Headland Pavilion (1962) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00726515 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Headland Pavilion (1962) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P D Currie

Mrs P M Bagdonas

P R Horton

REGISTERED OFFICE:

Metherell Gard

Burn View

BUDE

Cornwall

EX23 8BX

REGISTERED NUMBER:

00726515 (England and Wales)

ACCOUNTANTS:

Metherell Gard Ltd

Chartered Accountants

Burn View

Bude

Cornwall

EX23 8BX

FIXED ASSETS

Investments

4

3,050,770

2,721,553

Investment property

5

500,000

3,550,770

3,221,553

CURRENT ASSETS

Debtors

8,693

9,799

Cash at bank

73,896

74,733

82,589

84,532

CREDITORS

Amounts falling due within one year

91,305

43,833

NET CURRENT (LIABILITIES)/ASSETS

(8,716

)

40,699

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,542,054

3,262,252

CREDITORS

Amounts falling due after more than one
year

(182,577

)

-

PROVISIONS FOR LIABILITIES

(55,100

)

(55,100

)

NET ASSETS

3,304,377

3,207,152

CAPITAL AND RESERVES

Called up share capital

5,200

Investment revaluation reserve

885,456

Fair value reserve

6

319,664

Retained earnings

2,094,057

1,996,832

SHAREHOLDERS' FUNDS

3,304,377

3,207,152

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2025 and were signed on its behalf by:

P R Horton - Director

Mrs P M Bagdonas - Director

P D Currie - Director

1.	STATUTORY INFORMATION

Headland Pavilion (1962) 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 (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets, as specified in the accounting policies below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rental income

Income from investment property lease out under an operating lease is recognised in turnover on a straight line basis over the lease term.

Rendering of services

Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured.

Investments in associates

Investment in associate undertakings are initially recognised at transaction price. The investment is subsequently measured at fair value based on the direct interest in the associate's assets and liabilities.

Investment income

The company's share of the associate's profit is recognised though profit or loss as a realised profit.

Increases in the fair value of the associate's assets are recognised in other income and investment revaluation reserve.

Distributions of profit from the associate are recognised as reductions in the fair value of the associate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Investment property

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

In subsequent years they are measured at fair value at each reporting date with changes to fair value recognised in profit or loss.

Financial instruments

All financial instruments are recognised initially at transaction price excluding transaction costs and subsequently at amortised cost. These include cash at bank, trade and other debtors, trade and other creditors and bank loans.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised through profit or loss in other

administrative expenses.

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.

Employee Benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 April 2024

2,721,553

Additions

329,217

At 31 March 2025

3,050,770

NET BOOK VALUE

At 31 March 2025

3,050,770

At 31 March 2024

2,721,553

Cost or valuation at 31 March 2025 is represented by:

Totals

£

Valuation in 2025

3,050,770

The company owns an interest in a partnership known as "Currie Headland", whose principal place of business is Bude, Cornwall.

The company is jointly and severally liable for any of the partnership liabilities.

The valuation is based on the company's direct interest in the assets and liabilities of the partnership as at 31st March 2025.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

500,000

NET BOOK VALUE

At 31 March 2025

500,000

At 31 March 2024

500,000

The investment properties were valued in August 2022 by an independent valuer. The independent valuer's report was based on the value the properties would command if placed on the market for sale under the market conditions at the time. The directors consider this value to be unchanged at the year end.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

500,000

If investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

Cost

164,836

6.

RESERVES

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

319,664