REGISTERED NUMBER: 09261501 (England and Wales)

SOUTH DOWNS LEISURE ENTERPRISES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D G Anderson

Miss P L Newton

REGISTERED OFFICE:

Field Place

The Boulevard

WORTHING

BN13 1NP

REGISTERED NUMBER:

09261501 (England and Wales)

AUDITORS:

McCabe Ford Williams

Statutory Auditors and Chartered Accountants

Building 1063

Cornforth Drive

Kent Science Park

Sittingbourne

Kent

ME9 8PX

FIXED ASSETS

Tangible assets

5

101,832

94,808

CURRENT ASSETS

Debtors

6

389,164

40,098

Cash at bank and in hand

72,792

430,184

461,956

470,282

CREDITORS

Amounts falling due within one year

7

214,671

273,861

NET CURRENT ASSETS

247,285

196,421

TOTAL ASSETS LESS CURRENT LIABILITIES

349,117

291,229

PROVISIONS FOR LIABILITIES

5,593

25,124

NET ASSETS

343,524

266,105

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

343,523

266,104

SHAREHOLDERS' FUNDS

343,524

266,105

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 Income Statement 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:

Mr D G Anderson - Director

1.	STATUTORY INFORMATION

South Downs Leisure Enterprises 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets and the deferred income creditor relating to bookings for future events.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Fixed assets costing in excess of £5,000 are shown in the financial statements at cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Fixtures and Fittings: 20% on cost or straight line over remaining term of the lease.

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) 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.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed, to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Inventories are also assessed for impairment at each reporting date. Each item of inventory is compared to the last sold date and an impairment loss recognised on a percentage basis in profit and loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern

Having weathered the instability of gas and electricity supplies and the volatile prices caused by the war in Ukraine, the parent company continues to purchase utilities through a broker, to hedge and contract our purchasing ahead of time. We continue to keep our People, Profit, Planet mantra first and foremost and apply this to all decisions.

The wedding industry continues to evolve with couples looking for more bespoke weddings. Since training two celebrants in December 2022, we have seen increasing demand for their services and the inclusion in wedding packages has proved popular. This remains a great USP. The industry remains very competitive, however, having won three national wedding industry awards over the last few years, and with our Weddings and Events manager becoming a TWIA judge, we feel that we have a strong presence in the industry and are investigating ways to continue to improve and expand our offering.

We are continuing to invest in our buildings and have increased our IT capabilities to ensure that we are able to offer competitive facilities to our corporate customers. We signed a long-term corporate contract which will give us a reliable income for the next few years.

By investing in our people, premises and products we believe that we are able to provide an excellent service and by continuing to strive for improvements we aim to increase both our corporate and wedding sales.

The Board of Trustees has considered the current economic climate and are satisfied that, assuming customer's behaviour is in line with industry expectations, that it will be able to meet all its obligations as and when they fall due. Accordingly, they consider it appropriate to continue to prepare the financial statements on a going concern basis.

The Board do not consider that there are any material uncertainties that would impact this assessment.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

238,088

Additions

15,710

At 31 March 2025

253,798

DEPRECIATION

At 1 April 2024

143,280

Charge for year

8,686

At 31 March 2025

151,966

NET BOOK VALUE

At 31 March 2025

101,832

At 31 March 2024

94,808

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

80,140

24,348

Amounts owed by group undertakings

295,357

-

Prepayments and accrued income

13,667

15,750

389,164

40,098

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

6,851

8,998

Amounts owed to group undertakings

-

134,249

Other taxes and PAYE taxes

18,991

11,642

Accruals and deferred income

188,829

118,972

214,671

273,861

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1

Ordinary

1

1

1

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Clair Rayner FCA DChA (Senior Statutory Auditor)

for and on behalf of McCabe Ford Williams

10.	RELATED PARTY DISCLOSURES

During the year costs were recharged between South Downs Leisure Enterprises and the parent for wages, rent, management charges and VAT. As at 31 March 2025 South Downs Leisure Enterprises was owed £295,357 by the parent (2024: owed £134,249 to the parent).

11.	PARENT COMPANY AND ULTIMATE CONTROLLING PARTY

South Downs Leisure is both the parent company as well as the ultimate controlling party.