Company registration number 03763413 (England and Wales)
ANDREW BROWN LEISURE LIMITED
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
ANDREW BROWN LEISURE LIMITED
COMPANY INFORMATION
Directors
S Brown
O Brown
O Foucre
H A Lord
A W Brown
S Burge
Company number
03763413
Registered office
Crow Wood Leisure Centre
Holme Road
Burnley
Lancashire
United Kingdom
BB12 0RT
Auditor
Azets Audit Services
Crown House
Bridgewater Close
Burnley
Lancashire
United Kingdom
BB11 5TE
ANDREW BROWN LEISURE LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 6
Directors' responsibilities statement
7
Independent auditor's report
8 - 10
Group statement of comprehensive income
11
Group balance sheet
12
Company balance sheet
13
Group statement of changes in equity
14
Company statement of changes in equity
15
Group statement of cash flows
16
Notes to the financial statements
17 - 31
ANDREW BROWN LEISURE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 1 -

The directors present the strategic report for the year ended 30 April 2025.

Fair review of the business

The group consists of two companies which are as follows:

- Andrew Brown Leisure Limited

- Crow Wood Leisure Limited

The company's principal activity is that of a holding company, fixed assets and group loans. The group's principal activities are that of a leisure centre, hotel and restaurant operators.

The consolidated financial statements present the accounts of the group as a single entity for the year ended 30 April 2025.

This financial year saw the completion of our two-year project which has now doubled the size of our award-winning Spa, totally refurbished our leisure facilities and increased the size of Bertrams restaurant by approximately 50%.

To integrate the new and existing Spa facilities we had to close very significant parts of our operation for approximately 3 months. This has obviously had a knock effect on our hotel occupancy and hugely impacted our revenues and profit.

Our new facilities now represent what we believe to be the largest Spa in the U.K., and we are confident the quality and diversity of facilities will maintain our position as the one of the U.K.’s most iconic Spa’s.

The investment over these last two years has totalled £19.5m, £13.5m of which was provided by Nat West and the balance self-funded.

Our senior debt peaked at the 30 th September at approximately £18,850,000 and at year end (April 30 th) was £17,100,000.

Like all hospitality business’s, we have faced enormous increases in energy, payroll, relatively high interest rates and increasing bureaucracy. Latterly the increase in NMW will have serious consequences for many in the sector.

Our Spa has already surpassed our business plan targets and continues to break records; in June 2025 we won “Best Hotel Spa in the U.K.” for the fourth year running at the industry’s most prestigious award ceremony.

Our gym has also produced record results following the significant investment.

Two of our restaurants retained their respective A.A. status.

In June 2024 we commissioned a £1m solar array which has performed above expectations in the last 12 months and will provide approximately 30% of our needs for the next 25 years.

During the year we donated £75,000 to 2 local charities, Pendleside Hospice and Burnley Community Grocery, a local food bank.

As I am now 67 years of age, I have passed over the role of Managing Director to my son Oliver, I remain involved in the business on a part time basis and will continue as Chairman for the foreseeable future.

We employ well over 400 local people and have a very well established and highly motivated Management team. Despite the challenges, we are confident 2025/6 will produced record sales and bottom-line profit, whilst significantly reducing debt.

ANDREW BROWN LEISURE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
Principal risks and uncertainties

Market and Economic Risk

The Group is exposed to fluctuations in the broader UK economic environment, including changes in consumer discretionary spending and inflationary pressures affecting operational costs. The directors are confident that the quality and diversity of facilities across the complex will help to mitigate any impact.

Financial and Liquidity Risk

The Group is subject to typical financial risks including management of cash flows and the ability to fund future capital projects. This risk is managed by maintaining a balance between the continuity of funding and flexibility, through the use of overdrafts at the floating rate of interest.

Credit Risk

The Group offers credit terms to customers and hence is exposed to the associated risks. These risks are managed via the monitoring of amounts outstanding for both time and credit limits.

Key performance indicators

The key performance indicators of the group are considered to be turnover, gross profit margin, profit before tax and EBITDA.

| 2025 | 2024
| £ | £
Turnover | 19,212,450 | 16,991,000
Gross profit | 8,601,103 | 7,250,329
Profit before taxation EBITDA | 866,635 3,608,695 | 1,216,911 3,293,813
Profit and loss reserves | 5,898,770 | 5,332,135

Section 172 Companies Act 2006 Statement

Overview

The group aims to build profits and shareholder value in a sustained and ethical manner over the long term, taking account of the interests of all stakeholders of the group.

Stakeholders

The Board and Senior Management Team within the group actively engage with a wide range of stakeholders who are impacted by the operations and success of the group.

The group is long established and independently owned providing for a strong heritage and deep understanding of our customers, suppliers, community and environment.

The shareholders of the group maintain an active role in the management of the business. The group is headed by Andrew Brown Leisure Limited and therefore all subsidiaries are subject to and abide by group policies and procedures. The directors ensure that all major decisions which could potentially impact members of the group are discussed at board level. Weekly operations meetings are held, and any decisions are discussed with senior members of all departments to ensure that all potential impacts are considered.

Matters regarding 'Employee consultation' and 'Business relationships' have been detailed within the Directors' Report.

The group is involved in numerous initiatives to reduce its impact on the environment, as disclosed below and within the 'Streamlined Energy and Carbon Reporting' section of the Directors' Report.

ANDREW BROWN LEISURE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -

The impact of the group’s operations on the community and its environment

The group aims to recruit employees from the local area and strives to improve employment opportunities for local people. The local knowledge that these employees possess means they are able to offer recommendations to our customer base, which helps not only to benefit the wider local economy but aids in providing a high quality service.

The hotel is fitted out with energy efficient lighting, including lights in the corridors which are operated on a sensor basis, to minimise energy usage.

During the year, the group worked with the Ribble Rivers Trust to plant several thousand native trees across the group’s site as we continue to enhance our 50 acre Deer and Wildlife sanctuary.

The desirability of the group to maintaining a reputation for high standards of business conduct

The Woodland Spa has won various awards and has also received international recognition. The group works hard to deliver a high quality and sophisticated experience.

The group continues to engage with the local community in keeping the section of the River Calder, which runs through the group’s site, clear of any debris.

On behalf of the board

A W Brown
Director
29 January 2026
ANDREW BROWN LEISURE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -

The directors present their annual report and financial statements for the year ended 30 April 2025.

Results and dividends

The results for the year are set out on page 11.

No ordinary dividends were paid. The directors do not recommend a dividend payment on the group results.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

S Brown
O Brown
O Foucre
H A Lord
A W Brown
S Burge
Financial instruments

The business' principal financial instruments comprise bank balances, bank loans and overdrafts, trade debtors, trade creditors, other loans and hire purchase agreements. The main purpose of these instruments is to finance the business' operations and the development of its facilities.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. All of the business' cash balances are held in such a way that achieves a competitive rate of interest.

The group bank borrowings are variable interest loan arrangements.

Trade debtors are managed in respect of credit and cash flow risk in policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debts.

Trade creditors risk is managed by ensuring sufficient funds are available to meet amounts due.

Other loans comprise loans from the directors and other individuals.

Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The group's policy is to consult and discuss with employees, through staff councils and at meetings, matters likely to affect employees' interests.

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

The group provides management training courses. Employees are given clear career paths and the group focuses on promotion from within.

ANDREW BROWN LEISURE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -

Employee engagement

The board recognise that employees are fundamental to the success of the business. The group offers a range of employee benefits, including a free gym membership. The company continues to issue regular correspondence to employees to keep them informed of the group’s current and future plans. The group’s hotel, spa and leisure facilities have a reputation for providing a high quality service and one of the key elements which makes this possible is the employees. By acting in the interest of employees, it means that the group can continue to offer exceptional customer service throughout all of its facilities.

Business relationships

The group also places considerable value on the engagement of customers and suppliers. The group understands the benefit of having strong relationships with suppliers and worked closely with them over the past couple of years to ensure they continued to be paid in line with payment terms. The group is reaping the benefits of these strong supply chains and is a priority when it comes to the delivery of products. Our customers are of paramount importance and the group seeks to retain customers and establish long lasting relationships with them, which is underpinned by providing exceptional levels of customer service.

Auditor

The auditor, Azets Audit Services, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Energy and carbon report
2025
2024
Energy consumption
kWh
kWh
Aggregate of energy consumption in the year
- Gas combustion
7,895,079
6,614,268
- Electricity purchased
609,428
2,288,824
8,504,507
8,903,092
2025
2024
Emissions of CO2 equivalent
metric tonnes
metric tonnes
Scope 1 - direct emissions
- Gas combustion
1,600.00
1,340.00
- Fuel consumed for owned transport
-
-
1,600.00
1,340.00
Scope 2 - indirect emissions
- Electricity purchased
108.00
474.00
Scope 3 - other indirect emissions
- Fuel consumed for transport not owned by the
-
-
Total gross emissions
1,708.00
1,814.00
Intensity ratio
Tonnes CO2e per £1,000,000 revenue
89
113
Quantification and reporting methodology

The group has followed the 2019 HM Government Environmental Reporting Guidelines. The group has also used the GHG Reporting Protocol – Corporate Standard and have used the 2020 UK Government’s Conversion Factors for Company Reporting.

ANDREW BROWN LEISURE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
Intensity measurement

To compare the emissions efficiency of the business year on year as the business changes, metrics have been used to analyse emissions and to measure progress. These intensity metrics consider the growth of the business and act as a measure of business performance and emissions. The company have utilised the revenue during the financial year to determine the tonnage of CO2 (equivalent) per £1,000,000 generated as the intensity ratio.

Measures taken to improve energy efficiency

During the construction of the hotel facilities, the group ensured that energy efficient lighting was used. Lights within the corridors of the hotel are operated on a sensor basis, which assists in reducing electricity usage and thus any excess emissions generated.

During the financial year, the company completed construction of a 1 megawatt Solar farm which will generate approximately 30% of the companies overall electricity for the next 25 years.

The group has acquired electric cars when possible in order to reduce emissions generated. When group car leases expire, it is group policy to replace these with electric alternatives when possible.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
A W Brown
Director
29 January 2026
ANDREW BROWN LEISURE LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 APRIL 2025
- 7 -

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ANDREW BROWN LEISURE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ANDREW BROWN LEISURE LIMITED
- 8 -
Opinion

We have audited the financial statements of Andrew Brown Leisure Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 30 April 2025 and of the group's profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

ANDREW BROWN LEISURE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ANDREW BROWN LEISURE LIMITED
- 9 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

ANDREW BROWN LEISURE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ANDREW BROWN LEISURE LIMITED
- 10 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Julie Flintoff (Senior Statutory Auditor)
For and on behalf of Azets Audit Services
5 February 2026
Chartered Accountants
Statutory Auditor
Crown House
Bridgewater Close
Burnley
Lancashire
United Kingdom
BB11 5TE
ANDREW BROWN LEISURE LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2025
- 11 -
2025
2024
Notes
£
£
Turnover
3
19,212,450
16,991,000
Cost of sales
(10,611,347)
(9,740,671)
Gross profit
8,601,103
7,250,329
Administrative expenses
(6,321,408)
(5,126,264)
Operating profit
5
2,279,695
2,124,065
Interest receivable and similar income
7
8,614
685
Interest payable and similar expenses
8
(1,421,674)
(907,839)
Profit before taxation
866,635
1,216,911
Tax on profit
9
(300,000)
(255,000)
Profit for the financial year
566,635
961,911
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
ANDREW BROWN LEISURE LIMITED
GROUP BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 12 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
37,856,155
32,783,617
Current assets
Stocks
13
324,166
276,768
Debtors
14
377,341
373,465
Cash at bank and in hand
80,371
63,138
781,878
713,371
Creditors: amounts falling due within one year
15
(10,730,339)
(9,025,486)
Net current liabilities
(9,948,461)
(8,312,115)
Total assets less current liabilities
27,907,694
24,471,502
Creditors: amounts falling due after more than one year
16
(15,541,817)
(12,972,260)
Provisions for liabilities
Deferred tax liability
19
(2,455,000)
(2,155,000)
(2,455,000)
(2,155,000)
Net assets
9,910,877
9,344,242
Capital and reserves
Called up share capital
21
3,743,968
3,743,968
Share premium account
251,139
251,139
Capital redemption reserve
17,000
17,000
Profit and loss reserves
5,898,770
5,332,135
Total equity
9,910,877
9,344,242
The financial statements were approved by the board of directors and authorised for issue on 29 January 2026 and are signed on its behalf by:
29 January 2026
O Brown
Director
Company registration number 03763413 (England and Wales)
ANDREW BROWN LEISURE LIMITED
COMPANY BALANCE SHEET
AS AT 30 APRIL 2025
30 April 2025
- 13 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
25,848,838
24,668,431
Investments
11
1
1
25,848,839
24,668,432
Current assets
Debtors
14
2,212,166
107,603
Cash at bank and in hand
962
-
0
2,213,128
107,603
Creditors: amounts falling due within one year
15
(5,583,571)
(5,433,820)
Net current liabilities
(3,370,443)
(5,326,217)
Total assets less current liabilities
22,478,396
19,342,215
Creditors: amounts falling due after more than one year
16
(15,470,332)
(12,921,352)
Provisions for liabilities
Deferred tax liability
19
(1,450,000)
(1,250,000)
(1,450,000)
(1,250,000)
Net assets
5,558,064
5,170,863
Capital and reserves
Called up share capital
21
3,743,968
3,743,968
Share premium account
251,139
251,139
Capital redemption reserve
17,000
17,000
Profit and loss reserves
1,545,957
1,158,756
Total equity
5,558,064
5,170,863

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £387,201 (2024 - £45,319 profit).

The financial statements were approved by the board of directors and authorised for issue on 29 January 2026 and are signed on its behalf by:
29 January 2026
O Brown
Director
Company registration number 03763413 (England and Wales)
ANDREW BROWN LEISURE LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 14 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
£
Balance at 1 May 2023
3,743,968
251,139
17,000
4,370,224
8,382,331
Year ended 30 April 2024:
Profit and total comprehensive income
-
-
-
961,911
961,911
Balance at 30 April 2024
3,743,968
251,139
17,000
5,332,135
9,344,242
Year ended 30 April 2025:
Profit and total comprehensive income
-
-
-
566,635
566,635
Balance at 30 April 2025
3,743,968
251,139
17,000
5,898,770
9,910,877
ANDREW BROWN LEISURE LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 15 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
£
Balance at 1 May 2023
3,743,968
251,139
17,000
1,113,437
5,125,544
Year ended 30 April 2024:
Profit and total comprehensive income for the year
-
-
-
45,319
45,319
Balance at 30 April 2024
3,743,968
251,139
17,000
1,158,756
5,170,863
Year ended 30 April 2025:
Profit and total comprehensive income
-
-
-
387,201
387,201
Balance at 30 April 2025
3,743,968
251,139
17,000
1,545,957
5,558,064
ANDREW BROWN LEISURE LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
- 16 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
4,270,053
3,504,949
Interest paid
(1,421,674)
(907,839)
Income taxes refunded
-
0
2,462
Net cash inflow from operating activities
2,848,379
2,599,572
Investing activities
Purchase of tangible fixed assets
(6,473,450)
(10,615,741)
Proceeds from disposal of tangible fixed assets
99,500
27,300
Interest received
8,614
685
Net cash used in investing activities
(6,365,336)
(10,587,756)
Financing activities
Proceeds from new bank loans
6,329,112
8,079,570
Repayment of bank loans
(2,844,257)
(288,267)
Payment of finance leases obligations
39,746
(37,903)
Net cash generated from financing activities
3,524,601
7,753,400
Net increase/(decrease) in cash and cash equivalents
7,644
(234,784)
Cash and cash equivalents at beginning of year
60,673
295,457
Cash and cash equivalents at end of year
68,317
60,673
Relating to:
Cash at bank and in hand
80,371
63,138
Bank overdrafts included in creditors payable within one year
(12,054)
(2,465)
ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 17 -
1
Accounting policies
Company information

Andrew Brown Leisure Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office and principal place of business is Crow Wood Leisure Centre, Holme Road, Burnley, Lancashire, BB12 ORT.

The group consists of Andrew Brown Leisure Limited and its subsidiary Crow Wood Leisure Limited.

The group's principal activities and nature of operations are detailed in the Strategic Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 18 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Andrew Brown Leisure Limited together with all entities controlled by the parent company (its subsidiaries).

All financial statements are made up to 30 April 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future, despite net current liabilities of £9,948,461.

The directors are optimistic about future trading performance as bookings continue to be made across all facilities offered within the company’s trading sectors. During the year, th e group completed the construction of a major project which has double d the size of the Spa and increase d the capacity of one of the restaurants. Undoubtably, this will further strengthen the potential future profitability of the group.

The group is reliant on bank borrowings and loans from related parties. The directors are confident that they have the support of the bank and related parties for the foreseeable future.

Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover represents the invoiced amount of food and drink sold and other services provided net of value added tax. Turnover is recognised at the point at which the company has fulfilled its contractual obligations.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
2% straight line basis
Property improvements
2% straight line basis
Fixtures, fittings and equipment
5 - 33% straight line basis
Motor vehicles
25% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 19 -
1.7
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

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

1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Where a reasonable and consistent basis of allocation can be identified, assets are allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Stocks

Stocks are stated at the lower of cost and estimated net realisable value.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 20 -
1.11
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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.

The group only has financial assets (debtors, cash and bank balances) and liabilities (creditors and accruals) of a kind that qualify as basic financial instruments. They are initially recognised at transaction value and subsequently measured at their settlement value.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 21 -
1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 22 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Depreciation and residual values

The directors have reviewed the asset lives and associated residual values of all fixed asset classes and have concluded that asset lives and residual values remain appropriate.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Accomodation, leisure facilities and restaurants
19,212,450
16,991,000
2025
2024
£
£
Other revenue
Interest income
8,614
685
4
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
10,000
9,000
Audit of the financial statements of the company's subsidiaries
9,000
8,000
19,000
17,000
For other services
Audit-related assurance services
2,000
2,000
Taxation compliance services
3,000
2,250
5,000
4,250
ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 23 -
5
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
1,329,000
1,169,748
Profit on disposal of tangible fixed assets
(27,588)
(4,045)
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Senior management
11
10
-
-
Leisure centre, spa and restaurant staff
397
356
-
-
Total
408
366
0
0

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
8,370,543
7,183,604
-
0
-
0
Social security costs
693,891
468,147
-
-
Pension costs
135,690
116,054
-
0
-
0
9,200,124
7,767,805
-
0
-
0
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
8,614
503
Other interest income
-
182
Total income
8,614
685
ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 24 -
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
1,294,063
702,205
Other interest on financial liabilities
121,632
201,452
Interest on finance leases and hire purchase contracts
5,979
4,182
Total finance costs
1,421,674
907,839
9
Taxation
2025
2024
£
£
Deferred tax
Origination and reversal of timing differences
300,000
255,000

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
866,635
1,216,911
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
216,659
304,228
Tax effect of expenses that are not deductible in determining taxable profit
638
-
0
Unutilised tax losses carried forward
-
0
(52,580)
Depreciation on assets not qualifying for tax allowances
2,348
2,909
Other permanent differences
15,922
-
0
Under/(over) provided in prior years
64,433
443
Taxation charge
300,000
255,000
ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 25 -
10
Tangible fixed assets
Group
Land and buildings
Property improvements
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2024
28,654,676
676,466
13,608,925
245,764
43,185,831
Additions
2,216,319
-
0
3,899,868
357,263
6,473,450
Disposals
-
0
-
0
-
0
(173,411)
(173,411)
At 30 April 2025
30,870,995
676,466
17,508,793
429,616
49,485,870
Depreciation and impairment
At 1 May 2024
5,593,537
152,652
4,567,566
88,459
10,402,214
Depreciation charged in the year
778,580
38,000
463,000
49,420
1,329,000
Eliminated in respect of disposals
-
0
-
0
-
0
(101,499)
(101,499)
At 30 April 2025
6,372,117
190,652
5,030,566
36,380
11,629,715
Carrying amount
At 30 April 2025
24,498,878
485,814
12,478,227
393,236
37,856,155
At 30 April 2024
23,061,139
523,814
9,041,359
157,305
32,783,617
Company
Land and buildings
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2024
28,654,676
3,071,659
174,693
31,901,028
Additions
2,216,319
-
0
-
0
2,216,319
Disposals
-
0
-
0
(135,792)
(135,792)
At 30 April 2025
30,870,995
3,071,659
38,901
33,981,555
Depreciation and impairment
At 1 May 2024
5,593,537
1,568,220
70,840
7,232,597
Depreciation charged in the year
778,580
156,000
29,420
964,000
Eliminated in respect of disposals
-
0
-
0
(63,880)
(63,880)
At 30 April 2025
6,372,117
1,724,220
36,380
8,132,717
Carrying amount
At 30 April 2025
24,498,878
1,347,439
2,521
25,848,838
At 30 April 2024
23,061,139
1,503,439
103,853
24,668,431
ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
10
Tangible fixed assets
(Continued)
- 26 -

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2025
2024
2025
2024
£
£
£
£
Fixtures, fittings and equipment
123,413
123,413
-
0
-
0
11
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
12
-
0
-
0
1
1
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 May 2024 and 30 April 2025
1
Carrying amount
At 30 April 2025
1
At 30 April 2024
1
12
Subsidiaries

Details of the company's subsidiaries at 30 April 2025 are as follows:

Name of undertaking
Address
Nature of business
Class of
% Held
shares held
Direct
Indirect
Crow Wood Leisure Limited
England
Leisure,spa, hotel and restaurant operators
Ordinary
100.00
0
13
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Finished goods and goods for resale
324,166
276,768
-
0
-
0
ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 27 -
14
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
14,716
9,256
1,657
1
Amounts owed by group undertakings
-
-
2,210,509
-
Other debtors
-
0
107,602
-
0
107,602
Prepayments and accrued income
362,625
256,607
-
0
-
0
377,341
373,465
2,212,166
107,603
15
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
17
1,637,942
1,492,478
1,637,942
1,492,478
Obligations under finance leases
18
46,936
27,767
-
0
-
0
Trade creditors
938,163
2,085,517
10,920
394,722
Amounts owed to group undertakings
-
0
-
0
-
0
1,394,360
Corporation tax payable
2,462
2,462
2,462
2,462
Other taxation and social security
1,435,220
303,218
919,117
-
Other creditors
2,883,797
2,064,526
2,870,348
2,047,430
Accruals and deferred income
3,785,819
3,049,518
142,782
102,368
10,730,339
9,025,486
5,583,571
5,433,820

Finance lease obligations of £46,936 (2024: £27,767) are secured against the fixed assets to which they relate.

Within accruals and deferred income is an amount in respect of deposits received for services to be provided by the group in future periods. At the balance sheet date the amount of deposits received is £3,444,371 (2024: £2,386,424).

16
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
17
15,470,332
12,121,352
15,470,332
12,121,352
Obligations under finance leases
18
71,485
50,908
-
0
-
0
Other creditors
-
0
800,000
-
0
800,000
15,541,817
12,972,260
15,470,332
12,921,352

Finance lease obligations of £71,485 (2024: £50,908) are secured against the fixed assets to which they relate.

ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 28 -
17
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
17,096,220
13,611,365
17,096,220
13,611,365
Bank overdrafts
12,054
2,465
12,054
2,465
17,108,274
13,613,830
17,108,274
13,613,830
Payable within one year
1,637,942
1,492,478
1,637,942
1,492,478
Payable after one year
15,470,332
12,121,352
15,470,332
12,121,352

The group has bank loans provided by NatWest. The bank loans are secured by:

- Fixed and floating charge over the undertaking and all property and assets present and future of the company and subsidiary.

- Unlimited guarantee over the company and subsidiary

- Deed of assignment

- Legal charge over the freehold property

- Material contracts assignment

- Subordination deed over the company, subsidiary, a director, and two other individuals.

The bank loans are being repaid with instalments totalling £161,099/month and interest is charged at 2.05% above base.

18
Finance lease obligations
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
52,568
31,950
-
0
-
0
In two to five years
80,063
58,575
-
0
-
0
132,631
90,525
-
-
Less: future finance charges
(14,210)
(11,850)
-
0
-
0
118,421
78,675
-
0
-
0

Finance lease payments represent rentals payable by the group for certain items of fixtures and fittings. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets.

The finance leases are secured by the lessors' title to the leased assets which have a carrying value of £123,413 (2024: £123,413).

The directors consider that the carrying amount of the obligations under finance leases approximate to their fair value.

ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 29 -
19
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
4,308,000
2,586,000
Tax losses
(1,853,000)
(431,000)
2,455,000
2,155,000
Liabilities
Liabilities
2025
2024
Company
£
£
Accelerated capital allowances
2,111,000
1,563,000
Tax losses
(661,000)
(313,000)
1,450,000
1,250,000
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 May 2024
2,155,000
1,250,000
Charge to profit or loss
300,000
200,000
Liability at 30 April 2025
2,455,000
1,450,000
20
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
135,690
116,054

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

Included in the financial statements is an amount of £56,331 (2024: £45,152) owing by the company with regard to pensions. This represents amounts that have been deducted at the year end but paid to the scheme after the year end.

ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 30 -
21
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3,743,812
3,743,812
3,743,812
3,743,812
E Ordinary shares of 0.1p each
155,994
155,994
156
156
3,899,806
3,899,806
3,743,968
3,743,968
22
Financial commitments, guarantees and contingent liabilities

Guarantee

The group's bankers hold a composite guarantee securing the bank borrowings of the company and other group companies. At 30 April 202 5, the total bank borrowings of the group amounted to £17,096,220 (202 4: £13,611,365). All borrowings are held by Andrew Brown Leisure Limited.

23
Capital commitments

Amounts contracted for but not provided in the financial statements:

Group
Company
2025
2024
2025
2024
£
£
£
£
Spa extension project
-
4,000,000
-
4,000,000
24
Controlling party

The ultimate controlling party is A W Brown by virtue of his family interest.

25
Directors' transactions

During the year interest of £121,632 (2024 - £201,452) was charged to the company in respect of directors' loans. At the year end £29,704 (2024 - £3,369) of accrued interest is included within accruals and deferred income.

At the balance sheet date the amounts due to the directors and close family members was £2,870,348 (2024: £2,829,213). The £2,870,348 owed to directors and close family members is disclosed within other creditors under one year. The directors' current accounts and other loans included within other creditors above are unsecured and interest is charged at an agreed rate.

The company has taken advantage of the exemptions provided by FRS 102 in relation to paragraph 33.1A from disclosing transactions and balances with other group companies.

ANDREW BROWN LEISURE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 31 -
26
Cash generated from group operations
2025
2024
£
£
Profit for the year after tax
566,635
961,911
Adjustments for:
Taxation charged
300,000
255,000
Finance costs
1,421,674
907,839
Investment income
(8,614)
(685)
Gain on disposal of tangible fixed assets
(27,588)
(4,045)
Depreciation and impairment of tangible fixed assets
1,329,000
1,169,748
Movements in working capital:
Increase in stocks
(47,398)
(18,141)
Increase in debtors
(3,876)
(159,480)
Increase in creditors
740,220
392,802
Cash generated from operations
4,270,053
3,504,949
27
Analysis of changes in net debt - group
1 May 2024
Cash flows
30 April 2025
£
£
£
Cash at bank and in hand
63,138
17,233
80,371
Bank overdrafts
(2,465)
(9,589)
(12,054)
60,673
7,644
68,317
Borrowings excluding overdrafts
(13,611,365)
(3,484,855)
(17,096,220)
Obligations under finance leases
(78,675)
(39,746)
(118,421)
(13,629,367)
(3,516,957)
(17,146,324)
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