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Registration number: 07017231

The Sydney Arms (Chelsea) Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

The Sydney Arms (Chelsea) Limited

Contents

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

The Sydney Arms (Chelsea) Limited

Company Information

Directors | James Netherthorpe Richard Nysingh

Registered office | 70 Sydney Street London SW3 6NJ

Accountants | Carbon Accountancy Limited Chartered Accountants80-83 Long Lane London EC1A 9ET

The Sydney Arms (Chelsea) Limited

(Registration number: 07017231)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 16,922 | 24,208
Current assets |  |  |
Stocks | 6 | 13,054 | 13,894
Debtors | 7 | 88,927 | 98,361
Cash at bank and in hand |  | 220,873 | 81,556
|  | 322,854 | 193,811
Creditors: Amounts falling due within one year | 8 | (131,211) | (128,915)
Net current assets |  | 191,643 | 64,896
Total assets less current liabilities |  | 208,565 | 89,104
Provisions for liabilities |  | (4,230) | (6,052)
Net assets |  | 204,335 | 83,052
Capital and reserves |  |  |
Called up share capital | 9 | 100 | 100
Retained earnings |  | 204,235 | 82,952
Shareholders' funds |  | 204,335 | 83,052

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 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 12 August 2026 and signed on its behalf by:

......................................... Richard Nysingh Director

The Sydney Arms (Chelsea) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
70 Sydney Street
London
SW3 6NJ

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.

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.

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.

The Sydney Arms (Chelsea) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

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
Other tangibles | 20% Straight line basis
Plant and machinery | 20% Straight line basis
Fixture and fittings | 20% Straight line basis
Office equipment | 20% Straight line basis

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.

Trade 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.

The Sydney Arms (Chelsea) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Trade 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.

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.

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 directors) during the year, was 18 (2024 - 17).

4 | Profit/loss before tax

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 7,332 | 7,309

The Sydney Arms (Chelsea) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

5 | Tangible assets

| Fixtures and fittings £ | Plant and machinery £ | Office equipment £ | Total £
Cost or valuation
At 1 January 2025 | 111,053 | 41,312 | 7,914 | 160,279
Additions | - | 160 | - | 160
Disposals | (360) | - | - | (360)
At 31 December 2025 | 110,693 | 41,472 | 7,914 | 160,079
Depreciation
At 1 January 2025 | 103,206 | 30,362 | 2,503 | 136,071
Charge for the year | 2,720 | 3,079 | 1,533 | 7,332
Eliminated on disposal | (246) | - | - | (246)
At 31 December 2025 | 105,680 | 33,441 | 4,036 | 143,157
Carrying amount
At 31 December 2025 | 5,013 | 8,031 | 3,878 | 16,922
At 31 December 2024 | 7,847 | 10,950 | 5,411 | 24,208

6 | Stocks

| 2025 £ | 2024 £
Finished goods and goods for resale | 12,194 | 13,390
Other inventories | 860 | 504
| 13,054 | 13,894

The Sydney Arms (Chelsea) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

7 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 5,447 | 10,285
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 10 | 48,401 | 57,001
Prepayments |  | 35,079 | 31,075
|  | 88,927 | 98,361

8 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 46,808 | 50,972
Taxation and social security | 45,255 | 35,110
Accruals and deferred income | 17,994 | 17,256
Other creditors | 21,154 | 25,577
| 131,211 | 128,915

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary Shares of £1 each | 100 | 100 | 100 | 100

The Sydney Arms (Chelsea) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

10 | Related party transactions

At the balance sheet date amount due (to)/from related parties were as follows:
The Thoroughbred Pub Limited: £48,401 (2024:£57,001). The loan is interest free and repayable on demand. A management fee of £8,500 ( 2024:£8,000) was charged from the parent company during the year.
During the year the company incurred accountancy fees of £10,800 from Zwolle Limited, a company in which a director has significant control. At the year end, the balance outstanding was £900 (2024: £900) and is included within trade creditors.
During the year £10,770 owed from Chelsea Thoroughbreds Ltd was waived off.

11 | Parent and ultimate parent undertaking

The company's immediate parent is The Thoroughbred Pub Company Limited, incorporated in England and Wales.