Company No: 11267959 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	19,440		35,089
		19,440		35,089
Current assets
Stocks		720,308		1,411,296
Debtors	4	20,568		53,239
Cash at bank and in hand		19,599		6,583
		760,475		1,471,118
Creditors: amounts falling due within one year	5	( 93,251)		( 815,953)
Net current assets		667,224		655,165
Total assets less current liabilities		686,664		690,254
Creditors: amounts falling due after more than one year	6	( 3,215)		( 6,469)
Provision for liabilities		( 4,860)		( 8,772)
Net assets		678,589		675,013
Capital and reserves
Called-up share capital	7	517,333		517,333
Share premium account		233,667		233,667
Profit and loss account		( 72,411 )		( 75,987 )
Total shareholders' funds		678,589		675,013

For the financial year ending 31 March 2025 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 Profit and Loss Account has not been delivered.

The financial statements of Teignmouth Maritime Properties Limited (registered number: 11267959) were approved and authorised for issue by the Board of Directors on 23 October 2025. They were signed on its behalf by:

Mr P N J Stenner Director

Ms T Redhead 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

Teignmouth Maritime Properties 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 Unit 20 Dawlish Business Park, Dawlish, EX7 0NH, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the 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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from management charges to group companies is recognised when the company has performed its obligations and, in exchange, obtained the right to consideration.

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.

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 over its expected useful life, as follows:

Plant and machinery	5 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	10 years straight line
Office equipment	5 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.

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.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		5

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	70,921		15,000		12,780		684		99,385
Additions	0		0		0		629		629
At 31 March 2025	70,921		15,000		12,780		1,313		100,014
Accumulated depreciation
At 01 April 2024	55,077		4,452		4,437		330		64,296
Charge for the financial year	12,157		2,637		1,278		206		16,278
At 31 March 2025	67,234		7,089		5,715		536		80,574
Net book value
At 31 March 2025	3,687		7,911		7,065		777		19,440
At 31 March 2024	15,844		10,548		8,343		354		35,089

4. Debtors

	2025		2024
	£		£
Trade debtors	6,380		16,372
Corporation tax	0		8,173
Other debtors	14,188		28,694
	20,568		53,239

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	3,255		3,255
Trade creditors	17,524		22,852
Amounts owed to associates	65,000		0
Corporation tax	4,245		0
Other creditors	3,227		789,846
	93,251		815,953

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

	2025		2024
	£		£
Bank loans	3,215		6,469

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

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
5,173,332 Ordinary shares of £ 0.10 each	517,333		517,333

8. Related party transactions

Other related party transactions

	2025		2024
	£		£
Amount owed to associated company	65,000		0