ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

Registered number: 14938468

SDH LEISURE CLUB LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2025

SDH LEISURE CLUB LIMITED

COMPANY INFORMATION

Director	S J D De Haan


Registered number	14938468


Registered office	Eighth Floor
	6 New Street Square
	New Fetter Lane
	London
	EC4A 3AQ


Accountants	Rawlinson & Hunter LLP
	Chartered Accountants
	Eighth Floor
	6 New Street Square
	New Fetter Lane
	London
	EC4A 3AQ

SDH LEISURE CLUB LIMITED

CONTENTS

	Page
Balance Sheet	1 - 2
Notes to the Financial Statements	3 - 13

SDH LEISURE CLUB LIMITED

REGISTERED NUMBER: 14938468

BALANCE SHEET

AS AT 30 SEPTEMBER 2025

		2025		Restated 2024
Note		£		£

Fixed assets
Tangible assets	4		1,878,869		648,811
Investments	5		100		-
			1,878,969		648,811
Current assets
Stocks	6	22,480		8,612
Debtors: amounts falling due after more than one year	7	9,000		9,000
Debtors: amounts falling due within one year	7	116,169		80,871
Cash at bank and in hand	8	27,269		10,058
		174,918		108,541
Creditors: amounts falling due within one year	9	(1,778,662)		(434,317)
Net current liabilities			(1,603,744)		(325,776)
Total assets less current liabilities			275,225		323,035
Creditors: amounts falling due after more than one year	10		(538,303)		(337,852)

Net liabilities			(263,078)		(14,817)

Capital and reserves
Called up share capital	14	100	100
Other reserves	15	242,426	117,403
Profit and loss account	15	(505,604)	(132,320)
		(263,078)	(14,817)

Page 1

SDH LEISURE CLUB LIMITED

REGISTERED NUMBER: 14938468

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2025

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

S J D De Haan

Director

Date: 9 December 2025

The notes on pages 3 to 13 form part of these financial statements.

Page 2

SDH LEISURE CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1.	General information

SDH Leisure Club Limited is a private company, limited by shares, incorporated in England and Wales with registration number 14938468. The registered office address is Eighth Floor, 6 New Street Square, New Fetter Lane, London, EC4A 3AQ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes the continued financial support of the director, who has provided confirmation of his intention to provide such financial support as is neccessary for the company to continue its operations for the foreseeable future and at least 12 months from the date of signing of the financial statements.

2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

2.4

Exemption from preparing consolidated financial statements

The company and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for exemption to prepare consolidated accounts.

Page 3

SDH LEISURE CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the company has transferred the significant risks and rewards of ownership to the buyer;

∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.6

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

Page 4

SDH LEISURE CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.9

Borrowing costs

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

2.10

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements	-	Over term of the lease
Motor vehicles	-	7 years straight line
Fixtures and fittings	-	5 years straight line
Computer equipment	-	4 years straight line
Gym Equipment	-	Over term of the lease

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 5

SDH LEISURE CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.17

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are

Page 6

SDH LEISURE CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.17

Financial instruments (continued)

initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Employees

The average monthly number of employees, including directors, during the year was 15 (2024 - 1).

Page 7


		SDH LEISURE CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

	4.	Tangible fixed assets

	Leasehold improvements	Motor vehicles	Fixtures and fittings	Computer equipment	Gym Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 October 2024	601,037	-	43,694	4,172	-	648,903
Additions	1,008,197	106,196	114,313	1,205	156,423	1,386,334
At 30 September 2025	1,609,234	106,196	158,007	5,377	156,423	2,035,237
Depreciation
At 1 October 2024	-	-	-	92	-	92
Charge for the year	120,252	2,528	20,210	1,068	12,218	156,276
At 30 September 2025	120,252	2,528	20,210	1,160	12,218	156,368
Net book value
At 30 September 2025	1,488,982	103,668	137,797	4,217	144,205	1,878,869
At 30 September 2024	601,037	-	43,694	4,080	-	648,811

Page 8

SDH LEISURE CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	Additions	100
	At 30 September 2025	100

6.	Stocks
		2025	2024
		£	£

	Finished goods and goods for resale	22,480	8,612

7.	Debtors
		2025	2024
		£	£

Due after more than one year
Other debtors	9,000	9,000

					2025	2024
					£	£

Due within one year
Trade debtors	16,006	2,115
Other debtors	40,218	77,266
Prepayments and accrued income	59,945	1,490
	116,169	80,871

Page 9

SDH LEISURE CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

8.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	27,269	10,058

9.	Creditors: Amounts falling due within one year
		2025	Restated 2024
		£	£

Other loans	9,791	52,083
Trade creditors	325,114	95,257
Amounts owed to group undertakings	100	-
Other taxation and social security	4,170	1,193
Obligations under finance lease and hire purchase contracts	32,358	-
Other creditors	1,252,313	233,681
Accruals and deferred income	154,816	52,103
	1,778,662	434,317

10.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Other loans	350,302	337,852
Net obligations under finance leases and hire purchase contracts	188,001	-

Page 10

SDH LEISURE CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Amounts falling due within one year
Other loans	9,791	52,083
	9,791	52,083
Amounts falling due 1-2 years
Other loans	350,302	337,852

In May 2024 a loan facility of £500,000 was taken out with a related party. During the period ended 30 September 2024, £500,000 was drawn down. During the year to 30 September 2025, an additional loan extension of £65,265 was provided and drawn down. The loan is interest free and repayable by June 2035. Loan discounting has been calculated to adjust the loan for present value.

Within one year	32,358	-
Between 1-5 years	188,001	-
	220,359	-

13.	Financial instruments
		2025	2024
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	27,269	10,058

Financial assets measured at fair value through profit or loss comprise of cash in bank and in hand.

Page 11

SDH LEISURE CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

14.	Share capital
		2025	2024
		£	£

Allotted, called up and unpaid

100 (2024 - 100) Ordinary shares of £1.00 each	100	100

Upon incorporation, 100 ordinary shares were issued at par value.

15.

Reserves

Other reserves

The £9,791 “Other loans” included in Note 9 and £350,302 “Other loans” included in Note 10, relate to a loan of £565,265 from a related party, which is interest free, and repayable by June 2035. As the loan has been provided at below market rate, FRS102 requires the loan to be measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost using the effective interest method. The director has assessed the market rate of interest to be 9.75% on the date of the first drawdown. The difference between the book value and the fair value on each drawdown is recognised as a capital contribution in other reserves. The capital contribution amounted to £242,426 (2024 - £117,403) for the year ended 30 September 2025.

16.	Pension commitments

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. Contributions totalling £825 (2024 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

Not later than 1 year	284,750	6,000
Later than 1 year and not later than 5 years	608,250	138,000
	893,000	144,000

During the year, a 10 year lease was signed, with a 5 year break clause, for £140,000 per annum, stepped up £5k in installments per year to £160k per annum by the end of the break clause.

Page 12

SDH LEISURE CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

18.	Prior year adjustment

During the year, it has been identified that rent and accruals were overstated in the prior year by £16,200. This error has been corrected by restating the comparative figures.

Page 13