Registration number: 10478686

Victoria Holiday Flats Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 9

Victoria Holiday Flats Limited

Company Information

Directors

Mr T N Woolnough Mr A C Woolnough

Registered office

37 Strawberry How Road Cockermouth Cumbria CA13 9ZD

Accountants

Lanham & Francis Church House Church Street Yeovil Somerset BA20 1HB

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Victoria Holiday Flats Limited
for the Year Ended 31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Victoria Holiday Flats Limited for the year ended 31 December 2025 as set out on pages 3 to 9 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Victoria Holiday Flats Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Victoria Holiday Flats Limited and state those matters that we have agreed to state to the Board of Directors of Victoria Holiday Flats Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Victoria Holiday Flats Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Victoria Holiday Flats Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Victoria Holiday Flats Limited. You consider that Victoria Holiday Flats Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Victoria Holiday Flats Limited. 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 accounts.

Lanham & Francis
Church House
Church Street
Yeovil
Somerset
BA20 1HB

5 October 2026

Victoria Holiday Flats Limited

(Registration number: 10478686)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	4	800,000	800,000
Current assets
Debtors	6	-	4,230
Cash at bank and in hand		13,145	6,001
		13,145	10,231
Creditors: Amounts falling due within one year	7	(695,931)	(694,804)
Net current liabilities		(682,786)	(684,573)
Total assets less current liabilities		117,214	115,427
Creditors: Amounts falling due after more than one year	7	(6,490)	(6,688)
Provisions for liabilities		(39,545)	(39,545)
Net assets		71,179	69,194
Capital and reserves
Called up share capital	8	300	300
Other reserves		123,832	123,832
Retained earnings		(52,953)	(54,938)
Shareholders' funds		71,179	69,194

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Victoria Holiday Flats Limited

(Registration number: 10478686)
Balance Sheet as at 31 December 2025 (continued)

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 3 October 2026 and signed on its behalf by:
 

Mr T N Woolnough Director

Victoria Holiday Flats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
37 Strawberry How Road
Cockermouth
Cumbria
CA13 9ZD

The principal place of business is:
Victoria Flats
9 Courtenay Place
Teignmouth
Devon
TQ14 8AY

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These 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 £1.

Group accounts not prepared

The company has taken advantage of the exemptions provided by the Companies Act 2006 not to prepare consolidated accounts for the year..

Revenue recognition

Turnover comprises rent received from a wholly owned subsidiary.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Victoria Holiday Flats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Investment property	No provision is made
Furniture, fittings and equipment	3 years on cost

Investment property

The company's investment property is valued annually by the directors at fair value and on the basis that all apartments are disposed of as one sale. In assessing fair value the directors take into account current market conditions.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Victoria Holiday Flats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Financial instruments

Classification
FRS 102 classifies financial instruments as either basic financial instruments or other financial instruments. The accounting treatment varies according to the classification.
Basic financial instruments are defined as one of the following:
- cash
- a debt instrument (such as accounts receivable and payable)
- commitment to receive a loan that satisfy certain criteria
- investments in non-convertible preference shares, and non puttable ordinary shares.

All other financial instruments are classed as other financial instruments and treated accordingly.

 Recognition and measurement
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Investment properties

	2025 £
At 1 January	800,000
At 31 December	800,000

The company's investment property has been valued by the directors at fair value and on the basis that all apartments are disposed of as one sale.

There has been no valuation of investment property by an independent valuer.

Victoria Holiday Flats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

5	Investments

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2025	2024
Subsidiary undertakings
Victoria Holiday Apartments Limited	37 Strawberry How Road Cockermouth Cumbria CA13 9ZD England and Wales	Ordinary	100%	100%

The principal activity of Victoria Holiday Apartments Limited is holiday lettings.

The subsidiary is considered to have no value, so the investment has been fully impaired.

6

Debtors

	Note	2025 £	2024 £
Amounts owed by related parties	9	-	4,000
Prepayments		-	230
		-	4,230

Victoria Holiday Flats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		225	226
Accruals and deferred income		9,104	9,033
Other creditors		686,602	685,545
		695,931	694,804