CARISMA_HOLIDAYS_LIMITED - Accounts

CARISMA HOLIDAYS LIMITED - Company Information

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Company Registration No. 01463209 (England and Wales)

CARISMA HOLIDAYS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

CARISMA HOLIDAYS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CARISMA HOLIDAYS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

1,383,836

1,238,410

Current assets

Debtors

95,946

129,528

Cash at bank and in hand

349,060

405,611

445,006

535,139

Creditors: amounts falling due within one year

(1,126,865)

(1,005,384)

Net current liabilities

(681,859)

(470,245)

Total assets less current liabilities

701,977

768,165

Creditors: amounts falling due after more than one year

(500,000)

Provisions for liabilities

(213,492)

(231,235)

(11,515)

36,930

Capital and reserves

Called up share capital

40,000

Profit and loss account

(51,515)

(3,070)

Shareholders' funds

(11,515)

36,930

For the financial year ended 31 December 2014 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 financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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

Approved by the Board for issue on 3 June 2015

Mr M R Turner

Director

Company Registration No. 01463209

CARISMA HOLIDAYS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT, discounts and refunds. Income, including deposits, is recognised in the accounts as the holidays take place.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold improvements

10% on cost

Mobile homes

4% on cost

Office equipment

10% on cost

Campsite equipment

10% on cost

Motor vehicles

25% reducing balance

During the year the company changed the method of depreciating the mobile homes from 8% of cost to 4% of cost. This was due to the fact that the mobile homes which have been sold over the last few years have made a considerable profit against their respective net book values. As such it was agreed to depreciate this class of asset over a longer period of time.

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

CARISMA HOLIDAYS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2014

2,522,509

Additions

195,482

Disposals

(175,043)

At 31 December 2014

2,542,948

Depreciation

At 1 January 2014

1,284,099

On disposals

(147,325)

Charge for the year

22,338

At 31 December 2014

1,159,112

Net book value

At 31 December 2014

1,383,836

At 31 December 2013

1,238,410

Share capital

2014

2013

Allotted, called up and fully paid

40,000 ordinary shares of £1 each

40,000

Ultimate parent company

The ultimate controlling party is Mr M R Turner, by virtue of the fact that he and his wife own 100% of the shareholding in the company.