Company No: 10114004 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	84,096		98,953
		84,096		98,953
Current assets
Stocks	4	500		500
Debtors	5	39,954		27,239
Cash at bank and in hand		29,332		41,411
		69,786		69,150
Creditors: amounts falling due within one year	6	( 36,059)		( 60,605)
Net current assets		33,727		8,545
Total assets less current liabilities		117,823		107,498
Creditors: amounts falling due after more than one year	7	( 23,509)		( 13,928)
Provision for liabilities		( 13,341)		( 16,417)
Net assets		80,973		77,153
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		80,873		77,053
Total shareholders' funds		80,973		77,153

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Great Western Beach (Newquay) Limited (registered number: 10114004) were approved and authorised for issue by the Board of Directors 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

Great Western Beach (Newquay) 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, Porthpean, 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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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	20 years straight line
Plant and machinery etc.	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 are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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

The company holds the following financial instruments:

•Short term trade and other debtors and creditors; and
•Bank balances.

All financial instruments are classified as basic.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		7

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 January 2024	55,860		117,341		173,201
Additions	0		1,512		1,512
Disposals	0		( 2,429)		( 2,429)
At 31 December 2024	55,860		116,424		172,284
Accumulated depreciation
At 01 January 2024	19,447		54,801		74,248
Charge for the financial year	2,793		12,702		15,495
Disposals	0		( 1,555)		( 1,555)
At 31 December 2024	22,240		65,948		88,188
Net book value
At 31 December 2024	33,620		50,476		84,096
At 31 December 2023	36,413		62,540		98,953

4. Stocks

	2024		2023
	£		£
Stocks	500		500

5. Debtors

	2024		2023
	£		£
Trade debtors	28,500		10,000
Other debtors	11,454		17,239
	39,954		27,239

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	7,000		7,000
Trade creditors	188		143
Taxation and social security	383		3,618
Obligations under finance leases and hire purchase contracts	5,143		26,402
Other creditors	23,345		23,442
	36,059		60,605

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

	2024		2023
	£		£
Bank loans	6,919		13,928
Obligations under finance leases and hire purchase contracts	16,590		0
	23,509		13,928

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

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

9. Financial commitments

Commitments

Capital commitments are as follows:

	2024		2023
	£		£
Contracted for but not provided for:
Finance leases entered into	78,808		119,028

These financial commitments are in relation to leasehold rent and service charges.

10. Related party transactions

Other related party transactions

	2024		2023
	£		£
Amounts owed to First Wave Adventures Ltd	(15,000)		(15,000)
Amount owed by NQY Ltd	34		0