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REGISTERED NUMBER:
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CHALET SKI HOLIDAYS LIMITED |
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2019 |
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REGISTERED NUMBER:
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CHALET SKI HOLIDAYS LIMITED |
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2019 |
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CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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CHALET SKI HOLIDAYS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2019 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditors |
Sidings House |
Sidings Court |
Lakeside |
Doncaster |
South Yorkshire |
DN4 5NU |
CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154) |
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BALANCE SHEET |
31 MAY 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
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 ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2019 |
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1. | STATUTORY INFORMATION |
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Chalet Ski Holidays Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of winter holiday packages, excluding value added tax. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised |
evenly over its revised estimated useful life of thirty years, based on an assessment of its value carried out by the |
directors in the context of the business customer base and long term operational strategy. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Ski equipment | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2019 |
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3. | ACCOUNTING POLICIES - continued |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 June 2018 |
and 31 May 2019 |
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AMORTISATION |
At 1 June 2018 |
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Charge for year |
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At 31 May 2019 |
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NET BOOK VALUE |
At 31 May 2019 |
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At 31 May 2018 |
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CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2019 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
Ski | and | Motor |
equipment | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2018 |
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Additions |
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Disposals |
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At 31 May 2019 |
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DEPRECIATION |
At 1 June 2018 |
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Charge for year |
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Eliminated on disposal |
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( |
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At 31 May 2019 |
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NET BOOK VALUE |
At 31 May 2019 |
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At 31 May 2018 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 1,221,020 | 1,221,020 |
CHALET SKI HOLIDAYS LIMITED (REGISTERED NUMBER: 04261154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2019 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | RELATED PARTY DISCLOSURES |
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Sarl Rocky's |
Mutual directors and shareholders. |
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During the year the company traded with Sarl Rocky's, a business based in France. |
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2019 | 2018 |
£ | £ |
Management charge received | 44,024 | 43,917 |
Trade debtor at the year end | NIL | NIL |
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Osborne family |
Directors and majority shareholders. |
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At the year end the company owed the Osborne family £30,091 (2018: £52,761), by way of a directors loan |
account. The loan is interest free with no fixed repayment terms. |
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The company paid £319,409 (2018: £320,947) in respect of chalet rental costs for two properties owned |
personally by Mr B J H and Mrs F M Osborne. The amounts paid were below commercial rates. |
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The company paid dividends to the Osborne family in total of £NIL (2018: £NIL). |
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The company has an outstanding loan balance due to Sci Vierge a company owned by members of the Osborne |
family. The balance at the year end was £79,259 (2018: NIL). |
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The company paid £8,400 (2018: £8,400) in respect of rental costs for a property owned personally by the |
director, used within the business.. |
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At the year end, the company was owed £5,552 (2018: NIL) by Made2 Developments, a company which the |
director Mr J S Obsorne is a shareholder. |
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12. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit returns |
to the tax authorities and assist with the preparation of the financial statements. |
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13. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of Mr B J H and Mrs F M Osborne by virtue of their combined 53% holding in |
its issued ordinary share capital. |