Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30false2023-10-01falseholiday properties33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09757819 2023-10-01 2024-09-30 09757819 2022-10-01 2023-09-30 09757819 2024-09-30 09757819 2023-09-30 09757819 c:Director1 2023-10-01 2024-09-30 09757819 c:Director2 2023-10-01 2024-09-30 09757819 c:Director3 2023-10-01 2024-09-30 09757819 c:RegisteredOffice 2023-10-01 2024-09-30 09757819 d:FreeholdInvestmentProperty 2024-09-30 09757819 d:FreeholdInvestmentProperty 2023-09-30 09757819 d:CurrentFinancialInstruments 2024-09-30 09757819 d:CurrentFinancialInstruments 2023-09-30 09757819 d:Non-currentFinancialInstruments 2024-09-30 09757819 d:Non-currentFinancialInstruments 2023-09-30 09757819 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 09757819 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 09757819 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 09757819 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 09757819 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-09-30 09757819 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-09-30 09757819 d:ShareCapital 2024-09-30 09757819 d:ShareCapital 2023-09-30 09757819 d:RetainedEarningsAccumulatedLosses 2024-09-30 09757819 d:RetainedEarningsAccumulatedLosses 2023-09-30 09757819 c:FRS102 2023-10-01 2024-09-30 09757819 c:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 09757819 c:FullAccounts 2023-10-01 2024-09-30 09757819 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09757819 2 2023-10-01 2024-09-30 09757819 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 09757819










WELCOME ESCAPES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
WELCOME ESCAPES LTD
 
 
COMPANY INFORMATION


Directors
Valerie Amy Woodhouse 
John William Woodhouse 
Kathleen Iona Woodhouse 




Registered number
09757819



Registered office
12 Church Street

Cromer

Norfolk

NR27 9ER




Accountants
MA Partners LLP
Chartered Accountants

12 Church Street

Cromer

Norfolk

NR27 9ER





 
WELCOME ESCAPES LTD
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 8


 
WELCOME ESCAPES LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WELCOME ESCAPES LTD
FOR THE YEAR ENDED 30 SEPTEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Welcome Escapes Ltd for the year ended 30 September 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Welcome Escapes Ltd, as a body, in accordance with the terms of our engagement letter dated July 2023Our work has been undertaken solely to prepare for your approval the financial statements of Welcome Escapes Ltd and state those matters that we have agreed to state to the Board of Directors of Welcome Escapes Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Welcome Escapes Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Welcome Escapes Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Welcome Escapes Ltd. You consider that Welcome Escapes Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Welcome Escapes Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
12 Church Street
Cromer
Norfolk
NR27 9ER
27 June 2025
Page 1

 
WELCOME ESCAPES LTD
REGISTERED NUMBER: 09757819

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
637,470
637,470

  
637,470
637,470

Current assets
  

Debtors: amounts falling due within one year
 5 
3,866
3,936

Cash at bank and in hand
 6 
234,549
266,958

  
238,415
270,894

Creditors: amounts falling due within one year
 7 
(55,495)
(35,730)

Net current assets
  
 
 
182,920
 
 
235,164

Total assets less current liabilities
  
820,390
872,634

Creditors: amounts falling due after more than one year
 8 
(500,000)
(500,000)

  

Net assets
  
320,390
372,634


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
320,290
372,534

  
320,390
372,634


Page 2

 
WELCOME ESCAPES LTD
REGISTERED NUMBER: 09757819
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Valerie Amy Woodhouse
................................................
John William Woodhouse
Director
Director


Date: 27 June 2025
Date:27 June 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
WELCOME ESCAPES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales.  The address of its registered office is 12 Church Street, Cromer, Norfolk, NR27 9ER.
The Company's principal activity is that of holiday rental accommodation.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services
Turnover is comprised of holiday rental accommodation from cottages in North Norfolk, Scotland and Spain.  It is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• The amount of turnover can be measured reliably;
• It is probable that the Company will receive the consideration due under the contract;
• The stage of completion of the contract at the end of the reporting period can be measured reliably; and
• The costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
WELCOME ESCAPES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
WELCOME ESCAPES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
637,470



At 30 September 2024
637,470

The 2024 valuations were made by the directors, on an open market value for existing use basis.





5.


Debtors

2024
2023
£
£


Prepayments and accrued income
3,866
3,936

3,866
3,936



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
234,549
266,958

234,549
266,958


Page 6

 
WELCOME ESCAPES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Payments received on account
12,776
7,970

Trade creditors
2,640
-

Corporation tax
-
11,861

Other taxation and social security
4,623
3,621

Other creditors
33,236
10,178

Accruals and deferred income
2,220
2,100

55,495
35,730



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
500,000
500,000

500,000
500,000



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Other loans
500,000
500,000

500,000
500,000

500,000
500,000



10.


Pension commitments

Page 7

 
WELCOME ESCAPES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Related party transactions

During the prior year, the company recevied a loan amounting to £500,000 from a company, some of who's directors are also the company directors of Welcome Escapes Ltd. The loan interest charged is 1.5%. At the balance sheet date, the loan was still outstanding and is presented within creditors: amounts falling due after more than one year.

 
Page 8