Company No: 03075940 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Unaudited Financial Statements

DIRECTORS	Mrs J C Calvert
	Mr I R Calvert
REGISTERED OFFICE	Orchard Cottage
	Spriddlestone
	Plymouth
	Devon
	PL9 0DW
	United Kingdom
COMPANY NUMBER	03075940(England and Wales)
CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	Chy Nyverow
	Newham Road
	Truro
	TR1 2DP

		2020		2019
	Note	£		£
Fixed assets
Intangible assets	3	9,840		13,120
Tangible assets	4	6,337		8,449
		16,177		21,569
Current assets
Debtors	5	137,504		123,175
Cash at bank and in hand		631,247		666,426
		768,751		789,601
Creditors
Amounts falling due within one year	6	( 239,221)		( 252,306)
Net current assets		529,530		537,295
Total assets less current liabilities		545,707		558,864
Net assets		545,707		558,864
Capital and reserves
Called-up share capital	7	30,000		30,000
Profit and loss account		515,707		528,864
Total shareholders' funds		545,707		558,864

For the financial year ending 31 December 2020 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Have A Nice Stay Travel Ltd (registered number: 03075940) were approved and authorised for issue by the Board of Directors on 15 July 2021. They were signed on its behalf by:

Mr I R Calvert Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.

General information and basis of accounting

Have A Nice Stay Travel Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Orchard Cottage, Spriddlestone, Plymouth, Devon, PL9 0DW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Have A Nice Stay Travel Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax assets and liabilities are not discounted.

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the over its useful economic life of 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and equipment - 25% reducing balance
Motor vehicles - 25% reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through the Statement of Income and Retained Earnings, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

	2020		2019
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2020	65,600		65,600
At 31 December 2020	65,600		65,600
Accumulated amortisation
At 01 January 2020	52,480		52,480
Charge for the financial year	3,280		3,280
At 31 December 2020	55,760		55,760
Net book value
At 31 December 2020	9,840		9,840
At 31 December 2019	13,120		13,120

4. Tangible assets

	Plant and machinery		Vehicles		Total
	£		£		£
Cost
At 01 January 2020	20,206		28,160		48,366
At 31 December 2020	20,206		28,160		48,366
Accumulated depreciation
At 01 January 2020	18,439		21,478		39,917
Charge for the financial year	442		1,670		2,112
At 31 December 2020	18,881		23,148		42,029
Net book value
At 31 December 2020	1,325		5,012		6,337
At 31 December 2019	1,767		6,682		8,449

5. Debtors

	2020		2019
	£		£
Trade debtors	79,279		56,012
Prepayments	551		1,343
Deferred tax asset	40,171		40,147
Other debtors	17,503		25,673
	137,504		123,175

Included in trade debtors is £79,279 (2019: £56,012) relating to costs of holidays payable prior to the year end but departing after it.

6. Creditors: amounts falling due within one year

	2020		2019
	£		£
Trade creditors	143,924		136,100
Amounts owed to directors	85,521		87,530
Other creditors	9,776		25,076
Other taxation and social security	0		3,600
	239,221		252,306

Trade creditors includes income of £98,165 receivable prior to the year end in respect of holidays departing after it. Included in other creditors is £Nil (2019: £14,982) owed at the year end in respect of holidays included in trade debtors (see note 5).

7. Called-up share capital

	2020		2019
	£		£
Allotted, called-up and fully-paid
30,000 Ordinary shares of £ 1.00 each	30,000		30,000