REGISTERED NUMBER: 09814187 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Parsons Leisure Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Mann

REGISTERED OFFICE:

Wyvols Court

Basingstoke Road

Swallowfield

Reading

Berkshire

RG7 1WY

REGISTERED NUMBER:

09814187 (England and Wales)

ACCOUNTANTS:

J & C Accountants Ltd

Wyvols Court

Basingstoke Road

Swallowfield

Reading

Berkshire

RG7 1WY

FIXED ASSETS

Intangible assets

4

333,753

389,447

Tangible assets

5

2,222,229

2,238,334

2,555,982

2,627,781

CURRENT ASSETS

Stocks

20,610

19,405

Debtors

6

158,011

126,892

Cash at bank and in hand

23,021

7,045

201,642

153,342

CREDITORS

Amounts falling due within one year

7

553,134

465,679

NET CURRENT LIABILITIES

(351,492

)

(312,337

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,204,490

2,315,444

CREDITORS

Amounts falling due after more than one year

8

(2,700,476

)

(2,723,074

)

PROVISIONS FOR LIABILITIES

(30,833

)

(23,497

)

NET LIABILITIES

(526,819

)

(431,127

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(526,829

)

(431,137

)

SHAREHOLDERS' FUNDS

(526,819

)

(431,127

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 2 December 2025 and were signed by:

S Mann - Director

1.	STATUTORY INFORMATION

Parsons Leisure Limited is a private company, limited by shares, registered in England & Wales. The company's registered number is 09814187. The registered office address is Wyvols Court, Basingstoke Road, Swallowfield, Reading, RG7 1WY. The business address is Trunkwell House, Beech Hill Road, Beech Hill, Reading, RG7 2AT.

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on reducing balance, 15% on reducing balance and 2% 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.

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 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

834,999

AMORTISATION

At 1 January 2024

445,552

Charge for year

55,694

At 31 December 2024

501,246

NET BOOK VALUE

At 31 December 2024

333,753

At 31 December 2023

389,447

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

1,889,974

1,080,268

2,970,242

Additions

-

88,024

88,024

At 31 December 2024

1,889,974

1,168,292

3,058,266

DEPRECIATION

At 1 January 2024

302,392

429,516

731,908

Charge for year

37,799

66,330

104,129

At 31 December 2024

340,191

495,846

836,037

NET BOOK VALUE

At 31 December 2024

1,549,783

672,446

2,222,229

At 31 December 2023

1,587,582

650,752

2,238,334

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

8,806

68,505

Other debtors

149,205

58,387

158,011

126,892

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

75,125

106,257

Hire purchase contracts

-

5,015

Trade creditors

338,959

263,126

Taxation and social security

-

5,919

Other creditors

139,050

85,362

553,134

465,679

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

723,494

1,073,880

Amounts owed to group undertakings

1,976,982

1,649,194

2,700,476

2,723,074

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

457,949

648,852

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

798,619

1,180,137

The Royal Bank of Scotland holds four fixed and floating charges over the leasehold property known as Trunkwell Mansion House as well as the surrounding leasehold land.

10.	RELATED PARTY DISCLOSURES

During the year management charges of £259,136 (2023 £245,211) were paid to Parsons Care Limited, which owns 100% of the issued share capital of Parsons Leisure Limited.

At the year end a loan was owed to Parsons Care Limited of £1,976,982 (2023 £1,649,194). This loan is not interest bearing and has no set repayment terms.

11.	FUNDAMENTAL UNCERTAINTIES AFFECTING THE ACCOUNTS

The director draws attention to the deficiency of assets shown in the accounts caused by the impact of the COVID 19 pandemic on the business from which, it has never full recovered. The company has continued to trade through the support of its creditors and parent company and the financial statements have been drawn up on a going concern basis which assumes this support will continue.

Should the company be unable to continue trading, adjustments would have to be made to reduce the value of the assets to their recoverable amount, to provide for any further liabilities which might arise and to reclassify fixed assets and long term liabilities as current assets and current liabilities. The director has been unable to quantify the potential adjustment to the asset values which would be necessary in this situation, nor the further liabilities which would arise.