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

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

National Holidays Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, 111 High Street, Cheltenham, Gloucestershire, United Kingdom, GL50 1DW.

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 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.

At the time of approving the financial statements, the directors have assessed the company’s ability to continue to adopt the going concern basis of accounting and have determined that there are no material uncertainties that would make this inappropriate.true

On the basis of continuing support from the shareholders and related entities, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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

At each reporting period end date, the company 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.

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.

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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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, 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.

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 company after deducting all of its 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.

Equity instruments issued by the company 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 company.

The tax expense represents the sum of the tax currently payable and deferred 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 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 when the company has 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.

Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

In the application of the company’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.

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.

The directors consider the recoverability of amounts owed by related undertakings at each balance sheet date. Determining whether amounts owed by related undertakings are recoverable or otherwise is based on a review of the ability of the relevant entity to repay debts due to the company either through available cash, through the ability to generate cash in the future, or to repay debts due through other available mechanisms. Where it is determined that related undertakings may not be able to repay amounts owed, either in full or in part, an impairment loss may arise or a provision may be required. After reviewing the ability of related undertakings to repay debts due to the company at the balance sheet date, the directors have concluded that no impairments or provisions are required.

The annual amortisation charge for intangible assets is sensitive to changes in the estimated useful lives and residual values of the assets. The useful lives and residual values are re-assessed at each reporting date. They are amended when necessary to reflect current estimates, based on future investments and economic utilisation.

Rates of amortisation charged are considered on a line-by-line basis and disclosed within the accounting policy for intangible fixed assets.

See the fixed asset note for the carrying amount for each class of assets.

Certain balances held within other creditors due in more than one year are stated at the present value of the future payments, discounted at a market rate of interest for a similar debt instrument as required under sections 11 and 12 of FRS 102.

During the year ended 31 December 2024, a present value gain of £29,323 (2023: £513,721) was recognised in a capital contribution reserve and a finance cost of £146,337 (2023: £70,048) was recognised in profit or loss on the unwinding of this discount.

All amounts in relation to the unwinding of discount are transferred from profit and loss reserves to the capital contribution reserve.

The company had no employees in either the current or prior year.

Included within other debtors falling due after more than one year are interest free loans of £1,066,729 (2023: £985,431) due from related parties. These amounts are unsecured and are due for repayment at the earlier of 31 December 2026, a shareholder loan event of default or at the request of the company.

Included within other creditors are interest free loans of £1,350,618 (2023: £1,350,618) due to related parties. These amounts are unsecured and repayable on demand.

Included within other creditors are interest free loans of £2,090,790 (2023: £1,773,776) due to related parties. These amounts are unsecured and are due for repayment at the earlier of 31 December 2026, a shareholder loan event of default or at the request of the company.

Taxable losses have been incurred and are available for use against future taxable profits. The approximate value of the unrecognised deferred tax asset measured at a standard rate of 25% (2023: 25%) is £48,000 (2023: £8,000).

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The company had no financial commitments, guarantees or contingent liabilities as at either the current or prior balance sheet date.

On 27 May 2025 there was a purchase of own shares by the company and subsequent share cancellation on the same date in relation to 20 C Ordinary shares of £0.001 each and 20 E Ordinary shares of £0.001 each.

During the year, additional interest-free loans of £200,000 (2023: £2,250,000) were made by certain shareholders and related parties to the company. These additional loans were discounted to their present value at the date of receipt by the company using an appropriate interest rate as determined by the directors. As a result of this, the company increased its capital contribution reserve by £29,323 (2023: £513,721).

Long-term interest free loans from shareholders and related parties have been unwound at the equivalent market rate of interest resulting in an interest charge of £146,337 (2023: £70,048) to profit or loss. An equivalent amount has subsequently been transferred between the capital contribution reserve and retained earnings.

In the prior year, interest-free loans of £1,250,000 were made by the company to certain related parties. These additional loans were discounted to their present value at the date of receipt by the company using an appropriate interest rate as determined by the directors. As a result of this, the company were deemed to have made distributions of £302,066. These loans have been unwound at the equivalent market rate of interest resulting in interest receivable being recognised of £81,298 (2023: £37,497) within profit or loss.