Sheffield Sports Stadium Limited Company accounts

COMPANY REGISTRATION NUMBER: 00707406

Sheffield Sports Stadium Limited

Financial Statements

30 September 2025

Sheffield Sports Stadium Limited

Financial Statements

Year ended 30 September 2025

Contents	Pages

Officers and professional advisers	1

Strategic report	2

Directors' report	3 to 4

Directors' responsibilities statement	5

Independent auditor's report to the members	6 to 9

Income statement	10

Statement of comprehensive income	11

Statement of financial position	12

Statement of changes in equity	13

Statement of cash flows	14

Notes to the financial statements	15 to 22

Sheffield Sports Stadium Limited

Officers and Professional Advisers

The board of directors	Mr D Allen
	Mr M Allen
	Mr P Coy

Company secretary	Mrs S Battersby

Registered office	15 Livesey Street
	Sheffield
	South Yorkshire
	S6 2BL

Auditor	Allen, West and Foster Limited
	Chartered Accountants & Statutory Auditor
	Omega Court
	364-366 Cemetery Road
	Sheffield
	S11 8FT

Bankers	Lloyds TSB
	1 High Street
	Sheffield
	South Yorkshire
	S1 2GA

Sheffield Sports Stadium Limited

Strategic Report

Year ended 30 September 2025

The directors present their strategic report for the company for the year ended 30 September 2025.

Turnover for the year increased by 5.3% and due to continued targeted expense management, there was an increase in gross profit of 28.8%. These developments have also impacted the overall position for the year with a further reduction in losses. The Directors continue to strive to develop income streams and control costs. Staff numbers reduced slightly in the year contributing to controlled payroll costs, despite significant increases in Employer's National Insurance contributions and National Minimum Wage. Payroll costs overall, increased by 3.8% to £3,106,604 (2024 - £2,991,153). The results for 2025 against the previous year are:

	2025	2024
	£	£
Turnover	7,594,837	7,209,954
Gross profit	1,420,043	1,102,190
Operating loss	211,301	476,851
Administrative costs	2,015,002	1,901,847
Loss before tax	208,230	473,362

At the end of the financial year, the company had net assets of approximately £827,000 and the ratio of current assets/current liabilities for 2025 was 0.15 (2024 - 0.12).

The company is subject to the normal risks of running commercial businesses. The company as an operator in the leisure industry, is subject to various risks, which include:- * Breach of regulatory rules regarding licences. * Failure to adhere to gambling regulations and/or internal controls. * The effect of additional gambling legislation and increased competition from other gambling and leisure operators. The directors of the company seek to minimise the foregoing risks, where possible, by a system of internal controls and monitoring.

The directors are committed to providing a high quality venue for the benefit of members and visitors, and are continuously improving and refurbishing the site to improve the facilities.

This report was approved by the board of directors on 23 June 2026 and signed on behalf of the board by:

Mrs S Battersby

Company Secretary

Registered office:

15 Livesey Street

Sheffield

South Yorkshire

S6 2BL

Sheffield Sports Stadium Limited

Directors' Report

Year ended 30 September 2025

The directors present their report and the financial statements of the company for the year ended 30 September 2025 .

Principal activities

The principal activity of the company during the year was the operation of a banqueting and conferencing facility, a greyhound and speedway track.

Directors

The directors who served the company during the year were as follows:

Mr D Allen
Mr M Allen
Mr P Coy

Dividends

No interim dividend was paid during the year (2024 - £Nil). The directors have not recommended any further dividend.

Future developments

The directors are confident of the future of the company, despite the current state of the UK economy putting pressure on business results. The directors continue to explore new revenue streams through more varied use of the stadium facilities as well as exploring options to make use of surrounding land to generate income.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 23 June 2026 and signed on behalf of the board by:

Mrs S Battersby

Company Secretary

Registered office:

15 Livesey Street

Sheffield

South Yorkshire

S6 2BL

Sheffield Sports Stadium Limited

Directors' Responsibilities Statement

Year ended 30 September 2025

The directors are responsible for preparing the strategic report, directors' 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 company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Sheffield Sports Stadium Limited

Independent Auditor's Report to the Members of Sheffield Sports Stadium Limited

Year ended 30 September 2025

Opinion

We have audited the financial statements of Sheffield Sports Stadium Limited (the 'company') for the year ended 30 September 2025 which comprise the income statement, statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 company's affairs as at 30 September 2025 and of its loss for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 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 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. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 the audit:

- the information given in the strategic report and the directors' report 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.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. 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, or returns adequate for our audit have not been received from branches not visited by us; or - the 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' responsibilities statement, 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 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 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Identifying and assessing potential risks related to irregularities In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: Audit risks identified - the nature of the industry and sector, control environment and business performance; - results of our enquiries of management, about their own identification and assessment of the risks of irregularities; - any matters we identified having made enquiries about the documentation of their policies and procedures relating to: - identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; - detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; - the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; - the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to income recognition, banking procedures and segregation of duties. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK Corporate Governance Code and local tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. 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 is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. Audit response to risks identified As a result of performing the above, we identified income recognition and the recording and accuracy of related party transactions as key audit matters related to the potential risk of fraud. In order to mitigate the risk identified, enquiries were made of key management personnel as to the processes surrounding the recording of transactions and all bank transactions within the company and the related group companies were reviewed in detail. Income was considered for completeness in line with our understanding of the company operations and expectations based thereon. These processes provided reassurance in the systems, controls and the resulting figures included in these financial statements. In addressing the risk of fraud through management override of controls, our procedures included reviewing and testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. Due to the review of transactions and journals included in the accounting records throughout the financial year it was clear that there had been no management override of controls and that each transaction had been correctly and properly recorded as appropriate. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 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.

Stephen Allen ACA FCCA

(Senior Statutory Auditor)

For and on behalf of

Allen, West and Foster Limited

Chartered Accountants & Statutory Auditor

Omega Court

364-366 Cemetery Road

Sheffield

S11 8FT

23 June 2026

Sheffield Sports Stadium Limited

Income Statement

Year ended 30 September 2025

		2025	2024
Note		£	£
Turnover	4	7,594,837	7,209,954

Cost of sales	6,174,794	6,107,764
	-----------	-----------
Gross profit	1,420,043	1,102,190

Administrative expenses		2,015,002	1,901,847
Other operating income	5	383,658	322,806
		-----------	-----------
Operating loss	6	( 211,301)	( 476,851)

Other interest receivable and similar income	9	3,071	3,489
		-----------	-----------
Loss before taxation		( 208,230)	( 473,362)

Tax on loss	10	18,000	76,000
		---------	---------
Loss for the financial year		( 226,230)	( 549,362)
		---------	---------

All the activities of the company are from continuing operations.

Sheffield Sports Stadium Limited

Statement of Comprehensive Income

Year ended 30 September 2025

	2025	2024
	£	£
Loss for the financial year	( 226,230)	( 549,362)

	---------	---------
Other comprehensive income for the year	–	–
	---------	---------
Total comprehensive income for the year	( 226,230)	( 549,362)
	---------	---------

Sheffield Sports Stadium Limited

Statement of Financial Position

30 September 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	11	10,015,176	10,278,891

Current assets

Stocks	12	113,446	105,971
Debtors	13	416,410	501,315
Cash at bank and in hand		924,330	519,626
		-----------	-----------
		1,454,186	1,126,912

Creditors: amounts falling due within one year	14	9,555,529	9,280,498
		-----------	-----------
Net current liabilities		8,101,343	8,153,586
		------------	------------
Total assets less current liabilities		1,913,833	2,125,305

Creditors: amounts falling due after more than one year	15	15,378	18,620

Provisions	16	1,071,000	1,053,000
		-----------	-----------
Net assets		827,455	1,053,685
		-----------	-----------

Capital and reserves

Called up share capital	19	9,006	9,006
Revaluation reserve	20	1,024,616	1,087,791
Profit and loss account	20	( 206,167)	( 43,112)
		-----------	-----------
Shareholders funds		827,455	1,053,685
		-----------	-----------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 23 June 2026 , and are signed on behalf of the board by:

Mr D Allen
Chairman

Company registration number: 00707406

Sheffield Sports Stadium Limited

Statement of Changes in Equity

Year ended 30 September 2025

		Called up share capital	Revaluation reserve	Profit and loss account	Total
		£	£	£	£
At 1 October 2023		9,006	1,150,966	443,075	1,603,047

Loss for the year				( 549,362)	( 549,362)
Other comprehensive income for the year:
	Reclassification from revaluation reserve to profit and loss account	–	( 63,175)	63,175	–
		------	-----------	---------	-----------
Total comprehensive income for the year		–	( 63,175)	( 486,187)	( 549,362)

At 30 September 2024		9,006	1,087,791	( 43,112)	1,053,685

Loss for the year				( 226,230)	( 226,230)
Other comprehensive income for the year:
	Reclassification from revaluation reserve to profit and loss account	–	( 63,175)	63,175	–
		------	-----------	---------	-----------
Total comprehensive income for the year		–	( 63,175)	( 163,055)	( 226,230)

		------	-----------	---------	-----------
At 30 September 2025		9,006	1,024,616	( 206,167)	827,455
		------	-----------	---------	-----------

Sheffield Sports Stadium Limited

Statement of Cash Flows

Year ended 30 September 2025

	2025	2024
	£	£

Cash flows from operating activities

Loss for the financial year	( 226,230)	( 549,362)

Adjustments for:
Depreciation of tangible assets	425,661	442,795
Other interest receivable and similar income	( 3,071)	( 3,489)
Tax on loss	18,000	76,000
Accrued expenses	42,676	12,042

Changes in:
Stocks	( 7,475)	6,583
Trade and other debtors	84,905	( 95,441)
Trade and other creditors	2,747	( 10,176)
	---------	---------
Cash generated from operations	337,213	( 121,048)

Interest received	3,071	3,489
	---------	---------
Net cash from/(used in) operating activities	340,284	( 117,559)
	---------	---------

Cash flows from investing activities

Purchase of tangible assets	( 161,946)	( 230,086)
	---------	---------
Net cash used in investing activities	( 161,946)	( 230,086)
	---------	---------

Cash flows from financing activities

Proceeds from loans from group undertakings	226,366	345,124
	---------	---------
Net cash from financing activities	226,366	345,124
	---------	---------

Net increase/(decrease) in cash and cash equivalents	404,704	( 2,521)
Cash and cash equivalents at beginning of year	519,626	522,147
	---------	---------
Cash and cash equivalents at end of year	924,330	519,626
	---------	---------

Sheffield Sports Stadium Limited

Notes to the Financial Statements

Year ended 30 September 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Livesey Street, Sheffield, South Yorkshire, S6 2BL.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements are prepared to a date which corresponds to the end of the last trading week in an accounting period. In relation to the current accounting period this date was 28 September 2025 (2024 - 29 September 2024).

Government grants

Grants received relating to tangible fixed assets are credited to a deferred income account, and released to the statement of income and retained earnings over the expected useful lives of the underlying assets concerned.

Going concern

The accounts have been prepared on the going concern basis on the understanding that it will continue to receive the support of the directors and the remaining solvent group companies for a period exceeding 12 months post the date of the balance sheet.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of A & S Leisure Group Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of financial instruments have not been presented. (b) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

The turnover shown in the statement of income and retained earnings represents amounts receivable by the company in the ordinary course of business, from outside customers for goods supplied and services provided during the year, exclusive of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

All fixed assets are initially recorded at cost. Property (including licences) The leasehold property from which the company conducts its operations has previously been carried at open market value on an existing use and fully operational basis, including the benefit of licences. Under the transitional provisions of FRS 15 "Tangible Fixed Assets" the company elected not to adopt a policy of revaluation of tangible fixed assets in the future. FRS 15 has now been replaced by FRS 102, and the company will retain the carrying value of properties (including licences), previously re-valued, and will not update that valuation. The directors review fixed assets including properties (including licences) each year and if in their opinion, there is any permanent diminution in value, it is charged to the revaluation reserve or the profit and loss account as appropriate.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	2% straight line
Fixtures, fittings and equipment	-	6.67% to 25.00% straight line
Motor vehicles	-	25% straight line

Depreciation has been provided on property (including licences), such that the depreciable element will be written off over its estimated remaining useful life or the lease term, whichever is the shorter. The remaining useful life being estimated at 50 years from 30 September 1998 or date of first use, if later. A full year's depreciation is charged in the year of purchase but no depreciation is charged in the year of sale.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Provision of bar and restaurant services	3,957,492	3,792,932
Racing income and associated revenues	3,637,345	3,417,022
	-----------	-----------
	7,594,837	7,209,954
	-----------	-----------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2025	2024
	£	£
Rental income	380,416	318,238
Grant amortisation	3,242	4,568
	---------	---------
	383,658	322,806
	---------	---------

6. Operating loss

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	425,661	442,795
Operating lease rentals	159,813	141,594
	---------	---------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	12,000	11,550
	-------	-------

Fees payable to the company's auditor and its associates for other services:

Other non-audit services	–	13,300
	-------	-------

8. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Operating staff	203	209
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	2,833,679	2,767,074
Social security costs	229,206	181,156
Other pension costs	43,719	42,923
	-----------	-----------
	3,106,604	2,991,153
	-----------	-----------

9. Other interest receivable and similar income

	2025	2024
	£	£
Corporation tax interest receivable	3,071	3,489
	------	------

10. Tax on loss

Major components of tax expense

	2025	2024
	£	£

Deferred tax:

Origination and reversal of timing differences	18,000	76,000
	-------	-------
Tax on loss	18,000	76,000
	-------	-------

Reconciliation of tax expense

The tax assessed on the loss on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Loss on ordinary activities before taxation	( 208,230)	( 473,362)
	---------	---------
Loss on ordinary activities by rate of tax	( 52,057)	( 118,341)
Adjustment to tax charge in respect of prior periods	( 7,224)	17,441
Effect of expenses not deductible for tax purposes	1,330	893
Effect of depreciation on ineligible assets	43,250	43,250
Group relief	32,701	132,757
	---------	---------
Tax on loss	18,000	76,000
	---------	---------

11. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 October 2024	12,535,282	4,251,814	111,854	16,898,950
Additions	–	160,032	1,914	161,946
	------------	-----------	---------	------------
At 30 September 2025	12,535,282	4,411,846	113,768	17,060,896
	------------	-----------	---------	------------
Depreciation
At 1 October 2024	3,202,861	3,316,660	100,538	6,620,059
Charge for the year	250,706	168,819	6,136	425,661
	------------	-----------	---------	------------
At 30 September 2025	3,453,567	3,485,479	106,674	7,045,720
	------------	-----------	---------	------------
Carrying amount
At 30 September 2025	9,081,715	926,367	7,094	10,015,176
	------------	-----------	---------	------------
At 30 September 2024	9,332,421	935,154	11,316	10,278,891
	------------	-----------	---------	------------

The long leasehold property relates to a lease with an un-expired term of more than 50 years. The freehold is owned by The A & S Leisure Group Limited, the company's ultimate parent company. Total cost or valuation at 30 September 2025 amounting to £12,535,282 includes £3,521,115 at 1997 valuation and original cost and £9,014,167 of subsequent cost. Property (including licences), and fixtures were valued by the directors on 28 September 1997, on the basis of existing use value, having regard to the company's trading potential. These assets were valued as a single entity on a going concern basis and for this reason it was considered appropriate to combine the property and licence elements of the valuation. The value attributed to the fixtures equalled their net book value at the date of valuation. Following a review of the valuation, the amount at at which these assets are stated does not, in the opinion of the directors, exceed their market value at 30 September 2025.

12. Stocks

	2025	2024
	£	£
Raw materials and consumables	113,446	105,971
	---------	---------

13. Debtors

	2025	2024
	£	£
Trade debtors	301,373	335,483
Prepayments and accrued income	75,772	64,720
Corporation tax repayable	–	93,489
Other debtors	39,265	7,623
	---------	---------
	416,410	501,315
	---------	---------

14. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	560,196	564,900
Amounts owed to group undertakings	8,540,220	8,313,854
Accruals and deferred income	164,003	118,085
Social security and other taxes	291,110	283,659
	-----------	-----------
	9,555,529	9,280,498
	-----------	-----------

Accruals and deferred income includes deferred income of £3,242 (2024 - £4,568) which relates to grant income received. The bank overdraft is secured by an unlimited debenture over the company's assets.

15. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Accruals and deferred income	15,378	18,620
	-------	-------

The entirety of this figure relates to deferred income in respect of grants received. Deferred grant income is credited to the statement of income and retained earnings over the estimated useful lives of the assets to which the grants relate.

16. Provisions

	Deferred tax (note 17)
	£
At 1 October 2024	1,053,000
Additions	18,000
	-----------
At 30 September 2025	1,071,000
	-----------

17. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 16)	1,071,000	1,053,000
	-----------	-----------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	682,000	664,000
Revaluation of tangible assets	389,000	389,000
	-----------	-----------
	1,071,000	1,053,000
	-----------	-----------

Full provision has been made for potential liabilities in respect of the gains on property even though there is no intention to dispose of the property, as required by the new Financial Reporting Standard.

18. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 43,719 (2024: £ 42,923 ).

19. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	9,006	9,006	9,006	9,006
	------	------	------	------

20. Reserves

Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Profit and loss account - This reserve records retained earnings less accumulated losses.

21. Analysis of changes in net debt

	At 1 Oct 2024	Cash flows	At 30 Sep 2025
	£	£	£
Cash at bank and in hand	519,626	404,704	924,330
Debt due within one year	(8,313,854)	(226,366)	(8,540,220)
	-----------	---------	-----------
	( 7,794,228)	178,338	( 7,615,890)
	-----------	---------	-----------

22. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	–	28,823
Later than 5 years	74,000	74,000
	-------	---------
	74,000	102,823
	-------	---------

23. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard.

24. Controlling party

The ultimate parent company is The A & S Leisure Group Limited, a company incorporated in the United Kingdom whose registered office is situated at 15 Livesey Street, Sheffield, South Yorkshire, S6 2BL.