Registration number: 05415348

Paignton Beach Limited

Contents

Company Information	1
Director's Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 10

Paignton Beach Limited

Company Information

Director

Mr Philip Thomas

Company secretary

Mrs Helen Thomas

Registered office

Fircroft Manor Gardens Higer Lincombe Road Torquay Devon TQ1 2EZ

Accountants

Neil Wilson & Co Chartered Accountants Bank Chambers 260-262 Union Street Torquay Devon TQ2 5QU

Paignton Beach Limited

Director's Report for the Year Ended 28 February 2025

The director presents his report and the financial statements for the year ended 28 February 2025.

Director of the company

The director who held office during the year was as follows:

Mr Philip Thomas

Principal activity

The principal activity of the company is licensed restaurateurs

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 17 November 2025
 

......................................... Mrs Helen Thomas Company secretary

Paignton Beach Limited

(Registration number: 05415348)
Balance Sheet as at 28 February 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	8,473	11,297
Current assets
Stocks	6	3,450	3,450
Debtors	7	(4,060)	(2,206)
Cash at bank and in hand		209,487	205,914
		208,877	207,158
Creditors: Amounts falling due within one year	8	(220,488)	(229,726)
Net current liabilities		(11,611)	(22,568)
Net liabilities		(3,138)	(11,271)
Capital and reserves
Called up share capital	9	100	100
Retained earnings		(3,238)	(11,371)
Shareholders' deficit		(3,138)	(11,271)

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account and Director's Report.

Approved and authorised by the director on 17 November 2025
 

......................................... Mr Philip Thomas Director

Paignton Beach Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fircroft
Manor Gardens
Higer Lincombe Road
Torquay
Devon
TQ1 2EZ
United Kingdom

These financial statements were authorised for issue by the director on 17 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Paignton Beach Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance basis
Fixtures and fittings	25% reducing balance basis
Office equipment	25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Paignton Beach Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2024 - 17).

Paignton Beach Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 March 2024	22,000	22,000
At 28 February 2025	22,000	22,000
Amortisation
At 1 March 2024	22,000	22,000
At 28 February 2025	22,000	22,000
Carrying amount
At 28 February 2025	-	-

5	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 March 2024	48,431	38,293	86,724
At 28 February 2025	48,431	38,293	86,724
Depreciation
At 1 March 2024	42,577	32,850	75,427
Charge for the year	1,463	1,361	2,824
At 28 February 2025	44,040	34,211	78,251
Carrying amount
At 28 February 2025	4,391	4,082	8,473
At 29 February 2024	5,854	5,443	11,297

6

Stocks

	2025 £	2024 £
Other inventories	3,450	3,450

Paignton Beach Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

7

Debtors

Current	2025 £	2024 £
Trade debtors	-	-
Prepayments	(1,840)	-
Other debtors	(2,220)	(2,206)
	(4,060)	(2,206)

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	38,739	42,979
Trade creditors		14,808	14,677
Taxation and social security		34,000	21,258
Accruals and deferred income		98,057	141,902
Other creditors		34,884	8,910
		220,488	229,726

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

10	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	38,570	42,626
Bank overdrafts	169	353
	38,739	42,979

11	Related party transactions

Paignton Beach Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Director's remuneration

The director's remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	23,684	50,000
Contributions paid to money purchase schemes	430	1,126
	24,114	51,126

Dividends paid to the director

		2025 £		2024 £
Mrs Helen Thomas
interim dividend paid		-		-
Mr Philip Thomas
interim dividend paid		-		-