78
31/12/2021
2021-12-31
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No description of principal activities is disclosed
2021-01-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
01966317
2021-01-01
2021-12-31
01966317
2021-12-31
01966317
2020-12-31
01966317
2020-01-01
2020-12-31
01966317
2020-12-31
01966317
2019-12-31
01966317
core:NetGoodwill
2021-01-01
2021-12-31
01966317
bus:RegisteredOffice
2021-01-01
2021-12-31
01966317
bus:OrdinaryShareClass1
2021-01-01
2021-12-31
01966317
bus:OrdinaryShareClass2
2021-01-01
2021-12-31
01966317
bus:LeadAgentIfApplicable
2021-01-01
2021-12-31
01966317
bus:Director1
2021-01-01
2021-12-31
01966317
bus:Director2
2021-01-01
2021-12-31
01966317
bus:Director3
2021-01-01
2021-12-31
01966317
bus:Director4
2021-01-01
2021-12-31
01966317
core:WithinOneYear
2021-12-31
01966317
core:WithinOneYear
2020-12-31
01966317
core:NetGoodwill
2020-12-31
01966317
core:NetGoodwill
2021-12-31
01966317
core:LandBuildings
core:LongLeaseholdAssets
2020-12-31
01966317
core:FurnitureFittingsToolsEquipment
2020-12-31
01966317
core:MotorVehicles
2020-12-31
01966317
core:LandBuildings
core:LongLeaseholdAssets
2021-12-31
01966317
core:FurnitureFittingsToolsEquipment
2021-12-31
01966317
core:MotorVehicles
2021-12-31
01966317
core:RetainedEarningsAccumulatedLosses
2020-01-01
2020-12-31
01966317
core:RetainedEarningsAccumulatedLosses
2021-01-01
2021-12-31
01966317
core:AfterOneYear
2021-12-31
01966317
core:AfterOneYear
2020-12-31
01966317
core:LandBuildings
core:LongLeaseholdAssets
2021-01-01
2021-12-31
01966317
core:FurnitureFittingsToolsEquipment
2021-01-01
2021-12-31
01966317
core:MotorVehicles
2021-01-01
2021-12-31
01966317
core:ShareCapital
2021-12-31
01966317
core:ShareCapital
2020-12-31
01966317
core:RetainedEarningsAccumulatedLosses
2021-12-31
01966317
core:RetainedEarningsAccumulatedLosses
2020-12-31
01966317
core:ShareCapital
2019-12-31
01966317
core:RetainedEarningsAccumulatedLosses
2019-12-31
01966317
bus:OrdinaryShareClass1
core:ShareCapital
2021-12-31
01966317
bus:OrdinaryShareClass1
core:ShareCapital
2020-12-31
01966317
bus:OrdinaryShareClass2
core:ShareCapital
2021-12-31
01966317
bus:OrdinaryShareClass2
core:ShareCapital
2020-12-31
01966317
core:BetweenOneFiveYears
2021-12-31
01966317
core:BetweenOneFiveYears
2020-12-31
01966317
core:NetGoodwill
2020-12-31
01966317
core:CostValuation
core:Non-currentFinancialInstruments
2021-12-31
01966317
core:Non-currentFinancialInstruments
2021-12-31
01966317
core:Non-currentFinancialInstruments
2020-12-31
01966317
core:LandBuildings
core:LongLeaseholdAssets
2020-12-31
01966317
core:FurnitureFittingsToolsEquipment
2020-12-31
01966317
core:MotorVehicles
2020-12-31
01966317
bus:Director1
2020-12-31
01966317
bus:Director1
2021-12-31
01966317
bus:Director3
2020-12-31
01966317
bus:Director3
2021-12-31
01966317
bus:SmallEntities
2021-01-01
2021-12-31
01966317
bus:Audited
2021-01-01
2021-12-31
01966317
bus:FullAccounts
2021-01-01
2021-12-31
01966317
bus:SmallCompaniesRegimeForAccounts
2021-01-01
2021-12-31
01966317
bus:PrivateLimitedCompanyLtd
2021-01-01
2021-12-31
01966317
core:PlantMachinery
2021-01-01
2021-12-31
01966317
core:ComputerEquipment
2020-12-31
01966317
core:ComputerEquipment
2021-01-01
2021-12-31
01966317
core:ComputerEquipment
2021-12-31
01966317
core:AfterOneYear
2021-01-01
2021-12-31
01966317
core:KeyManagementIndividualGroup1
2021-01-01
2021-12-31
Company registration number:
01966317
Classic Cottages Limited
Filleted financial statements
31 December 2021
CLASSIC COTTAGES LIMITED
Contents
Directors and other information
Directors responsibilities statement
Statement of financial position
Statement of changes in equity
Notes to the financial statements
CLASSIC COTTAGES LIMITED
DIRECTORS AND OTHER INFORMATION
|
|
|
|
|
Directors
|
Mr S A Skitt
|
|
|
|
Mrs S A Tregoning
|
(Resigned 18 January 2022)
|
|
|
Mr S C Tregoning
|
|
|
|
Mr D R Harrison
|
(Appointed 18 January 2022)
|
|
|
|
|
|
|
|
|
|
Company number
|
01966317
|
|
|
|
|
|
|
|
|
|
|
Registered office
|
Sapphire House
|
|
|
|
Hayle Industrial Park
|
|
|
|
Hayle
|
|
|
|
Cornwall
|
|
|
|
TR27 5JR
|
|
|
|
|
|
|
|
|
|
|
Auditor
|
Westcotts (SW) LLP
|
|
|
|
26-28 Southernhay East
|
|
|
|
Exeter
|
|
|
|
EX1 1NS
|
|
|
|
|
|
CLASSIC COTTAGES LIMITED
DIRECTORS RESPONSIBILITIES STATEMENT
YEAR ENDED 31 DECEMBER 2021
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
CLASSIC COTTAGES LIMITED
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021
|
|
|
2021
|
|
|
|
2020
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
5
|
35,030
|
|
|
|
279,591
|
|
|
Tangible assets
|
|
6
|
242,902
|
|
|
|
246,006
|
|
|
Investments
|
|
7
|
122,899
|
|
|
|
122,899
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
400,831
|
|
|
|
648,496
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Debtors
|
|
8
|
687,182
|
|
|
|
699,896
|
|
|
Investments
|
|
9
|
891,782
|
|
|
|
259,569
|
|
|
Cash at bank and in hand
|
|
|
10,104,843
|
|
|
|
6,938,892
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
11,683,807
|
|
|
|
7,898,357
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
10
|
(
7,442,756)
|
|
|
|
(
6,434,175)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
4,241,051
|
|
|
|
1,464,182
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
4,641,882
|
|
|
|
2,112,678
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
11
|
|
|
(
1,303,023)
|
|
|
|
(
1,515,857)
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
9,320)
|
|
|
|
(
10,192)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
3,329,539
|
|
|
|
586,629
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
12
|
|
|
10,000
|
|
|
|
10,000
|
Profit and loss account
|
|
13
|
|
|
3,319,539
|
|
|
|
576,629
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
3,329,539
|
|
|
|
586,629
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
27 September 2022
, and are signed on behalf of the board by:
Mr S C Tregoning
Director
Company registration number:
01966317
CLASSIC COTTAGES LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 DECEMBER 2021
|
|
Called up share capital
|
|
Profit and loss account
|
Total
|
|
|
|
|
|
|
|
£
|
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 January 2020
|
|
10,000
|
|
843,086
|
853,086
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year
|
|
|
|
10,863
|
10,863
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
10,863
|
10,863
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable
|
|
|
|
(
277,320)
|
(
277,320)
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total investments by and distributions to owners
|
|
-
|
|
(
277,320)
|
(
277,320)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2020 and 1 January 2021
|
|
10,000
|
|
576,629
|
586,629
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year
|
|
|
|
2,753,773
|
2,753,773
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
2,753,773
|
2,753,773
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable
|
|
|
|
(
10,863)
|
(
10,863)
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total investments by and distributions to owners
|
|
-
|
|
(
10,863)
|
(
10,863)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2021
|
|
10,000
|
|
3,319,539
|
3,329,539
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CLASSIC COTTAGES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is
Classic Cottages Limited
, Sapphire House, Hayle Industrial Park, Hayle, Cornwall, TR27 5JR.
Principal activity
The principal activity of the company is that of a holiday letting agency.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
The company recognises revenue from holidays lettings in the period in which the lettings are taking place, deferring income from deposits received in prior periods until the relevant period commences. It is the judgment of management that this policy most accurately represents the point at which the company's obligations are discharged and revenue can be recognised.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Long leasehold property
|
-
|
Straight line 20%
|
|
|
Plant and machinery
|
-
|
Straight line 20% or 10%
|
|
|
Fittings fixtures and equipment
|
-
|
Straight line 25%, 20%, 3% or 2%
|
|
|
Motor vehicles
|
-
|
Straight line 25% or 20%
|
|
|
Computer equipment
|
-
|
Straight line 25%
|
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Investments in subsidiaries are measured at cost less accumulated impairment.Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.Government grants are recognised using the accrual model.Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
78
(2020:
75
).
5.
Intangible assets
|
|
Goodwill
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 January 2021 and 31 December 2021
|
1,590,072
|
1,590,072
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 1 January 2021
|
1,310,481
|
1,310,481
|
|
|
|
|
|
Charge for the year
|
244,561
|
244,561
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2021
|
1,555,042
|
1,555,042
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 December 2021
|
35,030
|
35,030
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2020
|
279,591
|
279,591
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Long leasehold property
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Computer equipment
|
Total
|
|
|
|
|
£
|
£
|
£
|
£
|
£
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 January 2021
|
34,968
|
50,789
|
282,705
|
113,583
|
482,045
|
|
|
|
Additions
|
-
|
3,960
|
74,987
|
26,203
|
105,150
|
|
|
|
Disposals
|
(
26,004)
|
-
|
(
41,003)
|
-
|
(
67,007)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 December 2021
|
8,964
|
54,749
|
316,689
|
139,786
|
520,188
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 January 2021
|
30,675
|
24,022
|
138,002
|
43,340
|
236,039
|
|
|
|
Charge for the year
|
1,793
|
10,128
|
62,229
|
30,675
|
104,825
|
|
|
|
Disposals
|
(
26,004)
|
-
|
(
37,574)
|
-
|
(
63,578)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 December 2021
|
6,464
|
34,150
|
162,657
|
74,015
|
277,286
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 December 2021
|
2,500
|
20,599
|
154,032
|
65,771
|
242,902
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 December 2020
|
4,293
|
26,767
|
144,703
|
70,243
|
246,006
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
7.
Investments
|
|
Shares in group undertakings and participating interests
|
Other investments other than loans
|
Total
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 January 2021 and 31 December 2021
|
45,000
|
77,899
|
122,899
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
Impairment
|
|
|
|
|
|
|
|
At 1 January 2021 and 31 December 2021
|
-
|
-
|
-
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 December 2021
|
45,000
|
77,899
|
122,899
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 December 2020
|
45,000
|
77,899
|
122,899
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
8.
Debtors
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
|
476,572
|
452,933
|
|
Other debtors
|
|
210,610
|
246,963
|
|
|
|
_______
|
_______
|
|
|
|
687,182
|
699,896
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Investments
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Investments in group undertakings
|
|
891,782
|
259,569
|
|
|
|
_______
|
_______
|
|
|
|
|
|
10.
Creditors: amounts falling due within one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Bank loans
|
|
363,644
|
534,174
|
|
Trade creditors
|
|
116,277
|
106,695
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
|
277,303
|
427,869
|
|
Accruals and deferred income
|
|
5,259,425
|
4,526,247
|
|
Social security and other taxes
|
|
683,171
|
158,496
|
|
Other creditors
|
|
742,936
|
680,694
|
|
|
|
_______
|
_______
|
|
|
|
7,442,756
|
6,434,175
|
|
|
|
_______
|
_______
|
|
|
|
|
|
11.
Creditors: amounts falling due after more than one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Bank loans
|
|
1,303,023
|
1,515,857
|
|
|
|
_______
|
_______
|
|
|
|
|
|
The company borrowed £2 million from Lloyds Bank plc on 1 July 2020, as a Coronavirus Business Interuption Loan, with repayments commencing in February 2021.
There was a registration of charge made on the loan and cross guaranteed with fellow group companies- Worval Holdings Limited, Sapphire Holidays Limited, Aspects Holidays Ltd and Boutique Retreats Ltd. This charge was satisfied in February 2022.
Included within creditors: amounts falling due after more than one year is an amount of £ -
(2020 £ 61,282 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
12.
Called up share capital
Issued, called up and fully paid
|
|
|
2021
|
|
|
|
2020
|
|
|
|
|
|
No
|
|
£
|
|
No
|
|
£
|
|
Ordinary A
shares of £
1.00 each
|
|
5,000
|
|
5,000
|
|
5,000
|
|
5,000
|
|
Ordinary B
shares of £
1.00 each
|
|
5,000
|
|
5,000
|
|
5,000
|
|
5,000
|
|
|
|
_______
|
|
_______
|
|
_______
|
|
_______
|
|
|
|
10,000
|
|
10,000
|
|
10,000
|
|
10,000
|
|
|
|
_______
|
|
_______
|
|
_______
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
13.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
14.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
Not later than 1 year |
44,109
|
24,267
|
Later than 1 year and not later than 5 years |
47,616
|
27,000
|
|
_______ |
_______ |
|
91,725
|
51,267
|
|
_______ |
_______ |
|
|
|
15.
Summary audit opinion
The auditor's report for the year dated
27 September 2022
was unqualified.
The senior statutory auditor was
Shona Godefroy FCCA
for and on behalf of
Westcotts (SW) LLP
16.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2021
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Amounts repaid
|
Balance o/standing
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
Mr S A Skitt
|
1,287
|
1,041
|
(
4,178)
|
(
1,850)
|
|
|
|
Mr S C Tregoning
|
580
|
2,443
|
(
580)
|
2,443
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
1,867
|
3,484
|
(
4,758)
|
593
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Amounts repaid
|
Balance o/standing
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
Mr S A Skitt
|
-
|
-
|
-
|
-
|
|
|
|
Mr S C Tregoning
|
-
|
-
|
-
|
-
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
17.
Related party transactions
During 2020, Mr S Tregoning, a director, purchased a car from the company for £4,000.
During 2020, the company paid rent of £48,000 to Mr S C and Mrs S A Tregoning
, directors and shareholders of the parent company.
18.
Controlling party
The controlling party is Sapphire Holidays Limited (formerly Worval Holdings Limited - company number 08153559), the immediate parent company, which owns all of the Ordinary A and B shares.On 30 September 2021,
Worval Holdings Limited (company number 13394610) was added as the group's ultimate holding company. Worval Holdings Limited produces consolidated accounts for the group and these are available from Companies House.The ultimate controlling parties are Mr S C and Mrs S A Tregoning, by virtue of their combined holding of 4000 C shares in Worval Holdings Limited.