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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: M Petrouis





SECRETARY: M Petrouis





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





REGISTERED NUMBER: 05846938 (England and Wales)





ACCOUNTANT: Groucott Moor Limited
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
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

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

2,377,175

925,107

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 5,781,715 5,879,254
Investments 8 2,355,232 2,355,232
8,136,947 8,234,486

CURRENT ASSETS
Stocks 2,807 2,807
Debtors 9 3,885,659 2,104,744
Cash at bank 186,654 -
4,075,120 2,107,551
CREDITORS
Amounts falling due within one year 10 5,847,128 5,901,439
NET CURRENT LIABILITIES (1,772,008 ) (3,793,888 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,364,939

4,440,598

CREDITORS
Amounts falling due after more than one
year

11

1,416,464

1,663,519
NET ASSETS 4,948,475 2,777,079

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 76 76
Capital redemption reserve 24 24
Retained earnings 4,948,375 2,776,979
SHAREHOLDERS' FUNDS 4,948,475 2,777,079

Company's profit for the financial year 2,317,316 905,287

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


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 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.

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.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten 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.
Land and buildings - Straight line over 50 years and Straight line over the life of the lease
Plant and machinery etc - 15% on reducing balance

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 6,034,010 2,173,376 8,207,386
Additions - 90,782 90,782
At 31 December 2024 6,034,010 2,264,158 8,298,168
DEPRECIATION
At 1 January 2024 549,584 1,778,548 2,328,132
Charge for year 129,097 59,224 188,321
At 31 December 2024 678,681 1,837,772 2,516,453
NET BOOK VALUE
At 31 December 2024 5,355,329 426,386 5,781,715
At 31 December 2023 5,484,426 394,828 5,879,254

8. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 2,355,232
NET BOOK VALUE
At 31 December 2024 2,355,232
At 31 December 2023 2,355,232

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 1,032,778 1,133,476
Other debtors 2,965,413 1,330,822 2,852,881 971,268
4,011,414 2,481,786 3,885,659 2,104,744

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 276,508 427,550 174,800 1,089,587
Hire purchase contracts 72,255 72,255 72,255 72,255
Trade creditors 261,944 680,553 25,402 314,625
Amounts owed to group undertakings - - 4,151,080 4,181,611
Taxation and social security 968,386 533,177 302,471 119,205
Other creditors 4,273,187 4,546,726 1,121,120 124,156
5,852,280 6,260,261 5,847,128 5,901,439

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 1,398,400 1,573,200
Hire purchase contracts 18,064 90,319 18,064 90,319
1,475,964 1,824,727 1,416,464 1,663,519

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 - - - 914,787
Bank loans 1,734,408 2,161,958 1,573,200 1,748,000
1,734,408 2,161,958 1,573,200 2,662,787

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.