Company No: 06126917 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	202,413		185,560
		202,413		185,560
Current assets
Debtors	4	51,986		35,740
Cash at bank and in hand		84,258		119,153
		136,244		154,893
Creditors: amounts falling due within one year	5	( 258,435)		( 299,667)
Net current liabilities		(122,191)		(144,774)
Total assets less current liabilities		80,222		40,786
Creditors: amounts falling due after more than one year	6	( 463,862)		( 466,948)
Net liabilities		( 383,640)		( 426,162)
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		( 383,740 )		( 426,262 )
Total shareholder's deficit		( 383,640)		( 426,162)

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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Cornwall Adventure Limited (registered number: 06126917) were approved and authorised for issue by the Director on 30 September 2025. They were signed on its behalf by:

L Gamble 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

Cornwall Adventure 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 Porthpean Outdoor Education Centre, Porthpean Road, St. Austell, PL26 6AZ, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £383,640. The Company is supported through loans from the Parent Company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the director believes 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.

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

Land and buildings	not depreciated
Plant and machinery	20 % reducing balance
Vehicles	20 % reducing balance
Fixtures and fittings	20 % reducing balance
Computer equipment	20 % reducing balance

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
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Financial instruments

The company holds the following financial instruments:

•Short term trade and other debtors and creditors;
•Intra-group loans; and
•Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	19		6

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2024	34,577		118,519		24,992		38,291		3,626		220,005
Additions	0		31,537		9,780		2,431		7,542		51,290
Disposals	0		0		0		0		( 86)		( 86)
At 31 December 2024	34,577		150,056		34,772		40,722		11,082		271,209
Accumulated depreciation
At 01 January 2024	0		23,815		5,332		4,718		580		34,445
Charge for the financial year	0		21,837		4,095		7,072		1,371		34,375
Disposals	0		0		0		0		( 24)		( 24)
At 31 December 2024	0		45,652		9,427		11,790		1,927		68,796
Net book value
At 31 December 2024	34,577		104,404		25,345		28,932		9,155		202,413
At 31 December 2023	34,577		94,704		19,660		33,573		3,046		185,560

4. Debtors

	2024		2023
	£		£
Trade debtors	28,540		11,700
Other debtors	23,446		24,040
	51,986		35,740

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	28,035		72,251
Other taxation and social security	18,122		1,729
Obligations under finance leases and hire purchase contracts	3,086		2,725
Other creditors	209,192		222,962
	258,435		299,667

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

	2024		2023
	£		£
Amounts owed to Group undertakings	447,047		447,047
Obligations under finance leases and hire purchase contracts	16,815		19,901
	463,862		466,948

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

8. Financial commitments

Commitments

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

	2024		2023
	£		£
within one year	45,000		45,000
between one and five years	180,000		180,000
after five years	810,000		855,000
	1,035,000		1,080,000

The commitment relates to a 25 year lease of the property from which the company operates.

9. Related party transactions

Transactions with owners holding a participating interest in the entity

	2024		2023
	£		£
Amounts owed to Newquay Lodge Hotel (Holdings) Ltd	(446,762)		(447,047)
Amounts owed by NQY Ltd	100		100
Amounts owed by Camp Cornwall Ltd	34		0
Amounts owed to First Wave Adventure Limited	(509)		0

10. Ultimate controlling party

Parent Company:

Newquay Lodge Hotel (Holdings) Limited

Porthpean Outdoor Education Centre, Porthpean Road, St. Austell, Cornwall, England, PL26 6AZ