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Registered number:
FOR THE YEAR ENDED 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
COMPANY INFORMATION
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RICHARDSONS LEISURE LIMITED
CONTENTS
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RICHARDSONS LEISURE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 2 NOVEMBER 2025
The board are pleased to present the company's strategic report for the year ended 2 November 2025.
The company‘s principal activity during the period was the operation of a leisure business including boating holidays, a family holiday park and family entertainment centres.
The directors were pleased with the results of the company in what was another challenging year for UK holiday, leisure and hospitality. Despite continued volatility in the economy, the directors believe the business is well placed to withstand the current economic environment. The impact of the current state of the economy has been mitigated by investment in the standard of accommodation, including the introduction of two new best in class holiday charter boats. The Board continues to manage the overall strategic plans for the existing outlets as well as looking for new opportunities. Looking forward into 2026 the day charter business will be relocated to Stalham Marina, reducing overheads and creating a day visitor experience, building on the Marina Cafe and generating opportunities to introduce guests to the holiday charter product.
In the course of normal business, the directors continually assess significant risks faced and take action to mitigate the potential impact.
The following risks, whilst not intended to be a comprehensive analysis, constitute the principal risks and uncertainties currently facing the company: Boat Licence regulation - the company must comply with boat safety regulation which is monitored by the Broads Authority. The directors ensure that the company is fully compliant with the regulation, being assessed through the quality assured boatyard scheme. Health & safety and food hygiene - the directors ensure that all reasonable standards of health & safety and food hygiene standards are met, including a process by which risks are identified in a timely manner and remedied accordingly. In addition, staff are appropriately trained and an outside assessor has been contracted for continual review processes and to ensure compliance. Reputation risk - the directors recognise that in operating in a consumer-facing business, the company's business reputation can be damaged in a short timeframe. The directors therefore endeavour to ensure operational controls are continually monitored, and where necessary, improved to mitigate this risk. Holiday trends - the company identifies and understands the domestic holiday trends which are especially evident in the boating and holiday park sector and are well placed to manage this fluctuation by trying to ensure the customer is a returning visitor.
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RICHARDSONS LEISURE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 2 NOVEMBER 2025
The directors consider the following KPl's as important to their business:
Customer experience scores are the key non-financial KPl that are monitored by the directors.
Hemsby Beach Holidays: Google review score for the 2025 and 2024 years, an average score of 4.3 out of 5 was achieved. Tripadvisor scored 3.6 out of 5 for 2025 (3.5 for 2024). Boating Holidays: Google review score for the 2025 and 2024 years, an average score of 4.6 out of 5 was achieved. Tripadvisor scored 4.3 out of 5 for 2025 (4 out of 5 for 2024). Dayboats: Google review score 4.7 out of 5 for 2025. Richardsons FEC: Google review score 4.3 out of 5 for 2025.
This report was approved by the board and signed on its behalf.
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RICHARDSONS LEISURE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 2 NOVEMBER 2025
The directors present their report and the financial statements for the year ended 2 November 2025.
The directors who served during the year were:
The loss for the year, after taxation, amounted to £480,544 (2024 - loss £1,136,387).
Dividends of £Nil (2024 - £256,000) were declared and paid in the year.
The company's financial instruments comprise borrowings, cash and other liquid resources and various items such as trade debtors and creditors that arise directly from its operations.
The main risks arising from these financial instruments are liquidity risk and interest rate risk. The directors review and agree policies for managing each of these risks and they are summarised below. The policies have remained unchanged from previous periods. Liquidity risk In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the company uses a mixture of long-term and short-term debt finance. Primarily, this is achieved through bank overdrafts and loan finance. Interest rate risk The company finances its operations through a mixture of retained profits, bank and other borrowings. The company's exposure to interest rate fluctuations is a risk that the directors are prepared to accept.
The company has continued its practice of keeping employees informed of matters affecting them as employees and the financial and economic factors affecting performance of the group. In selecting, training and promoting staff, the company considers the physically demanding nature of its work. The company is committed to equality of opportunity and to the elimination of discrimination in employment. The company aims to create and maintain a working environment, terms and conditions of employment and personnel and management practices which ensure that no individual receives less favourable treatment on the grounds of his or her race, religion, nationality, ethnic origin, age, disability, gender, sexual orientation or marital status. Employees who become disabled will be retained, where possible, and retrained, where necessary.
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RICHARDSONS LEISURE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 2 NOVEMBER 2025
In accordance with section 414C (11) of the Companies Act 2006, information on exposure to risks and future developments is covered in the strategic report.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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RICHARDSONS LEISURE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 2 NOVEMBER 2025
This report was approved by the board and signed on its behalf.
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RICHARDSONS LEISURE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RICHARDSONS LEISURE LIMITED
We have audited the financial statements of Richardsons Leisure Limited (the 'company') for the year ended 2 November 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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RICHARDSONS LEISURE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RICHARDSONS LEISURE LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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RICHARDSONS LEISURE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RICHARDSONS LEISURE LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
The objectives of our audit in respect of fraud are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both the management and those charged with governance of the company. Due to the field in which the company operates, we identified the areas most likely to have a direct material impact on the financial statements as compliance with UK tax legislation, UK accounting standards and the Companies Act 2006. In addition, we considered the provisions of other laws and regulations which, whilst not having a direct impact on the financial statements, are fundamental to the company's ability to operate including health and safety, Broads Authority regulations, employment law and GDPR. Our approach to identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, included the following:
∙Enquiries with management about any known or suspected instances of non-compliance with laws and regulations including issues with the Broads Authority, accidents in the workplace, potential litigation or claims and fraud;
∙Reviewing legal and professional fees for indicators of litigation;
∙Reviewing board minutes;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
∙Assessing the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance;
∙Challenging assumptions and judgements made by management in their significant accounting estimates, in particular in relation to the depreciation of tangible fixed assets;
∙Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business.
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RICHARDSONS LEISURE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RICHARDSONS LEISURE LIMITED (CONTINUED)
Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Berry & Warren
54 Thorpe Road
NR1 1RY
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RICHARDSONS LEISURE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
REGISTERED NUMBER: 00685774
BALANCE SHEET
AS AT 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
REGISTERED NUMBER: 00685774
BALANCE SHEET (CONTINUED)
AS AT 2 NOVEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 33 form part of these financial statements.
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RICHARDSONS LEISURE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
Richardsons Leisure 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.
2.Accounting policies
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 judgment in applying the company's accounting policies (see note 3).
The financial statements are presented in Sterling (£) and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Richardsons Leisure (Holdings) Limited as at 2 November 2025 and these financial statements may be obtained from Companies House at Companies House, Crown Way, Cardiff, CF14 3UZ.
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
2.Accounting policies (continued)
The external finance is provided by the company's bankers with whom there is a good relationship and who continue to support the company. On the basis of the above and considering the current cash position at the date of signing the accounts, the directors believe it is appropriate to continue to prepare the financial statements on a going concern basis.
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
2.Accounting policies (continued)
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
2.Accounting policies (continued)
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
2.Accounting policies (continued)
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.
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.
Equipment on boats is capitalised on the purchase of hirecraft but not depreciated as items are replaced as and when required.
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
2.Accounting policies (continued)
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
2.Accounting policies (continued)
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.
The judgements, estimates and assumptions which have significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are addressed below: 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 utilization and the physical condition of the assets. Employees share reserve The fair value of the liability to repurchase the shares has been estimated and is recognised on a straight-line basis over nine years to represent the rendering of services to which the payment relates. The fair value is reassessed annually and amended when necessary to reflect current estimate of the future settlement value of the transaction.
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
12.Taxation (continued)
There were no factors that may affect future tax charges.
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
The preference shares will be paid a cumulative net cash dividend at the preference dividend rate. The shares are redeemable between 2024 and 2029.
During the year under review, the company redeemed 750,000 redeemable preference shares at par.
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
Share premium account
Capital redemption reserve
Employee share reserve
The services are provided to the company and charged to the profit and loss account as well as the employee share reserve. The directors consider this to be a cash-settled share-based payment and that the company will receive a demand to repurchase the shares in nine years. The fair value of the liability to repurchase the shares has been estimated and is recognised on a straight-line basis over nine years, to represent rendering of services to which the payment relates. The recognised liability at 2 November 2025 of £677,776 (2024 - £542,220) has been recognised by the parent company. The transfer of the reserve to the profit and loss account has been made to recognise that the underlying services to which the charge relates have been provided.
Profit and loss account
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £55,588 (2024 - £54,479). Contributions totalling £Nil (2024 - £6,702) were payable to the fund at the balance sheet date and are included in creditors.
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RICHARDSONS LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 NOVEMBER 2025
The ultimate parent company is
The group is controlled by the
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