Company No: 06736853 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	7,537		10,292
Tangible assets	4	2,629,464		2,704,084
		2,637,001		2,714,376
Current assets
Stocks		34,327		33,429
Debtors	5	370,124		332,965
Cash at bank and in hand		73,099		92,823
		477,550		459,217
Creditors: amounts falling due within one year	6	( 1,035,143)		( 1,075,105)
Net current liabilities		(557,593)		(615,888)
Total assets less current liabilities		2,079,408		2,098,488
Creditors: amounts falling due after more than one year	7	( 2,000,000)		( 2,000,000)
Net assets		79,408		98,488
Capital and reserves
Called-up share capital		100		100
Profit and loss account		79,308		98,388
Total shareholder's funds		79,408		98,488

For the financial year ending 28 February 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 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 Profit and Loss Account has not been delivered.

The financial statements of South Sands Hotel Limited (registered number: 06736853) were approved and authorised for issue by the Board of Directors on 24 October 2025. They were signed on its behalf by:

S J Ball 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

South Sands Hotel 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 South Sands Hotel, Bolt Head, Salcombe, TQ8 8LL, 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities at the Balance Sheet date. The Company is supported through loans from other companies controlled by the shareholder who has confirmed that the loan facilities will continue to be available as required and will continue to support the Company. The directors are resolved to take responsible steps to ensure that capital and other financing continues to be in place so as to enable the Company to meet its obligations as they fall due and to execute the strategy of the company. The directors see no reason why the company should not continue in operational existence for the foreseeable future. On this basis and on the continuing support of the shareholder, the directors have adopted the going concern basis in preparing the Company's financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The Company recognises revenue when goods and services have been provided. Deposits received in advance are included within other creditors on the balance sheet.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

4 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Vehicles	4 years straight line
Fixtures and fittings	4 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and 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. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	46		48

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 March 2024	19,840		19,840
Additions	1,563		1,563
At 28 February 2025	21,403		21,403
Accumulated amortisation
At 01 March 2024	9,548		9,548
Charge for the financial year	4,318		4,318
At 28 February 2025	13,866		13,866
Net book value
At 28 February 2025	7,537		7,537
At 29 February 2024	10,292		10,292

4. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 March 2024	3,304,594		165,058		1,826,337		5,295,989
Additions	4,625		0		11,140		15,765
Disposals	0		0		( 40,359)		( 40,359)
At 28 February 2025	3,309,219		165,058		1,797,118		5,271,395
Accumulated depreciation
At 01 March 2024	667,596		160,891		1,763,418		2,591,905
Charge for the financial year	51,105		2,500		35,878		89,483
Disposals	0		0		( 39,457)		( 39,457)
At 28 February 2025	718,701		163,391		1,759,839		2,641,931
Net book value
At 28 February 2025	2,590,518		1,667		37,279		2,629,464
At 29 February 2024	2,636,998		4,167		62,919		2,704,084

The net book value of land and buildings shown above includes £2,445,043 (2024 - £2,482,289) that relates to freehold land and buildings and £145,475 (2024 - £148,492) that relates to leasehold buildings.

5. Debtors

	2025		2024
	£		£
Prepayments	4,397		4,441
Other taxation and social security	0		5,681
Other debtors	365,727		322,843
	370,124		332,965

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	78,326		45,892
Amounts owed to directors	203		0
Accruals	56,326		55,093
Corporation tax	13,164		36,918
Other taxation and social security	46,418		42,003
Other creditors	840,706		895,199
	1,035,143		1,075,105

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

	2025		2024
	£		£
Bank loans (secured)	2,000,000		2,000,000

Bank borrowings are secured by way of fixed and floating charges over all the property, assets and undertakings of the Company.

8. Related party transactions

Transactions with owners holding a participating interest in the entity

Within other creditors, there is a balance of £711,335 (2024 - £715,302) owed to Companies controlled by D G Noble. Within other debtors there is a balance of £345,149 (2024 - £311,251) owed by Companies controlled by D G Noble. These loans are repayable on demand.

During the year, it was agreed that the Company would start paying interest to one of the Companies controlled by D G Noble. Interest paid in the year was £24,979.

During the year the Company paid rent of £3,000 (2024 - £12,000) to D G Noble. There is no formal lease in place.

Transactions with the entity's directors

Advances

The Director's loan account is repayable on demand and interest has been charged on overdrawn balances exceeding £10,000 at official HMRC rates.

During the year, the company made advances to the director amounting to £34 and received repayments of £34.

In the previous year, there were no advances or repayments made to the director.