REGISTERED NUMBER: 02791662 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 DECEMBER 2025

FOR

VECTIS VENTURES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

7

DIRECTOR:

A W Dabell

REGISTERED OFFICE:

Blackgang Chine

The Sawmill

Blackgang, Chale,

Isle Of Wight

PO38 2HN

REGISTERED NUMBER:

02791662 (England and Wales)

ACCOUNTANTS:

Bright Brown Limited

Chartered Accountants

Exchange House

St. Cross Lane

Newport

Isle of Wight

PO30 5BZ

FIXED ASSETS

Tangible assets

5

1,091,040

1,251,566

CURRENT ASSETS

Stocks

32,477

37,758

Debtors

6

961,745

885,514

Cash at bank and in hand

861,549

1,253,629

1,855,771

2,176,901

CREDITORS

Amounts falling due within one year

7

1,481,276

1,636,452

NET CURRENT ASSETS

374,495

540,449

TOTAL ASSETS LESS CURRENT LIABILITIES

1,465,535

1,792,015

CREDITORS

Amounts falling due after more than one year

8

(288,926

)

(371,292

)

PROVISIONS FOR LIABILITIES

-

(10,303

)

NET ASSETS

1,176,609

1,410,420

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

1,176,599

1,410,410

SHAREHOLDERS' FUNDS

1,176,609

1,410,420

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 June 2026 and were signed by:

A W Dabell - Director

1.	STATUTORY INFORMATION

Vectis Ventures Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The director has made an assessment in preparing these financial statements as to whether the company remains a going concern.

During 2025, following the Robin Hill site sale the remaining debts have been refinanced from Funding Circle to Lloyds during the year.

A Dabell, director and owner of the Group has also introduced funds to provide working capital to allow the Group to continue and this loan remains in place at the year end and has confirmed no intention to seek repayment until such time as the business can sustain repayment.

The sale and refinance has allowed the director to focus on the remaining park, Blackgang Chine which the director believes is a profitable and viable business.

With the sale and debt restructuring above, the director has produced revised cash flow forecasts for the Group, which together with an agreed overdraft facility from Lloyds of £250,000 demonstrate that there are sufficient cash resources available to the Group and Parent Company to ensure they can meet their financial obligations as they fall due for the foreseeable future, this being the period covering at least twelve months from the date of approval of these financial statements. For these reasons, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents amounts receivable for admissions, shop sales, catering and event income, net of VAT. Turnover from annual passes is recognised over the period that the ticket relates to, in proportion to the number of days the Park is open during the year. Turnover from admissions and events are recognised on the date of entry, with any tickets bought in advance, deferred into the year to which they related.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Catering turnover is recognised when the goods or services are supplied.

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

-

Straight line over 10 years and Straight line over 6 - 7 years

Assets acquired under finance leases are depreciated are depreciated over the lease term unless the estimated useful life is considered to be shorter than the lease term.

Assets in construction are recognised at cost incurred in the period and no depreciation has been charged during construction.

Stocks

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

Financial instruments

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

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.

Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Interest bearing bank loans, overdrafts and other loans which meet the criteria to be classified as basic financial instruments are initially recorded at the present value of cash payable to the bank, which is ordinarily equal to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2024 - 68 ) .

4.	AUDITORS' REMUNERATION

2025

2024

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

-

13,875

Auditors' remuneration for non audit work

-

3,500

5.	TANGIBLE FIXED ASSETS

Assets

Plant and

under

machinery

construction

etc

Totals

£

£

£

COST

At 31 December 2024

131,091

3,134,892

3,265,983

Additions

-

74,639

74,639

Disposals

-

(15,690

)

(15,690

)

Transfer to ownership

(120,000

)

120,000

-

At 30 December 2025

11,091

3,313,841

3,324,932

DEPRECIATION

At 31 December 2024

-

2,014,417

2,014,417

Charge for year

-

232,851

232,851

Eliminated on disposal

-

(13,376

)

(13,376

)

At 30 December 2025

-

2,233,892

2,233,892

NET BOOK VALUE

At 30 December 2025

11,091

1,079,949

1,091,040

At 30 December 2024

131,091

1,120,475

1,251,566

The net book value of assets held under finance lease or hire purchase contracts included above are £62,682 (2024: £99,224) in respect of plant and machinery assets.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

3,079

5,864

Amounts owed by group undertakings

671,843

664,808

Other debtors

286,823

214,842

961,745

885,514

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

69,564

-

Hire purchase contracts and finance leases

32,596

35,429

Trade creditors

36,842

158,166

Taxation and social security

39,826

56,251

Other creditors

1,302,448

1,386,606

1,481,276

1,636,452

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

262,582

-

Hire purchase contracts and finance leases

26,344

59,655

Other creditors

-

311,637

288,926

371,292

Amounts falling due in more than five years:

Repayable by instalments

Hire purchase

-

712

9.	OTHER FINANCIAL COMMITMENTS

At the year end the company has minimum operating lease commitments of £29,588 (2024: £13,722) which are split between due in one year of £11,255 and over one year of £18,333.

10.	RELATED PARTY DISCLOSURES

Remuneration of key management personnel

In addition to the directors' remuneration, salaries and related costs of key management personnel amounted to £3,699 (2024: £5,218).

Amounts owed by related parties

No guarantees have been given or received.

During the year a loan was owed to a director, at the year end there was a balance due to the director of £1,210,034 (2024: £1,210,289).

11.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking is Vectis Holdings Limited, a company registered in England and Wales.

The ultimate controlling party is A W Dabell, by virtue of their shareholding and directorship in the ultimate parent undertaking.