REGISTERED NUMBER: 01676857 (England and Wales)

ORIGIN LEISURE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Kershaw

G J Taylor

SECRETARY:

G J Taylor

REGISTERED OFFICE:

Broad House

1 The Broadway

Old Hatfield

Hertfordshire

AL9 5BG

REGISTERED NUMBER:

01676857 (England and Wales)

ACCOUNTANTS:

Jones Hunt & Keelings

Chartered Certified Accountants and

Chartered Tax Advisers

Broad House

1 The Broadway

Old Hatfield

Hertfordshire

AL9 5BG

FIXED ASSETS

Tangible assets

4

65,707

79,135

Investments

5

45,000

45,000

110,707

124,135

CURRENT ASSETS

Stocks

26,981

26,981

Debtors

6

875,051

839,898

Cash at bank and in hand

1,661,075

1,764,213

2,563,107

2,631,092

CREDITORS

Amounts falling due within one year

7

1,501,130

1,546,108

NET CURRENT ASSETS

1,061,977

1,084,984

TOTAL ASSETS LESS CURRENT LIABILITIES

1,172,684

1,209,119

CREDITORS

Amounts falling due after more than one year

8

(208,193

)

(225,922

)

PROVISIONS FOR LIABILITIES

(15,100

)

(18,307

)

NET ASSETS

949,391

964,890

CAPITAL AND RESERVES

Called up share capital

9

48,484

48,484

Capital redemption reserve

19,000

19,000

Retained earnings

881,907

897,406

SHAREHOLDERS' FUNDS

949,391

964,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

G J Taylor - Director

1.	STATUTORY INFORMATION

Origin Leisure 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 presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are again prepared on the going concern basis.

Significant judgements and estimates

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. These estimates and judgements are made in the light of historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstance. However, actual results may differ from those anticipated.

In the preparation of these financial statements, the group's critical accounting judgements and estimates are in respect of warranty and doubtful debts provisions as set out below:

- Warranty provision: when assessing the adequacy of the warranty provision, items such as the age of the work covered, correspondence with customers and historic data as to the costs and frequency of past repairs are considered.

- Doubtful debts: a provision is made when the directors consider that collection of the full amount due is no longer expected. Their assessment is based on the age of the debt, the likely success of any action taken to recover it and the costs of such action.

Turnover

Turnover is derived from the supply and installation of private leisure facilities and represents the value of work carried out during the year, whether invoiced in the year or not. If the income is not invoiced during the year, the appropriate amount is included and shown in the balance sheet as accrued income. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks and work in progress

Stocks and work in progress are stated at the lower of cost and net realisable value.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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, 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.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Other financial assets, including investments in equity instruments, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities:

Basic financial liabilities, including trade and other payables, and bank loans 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade payables 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 payment is due within one year. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual

obligation is discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings.

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

31,580

44,934

65,835

38,047

180,396

Additions

-

2,229

-

-

2,229

At 31 December 2024

31,580

47,163

65,835

38,047

182,625

DEPRECIATION

At 1 January 2024

25,769

22,224

19,496

33,772

101,261

Charge for year

581

2,424

11,584

1,068

15,657

At 31 December 2024

26,350

24,648

31,080

34,840

116,918

NET BOOK VALUE

At 31 December 2024

5,230

22,515

34,755

3,207

65,707

At 31 December 2023

5,811

22,710

46,339

4,275

79,135

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

26,270

DEPRECIATION

At 1 January 2024

10,279

Charge for year

3,997

At 31 December 2024

14,276

NET BOOK VALUE

At 31 December 2024

11,994

At 31 December 2023

15,991

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

45,000

NET BOOK VALUE

At 31 December 2024

45,000

At 31 December 2023

45,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

100,978

9,865

Other debtors

774,073

830,033

875,051

839,898

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

7,230

6,618

Trade creditors

188,687

193,720

Taxation and social security

259,247

189,593

Other creditors

1,045,966

1,156,177

1,501,130

1,546,108

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

3,193

10,422

Other creditors

205,000

215,500

208,193

225,922

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

38,787

"A" Ordinary

£1

38,787

38,787

9,697

"B" Ordinary

£1

9,697

9,697

48,484

48,484

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

£

A Kershaw

Balance outstanding at start of year

20,016

-

Amounts advanced

64,550

20,016

Amounts repaid

(65,060

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

19,506

20,016

During the year, interest of £450 at the rate of 2.25% was charged on the loan. The loan was repaid after the balance sheet date.

11.	RELATED PARTY DISCLOSURES

During the year, the Company:

- paid salaries of £18,120 (2023: £18,120) to its directors;

- was repaid £52,000 (2023: £52,000) by its parent company;

- paid £6,140 (2023: £189,240) to its directors; and

- agreed to pay loan interest of £20,500 (2023: £18,500) to its directors.

At the year-end, the Company:

- was owed £730,358 (2023: £782,358) by its parent company; and

- owed £209,362 (2023: £215,502) to its directors.

At the balance sheet date, £205,000 (2023: £215,500) of the loan from the directors is repayable after one year from the balance sheet date.).