Company No: 15957746 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025
		£
Fixed assets
Tangible assets	3	2,692
		2,692
Current assets
Stocks	4	100
Debtors	5	1,382
Cash at bank and in hand		76,859
		78,341
Creditors: amounts falling due within one year	6	( 4,065)
Net current assets		74,276
Total assets less current liabilities		76,968
Net assets		76,968
Capital and reserves
Called-up share capital		0
Profit and loss account		76,968
Total shareholders' funds		76,968

For the financial year ending 31 December 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Devon Tennis Ltd (registered number: 15957746) were approved and authorised for issue by the Board of Directors on 29 May 2026. They were signed on its behalf by:

Mr G Goodison Director

Mr R Armstrong Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year, unless otherwise stated.

General information and basis of accounting

Devon Tennis Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is South Devon Tennis Centre Erme Playing Fields, Ermington Road, Ivybridge, Devon, PL21 9ES, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Office equipment

20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Public Benefit Entity

Devon Tennis Limited is a public benefit entity as defined by Section 34 of FRS 102. The company has been established to promote, encourage and develop tennis and related activities for the benefit of the public in Devon. Any surpluses generated are reinvested in furthering the company’s objectives rather than distributed to members or shareholders.

Transfer of Business from Devon County Lawn Tennis Association

During the year, the business and activities of Devon County Lawn Tennis Association were transferred to Devon Tennis Limited. The transfer included the assets, liabilities and ongoing operations associated with the delivery of tennis activities within the county.

The net value of the assets transferred amounted to £77,632, which has been recognised as non-operating exceptional income in the Statement of Income and Expenditure for the year.

The transaction has been accounted for as a gift of a business, in accordance with FRS 102. As the transfer was not conducted on a commercial basis and no consideration was paid, the assets received were recognised at their fair value at the date of transfer, with the corresponding credit recognised as income in the period.

2. Employees

	2025
	Number
Monthly average number of persons employed by the Company during the year, including directors	2

3. Tangible assets

	Office equipment		Total
	£		£
Cost
At 01 January 2025	0		0
Additions	3,010		3,010
Transfers	6,200		6,200
At 31 December 2025	9,210		9,210
Accumulated depreciation
At 01 January 2025	0		0
Charge for the financial year	673		673
Transfers	5,845		5,845
At 31 December 2025	6,518		6,518
Net book value
At 31 December 2025	2,692		2,692

4. Stocks

	2025
	£
Stocks	100

5. Debtors

	2025
	£
Other debtors	1,382

6. Creditors: amounts falling due within one year

	2025
	£
Trade creditors	2,173
Accruals	825
Taxation and social security	( 16)
Other creditors	1,083
	4,065