At 31 December 2024
2,115,840
Carrying amount
At 31 December 2024
990,344
At 31 December 2023
1,338,751
HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10
Intangible fixed assets
(Continued)
- 23 -
The company had no intangible fixed assets at 31 December 2024 or 31 December 2023.
11
Tangible fixed assets
Group
Leasehold improvements
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
229,161
176,664
129,945
202,026
737,796
Additions
12,720
8,438
7,322
28,990
57,470
Disposals
(12,747)
(1,772)
(1,562)
(31,590)
(47,671)
At 31 December 2024
229,134
183,330
135,705
199,426
747,595
Depreciation and impairment
At 1 January 2024
87,606
116,596
82,613
100,628
387,443
Depreciation charged in the year
23,297
11,848
11,055
25,569
71,769
Eliminated in respect of disposals
(11,389)
(1,586)
(1,272)
(17,789)
(32,036)
At 31 December 2024
99,514
126,858
92,396
108,408
427,176
Carrying amount
At 31 December 2024
129,620
56,472
43,309
91,018
320,419
At 31 December 2023
141,555
60,068
47,332
101,398
350,353
The company had no tangible fixed assets at 31 December 2024 or 31 December 2023.
12
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
2,415,334
2,415,334
Unlisted investments
5,000
5,000
-
0
-
0
5,000
5,000
2,415,334
2,415,334
HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12
Fixed asset investments
(Continued)
- 24 -
Movements in fixed asset investments
Group
Investments
£
Cost or valuation
At 1 January 2024 and 31 December 2024
5,000
Carrying amount
At 31 December 2024
5,000
At 31 December 2023
5,000
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024 and 31 December 2024
2,415,334
Carrying amount
At 31 December 2024
2,415,334
At 31 December 2023
2,415,334
HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 25 -
13
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Norfolk Hideaways Limited
Big Blue Sky Building, Warham Road, Wells Next The Sea, Norfolk, NR23 1QA
Letting of holiday property
Ordinary £1 Shares
100.00
Cornwall Hideaways Limited
HPB House, Old Station Road, Newmarket, Suffolk, England, CB8 8EH
Letting of holiday property
Ordinary £1 Shares
100.00
Cotswolds Hideaways Limited
Retreat House Draycott Business Park, Draycott, Moreton-In-Marsh
Letting of holiday property
Ordinary £1 Shares
100.00
Suffolk Hideaways Limited
HPB House, Old Station Road, Newmarket, Suffolk, England, CB8 8EH
Dormant
Ordinary £1 Shares
100.00
Jigsaw Holidays Limited
Retreat House Draycott Business Park, Draycott, Moreton-In-Marsh, Gloucestire, England, GL59 9JY
Dormant
Ordinary £1 Shares
100.00
Glamping Holidays Limited
HPB House, Old Station Road, Newmarket, Suffolk, England, GL59 9JY
Dormant
Ordinary £1 Shares
100.00
Dorset Hideaways Limited
Retreat House Draycott Business Park, Draycott, Moreton-In-Marsh, Gloucestire, England, GL56 9JY
Dormant
Ordinary £1 Shares
100.00
Harbour Holidays (Rock) Limited
HPB House, Old Station Road, Newmarket, Suffolk, England, CB8 8EH
Dormant
Ordinary £1 Shares
100.00
Isle of Wight Hideaways Limited
Retreat House Draycott Business Park, Draycott, Moreton-In-Marsh, Gloucestire, England, GL59 9JY
Dormant
Ordinary £1 Shares
100.00
Stately Holiday Cottages Limited
HPB House, Old Station Road, Newmarket, Suffolk, England, CB8 8EH
Dormant
Ordinary £1 Shares
100.00
Yorkshire Hideaways Limited
HPB House, Old Station Road, Newmarket, Suffolk, England, CB8 8EH
Dormant
Ordinary £1 Shares
100.00
Devon Hideaways Limited
HPB House, Old Station Road, Newmarket, Suffolk, England, CB8 8EH
Dormant
Ordinary £1 Shares
100.00
Somerset Hideaways Limited
HPB House, Old Station Road, Newmarket, Suffolk, England, CB8 8EH
Dormant
Ordinary £1 Shares
100.00
14
Financial instruments
Group
Company
2024
2023
2024
2023
£
£
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
419,312
387,154
-
-
Equity instruments measured at cost less impairment
5,000
5,000
-
-
Carrying amount of financial liabilities
Measured at amortised cost
4,052,505
4,744,930
-
-
HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 26 -
15
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
96,433
137,093
-
0
-
0
Amounts owed by group undertakings
89,106
55,351
-
-
Other debtors
17,576
3,627
-
0
-
0
Prepayments and accrued income
353,012
299,654
-
0
-
0
556,127
495,725
-
-
16
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
17
330,169
387,754
-
0
-
0
Trade creditors
128,367
128,244
-
0
-
0
Amounts owed to group undertakings
1,559,936
2,398,982
495,131
1,495,131
Corporation tax payable
50,495
1,945
-
0
-
0
Other taxation and social security
294,027
285,964
-
0
-
0
Other creditors
1,893,312
1,700,316
-
0
-
0
Accruals and deferred income
140,721
129,634
-
0
-
0
4,397,027
5,032,839
495,131
1,495,131
17
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank overdrafts
330,169
387,754
-
0
-
0
Payable within one year
330,169
387,754
-
0
-
0

The bank overdrafts are secured.

The group have a sterling overdraft facilities of up to £1,650,000, repayable on demand but subject to periodic review on the usual banking terms and to any intervening governmental restrictions or measures.

 

HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 27 -
18
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
28,148
33,335
The company has no deferred tax assets or liabilities.
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 January 2024
33,335
-
Credit to profit or loss
(5,187)
-
Liability at 31 December 2024
28,148
-

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

19
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
37,878
40,770

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

20
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
203
203
203
203
21
Reserves
Profit and loss reserves

The profit and loss account includes all current and prior period retained profits and losses.

HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 28 -
22
Financial commitments, guarantees and contingent liabilities

A deed of accession was made on 5 June 2020 supplemental to an omnibus guarantee and set-off arrangement registered on 25 September 2014 in favour of Lloyds Bank plc (the bank), encompassing the company, its ultimate parent company Quality Holidays Assured Limited and fellow subsidiary companies, Conker Interiors Limited, HPB Holdings Limited, HPB Loans Limited, HPB Tenancies Limited, Lantern & Larks Limited, Newmarketing Campaign Limited, Rural Retreats Holidays Limited, Signature Holidays Limited, Cotswolds Hideaways Limited, Cornwall Hideaways Limited, Norfolk Hideaways Limited and Hideaways Holidays Group Limited.

 

Each company guarantees payment of liabilities due to the bank by any or all of these companies. The arrangement also permits the bank to combine or consolidate all or any of the companies’ accounts held with the bank with all or any of the companies’ liabilities due to the bank and to set-off or transfer any credit balance held, in or towards satisfaction of any such liabilities. At 31 December 2024 total liabilities due to the bank by the companies were £1,241,537 (2023: £1,229,949).

23
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2024
2023
2024
2023
£
£
£
£
Within one year
159,078
156,990
-
-
Between two and five years
405,542
264,371
-
-
In over five years
5,000
31,249
-
-
569,620
452,610
-
-
24
Events after the reporting date

On 14 January 2025, the group acquired Self Cater Cornwall Holidays Limited, a company registered in England and Wales, by purchasing its entire issued Ordinary Share Capital.

 

On 28 February 2025, the group acquired West Country Beach Holidays, an unincorporated business.

HIDEAWAYS HOLIDAYS GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 29 -
25
Cash generated from group operations
2024
2023
£
£
Profit for the year after tax
564,552
309,723
Adjustments for:
Taxation charged
313,600
206,774
Interest payable
4,687
9,244
Interest receivable
(294,919)
(254,871)
Loss/(gain) on disposal of tangible fixed assets
3,385
(3,214)
Amortisation and impairment of intangible assets
348,407
348,407
Depreciation and impairment of tangible fixed assets
71,769
77,659
Movements in working capital:
Increase in debtors
(60,402)
(34,288)
Decrease in creditors
(626,777)
(215,231)
Cash generated from operations
324,302
444,203
26
Analysis of changes in net funds - group
1 January 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
4,416,948
241,492
4,658,440
Bank overdrafts
(387,754)
57,585
(330,169)
4,029,194
299,077
4,328,271
2024-12-312024-01-01falsefalseCCH SoftwareCCH Accounts Production 2025.100Mr G D BaberMr J C BoyceMr R G BoyceMr A T 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