North Norfolk Country Hideaways Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 13428660 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

NORTH NORFOLK COUNTRY HIDEAWAYS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs M S Hickling

Mr D P Hickling

Mr S D J Hickling

Mr B P Hickling

REGISTERED OFFICE:

Ingram House

6 Meridian Way

Norwich

Norfolk

NR7 0TA

REGISTERED NUMBER:

13428660 (England and Wales)

ACCOUNTANTS:

LEES

Chartered Certified Accountants

Ingram House

Meridian Way

Norwich

Norfolk

NR7 0TA

FIXED ASSETS

Tangible assets

4

5,500

6,471

Investment property

5

975,190

975,190

980,690

981,661

CURRENT ASSETS

Debtors

6

27,907

34,464

CREDITORS

Amounts falling due within one year

7

955,290

982,754

NET CURRENT LIABILITIES

(927,383

)

(948,290

)

TOTAL ASSETS LESS CURRENT LIABILITIES

53,307

33,371

PROVISIONS FOR LIABILITIES

-

1,229

NET ASSETS

53,307

32,142

CAPITAL AND RESERVES

Called up share capital

8

40

40

Retained earnings

53,267

32,102

53,307

32,142

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:

Mrs M S Hickling - Director

1.	STATUTORY INFORMATION

North Norfolk Country Hideaways Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling, which is the functional currency of the company and rounded to the nearest £.

As at 31 May 2023 the company has net current liabilities of £927,383. Included in other creditors due within one year is an amount of £953,190 due to a company of which the company directors, Mrs M S Hickling and Mr D P Hickling, are directors The directors of this company will not seek repayment of this loan to the detriment of other creditors and will continue to provide the company with financial support as and when required. The directors therefore considers it appropriate to prepare the accounts on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2022

and 31 May 2023

7,613

DEPRECIATION

At 1 June 2022

1,142

Charge for year

971

At 31 May 2023

2,113

NET BOOK VALUE

At 31 May 2023

5,500

At 31 May 2022

6,471

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2022

and 31 May 2023

975,190

NET BOOK VALUE

At 31 May 2023

975,190

At 31 May 2022

975,190

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

27,907

34,464

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Taxation and social security

-

5,765

Other creditors

955,290

976,989

955,290

982,754

8.	CALLED UP SHARE CAPITAL

Allotted issued and fully paid:

Number:

Class:

Nominal value:

2023

2022

£

£

10

Ordinary A

£1

10

10

10

Ordinary B

£1

10

10

10

Ordinary C

£1

10

10

10

Ordinary D

£1

10

10

40

40

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 May 2023 and the period ended 31 May 2022:

2023

2022

£

£

Mrs M S Hickling

Balance outstanding at start of year

34,464

-

Amounts advanced

80,312

59,377

Amounts repaid

(92,925

)

(24,913

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

21,851

34,464

Interest of £434 has been charged on the loan.