ACCOUNTS - Final Accounts preparation

Registered number: 09491041

FUTURES LEISURE LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

FUTURES LEISURE LIMITED

REGISTERED NUMBER:09491041

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024 (restated)
Note		£		£

Fixed assets
Tangible assets	6		1,522,080		2,817,499
Investments	7		74,562		74,562
			1,596,642		2,892,061
Current assets
Stocks	8	88,411		172,795
Debtors: amounts falling due within one year	9	869,970		1,403,382
Cash at bank and in hand	10	210,711		234,509
		1,169,092		1,810,686
Creditors: amounts falling due within one year	11	(2,782,779)		(2,755,536)
Net current liabilities			(1,613,687)		(944,850)
Total assets less current liabilities			(17,045)		1,947,211
Provisions for liabilities
Deferred tax	12	(12,207)		(276,630)
			(12,207)		(276,630)
Net (liabilities)/assets			(29,252)		1,670,581

Capital and reserves
Called up share capital	3	3
Share premium account	291,181	291,181
Profit and loss account	(320,436)	1,379,397
	(29,252)	1,670,581

FUTURES LEISURE LIMITED

REGISTERED NUMBER:09491041

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2025

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 statement of comprehensive income in accordance with provisions applicable to 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 by:

Mr P B James

Director

Date: 1 October 2026

The notes on form part of these financial statements.

FUTURES LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	GENERAL INFORMATION

Futures Leisure Limited is a private company, limited by shares, incorporated in England and Wales. The address of its registered office is: 5 Patchway, Britannia Road, Patchway, Bristol, BS34 5TA.

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 Companies Act 2006. 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 Company's previous financial statements covered the 9 month period ended 31 December 2024. Therefore the comparative results presented in these financial statements for the prior period are not entirely comparable.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The directors have considered the financial position of the Company and the wider group, together with the group’s forecasts, and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.

2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

FUTURES LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.4

REVENUE

Revenue represents amounts receivable from admission tickets, and the sale of merchandise, food and drink, and gift cards. Turnover is stated net of discounts, rebates, value added tax and other sales taxes.

Services (admission revenue)

Revenue from admission tickets is recognised as the service is provided on the day of admission to the venue. Amounts received for future bookings are deferred initially and subsequently recognised in turnover on the date of the booked visit. Non-refundable amounts relating to cancelled bookings are recognised when the Company becomes entitled to retain them.

Goods (merchandise, food and drink)

Revenue from the sale of merchandise, food and drink is recognised at the point of sale.

Gift Cards

Revenue from the sale of gift cards is recognised at the earlier of the date of redemption and the date of expiry.

2.5

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term.

2.6

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

2.7

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

FUTURES LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.9

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.10

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.11

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.

FUTURES LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.11

TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property	-		Straight line over the life of the lease
Plant and machinery	-	20%	Straight Line
Motor vehicles	-	33%	Straight Line
Fixtures and fittings	-	20%	Straight Line
Computer equipment	-	20%	Straight Line

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.

2.12

IMPAIRMENT OF FIXED ASSETS AND GOODWILL

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit (CGU) to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

2.13

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

2.14

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 first in, first out basis.

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.

2.15

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.

FUTURES LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.16

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.

2.17

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.

2.18

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.

Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.

Increases in provisions are generally charged as an expense to profit or loss.

3.	JUDGEMENTS IN APPLYING ACCOUNTING POLICIES 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 for assets and liabilities within the statement of financial position and the amounts reported for turnover and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements.

Depreciation and impairment of tangible fixed assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. As described in note 2, management also reviews fixed assets annually for indicators of impairment. Where an impairment review is required - for example, when the decision is made to close a site - then that review may result in a material impairment expense.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 300 (2024: 218).

FUTURES LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

5.	INTANGIBLE ASSETS

		Trademarks
		£
	COST
	At 1 January 2025	60,617
	At 31 December 2025	60,617
	AMORTISATION
	At 1 January 2025	60,617
	At 31 December 2025	60,617
	NET BOOK VALUE
	At 31 December 2025	-
	At 31 December 2024	-

FUTURES LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

6.	TANGIBLE FIXED ASSETS

	Long-term leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£	£
COST
At 1 January 2025 (as restated)	1,122,502	3,228,312	38,100	900,648	319,440	5,609,002
Additions	123,336	428,358	-	183,167	25,809	760,670
Disposals	-	-	(30,901)	(46,977)	-	(77,878)
Transfers	(139,379)	161,972	-	(183,291)	(41,282)	(201,980)
At 31 December 2025	1,106,459	3,818,642	7,199	853,547	303,967	6,089,814
DEPRECIATION AND IMPAIRMENT
At 1 January 2025	209,679	1,704,463	28,232	574,812	274,317	2,791,503
Charge for the year on owned assets	41,849	543,923	2,939	143,057	20,963	752,731
Disposals	-	-	(23,889)	(7,353)	-	(31,242)
Transfers	4,116	89,727	(83)	(236,771)	(58,969)	(201,980)
Impairment charge	379,194	657,127	-	192,013	28,388	1,256,722
At 31 December 2025	634,838	2,995,240	7,199	665,758	264,699	4,567,734
NET BOOK VALUE
At 31 December 2025	471,621	823,402	-	187,789	39,268	1,522,080
At 31 December 2024	912,823	1,523,849	9,868	325,836	45,123	2,817,499

As shown above, certain assets were reclassified in the year to bring the above analysis into line with the underlying records and the nature of the assets

Following a review of the performance of the group’s sites in the UK, management intend to close two sites within this Company post year-end. The impairment charge above reflects the write down of the related assets at those sites.

In addition, and following the same review, an impairment expense of £653,697 was recognised in respect of an irrecoverable balance due from a fellow group undertakings.

FUTURES LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

7.	FIXED ASSET INVESTMENTS

		Investments in subsidiary companies
		£
	COST OR VALUATION
	At 1 January 2025	74,562
	At 31 December 2025	74,562

8.	STOCKS
		2025	2024
		£	£

Goods for sale	88,411	172,795
	88,411	172,795

DEBTORS

					2025	2024 (restated)
					£	£


Trade debtors	7,571	6,181
Amounts owed by group undertakings	327,929	819,535
Other debtors	-	155,470
Prepayments and accrued income	534,470	422,196
	869,970	1,403,382

Amounts owed by group undertakings are repayable on demand and interest free. No security has been
provided in respect of these amounts.

The 2024 balances above have been restated from the balances reported last year, without any effect on profits, to reflect more accurately the nature of the counter parties.

10.	CASH AND CASH EQUIVALENTS
		2025	2024
		£	£

Cash at bank and in hand	210,711	234,509
	210,711	234,509

FUTURES LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024 (restated)
		£	£

Trade creditors	232,693	848,695
Amounts owed to group undertakings	1,821,028	958,728
Corporation tax	258,804	19,218
Other taxation and social security	243,881	563,244
Other creditors	27,179	11,591
Accruals and deferred income	199,194	354,060
	2,782,779	2,755,536

Amounts owed to group undertakings are repayable on demand and interest free. No security has been
provided in respect of these amounts.

The 2024 balances above have been restated from the balances reported last year, without any effect on profits, to reflect more accurately the nature of the counter parties.

12.	DEFERRED TAXATION

		2025
		£

	At beginning of year	(276,630)
	Charged to profit or loss	264,423
	AT END OF YEAR	(12,207)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Fixed asset timing differences	(12,880)	(276,630)
Short term timing differences	673	-
	(12,207)	(276,630)

13.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

261 (2024: 261) Ordinary shares of £0.01 each	2.61	2.61

FUTURES LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

14.

RESERVES

Share premium account

This account records the amount above the nominal value receive for shares sold, less transaction costs.

Profit and loss account

This reserve records retained earnings and accumulated losses less amounts distributed to shareholders.

15.	PENSION COMMITMENTS

During the year, the Company operated a defined contribution pension scheme through an external provider. Employer contributions to the scheme for the year totalled £17,357 (2024: £14,202). Accrued pension contributions outstanding at the balance date totalled £6,279 (2024: £3,678).

16.	RELATED PARTY TRANSACTIONS
	The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the Group.

17.	POST BALANCE SHEET EVENTS

Subsequent to the year end, and as described further elsewhere in the notes the financial statements, management took the decision to close two indoor activity parks within this Company and the sites will be closed.

18.	CONTROLLING PARTY

The parent of the smallest and largest group for which consolidated financial statements are drawn up of which this Company is a member is Activeon AS, a company registered in Norway.

The registered office of the parent is Vollsveien 2a, 1366 Lysaker, Norway.

19.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 1 October 2026 by Stuart Crisp BSc FCA (Senior Statutory Auditor) on behalf of Bishop Fleming Audit Limited.