Company No: 04648348 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	M C Allen
	W R Betts
	N J Burke

Secretary

N J Burke

Registered office	1 Leazes Avenue
	Chaldon
	Caterham
	Surrey
	CR3 5AG
	United Kingdom

Company number

04648348 (England and Wales)

Accountant	Kreston Reeves LLP
	Springfield House
	Springfield Road
	Horsham
	West Sussex
	RH12 2RG

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fresh Golf Limited for the financial year ended 31 May 2026 which comprise the Balance Sheet and the related notes 1 to 9 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

This report is made solely to the Board of Directors of Fresh Golf Limited, as a body, in accordance with the terms of our engagement letter dated 22 July 2026. Our work has been undertaken solely to prepare for your approval the financial statements of Fresh Golf Limited and state those matters that we have agreed to state to the Board of Directors of Fresh Golf Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fresh Golf Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fresh Golf Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Fresh Golf Limited. You consider that Fresh Golf Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Fresh Golf Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kreston Reeves LLP

Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG

29 October 2026

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	132,146		93,064
		132,146		93,064
Current assets
Stocks		29,421		28,757
Debtors
- due within one year	4	153,375		242,939
- due after more than one year	4	400,000		400,000
Cash at bank and in hand		416,192		369,075
		998,988		1,040,771
Creditors: amounts falling due within one year	5	( 213,414)		( 200,854)
Net current assets		785,574		839,917
Total assets less current liabilities		917,720		932,981
Net assets		917,720		932,981
Capital and reserves
Called-up share capital		1,000		1,000
Profit and loss account		916,720		931,981
Total shareholders' funds		917,720		932,981

For the financial year ending 31 May 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Fresh Golf Limited (registered number: 04648348) were approved and authorised for issue by the Board of Directors on 29 October 2026. They were signed on its behalf by:

N J Burke Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fresh Golf Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Leazes Avenue, Chaldon, Caterham, Surrey, CR3 5AG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £1.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	15 - 20 % reducing balance
Vehicles	5 years straight line
Office equipment	3 years straight line

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Sale and leaseback

Where a sale and leaseback transaction results in a finance lease, no gain is immediately recognised for any excess of sales proceeds over the carrying amount of the asset. Instead, the proceeds are
presented as a liability and subsequently measured at amortised cost using the effective interest method.

When a sale and leaseback transaction results in an operating lease, and it is clear that the transition is established at fair value any profit or loss is recognised immediately. If the sale price is below fair value, any profit or loss is recognised immediately unless the loss is compensated for by the future lease payments at below market price. In that case any such loss is amortised in proportion to the lease payments over the period for which the asset is expected to be used. If the sale price is above fair value, the excess over fair value is amortised over the period for which the asset is expected to be used.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	21		20

3. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£
Cost
At 01 June 2025	178,376		0		8,202		186,578
Additions	32,881		30,841		192		63,914
Disposals	( 5,500)		0		0		( 5,500)
At 31 May 2026	205,757		30,841		8,394		244,992
Accumulated depreciation
At 01 June 2025	85,799		0		7,715		93,514
Charge for the financial year	15,072		4,056		204		19,332
At 31 May 2026	100,871		4,056		7,919		112,846
Net book value
At 31 May 2026	104,886		26,785		475		132,146
At 31 May 2025	92,577		0		487		93,064

4. Debtors

	2026		2025
	£		£
Debtors: amounts falling due within one year
Trade debtors	16,879		18,409
Prepayments and accrued income	18,988		120,728
Deferred tax asset	15,425		10,427
Other debtors	102,083		93,375
	153,375		242,939
Debtors: amounts falling due after more than one year
Accrued income	400,000		400,000

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	0		10,506
Trade creditors	77,666		36,826
Amounts owed to connected companies	11,868		15,178
Accruals and deferred income	85,969		97,360
Other taxation and social security	36,962		39,971
Other creditors	949		1,013
	213,414		200,854

There are no amounts included above in respect of which any security has been given by the small entity.

6. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	10,427		27,125
Credited/(charged) to the Profit and Loss Account	4,998		( 16,698)
At the end of financial year	15,425		10,427

The deferred taxation balance is made up as follows:

	2026		2025
	£		£
Fixed asset timing differences	( 33,036)		( 22,434)
Short term timing differences	6,371		6,358
Losses and other deductions	42,090		26,503
	15,425		10,427

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2026		2025
	£		£
Within one year	55,736		47,500
Between one and five years	58,884		92,658
	114,620		140,158

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. 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 £149,611 (2025 - £48,576). Contributions totalling £949 (2025 - £1,013) were payable to the fund at the balance sheet date and are included in creditors.

8. Related party transactions

Transactions with owners holding a participating interest in the entity

Horsham Leisure Limited
(Same directors)
At the balance sheet date the amount due to Horsham Leisure Limited was £11,868 (2025 - 15,178).

9. Events after the Balance Sheet date

On 11 August 2026 Fresh Golf Holdings Limited purchased 100% of the share capital of Fresh Golf Limited as a share for share exchange.