Holiday At Home Limited Filleted accounts for Companies House (small and micro)
Holiday At Home Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
06488662
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For the Year Ending |
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Statement of Financial Position |
2018 |
2017 |
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Note |
£ |
£ |
£ |
Fixed Assets
Intangible assets |
5 |
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Tangible assets |
6 |
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Current Assets
Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net Current Liabilities |
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Total Assets Less Current Liabilities |
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Creditors: amounts falling due after more than one year |
9 |
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Provisions
Taxation including deferred tax |
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Net Assets |
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Capital and Reserves
Called up share capital |
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Revaluation reserve |
(
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Profit and loss account |
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Shareholders Funds |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
8 April 2019
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
06488662
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Notes to the Financial Statements |
Year Ended 31 December 2018
1.
General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brompton Lakes, Easby, Richmond, North Yorkshire, DL10 7EJ.
2.
Statement of Compliance
3.
Accounting Policies
Basis of Preparation
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. The directors consider that there are no significant estimates or judgements affecting the financial statements.
Revenue Recognition
Income Tax
Intangible Assets
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:
Website |
- |
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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
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:
Equipment |
- |
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Fixtures & Fittings |
- |
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Motor vehicles |
- |
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Impairment of Fixed Assets
Finance Leases and Hire Purchase Contracts
Provisions
Financial Instruments
4.
Employee Numbers
The average number of persons employed by the company during the year amounted to
40
(2017:
40
).
5.
Intangible Assets
Website |
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£ |
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Cost |
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At 1 January 2018 and 31 December 2018 |
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Amortisation |
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At 1 January 2018 |
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Charge for the year |
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At 31 December 2018 |
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Carrying amount |
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At 31 December 2018 |
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At 31 December 2017 |
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6.
Tangible Assets
Land and buildings |
Equipment |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost or valuation |
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At 1 January 2018 |
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Additions |
– |
– |
– |
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Revaluations |
(
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– |
– |
– |
(
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At 31 December 2018 |
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Depreciation |
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At 1 January 2018 |
– |
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Charge for the year |
– |
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At 31 December 2018 |
– |
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Carrying amount |
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At 31 December 2018 |
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At 31 December 2017 |
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Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles |
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£ |
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At 31 December 2018 |
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At 31 December 2017 |
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7.
Debtors
2018 |
2017 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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8.
Creditors:
amounts falling due within one year
2018 |
2017 |
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£ |
£ |
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Trade creditors |
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Amounts owed to group undertakings |
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– |
Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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Obligations under finance leases and hire purchase contracts |
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Director loan accounts |
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Other creditors |
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The hire purchase creditors are secured by the assets to which they relate.
9.
Creditors:
amounts falling due after more than one year
2018 |
2017 |
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£ |
£ |
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Obligations under finance leases and hire purchase contracts |
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Director loan accounts |
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The hire purchase creditors are secured by the assets to which they relate.
10.
Directors' Advances, Credits and Guarantees
At the year end the company owed £1,363,285 to the directors. This is interest free and repayable upon demand.
11.
Related Party Transactions
The two directors,
Mr R A Stephenson
and Mr W G Stephenson
, each own 50% of the company's issued share capital and so are the ultimate controlling party. The company receives commission from Brompton Lakes Limited for selling and administering holiday accommodation. It also recharges Brompton Lakes Limited for housekeeping and maintenance costs. All costs are recharged at the same rate that Holiday At Home charges other third party property owners. Brompton Lakes Limited is jointly owned by Roy, Will and Charlotte Stephenson. Roy and Will Stephenson are also directors of Holiday At Home Limited
. At the year end Holiday At Home Ltd owed Brompton Lakes Limited owed £25,523 (2017 - Brompton Lakes Ltd owed Holiday At Home Ltd £22,504). During the year Holiday At Home Ltd lent £85,000 to Brompton Lakes Limited as a long term interest free loan.