Registration number:
Mendip Activity Centre Ltd
for the Year Ended 31 December 2025
Mendip Activity Centre Ltd
Contents
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Mendip Activity Centre Ltd
(Registration number: 05767244)
Statement of Financial Position as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
- |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
10,101 |
10,101 |
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Profit and loss account |
520,213 |
653,450 |
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Shareholders' funds |
530,314 |
663,551 |
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.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Mendip Activity Centre Ltd
(Registration number: 05767244)
Statement of Financial Position as at 31 December 2025 (continued)
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Mendip Activity Centre Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
Principal activity
The principal activity of the company is the running of an outdoor sports and leisure centre.
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis.
Mendip Activity Centre Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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2 |
Accounting policies (continued) |
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
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.
Mendip Activity Centre Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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2 |
Accounting policies (continued) |
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 taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Land and buildings |
Not depreciated |
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Leasehold improvements |
10 years straight line |
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Plant and machinery |
25% reducing balance |
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Vehicles |
25% reducing balance |
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Office equipment |
3 years straight line |
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Other property, plant and equipment |
3 years straight line |
Impairment
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.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Mendip Activity Centre Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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2 |
Accounting policies (continued) |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
10 years straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Mendip Activity Centre Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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2 |
Accounting policies (continued) |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Provisions
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.
Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Mendip Activity Centre Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Mendip Activity Centre Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 January 2025 |
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At 31 December 2025 |
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Amortisation |
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At 1 January 2025 |
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Amortisation charge |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
- |
- |
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At 31 December 2024 |
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Mendip Activity Centre Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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Tangible assets |
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Long leasehold land and buildings |
Other property, plant and equipment |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2025 |
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Additions |
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Disposals |
- |
- |
( |
- |
- |
( |
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At 31 December 2025 |
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Depreciation |
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At 1 January 2025 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
( |
- |
- |
( |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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At 31 December 2024 |
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Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of freehold land and buildings and £426,620 (2024 - £423,181) in respect of long leasehold land and buildings.
Mendip Activity Centre Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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Investments |
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2025 |
2024 |
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Investments in associates |
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Associates |
£ |
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Cost |
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At 1 January 2025 |
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Additions |
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At 31 December 2025 |
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Provision |
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Carrying amount |
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At 31 December 2025 |
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At 31 December 2024 |
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Other debtors |
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Prepayments |
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Mendip Activity Centre Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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2025 |
2024 |
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Due after more than five years |
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After more than five years by instalments |
- |
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£0.00 |
£0.00 |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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10,000 |
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10,000 |
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1 |
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1 |
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100 |
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100 |
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Mendip Activity Centre Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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Reserves |
Profit and loss account:
This reserve records retained earnings and accumulated losses.
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Hire purchase contracts |
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Current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Hire purchase contracts |
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Included in the loans and borrowings are the following amounts due after more than five years:
Bank loans and overdrafts after five years
Due in respect of the COVID Bounce Back Loan: £Nil, prior year: £3,081.
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Related party transactions |
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Transactions with directors |
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2025 |
At 1 January 2025 |
Advances to director |
Repayments by director |
At 31 December 2025 |
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Directors loan |
( |
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( |
( |
Mendip Activity Centre Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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12 |
Related party transactions (continued) |
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2024 |
At 1 January 2024 |
Advances to director |
Repayments by director |
At 31 December 2024 |
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Directors loan |
( |
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( |
( |
Summary of transactions with entities with joint control or significant interest
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A company with common directors:
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