REGISTERED NUMBER: 05846938 (England and Wales) |
Report of the Director and |
Unaudited Consolidated Financial Statements for the Year Ended 31 December 2024 |
for |
The Ice Rink Company Limited |
REGISTERED NUMBER: 05846938 (England and Wales) |
Report of the Director and |
Unaudited Consolidated Financial Statements for the Year Ended 31 December 2024 |
for |
The Ice Rink Company Limited |
The Ice Rink Company Limited (Registered number: 05846938) |
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 Statement of Financial Position | 4 |
Company Statement of Financial Position | 6 |
Notes to the Consolidated Financial Statements | 8 |
The Ice Rink Company Limited |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANT: |
Lombard House |
Cross Keys |
Lichfield |
Staffordshire |
WS13 6DN |
The Ice Rink Company Limited (Registered number: 05846938) |
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 property investments and ice rinks. |
DIRECTOR |
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: |
The Ice Rink Company Limited (Registered number: 05846938) |
Consolidated Income Statement |
for the Year Ended 31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ |
TURNOVER | 3,038,476 | 2,912,363 |
Administrative expenses | 1,493,544 | 1,710,191 |
1,544,932 | 1,202,172 |
Other operating income | 1,506,778 | 234,077 |
OPERATING PROFIT | 4 | 3,051,710 | 1,436,249 |
Interest receivable and similar income | - | 9 |
3,051,710 | 1,436,258 |
Interest payable and similar expenses | 200,287 | 235,842 |
PROFIT BEFORE TAXATION | 2,851,423 | 1,200,416 |
Tax on profit | 474,248 | 275,309 |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 2,377,175 | 925,107 |
The Ice Rink Company Limited (Registered number: 05846938) |
Consolidated Statement of Financial Position |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 6 | - | - |
Tangible assets | 7 | 6,772,537 | 6,896,536 |
Investments | 8 | - | - |
6,772,537 | 6,896,536 |
CURRENT ASSETS |
Stocks | 2,807 | 2,807 |
Debtors | 9 | 4,011,414 | 2,481,786 |
Cash at bank | 165,621 | 95,194 |
4,179,842 | 2,579,787 |
CREDITORS |
Amounts falling due within one year | 10 | 5,852,280 | 6,260,261 |
NET CURRENT LIABILITIES | (1,672,438 | ) | (3,680,474 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
5,100,099 |
3,216,062 |
CREDITORS |
Amounts falling due after more than one year |
11 |
(1,475,964 |
) |
(1,824,727 |
) |
PROVISIONS FOR LIABILITIES | (17,239 | ) | (15,696 | ) |
NET ASSETS | 3,606,896 | 1,375,639 |
The Ice Rink Company Limited (Registered number: 05846938) |
Consolidated Statement of Financial Position - continued |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 76 | 74 |
Capital redemption reserve | 24 | 24 |
Retained earnings | 3,606,796 | 1,375,541 |
SHAREHOLDERS' FUNDS | 3,606,896 | 1,375,639 |
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. |
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 |
The Ice Rink Company Limited (Registered number: 05846938) |
Company Statement of Financial Position |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 6 |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Stocks |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
11 |
NET ASSETS |
The Ice Rink Company Limited (Registered number: 05846938) |
Company Statement of Financial Position - continued |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 2,317,316 | 905,287 |
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 were approved by the director and authorised for issue on |
The Ice Rink Company Limited (Registered number: 05846938) |
Notes to the Consolidated Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
The Ice Rink Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Management consider than certain accounting assumptions relating to revenue, stock and provisions are its critical accounting polices. |
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 |
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 |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 statement of financial position date. |
The Ice Rink Company Limited (Registered number: 05846938) |
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 statement of financial position 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. |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees 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 | 214,781 | 157,595 |
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. |
The Ice Rink Company Limited (Registered number: 05846938) |
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 | 1,196,863 |
AMORTISATION |
At 1 January 2024 |
and 31 December 2024 | 1,196,863 |
NET BOOK VALUE |
At 31 December 2024 | - |
At 31 December 2023 | - |
7. | TANGIBLE FIXED ASSETS |
Group |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2024 | 7,145,612 | 2,660,690 | 9,806,302 |
Additions | - | 90,782 | 90,782 |
At 31 December 2024 | 7,145,612 | 2,751,472 | 9,897,084 |
DEPRECIATION |
At 1 January 2024 | 733,112 | 2,176,654 | 2,909,766 |
Charge for year | 142,175 | 72,606 | 214,781 |
At 31 December 2024 | 875,287 | 2,249,260 | 3,124,547 |
NET BOOK VALUE |
At 31 December 2024 | 6,270,325 | 502,212 | 6,772,537 |
At 31 December 2023 | 6,412,500 | 484,036 | 6,896,536 |
The Ice Rink Company Limited (Registered number: 05846938) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2024 |
7. | TANGIBLE FIXED ASSETS - continued |
Company |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
8. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2024 |
and 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
The Ice Rink Company Limited (Registered number: 05846938) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2024 |
8. | FIXED ASSET INVESTMENTS - continued |
The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
Subsidiaries |
Silver Blades Ice Rink Company (Cannock) Limited - 05803859 |
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG |
Nature of business: Ice Rink |
% |
Class of shares: | holding |
Ordinary | 100.00 |
This company is not a subsidiary in the year. |
Silver Blades Ice Rink Company (Altrincham) Limited - 05949542 |
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG |
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 | 561 | 2,393 |
Profit for the year | 125,168 | 98,911 |
Silver Blades Ice Rink Company (Gillingham) Limited - 06709289 |
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG |
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 | 1,047,936 | 1,049,042 |
Profit for the year | 300,054 | 303,035 |
Silver Blades Ice Rink Company (Widnes) Limited - 08071581 |
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG |
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 | 331 | 1,005 |
Profit for the year | 223,326 | 193,470 |
The Ice Rink Company Limited (Registered number: 05846938) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2024 |
8. | FIXED ASSET INVESTMENTS - continued |
Silver Blades Ice Rink Company (Solihull) Limited - 09581917 |
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG |
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 | 76 | 780 |
Profit for the year | 318,296 | 361,954 |
Blackburn Arena Limited - 05241247 |
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG |
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 | (41,276 | ) | (106,636 | ) |
Profit for the year | 65,360 | 22,573 |
Silver Blades Ice Rink Company (Leeds) Limited - 09017963 |
Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG |
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 | - | 412 |
Profit for the year | - | 432,367 |
Details of the investments are as follows:All subsidiaries listed are exempt from the requirement of an audit of financial statements under section 479A of the Companies Act 2006 relating to subsidiary companies. All members of each of the companies noted above have agreed this by written resolution and The Ice rink Company Limited guarantees all outstanding liabilities to which each of its subsidiaries is subject to at the end of the financial year 30 June 2020 under section 479C of the Companies Act 2006. |
The Ice Rink Company Limited (Registered number: 05846938) |
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 | 1,046,001 | 1,150,964 |
Other debtors | 2,965,413 | 1,330,822 |
4,011,414 | 2,481,786 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
31.12.24 | 31.12.23 | 31.12.24 | 31.12.23 |
£ | £ | £ | £ |
Bank loans and overdrafts | 276,508 | 427,550 |
Hire purchase contracts | 72,255 | 72,255 |
Trade creditors | 261,944 | 680,553 |
Amounts owed to group undertakings | - | - |
Taxation and social security | 968,386 | 533,177 |
Other creditors | 4,273,187 | 4,546,726 |
5,852,280 | 6,260,261 |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group | Company |
31.12.24 | 31.12.23 | 31.12.24 | 31.12.23 |
£ | £ | £ | £ |
Bank loans | 1,457,900 | 1,734,408 |
Hire purchase contracts | 18,064 | 90,319 |
1,475,964 | 1,824,727 |
Amounts falling due in more than five years: |
Group | Company |
31.12.24 | 31.12.23 | 31.12.24 | 31.12.23 |
£ | £ | £ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 874,000 | 1,048,800 | 874,000 | 1,048,800 |
The Ice Rink Company Limited (Registered number: 05846938) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2024 |
12. | SECURED DEBTS |
The following secured debts are included within creditors: |
Group | Company |
31.12.24 | 31.12.23 | 31.12.24 | 31.12.23 |
£ | £ | £ | £ |
Bank overdraft | - | - |
Bank loans | 1,734,408 | 2,161,958 |
1,734,408 | 2,161,958 |
The bank loans and overdraft are secured by a mortgage debenture including fixed and floating charges over all assets and undertakings, both present and future dated 19 October 2012. |
13. | CONTINGENT LIABILITIES |
The group has a cross guarantee in favour of Handelsbanken in respect of the group bank borrowings. At the balance sheet date the group net indebtedness to Handelsbanken was £1,652,806. |
14. | RELATED PARTY DISCLOSURES |
M Petrouis is a director of PI Property Development Limited , Nice Leisure Limited and The Ice Rink Company Limited. |
The balance at the year end and included in other debtors owed from Nice Leisure Limited £725,557 (2022-£642,017 owed to ). The movement in the year relates to funds loaned. |