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: 09474055

FREEDOME UK SITE 1 LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

FREEDOME UK SITE 1 LIMITED

REGISTERED NUMBER:09474055

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	5		1,207		1,764
Tangible assets	6		-		678,123
			1,207		679,887
Current assets
Stocks	7	9,187		35,901
Debtors: amounts falling due within one year	8	177,517		868,719
Cash at bank and in hand	9	70,298		34,831
		257,002		939,451
Creditors: amounts falling due within one year	10	(413,371)		(368,791)
Net current (liabilities)/assets			(156,369)		570,660
Total assets less current liabilities			(155,162)		1,250,547
Provisions for liabilities
Dilapidation provision	11	(65,500)		-
			(65,500)		-
Net (liabilities)/assets			(220,662)		1,250,547

Capital and reserves
Called up share capital	100	100
Profit and loss account	(220,762)	1,250,447
	(220,662)	1,250,547

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FREEDOME UK SITE 1 LIMITED

REGISTERED NUMBER:09474055

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2025

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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: 6 October 2026

The notes on pages 3 to 11 form part of these financial statements.

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FREEDOME UK SITE 1 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

Management continually reviews the performance of the group’s sites in the UK and, as a result, this Company’s site was closed since the year-end. It is expected that the Company will be wound up and the directors therefore do not believe that the going concern basis is appropriate. Therefore these financial statements are prepared on a basis other than going concern.

Under a basis other than going concern, the Company's assets are written down to net realisable value and provision is made for any contractual commitments that have become onerous at the reporting date. Note 7 discloses the impairment charge arising from the write down of tangible fixed assets at the trading site.

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.

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FREEDOME UK SITE 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.4

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:

Gift Cards

Revenue from sales of gift cards is recognised at the earlier of point of redemption and the point 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

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.

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FREEDOME UK SITE 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.8

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.

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

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.

2.10

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, 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	-	Staight line over 3 - 7 years
Computer equipment	-	Staight line over 3 years

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.

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FREEDOME UK SITE 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.11

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.

2.12

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.

2.13

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.

2.14

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.

2.15

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.

2.16

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.

3.	OTHER OPERATING INCOME

Other operating income includes £NIL (2024: £2,833,639) arising from the write-off of an intercompany loan payable to a group undertaking.

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FREEDOME UK SITE 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Employees	29	35

5.	INTANGIBLE ASSETS

		Trademarks
		£
	COST
	At 1 January 2025	2,785
	At 31 December 2025	2,785
	AMORTISATION
	At 1 January 2025	1,021
	Charge for the year on owned assets	557
	At 31 December 2025	1,578
	NET BOOK VALUE
	At 31 December 2025	1,207
	At 31 December 2024	1,764

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FREEDOME UK SITE 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

6.	TANGIBLE FIXED ASSETS

	Long-term leasehold property	Plant and machinery	Computer equipment	Total
	£	£	£	£
COST
At 1 January 2025	1,276,302	684,210	4,582	1,965,094
Additions	889	17,810	140	18,839
At 31 December 2025	1,277,191	702,020	4,722	1,983,933
DEPRECIATION
At 1 January 2025	711,652	573,146	2,173	1,286,971
Charge for the year on owned assets	83,311	40,698	1,551	125,560
Impairment charge	482,228	88,176	998	571,402
At 31 December 2025	1,277,191	702,020	4,722	1,983,933
NET BOOK VALUE
At 31 December 2025	-	-	-	-
At 31 December 2024	564,650	111,064	2,409	678,123

Following a review of the performance of the group’s sites in the UK, this Company’s site was closed since the year-end. The impairment charge above reflects the write down of the related assets at that
site.

In addition, and following the same review, an impairment expense of £685,126 was recognised in respect of an irrecoverable balance due from a fellow group undertakings.

7.	STOCKS
		2025	2024
		£	£

Goods for sale	9,187	35,901
	9,187	35,901

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FREEDOME UK SITE 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

DEBTORS

					2025	2024
					£	£


Trade debtors	1,245	370
Amounts owed by group undertakings	20,662	669,112
Other debtors	125,855	109,104
Prepayments and accrued income	29,755	90,133
	177,517	868,719

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

9.	CASH AND CASH EQUIVALENTS
		2025	2024
		£	£

Cash at bank and in hand	70,298	34,831
	70,298	34,831

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

Bank loans	4,059	13,799
Trade creditors	8,117	112,492
Amounts owed to group undertakings	274,256	203,302
Other taxation and social security	23,429	14,264
Other creditors	2,753	3,358
Accruals and deferred income	100,757	21,576
	413,371	368,791

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

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FREEDOME UK SITE 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

11.	PROVISIONS

		Dilapidation provision
		£

	Charged to profit or loss	65,500
	AT 31 DECEMBER 2025	65,500

A provision has been recognised for the estimated cost of restoring the company's leased property to the condition required under the terms of the lease. The provision represents management’s best estimate of the expenditure required to settle the obligation at the reporting date.

12.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

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

13.

RESERVES

Profit and loss account

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

14.	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 £3,972 (2024: £4,651). Accrued pension contributions outstanding at the balance date totalled £738 (2024: £808).

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FREEDOME UK SITE 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Not later than 1 year	226,831	200,486
Later than 1 year and not later than 5 years	907,324	905,128
Later than 5 years	-	472,565
	1,134,155	1,578,179

After the year-end the company negotiated a surrender of its lease and therefore, while the amounts above reflect the contractual commitments at 31 December 2025, the final lease costs subsequently incurred by the company in 2026 were significantly lower than the amounts shown above.

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, the Company ceased trading at its indoor activity park and the site was 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.

In their report, the auditors emphasised the following matter without qualifying their report:

EMPHASIS OF MATTER - FINANCIAL STATEMENTS PREPARED ON A BASIS OTHER THAN AS A GOING CONCERN

We draw attention to note 2.2 and 17 to the financial statements which explains that the directors have ceased the trade of the Company and intend that the company will be wound up in due course and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than as a going concern as described in note 2.2. Our opinion is not modified in respect of this matter.

The audit report was signed on 6 October 2026 by Stuart Crisp BSc FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

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