REGISTERED NUMBER: |
Tweedside Holidays Limited |
Unaudited Financial Statements |
for the Year Ended 31st July 2023 |
REGISTERED NUMBER: |
Tweedside Holidays Limited |
Unaudited Financial Statements |
for the Year Ended 31st July 2023 |
Tweedside Holidays Limited (Registered number: SC705229) |
Contents of the Financial Statements |
for the year ended 31st July 2023 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 3 | to | 5 |
Tweedside Holidays Limited |
Company Information |
for the year ended 31st July 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Academy House |
Shedden Park Road |
Kelso |
Roxburghshire |
TD5 7AL |
Tweedside Holidays Limited (Registered number: SC705229) |
Balance Sheet |
31st July 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges her 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. |
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 director and authorised for issue on |
Tweedside Holidays Limited (Registered number: SC705229) |
Notes to the Financial Statements |
for the year ended 31st July 2023 |
1. | Statutory information |
Tweedside Holidays Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end. |
Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - bank loans, directors' loans and accruals. |
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors' loans (being repayable on demand) and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. |
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. |
Tweedside Holidays Limited (Registered number: SC705229) |
Notes to the Financial Statements - continued |
for the year ended 31st July 2023 |
2. | Accounting policies - continued |
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. |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
The company has a deficit on the balance sheet. However most of the long term funding for the company is by way of a director's loan account. The director has made a commitment not to seek repayment of the loan within the foreseeable future. The director is confident that the company will trade out of its current difficulties therefore the accounts have been prepared on the going concern basis. |
3. | Employees and directors |
The average number of employees during the year was NIL (2022 - NIL). |
4. | Tangible fixed assets |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
Cost |
At 1st August 2022 |
Additions |
At 31st July 2023 |
Depreciation |
Charge for year |
At 31st July 2023 |
Net book value |
At 31st July 2023 |
At 31st July 2022 |
5. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Other creditors |
Tweedside Holidays Limited (Registered number: SC705229) |
Notes to the Financial Statements - continued |
for the year ended 31st July 2023 |
6. | Secured debts |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Other loans |
Cumberland Building Society hold a charge over 1 Temperance Terrace, Berwick Upon Tweed, TD15 1LR. |