REGISTERED NUMBER: 02942989 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2024 TO 30 MARCH 2025

FOR

UTOPIA LEISURE LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

7

Report of the Independent Auditors

10

Statement of Comprehensive Income

14

Statement of Financial Position

15

Statement of Changes in Equity

16

Statement of Cash Flows

17

Notes to the Statement of Cash Flows

18

Notes to the Financial Statements

20

DIRECTOR:

Mrs D Hinchcliffe

SECRETARY:

M Thomas

REGISTERED OFFICE:

1 St Pauls Square

Liverpool

Merseyside

L3 9SJ

REGISTERED NUMBER:

02942989 (England and Wales)

AUDITORS:

Vista Audit LLP

Chartered Accountants

Statutory Auditor

Chancery House

3 Hatchlands Road

Redhill

Surrey

RH1 6AA

The director presents her strategic report for the period 1 April 2024 to 30 March 2025.

REVIEW OF BUSINESS

The company owns and operates 5 luxury, award winning hotels in the South East of England. Turnover is £25.4m and the company made a profit before tax of £2.8m, down on the previous year, but still a strong result in the midst of a cost of living crisis. The decrease in turnover was driven by a decrease in occupancy rates across all 5 hotels from 59% in 2024 to 57% in 2025. Overall, the net profit margin has been maintained at 11%.

The company remains committed to providing a high quality experience for its guests and already this trading year there are more encouraging signs with an uptake for future bookings.

PRINCIPAL RISKS AND UNCERTAINTIES

The director considers the following to be the principal risks facing the company:

Credit risk

Credit risk is the risk of financial loss to the company if a customer or counterpart to a financial instrument fails to meet its contractual obligations. The company is mainly exposed to credit risk from credit sales. It is company policy to assess the credit risk of new customers. Each new customer is analysed individually for creditworthiness before the company's standard payment terms and conditions are offered.

At a local level, a monthly review of the trade receivables' aged analysis is undertaken and customers' credit is reassessed periodically. Existing customers that become "high risk" as a result of the periodic reassessment are placed on a restricted customer list and future credit sales are made only with approval of the Board, otherwise payment in advance is required.

Credit risk also arises from cash and cash equivalents and deposits with banks and financial institutions. The company manages this risk by assessing the financial performance and strength of the bank and financial institutions that it utilises.

Liquidity risk

Liquidity risk arises from the company's management of working capital and the finance charges and principal repayments on its debt instruments. It is the risk that the company will encounter difficulty in meeting its financial obligations as they fall due.

The Board receives rolling cash flow projections on a monthly basis as well as information regarding cash balances. At the end of the financial period these projections indicated that the company expected to have sufficient liquid resources to meet its obligations under all reasonably expected circumstances. The director has considered it appropriate to prepare the accounts on a going concern basis.

PRINCIPAL RISKS AND UNCERTAINTIES - CONTINUED

Macro external factors

Macro external factors such as political and economic disruption, the emerging risk of infectious diseases, actual or threatened acts of terrorism or war, natural or man-made disasters, and inflationary pressures could have an impact on the company's ability to perform and grow, including disrupting hotel supply chains and increasing operating costs for the hotels.

Inflationary forces on labour and energy could create significant pressures to hotels and their operating costs. Local and international political tensions also continue to create uncertainty for operations that depend on international travel.

Management continue to monitor intelligence from a range of external and internal sources (e.g. government health and travel advice) to evolve guidance for the safe operation of their hotels. Management have also reviewed lessons learned from the pandemic and how they can be applied to future crises.

Disaster incidents that could seriously impact the business such as fire, flood or terrorist attack

A comprehensive disaster recovery plan, with back-up processes and facilities to ensure the business can continue to operate with minimal disruption, is in place. Appropriate insurance cover protects the business financially in the event of a disaster incident.

Failure of information systems, cyber-attack or data protection breach

Inherent threats to cybersecurity and information governance remain significant and the company is responsible for a range of high-value assets (employee, guest and other sensitive data) which may be targeted by various ‘threat actors’ (including organised criminals and third-parties).

The company has specialist service providers which advise and support the business on its IT security and GDPR responsibilities. Staff training, data back-up, penetration testing and other security measures are also in place.

Competition

New entrants into the market in close proximity to the company's hotels resulting in over supply. The company continues to invest in the existing hotel portfolio which, together with a strong focus on guest service and high standards, allows the company's hotels to differentiate from their competitors.

The company's strategy to combat these threats is to continue to develop the quality and range of facilities and to cater for a wider range of different market sectors.

SECTION 172(1) STATEMENT

The Companies (Miscellaneous Reporting) Regulations 2018 ("2018 MRR") require Directors to explain how they have considered the interests of key stakeholders and the broader matters set out in section 172(1) (A) to (F) of the Companies Act 2006 ("S172") when performing their duty to promote the success of the Company under S172. This includes considering the interest of other stakeholders which will have an impact on the long-term success of the company. This S172 statement focuses on matters of strategic importance to Utopia Leisure Limited, and the level of information disclosed is consistent with the size and the complexity of the business.

General confirmation of Directors' duties

When making decisions, The Director ensures that she acts in the way she considers, in good faith, would most likely promote the Company's success for the benefit of its members as a whole.

S172(1) (A) - The likely consequence of any decision in the long term

The company's growth strategy is fundamentally based on creating opportunities that not only benefit communities but also help strengthen the business and demonstrate how responsible hotel management can create economic opportunities. The company has established a holistic approach to ensure a high level of commitment to employees, suppliers and customers. The Director oversees management and, through this oversight, enhances the long-term value of the company. When considering the likely long-term consequences of their decisions the Director will council with senior management and employees and guide them in making everyday decisions that affect the work environment, the sustainability and social impact practices, and the business strategy of the company.

S172(1) (B) - The interest of the company's employees

The Director believes in enhancing the success of employees by concentrating on leadership excellence and personal growth by providing challenging and stimulating work and giving all employees excellent career opportunities based on merit, quality of life at work and pride of affiliation with a great company. This encourages the involvement of employees in the company's performance.

The company is an equal opportunities employer in all aspects of employment. The company is fully committed to providing a good and harmonious working environment that offers equal treatment and equal opportunities for all its associates and where every associate is treated with appropriate respect and dignity. This means that it is the company's policy that there should be no unlawful discrimination, harassment or less favourable treatment or victimisation of any associates, job applicant, customer, provider of services or member of the public, whether in connection with recruitment, placement, training, benefits, terms and conditions, or promotion (or otherwise), either directly or indirectly, or through association or perception, on the grounds of race, caste, nationality, ethnic origin, gender reassignment, marital or family status, disability, trade union membership or activity, sexual orientation, religion or religious beliefs, or age.

S172(1) (C) - The need to foster the company's business relationships with suppliers, customers and others

Suppliers

The Director is mindful of the situation of the company's suppliers and ensures prompt payment where possible to support them. They regularly review contracts and foster close working relationships and have regular dialogue and maintain close communication.

Customers

The company monitors customers' feedback from guest comment cards, ratings on guest online surveys and third party web feedback sites. This feedback offers the hotels the opportunity to review, respond and monitor guest's comments on their recent hotel experience. Reports are also useful to guide action planning in hotels.

The company also has independent assessments of its services to monitor its quality against industry standards.

The company has a comprehensive and proactive approach to risk management, endeavouring to ensure that all customers are always in safe accommodation, maintained and operated in compliance with the appropriate regulations and standards.

S172(1) (D) - The impact of the company's operations on the community and the environment

Through collaboration with stakeholders, the hotels and its employees are impassioned to do good and make a meaningful impact in the communities where they do business. The Director and management work together to perpetuate corporate culture and drive macro business initiatives, including sustainability, industry advocacy, and social impact efforts.

The company's hotels are committed to providing amazing experiences in a manner that ensures a safe and healthy place for employees and guests whilst minimising the hotels' potential impact on the environment. All hotels operate in compliance with all relevant environmental legislation. The company's hotels are committed to reduce, reuse and recycle as much as possible. During the year all hotels continued reducing the use of single-use plastics and all hotels have a zero waste direct to landfill policy with a target of waste to be recycled. The company will continue promoting efficient use of materials and resources throughout their facilities including water, electricity, raw materials and other resources, particularly those that are non-renewable.

The company actively seeks to use energy saving initiatives and has installed solar panels at certain locations.

S172(1) (E) - The desirability of the company maintaining a reputation for high standards of business conduct

The company has a code of business conduct, which it expects all employees acting on behalf of it to be familiar with and comply with. The code of business conduct applies to the business operations of all hotels, the code of conduct provides employees with the necessary information to identity compliance problems, seek advice and report a possible problem to senior management, and also establishes specific rules regarding actions and behaviors of employees representing the company's interests.

The company complies with applicable laws and regulations regarding anti-money laundering and anti-terrorism financing. The company monitors its compliance with the following actions:

- Appropriate policies and procedures

- Recordkeeping standards

- Strict limits on cash, currency, cheque cashing and gift card transactions

S172(1) (F) - The need to act fairly as between members of the company

As all shares are owned by the Director who is closely involved in daily operations, the Director has no material concerns related to the need to act fairly between the Company's members.

NON-FINANCIAL KEY PERFORMANCE INDICATORS

The company monitors key non-financial indicators such as food hygiene ratings, feedback from guest comment cards, ratings on guest online surveys and third party web feedback sites.

The company also has independent assessments of its services to monitor its quality against industry standards.

The company has a comprehensive and proactive approach to risk management, endeavouring to ensure that all customers are always in safe accommodation, maintained and operated in compliance with the appropriate regulations and standards.

FINANCIAL KEY PERFORMANCE INDICATORS

The company monitors key financial performance indicators across all sites in order to maximise performance, room rate and occupancy. Each hotel's performance is benchmarked regularly against hotels in the immediate vicinity.

The key financial performance indicators for the company are highlighted below:

2025

2024

Gross profit margin

40.8%

41.3%

Net profit margin

11.1%

11.2%

Rooms sold

44,433

46,898

Occupancy rate

57%

59%

Trading has been affected by the cost of living crisis in the UK. Gross profit margin has been affected by the 9.8% increase in the minimum wage implemented by the UK Government in April 2024 and net profit margin has been maintained at 11%.

DISABLED EMPLOYEES

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment with the company continues and that the appropriate training is arranged. It is the company's policy that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of the other employees.

EMPLOYEE CONSULTATION

The company places considerable value on the involvement of its employees and has continued to keep them informed on matters affecting them as employees, and on the various factors affecting the performance of the company. Employees are consulted regularly on a wide range of matters affecting their current and future interests.

ON BEHALF OF THE BOARD:

Mrs D Hinchcliffe - Director

13 November 2025

The director presents her report with the financial statements of the company for the period 1 April 2024 to 30 March 2025.

DIVIDENDS

No dividends will be distributed for the period ended 30 March 2025.

FUTURE DEVELOPMENTS

The Director anticipates continued growth in their hotel and hospitality operations and expects to achieve this through the development of existing sites.

DIRECTOR

Mrs D Hinchcliffe held office during the whole of the period from 1 April 2024 to the date of this report.

FINANCIAL INSTRUMENTS

The company is exposed to various risks in relation to financial instruments. The main types of risks are market risk, credit risk and liquidity risk.

The company does not actively engage in the trading of financial assets for speculative purposes nor does it write options. The most significant financial risks to which the company is exposed are described below.

Market risk

The company is exposed to market risk through its use of financial instruments and specifically to interest rate risk, which result from its operating activities.

i) Interest rate risk

The company's policy is to minimise interest rate cash flow risk exposures on long-term financing. Longer-term borrowings are therefore usually at fixed rates.

Credit risk

Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The company is mainly exposed to credit risk from credit sales. It is company policy to assess the credit risk of new customers. Each new customer is analysed individually for creditworthiness before the company's standard payment terms and conditions are offered.

At a local level, a monthly review of the trade receivables' ageing analysis is undertaken and customers' credit is reassessed periodically. Existing customers that become "high risk" as a result of the periodic reassessment are placed on a restricted customer list and future credit sales are made only with approval of the Board, otherwise payment in advance is required.

Credit risk also arises from cash and cash equivalents and deposits with banks and financial institutions.

Liquidity risk

Liquidity risk arises from the company's management of working capital and the finance charges and principal repayments on its debt instruments. It is the risk that the company will encounter difficulty in meeting its financial obligations as they fall due.

The Board receives rolling cash flow projections on a monthly basis in addition to information regarding cash balances. At the end of the financial period these projections indicated that the company expected to have sufficient liquid resources to meet its obligations under all reasonably expected circumstances. The director has therefore considered it appropriate to prepare the accounts on a going concern basis.

GOING CONCERN

The company meets its day-to-day working capital requirements through its generated cashflow and bank facilities. The director has considered the company's operating financial requirements for the forthcoming year, together with the company's forecasts and projections, that show that the company should be able to operate within the level of its current facilities. After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

STREAMLINED ENERGY AND CARBON REPORTING

The SECR disclosure presents the company's carbon footprint within the United Kingdom across Scope 1, 2 and in some extent 3 emissions. It contains an appropriate intensity metric, the total energy use of electricity, gas and transport fuel.

Year

Year

01/04/24 to 30/03/25

03/04/23 to 31/03/24

Energy consumption used to calculate emissions (kWh)

9,777,033

9,222,363

Scope 1 - Emissions from combustion of gas tCO2e

1,105

1,002

Scope 1 - Emissions from combustion of fuel for transport purposes tCO2e

20

17

Scope 2 - Emissions from purchased electricity tCO2e

Location based

737

744

Scope 2 - Emissions from purchased electricity tCO2e

Market based

0

0

Scope 3 - Emissions from combustion of fuel for transport purposes tCO2e

21

18

Total gross tCO2e based on above

Location based

1,883

1,782

Total gross tCO2e based on above

Market based

1,146

1,037

Intensity ratio (tCO2e / turnover)

Location based

0.000074

0.000064

Intensity ratio (tCO2e / turnover)

Market based

0.000045

0.000037

The above emissions data has been externally verified to a limited level of assurance by Schneider Electric. The company has used the Greenhouse Gas (GHG) Protocol Corporate Accounting and Reporting Standard (Revised Edition) as the method to quantify and report emissions. They have been reported in line with the UK Government's Environmental Reporting Guidelines, including streamlined energy and carbon reporting guidance (dated March 2019). The company operates in England only, as such, the emissions stated are amounts for UK and offshore emissions, with no additional global emissions.

The company continues to achieve direct savings in energy and associated carbon emissions, through operational and technological improvements, including:

- The replacement of all lighting with low voltage LED bulbs.

- The replacement of all the boilers with modern, more energy efficient models.

- Installation of Passive Infrared Sensors (PIRs) in applicable areas to reduce unnecessary energy consumption.

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of employee consultation.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable 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 director is 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 enable her to ensure that the financial statements comply with the Companies Act 2006. She is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Vista Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs D Hinchcliffe - Director

13 November 2025

Opinion

We have audited the financial statements of Utopia Leisure Limited (the 'company') for the period ended 30 March 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, 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 our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 March 2025 and of its profit for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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 Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page nine, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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 a Report of the Auditors 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company through discussions with management and from our commercial knowledge and previous experience of the specific business sector. We determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework, the relevant tax compliance regulations in the UK, Money Laundering Regulations 2007, Data Protection Act 2018, Bribery Act 2010, Employment Act 2002, The Food Safety and Hygiene (England) Regulations 2013, Food Safety Act 1990 (amended), Employment (Allocation of Tips) Act 2023, Health & Safety at Work Act 1974, Fire Safety Act 2001, Alcohol licensing and environmental legislation.

-

We obtained a general understanding of how the company complies with these legal and regulatory frameworks by making enquiries of management and those responsible for legal and compliance matters. We corroborated our enquiries through our review of minutes of the Board and certain other procedures.

-

Based on the results of our risk assessment we designed further audit procedures to identify non-compliance with such laws and regulations identified above. Our procedures involved journal entry testing, with a focus on journals meeting our defined risk criteria based on our understanding of the business.

-

We communicated relevant laws and regulations and potential fraud risks to all engagement team members, including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

-

We assessed the appropriateness of the competence and capabilities of the engagement team including consideration of their:

-

understanding of, and practical experience with audit engagements of a similar nature and complexity

-

knowledge of the industry in which the client operates

There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. The primary responsibility for the prevention and detection of fraud rests with those charged with governance of the company and management. We are not responsible for preventing non-compliance with laws and regulations and our audit procedures cannot be expected to detect non-compliance with all laws and regulations.

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 Report of the Auditors.

Use of our 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 a Report of the Auditors 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.

Susan Jones FCA (Senior Statutory Auditor)

for and on behalf of Vista Audit LLP

Chartered Accountants

Statutory Auditor

Chancery House

3 Hatchlands Road

Redhill

Surrey

RH1 6AA

18 November 2025

TURNOVER

4

25,409,073

27,756,968

Cost of sales

15,047,850

16,306,270

GROSS PROFIT

10,361,223

11,450,698

Administrative expenses

7,346,310

7,955,900

3,014,913

3,494,798

Other operating income

-

332

OPERATING PROFIT

6

3,014,913

3,495,130

Income from shares in group undertakings

-

11,227,358

Interest receivable and similar income

101,769

92,737

101,769

11,320,095

3,116,682

14,815,225

Gain/loss on revaluation of investments

-

(11,227,358

)

3,116,682

3,587,867

Interest payable and similar expenses

7

286,599

485,485

PROFIT BEFORE TAXATION

2,830,083

3,102,382

Tax on profit

8

1,038,648

1,079,785

PROFIT FOR THE FINANCIAL PERIOD

1,791,435

2,022,597

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

1,791,435

2,022,597

FIXED ASSETS

Intangible assets

10

1,116,396

1,414,870

Tangible assets

11

38,483,897

39,701,545

Investments

12

19,875

19,875

39,620,168

41,136,290

CURRENT ASSETS

Stocks

13

202,266

208,628

Debtors

14

2,301,472

2,207,852

Cash at bank and in hand

3,175,154

3,958,147

5,678,892

6,374,627

CREDITORS

Amounts falling due within one year

15

7,322,447

8,779,894

NET CURRENT LIABILITIES

(1,643,555

)

(2,405,267

)

TOTAL ASSETS LESS CURRENT LIABILITIES

37,976,613

38,731,023

CREDITORS

Amounts falling due after more than one year

16

(1,537,784

)

(4,086,961

)

PROVISIONS FOR LIABILITIES

20

(558,503

)

(555,171

)

NET ASSETS

35,880,326

34,088,891

CAPITAL AND RESERVES

Called up share capital

21

5,725,002

5,725,002

Retained earnings

30,155,324

28,363,889

SHAREHOLDERS' FUNDS

35,880,326

34,088,891

The financial statements were approved by the director and authorised for issue on 13 November 2025 and were signed by:

Mrs D Hinchcliffe - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 3 April 2023

5,725,002

26,364,078

32,089,080

Changes in equity

Dividends

-

(22,786

)

(22,786

)

Total comprehensive income

-

2,022,597

2,022,597

Balance at 31 March 2024

5,725,002

28,363,889

34,088,891

Changes in equity

Total comprehensive income

-

1,791,435

1,791,435

Balance at 30 March 2025

5,725,002

30,155,324

35,880,326

Cash flows from operating activities

Cash generated from operations

1

4,800,049

4,531,016

Interest paid

(286,599

)

(485,485

)

Tax paid

(1,319,779

)

(1,219,711

)

Net cash from operating activities

3,193,671

2,825,820

Cash flows from investing activities

Purchase of tangible fixed assets

(211,619

)

(407,275

)

Sale of tangible fixed assets

-

1,125

Interest received

99,660

92,737

Net cash from investing activities

(111,959

)

(313,413

)

Cash flows from financing activities

Loan repayments in year

(3,850,000

)

(2,200,000

)

Amount withdrawn by director

(14,705

)

(440,616

)

Net cash from financing activities

(3,864,705

)

(2,640,616

)

Decrease in cash and cash equivalents

(782,993

)

(128,209

)

Cash and cash equivalents at beginning of period

2

3,958,147

4,086,356

Cash and cash equivalents at end of period

2

3,175,154

3,958,147

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

Period

1/4/24

3/4/23

to

to

30/3/25

31/3/24

£

£

Profit before taxation

2,830,083

3,102,382

Depreciation charges

1,727,740

1,787,853

Profit on disposal of fixed assets

-

(1,125

)

Loss on revaluation of fixed assets

-

11,227,358

Sundry receipt

-

(4,641

)

Finance costs

286,599

485,485

Finance income

(101,769

)

(11,320,095

)

4,742,653

5,277,217

Decrease/(increase) in stocks

6,362

(12,825

)

Decrease/(increase) in trade and other debtors

71,872

(310,178

)

Decrease in trade and other creditors

(20,838

)

(423,198

)

Cash generated from operations

4,800,049

4,531,016

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Period ended 30 March 2025

30/3/25

1/4/24

£

£

Cash and cash equivalents

3,175,154

3,958,147

Period ended 31 March 2024

31/3/24

3/4/23

£

£

Cash and cash equivalents

3,958,147

4,086,356

3.	ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1/4/24

Cash flow

At 30/3/25

£

£

£

Net cash

Cash at bank and in hand

3,958,147

(782,993

)

3,175,154

3,958,147

(782,993

)

3,175,154

Debt

Debts falling due within 1 year

(2,200,000

)

1,400,000

(800,000

)

Debts falling due after 1 year

(3,850,000

)

2,450,000

(1,400,000

)

(6,050,000

)

3,850,000

(2,200,000

)

Total

(2,091,853

)

3,067,007

975,154

1.	STATUTORY INFORMATION

Utopia 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.

The presentation currency of the financial statements is the Pound Sterling (£).

All amounts in the financial statements have been rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company meets its day-to-day working capital requirements through its generated cashflow and bank facilities. The director has considered the company's operating financial requirements for the forthcoming year, the company's forecasts and projections, show that the company should be able to operate within the level of its current facilities. After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Preparation of consolidated financial statements

The financial statements contain information about Utopia Leisure Limited as an individual company and do not contain consolidated financial information as the parent of a group. Its subsidiary undertakings, Great Fosters (1931) Limited, Alexander House Hotel Limited and Alexander Hotels Limited, are all dormant and therefore not consolidated.

Significant judgements and estimates

In preparing these financial statements, the director has made the following judgements:

- Determine whether leases entered into by the company either as a lessor or a lessee are operating lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine whether there are indicators of impairment of the company's tangible and intangible assets, including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty

- Tangible fixed assets

Tangible fixed assets, other than investment properties, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

- Intangible fixed assets

Intangible fixed assets are amortised over their useful life taking into account the probable future economic benefits, where appropriate. The economic useful lives of the assets and probable future economic benefits are assessed annually and may vary depending on a number of factors.