Company No: 11489617 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	9,269		6,000
		9,269		6,000
Current assets
Debtors	4	309		359
Cash at bank and in hand		6,094		23,895
		6,403		24,254
Creditors: amounts falling due within one year	5	( 12,349)		( 11,606)
Net current (liabilities)/assets		(5,946)		12,648
Total assets less current liabilities		3,323		18,648
Provision for liabilities		( 2,317)		( 1,499)
Net assets		1,006		17,149
Capital and reserves
Called-up share capital	6	2		2
Profit and loss account		1,004		17,147
Total shareholders' funds		1,006		17,149

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 Surf Hire Newquay Limited (registered number: 11489617) 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

Surf Hire 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 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 rent of goods and 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 rental period begins due to the short term nature of such agreements.

Taxation

Current tax
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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:

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.

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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	8,234		8,234
Additions	5,054		5,054
At 31 December 2024	13,288		13,288
Accumulated depreciation
At 01 January 2024	2,234		2,234
Charge for the financial year	1,785		1,785
At 31 December 2024	4,019		4,019
Net book value
At 31 December 2024	9,269		9,269
At 31 December 2023	6,000		6,000

4. Debtors

	2024		2023
	£		£
Other debtors	309		359

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	7,500		113
Taxation and social security	2,837		9,931
Other creditors	2,012		1,562
	12,349		11,606

6. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and not yet paid
2 Ordinary shares of £ 1.00 each	2		2