REGISTERED NUMBER: 03623642 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Breamish Valley Cottages Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A P Moralee

A P Moralee

SECRETARY:

A P Moralee

REGISTERED OFFICE:

Branton West Side

Powburn

Alnwick

Northumberland

NE66 4LW

REGISTERED NUMBER:

03623642 (England and Wales)

ACCOUNTANTS:

EQ Accountants Ltd

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

FIXED ASSETS

Tangible assets

4

2,177,945

2,204,477

CURRENT ASSETS

Stocks

7,750

16,500

Debtors

5

538,082

24,419

Cash at bank

26,962

209,641

572,794

250,560

CREDITORS

Amounts falling due within one year

6

306,282

282,204

NET CURRENT ASSETS/(LIABILITIES)

266,512

(31,644

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,444,457

2,172,833

CREDITORS

Amounts falling due after more than one year

7

(1,180,927

)

(906,290

)

PROVISIONS FOR LIABILITIES

(120,000

)

(120,000

)

NET ASSETS

1,143,530

1,146,543

CAPITAL AND RESERVES

Called up share capital

1,010

1,010

Share premium

395,726

395,726

Revaluation reserve

8

605,661

605,661

Retained earnings

141,133

144,146

SHAREHOLDERS' FUNDS

1,143,530

1,146,543

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

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

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

A P Moralee - Director

1.	STATUTORY INFORMATION

Breamish Valley Cottages Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

The directors consider that the residual value of the freehold property is the same as the fair value that has been stated in the accounts and therefore the freehold property has not been depreciated in the current year.

Stocks

Timeshare stock comprises property costs less amounts transferred to cost of sales.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

Land

machinery

£

£

£

COST

At 1 January 2024

and 31 December 2024

2,037,396

59,000

96,865

DEPRECIATION

At 1 January 2024

-

-

64,841

Charge for year

-

-

7,379

At 31 December 2024

-

-

72,220

NET BOOK VALUE

At 31 December 2024

2,037,396

59,000

24,645

At 31 December 2023

2,037,396

59,000

32,024

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

312,456

29,986

10,025

2,545,728

DEPRECIATION

At 1 January 2024

248,908

19,185

8,317

341,251

Charge for year

15,001

2,700

1,452

26,532

At 31 December 2024

263,909

21,885

9,769

367,783

NET BOOK VALUE

At 31 December 2024

48,547

8,101

256

2,177,945

At 31 December 2023

63,548

10,801

1,708

2,204,477

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

21,686

23,921

Other debtors

469,811

-

Corporation Tax

-

498

VAT

46,585

-

538,082

24,419

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans and overdrafts

39,600

27,598

Other loans

16,513

26,612

Hire purchase contracts

2,870

5,740

Tax

16,179

12,257

Social security and other taxes

4,172

3,067

VAT

-

12,945

Directors' loan accounts

158,658

114,151

Deferred income

52,052

56,622

Accrued expenses

16,238

23,212

306,282

282,204

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans - 1-2 years

79,200

28,978

Bank loans - 2-5 years

118,800

95,916

Bank loans more 5 yr by instal

982,927

778,526

Hire purchase contracts

-

2,870

1,180,927

906,290

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

982,927

778,526

8.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

605,661