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Lobster Pot (Newquay) Limited
Annual Report and Unaudited Financial Statements
Year Ended 31 May 2025

Registration number: 05866433

Lobster Pot (Newquay) Limited

Contents

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

Lobster Pot (Newquay) Limited

Company Information

Directors | Mr A Trump Mrs J S Trump

Company secretary | Mrs J S Trump

Registered office | Vici House 2 Mallard Road Sowton Exeter Devon EX2 7LD

Accountants | Francis Clark LLP Centenary House Peninsula Park Rydon Lane Exeter EX2 7XE

Lobster Pot (Newquay) Limited

Balance Sheet

31 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1 | 1
Investment property | 5 | 553,500 | 540,000
Investments | 6 | 2 | 2
|  | 553,503 | 540,003
Current assets |  |  |
Debtors | 7 | 143,055 | 144,343
Cash at bank and in hand |  | 16,217 | 10,934
|  | 159,272 | 155,277
Creditors: Amounts falling due within one year | 8 | (3,612) | (4,392)
Net current assets |  | 155,660 | 150,885
Total assets less current liabilities |  | 709,163 | 690,888
Creditors: Amounts falling due after more than one year | 8 | (233,755) | (233,755)
Provisions for liabilities |  | (15,803) | (13,238)
Net assets |  | 459,605 | 443,895
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Profit and loss account |  | 459,604 | 443,894
Shareholders' funds |  | 459,605 | 443,895

Lobster Pot (Newquay) Limited

Balance Sheet

31 May 2025

For the financial year ending 31 May 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 February 2026 and signed on its behalf by:

.........................................

Mr A Trump

Director

Company Registration Number: 05866433

Lobster Pot (Newquay) Limited

Notes to the Financial Statements

Year Ended 31 May 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:
Vici House
2 Mallard Road
Sowton
Exeter
Devon
EX2 7LD

These financial statements were authorised for issue by the Board on 19 February 2026.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including Section 1A "FRS102" and the Companies Act 2006. There are no material departures from FRS 102.

Basis of preparation

These financial statements have been prepared using the historical cost convention. The financial statements are presented in pounds sterling.

Going concern

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

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

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 corporation 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.

Lobster Pot (Newquay) Limited

Notes to the Financial Statements

Year Ended 31 May 2025

2 | Accounting policies (continued)

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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.

Depreciation

Depreciation is charged 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
Freehold property | 0%

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Director. The Director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Lobster Pot (Newquay) Limited

Notes to the Financial Statements

Year Ended 31 May 2025

2 | Accounting policies (continued)

Financial instruments

Classification
The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

4 | Tangible assets

| Freehold land and buildings £ | Total £
Cost or valuation
At 1 June 2024 | 1 | 1
At 31 May 2025 | 1 | 1
Carrying amount
At 31 May 2025 | 1 | 1
At 31 May 2024 | 1 | 1

Lobster Pot (Newquay) Limited

Notes to the Financial Statements

Year Ended 31 May 2025

5 | Investment properties

| 2025 £
At 1 June 2023 | 540,000
Fair value adjustments | 13,500
At 31 May 2024 | 553,500

The properties were revalued by the director in May 2022.

6 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 2 | 2

Subsidiaries | £
Fair value
At 1 June 2024 | 2
At 31 May 2025 | 2

At the balance sheet date the company holds the entire called up share capital of Oakview Land Limited (company number: 05626728) and Harbour View Newquay Management Company Limited (company number: 06053017). The registered office of these companies is as disclosed in note 1.

7 | Debtors

| 2025 £ | 2024 £
Trade debtors | 312 | 187
Prepayments | 3,429 | 4,571
Other debtors | 139,314 | 139,585
| 143,055 | 144,343

Lobster Pot (Newquay) Limited

Notes to the Financial Statements

Year Ended 31 May 2025

8 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | - | 900
Amounts owed to group undertakings | 2 | 2
Taxation and social security | 680 | 650
Accruals and deferred income | 2,930 | 2,840
| 3,612 | 4,392

Creditors: amounts falling due after more than one year

| 2025 £ | 2024 £
Due after one year |  |
Loans and borrowings | 233,755 | 233,755

The bank loan is secured on the assets of the company by way of a legal mortgage over its investment property.

9 | Related party transactions

Summary of transactions with other related parties

The company provides funding to a company under common control, these amounts are interest free and repayable on demand. At the balance sheet date the amount due from this company was £139,314 (2024: £139,585).

10 | Reserves

Included within the profit and loss account balance is £198,844 (2024: £187,909) of non-distributable reserves. These reserves represent the cumulative unrealised revaluation gains on investment property, net of the provision of deferred taxation thereon.