ACCOUNTS - Final Accounts

Registered number: 12673375

L3 LEISURE LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

L3 LEISURE LIMITED

REGISTERED NUMBER: 12673375

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	4,537		4,344
Cash at bank and in hand	5	13,006		9,748
		17,543		14,092
Creditors: amounts falling due within one year	6	(382,566)		(292,742)
Net current liabilities			(365,023)		(278,650)

Net liabilities			(365,023)		(278,650)

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(365,123)	(278,750)
		(365,023)	(278,650)

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 statement of income and retained earnings 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 on 9 December 2025.

J K Player

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

L3 LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

L3 Leisure Limited (the “Company”) is a Company limited by shares, incorporated in England and Wales. Its registered office is 140 Broomfield Road, Chelmsford, Essex, England, CM1 1RN.

The principal activity of the Company is that of public houses and bars.

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

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Blackwater Partners Limited as at 31 March 2025 and these financial statements may be obtained from Companies House.

2.3

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.

Page 2

L3 LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Going concern

The financial statements have been prepared on a going concern basis based on the full support of the parent company Blackwater Partners Limited. As a result the directors are confident that the financial statements should continue to be prepared on a going concern basis.

The directors have considered the ability of the Company to continue as a Going Concern. In making their assessment the directors have prepared and critically reviewed the Company's cash flow forecast for the next 12 months and ensured that this forecast is modelled on a suitably cautious basis.

Based on these assessments the directors have concluded that the Company has adequate resources to continue in existence for the forseeable future as a Going Concern and accordingly these financial statements have been prepared on that basis

2.5

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.

2.6

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.

2.7

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.

2.8

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.

Page 3

L3 LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

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.

Employees

The average monthly number of employees, including directors, during the year was 10 (2024 - 15).

Debtors

					2025	2024
					£	£


Other debtors	100	100
Prepayments and accrued income	4,437	4,244
	4,537	4,344

5.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	13,006	9,748

Page 4

L3 LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

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

Trade creditors	14,610	7,832
Amounts owed to group undertakings	360,854	277,238
Other taxation and social security	6,221	7,187
Other creditors	881	485
	382,566	292,742

7.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

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

8.	Pension commitments

The Company makes contributions to the personal pension plans of certain employees. The pension cost charge represents contributions payable by the Company and amounted to £2,283 (2024 - £2,175). Contributions totalling £881 (2024 - £485) were outstanding at the balance sheet date.

9.	Contingent liabilities

The Company has entered into a cross guarantee debenture with its subsidiaries in respect of bank
borrowings. The potential liability at the balance sheet date is £6,175,468 (2024 - £5,205,082).

10.	Related party transactions
	The Company has taken advantage of the exemption, under FRS 102 paragraph 1.12 and paragraph 33.1A, from disclosing transactions with key management and from disclosing other related party transactions as they are with other companies that are wholly owned within the Group.

11.	Controlling party

The Company’s parent undertaking is Blackwater Partners Limited. Copies of its group accounts are publicly available from Companies House. These group accounts comprise all companies for which group accounts are prepared.

Page 5

L3 LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

12.	Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 15 December 2025 by Simon Liggins (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.

Page 6