Company registration number 04403028 (England and Wales)
SWEETCOMBE COTTAGE HOLIDAYS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
SWEETCOMBE COTTAGE HOLIDAYS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
SWEETCOMBE COTTAGE HOLIDAYS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
4,564
7,172
Tangible assets
4
45,227
55,348
Investments
5
2,184,816
2,081,862
2,234,607
2,144,382
Current assets
Stocks
100
100
Debtors
6
97,244
141,278
Cash at bank and in hand
1,333,559
1,156,932
1,430,903
1,298,310
Creditors: amounts falling due within one year
7
(904,494)
(778,742)
Net current assets
526,409
519,568
Total assets less current liabilities
2,761,016
2,663,950
Provisions for liabilities
8
(119,324)
(99,178)
Net assets
2,641,692
2,564,772
Capital and reserves
Called up share capital
100
100
Non-distributable profits reserve
9
374,253
245,821
Distributable profit and loss reserves
2,267,339
2,318,851
Total equity
2,641,692
2,564,772

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he 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.

SWEETCOMBE COTTAGE HOLIDAYS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 November 2025 and are signed on its behalf by:
Mrs T J Gater
Mrs P Cochrane
Director
Director
Company registration number 04403028 (England and Wales)
SWEETCOMBE COTTAGE HOLIDAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Sweetcombe Cottage Holidays Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 10, Alexandria Industrial Estate, Sidmouth, Devon, EX10 9HL.

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 a mounts 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 has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT. Agency commission and booking fees, in respect of holidaymaker letting of properties, are recognised when the entitlement to the income becomes unconditional, typically once the letting period has commenced.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

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 land and buildings
10% per annum on cost
Plant and equipment
25% per annum on net book value
Fixtures and fittings
25% per annum on net book value
Motor vehicles
25% per annum on net book value

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.

1.4
Fixed asset investments

Interests in subsidiaries are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. The securities in the investment portfolio have been revalued to their fair value using market information provided by the asset fund manager.

Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

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

SWEETCOMBE COTTAGE HOLIDAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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 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 company’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.

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.

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
10
11
SWEETCOMBE COTTAGE HOLIDAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Intangible fixed assets
Goodwill
Website
Total
£
£
£
Cost
At 1 April 2024 and 31 March 2025
22,322
10,432
32,754
Amortisation and impairment
At 1 April 2024
22,322
3,260
25,582
Amortisation charged for the year
-
0
2,608
2,608
At 31 March 2025
22,322
5,868
28,190
Carrying amount
At 31 March 2025
-
0
4,564
4,564
At 31 March 2024
-
0
7,172
7,172
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
33,110
159,966
193,076
Additions
-
0
4,608
4,608
Disposals
-
0
(2,599)
(2,599)
At 31 March 2025
33,110
161,975
195,085
Depreciation and impairment
At 1 April 2024
19,866
117,862
137,728
Depreciation charged in the year
3,303
11,426
14,729
Eliminated in respect of disposals
-
0
(2,599)
(2,599)
At 31 March 2025
23,169
126,689
149,858
Carrying amount
At 31 March 2025
9,941
35,286
45,227
At 31 March 2024
13,244
42,104
55,348
5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
1,773,111
1,677,761
Other investments other than loans
411,705
404,101
2,184,816
2,081,862
SWEETCOMBE COTTAGE HOLIDAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Fixed asset investments
(Continued)
- 6 -
Fixed asset investments revalued

The securities in the investment portfolio have been revalued to their fair value using market information provided by the asset fund manager. The investment in the subsidiary has been revalued using a valuation as at 31 March 2025, provided by an independent third party. The cost values at 31 March 2025 were £1,685,812 (2024: £1,675,400).

Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 April 2024
1,677,761
404,101
2,081,862
Additions
-
54,986
54,986
Valuation changes
95,350
5,078
100,428
Disposals
-
(52,460)
(52,460)
At 31 March 2025
1,773,111
411,705
2,184,816
Carrying amount
At 31 March 2025
1,773,111
411,705
2,184,816
At 31 March 2024
1,677,761
404,101
2,081,862
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
97,244
141,278
7
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
54,775
79,419
Other creditors
849,719
699,323
904,494
778,742
SWEETCOMBE COTTAGE HOLIDAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
8
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
(5,427)
(4,632)
Investments
124,751
103,810
119,324
99,178
2025
Movements in the year:
£
Liability at 1 April 2024
99,178
Charge to profit or loss
20,146
Liability at 31 March 2025
119,324

The deferred tax liability set out above relates to fair value movements on listed and unlisted investments. The reversal of the liability is expected on disposal of the underlying investments.

9
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the year
245,821
168,530
Non distributable profits in the year
128,432
77,291
At the end of the year
374,253
245,821

Non-distributable reserves comprise revaluations of an investment in a subsidiary company, net of taxation.

SWEETCOMBE COTTAGE HOLIDAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Connected company loan

During the year the company continued to extend a loan to a company with family connections to one of the directors. The loan balance of £75,000 (2024 - £75,000) was interest free, unsecured and deemed repayable on demand.

Advances to a participator

During the period advances were made from the company to a participator. At 31 March 2025 there was a balance of £0 (2024 - £14,826) owed back to the company. Interest was charged on outstanding balances at a rate of 2.25%. The advances were unsecured and deemed repayable on demand.

11
Operating lease commitments

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

2025
2024
£
£
5,050
5,100
12
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Four directors
2.25
44,477
177,577
1,923
(208,600)
15,377
44,477
177,577
1,923
(208,600)
15,377

Advances to the directors were unsecured and repayable on demand.

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