Company No: 06408328 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	M Allen
	N Burke
	J W Foot
	P S Isaacs
	E Orr

Secretary

N Burke

Registered office	1 Leazes Avenue
	Chaldon
	Caterham
	Surrey
	CR3 5AG
	United Kingdom

Company number

06408328 (England and Wales)

Accountant	Kreston Reeves LLP
	Springfield House
	Springfield Road
	Horsham
	West Sussex
	RH12 2RG

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	4,021,368		4,071,676
		4,021,368		4,071,676
Current assets
Stocks		198,906		189,047
Debtors	5	49,156		39,272
Cash at bank and in hand		96,077		186,760
		344,139		415,079
Creditors: amounts falling due within one year	6	( 494,020)		( 1,434,939)
Net current liabilities		(149,881)		(1,019,860)
Total assets less current liabilities		3,871,487		3,051,816
Creditors: amounts falling due after more than one year	7	( 1,126,934)		( 293,139)
Provision for liabilities	8	( 168,852)		( 168,292)
Net assets		2,575,701		2,590,385
Capital and reserves
Called-up share capital	9	1,301,000		1,301,000
Profit and loss account		1,274,701		1,289,385
Total shareholder's funds		2,575,701		2,590,385

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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements of Horsham Leisure Limited (registered number: 06408328) were approved and authorised for issue by the Board of Directors on 19 September 2025. They were signed on its behalf by:

N Burke 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

Horsham 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 1 Leazes Avenue, Chaldon, Caterham, Surrey, CR3 5AG, 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 £1.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income 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.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. 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.

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

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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	20 - 50 years straight line
Plant and machinery	3 years straight line
	15 % reducing balance

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. 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.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	44		42

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 March 2024	360,000		360,000
At 28 February 2025	360,000		360,000
Accumulated amortisation
At 01 March 2024	360,000		360,000
At 28 February 2025	360,000		360,000
Net book value
At 28 February 2025	0		0
At 29 February 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Total
	£		£		£
Cost
At 01 March 2024	3,969,398		979,167		4,948,565
Additions	23,067		13,655		36,722
At 28 February 2025	3,992,465		992,822		4,985,287
Accumulated depreciation
At 01 March 2024	262,621		614,268		876,889
Charge for the financial year	30,444		56,586		87,030
At 28 February 2025	293,065		670,854		963,919
Net book value
At 28 February 2025	3,699,400		321,968		4,021,368
At 29 February 2024	3,706,777		364,899		4,071,676
Leased assets included above:
Net book value
At 28 February 2025	0		85,092		85,092
At 29 February 2024	0		100,108		100,108

Included within freehold property is land at cost £3,047,218 which is not depreciated.

5. Debtors

	2025		2024
	£		£
Trade debtors	21,618		21,730
Amounts owed by connected companies	13,238		9,915
Prepayments	14,300		7,627
	49,156		39,272

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	86,260		1,020,053
Trade creditors	172,462		171,758
Accruals and deferred income	123,699		134,307
Other taxation and social security	46,049		41,464
Obligations under finance leases and hire purchase contracts	22,972		32,617
Other creditors	42,578		34,740
	494,020		1,434,939

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

	2025		2024
	£		£
Bank loans	874,267		17,500
Amounts owed to directors	151,643		151,643
Obligations under finance leases and hire purchase contracts	19,505		42,477
Other creditors	81,519		81,519
	1,126,934		293,139

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 168,292)		( 133,604)
Charged to the Profit and Loss Account	( 560)		( 34,688)
At the end of financial year	( 168,852)		( 168,292)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 182,788)		( 191,274)
Tax losses carry forward	13,633		22,982
Other timing differences	303		0
	( 168,852)		( 168,292)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
20 Ordinary A shares of £ 50.00 each	1,000		1,000
26,000 Ordinary B shares of £ 50.00 each	1,300,000		1,300,000
	1,301,000		1,301,000

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	26,550		26,550
between one and five years	61,056		87,606
	87,606		114,156

Pensions

The company operates a defined contributions 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 by the company to the fund and amounted to £15,003 (2024 - £12,593). Contributions totalling £2,829 (2024 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

11. Related party transactions

Other related party transactions

During the year the company made the following related party transactions:
Fresh Golf Limited
(Same directors)
During the year Fresh Golf Limited charged costs of £77,078 (2024 - £60,401) to the company. At the balance sheet date the amount due from Fresh Golf Limited was £13,238 (2024 - £9,915).