Company No: 15219542 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.12.2025		31.12.2024
		£		£
Fixed assets
Intangible assets	3	762,729		859,528
Tangible assets	4	3,257,074		3,179,791
		4,019,803		4,039,319
Current assets
Stocks	5	5,985		5,020
Debtors	6	80,518		160,572
Cash at bank and in hand		57,483		21,480
		143,986		187,072
Creditors: amounts falling due within one year	7	( 4,522,354)		( 4,511,111)
Net current liabilities		(4,378,368)		(4,324,039)
Total assets less current liabilities		(358,565)		(284,720)
Provision for liabilities	8	57,538		54,576
Net liabilities		( 301,027)		( 230,144)
Capital and reserves
Called-up share capital	10	200		200
Profit and loss account		( 301,227 )		( 230,344 )
Total shareholders' deficit		( 301,027)		( 230,144)

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 The Park Cornwall Limited (registered number: 15219542) were approved and authorised for issue by the Board of Directors on 15 July 2026. They were signed on its behalf by:

S M Dibb Director

1. Accounting policies

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

General information and basis of accounting

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 The Park, Mawgan Porth, Newquay, TR8 4BD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 note that the business has net liabilities of £301,027. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met 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. 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	10 years straight line
Other intangible assets	3 - 10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed 10 years.

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 over its expected useful life, as follows:

Land and buildings	50 years straight line
Vehicles	4 years straight line
Fixtures and fittings	15 years straight line
Computer equipment	3 years straight line
Other property, plant and equipment	10 years straight line

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.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	Year ended 31.12.2025		Period from 18.10.2023 to 31.12.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	25		29

3. Intangible assets

	Goodwill		Other intangible assets		Total
	£		£		£
Cost
At 01 January 2025	911,995		51,799		963,794
At 31 December 2025	911,995		51,799		963,794
Accumulated amortisation
At 01 January 2025	98,799		5,467		104,266
Charge for the financial year	91,200		5,599		96,799
At 31 December 2025	189,999		11,066		201,065
Net book value
At 31 December 2025	721,996		40,733		762,729
At 31 December 2024	813,196		46,332		859,528

4. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Computer equipment		Other property, plant and equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2025	2,860,029		6,149		185,920		1,719		232,948		3,286,765
Additions	53,562		55,607		76,947		0		14,445		200,561
Disposals	0		( 5,098)		0		0		0		( 5,098)
At 31 December 2025	2,913,591		56,658		262,867		1,719		247,393		3,482,228
Accumulated depreciation
At 01 January 2025	57,646		1,793		28,223		668		18,644		106,974
Charge for the financial year	54,464		7,341		33,709		573		24,286		120,373
Disposals	0		( 2,193)		0		0		0		( 2,193)
At 31 December 2025	112,110		6,941		61,932		1,241		42,930		225,154
Net book value
At 31 December 2025	2,801,481		49,717		200,935		478		204,463		3,257,074
At 31 December 2024	2,802,383		4,356		157,697		1,051		214,304		3,179,791

5. Stocks

	31.12.2025		31.12.2024
	£		£
Stocks	5,985		5,020

6. Debtors

	31.12.2025		31.12.2024
	£		£
Trade debtors	1,036		0
Prepayments	69,714		160,572
Other debtors	9,768		0
	80,518		160,572

7. Creditors: amounts falling due within one year

	31.12.2025		31.12.2024
	£		£
Trade creditors	68,416		60,215
Amounts owed to directors	4,225,800		4,225,800
Accruals and deferred income	203,708		198,146
Other taxation and social security	20,146		25,048
Other creditors	4,284		1,902
	4,522,354		4,511,111

8. Provision for liabilities

	31.12.2025		31.12.2024
	£		£
Deferred tax	( 57,538)		( 54,576)

9. Deferred tax

	31.12.2025		31.12.2024
	£		£
At the beginning of financial year/period	54,576		0
Credited to the Statement of Income and Retained Earnings	2,962		54,576
At the end of financial year/period	57,538		54,576

10. Called-up share capital

	31.12.2025		31.12.2024
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each	200		200