Refedd Limited

trading as EBCS Leisure

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

Refedd Limited

trading as EBCS Leisure

(Registration number: 04488226)
Statement of Financial Position as at 31 August 2025

	Note	31 August 2025 £	31 August 2024 £
Fixed assets
Intangible assets	4	350,382	350,382
Tangible assets	5	104,850	99,653
		455,232	450,035
Current assets
Stocks		320,323	306,969
Debtors	6	1,476,847	1,211,200
Cash at bank and in hand		116,097	200,277
		1,913,267	1,718,446
Creditors: Amounts falling due within one year	7	(1,289,332)	(1,021,143)
Net current assets		623,935	697,303
Total assets less current liabilities		1,079,167	1,147,338
Creditors: Amounts falling due after more than one year	7	(45,834)	(91,667)
Provisions for liabilities		(71,479)	(70,864)
Net assets		961,854	984,807
Capital and reserves
Called up share capital		22	25
Capital redemption reserve		3	-
Profit and loss account		961,829	984,782
Shareholders' funds		961,854	984,807

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Refedd Limited

trading as EBCS Leisure

(Registration number: 04488226)
Statement of Financial Position as at 31 August 2025 (continued)

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 18 December 2025 and signed on its behalf by:
 

Mr A Cross Director

Refedd Limited

trading as EBCS Leisure

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

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is retail of holiday homes

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.

Refedd Limited

trading as EBCS Leisure

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

2	Accounting policies (continued)

Going concern

The financial statements have been prepared on a going concern basis.

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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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.

Refedd Limited

trading as EBCS Leisure

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

2	Accounting policies (continued)

Goodwill

The company purchased goodwill on the 1 November 2002. No amortisation has been charged on goodwill as the directors are of the opinion that the value of goodwill will not reduce in the foreseeable future. This is a departure from Financial Reporting 102 section A which requires all intangible assets to be amortised over their economic useful life, which should not exceed 10 years.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance
Fittings fixtures and equipment	25% reducing balance and straight line
Motor vehicles	25% reducing balance

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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Refedd Limited

trading as EBCS Leisure

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

2	Accounting policies (continued)

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model.

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.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Refedd Limited

trading as EBCS Leisure

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 7).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 September 2024	350,382	350,382
At 31 August 2025	350,382	350,382
Amortisation
Carrying amount
At 31 August 2025	350,382	350,382
At 31 August 2024	350,382	350,382

Refedd Limited

trading as EBCS Leisure

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

5	Tangible assets

	Short leasehold land and buildings £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2024	3,500	30,428	66,348	178,247	278,523
Additions	-	509	3,792	45,343	49,644
Disposals	-	-	-	(28,295)	(28,295)
At 31 August 2025	3,500	30,937	70,140	195,295	299,872
Depreciation
At 1 September 2024	3,500	26,672	60,885	87,813	178,870
Charge for the year	-	1,066	1,388	32,090	34,544
Eliminated on disposal	-	-	-	(18,392)	(18,392)
At 31 August 2025	3,500	27,738	62,273	101,511	195,022
Carrying amount
At 31 August 2025	-	3,199	7,867	93,784	104,850
At 31 August 2024	-	3,756	5,463	90,434	99,653

6

Debtors

	Note	31 August 2025 £	31 August 2024 £
Trade debtors		649,438	383,115
Other debtors		643,147	641,746
Prepayments		17,497	19,574
Income tax asset		166,765	166,765
		1,476,847	1,211,200

Refedd Limited

trading as EBCS Leisure

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

7

Creditors

Creditors: amounts falling due within one year

	Note	31 August 2025 £	31 August 2024 £
Due within one year
Loans and borrowings		50,000	50,000
Trade creditors		879,167	529,652
Taxation and social security		9,180	29,993
Accruals and deferred income		340,297	398,629
Other creditors		10,688	12,869
		1,289,332	1,021,143

Included above is a bank loan of £50,000 (2024 - £50,000) that is secured by a debenture.

Creditors: amounts falling due after more than one year

	Note	31 August 2025 £	31 August 2024 £
Due after one year
Loans and borrowings		45,834	91,667