Company No: 05655673 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	2,050		2,562
Tangible assets	4	2,113,213		2,095,801
		2,115,263		2,098,363
Current assets
Stocks	5	13,683		17,792
Debtors
- due within one year	6	2,809,088		2,286,634
- due after more than one year	6	250,000		250,000
Cash at bank and in hand		163,931		244,543
		3,236,702		2,798,969
Creditors: amounts falling due within one year	7	( 481,574)		( 432,446)
Net current assets		2,755,128		2,366,523
Total assets less current liabilities		4,870,391		4,464,886
Provision for liabilities		( 100,884)		( 61,620)
Net assets		4,769,507		4,403,266
Capital and reserves
Called-up share capital		1,000		1,000
Profit and loss account		4,768,507		4,402,266
Total shareholder's funds		4,769,507		4,403,266

For the financial year ending 31 March 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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Mikulla Leisure Limited (registered number: 05655673) were approved and authorised for issue by the Director on 12 September 2025. They were signed on its behalf by:

C P Mikulla 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

Mikulla Leisure 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 Mendip Spring Golf Club, Honeyhall Lane, Congresbury, BS49 5JT, 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 £.

Turnover

Turnover includes subscriptions, green fees, accommodation and clubhouse income, all shown net of value added tax, returns, rebates and discounts.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

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:

Goodwill	5 years straight line
Other intangible assets	10 years straight line

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful economic life of five years. The goodwill is now fully amortised.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. The useful life is considered to be 10 years.

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
	not depreciated
Plant and machinery	15 % reducing balance
Vehicles	20 years straight line
Fixtures and fittings	15 % reducing balance
Office equipment	5 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 complete and sell. Cost is determined using the first-in, first-out (FIFO) method. 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 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

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

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	35		35

3. Intangible assets

	Goodwill		Other intangible assets		Total
	£		£		£
Cost
At 01 April 2024	500,000		5,122		505,122
At 31 March 2025	500,000		5,122		505,122
Accumulated amortisation
At 01 April 2024	500,000		2,560		502,560
Charge for the financial year	0		512		512
At 31 March 2025	500,000		3,072		503,072
Net book value
At 31 March 2025	0		2,050		2,050
At 31 March 2024	0		2,562		2,562

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 April 2024	1,786,521		418,772		224,220		47,603		19,650		2,496,766
Additions	38,695		57,196		0		0		0		95,891
Disposals	0		( 43,358)		0		( 19,847)		0		( 63,205)
At 31 March 2025	1,825,216		432,610		224,220		27,756		19,650		2,529,452
Accumulated depreciation
At 01 April 2024	87,994		187,108		75,501		31,100		19,262		400,965
Charge for the financial year	11,689		39,827		11,211		2,475		388		65,590
Disposals	0		( 34,169)		0		( 16,147)		0		( 50,316)
At 31 March 2025	99,683		192,766		86,712		17,428		19,650		416,239
Net book value
At 31 March 2025	1,725,533		239,844		137,508		10,328		0		2,113,213
At 31 March 2024	1,698,527		231,664		148,719		16,503		388		2,095,801

5. Stocks

	2025		2024
	£		£
Stocks	13,683		17,792

6. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Trade debtors	9,491		0
Amounts owed by Parent undertakings	2,788,953		2,280,661
Other debtors	10,644		5,973
	2,809,088		2,286,634
Debtors: amounts falling due after more than one year
Amounts owed by connected companies	250,000		250,000

Amounts owed by parent undertakings are interest-free and repayable on demand.

Amount owed by connected companies is an unsecured interest-free loan.

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	40,771		46,906
Amounts owed to director	20		20
Accruals and deferred income	133,306		101,981
Taxation and social security	204,520		161,618
Other creditors	102,957		121,921
	481,574		432,446

8. Ultimate controlling party

Parent Company:

C.P. Mikulla Limited

Mendip Spring Golf & Country Club Honeyhall Lane Congresbury North Somerset BS49 5JT

The ultimate controlling party is Mr C P Mikulla.