REGISTERED NUMBER: 00166874 (England and Wales)

ENDEAVOUR HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs G M Sopwith

N S Chapman

A R Hadden

J M Cadbury

C L Seherr-Thoss

SECRETARY:

N S Chapman

REGISTERED OFFICE:

Rivervale House

50 Victoria Road

Portslade

Brighton

BN41 1XB

REGISTERED NUMBER:

00166874 (England and Wales)

FIXED ASSETS

Tangible assets

4

11,137

14,394

Investments

5

2,500,201

2,500,201

Investment property

6

21,612,397

21,480,000

24,123,735

23,994,595

CURRENT ASSETS

Debtors

7

1,315,866

1,334,657

Cash at bank and in hand

852,493

717,254

2,168,359

2,051,911

CREDITORS

Amounts falling due within one year

8

(694,764

)

(608,336

)

NET CURRENT ASSETS

1,473,595

1,443,575

TOTAL ASSETS LESS CURRENT LIABILITIES

25,597,330

25,438,170

CREDITORS

Amounts falling due after more than one year

9

(4,000,000

)

(4,000,000

)

PROVISIONS FOR LIABILITIES

11

(527,729

)

(523,928

)

NET ASSETS

21,069,601

20,914,242

CAPITAL AND RESERVES

Called up share capital

47,110

47,110

Fair value reserve

12

7,616,663

7,616,663

Retained earnings

12

13,405,828

13,250,469

SHAREHOLDERS' FUNDS

21,069,601

20,914,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2025 and were signed on its behalf by:

N S Chapman - Director

1.	STATUTORY INFORMATION

Endeavour Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Rental income is recognised as revenue on a straight line basis over the term of the lease.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% and 50% on cost

Investments in subsidiaries

Fixed asset investments include investments in subsidiaries and are held at cost less provision for impairment.

Fixed asset investments are reviewed for impairment whenever events or circumstances indicate that the carrying value may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount and is charged to the profit and loss account,the recoverable amount being the higher of net realisable value and value in use.

Investment property

Investment properties are shown at their most recent fair value valuation. No depreciation is provided on these properties and any changes in fair value are recognised in profit or loss.

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.

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.

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.

Pension costs and other post-retirement benefits

The company operates a pension scheme providing benefits based on final pensionable pay. The assets of the scheme are held separately from those of the group. Contributions to the scheme are charged to the profit and loss account so as to spread the cost of pensions over employees' working lives with the group.This scheme is closed to new members and future accrual of benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

39,493

58,215

97,708

Additions

-

6,395

6,395

Disposals

-

(3,681

)

(3,681

)

At 31 December 2024

39,493

60,929

100,422

DEPRECIATION

At 1 January 2024

31,069

52,245

83,314

Charge for year

3,960

2,164

6,124

Eliminated on disposal

-

(153

)

(153

)

At 31 December 2024

35,029

54,256

89,285

NET BOOK VALUE

At 31 December 2024

4,464

6,673

11,137

At 31 December 2023

8,424

5,970

14,394

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

201

2,500,000

2,500,201

NET BOOK VALUE

At 31 December 2024

201

2,500,000

2,500,201

At 31 December 2023

201

2,500,000

2,500,201

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

21,480,000

Additions

132,397

At 31 December 2024

21,612,397

NET BOOK VALUE

At 31 December 2024

21,612,397

At 31 December 2023

21,480,000

The Investment Properties were revalued on 30 October 2023 by Knight Frank LLP in accordance with RICS Valuation - Global Standards, which incorporate the International Valuation Standards and the RICS UK National Supplement, on the basis of market value with existing tenancies.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

1,273,128

1,201,317

Other debtors

6,135

66,558

Prepayments

36,603

66,782

1,315,866

1,334,657

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Tax

105,821

66,177

VAT

66,935

33,456

Other creditors

36,728

41,387

Directors' current accounts

326

1,012

Accrued expenses

81,178

26,647

Rents in advance

403,776

439,657

694,764

608,336

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 2-5 years

4,000,000

4,000,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

4,000,000

4,000,000

The bank loan is secured by way of an inter company guarantee between Endeavour Holdings Limited and Key Frames and a legal charge on the various properties at Victoria Road, Portslade.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

527,729

523,928

Deferred

tax

£

Balance at 1 January 2024

523,928

Provided during year

3,801

Balance at 31 December 2024

527,729

12.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2024

13,250,469

7,616,663

20,867,132

Profit for the year

562,042

-

562,042

Dividends

(249,683

)

-

(249,683

)

Actuarial gain/(loss)

(157,000

)

-

(157,000

)

At 31 December 2024

13,405,828

7,616,663

21,022,491

13.	CONTINGENT LIABILITIES

Endeavour Holdings Ltd has entered into a cross guarantee in respect of certain hire purchase liabilities with Lombard North Central plc in relation to its former subsidiary Rivervale Cars Ltd. As at 31st December 2024 this liability was £208,000 (2023: £862,500)

14.	RELATED PARTY DISCLOSURES

Endeavour Holdings Ltd has entered into property rental leases with Rivervale Cars Ltd in the amount of £243,800 per annum running from 29 April 2022 to 28 April 2032. N S Chapman is a director of both of these companies.

15.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is considered to be the Trustees of T E B Sopwith Will Trust.