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Registration number: 04722974

Pirates on the Beach Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 30 November 2025

Pirates on the Beach Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Financial Statements | 4 to 11
Related party transactions | 11

Pirates on the Beach Limited

Company Information

Director | Mr E W Davies

Company secretary | Mrs N Parsells

Registered office | The Pirate Amroth Narberth Pembrokeshire SA67 8NF

Pirates on the Beach Limited

(Registration number: 04722974)
Balance Sheet as at 30 November 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 30,335 | 37,627
Current assets |  |  |
Stocks | 7 | 29,043 | 6,043
Debtors | 8 | 4,472 | 9,368
Cash at bank and in hand |  | 174,254 | 207,137
|  | 207,769 | 222,548
Creditors: Amounts falling due within one year | 9 | (24,649) | (22,470)
Net current assets |  | 183,120 | 200,078
Total assets less current liabilities |  | 213,455 | 237,705
Provisions for liabilities |  | (6,817) | (8,472)
Net assets |  | 206,638 | 229,233
Capital and reserves |  |  |
Called up share capital |  | 2 | 2
Profit and loss account |  | 206,636 | 229,231
Total equity |  | 206,638 | 229,233

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 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 and the option not to file the Profit and Loss Account has been taken.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Pirates on the Beach Limited

(Registration number: 04722974)
Balance Sheet as at 30 November 2025

Approved and authorised by the director on 27 March 2026

......................................... Mr E W Davies Director |  |

Pirates on the Beach Limited

Notes to the Financial Statements for the Year Ended 30 November 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:
The Pirate
Amroth
Narberth
Pembrokeshire
SA67 8NF

These financial statements were authorised for issue by the director on 27 March 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 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.

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.

Pirates on the Beach Limited

Notes to the Financial Statements for the Year Ended 30 November 2025

Government grants

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

Tax

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.

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 | 10% Straight line
Plant and machinery | 15-33% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Pirates on the Beach Limited

Notes to the Financial Statements for the Year Ended 30 November 2025

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:

Asset class | Amortisation method and rate
Goodwill | Amortised evenly over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Pirates on the Beach Limited

Notes to the Financial Statements for the Year Ended 30 November 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 the director) during the year, was 5 (2024 - 10).

Pirates on the Beach Limited

Notes to the Financial Statements for the Year Ended 30 November 2025

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 December 2024 | 10,000 | 10,000
At 30 November 2025 | 10,000 | 10,000
Amortisation
At 1 December 2024 | 10,000 | 10,000
At 30 November 2025 | 10,000 | 10,000
Carrying amount
At 30 November 2025 | - | -

Revalued assets for the year ended 30 November 2024

5 | Tangible assets

| Land and buildings £ | Plant and machinery £ | Office equipment £ | Motor vehicles £
Cost or valuation
At 1 December 2024 | 6,767 | 157,034 | 1,370 | 17,441
Additions | - | 519 | - | -
At 30 November 2025 | 6,767 | 157,553 | 1,370 | 17,441
Depreciation
At 1 December 2024 | 6,092 | 134,413 | 1,210 | 3,270
Charge for the year | 675 | 3,466 | 127 | 3,543
At 30 November 2025 | 6,767 | 137,879 | 1,337 | 6,813
Carrying amount
At 30 November 2025 | - | 19,674 | 33 | 10,628
At 30 November 2024 | 675 | 22,621 | 160 | 14,171

Pirates on the Beach Limited

Notes to the Financial Statements for the Year Ended 30 November 2025

| Total £
Cost or valuation
At 1 December 2024 | 182,612
Additions | 519
At 30 November 2025 | 183,131
Depreciation
At 1 December 2024 | 144,985
Charge for the year | 7,811
At 30 November 2025 | 152,796
Carrying amount
At 30 November 2025 | 30,335
At 30 November 2024 | 37,627

Included within the net book value of land and buildings above is £Nil (2024 - £675) in respect of freehold land and buildings.

6 | Investment properties

| 2025 £

There has been no valuation of investment property by an independent valuer.

7 | Stocks

| 2025 £ | 2024 £
Other inventories | 29,043 | 6,043

8 | Debtors

| 2025 £ | 2024 £
Trade debtors | 453 | 634
Prepayments | 1,427 | 1,856
Other debtors | 2,592 | 6,878
| 4,472 | 9,368

Pirates on the Beach Limited

Notes to the Financial Statements for the Year Ended 30 November 2025

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Bank loans and overdrafts | 11 | 277 | 50
Taxation and social security |  | 1,003 | 7,653
Other related parties | 12 | 15,677 | -
Outstanding defined contribution pension costs |  | - | 54
Corporation tax liability |  | - | 5,570
Other creditors |  | 7,692 | 9,143
|  | 24,649 | 22,470

10 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 2 | 2 | 2 | 2

11 | Loans and borrowings

| 2025 £ | 2024 £
Current loans and borrowings
Bank overdrafts | 277 | 50

Pirates on the Beach Limited

Notes to the Financial Statements for the Year Ended 30 November 2025

12 | Related party transactions

Transactions with directors

2025 | At 1 December 2024 £ | Repayments by director £ | At 30 November 2025 £
The loan to the directors is interest free and repayable on demand | (6,061) | 21,739 | 15,677

2024 | At 1 December 2023 £ | Advances to director £ | Repayments by director £ | At 30 November 2024 £
The loan to the directors is interest free and repayable on demand | 8,670 | (31,456) | 16,724 | (6,061)