Company No: 03603607 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	1,108,936		1,101,202
		1,108,936		1,101,202
Current assets
Stocks		2,301,866		2,138,513
Debtors	5	306,760		251,568
Cash at bank and in hand		1,363,600		3,395,314
		3,972,226		5,785,395
Creditors: amounts falling due within one year	6	( 2,326,155)		( 2,149,424)
Net current assets		1,646,071		3,635,971
Total assets less current liabilities		2,755,007		4,737,173
Provision for liabilities	7	( 40,985)		( 38,989)
Net assets		2,714,022		4,698,184
Capital and reserves
Called-up share capital		808,786		808,786
Revaluation reserve		393,215		402,282
Capital redemption reserve		808,784		808,784
Profit and loss account		703,237		2,678,332
Total shareholder's funds		2,714,022		4,698,184

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

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Taunton Leisure Limited (registered number: 03603607) were approved and authorised for issue by the Director on 11 June 2026. They were signed on its behalf by:

S J Clark Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Taunton Leisure Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Victoria House, Victoria Street, Taunton, TA1 3FA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Judgements

At each year end the company recognises deferred income in respect of gift vouchers. The gift vouchers expire after 12 months and therefore the deferred income recognised is for gift vouchers sold prior to the year end which have yet to be redeemed within 12 months against a sale of goods.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	0 - 50 years straight line
Leasehold improvements	5 - 20 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	15 % reducing balance
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

In 2016 under previous UK GAAP, the transitional rules of FRS15 were applied and freehold property was revalued to its market value at that date. Under FRS102, in accordance with these transitional rules, freehold property is deemed to be held at cost.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis.

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

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

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

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Loyalty points

The company operates a loyalty point scheme whereby for every £100 spent, 1 loyalty point is earned. A provision is made at the end of each accounting period for the amount of points that the company expect to be redeemed before their expiry date. The loyalty points expire after 12 months.

Capital redemption reserve

The capital redemption reserve has arisen through company purchase of own shares.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	48		48

3. Dividends on equity shares

	2025		2024
	£		£
Amounts recognised as distributions to equity holders in the financial year:
Interim dividends paid to parent company	2,530,000		0

4. Tangible assets

	Land and buildings		Leasehold improve- ments		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2025	1,172,402		49,797		100,633		90,519		80,042		1,493,393
Additions	0		6,173		32,961		3,022		17,830		59,986
Disposals	0		0		( 15,495)		( 2,758)		( 1,774)		( 20,027)
At 31 December 2025	1,172,402		55,970		118,099		90,783		96,098		1,533,352
Accumulated depreciation
At 01 January 2025	192,168		24,964		53,044		62,129		59,886		392,191
Charge for the financial year	19,392		4,508		12,584		4,487		10,420		51,391
Disposals	0		0		( 15,086)		( 2,481)		( 1,599)		( 19,166)
At 31 December 2025	211,560		29,472		50,542		64,135		68,707		424,416
Net book value
At 31 December 2025	960,842		26,498		67,557		26,648		27,391		1,108,936
At 31 December 2024	980,234		24,833		47,589		28,390		20,156		1,101,202

Included within the net book value of land and buildings above is £758,058 (2024 - £756,140) in respect of freehold land and buildings and £202,783 (2024 - £224,094) in respect of long leasehold land and buildings.

Revaluation of tangible assets

The fair value of the company's Land and Buildings was revalued on 22 March 2016 by an independent valuer.
The properties were revalued at a market value of £1,137,500 using market based evidence for company accounts purposes. The name and qualification of the independent valuer are David White BSc FRICS, registered valuer, of Hatfield White.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £547,599 (2024 - £556,666).

	2025		2024
	£		£
Historical cost	885,594		885,594
Accumulated depreciation	(337,995)		(328,928)
Carrying value	547,599		556,666

5. Debtors

	2025		2024
	£		£
Trade debtors	1,815		3,041
Amounts owed by Parent undertakings	267,158		224,991
Other debtors	37,787		23,536
	306,760		251,568

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	1,323,559		1,237,408
Accruals and deferred income	553,476		488,121
Taxation and social security	443,047		417,270
Other creditors	6,073		6,625
	2,326,155		2,149,424

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	40,985		38,989

8. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	41,600		104,000