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Registered number: 14485695
ATHLEY LIMITED
UNAUDITED
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
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ATHLEY LIMITED
CONTENTS
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Notes to the financial statements
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ATHLEY LIMITED
COMPANY INFORMATION
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Mcdonald's Bilborough Top
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Cooper Parry Advisory Limited
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Page 1
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ATHLEY LIMITED
REGISTERED NUMBER: 14485695
BALANCE SHEET
AS AT 31 DECEMBER 2025
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Creditors: amounts falling due within one year
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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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The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and 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 director acknowledges his 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 statement of income and retained earnings 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:
Page 2
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ATHLEY LIMITED
REGISTERED NUMBER: 14485695
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
Page 3
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ATHLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Athley Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the company information page.
The financial statements are prepared in Sterling (£) which is the functional currency of the company. The financial statements are for the year ended 31 December 2025 (2024: year ended 31 December 2024).
2.Accounting policies
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Basis of preparation of financial statements
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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 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 (see note 3).
The director has evaluated the company's ability to continue as a going concern, taking into account current economic conditions, industry-wide challenges, and internal financial forecasts. This evaluation included a detailed review of forecasted trading performance and working capital requirements. Trading conditions remain difficult, compounded by ongoing economic uncertainty in the UK driven by elevated inflation, interest rates, and energy costs. In response, the franchisor introduced a series of commercial initiatives across the franchise network in 2026 aimed at enhancing profitability and cash flow. These measures have led to an improvement in gross profit margins, and the company is forecasting an improved financial position for the year ending 31 December 2026 and beyond.
The director acknowledges that the company was in a net current liabilities position at the balance sheet date. This was not unexpected as it is common for franchises to take several years to recover their initial investment, and the business model is structured to support long-term growth rather than short-term returns.
Included within creditors due within one year is £497k relating to bank loans. The director is confident that the company has sufficient cash flow to meet its obligations. Also included within the creditors due within one year is £538k relating to trade creditors, of which is largely owed to the franchisor, McDonald's, who has previously demonstrated flexibility and support, including the provision of extended credit terms when necessary.
Considering the continued support from stakeholders and the company's financial forecasts, the director has a reasonable expectation that the company has adequate resources to continue to operate for at least twelve months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is measured at the fair value of the consideration received or receivable for goods at its restaurants in the ordinary course of the company's activities. Turnover is shown net of discounts and Value Added Tax.
The company recognises turnover when the amount of turnover can be reliably measured, it is probable that future economic benefits will flow to the company, and specific criteria have been met for each of the company's activities.
Page 4
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ATHLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Franchise rights & fees are initially recognised at cost and are subsequently measured at cost less accumulated amortisation and impairment losses. They are amortised over their useful lives, which is taken as the remaining term stated in the franchise agreements.
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.
Depreciation is provided on the following basis:
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25% reducing balance method
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Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cash at bank and in hand are basic financial assets comprising of cash in hand, demand deposits with bank, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within current liabilities.
Page 5
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ATHLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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Operating lease commitments
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
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Pension costs and other post-retirement benefits
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The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
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Impairment of fixed assets
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If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Page 6
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ATHLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted cost of the future holiday entitlement so accrued at the balance sheet date.
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilties like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
For financial assets measured at amortised cost, the impairment cost is measured at the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the assets effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
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.
Interest payable are charged to the profit and loss account 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.
Equity dividends are recognised when they legally become payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Page 7
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ATHLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Judgements in applying accounting policies and key sources of estimation uncertainty
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In the process of applying the company's accounting policies, management are required to make certain estimates and judgements. The key estimates and judgements are as follows:
Depreciation and residual values
The director has reviewed the asset lives and associated residual values of all fixed asset classes, and has concluded that asset lives and residual values are appropriate.
Impairment of fixed assets
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.
Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted cost of the future holiday entitlement so accrued at the balance sheet date.
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The average monthly number of employees, including directors, during the year was 270 (2024: 225).
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Page 8
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ATHLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Fixed asset investments consists of 3,750 (2024: 3,750) ordinary shares of £1 each in Fries Holding Company Limited, a company registered in Guernsey. The investments are included in the accounts at cost.
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Page 9
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ATHLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due within one year
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Other loans (see note 13)
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Social security and other taxes
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Creditors: Amounts falling due after more than one year
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Other loans (see note 13)
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Page 10
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ATHLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12.Deferred taxation (continued)
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Allotted, called up and fully paid
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75 (2024: 75) Ordinary A shares of £1 each
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25 (2024: 25) Ordinary B shares of £1 each
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Profit and loss account
The profit and loss accounts represents accumulated profits and losses for the current period and prior periods less dividends paid.
Page 11
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ATHLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Related party transactions
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JRA Family Restaurants Limited
As at the balance sheet date, the total amount owed to JRA Family Restaurants Limited, a related party by way of control by a family member is £1,487,812 (2024: £1,984,563). Interest is payable on the loan at 0.5% above the base rate of the Bank of England and is repayable over five years in equal monthly instalments.
Total interest paid amounts to £25,458 (2024: £15,268).
During the year the company purchased £626,460 (2024: £350,791) of goods from, and sold £10,962 (2024: £19,299) of goods to, JRA Family Restaurants Limited. At the balance sheet date, there is an amount included within trade creditors totalling £51,595 (2024: £40,624).
T Atherton
As at the balance sheet date, the total amount owed to the director, T Atherton, was £71,441 (2024: £60,190). The loan is interest free and repayable on demand.
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The ultimate controlling party is T Atherton.
Page 12
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