Registration number: 13289559

MBFL Leisure Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

MBFL Leisure Limited

Company Information

Directors

F W Lee L Black

Registered office

590 Green Lanes Palmers Green London N13 5RY

Accountants

Thomas Alexander & Co Ltd Chartered accountants590 Green Lanes Palmers Green London N13 5RY

MBFL Leisure Limited

(Registration number: 13289559)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	15,000	17,500
Tangible assets	5	1,736,275	1,710,393
		1,751,275	1,727,893
Current assets
Stocks	6	43,400	39,000
Debtors	7	11,430	750
Cash at bank and in hand		70,517	229,747
		125,347	269,497
Creditors: Amounts falling due within one year	8	(1,303,641)	(1,529,027)
Net current liabilities		(1,178,294)	(1,259,530)
Net assets		572,981	468,363
Capital and reserves
Called up share capital	9	100	100
Retained earnings		572,881	468,263
Shareholders' funds		572,981	468,363

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 December 2025 and signed on its behalf by:
 

......................................... L Black Director

MBFL Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

These financial statements were authorised for issue by the Board on 10 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

MBFL Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	2% straight line method
Plant and machinery	25% reducing balance method

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

MBFL Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 5).

MBFL Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	25,000	25,000
At 31 March 2025	25,000	25,000
Amortisation
At 1 April 2024	7,500	7,500
Amortisation charge	2,500	2,500
At 31 March 2025	10,000	10,000
Carrying amount
At 31 March 2025	15,000	15,000
At 31 March 2024	17,500	17,500

5	Tangible assets

	Land and buildings £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	1,738,768	40,739	1,779,507
Additions	-	61,584	61,584
At 31 March 2025	1,738,768	102,323	1,841,091
Depreciation
At 1 April 2024	46,965	22,149	69,114
Charge for the year	15,655	20,047	35,702
At 31 March 2025	62,620	42,196	104,816
Carrying amount
At 31 March 2025	1,676,148	60,127	1,736,275
At 31 March 2024	1,691,803	18,590	1,710,393

Included within the net book value of land and buildings above is £1,676,148 (2024 - £1,691,803) in respect of freehold land and buildings.
 

MBFL Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Stocks

	2025 £	2024 £
Other inventories	43,400	39,000

7

Debtors

	2025 £	2024 £
Prepayments	10,680	-
Other debtors	750	750
	11,430	750

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	32,850	-
Taxation and social security	36,050	64,874
Accruals and deferred income	81,290	78,947
Other creditors	1,153,451	1,385,206
	1,303,641	1,529,027

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

MBFL Leisure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10	Related party transactions

Summary of transactions with other related parties

Directors
At the year end and included in other creditors is the amount of £557,062 (2024: £653,652) owed to L Black and £591,354 (2024: £731,349) owed to F Lee the directors of the company. While this loan is technically repayable on demand, the directors have no intention of recalling the loan for at least 12 months from the sign off date of these accounts.