REGISTERED NUMBER: 04931885 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2025

FOR

PARTHIAN CLIMBING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Powis

REGISTERED OFFICE:

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

REGISTERED NUMBER:

04931885 (England and Wales)

ACCOUNTANTS:

Fairhurst Accountants Ltd

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

2,887,116

3,277,693

Investments

5

1

4

2,887,117

3,277,697

CURRENT ASSETS

Stocks

75,150

275,461

Debtors

6

527,381

559,207

Cash at bank and in hand

85

162,634

602,616

997,302

CREDITORS

Amounts falling due within one year

7

2,658,070

2,179,306

NET CURRENT LIABILITIES

(2,055,454

)

(1,182,004

)

TOTAL ASSETS LESS CURRENT LIABILITIES

831,663

2,095,693

CREDITORS

Amounts falling due after more than one year

8

(1,335,169

)

(1,379,630

)

PROVISIONS FOR LIABILITIES

10

-

(168,422

)

NET (LIABILITIES)/ASSETS

(503,506

)

547,641

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Share premium

230,000

230,000

Retained earnings

(743,506

)

307,641

SHAREHOLDERS' FUNDS

(503,506

)

547,641

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 22 December 2025 and were signed by:

J Powis - Director

1.	STATUTORY INFORMATION

Parthian Climbing 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

After the Balance Sheet date the share capital of the Company was acquired in full by The Font Climbing Limited. The company is dependent on the continuing support, both financial and management, of the parent company, who has confirmed its intention to do so for the coming 12 months.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and services provided, excluding discounts, rebates, Value Added Tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation and impairment. Depreciation is provided at the

following annual rates in order to write off the cost less estimated residual value of each asset over it's estimated useful life.

Freehold property

-

50 years

Property improvements

-

between 10 & 20 years

Plant, machinery & equipment

-

between 3 & 15 years

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 103 (2024 - 121 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 31 March 2024

1,400,881

4,343,369

5,744,250

Additions

10,697

64,947

75,644

At 30 March 2025

1,411,578

4,408,316

5,819,894

DEPRECIATION

At 31 March 2024

512,268

1,954,289

2,466,557

Charge for year

60,314

405,907

466,221

At 30 March 2025

572,582

2,360,196

2,932,778

NET BOOK VALUE

At 30 March 2025

838,996

2,048,120

2,887,116

At 30 March 2024

888,613

2,389,080

3,277,693

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 31 March 2024

4

Disposals

(3

)

At 30 March 2025

1

NET BOOK VALUE

At 30 March 2025

1

At 30 March 2024

4

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

15,389

27,665

Other debtors

511,992

531,542

527,381

559,207

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

358,071

144,841

Hire purchase contracts

129,025

129,395

Trade creditors

346,094

406,848

Amounts owed to related undertakings

552,652

395,000

Taxation and social security

170,133

239,478

Other creditors

1,102,095

863,744

2,658,070

2,179,306

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

405,331

667,880

Hire purchase contracts

229,654

364,066

Other creditors

700,184

347,684

1,335,169

1,379,630

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdraft

145,829

-

Hire Purchase

358,679

493,461

Bank Loans

617,573

812,721

1,122,081

1,306,182

Bank loans and overdrafts are secured by way of a fixed and floating charge over company assets and an unlimited debenture, together with a joint and several guarantee for a principal amount of £400,000 provided by the company Bollin Group Limited, a company with connected shareholders together with a personal guarantee from a director amounting to £50,000.

Hire purchase agreements are secured against the assets concerned.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

-

168,422

Deferred

tax

£

Balance at 31 March 2024

168,422

Credit to Statement of Income and Retained Earnings during year

(168,422

)

Balance at 30 March 2025

-

11.	OTHER FINANCIAL COMMITMENTS

The total financial commitments, guarantees and contingencies which are not included in the Balance Sheet amount to £7,628,380 (2024: £8,241,425), this relates to the leases of company premises and assets.

12.	RELATED PARTY DISCLOSURES

Included in Amounts due to related undertakings is £552,652 (2024: £395,000) due to connected companies. Interest amounting to £52,362 (2024: £37,264) has been charged/accrued in the year.

Included in Other Creditors is £197,684 (2024: £197,684) due to a trust which is connected with a shareholder. Interest amounting to £19,619, (2024 - £17,873) has been charged/accrued in the year.

Included in Other Creditors is £99,238 (2024: £89,348) due to Directors.

13.	POST BALANCE SHEET EVENTS

On 8th December 2025, following the year end, the entire issued share capital of Parthian Climbing Limited was acquired by The Font Climbing Limited.

As part of the transaction, the Company's existing shareholders disposed of their shares, certain shareholder loan balances were repaid or restructured, and new funding arrangements were put in place.

Following completion of the transaction, certain directors and company secretaries resigned and new directors and company secretaries were appointed.

The acquisition and related refinancing constitute non-adjusting post balance sheet events and have therefore not been reflected in the financial position of the Company as at 30 March 2025.

The Company continues to trade as a going concern under its new ownership.