Mardam Leisure Ltd

Contents

Statement of financial position	1
Notes to the Unaudited Financial Statements	2 to 6

Mardam Leisure Ltd

(Registration number: 15351327)
Statement of financial position as at 31 March 2025

	Note	2025 £
Fixed assets
Intangible assets	4	3,424
Tangible assets	5	707,716
		711,140
Current assets
Stocks	6	12,173
Debtors	7	75,337
Cash at bank and in hand		2,200
		89,710
Creditors: Amounts falling due within one year	8	(138,163)
Net current liabilities		(48,453)
Total assets less current liabilities		662,687
Creditors: Amounts falling due after more than one year	8	(876,555)
Net liabilities		(213,868)
Capital and reserves
Called up share capital	9	200
Retained earnings		(214,068)
Shareholders' deficit		(213,868)

For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 8 September 2025 and signed on its behalf by:
 

......................................... Mr M Devine Director

Mardam Leisure Ltd

Notes to the Unaudited Financial Statements for the Period from 14 December 2023 to 31 March 2025

1	General information

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

The address of its registered office is:
Pirates Bay Adventure Golf
Esplanade Road
Paignton
Devon
TQ4 6AG

These financial statements were authorised for issue by the Board on 8 September 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

The financial statements have been prepared on a going concern basis.

The directors and shareholders have expressed a willingness to support the working cashflow requirements and have agreed not to seek repayment of their loans until the company has sufficient funds to do so.

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Mardam Leisure Ltd

Notes to the Unaudited Financial Statements for the Period from 14 December 2023 to 31 March 2025

Asset class	Depreciation method and rate
Leasehold improvements	Straight line over the length of the lease
Plant and machinery	20% straight line
Fixtures and fittings	10% straight line
Start up costs	33% straight line
Software and website development	33% straight line

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:

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.

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.

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 income statement 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Mardam Leisure Ltd

Notes to the Unaudited Financial Statements for the Period from 14 December 2023 to 31 March 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 15.

4	Intangible assets

	Internally generated software development costs  £	Total £
Cost or valuation
Additions acquired separately	3,450	3,450
At 31 March 2025	3,450	3,450
Amortisation
Amortisation charge	26	26
At 31 March 2025	26	26
Carrying amount
At 31 March 2025	3,424	3,424

5	Tangible assets

	Short leasehold land and buildings £	Fixtures and fittings £	Plant and machinery £	Total £
Cost or valuation
Additions	533,389	20,383	192,582	746,354
At 31 March 2025	533,389	20,383	192,582	746,354
Depreciation
Charge for the period	18,483	946	19,209	38,638
At 31 March 2025	18,483	946	19,209	38,638
Carrying amount
At 31 March 2025	514,906	19,437	173,373	707,716

Mardam Leisure Ltd

Notes to the Unaudited Financial Statements for the Period from 14 December 2023 to 31 March 2025

6

Stocks

	2025 £
Other inventories	12,173

7

Debtors

	2025 £
Trade debtors	31,039
Other debtors	2,215
Prepayments	42,083
	75,337

8

Creditors

Creditors: amounts falling due within one year

	2025 £
Due within one year
Trade creditors	68,539
Taxation and social security	30,355
Accruals and deferred income	10,869
Other creditors	28,400
	138,163

Creditors: amounts falling due after more than one year

	Note	2025 £
Due after one year
Loans and borrowings	10	876,555

9	Share capital

Allotted, called up and fully paid shares

	2025
	No.	£
Ordinary of £1 each	200	200

Mardam Leisure Ltd

Notes to the Unaudited Financial Statements for the Period from 14 December 2023 to 31 March 2025

10	Loans and borrowings

Non-current loans and borrowings

	2025 £
Other borrowings	876,555

11	Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £1,339,182.