Company No: 05097413 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	3,248,872		3,000,221
		3,248,872		3,000,221
Current assets
Stocks		541,605		( 5,597)
Debtors	4	1,734,488		1,808,820
Cash at bank and in hand		24,385		29,959
		2,300,478		1,833,182
Creditors: amounts falling due within one year	5	( 47,696)		197,064
Net current assets		2,252,782		2,030,246
Total assets less current liabilities		5,501,654		5,030,467
Creditors: amounts falling due after more than one year	6	( 3,072,088)		( 2,577,880)
Provision for liabilities		( 535,515)		( 445,515)
Net assets		1,894,051		2,007,072
Capital and reserves
Called-up share capital	7	480		480
Revaluation reserve		1,354,212		1,322,156
Capital redemption reserve		480		480
Profit and loss account		538,879		683,956
Total shareholder's funds		1,894,051		2,007,072

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 member has 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 Profit and Loss Account has not been delivered.

The financial statements of Salcombe Park Limited (registered number: 05097413) were approved and authorised for issue by the Board of Directors on 22 September 2026. They were signed on its behalf by:

Mr R A Hardick 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 year, unless otherwise stated.

General information and basis of accounting

Salcombe Park Limited (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 56 The Square, Chagford, TQ13 8AE, United Kingdom.

The address of the Company's principal place of business is Soar Mill Cove Rd, Salcombe, Soar, Kingsbridge, TQ7 3DS.

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 have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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 compromises the fair value of consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is stated net of VAT, rebates and trade discounts, and after eliminating sales within the company.

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.

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 on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	25 % reducing balance
Vehicles	4 years straight line
Fixtures and fittings	3 years straight line
Office equipment	3 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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2025	3,120,634		48,852		72,980		0		716		3,243,182
Additions	255,658		10,781		0		10,954		198		277,591
Disposals	0		0		0		0		( 309)		( 309)
At 31 December 2025	3,376,292		59,633		72,980		10,954		605		3,520,464
Accumulated depreciation
At 01 January 2025	176,299		20,858		45,611		0		193		242,961
Charge for the financial year	16,027		2,026		9,122		1,372		255		28,802
Disposals	0		0		0		0		( 172)		( 172)
At 31 December 2025	192,326		22,884		54,734		1,372		276		271,592
Net book value
At 31 December 2025	3,183,966		36,749		18,246		9,582		329		3,248,872
At 31 December 2024	2,944,335		27,994		27,369		0		523		3,000,221

The Freehold Land, included in Land and buildings, is not depreciated.

Included within Land and buildings are development costs in relation to an asset under construction. Depreciation has not been charged on this development.

4. Debtors

	2025		2024
	£		£
Trade debtors	7,160		15,250
Amounts owed by related parties	1,464,317		1,464,317
Prepayments and accrued income	104,428		209,852
VAT recoverable	144,724		124,619
Corporation tax	23,377		4,300
Other debtors	( 9,518)		( 9,518)
	1,734,488		1,808,820

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	( 1,726,028)		( 1,185,550)
Trade creditors	11,370		6,599
Amounts owed to Group undertakings	15,000		15,000
Amounts owed to directors	( 152,864)		( 152,864)
Accruals and deferred income	109,556		121,577
Taxation and social security	140,086		40,981
Other creditors	1,650,576		957,193
	47,696		( 197,064)

Bank loans of £47,472 (2024: £46,269) are secured over the company's assets by way of a fixed and floating charge in favour of Lloyds bank.

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	3,072,088		2,577,880

Bank loans of £494,208 (2024: 541,680) are secured over the company's assets by way of a fixed and floating charge in favour of Lloyds bank.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans (secured)	291,195		343,992

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
240 Ordinary shares of £ 1.00 each	240		240

8. Related party transactions

During the year, a loan existed between Salcombe Park Limited and Ocean Cove Limited, a company under common control. At the balance sheet date the amount due to Ocean Cove Limited was £1,538 (2024: £1,538). The balance is repayable on demand.

During the year, a loan existed between Salcombe Park Limited and Ocean Cove Group Limited, a parent company (previously called Ocean Cove Parks Limited). At the balance sheet date the amount due from Ocean Cove Group Limited was £711,331 (2024: £711,331). The balance is repayable on demand.

During the year, a loan existed between Brechin Investments Limited and Salcombe Park Limited, a related company. At the balance sheet date the amount due to Brechin Investments Limited was £1,580,134 (2024: £886,751). The balance is repayable on demand.