Registration number: 12100851

Totland Pier Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Totland Pier Ltd

Company Information

Directors

Mr D J H Walker Mr C J McCarthy

Registered office

Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

Accountants

Vale & West Accountancy Services Limited Chartered AccountantsVictoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

Totland Pier Ltd

(Registration number: 12100851)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	66,722	75,240
Tangible assets	5	142,720	178,732
Investment property	6	3,826,189	3,826,189
		4,035,631	4,080,161
Current assets
Debtors	7	119,034	244,778
Cash at bank and in hand		110,996	231,075
		230,030	475,853
Creditors: Amounts falling due within one year	8	(4,117,844)	(4,394,884)
Net current liabilities		(3,887,814)	(3,919,031)
Total assets less current liabilities		147,817	161,130
Provisions for liabilities		(3,863)	(6,197)
Net assets		143,954	154,933
Capital and reserves
Called up share capital	9	2	2
Retained earnings		143,952	154,931
Shareholders' funds		143,954	154,933

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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 October 2025 and signed on its behalf by:
 

Mr D J H Walker Director

Totland Pier Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Victoria House
26 Queen Victoria Street
Reading
Berkshire
RG1 1TG

These financial statements were authorised for issue by the Board on 30 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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

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.

Tax

The tax expense for the period comprises 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.

The current income 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.

Totland Pier Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Fixtures and fittings	20% reducing balance
Motor vehicles	25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Totland Pier Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

Totland Pier Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	85,178	85,178
At 31 December 2024	85,178	85,178
Amortisation
At 1 January 2024	9,938	9,938
Amortisation charge	8,518	8,518
At 31 December 2024	18,456	18,456
Carrying amount
At 31 December 2024	66,722	66,722
At 31 December 2023	75,240	75,240

5	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	12,621	214,823	10,379	237,823
At 31 December 2024	12,621	214,823	10,379	237,823
Depreciation
At 1 January 2024	8,877	45,140	5,074	59,091
Charge for the year	749	33,937	1,326	36,012
At 31 December 2024	9,626	79,077	6,400	95,103
Carrying amount
At 31 December 2024	2,995	135,746	3,979	142,720
At 31 December 2023	3,744	169,683	5,305	178,732

Totland Pier Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6	Investment properties

	2024 £
At 1 January	3,826,189
At 31 December	3,826,189

There has been no valuation of investment property by an independent valuer.

7

Debtors

Current	2024 £	2023 £
Trade debtors	119,034	189,034
Prepayments	-	55,744
	119,034	244,778

8

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	2,973	723
Taxation and social security	57,245	8,335
Accruals and deferred income	6,000	64,200
Other creditors	4,051,626	4,321,626
	4,117,844	4,394,884

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Shares of £1 each	2	2	2	2

10	Related party transactions

Totland Pier Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

10	Related party transactions (continued)

Other transactions with directors

At the year end the company owed the directors the following amounts, D J H Walker £594 (2023 - £594) and C McCarthy £2,025,998 (2023 - £2,100,998).

The company also has a loan from A2K Investments Ltd, a company of which D J H Walker is a director. At the year end, the company owed £1,906,000 (2023 - £2,031,000) to A2K Investments Ltd.