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Registration number: 13383720

Abertawe Climbing Ltd
trading as Flashpoint Swansea
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Abertawe Climbing Ltd
trading as Flashpoint Swansea

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 8

Abertawe Climbing Ltd
trading as Flashpoint Swansea

Company Information

Directors | N Whitcomb T O Gape J A Griffiths

Registered office | 40 Winterstoke Road Bristol BS3 2NW

Accountants | CBSL Accountants Limited Chartered Accountants Rowan House North 1 The Professional Quarter Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

Abertawe Climbing Ltd
trading as Flashpoint Swansea

(Registration number: 13383720)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1,107,259 | 1,187,728
Current assets |  |  |
Debtors | 5 | 37,132 | 90,501
Cash at bank and in hand |  | 42,077 | 34,144
|  | 79,209 | 124,645
Creditors: Amounts falling due within one year | 6 | (80,178) | (448,521)
Net current liabilities |  | (969) | (323,876)
Total assets less current liabilities |  | 1,106,290 | 863,852
Creditors: Amounts falling due after more than one year | 6 | (1,626,312) | (1,207,063)
Net liabilities |  | (520,022) | (343,211)
Capital and reserves |  |  |
Called up share capital | 7 | 10 | 10
Share premium reserve |  | 200,000 | 200,000
Retained earnings |  | (720,032) | (543,221)
Shareholders' deficit |  | (520,022) | (343,211)

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.

Abertawe Climbing Ltd
trading as Flashpoint Swansea

(Registration number: 13383720)
Balance Sheet as at 31 March 2025

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Profit and Loss Account.

Approved and authorised by the Board on 30 January 2026 and signed on its behalf by:

N Whitcomb Director | T O Gape Director |

Abertawe Climbing Ltd
trading as Flashpoint Swansea

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:
40 Winterstoke Road
Bristol
BS3 2NW

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.

Going concern

The financial statements have been prepared on a going concern basis which assumes the continued support of the directors and parent company meeting all liabilities as they fall due.

Revenue recognition

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 sales/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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

Abertawe Climbing Ltd
trading as Flashpoint Swansea

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

Depreciation

Depreciation is charged once the assets are in use in the business, so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Leasehold improvements | Over the life of the lease
Fittings and equipment | 10% straight line

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 profit and loss account 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2024 - 22).

Abertawe Climbing Ltd
trading as Flashpoint Swansea

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

4 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Other tangible assets £ | Total £
Cost or valuation
At 1 April 2024 | 665,667 | 72,785 | 676,871 | 1,415,323
Additions | 33,856 | 2,624 | 9,897 | 46,377
At 31 March 2025 | 699,523 | 75,409 | 686,768 | 1,461,700
Depreciation
At 1 April 2024 | 77,919 | 25,900 | 123,776 | 227,595
Charge for the year | 43,630 | 14,683 | 68,533 | 126,846
At 31 March 2025 | 121,549 | 40,583 | 192,309 | 354,441
Carrying amount
At 31 March 2025 | 577,974 | 34,826 | 494,459 | 1,107,259
At 31 March 2024 | 587,748 | 46,885 | 553,095 | 1,187,728

Included within the net book value of land and buildings above is £577,974 (2024 - £587,748) in respect of long leasehold land and buildings.

Abertawe Climbing Ltd
trading as Flashpoint Swansea

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

5 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 18,433 | 26,347
Amounts owed by related parties | 9 | - | 19,505
Prepayments |  | 18,689 | 44,648
Other debtors |  | 10 | 1
|  | 37,132 | 90,501

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | - | 89,847
Trade creditors |  | 25,680 | 14,892
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 9 | - | 66,759
Taxation and social security |  | 28,947 | 18,818
Accruals and deferred income |  | 2,638 | 37,916
Other creditors |  | 22,913 | 220,289
|  | 80,178 | 448,521

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 1,626,312 | 1,207,063

Abertawe Climbing Ltd
trading as Flashpoint Swansea

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

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
A Ordinary of £1 each | 5 | 5 | 5 | 5
B Ordinary of £1 each | 4 | 4 | 4 | 4
C Ordinary of £1 each | 1 | 1 | 1 | 1
| 10 | 10 | 10 | 10

8 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 1,626,312 | 1,207,063

Current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | - | 89,847

9 | Related party transactions

At 31 March 2025 there was a balance of £1,626,312 due to the parent company, which is included in creditors falling due over one year.

10 | Parent and ultimate parent undertaking

The company's immediate parent is Flashpoint Climbing Group Limited, incorporated in England & Wales.