REGISTERED NUMBER: 09491041 (England and Wales)

Financial Statements

for the Period 1st April 2024 to 31st December 2024

for

Futures Leisure Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr T I McClure

Mr D E Melhus

Mr P I Haagaas

REGISTERED OFFICE:

Unit 5 Britannia Road

Patchway

Bristol

BS34 5TA

REGISTERED NUMBER:

09491041 (England and Wales)

SENIOR STATUTORY AUDITOR:

Matthew Dobbins FCA

AUDITORS:

Dunkley's

Statutory Auditor

Chartered Accountants

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Tangible assets

5

2,817,499

2,634,493

Investments

6

74,562

74,562

2,892,061

2,709,055

CURRENT ASSETS

Stocks

172,794

113,936

Debtors

7

1,040,486

958,915

Cash at bank and in hand

234,509

638,190

1,447,789

1,711,041

CREDITORS

Amounts falling due within one year

8

2,392,640

2,098,456

NET CURRENT LIABILITIES

(944,851

)

(387,415

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,947,210

2,321,640

CREDITORS

Amounts falling due after more than one year

9

-

(182,703

)

PROVISIONS FOR LIABILITIES

(276,629

)

(392,083

)

NET ASSETS

1,670,581

1,746,854

CAPITAL AND RESERVES

Called up share capital

11

3

3

Share premium

291,181

291,181

Retained earnings

1,379,397

1,455,670

SHAREHOLDERS' FUNDS

1,670,581

1,746,854

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 19th December 2025 and were signed on its behalf by:

Mr T I McClure - Director

1.	STATUTORY INFORMATION

Futures Leisure 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods

Revenue arises from the sale of merchandise. Revenue is recognised when the customer accepts delivery of the goods.

Rendering of services

The services provided generally take place on a single day, or over-night.

Revenue is recognised on customer arrival and is measured at the fair value of the consideration received.

Revenue for advance bookings is deferred and recognised on customer arrival or in the case of cancelled

bookings on the date of cancellation.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

4% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

Straight line over 3 years

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument 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 future receipts discounted at a market rate of interest. Financial assets are classified as receivable within one year are not amortised.

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 constitute a financing transaction, where the debt instrument is measured at 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.

Taxation

Taxation for the period 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the profit or loss.

A subsidiary is an entity controlled by the company. Control is power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 218 (2024 - 169 ) .

4.	AUDITORS' REMUNERATION

Period

1/4/24

to

Year Ended

31/12/24

31/3/24

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

11,200

-

Auditors' remuneration for non audit work

1,200

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1st April 2024

1,054,260

2,781,017

609,393

Additions

1,468,242

447,295

291,255

Disposals

(1,400,000

)

-

-

At 31st December 2024

1,122,502

3,228,312

900,648

DEPRECIATION

At 1st April 2024

187,813

1,420,737

251,107

Charge for period

21,866

283,726

323,705

At 31st December 2024

209,679

1,704,463

574,812

NET BOOK VALUE

At 31st December 2024

912,823

1,523,849

325,836

At 31st March 2024

866,447

1,360,280

358,286

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st April 2024

38,100

236,594

4,719,364

Additions

-

82,846

2,289,638

Disposals

-

-

(1,400,000

)

At 31st December 2024

38,100

319,440

5,609,002

DEPRECIATION

At 1st April 2024

20,082

205,132

2,084,871

Charge for period

8,150

69,185

706,632

At 31st December 2024

28,232

274,317

2,791,503

NET BOOK VALUE

At 31st December 2024

9,868

45,123

2,817,499

At 31st March 2024

18,018

31,462

2,634,493

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st April 2024

and 31st December 2024

74,562

NET BOOK VALUE

At 31st December 2024

74,562

At 31st March 2024

74,562

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.3.24

£

£

Trade debtors

6,180

552,221

Amounts owed by group undertakings

449,297

23,263

Other debtors

188,148

32,934

Prepayments and accrued income

396,861

350,497

1,040,486

958,915

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.3.24

£

£

Bank loans and overdrafts

-

100,000

Trade creditors

608,710

948,396

Amounts owed to group undertakings

844,324

883,505

Tax

19,218

(246,159

)

Social security and other taxes

23,387

17,141

VAT

137,325

50,276

Other creditors

414,358

(71,449

)

Directors' current accounts

-

2,084

Accruals and deferred income

345,318

414,662

2,392,640

2,098,456

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.3.24

£

£

Bank loans - 1-2 years

-

149,700

Other loans more 5yrs non-inst

-

33,003

-

182,703

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

-

33,003

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.3.24

£

£

Within one year

1,037,750

717,250

Between one and five years

3,154,333

1,480,458

In more than five years

2,955,688

1,009,375

7,147,771

3,207,083

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.3.24

value:

£

£

261

Ordinary

£0.01

3

3

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

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note seventeen to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Limitation of scope regarding stock

We were not appointed as auditor of the company until after 31 March 2024 and thus did not observe the counting of physical inventories at the end of the comparative period. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 March 2024, which are included in the balance sheet at £113,936. Consequently we were unable to determine whether any adjustment to this amount was necessary.

Limitation of scope regarding comparative accruals

Adequate audit work could not be undertaken on comparative accruals due to the lead schedule not matching the year end balance.

The total value of accruals at the comparative year end that could not be inspected has a value of £156,722, which represents 49% of the comparative balance.

Limitation of scope regarding comparative administrative expenditure

Adequate audit work could not be undertaken on the comparative administrative expenditure due to missing records.

The total value of administrative expenditure records in the comparative period that could not be inspected has a value of £121,392 which represents 26% of transactions sampled. When extrapolated, there is a possible limitation of scope of £427,997.

Limitation of scope regarding comparative fixed asset additions

Adequate audit work could not be undertaken on the fixed asset additions due to missing records.

The total value of additions in the comparative period that could not be inspected has a value of £76,795 which represents 21% of transactions sampled. When extrapolated, there is a possible limitation of scope of £90,720.

Limitation of scope regarding comparative prepayments

Adequate audit work could not be undertaken on the comparative prepayments due to missing records.

The total value of accrued income held that could not be expected had a balance of £119,732 which represents 44% of the total year end balance.

Because the opening balances form part of the figures used in the determination of the results for the period ended 31 December 2024, we were unable to determine whether any adjustments might be necessary to the comparative information and the corresponding figures for the current period.

Matthew Dobbins FCA (Senior Statutory Auditor)

for and on behalf of Dunkley's

15.	PENSION COMMITMENTS

During the year, the company operated a defined contribution pension scheme through an external provider.

Employer contributions to the scheme for the period totalled £14,202 (March 2024 £20,056).

Accrued pension contributions outstanding at the balance date totalled £3,678 (March 2024 £3,249).

16.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

17.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

18.	ULTIMATE CONTROLLING PARTY

The parent of the smallest group for which consolidated financial statements are drawn up of which this company is a member is Activeon AS, a company registered in Norway.

The parent of the largest group for which consolidated financial statements are drawn up of which this company is a member is Activeon AS, a company registered in Norway.

The registered office of the parent is Vollsveien 2a, 1366 Lysaker, Norway.