Sure Options Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—5

1. General Information

Sure Options Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 05942992 . The registered office is Life Bank, 23 Quorn Street, Liverpool, L7 2QR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements are 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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Sure Options Limited is a wholly owned trading subsidiary of Parks Options Limited ant the results of Sure Options Limited are included in the consolidated financial statements of Parks Options Limited which are available from its registered office, Life Bank, 23 Quorn Street, Liverpool, L7 2QR.

2.2. Going Concern Disclosure

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources, despite the net current liabilities of £37,590, to continue in operational existence for the foreseeable future and has the continued support of the parent charity. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Turnover

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Over 12 - 24 months
Fixtures & Fittings	15% Reducing balance
Computer Equipment	25% Straight Line

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is 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 revoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.5. Cash and Cash Equivalents

Cash and cash equivalents 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.

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Sure Options Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Financial Instruments

The company 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 comapny after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using, the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.7. Taxation

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

2.8. Pensions

Payments to defined contribution retirement benefit scheme are charged as an expense as they fall due.

2.9. Government Grant

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Nursery Team	23	21
Sports Centre Team	2	1

	25	22

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Sure Options Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Land & Property
	Freehold	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 April 2024	28,020	108,062	136,082
Additions	-	10,813	10,813

As at 31 March 2025	28,020	118,875	146,895

Depreciation
As at 1 April 2024	28,020	34,954	62,974
Provided during the period	-	15,059	15,059

As at 31 March 2025	28,020	50,013	78,033

Net Book Value
As at 31 March 2025	-	68,862	68,862

As at 1 April 2024	-	73,108	73,108

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	5,965	6,353
Other debtors	17,663	16,579

	23,628	22,932

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	26,834	16,977
Bank loans and overdrafts	5,901	10,648
Amounts owed to group undertakings	118,639	97,993
Other creditors	17,888	6,698
Taxation and social security	7,350	4,443

	176,612	136,759

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	2,777	16,018

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Sure Options Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Loans

An analysis of the maturity of loans is given below:

	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	5,901	10,648

	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	2,777	16,018

9. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

10. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. Parent company

The ultimate parent company is Parks Options Limited, a company limited by guarantee registered in England and Wales (company number : 03828083, charity number : 1078076).

Parks Options Limited prepares group financial statements and copies can be obtained from its registered office, Life Bank, 23 Quorn Street, Liverpool, L7 2QR.

12. Audit Information

The auditor's report on the accounts of Sure Options Limited for the year ended 31 March 2025 was unqualified.

The auditor's report was signed by Paul Burns BSc BFP FCA (Senior Statutory Auditor) for and on behalf of Alexander Myreson & Co Limited , Statutory Auditor.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		68,862		73,108

			68,862		73,108
CURRENT ASSETS
Debtors	5	23,628		22,932
Cash at bank and in hand		115,394		91,239

		139,022		114,171
Creditors: Amounts Falling Due Within One Year	6	(176,612 )		(136,759 )

NET CURRENT ASSETS (LIABILITIES)			(37,590 )		(22,588 )

TOTAL ASSETS LESS CURRENT LIABILITIES			31,272		50,520

Creditors: Amounts Falling Due After More Than One Year	7		(2,777 )		(16,018 )

NET ASSETS			28,495		34,502

Income and Expenditure Account			28,495		34,502

MEMBERS' FUNDS			28,495		34,502