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REGISTERED NUMBER: 08020974 (England and Wales)















Report of the Director and

Unaudited Consolidated Financial Statements for the Year Ended 31 December 2024

for

PI Property (Leisure) Limited

PI Property (Leisure) Limited (Registered number: 08020974)






Contents of the Consolidated Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Report of the Director 2

Consolidated Income Statement 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Notes to the Consolidated Financial Statements 8


PI Property (Leisure) Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: M Petrouis





REGISTERED OFFICE: Muckley Corner House
Walsall Road
Lichfield
Staffordshire
WS14 0BG





REGISTERED NUMBER: 08020974 (England and Wales)





ACCOUNTANT: Groucott Moor Limited
Lombard House
Cross Keys
Lichfield
Staffordshire
WS13 6DN

PI Property (Leisure) Limited (Registered number: 08020974)

Report of the Director
for the Year Ended 31 December 2024

The director presents his report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the management of ice rinks and other leisure facilities.

DIRECTOR
M Petrouis held office during the whole of the period from 1 January 2024 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M Petrouis - Director


21 March 2025

PI Property (Leisure) Limited (Registered number: 08020974)

Consolidated Income Statement
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   

TURNOVER 3,462,550 3,209,150

Administrative expenses 2,233,532 2,456,331
1,229,018 752,819

Other operating income 1,585,948 84,661
OPERATING PROFIT 4 2,814,966 837,480


Interest payable and similar expenses 15,142 15,047
PROFIT BEFORE TAXATION 2,799,824 822,433

Tax on profit 242,649 170,280
PROFIT FOR THE FINANCIAL
YEAR

2,557,175

652,153

Profit attributable to:
Owners of the parent 2,557,175 652,153

PI Property (Leisure) Limited (Registered number: 08020974)

Consolidated Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 6 - -
Tangible assets 7 3,314,024 2,965,818
Investments 8 - -
3,314,024 2,965,818

CURRENT ASSETS
Debtors 9 9,205,625 6,110,619
Cash at bank and in hand 443,401 39,900
9,649,026 6,150,519
CREDITORS
Amounts falling due within one year 10 7,396,261 6,050,246
NET CURRENT ASSETS 2,252,765 100,273
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,566,789

3,066,091

CREDITORS
Amounts falling due after more than one
year

11

37,651

94,128
NET ASSETS 5,529,138 2,971,963

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 5,529,137 2,971,962
SHAREHOLDERS' FUNDS 5,529,138 2,971,963

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a) ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

PI Property (Leisure) Limited (Registered number: 08020974)

Consolidated Balance Sheet - continued
31 December 2024


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

The financial statements were approved by the director and authorised for issue on 21 March 2025 and were signed by:





M Petrouis - Director


PI Property (Leisure) Limited (Registered number: 08020974)

Company Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 6 - -
Tangible assets 7 2,781,974 2,443,662
Investments 8 35,004 35,004
2,816,978 2,478,666

CURRENT ASSETS
Debtors 9 8,052,545 4,544,554
Cash at bank 432,293 6,488
8,484,838 4,551,042
CREDITORS
Amounts falling due within one year 10 4,923,140 2,520,724
NET CURRENT ASSETS 3,561,698 2,030,318
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,378,676

4,508,984

CREDITORS
Amounts falling due after more than one
year

11

37,651

94,128
NET ASSETS 6,341,025 4,414,856

PI Property (Leisure) Limited (Registered number: 08020974)

Company Balance Sheet - continued
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 6,341,024 4,414,855
SHAREHOLDERS' FUNDS 6,341,025 4,414,856

Company's profit for the financial year 1,926,169 1,654,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the director and authorised for issue on 21 March 2025 and were signed by:





M Petrouis - Director


PI Property (Leisure) Limited (Registered number: 08020974)

Notes to the Consolidated Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

PI Property (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 General Information page.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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.


PI Property (Leisure) Limited (Registered number: 08020974)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2023 - NIL).

4. OPERATING PROFIT

The operating profit is stated after charging:

31.12.24 31.12.23
£    £   
Depreciation - owned assets 157,040 146,970
Goodwill amortisation - 14,568

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


PI Property (Leisure) Limited (Registered number: 08020974)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

6. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 264,972
AMORTISATION
At 1 January 2024
and 31 December 2024 264,972
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

Company
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 230,000
AMORTISATION
At 1 January 2024
and 31 December 2024 230,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

PI Property (Leisure) Limited (Registered number: 08020974)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

7. TANGIBLE FIXED ASSETS

Group
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 3,018,087 877,597 3,895,684
Additions - 584,911 584,911
Disposals (79,665 ) - (79,665 )
At 31 December 2024 2,938,422 1,462,508 4,400,930
DEPRECIATION
At 1 January 2024 269,784 660,082 929,866
Charge for year 67,231 89,809 157,040
At 31 December 2024 337,015 749,891 1,086,906
NET BOOK VALUE
At 31 December 2024 2,601,407 712,617 3,314,024
At 31 December 2023 2,748,303 217,515 2,965,818

Company
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 2,594,975 20,000 2,614,975
Additions - 468,283 468,283
Disposals (79,665 ) - (79,665 )
At 31 December 2024 2,515,310 488,283 3,003,593
DEPRECIATION
At 1 January 2024 151,313 20,000 171,313
Charge for year 50,306 - 50,306
At 31 December 2024 201,619 20,000 221,619
NET BOOK VALUE
At 31 December 2024 2,313,691 468,283 2,781,974
At 31 December 2023 2,443,662 - 2,443,662

PI Property (Leisure) Limited (Registered number: 08020974)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

8. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 5,000
PROVISIONS
At 1 January 2024
and 31 December 2024 5,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -
Company
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 35,004
NET BOOK VALUE
At 31 December 2024 35,004
At 31 December 2023 35,004

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries


Planet Ice (Milton Keynes) Limited
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG
Nature of business: Granting licences to operate Ice Rinks
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves 751 417
Profit for the year 72,334 162,313

PI Property (Leisure) Limited (Registered number: 08020974)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

8. FIXED ASSET INVESTMENTS - continued

Planet Ice (Hemel Hempstead) Limited
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG
Nature of business: Granting licences to operate Ice Rinks
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves 130,556 (344,748 )
Profit for the year 214,192 62,705

Planet Ice (Skydome) Limited
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG
Nature of business: Granting licences to operate Ice Rinks
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves (371,832 ) (401,225 )
Profit for the year 29,393 19,589

Planet Ice (Peterborough) Limited
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG
Nature of business: Granting licences to operate Ice Rinks
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves (161,822 ) (612,999 )
Profit/(loss) for the year 451,177 (75,015 )

Planet Ice (Gosport) Limited
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG
Nature of business: Granting licences to operate Ice Rinks
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves 671 971
Profit for the year 105,700 78,337

PI Property (Leisure) Limited (Registered number: 08020974)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

8. FIXED ASSET INVESTMENTS - continued

Planet Ice (Basingstoke) Limited
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG
Nature of business: Granting licences to operate Ice Rinks
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves (9,349 ) 581
(Loss)/profit for the year (9,930 ) 53,512

Planet Ice (Lichfield) Limited
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG
Nature of business: Granting licences to operate Ice Rinks
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves (37,504 ) (32,282 )
Loss for the year (5,222 ) (10,555 )

Planet Ice (Uttoxeter) Limited
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG
Nature of business: Granting licences to operate ice rinks
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves (67,749 ) (18,992 )
Loss for the year (48,757 ) (29,155 )

Planet Ice (Bristol)
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG
Nature of business: Granting licences to operate ice rinks
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves 507 390
Profit for the year 412,117 264,297


PI Property (Leisure) Limited (Registered number: 08020974)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Trade debtors 11,201 24,015 2,400 6,347
Other debtors 9,194,424 6,086,604 8,050,145 4,538,207
9,205,625 6,110,619 8,052,545 4,544,554

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Hire purchase contracts 56,477 56,477 56,477 56,477
Trade creditors 1,591,607 1,985,268 998,538 1,122,638
Amounts owed to group undertakings - - 922,318 1,052,647
Taxation and social security 589,010 265,182 332,767 87,044
Other creditors 5,159,167 3,743,319 2,613,040 201,918
7,396,261 6,050,246 4,923,140 2,520,724

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Hire purchase contracts 37,651 94,128 37,651 94,128