Company No: 03781394 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2021		2020
		£		£
Fixed assets
Tangible assets	3	110,692		73,665
		110,692		73,665
Current assets
Debtors	4	262		67,542
Cash at bank and in hand		621,343		410,034
		621,605		477,576
Creditors
Amounts falling due within one year	5	( 412,644)		( 157,104)
Net current assets		208,961		320,472
Total assets less current liabilities		319,653		394,137
Creditors
Amounts falling due after more than one year	6	( 40,276)		( 50,000)
Provisions for liabilities		( 2,349)		( 9,997)
Net assets		277,028		334,140
Capital and reserves
Called-up share capital		2		2
Profit and loss account		277,026		334,138
Total shareholders' funds		277,028		334,140

For the financial year ending 30 June 2021 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 Ultimate Honeymoons Limited (registered number: 03781394) were approved and authorised for issue by the Board of Directors on 08 April 2022. They were signed on its behalf by:

David Benton Jones 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

Ultimate Honeymoons Limited (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 Sopley Mill, Sopley, Christchurch, BH23 7AU, England, 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 Ultimate Honeymoons Limited 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.

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 straight-line or a reducing balance basis over its expected useful life, as follows:

Property Improvements - 10 years straight line
Plant & Machinery - 25% Reducing balance
Fixtures & Fittings - 25% Reducing balance
Office Equipment - 3 years straight line

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.

Leases

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.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 July 2020	48,425		119,711		23,976		5,310		197,422
Additions	44,137		2,550		9,726		3,664		60,077
At 30 June 2021	92,562		122,261		33,702		8,974		257,499
Accumulated depreciation
At 01 July 2020	27,378		77,655		13,414		5,310		123,757
Charge for the financial year	8,557		10,621		3,550		322		23,050
At 30 June 2021	35,935		88,276		16,964		5,632		146,807
Net book value
At 30 June 2021	56,627		33,985		16,738		3,342		110,692
At 30 June 2020	21,047		42,056		10,562		0		73,665

4. Debtors

	2021		2020
	£		£
Other debtors	262		67,542

5. Creditors: amounts falling due within one year

	2021		2020
	£		£
Bank loans	8,891		0
Other creditors	390,972		125,515
Corporation tax	9,660		31,589
Other taxation and social security	3,121		0
	412,644		157,104

6. Creditors: amounts falling due after more than one year

	2021		2020
	£		£
Bank loans	40,276		50,000

There are no amounts included above in respect of which any security has been given by the small entity.