C&D South Coast Partnership Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10799102

C&D SOUTH COAST PARTNERSHIP LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

C&D SOUTH COAST PARTNERSHIP LTD

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		4,130,741	4,139,898

Current assets

Stocks		21,272	22,221
Debtors	7	66,911	68,296
Cash at bank and in hand		955,405	1,037,450
		-------------	-------------
		1,043,588	1,127,967

Creditors: amounts falling due within one year	8	2,969,987		3,243,351
		-------------		-------------
Net current liabilities			1,926,399	2,115,384
			-------------	-------------
Total assets less current liabilities			2,204,342	2,024,514

Creditors: amounts falling due after more than one year	9		753,175	821,672

Provisions	–	942
	-------------	-------------
Net assets	1,451,167	1,201,900
	-------------	-------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,451,067	1,201,800
	-------------	-------------
Shareholders funds	1,451,167	1,201,900
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

C&D SOUTH COAST PARTNERSHIP LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 9 December 2025 , and are signed on behalf of the board by:

Mrs D A Chapman

Director

Company registration number: 10799102

C&D SOUTH COAST PARTNERSHIP LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. If the company were unable to continue in operational existence for the foreseeable future, adjustment would have to be made to reduce the balance sheet values of the assets to their recoverable amounts, and to provide for further liabilities that might arise. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Hotel Management System	-	3 years straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Equipment	-	25% reducing balance

No depreciation is provided on freehold properties as it is the company policy to maintain these assets in a continual state of sound repair. The carrying values of the freehold properties are reviewed at each balance sheet date to determine whether there is any indication of impairment. If any such condition exists, the recoverable amount of the asset is estimated in order to determine the extent, if any, of the impairment loss. An impairment loss is recognised whenever the carrying value of an asset exceeds its recoverable amount and impairment losses are recognised in the income statement.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2024: Nil).

5. Intangible assets

	Hotel Management System
	£
Cost
At 1 April 2024 and 31 March 2025	6,840
	-------
Amortisation
At 1 April 2024 and 31 March 2025	6,840
	-------
Carrying amount
At 31 March 2025	–
	-------
At 31 March 2024	–
	-------

6. Tangible assets

	Freehold property	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	4,103,269	194,496	2,707	4,300,472
	-------------	----------	-------	-------------
Depreciation
At 1 April 2024	–	158,309	2,265	160,574
Charge for the year	–	9,047	110	9,157
	-------------	----------	-------	-------------
At 31 March 2025	–	167,356	2,375	169,731
	-------------	----------	-------	-------------
Carrying amount
At 31 March 2025	4,103,269	27,140	332	4,130,741
	-------------	----------	-------	-------------
At 31 March 2024	4,103,269	36,187	442	4,139,898
	-------------	----------	-------	-------------

7. Debtors

	2025	2024
	£	£
Other debtors	66,911	68,296
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	69,005	466,253
Trade creditors	109,302	139,234
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,760,166	1,621,889
Corporation tax	84,353	85,051
Social security and other taxes	36,352	27,250
Other creditors	910,809	903,674
	-------------	-------------
	2,969,987	3,243,351
	-------------	-------------

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

	2025	2024
	£	£
Bank loans and overdrafts	753,175	821,672
	----------	----------

Included within creditors: amounts falling due after more than one year is an amount of £420,282 (2024: £515,138) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The bank loans are repayable by 106 remaining monthly instalments. The interest rate on the bank loans is Base Rate plus 2.8% per annum.

The bank loans of £822,180 (2024: £1,287,925) are secured by Lloyds Bank Plc by way of a fixed and floating charge over all freehold properties held by the company.

10. Related party transactions

The company had taken advantage of the exemption of FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (section 33), not to disclose related party transactions and balances with wholly owned subsidiaries within the group.

11. Controlling party

The Company regards The Fancy Liquor Co Ltd, incorporated in England and Wales, as its immediate and ultimate parent undertaking. The registered office of The Fancy Liquor Co Ltd is 168 Church Road, Hove, East Sussex, BN3 2DL, England.