Company No: 12934387 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	396,789		575,578
Investments	4	1		1
		396,790		575,579
Current assets
Stocks		40,000		40,000
Debtors	5	284,393		249,671
Cash at bank and in hand		48,559		62,837
		372,952		352,508
Creditors: amounts falling due within one year	6	( 1,343,419)		( 1,596,496)
Net current liabilities		(970,467)		(1,243,988)
Total assets less current liabilities		(573,677)		(668,409)
Creditors: amounts falling due after more than one year	7	( 913,344)		( 255,523)
Net liabilities		( 1,487,021)		( 923,932)
Capital and reserves
Called-up share capital	8	350		350
Share premium account		639,770		639,770
Profit and loss account		( 2,127,141 )		( 1,564,052 )
Total shareholders' deficit		( 1,487,021)		( 923,932)

For the financial year ending 31 December 2024 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 and delivered 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 Winslade Manor Limited (registered number: 12934387) were approved and authorised for issue by the Board of Directors on 22 September 2025. They were signed on its behalf by:

Mr D J Gough 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, unless otherwise stated.

General information and basis of accounting

Winslade Manor 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 Winslade Manor Manor Drive, Clyst St Mary, Exeter, EX5 1FY, United Kingdom.

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 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 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £1,487,021 (2023: £923,932). The company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the company. Given the current position, the directors believe that any foreseeable debts can be met 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.

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 supply of services is recognised as they are delivered.

Where payments are received from customers in advance of services provided, the amounts are recorded as deposits and included as part of the creditors due within one year.

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, reducing balance] basis over its expected useful life, as follows:

Land and buildings	depreciated over the life of the lease
Plant and machinery	5 years straight line
Vehicles	3 years straight line
Fixtures and fittings	5 years straight line
Computer equipment	5 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

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	40		44

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2024	26,630		604,739		1,210		248,943		47,082		928,604
Additions	0		1,266		0		986		1,655		3,907
At 31 December 2024	26,630		606,005		1,210		249,929		48,737		932,511
Accumulated depreciation
At 01 January 2024	1,036		227,181		1,043		104,923		18,843		353,026
Charge for the financial year	1,775		121,002		167		50,197		9,555		182,696
At 31 December 2024	2,811		348,183		1,210		155,120		28,398		535,722
Net book value
At 31 December 2024	23,819		257,822		0		94,809		20,339		396,789
At 31 December 2023	25,594		377,558		167		144,020		28,239		575,578

4. Fixed asset investments

	2024		2023
	£		£
Subsidiary undertakings	1		1

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.12.2024	Ownership 31.12.2023	Held
Winslade Manor Limited	Winslade Manor Drive, Clyst St Mary, Exeter, EX5 1FY	Leisure facilities	Ordinary	100.00%	100.00%	Direct

5. Debtors

	2024		2023
	£		£
Trade debtors	88,402		57,694
Amounts owed by Group undertakings	70,293		53,422
Short term loans to Group companies	0		4,697
Prepayments	108,129		87,942
Other debtors	17,569		45,916
	284,393		249,671

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	717,813		568,171
Amounts owed to Group undertakings	15,000		0
Amounts owed to related parties	30,193		119,085
Amounts owed to directors	0		116,912
Other loans	42,201		336,868
Accruals and deferred income	186,962		116,084
Other taxation and social security	229,261		113,780
Obligations under finance leases and hire purchase contracts	72,185		121,820
Other creditors	49,804		103,776
	1,343,419		1,596,496

The obligation under finance leases and hire purchase contracts are secured against the assets they finance.

Loans are secured by personal guarantee and are repayable on demand. Interest is charged at the agreed rate.

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

	2024		2023
	£		£
Amounts owed to related parties	314,588		0
Amounts owed to directors	116,912		0
Other loans	421,931		124,499
Obligations under finance leases and hire purchase contracts	59,913		131,024
	913,344		255,523

The obligation under finance leases and hire purchase contracts are secured against the assets they finance.

Loans are secured by personal guarantee and are repayable on demand. Interest is charged at the agreed rate.

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
350 Ordinary shares of £ 1.00 each	350		350

9. Financial commitments

Commitments

Capital commitments are as follows:

	2024		2023
	£		£
Contracted for but not provided for:
Other	872,383		981,431

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	109,047		109,047
between one and five years	436,192		436,192
after five years	327,144		436,192
	872,383		981,431

10. Related party transactions

During the year, consultancy services for £36,065 (2023: £22,000) were provided to the Company by Dragonrose Holdings Limited at market value.