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Registered number: 12712884 VENTURE LODGES LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 JUNE 2025
VENTURE LODGES LIMITED CONTENTS
| Page
Statement of financial position | 1 - 2
Notes to the financial statements | 3 - 8
VENTURE LODGES LIMITED REGISTERED NUMBER: 12712884 STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 73,908 |  | 98,545
|  |  | 73,908 |  | 98,545
Current assets |  |  |  |  |
Stocks |  | 516,862 |  | 1,324,873 |
Debtors: amounts falling due within one year | 5 | 8,739,203 |  | 6,163,580 |
Cash at bank and in hand | 6 | 179,492 |  | 1,273,479 |
|  | 9,435,557 |  | 8,761,932 |
Creditors: amounts falling due within one year | 7 | (7,490,334) |  | (6,711,380) |
Net current assets |  |  | 1,945,223 |  | 2,050,552
Creditors: amounts falling due after more than one year | 8 |  | (250,000) |  | (250,000)
Provisions for liabilities |  |  |  |  |
Other provisions | 10 | (350,000) |  | - |
|  |  | (350,000) |  | -
Net assets |  |  | 1,419,131 |  | 1,899,097
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2 |  | 2
Profit and loss account |  |  | 1,419,129 |  | 1,899,095
|  |  | 1,419,131 |  | 1,899,097
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to Page 1
VENTURE LODGES LIMITED REGISTERED NUMBER: 12712884 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 JUNE 2025 companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 July 2026.
N Morgan
Director
The notes on pages 3 to 8 form part of these financial statements. Page 2
VENTURE LODGES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | General information
Tallington Lakes Activities Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The address of the registered office is Tallington Lakes, Barholm Rd, Tallington, Stamford PE9 4RJ. The nature of the Company's operations and principal activities continued to be that of the provision of sports activity services. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
|  | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.3 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
| 2.4 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence. Page 3
VENTURE LODGES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% | Reducing balance
|  |  |  | Motor vehicles | - | 25% | Reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.6 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.8 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 4
VENTURE LODGES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.10 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.11 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 July 2024 | 39,200 | 86,250 | 125,450
| At 30 June 2025 | 39,200 | 86,250 | 125,450
| Depreciation |  |  |
| At 1 July 2024 | 1,665 | 25,240 | 26,905
| Charge for the year on owned assets | 9,384 | 15,253 | 24,637
| At 30 June 2025 | 11,049 | 40,493 | 51,542
| Net book value |  |  |
| At 30 June 2025 | 28,151 | 45,757 | 73,908
| At 30 June 2024 | 37,535 | 61,010 | 98,545
Page 5
VENTURE LODGES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 120,825 | 187,700
| Amounts owed by group undertakings | 8,476,578 | 5,945,493
| Other debtors | 141,800 | 30,387
|  | 8,739,203 | 6,163,580
6. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 179,492 | 1,273,479
|  | 179,492 | 1,273,479
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 1,027,462 | 997,829
| Amounts owed to group undertakings | 3,356,376 | 4,476,368
| Other creditors | 2,967,469 | 1,098,156
| Accruals and deferred income | 139,027 | 139,027
|  | 7,490,334 | 6,711,380
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | 250,000 | 250,000
|  | 250,000 | 250,000
Page 6
VENTURE LODGES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due 1-2 years |  |
| Other loans | 250,000 | 250,000
|  | 250,000 | 250,000
|  | 250,000 | 250,000
10. | Provisions
|  | Provisions
|  | £
| Charged to profit or loss | 350,000
| At 30 June 2025 | 350,000
Page 7
VENTURE LODGES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
11. | Related party transactions
| The Company has taken advantage of the exemption available under FRS 102 section 33.1A where disclosures of transactions between group members are not required, provided that the subsidiary is wholly owned. As at the year end, the Company was owed £1,736,588 (2024: £1,383,588) by Leisure Venture Land Limited, a fellow subsidiary company. As at the year end, the Company was owed £17,457 (2024: £13,210) by Tallington Lakes Land Limited, a fellow subsidiary company. As at the year end, the Company was owed £4,598,724 (2024: £2,388,978) by Leisure Site Limited, a fellow subsidiary company. As at the year end, the Company was owed £73,743 (2024: £23,743) by Abacus (Kent) Operations Limited, a company under common control. As at the year end, the Company was owed £54,976 (2024: £54,976) by Indigo Estates LLP, a company iunder common control. As at the year end, the Company was owed £786,730 (2024: £703,930) by Activities Venture Limited, a fellow subsidiary company. As at the year end, the Company was owed £42,606 (2024: £42,599) by Lakeside Clubhouse Limited, a fellow subsidiary company. As at the year end, the Company was owed £1,294,473 (2024: £1,294,474) by Tallington Lakes Sales Limited, a fellow subsidiary company. As at the year end, the Company owed £1,623,651 (2024: £1,473,651) to Ping (Herts) Operations Limited, a company under common control As at the year end, the Company owed £119,460 (2024: £ 40,000 was owed) to Tallington Lakes Site Limited, a fellow subsidiary company. As at the year end, the Company owed £13,867 (2024: £Nil) to Tallington Lakes Activities Limited, a fellow subsidiary company. As at the year end, the Company owed £1,137,520 (2024: £Nil) to Tallington Lakes Leisure Park Limited, a fellow subsidiary company. As at the year end, the Company owed £3,109,297 (2024: £2,540,538) to Tallington Holdings Limited, the parent company. As at the year end, the Company owed £462,179 (2024: £462,179) to Cobra (Cambs) Operations Limited, a company under common control. As at the year end, the Company owed £5,653 (2024: £4,156) to a company director.
12. | Controlling party
The company is controlled by Tallington Holdings Limited.
Page 8