The director presents the strategic report for the year ended 30 September 2024.

The principal activity of the group is the running of a hotel, restaurant and bar in Bournemouth.

During the period the group operated The Royal Exeter Hotel, the 1812 restaurant, and the Barso bar in Bournemouth, Dorset.

All turnover and consequently profit is derived from these operations within the United Kingdom.

The director considers that the group's financial position at the end of the period is satisfactory.

The principal risks and uncertainties facing the group arise from:

• the competitive markets in which the group operates which continue to place pressure on margins

• the general economic environment, including customers' overall level of disposable income and spending patterns.

On behalf of the board

The director presents his report for the year ended 30 September 2024.

The results for the year are set out on page 8.

No ordinary dividends were paid. The director does not recommend payment of a final dividend.

The director who held office during the year and up to the date of signature of the financial statements was as follows:

The business is subject to certain financial risks, but has procedures and controls in place to mitigate these risks:

The group maintains a mixture of long-term group financing and short term bank overdraft facilities that are designed to ensure the group has sufficient available funds for present and planned future operations.

The group incurs external interest charges. Given the inflationary pressures, economic outlook for the foreseeable future and the potential for further interest rate rises, the impact of interest rate changes is seen as a minimal risk.

The group works continually to improve the assessment of trading levels and credit risk which includes regular credit rating checks. Payment reliability remains high with a continued very low exposure to bad debts.

The director intends for the group to continue operating with its existing activities, whilst taking advantage of opportunities as they arise.

In accordance with the company's articles, a resolution proposing that Whitley Stimpson Limited be reappointed as auditor of the group will be put at a General Meeting.

The truegroup has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the performance and future developments of the group.

So far as the director is aware, there is no relevant audit information of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

The director is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company, and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

We have audited the financial statements of Brewers of Nuneham Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the group's and the parent company's affairs as at 30 September 2024 and of the group's loss for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the director's report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of director's remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the parent company or to cease operations, or has no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, as outlined above, to detect material misstatements in respect of irregularities. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the group and industry, we identified that the principal risks of non-compliance with laws and regulations related to the risk of revenue recognition being materially misstated due to fraud. We considered the extent to which non-compliance might have a material effect on the financial statements, and considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006 and tax legislation.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks related to revenue.

Audit procedures performed included:

• Discussion amongst the audit team regarding the susceptibility of the client to fraud;

• Consideration of the risk of fraud when documenting and reviewing internal controls and procedures;

• Enquiring of management how they assess the risk of fraud, and identify and respond to the risks of fraud;

• Enquiring of management whether they have any knowledge of actual or suspected frauds or non-compliance with laws and regulations;

• Review of how those charged with governance exercise oversight of management's process for identifying and responding to the risk of fraud;

• Substantive testing of revenue and debtors, including specific testing to cover the risks associated with the recognition of revenue;

• Review of journals for unusual items;

• Review of relevant tax correspondence;

• Review of VAT return entries and performing analytical procedures on VAT balances;

• Substantive testing on fixed assets including physical verification to confirm existence;

• Review of property valuations and consider indications of impairment;

• Verifying ownership of properties included within the financial statements;

• Verification of employees and rates of pay;

• Review of bank reconciliations for evidence of window dressing; and

• Confirmation of balances and transactions to third party documentation for valuation and accuracy.

There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £18,318 (2023 - £13,074 loss).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

Brewers of Nuneham Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is The Royal Exeter Hotel, Exeter Road, Bournemouth, Dorset, BH2 5AG.

The group consists of Brewers of Nuneham Limited and all of its subsidiaries.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

The consolidated financial statements incorporate those of Brewers of Nuneham Limited and all of its subsidiaries (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the period are consolidated using the purchase method. Their results are incorporated from the date that control passes.

Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

At the time of approving the financial statements, the director has a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

This is on the basis of a review of cashflow projections and the bank facilities available to company, and in the understanding of, and in the expectation that, any bank facilities currently in place will be renewed at expiry.

Turnover represents amounts receivable for goods and services provided in the normal course of business, net of trade discounts and VAT. Turnover is recognised when the goods and services are physically delivered to the customer.

Turnover in respect of accommodation is recognised overnight during each night the customer stays, whilst all other sales, including restaurant, bar revenue and nightclub sales, are recognised at the point of sale.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Since the equity investments are not publicly traded and their fair value cannot otherwise be measured

reliably, these are recognised at cost less impairment, until a reliable measure of fair value becomes available.

In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other periods and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Deferred tax assets are recognised to the extent that it is considered, given all available evidence, that it is more likely than not they will be recoverable.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Companies within the group operate separate defined contribution schemes for the benefit of their employees. Contributions payable are charged to the profit and loss account in the year they are payable.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

In the application of the group’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

A valuation was carried out on 25 September 2023 by Savills, in respect of the company's freehold land and buildings in the amount of £4,700,000. The valuation was based on an open market existing use basis.

An estimation of the valuation of the group's investment property was made by the director, and estimated, on an open market basis, to be £1,772,920 as at the balance sheet date.

An analysis of the group's turnover is as follows:

The average monthly number of persons (including directors) employed by the group and company during the year was:

Their aggregate remuneration comprised:

The actual charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

A valuation was carried out on 25 September 2023 by Savills, in respect of the freehold land and buildings, having a historical revaluation cost of £4,108,000 and net book value of £4,071,296 at that date, in the amount of £4,700,000 giving rise to a revaluation gain at that date in the amount of £628,704. The valuation was based on an open market existing use basis.

Subsequent expenditure on the freehold land and buildings is to be capitalised at cost.

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

At the balance sheet date the valuation of investment properties was made by H Brewer (director) on an open market basis. No depreciation is provided in respect of these properties.

The historical cost of investment properties is £136,895.

Details of the company's subsidiaries at 30 September 2024 are as follows:

Gradeprofit Limited, Marketpoll Limited, and Proprofit Limited have accounting year ends of 30 June 2024. Each of these companies is dormant and therefore it was deemed not necessary to change the accounting date to match that of the group.

National Westminster Bank plc have a legal mortgage debenture over the assets of the company, held as security for borrowings amounting to £800,000 taken out in October 2019. National Westminster Bank plc also hold a guarantee of £900,000 granted by Halix Limited, supported by a fixed and floating charge over The Royal Exeter Hotel, Exeter Road, Bournemouth and all its associated assets. National Westminster Bank plc also hold an unscheduled mortgage debenture with Halix Limited.

National Westminster Bank plc have legal mortgages and hold fixed and floating charges over the company’s property at 62 Lake Street, New Hinksey, Oxfordshire, and Rosebourne, 64 Lake Street, New Hinksey, Oxfordshire.

National Westminster Bank plc hold an unlimited inter-company cross guarantee between Brewers of Nuneham Limited and Brewers Joint Operations Limited dated 18 October 2004. This security also incorporates Halix Limited.

National Westminster Bank plc also hold an unscheduled mortgage debenture dated 19 April 1979 incorporating a fixed and floating charge over all current and future assets of the company. They also have a right of set-off incorporated in a mortgage debenture dated 19 April 1979 and a right of set-off incorporated in legal mortgages dated 17 June 1987, 16 November 1990 (two) and 16 March 1994.

The overdraft facilities with National Westminster Bank plc are secured by a personal guarantee from P.J. Brewer, the sole shareholder and father to the director, of £900,000, an intercompany guarantee from Brewers Joint Operations Limited, and an unscheduled mortgage debtenture. These securities relate to both the Halix Limited and Brewers of Nuneham Limited overdraft facilities.

Deferred tax assets and liabilities are offset where the group or company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

The group operates defined contribution pension schemes for qualifying employees. The assets of the schemes are held separately from those of the group in independently administered funds.

Included within profit and loss account reserves are non-distributable reserves of £935,940 (2023 - £935,940) being increases in fair value of investment properties net of deferred tax thereon.

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

At the reporting end date the total future minimum sublease payments expected to be received under non-cancellable subleases was £60,000 (2023: £nil).

At the reporting end date the group had contracted with tenants for the following minimum lease payments:

On 18 October 2024, the company refinanced an existing loan agreement with its bank, National Westminster Bank plc. The value refinanced on this date amounted to £714,000, with the final repayment due in October 2041. This relates to amounts included in the financial statements at 30 September 2024, included as creditors falling due within one year (see note 15). Following the refinancing, these amounts will be recognised as creditors falling due after more than one year.

Under the terms of the new loan agreement, £31,241 is payable within one year, £100,878 is payable between two and five years, and £581,882 is payable after five years.

In securing this new agreement, additional security has been granted in favour of National Westminster Bank plc as follows:

National Westminster Bank plc hold a guarantee for £1,500,000, granted by Halix Limited, a subsidiary of the company. This is supported by a fixed charge against Royal Exeter Hotel, Exeter Road, Bournemouth and its associated assets. Additionally, they hold a further debenture over Halix Limited.

Details of the loans already held by the company and further information in relation to security is detailed within note 17.

On 27 February 2025, Halix Limited Pension Fund provided a loan to Halix Limited, a wholly owned subsidiary of the company, amounting to £200,000. This loan is repayable by instalment. Halix Limited Pension Fund is a related party of the company by virtue of H. Brewer being a beneficiary.

This loan is secured by a first legal mortgage over 62 Lake Street, Oxford, OX1 4RR.

In accordance with section 33.1A of FRS 102, disclosure is not given in these financial statements of transactions entered into between two or more members of the group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.

P. J. Brewer, the sole shareholder and father to the director, is a beneficiary of The Land Enterprise Consulting Limited Pension Fund. As at 30 September 2024, the company was owed £32,765 (2023 - £31,313) by the pension fund. During the year, the company settled expenses on behalf of The Land Enterprise Consulting Limited Pension Fund amounting to £1,452 (2023 - £7,020).

As at 30 September 2024, P. J. Brewer owed the company £28,189 (2023 - £28,189). There is no interest charged on this amount.

As at 30 September 2024, J. S. Brewer, wife of the director, owed the company £5,950 (2023 - £5,950). There is no interest charged on this amount.

Chromium Developments Limited is a company registered in Jersey in which P. J. Brewer holds an interest. As at 30 September 2024, the company was owed £593 (2023 - £593) by Chromium Developments Limited.

P. J. Brewer is the ultimate controlling party and father of the director, and had previously advanced funds to Halix Limited. As at 30 September 2024, £580,570 (2023 - £815,766) was owed to P. J. Brewer and is included in other creditors.

P. J. Brewer is a beneficiary of The Land Enterprise Consulting Limited Pension Fund. During the period, Halix Limited settled expenses on behalf of The Land Enterprise Consulting Limited Pension Fund amounting to £12,236 (2023 - £3,938). As at 30 September 2024, The Land Enterprise Consulting Limited Pension Fund owed Halix Limited £133,800 (2023 - £121,564). This amount is included within other debtors..

H. Brewer, who is a director of Halix Limited, is also a director of Parkstone Yacht Club Limited. During the period, Halix Limited made sales totalling £5,455 (2023 - £7,559) to Parkstone Yacht Club Limited. At the reporting date, Halix Limited was owed £4,985 (2023 - £6,308). This amount is included within trade debtors.

As at 30 September 2024, Halix Limited owed £nil (2023 - £13,500) to Chromium Developments Limited, an offshore family trust. This amount was included in other debtors. Rent charged by Chromium Developments Limited to Halix Limited in the period totalled £45,000 (2023 - £45,000).

H. Brewer is a beneficiary of Halix Limited Pension Fund. As at 30 September 2024 Halix Limited owed Halix Limited Pension Fund £nil (2023 - £78,000) and was owed £2,636 (2023 - £83,690) by Halix Limited Pension Fund. This amount is included in other debtors. Interest payable for the period ended 30 September 2024 totalled £3,769 credit (2023 - £4,680) and total interest payable due as at 30 September 2024 amounted to £nil (2023 - £18,720). This amount was included in other creditors. During the period, Halix Limited settled expenses on behalf of Halix Limited Pension Fund amounting to £4,305 (2023 - £38,327). During the period Halix Limited Pension Fund charged rent to Halix Limited amounting to £24,000 (2023 - £nil).

Advances or credits have been granted by the group to its director's as follows:

An loan has been granted by the group to its director and the loan is repayable on demand.

Throughout the current year and the preceding period the controlling party of the company was P. J. Brewer by virtue of his majority holding in the ordinary share capital of the company.