IRIS Accounts Production v25.2.0.378 05050529 Board of Directors 1.1.24 31.12.24 31.12.24 Medium entities providing amusement and leisure facilities. 180 164 true false true true false false true true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary shares 1.00000 144 95000 144 95000 144 144 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050505292023-12-31050505292024-12-31050505292024-01-012024-12-31050505292022-12-31050505292023-01-012023-12-31050505292023-12-3105050529ns15:EnglandWales2024-01-012024-12-3105050529ns14:PoundSterling2024-01-012024-12-3105050529ns10:Director12024-01-012024-12-3105050529ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3105050529ns10:MediumEntities2024-01-012024-12-3105050529ns10:Audited2024-01-012024-12-3105050529ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-01-012024-12-3105050529ns10:Medium-sizedCompaniesRegimeForAccounts2024-01-012024-12-3105050529ns10:FullAccounts2024-01-012024-12-3105050529ns10:OrdinaryShareClass12024-01-012024-12-3105050529ns10:Director2422023-12-3105050529ns10:Director2422022-12-3105050529ns10:Director2422023-01-012023-12-3105050529ns10:Director2422024-12-3105050529ns10:Director2422023-12-3105050529ns10:Director22024-01-012024-12-3105050529ns10:Director32024-01-012024-12-3105050529ns10:CompanySecretary12024-01-012024-12-3105050529ns10:RegisteredOffice2024-01-012024-12-3105050529ns5:RetainedEarningsAccumulatedLosses2023-12-3105050529ns5:RetainedEarningsAccumulatedLosses2022-12-3105050529ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-3105050529ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3105050529ns5:RetainedEarningsAccumulatedLosses2024-12-3105050529ns5:RetainedEarningsAccumulatedLosses2023-12-3105050529ns5:CurrentFinancialInstruments2024-12-3105050529ns5:CurrentFinancialInstruments2023-12-3105050529ns5:ShareCapital2024-12-3105050529ns5:ShareCapital2023-12-3105050529ns5:LongLeaseholdAssetsns5:LandBuildings2024-01-012024-12-3105050529ns5:PlantMachinery2024-01-012024-12-3105050529ns5:FurnitureFittings2024-01-012024-12-3105050529ns5:MotorVehicles2024-01-012024-12-3105050529ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2024-01-012024-12-3105050529ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-01-012023-12-3105050529ns5:OwnedAssets2024-01-012024-12-3105050529ns5:OwnedAssets2023-01-012023-12-310505052912024-01-012024-12-310505052912023-01-012023-12-3105050529ns10:OrdinaryShareClass12023-01-012023-12-3105050529ns5:LongLeaseholdAssetsns5:LandBuildings2023-12-3105050529ns5:PlantMachinery2023-12-3105050529ns5:FurnitureFittings2023-12-3105050529ns5:LongLeaseholdAssetsns5:LandBuildings2024-12-3105050529ns5:PlantMachinery2024-12-3105050529ns5:FurnitureFittings2024-12-3105050529ns5:LongLeaseholdAssetsns5:LandBuildings2023-12-3105050529ns5:PlantMachinery2023-12-3105050529ns5:FurnitureFittings2023-12-3105050529ns5:MotorVehicles2023-12-3105050529ns5:ComputerEquipment2023-12-3105050529ns5:ComputerEquipment2024-01-012024-12-3105050529ns5:MotorVehicles2024-12-3105050529ns5:ComputerEquipment2024-12-3105050529ns5:MotorVehicles2023-12-3105050529ns5:ComputerEquipment2023-12-3105050529ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3105050529ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3105050529ns5:WithinOneYear2024-12-3105050529ns5:WithinOneYear2023-12-3105050529ns5:BetweenOneFiveYears2024-12-3105050529ns5:BetweenOneFiveYears2023-12-3105050529ns5:MoreThanFiveYears2024-12-3105050529ns5:MoreThanFiveYears2023-12-3105050529ns5:AllPeriods2024-12-3105050529ns5:AllPeriods2023-12-3105050529ns5:AcceleratedTaxDepreciationDeferredTax2024-12-3105050529ns5:AcceleratedTaxDepreciationDeferredTax2023-12-3105050529ns5:DeferredTaxation2023-12-3105050529ns5:DeferredTaxation2024-01-012024-12-3105050529ns5:DeferredTaxation2024-12-3105050529ns10:OrdinaryShareClass12024-12-31050505291ns10:Director12023-12-31050505291ns10:Director12022-12-31050505291ns10:Director12024-01-012024-12-31050505291ns10:Director12023-01-012023-12-31050505291ns10:Director12024-12-31050505291ns10:Director12023-12-3105050529ns5:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl2024-01-012024-12-3105050529ns5:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl2023-01-012023-12-31
REGISTERED NUMBER: 05050529 (England and Wales)




















Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

Funstation Limited

Funstation Limited (Registered number: 05050529)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Strategic Report 2 to 3

Report of the Directors 4 to 5

Report of the Independent Auditors 6 to 9

Statement of Income and Retained Earnings 10

Balance Sheet 11

Notes to the Financial Statements 12 to 19


Funstation Limited

Company Information
for the year ended 31 December 2024







DIRECTORS: J L Miller
Mrs V I Miller
Ms J A Pettitt





SECRETARY: J L Miller





REGISTERED OFFICE: Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL





REGISTERED NUMBER: 05050529 (England and Wales)





AUDITORS: Clifford Roberts
Chartered Accountants &
Statutory Auditors
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Funstation Limited (Registered number: 05050529)

Strategic Report
for the year ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company is that of providing affordable family entertainment within leisure and retail environments.

REVIEW OF BUSINESS
In the year ended 31st December 2024, the Company's trading position continued on a positive trajectory, following on from the end of the previous year. We continue with our core activity of providing affordable family entertainment within leisure and retail environments.

During the year the Company opened its first location in Northern Ireland, within the Belfast Odyssey scheme. The site includes a Funstation as well as Escape Rooms and a Dessert Bar, which have been added to further our customer experience.

During the year we refurbished both our sites within the Xscape Yorkshire leisure scheme. As part of this, in the Volcano Falls site we have added interactive darts. Again, as with previous years, the new site and refurbishments have been funded entirely through organic growth and existing cash reserves.

Turnover continued to increase year on year whilst being able to maintain relatively consistent gross and net margins. Day to day expenditure is continuously reviewed to ensure margins can be maintained and budgeted for. The Company continues to explore cost saving opportunities where possible.

Staff costs have increased due to statutory increases in the National Minimum Wage and due to annual pay increases to help with the rising levels of inflation, ensuring that quality staff are invested in, retained and attracted.

The Company's reputation (and brands) continue to be held in high regard within the leisure sector, by the general public and by landlords due to the consistent quality of our offering and ongoing investment within our venues.

The Company remains in a strong financial position due to continual expert management of the business and its ability to react to any unforeseen circumstance.

PRINCIPAL RISKS AND UNCERTAINTIES
The company does not have significant exposure to foreign currency, credit, liquidity, interest rate or cash flow risks due to the nature of its trade. Exposure to other price risk arises in the normal course of Funstation Limited's business. This risk is limited by the company's financial management policies described below.

Other price risk
The main risk faced by the business is that sites with long leases will cease to be profitable, whether through the reduction in footfall or the increase in ongoing running costs. We manage these risks by monitoring the impact of new attractions at sites and closing unprofitable sites if necessary.


Funstation Limited (Registered number: 05050529)

Strategic Report
for the year ended 31 December 2024

ANALYSIS OF DEVELOPMENTS AND PERFORMANCE
The directors are satisfied with the performance of the company during the year and its position as at the 31st December, 2024.

The key performance indicators (KPI's) used in monitoring the company's performance are:

1. Organic sales growth - year on year percentage change in sales revenue.

2. Gross return on sales - gross profit as a percentage of sales revenue.

3. Working capital ratio - total current assets divided by total current liabilities.


KEY PERFORMANCE INDICATORS (KPI's)

2024 2023
Organic sales growth 3.59% 15.44%
Gross return on sales 68.25% 72.76%
Working capital ratio 1.83 1.49

ON BEHALF OF THE BOARD:





J L Miller - Director


26 August 2025

Funstation Limited (Registered number: 05050529)

Report of the Directors
for the year ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2024.

FUTURE DEVELOPMENTS
At the date of signing, the Company has opened two new locations, a Funstation within The Light - Leeds, as well as a site at The Eden Centre - High Wycombe.

Over the next 12 months the Company has plans for further growth by adding additional locations and extending some of our current venues. This again will be achieved using existing cash reserves ensuring the stability of the company is not compromised in any way.

The changes announced in the budget in relation to business rates hospitality relief reductions, Employer NICs and National Minimum Wage increases mean that we are facing much larger bills in 2025. This will be managed where possible through efficient staffing.

Later on in the year we also start a multi-year energy agreement through forward purchasing which should result in lower electricity bills over the next few years.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

J L Miller
Mrs V I Miller
Ms J A Pettitt

DISCLOSURE IN THE STRATEGIC REPORT
Principal activity, financial risk management objectives and policies and the exposure to foreign currency, credit, liquidity, interest rate, cash flow and other price risks are set out in the strategic report (as defined by section 414 C (11) of the Companies Act 2006).

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Funstation Limited (Registered number: 05050529)

Report of the Directors
for the year ended 31 December 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Clifford Roberts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J L Miller - Director


26 August 2025

Report of the Independent Auditors to the Members of
Funstation Limited

Opinion
We have audited the financial statements of Funstation Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Funstation Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Funstation Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regulatory framework applicable to the company and
the sector in which they operate. We determined that the following laws and regulations were most
significant: the Companies Act 2006, UK Generally Accepted Accounting Practice and UK corporate
taxation laws.
- We obtained an understanding of how the company is complying with those legal and regulatory
frameworks by making inquiries to the management and by observing the oversight of management,
the culture of honesty and ethical behaviour and whether strong emphasis is placed on fraud
prevention, which may reduce the opportunities for fraud to take place, and fraud deterrence, which
could persuade individuals not to commit fraud in the first instance. We corroborated our inquiries
through our review of all relevant available audit information.
- We assessed and understood the susceptibility of the company's financial statements to material
misstatement, including how fraud might occur. Based on this understanding we designed our audit
procedures to identify non-compliance with such laws and regulations. The audit procedures
performed by the engagement team included:
> identifying and assessing the design and effectiveness of controls management has in place to
prevent and detect fraud;
> understanding of how senior management considered and addressed the potential for override of
controls or other inappropriate influence over the financial reporting process;
> challenging assumptions and judgements made by management in its significant accounting
estimates;
> performing audit work over the risk of management override of controls, including testing of journal
entries and other adjustments for appropriateness, evaluating the business rationale of significant
transactions outside the normal course of business and reviewing accounting estimates for bias;
and,
> assessing the extent of compliance with relevant laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Funstation Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Robert Dearing BEng FCA (Senior Statutory Auditor)
for and on behalf of Clifford Roberts
Chartered Accountants &
Statutory Auditors
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

26 August 2025

Funstation Limited (Registered number: 05050529)

Statement of Income and
Retained Earnings
for the year ended 31 December 2024

2024 2023
Notes £    £    £    £   

TURNOVER 13,409,131 12,944,868

Cost of sales 4,257,366 3,525,736
GROSS PROFIT 9,151,765 9,419,132

Distribution costs 129,355 112,050
Administrative expenses 5,840,686 5,054,192
5,970,041 5,166,242
3,181,724 4,252,890

Other operating income 3 - (10,431 )
OPERATING PROFIT 5 3,181,724 4,242,459

Income from fixed asset investments 6 85,798 38,677
Interest receivable and similar income 7 63,008 59,802
148,806 98,479
PROFIT BEFORE TAXATION 3,330,530 4,340,938

Tax on profit 8 857,850 817,650
PROFIT FOR THE FINANCIAL YEAR 2,472,680 3,523,288

Retained earnings at beginning of year 7,154,714 10,631,426

Dividends 9 - (7,000,000 )

RETAINED EARNINGS AT END OF
YEAR

9,627,394

7,154,714

Funstation Limited (Registered number: 05050529)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 6,865,930 5,984,042

CURRENT ASSETS
Stocks 11 499,799 293,392
Debtors 12 3,079,433 1,961,343
Investments 13 1,343,636 1,038,677
Cash at bank and in hand 2,711,234 1,672,146
7,634,102 4,965,558
CREDITORS
Amounts falling due within one year 14 4,178,555 3,334,001
NET CURRENT ASSETS 3,455,547 1,631,557
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,321,477

7,615,599

PROVISIONS FOR LIABILITIES 16 693,983 460,785
NET ASSETS 9,627,494 7,154,814

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 9,627,394 7,154,714
SHAREHOLDERS' FUNDS 9,627,494 7,154,814

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2025 and were signed on its behalf by:





J L Miller - Director


Funstation Limited (Registered number: 05050529)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Funstation 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 company's principal place of business is at Portway House, 13 North Portway Close, Round Spinney Industrial Estate, Northampton, NN3 8RQ.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A.

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.

Significant judgements and estimates
In the application of the companies accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

(a) Deferral of monies held on cards and redeemable tickets provision
Almost all locations operate cashless games. Customers preload their funcards and swipe or tap to play games. Tickets can be won on some games and prizes redeemed using them. Both card and ticket balances expire if not used within 12 months.

As such, all balances remaining on cards and the value of tickets still held are deferred into the period in which they expire or are used.

The income deferred was £505,831 (2023 - £443,927) and the value of the tickets provided for was £326,027 (2023 - £315,636).

(b) Determining net book value of tangible fixed assets
In determining the net book value of tangible fixed assets, management estimate both the residual value and the useful economic lives of the assets. Both judgements rely on the experience of management.

Funstation Limited (Registered number: 05050529)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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

Turnover is recognised at the point of use of leisure facilities by customers.

Investment income
Fixed income from investments is included in the income statement of the accounting period in which it is accrued.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property improvements - Over the life of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance, 15% on reducing balance and 10% on cost
Motor vehicles - 25% on reducing balance

No depreciation is provided on assets in the course of construction.

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

Stocks consist of consumable items such as food and drink, and goods held for redemption using prize tickets.

Investments
Investments comprise of fixed income bonds held as current assets.

Financial instruments
Funstation Limited enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans, balances to and from related parties.

Debt instruments (other than those wholly repayable or receivable in one year), including loans and other accounts receivable and payable, are initially measured at the present value of future cash flows and subsequently at amortised cost using the effective interest rate method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in the income statement.

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.


Funstation Limited (Registered number: 05050529)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. OTHER OPERATING INCOME
2024 2023
£    £   
Government grants - (10,431 )

4. EMPLOYEES AND DIRECTORS

20242023
££
Wages and salaries3,278,1362,611,478
Social security costs197,336166,148
Other pension costs320,279138,334
3,795,7512,915,960

The average monthly number of employees during the year was made up as follows:

20242023
No.No.
Administration and support1814
Leisure, operations and management162150
180164

2024 2023
£    £   
Directors' remuneration 109,200 107,775
Directors' pension contributions to money purchase schemes 272,556 2,513

Funstation Limited (Registered number: 05050529)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

4. EMPLOYEES AND DIRECTORS - continued

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 3 3

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 8,053 17,495
Other operating leases 1,051,667 1,011,039
Depreciation - owned assets 1,088,974 968,993
Loss/(profit) on disposal of fixed assets 7,224 (11,378 )
Auditors' remuneration 12,093 14,488
Foreign exchange differences (1,092 ) 4,824

6. INCOME FROM FIXED ASSET INVESTMENTS
2024 2023
£    £   
Fixed income bond interest 85,798 38,677

7. INTEREST RECEIVABLE AND SIMILAR INCOME
2024 2023
£    £   
Deposit account interest 58,426 38,731
Corporation tax interest 4,582 21,071
63,008 59,802

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 624,652 591,295

Deferred tax 233,198 226,355
Tax on profit 857,850 817,650

Funstation Limited (Registered number: 05050529)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 3,330,530 4,340,938
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 23.520%)

832,633

1,020,989

Effects of:
Expenses not deductible for tax purposes 4,105 4,078
Capital allowances in excess of depreciation (207,857 ) (426,428 )
Deferred tax 233,198 226,355
Structures and buildings allowance (6,035 ) (4,668 )
Loss/(profit) on disposal of assets 1,806 (2,676 )
Total tax charge 857,850 817,650

9. DIVIDENDS
2024 2023
£    £   
Ordinary shares shares of £1 each
Interim - 7,000,000

10. TANGIBLE FIXED ASSETS
Leasehold Fixtures
property Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 January 2024 5,417,362 5,010,919 2,992,052
Additions 556,680 896,948 503,961
Disposals - (60,922 ) (250 )
At 31 December 2024 5,974,042 5,846,945 3,495,763
DEPRECIATION
At 1 January 2024 2,453,268 3,291,621 1,741,002
Charge for year 423,182 459,487 192,425
Eliminated on disposal - (53,639 ) (10 )
At 31 December 2024 2,876,450 3,697,469 1,933,417
NET BOOK VALUE
At 31 December 2024 3,097,592 2,149,476 1,562,346
At 31 December 2023 2,964,094 1,719,298 1,251,050

Funstation Limited (Registered number: 05050529)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

10. TANGIBLE FIXED ASSETS - continued

Assets in
the
Motor course of
vehicles construction Totals
£    £    £   
COST
At 1 January 2024 81,785 - 13,502,118
Additions 28,945 5,802 1,992,336
Disposals (24,650 ) - (85,822 )
At 31 December 2024 86,080 5,802 15,408,632
DEPRECIATION
At 1 January 2024 32,185 - 7,518,076
Charge for year 13,880 - 1,088,974
Eliminated on disposal (10,699 ) - (64,348 )
At 31 December 2024 35,366 - 8,542,702
NET BOOK VALUE
At 31 December 2024 50,714 5,802 6,865,930
At 31 December 2023 49,600 - 5,984,042

11. STOCKS
2024 2023
£    £   
Stocks 499,799 293,392

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 187,207 3,217
Amounts owed by group undertakings 1,458,332 243,656
Other debtors 23,807 32,209
Directors' current accounts 144 144
Tax 623,286 833,843
Prepayments and accrued income 786,657 848,274
3,079,433 1,961,343

13. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Fixed income bond 1,343,636 1,038,677

Funstation Limited (Registered number: 05050529)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,229,665 821,869
Amounts owed to group undertakings 585 -
Tax 624,652 591,295
Social security and other taxes 58,540 52,380
VAT 228,299 182,342
Other creditors 17,859 10,580
Accruals and deferred income 2,018,955 1,675,535
4,178,555 3,334,001

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 986,133 956,585
Between one and five years 4,384,017 3,260,600
In more than five years 6,601,455 4,787,925
11,971,605 9,005,110

The amount of non-cancellable operating lease payments recognised as an expense during the year was £1,051,667 (2023: £1,011,039).

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 693,983 460,785

Deferred
tax
£   
Balance at 1 January 2024 460,785
Charge to Income Statement during year 233,198
Balance at 31 December 2024 693,983

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100

Funstation Limited (Registered number: 05050529)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

18. RESERVES
Retained
earnings
£   

At 1 January 2024 7,154,714
Profit for the year 2,472,680
At 31 December 2024 9,627,394

19. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable to the fund and amounted to £320,279 (2023: £138,334). The amount outstanding at the year end was £10,961 (2023: £9,077).

20. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 198,334 -

21. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
J L Miller and Mrs V I Miller
Balance outstanding at start of year 144 95,000
Amounts advanced - 144
Amounts repaid - (95,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 144 144

22. RELATED PARTY DISCLOSURES

Key management personnel of the entity or its parent (in the aggregate)
2024 2023
£    £   
Compensation 393,058 121,444

23. ULTIMATE CONTROLLING PARTY

The directors consider that the ultimate parent company is Overstone Holdings Limited, which owns 100% of the issued ordinary share capital. Overstone Holdings Limited is a company registered in England that shares the same registered office as Funstation Limited.

Overstone Holdings Limited's consolidated financial statements are available at Companies House.