REGISTERED NUMBER: 06632366 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

SESSIONS SURF SHOPS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S P Van-Evelingen

G D Williams

REGISTERED OFFICE:

Alder Farm

Lewdown

Okehampton

Devon

EX20 4PJ

REGISTERED NUMBER:

06632366 (England and Wales)

ACCOUNTANTS:

Gravita Western Limited

Keble House

Southernhay Gardens

Exeter

Devon

EX1 1NT

FIXED ASSETS

Intangible assets

5

10,312

18,562

Tangible assets

6

28,701

2,128

39,013

20,690

CURRENT ASSETS

Stocks

640,862

739,157

Debtors

7

26,971

14,107

Cash at bank and in hand

219,444

262,899

887,277

1,016,163

CREDITORS

Amounts falling due within one year

8

(114,601

)

(154,999

)

NET CURRENT ASSETS

772,676

861,164

TOTAL ASSETS LESS CURRENT LIABILITIES

811,689

881,854

CREDITORS

Amounts falling due after more than one year

9

(30,681

)

(29,421

)

PROVISIONS FOR LIABILITIES

(5,453

)

(60

)

NET ASSETS

775,555

852,373

CAPITAL AND RESERVES

Called up share capital

198

198

Retained earnings

775,357

852,175

775,555

852,373

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2025 and were signed on its behalf by:

G D Williams - Director

1.	COMPANY INFORMATION

Sessions Surf Shops 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The company's principal places of business are: 26 Church Street, Falmouth TR11 3EG, 25 Market Place, Penzance TR18 2JD and 134 Fore Street, Exeter, Devon EX4 3AN.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost convention.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods to customers falling within the company's ordinary activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Goodwill

Goodwill, the amounts paid in connection with the acquisition of businesses in 2008 and 2016, are being amortised evenly over its estimated useful life of 10 years.

Tangible fixed assets

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

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Cash and cash equivalents

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for the benefit of its employees and one director. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2024 - 27 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

132,500

AMORTISATION

At 1 February 2024

113,938

Amortisation for year

8,250

At 31 January 2025

122,188

NET BOOK VALUE

At 31 January 2025

10,312

At 31 January 2024

18,562

6.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 February 2024

18,960

38,165

57,125

Additions

-

30,720

30,720

At 31 January 2025

18,960

68,885

87,845

DEPRECIATION

At 1 February 2024

18,960

36,037

54,997

Charge for year

-

4,147

4,147

At 31 January 2025

18,960

40,184

59,144

NET BOOK VALUE

At 31 January 2025

-

28,701

28,701

At 31 January 2024

-

2,128

2,128

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

15,492

3,625

Prepayments and accrued income

11,479

10,482

26,971

14,107

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

21,724

18,978

Tax

-

25,006

Social security and other taxes

7,142

5,921

VAT

30,508

30,022

Other creditors

14,847

24,926

Directors' loan accounts

30,721

30,721

Accruals and deferred income

9,659

19,425

114,601

154,999

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other loans (see note 10)

30,681

29,421

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due between one and two years:

Other loans - 1-2 years

30,681

29,421

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

62,630

67,880

Between one and five years

155,950

218,580

218,580

286,460

12.	RELATED PARTY DISCLOSURES

A company which owns 50% of the 'A' share capital and 70% of the 'B' share capital of the company.

During the period under review the company purchased goods from the related party amounting to £69,253 (2024: £88,376 ). At the balance sheet date the outstanding amount payable to the related party and included within trade creditors due within one year amounted to £10,682 (2023: £1,472).

Included within creditors, amounts falling due after one year, is a loan in favour of the related party. The loan outstanding at the balance sheet date amounted to £30,681 (2024: £29,421).

The loan is interest free and repayable on one year's notice being given by the related party or sooner at the company's discretion.

13.	ULTIMATE CONTROLLING PARTY

The immediate parent is Alder Sportswear Limited, a company registered in England and Wales.

The ultimate controlling company is Alder Sportswear (Holdings) Limited, a company registered in England and Wales. The registered office and principal place of business is:

Lewdown

Nr Okehampton

Devon

EX20 4PJ

No one individual has control over Alder Sportswear (Holdings) Limited.