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Registration number: 04137790

Tropic Breeze Limited
Filleted Financial Statements
for the Year Ended 31 March 2026

Tropic Breeze Limited

Contents

Statement of Financial Position | 1
Notes to the Financial Statements | 2 to 8

Tropic Breeze Limited

(Registration number: 04137790)
Statement of Financial Position as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Intangible assets | 4 | 32,740 | 14,393
Tangible assets | 5 | 519,918 | 536,377
|  | 552,658 | 550,770
Current assets |  |  |
Debtors | 6 | 830,125 | 640,845
Cash at bank and in hand |  | 1,599,770 | 1,524,355
|  | 2,429,895 | 2,165,200
Creditors: Amounts falling due within one year | 7 | (1,666,659) | (1,487,385)
Net current assets |  | 763,236 | 677,815
Total assets less current liabilities |  | 1,315,894 | 1,228,585
Provisions for liabilities |  | (13,256) | (21,746)
Net assets |  | 1,302,638 | 1,206,839
Capital and reserves |  |  |
Called up share capital |  | 60,002 | 60,002
Revaluation reserve |  | 168,527 | 193,845
Profit and loss account |  | 1,074,109 | 952,992
Shareholders' funds |  | 1,302,638 | 1,206,839

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 19 May 2026 and signed on its behalf by:

M Fitch Director

Tropic Breeze Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

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 Old Coach House
Yealmbury Hill
Yealmpton
Plymouth
Devon
PL8 2JH

Principal activity

The principal activity of the company is that of travel agents specialising in luxury holidays.

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.

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.

Revenue recognition

Revenue - described as turnover - is the value of work (net of vat) performed during the year with respects to services. Turnover is recognised in full on the date of departure of the holiday as are all other associated costs.

Tropic Breeze Limited

Notes to the Financial Statements for the Year Ended 31 March 2026 (continued)

2 | Accounting policies (continued)

Tax

The taxation expense represents the aggregate amount of the current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to the items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date if revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gain accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

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

Asset class | Depreciation method and rate
Freehold buildings | 2% straight line
Land | No depreciation
Fixtures & fittings | 25% reducing balance
Equipment | 33% straight line
Motor vehicles | 25% reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect new estimates.

Tropic Breeze Limited

Notes to the Financial Statements for the Year Ended 31 March 2026 (continued)

2 | Accounting policies (continued)

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:

Asset class | Amortisation method and rate
Website development | 33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise of cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.

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.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension obligation

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.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

Defined benefit pension obligation

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Tropic Breeze Limited

Notes to the Financial Statements for the Year Ended 31 March 2026 (continued)

2 | Accounting policies (continued)

Derivative financial instruments and hedging

Derivatives
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.
A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.
Changes in the fair value of derivatives that are designed and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability/ that are attributable to the hedged risk.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2025 - 11).

Tropic Breeze Limited

Notes to the Financial Statements for the Year Ended 31 March 2026 (continued)

4 | Intangible assets

| Website development £ | Total £
Cost or valuation
At 1 April 2025 | 21,590 | 21,590
Additions | 28,921 | 28,921
At 31 March 2026 | 50,511 | 50,511
Amortisation
At 1 April 2025 | 7,197 | 7,197
Amortisation charge | 10,574 | 10,574
At 31 March 2026 | 17,771 | 17,771
Carrying amount
At 31 March 2026 | 32,740 | 32,740
At 31 March 2025 | 14,393 | 14,393

5 | Tangible assets

| Freehold buildings £ | Fixtures, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2025 | 500,000 | 90,541 | 55,488 | 646,029
Additions | - | 587 | - | 587
At 31 March 2026 | 500,000 | 91,128 | 55,488 | 646,616
Depreciation
At 1 April 2025 | - | 80,798 | 28,853 | 109,651
Charge for the year | 6,666 | 3,722 | 6,659 | 17,047
At 31 March 2026 | 6,666 | 84,520 | 35,512 | 126,698
Carrying amount
At 31 March 2026 | 493,334 | 6,608 | 19,976 | 519,918
At 31 March 2025 | 500,000 | 9,743 | 26,634 | 536,377

Tropic Breeze Limited

Notes to the Financial Statements for the Year Ended 31 March 2026 (continued)

5 | Tangible assets (continued)

Revaluation

The fair value of the company's Freehold and leasehold properties was revalued on 28 March 2025 by an independent valuer. The name and qualification of the independent valuer was Luscombe Maye, a qualified RICS Registered Valuer who revalued the property to £500,000 using market value.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £317,915 (2025 - £292,798).

6 | Debtors

| Note | 2026 £ | 2025 £
Trade debtors |  | 775,845 | 609,428
Amounts owed by related parties | 8 | 13,559 | 8,750
Other debtors |  | 21,232 | 5,819
Prepayments |  | 19,489 | 16,848
|  | 830,125 | 640,845

7 | Creditors

Creditors: amounts falling due within one year

| 2026 £ | 2025 £
Trade creditors | 1,369 | 3,984
Taxation and social security | 38,043 | 57,685
Accruals and deferred income | 1,625,634 | 1,387,552
Other creditors | 1,613 | 38,164
| 1,666,659 | 1,487,385

Tropic Breeze Limited

Notes to the Financial Statements for the Year Ended 31 March 2026 (continued)

8 | Related party transactions

Summary of transactions with parent

During the year, the company paid for expenses totalling £6,097 (2025: £9,796) on behalf of MJK Breeze Properties Limited, parent company and received payments totalling £1,288 (2025: 1,093). At the year end the company was owed £13,559 (2025: £8,750) by MJK Breeze Properties Limited.
Tropic Breeze Limited is a wholly-owned subsidiary of MJK Breeze Properties Limited, registered office The Old Coach House Yealmbury Hill, Yealmpton, Plymouth, United Kingdom, PL8 2JH.

9 | Financial instruments

Financial assets measured at fair value

Derivatives
At the year end the fair value of the derivative was an asset of £16,565.10 (2025 liability - £35,423 and the change in value included in profit or loss is £51,988.10

10 | Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 19 May 2026 was Veronique Croney FCA, who signed for and on behalf of Westcotts (SW) LLP.

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