ACCOUNTS - Final Accounts preparation

COMMITMENTS UNDER OPERATING LEASES

At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Registered number: 11532478

FUTURES LEISURE (LINCOLN) LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

FUTURES LEISURE (LINCOLN) LIMITED

REGISTERED NUMBER:11532478

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	5		215,456		198,786
			215,456		198,786
Current assets
Stocks		7,304		8,317
Debtors: amounts falling due within one year	6	591,615		462,820
Cash at bank and in hand	7	79,197		136,349
		678,116		607,486
Creditors: amounts falling due within one year	8	(177,997)		(241,000)
Net current assets			500,119		366,486
Total assets less current liabilities			715,575		565,272
Provisions for liabilities
Deferred tax	9		(40,111)		(17,380)
Net assets			675,464		547,892

Capital and reserves
Called up share capital	10	1	1
Profit and loss account	11	675,463	547,891
		675,464	547,892

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: 30 September 2026

The notes on pages 2 to 9 form part of these financial statements.

Page 1

FUTURES LEISURE (LINCOLN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	GENERAL INFORMATION

The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:

5 Patchway Trading Estate
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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

In considering the appropriate basis on which to prepare the financial statements, the directors are required to consider if the Company can continue in operational existence for at least 12 months from the date of approval of these financial statements.
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

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
Turnover from sales of gift cards is recognised at the earlier of point of redemption and the point of expiry.

2.4

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.

Page 2

FUTURES LEISURE (LINCOLN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.5

INTEREST INCOME

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

2.6

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.

2.7

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.

2.8

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.

2.9

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.

Page 3

FUTURES LEISURE (LINCOLN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.9

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
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, 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.

2.10

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.

2.11

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.

2.12

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.

2.13

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

FUTURES LEISURE (LINCOLN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.14

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.

2.15

FINANCIAL INSTRUMENTS

The company only enters into basic financial instrument transactions that result in recognition of financial assets and liabilities and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.16

DIVIDENDS

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

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.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 56 (2024:36).

Page 5

FUTURES LEISURE (LINCOLN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

5.	TANGIBLE FIXED ASSETS

	Long-term leasehold property	Plant and machinery	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£
COST
At 1 January 2025	171,512	322,425	52,017	44,668	590,622
Additions	-	43,609	495	1,493	45,597
At 31 December 2025	171,512	366,034	52,512	46,161	636,219
DEPRECIATION
At 1 January 2025	47,172	266,251	47,454	30,959	391,836
Charge for the year on owned assets	6,860	19,437	1,644	986	28,927
At 31 December 2025	54,032	285,688	49,098	31,945	420,763
NET BOOK VALUE
At 31 December 2025	117,480	80,346	3,414	14,216	215,456
At 31 December 2024	124,340	56,174	4,563	13,709	198,786

DEBTORS

					2025	2024
					£	£


Trade debtors	915	-
Amounts owed by group undertakings	517,348	393,645
Other debtors	1,044	22,883
Prepayments and accrued income	72,308	46,292
	591,615	462,820

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

Page 6

FUTURES LEISURE (LINCOLN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

7.	CASH AND CASH EQUIVALENTS
		2025	2024
		£	£

Cash at bank and in hand	79,197	136,349
	79,197	136,349

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Trade creditors	3,733	19,517
Amounts owed to group undertakings	150,050	-
Corporation tax	360	57,949
Other taxation and social security	-	53,524
Other creditors	2,668	40,820
Accruals and deferred income	21,186	69,190
	177,997	241,000

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

Page 7

FUTURES LEISURE (LINCOLN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

9.	DEFERRED TAXATION

		2025
		£

	At beginning of year	(17,380)
	Charged to profit or loss	(22,731)
	AT END OF YEAR	(40,111)

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

	Fixed asset timing differences	(40,111)	(17,380)
		(40,111)	(17,380)

10.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

100 (2024:100) Ordinary shares of £0.01 each	1.00	1.00

11.

RESERVES

Profit and loss account

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

12.	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 £3,230 (2024: £1,653). Accrued pension contributions outstanding at the balance date totalled £NIL (2024: £454).

Page 8

FUTURES LEISURE (LINCOLN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Not later than 1 year	125,000	100,000
Later than 1 year and not later than 5 years	500,000	400,000
Later than 5 years	109,375	691,667
	734,375	1,191,667

14.	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.

15.	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.

16.	AUDITORS' INFORMATION

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

The audit report was signed on 30 September 2026 by Stuart Crisp BSc FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

Page 9