Hook House Leisure Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

Hook House Leisure Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10371901 . The registered office is Oakwood House Guildford Road, Bucks Green, Horsham, West Sussex, RH12 3JJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Subject to revaluation
Plant & Machinery	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	33% straight line

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.6. 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 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.

...CONTINUED

Page 3

Page 4

Hook House Leisure Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

2.6. Financial Instruments - continued

Classification of financial liabilities

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.

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.

2.7. Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.8. Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to

determine whether there is any indication that those assets have suffered an impairment loss. If any such

indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the

impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,

the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.9. Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion

of the company.

2.10. Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2023: 15)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 October 2023	2,000,000	11,297	2,112	2,966	2,016,375
Additions	-	404	-	-	404

As at 30 September 2024	2,000,000	11,701	2,112	2,966	2,016,779

Depreciation
As at 1 October 2023	-	3,086	1,135	2,418	6,639
Provided during the period	-	1,236	245	548	2,029

As at 30 September 2024	-	4,322	1,380	2,966	8,668

...CONTINUED

Page 4

Page 5

Hook House Leisure Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

Net Book Value
As at 30 September 2024	2,000,000	7,379	732	-	2,008,111

As at 1 October 2023	2,000,000	8,211	977	548	2,009,736

5. Stocks

	2024	2023
	£	£
Stock	2,200	1,450

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,195	4,480

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	3,674	5,728
Bank loans and overdrafts	5,000	6,442
Other loans	-	2,765
Other creditors	108,614	18,249
Taxation and social security	9,604	12,014

	126,892	45,198

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bounce back loan	30,151	33,474
Long term bank loan	795,000	795,000
Other creditors	299,153	313,922

	1,124,304	1,142,396

9. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

10. Reserves

	Revaluation Reserve
	£
As at 1 October 2023	1,205,000

As at 30 September 2024	1,205,000

Page 5

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,008,111		2,009,736

			2,008,111		2,009,736
CURRENT ASSETS
Stocks	5	2,200		1,450
Debtors	6	1,195		4,480
Cash at bank and in hand		2,822		193

		6,217		6,123
Creditors: Amounts Falling Due Within One Year	7	(126,892 )		(45,198 )

NET CURRENT ASSETS (LIABILITIES)			(120,675 )		(39,075 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,887,436		1,970,661

Creditors: Amounts Falling Due After More Than One Year	8		(1,124,304 )		(1,142,396 )

NET ASSETS			763,132		828,265

CAPITAL AND RESERVES
Called up share capital	9		100		100
Revaluation reserve	10		1,205,000		1,205,000
Profit and Loss Account			(441,968 )		(376,835 )

SHAREHOLDERS' FUNDS			763,132		828,265