The Winter Sports Training Company Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 9

The Winter Sports Training Company Limited

(Registration number: 09172088)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	22,336	27,431
Current assets
Stocks	6	24,575	224
Debtors	7	390,813	344,393
Cash at bank and in hand		192,185	192,785
		607,573	537,402
Creditors: Amounts falling due within one year	8	(233,209)	(232,280)
Net current assets		374,364	305,122
Total assets less current liabilities		396,700	332,553
Creditors: Amounts falling due after more than one year	8	(6,483)	(16,572)
Provisions for liabilities		(6,734)	(6,858)
Net assets		383,483	309,123
Capital and reserves
Called up share capital		50	50
Capital redemption reserve		50	50
Profit and loss account		383,383	309,023
Shareholders' funds		383,483	309,123

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 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 9 December 2025 and signed on its behalf by:
 

E Dyson Company secretary and director

The Winter Sports Training Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
Heathfield Down Cottage
Modbury
Devon
PL21 0SU

Principal activity

The principal activity of the company is that of the provision of professional ski and snowboard instructor courses.

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.

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Revenue - described as turnover - is the value of work (net of VAT) performed during the year with respect to services. Turnover is recognised in full on the date of departure of the holiday as are all other associated costs.

The Winter Sports Training Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The taxation expense represents the aggregate amount of the current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to the items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Tangible assets

Tangible assets are initially recorded at cost, and are 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 if 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gain accumulated in capital and reserves 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:

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

The Winter Sports Training Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Office equipment	25% straight line

Impairment

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.

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 a revalued amount 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 follows:

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.

Asset class	Amortisation method and rate
Goodwill	10% straight line
Website costs	20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise of cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

The Winter Sports Training Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

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.

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 in finance costs in profit or loss in the period it arises.

Leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

The Winter Sports Training Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	20,000	20,000
At 31 March 2025	20,000	20,000
Amortisation
At 1 April 2024	20,000	20,000
At 31 March 2025	20,000	20,000
Carrying amount
At 31 March 2025	-	-

The Winter Sports Training Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

5	Tangible assets

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	8,914	30,418	39,332
Additions	1,194	4,752	5,946
Disposals	(2,610)	(328)	(2,938)
At 31 March 2025	7,498	34,842	42,340
Depreciation
At 1 April 2024	2,763	9,139	11,902
Charge for the year	1,260	8,586	9,846
Eliminated on disposal	(1,563)	(181)	(1,744)
At 31 March 2025	2,460	17,544	20,004
Carrying amount
At 31 March 2025	5,038	17,298	22,336
At 31 March 2024	6,152	21,279	27,431

6

Stocks

	2025 £	2024 £
Raw materials and consumables	18,566	-
Other inventories	6,009	224
	24,575	224

7

Debtors

	Note	2025 £	2024 £
Trade debtors		160,043	169,075
Amounts owed by related parties	12	193,102	158,102
Other debtors		37,668	17,216
		390,813	344,393

The Winter Sports Training Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

8

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	10,000	10,000
Trade creditors		-	6,377
Taxation and social security		30,285	1,852
Accruals and deferred income		192,177	194,640
Other creditors		747	19,411
		233,209	232,280

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	6,483	16,572

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	6,483	16,572

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,000	10,000

11	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

The Winter Sports Training Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

11	Obligations under leases and hire purchase contracts (continued)

	2025 £	2024 £
Not later than one year	67,430	61,092
Later than one year and not later than five years	8,091	81,913
	75,521	143,005

12	Related party transactions

Transactions with directors

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Directors	(18,122)	(2,485)	19,861	(746)

2024	At 1 April 2023 £	Advances to director £	Repayments by director £	At 31 March 2024 £
Directors	(20,788)	(4,947)	7,613	(18,122)

Summary of transactions with parent

Within other debtors is a balance of £193,102 (2024: £158,102) owed by Remedy Adventures Limited, the ultimate controlling party.

13	Controlling interest

The parent company is Remedy Adventures Limited, a company limited in England, which owns 100% of the issued share capital of this company. Its registered office is Heathfield Down Cottage, Modbury, Devon, PL21 0SU. The ultimate controlling parties are Mr and Mrs Dyson.