Company No: 06736853 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	3	6,040		7,537
Tangible assets	4	2,584,125		2,629,464
		2,590,165		2,637,001
Current assets
Stocks		30,816		34,327
Debtors	5	384,346		370,124
Cash at bank and in hand		49,707		73,099
		464,869		477,550
Creditors: amounts falling due within one year	6	( 1,013,888)		( 1,035,143)
Net current liabilities		(549,019)		(557,593)
Total assets less current liabilities		2,041,146		2,079,408
Creditors: amounts falling due after more than one year	7	( 2,000,000)		( 2,000,000)
Net assets		41,146		79,408
Capital and reserves
Called-up share capital		100		100
Profit and loss account		41,046		79,308
Total shareholder's funds		41,146		79,408

For the financial year ending 28 February 2026 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 South Sands Hotel Limited (registered number: 06736853) were approved and authorised for issue by the Board of Directors on 04 September 2026. They were signed on its behalf by:

S J Ball 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

South Sands Hotel 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 Bolt Head, Salcombe, Devon, TQ8 8LL, United Kingdom.

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 note that the business has net current liabilities of £549,019 at the Balance Sheet date. The Company is supported through loans from the shareholder and other companies controlled by the shareholder, who has confirmed that the loan facilities will continue to be available as required and will continue to support the Company. The directors are resolved to take responsible steps to ensure that capital and other financing continue to be in place so as to enable the Company to meet its obligations as they fall due and to execute the strategy of the company. The directors see no reason why the company should not continue in operational existence for the foreseeable future. On this basis and on the continuing support of the shareholder, the directors have adopted the going concern basis in preparing the Company's financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The Company recognises revenue when goods and services have been provided. Deposits received in advance are included within accruals and deferred income on the balance sheet.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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. Tax is recognised in the profit and loss account, 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

4 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Vehicles	4 years straight line
Fixtures and fittings	4 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

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

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	42		46

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 March 2025	21,403		21,403
Additions	3,400		3,400
At 28 February 2026	24,803		24,803
Accumulated amortisation
At 01 March 2025	13,866		13,866
Charge for the financial year	4,897		4,897
At 28 February 2026	18,763		18,763
Net book value
At 28 February 2026	6,040		6,040
At 28 February 2025	7,537		7,537

4. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 March 2025	3,309,219		165,058		1,797,118		5,271,395
Additions	0		0		37,246		37,246
At 28 February 2026	3,309,219		165,058		1,834,364		5,308,641
Accumulated depreciation
At 01 March 2025	718,701		163,391		1,759,839		2,641,931
Charge for the financial year	51,184		1,667		29,734		82,585
At 28 February 2026	769,885		165,058		1,789,573		2,724,516
Net book value
At 28 February 2026	2,539,334		0		44,791		2,584,125
At 28 February 2025	2,590,518		1,667		37,279		2,629,464

The net book value of land and buildings shown above includes £2,396,898 (2025 - £2,445,043) that relates to freehold land and buildings and £142,436 (2024 - £145,475) that relates to leasehold buildings.

5. Debtors

	2026		2025
	£		£
Trade debtors	12,979		0
Amounts owed by connected companies	340,846		345,149
Prepayments	17,048		4,397
Other debtors	13,473		20,578
	384,346		370,124

Amounts owed by connected companies are repayable on demand and do not bear interest. All connected companies are controlled by D G Noble.

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	53,513		78,326
Amounts owed to connected companies	608,846		711,335
Amounts owed to related parties	17,900		0
Amounts owed to directors	206		203
Accruals and deferred income	205,184		157,562
Corporation tax	13,529		13,164
Other taxation and social security	95,319		46,418
Other creditors	19,391		28,135
	1,013,888		1,035,143

Amounts owed to connected companies are repayable on demand. All connected companies are controlled by D G Noble. During the year, the Company paid interest of £34,346 (2024 - £24,979) to one of the companies controlled by D G Noble. All other loans do not bear interest.

Amounts owed to related parties are repayable on demand and do not bear interest.

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

	2026		2025
	£		£
Bank loans (secured)	2,000,000		2,000,000

Bank borrowings are secured by way of fixed and floating charges over all the property, assets and undertakings of the Company.

8. Related party transactions

Transactions with owners holding a participating interest in the entity

During the year the Company paid rent of £nil (2025 - £3,000) to D G Noble. There is no formal lease in place.

Transactions with the entity's directors

Advances

The Director's loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at official HMRC rates.

During the year, there were no advances or repayments made to the director.

In the previous year, the company made advances to the director amounting to £34 and received repayments of £34.