Surest Limited Company accounts

COMPANY REGISTRATION NUMBER: 03335622

Surest Limited

Unaudited Financial Statements

31 March 2026

Surest Limited

Financial Statements

Year ended 31 March 2026

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	3

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	4

Statement of comprehensive income	5

Statement of financial position	6

Statement of changes in equity	7

Statement of cash flows	8

Notes to the financial statements	9

Surest Limited

Officers and Professional Advisers

The board of directors	Mr M J Wilson
	Ms T J Physick

Company secretary	Ms T J Physick

Registered office	Bridge House
	St. Clement Street
	Truro
	Cornwall
	TR1 1ER

Accountants	Wills Bingley Partners LLP
	Chartered Accountants
	St Denys House
	22 East Hill
	St Austell
	Cornwall
	PL25 4TR

Surest Limited

Strategic Report

Year ended 31 March 2026

The directors present their strategic report for the year ended 31 March 2026. The Company is pleased to report that is has maintained a strong profit margin in 2026 of 19.5% despite more challenging trading conditions with pressures from the rising cost of living in the UK, and travel anxiety prompted by events in the Middle East. In 2026 the company has invested in new service offerings and commercial relationships that it looks forward to building along with its core travel services in 2026/27. The key financial details for 2025/26 are as follows:- 2026 2025 2024 2023 Turnover 5,683,004 6,092,155 5,759,945 7,346,850 Turnover growth (6.7)% 5.8% (21.6)% 3.7% Gross profit margin 19.5% 19.5% 17.6% 18.1% Profit/(loss) before 255,792 503,503 366,231 628,498 tax and portfolio revaluations The main risks to the Company's financial objectives for 2026/27 are those which face the UK tourism industry as a whole. As in previous years the longer-term impact of Brexit, future pandemic, terror attacks in the UK, political instability, domestically and globally, industrial unrest and extreme weather can all impact UK travel and tourism. The Company, however, has a structure which is flexible to sudden changes in the level of income and maintains sufficient reserves to enable it to respond appropriately without placing undue financial pressure on the Company.

This report was approved by the board of directors on 11 August 2026 and signed on behalf of the board by:

Mr M J Wilson

Director

Registered office:

Bridge House

St. Clement Street

Truro

Cornwall

TR1 1ER

Surest Limited

Directors' Report

Year ended 31 March 2026

The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2026 .

Directors

The directors who served the company during the year were as follows:

Mr M J Wilson
Ms T J Physick

Dividends

Particulars of recommended dividends are detailed in note 12 to the financial statements.

Disclosure of information in the strategic report

The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report the information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

This report was approved by the board of directors on 11 August 2026 and signed on behalf of the board by:

Mr M J Wilson

Director

Registered office:

Bridge House

St. Clement Street

Truro

Cornwall

TR1 1ER

Surest Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Surest Limited

Year ended 31 March 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Surest Limited for the year ended 31 March 2026, which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Surest Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Surest Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Surest Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Surest Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Surest Limited. You consider that Surest Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Surest Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wills Bingley Partners LLP Chartered Accountants

St Denys House 22 East Hill St Austell Cornwall PL25 4TR

11 August 2026

Surest Limited

Statement of Comprehensive Income

Year ended 31 March 2026

		2026	2025
Note		£	£
Turnover	4	5,683,004	6,092,155

Cost of sales	( 4,573,461)	( 4,903,087)
	------------	------------
Gross profit	1,109,543	1,189,068

Administrative expenses		( 963,080)	( 828,282)
		------------	------------
Operating profit	5	146,463	360,786

Income from other fixed asset investments	8	–	( 433)
Other interest receivable and similar income	9	109,328	143,150
Amounts written back to investments	10	–	31,921
		------------	------------
Profit before taxation		255,791	535,424

Tax on profit	11	( 65,268)	( 91,977)
		---------	---------
Profit for the financial year and total comprehensive income		190,523	443,447
		---------	---------

All the activities of the company are from continuing operations.

Surest Limited

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	14		13,205	18,485

Current assets

Debtors	15	563,888	427,597
Cash at bank and in hand		3,334,257	3,547,896
		------------	------------
		3,898,145	3,975,493

Creditors: amounts falling due within one year	16	1,583,310		1,649,313
		------------		------------
Net current assets			2,314,835	2,326,180
			------------	------------
Total assets less current liabilities			2,328,040	2,344,665

Provisions	17	81,320	82,220
		------------	------------
Net assets		2,246,720	2,262,445
		------------	------------

Capital and reserves

Called up share capital	19	30,100	30,000
Capital redemption reserve	20	430	430
Retained earnings	20	2,216,190	2,232,015
		------------	------------
Shareholders funds		2,246,720	2,262,445
		------------	------------

For the year ending 31 March 2026 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of directors and authorised for issue on 11 August 2026 , and are signed on behalf of the board by:

Mr M J Wilson	Ms T J Physick
Director	Director

Company registration number: 03335622

Surest Limited

Statement of Changes in Equity

Year ended 31 March 2026

		Called up share capital	Capital redemption reserve	Retained earnings	Total
		£	£	£	£
At 1 April 2024		30,000	430	2,023,481	2,053,911

Profit for the year				443,447	443,447
		--------	----	------------	------------
Total comprehensive income for the year		–	–	443,447	443,447

Dividends paid and payable	12	–	–	( 234,913)	( 234,913)
		--------	----	------------	------------
Total investments by and distributions to owners		–	–	( 234,913)	( 234,913)

At 31 March 2025		30,000	430	2,232,015	2,262,445

Profit for the year				190,523	190,523
		--------	----	------------	------------
Total comprehensive income for the year		–	–	190,523	190,523

Issue of shares		100	–	–	100
Dividends paid and payable	12	–	–	( 206,348)	( 206,348)
		----	----	---------	---------
Total investments by and distributions to owners		100	–	( 206,348)	( 206,248)

		--------	----	------------	------------
At 31 March 2026		30,100	430	2,216,190	2,246,720
		--------	----	------------	------------

Surest Limited

Statement of Cash Flows

Year ended 31 March 2026

	2026	2025
	£	£

Cash flows from operating activities

Profit for the financial year	190,523	443,447

Adjustments for:
Depreciation of tangible assets	13,772	15,456
Amounts written back to investments	–	( 31,921)
Income from other fixed asset investments	–	433
Finance income	( 109,328)	( 143,150)
Tax on profit	65,268	91,977
Accrued expenses/(income)	37,891	( 134,282)

Changes in:
Trade and other debtors	( 136,291)	( 125,318)
Trade and other creditors	( 78,155)	105,668
	---------	---------
Cash generated from operations	( 16,320)	222,310

Tax paid	( 91,907)	( 55,255)
	---------	---------
Net cash (used in)/from operating activities	( 108,227)	167,055
	---------	---------

Cash flows from investing activities

Purchase of tangible assets	( 8,492)	( 8,774)
Proceeds from sale of other investments	–	165,280
Dividends received	–	7,695
Interest received	109,328	143,150
	---------	---------
Net cash from investing activities	100,836	307,351
	---------	---------

Cash flows from financing activities

Proceeds from issue of ordinary shares	100	–
Dividends paid	( 206,348)	( 234,913)
	---------	---------
Net cash used in financing activities	( 206,248)	( 234,913)
	---------	---------

Net (decrease)/increase in cash and cash equivalents	( 213,639)	239,493
Cash and cash equivalents at beginning of year	3,547,896	3,308,403
	------------	------------
Cash and cash equivalents at end of year	3,334,257	3,547,896
	------------	------------

Surest Limited

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bridge House, St. Clement Street, Truro, Cornwall, TR1 1ER. The company's principal activities are disclosed in the Strategic Report.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and listed investments measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

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

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and 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 of 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Leasehold improvements	-	20% straight line
Computer equipment	-	33% straight line
Fixtures and fittings	-	20% straight line
Office equipment	-	33% straight line

	Website	-	33% straight line

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 as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Turnover

Turnover arises from:

	2026	2025
	£	£
Sale of goods	5,683,004	6,092,155
	------------	------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit or loss is stated after charging/crediting:

	2026	2025
	£	£
Depreciation of tangible assets	13,772	15,456
Foreign exchange differences	10	( 24)
	--------	--------

6. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2026	2025
	No.	No.
Administrative staff	4	4
Management staff	2	2
Number of call centre staff	7	6
	----	----
	13	12
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2026	2025
	£	£
Wages and salaries	438,337	347,220
Other pension costs	128,606	128,505
	---------	---------
	566,943	475,725
	---------	---------

7. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2026	2025
	£	£
Remuneration	80,818	14,087
	--------	--------

8. Income from other fixed asset investments

	2026	2025
	£	£
Gain/(loss) on disposal of other fixed asset investments	–	(8,128)
Other income from other fixed asset investments	–	7,695
	----	-------
	–	( 433)
	----	-------

9. Other interest receivable and similar income

	2026	2025
	£	£
Interest on bank deposits	109,317	143,019
Other interest	11	131
	---------	---------
	109,328	143,150
	---------	---------

10. Amounts written back to investments

	2026	2025
	£	£
Fair value (gains)/losses	–	(31,921)
	----	--------

11. Tax on profit

Major components of tax expense

	2026	2025
	£	£

Current tax:

UK current tax expense	65,268	91,977
	--------	--------
Tax on profit	65,268	91,977
	--------	--------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is the same as (2025: the same as) the standard rate of corporation tax in the UK of 25 % (2025: 25 %).

	2026	2025
	£	£
Profit on ordinary activities before taxation	255,791	535,424
	---------	---------
Profit on ordinary activities by rate of tax	65,268	91,977
	---------	---------

12. Dividends

	2026	2025
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	206,348	234,913
	---------	---------

13. Intangible assets

	Patents, trademarks and licences
	£
Cost
At 1 April 2025 and 31 March 2026	1,700
	-------
Amortisation
At 1 April 2025 and 31 March 2026	1,700
	-------
Carrying amount
At 31 March 2026	–
	-------
At 31 March 2025	–
	-------

14. Tangible assets

	Long leasehold property	Computer equipment	Fixtures and fittings	Office equipment	Website	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2025	5,758	92,476	16,556	25,844	224,652	365,286
Additions	–	1,381	861	–	6,250	8,492
	-------	--------	--------	--------	---------	---------
At 31 Mar 2026	5,758	93,857	17,417	25,844	230,902	373,778
	-------	--------	--------	--------	---------	---------
Depreciation
At 1 Apr 2025	5,758	88,401	15,009	25,746	211,887	346,801
Charge for the year	–	1,272	797	42	11,661	13,772
	-------	--------	--------	--------	---------	---------
At 31 Mar 2026	5,758	89,673	15,806	25,788	223,548	360,573
	-------	--------	--------	--------	---------	---------
Carrying amount
At 31 Mar 2026	–	4,184	1,611	56	7,354	13,205
	-------	--------	--------	--------	---------	---------
At 31 Mar 2025	–	4,075	1,547	98	12,765	18,485
	-------	--------	--------	--------	---------	---------

15. Debtors

	2026	2025
	£	£
Trade debtors	20,771	24,615
Prepayments and accrued income	543,017	402,982
Other debtors	100	–
	---------	---------
	563,888	427,597
	---------	---------

16. Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	341,429	478,923
Accruals and deferred income	1,075,794	1,037,903
Corporation tax	65,257	91,896
Social security and other taxes	100,830	40,591
	------------	------------
	1,583,310	1,649,313
	------------	------------

17. Provisions

	Pensions and similar obligations
	£
At 1 April 2025	82,220
Charge against provision	( 900)
	--------
At 31 March 2026	81,320
	--------

18. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 128,606 (2025: £ 128,505 ).

19. Called up share capital

Issued and called up

	2026		2025
	No.	£	No.	£
Ordinary shares of £ 1 each	28,500	28,500	28,500	28,500
'A' Ordinary shares of £ 1 each	1,500	1,500	1,500	1,500
'B' Ordinary shares of £ 1 each	100	100	–	–
	--------	--------	--------	--------
	30,100	30,100	30,000	30,000
	--------	--------	--------	--------

Shares issued and fully paid

	2026		2025
	No.	£	No.	£
Ordinary shares of £ 1 each	28,500	28,500	28,500	28,500
'A' Ordinary shares of £ 1 each	1,500	1,500	1,500	1,500
	--------	--------	--------	--------
	30,000	30,000	30,000	30,000
	--------	--------	--------	--------

Shares issued and partly paid

	2026		2025
	No.	£	No.	£
'B' Ordinary shares - £– paid of £ 1 each	100	–	–	–
	----	----	----	----

20. Reserves

Capital redemption reserve - This reserve records the nominal value of A shares redeemed by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.

21. Analysis of changes in net debt

	At 1 Apr 2025	Cash flows	At 31 Mar 2026
	£	£	£
Cash at bank and in hand	3,547,896	(213,639)	3,334,257
	------------	---------	------------

22. Directors' advances, credits and guarantees

The company was under the control of Mr MJ wilson and Ms TJ Physick throughout the current and previous year. Mr MJ Wilson and Ms TJ Physick each own 50% of the issued share capital, and are both directors of the company. During the year the directors made a loan to the company, interest free and repayable upon demand. The balances due at the year end are as follows: Ms TJ physick £0 (2025 - £0) Mr MJ Wilson £0 (2025 - £0)