REGISTERED NUMBER: 06678201 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Above The Bay Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I M Lancaster

REGISTERED OFFICE:

8 Whittle Court

Knowlhill

Milton Keynes

MK5 8FT

REGISTERED NUMBER:

06678201 (England and Wales)

ACCOUNTANTS:

Briants Limited

Maritime House

Discovery Quay

Falmouth

Cornwall

TR11 3XA

FIXED ASSETS

Intangible assets

4

8,346

10,190

Tangible assets

5

583,629

560,276

Investments

6

1,734,000

1,734,000

2,325,975

2,304,466

CURRENT ASSETS

Stocks

22,152

27,765

Debtors

7

1,786,065

1,797,577

Cash at bank and in hand

10,874

5,414

1,819,091

1,830,756

CREDITORS

Amounts falling due within one year

8

2,593,276

2,398,679

NET CURRENT LIABILITIES

(774,185

)

(567,923

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,551,790

1,736,543

CREDITORS

Amounts falling due after more than one year

9

287,837

324,956

NET ASSETS

1,263,953

1,411,587

CAPITAL AND RESERVES

Called up share capital

21,053

21,053

Revaluation reserve

10

(71,385

)

(71,385

)

Other reserves

114,207

114,207

Retained earnings

1,200,078

1,347,712

1,263,953

1,411,587

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 September 2026 and were signed by:

I M Lancaster - Director

1.	STATUTORY INFORMATION

Above The Bay Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These accounts have been prepared on the going concern basis as the director has indicated that he is willing to support the company whilst the deficiency in current assets persists.

Preparation of consolidated financial statements

The financial statements contain information about Above The Bay Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost and at varying rates on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2024 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

and 31 December 2025

15,225

AMORTISATION

At 1 January 2025

5,035

Charge for year

1,844

At 31 December 2025

6,879

NET BOOK VALUE

At 31 December 2025

8,346

At 31 December 2024

10,190

5.	TANGIBLE FIXED ASSETS

Included within the net book value of land and buildings above is £nil (2024 - £nil) in respect of freehold land and buildings and £349,301 (2024 - £282,503) in respect of long leasehold land and buildings.

6.	FIXED ASSET INVESTMENTS

Interest

in other

participatin

interests

£

COST

At 1 January 2025

and 31 December 2025

1,734,000

NET BOOK VALUE

At 31 December 2025

1,734,000

At 31 December 2024

1,734,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

FGC Land 4 Limited

Registered office: 8 Whittle Court, Knowlhill, Milton Keynes, MK5 8FT

Nature of business: Development of business projects.

%

Class of shares:

holding

Ordinary

100.00

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

4,176

17,281

Other debtors

1,781,889

1,780,296

1,786,065

1,797,577

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

94

Hire purchase contracts

89,931

88,800

Trade creditors

203,390

199,196

Amounts owed to group undertakings

1,825,771

1,749,980

Taxation and social security

101,736

80,748

Other creditors

372,448

279,861

2,593,276

2,398,679

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

122,505

170,668

Other creditors

165,332

154,288

287,837

324,956

10.

RESERVES

Revaluation

reserve

£

At 1 January 2025

and 31 December 2025

(71,385

)

11.	RELATED PARTY DISCLOSURES

Summary of transactions with parent

Above the Bay Holdings Ltd - At the year end, the total amount loaned to the company from its parent Above the Bay Holdings Limited, amounted to £1,825,771 (2024: £1,749,980).

Summary of transactions with subsidiaries

FGC Land 4 Ltd - During the previous year, Land & Buildings with a fair value of £1.8m were transferred to FGC and 4 Limited.