ACCOUNTS - Final Accounts

Operating loss

The operating loss is stated after charging:

Registered number: 10701270

SWINGERS 1 LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 29 DECEMBER 2024

SWINGERS 1 LIMITED

COMPANY INFORMATION

Directors	A J Taylor (resigned 31 January 2025)
	M R Grech-Smith (resigned 1 September 2025)
	J D Simmonds
	J Goldstein
	J N D Stelzer (appointed 24 January 2025)


Registered number	10701270


Registered office	101 New Cavendish Street
	1st Floor South
	London
	W1W 6XH


Independent auditors	Harris & Trotter LLP
	Accountants & Business Advisers
	101 New Cavendish Street
	1st Floor South
	London
	United Kingdom
	W1W 6XH

SWINGERS 1 LIMITED

CONTENTS

	Page
Strategic Report	1 - 2
Independent Auditors' Report	3 - 6
Statement of Comprehensive Income	7
Balance Sheet	8 - 9
Statement of Changes in Equity	10
Notes to the Financial Statements	11 - 23

SWINGERS 1 LIMITED

STRATEGIC REPORT

FOR THE PERIOD ENDED 29 DECEMBER 2024

Introduction

The directors present their report and financial statements for the period ended 29 December 2024.

Business review

The principal activity remains that of experiential leisure in the hospitality market.
The Company traded in line with expectations in 2024 despite macroeconomic pressures.


		December 2024	December 2023
		£	£


Turnover	4,725,186	5,976,020
Gross profit / (loss)	2,433,905	2,525,009
Profit / (loss) before taxation	(590,125)	(656,723)
Profit / (loss) pre exceptional items	(549,392)	(821,150)
Shareholders' funds	593,243	1,195,914

Page 1

SWINGERS 1 LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE PERIOD ENDED 29 DECEMBER 2024

Principal risks and uncertainties

Financial instruments

The Company's principal financial instruments comprise bank balances, rent deposits, trade creditors and other creditors. The main purpose of these instruments is to raise funds for the Company's operations and to finance the Company's operations.
Due to the nature of the financial instruments used by the Company there is no exposure to price risk. The Company's approach to managing other risks applicable to the financial instruments concerned is shown below.
Liquidity risk
In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and the flexibility through the use of bank loans. The Company does not make use of money market facilities.
Trade creditor liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
Competition

The market in which the Company operates is becoming increasingly competitive through the introduction of new entrants as well as the expansion of established players. The directors believe that the Company maintains a strong position, in terms of the location of the site, the brand recognition and the quality of the experience provided.
These factors are expected to ensure continued growth and profitability.
Employee involvement

The Company is committed to providing equality of opportunity to all employees without discrimination and applied fair and equitable employment policies which ensure entry and progression within the Company. Appointments are determined solely by application of job criteria and competency.

Environmental policy
The Company will seek to minimise adverse impacts on the environment from its activities where possible, whilst continuing to address health, safety and economic issues. The Company has complied with all applicable legislation and regulations.

This report was approved by the board on 9 September 2025 and signed on its behalf.

J D Simmonds

Director

Page 2

SWINGERS 1 LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SWINGERS 1 LIMITED

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Opinion

We have audited the financial statements of Swingers 1 Limited (the 'Company') for the period ended 24 December 2023, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, 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 24 December 2023 and of its loss 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 United Kingdom, including the Financial Reporting Council'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 directors' 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 directors with respect to going concern are described in the relevant sections of this report.

Page 3

SWINGERS 1 LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SWINGERS 1 LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.

Opinion 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 Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic Report and the Directors' Report 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 Directors' Report.

We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are 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 directors determine is 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 directors are 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 directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Page 4

SWINGERS 1 LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SWINGERS 1 LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

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 an Auditors' Report 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. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
• We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the industry in which it operates. We determined that the following laws and regulations were most significant: FRS 102 and the Companies Act 2006.
• We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making enquiries of management.
• We challenged assumptions and judgments made by management in its significant accounting estimates.
We did not identify any key audit matters relating to irregularities, including fraud.

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 Auditors' Report.

Page 5

SWINGERS 1 LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SWINGERS 1 LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

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 an Auditors' Report 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.

Daniel Walters (Senior Statutory Auditor)

for and on behalf of

Harris & Trotter LLP

Accountants & Business Advisers

101 New Cavendish Street

1st Floor South

London

United Kingdom

W1W 6XH

9 September 2025

Page 6

SWINGERS 1 LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 29 DECEMBER 2024

	29 December	24 December
	2024	2023
Note	£	£


Turnover	4	4,725,186	5,976,020
Cost of sales		(2,291,281)	(3,451,011)
Gross profit		2,433,905	2,525,009
Administrative expenses		(2,973,605)	(3,140,376)
Exceptional administrative expenses		(40,733)	164,427
Operating loss	5	(580,433)	(450,940)
Interest receivable and similar income	9	996	2,456
Interest payable and similar expenses	10	(10,688)	(208,239)
Loss before tax		(590,125)	(656,723)
Tax on loss		(12,546)	(46,841)
Loss for the financial period		(602,671)	(703,564)

Other comprehensive income for the period
Total comprehensive income for the period		(602,671)	(703,564)

The notes on pages 11 to 23 form part of these financial statements.

Page 7

SWINGERS 1 LIMITED

REGISTERED NUMBER: 10701270

BALANCE SHEET

AS AT 29 DECEMBER 2024

	29 December	24 December
	2024	2023
Note	£	£

Fixed assets
Intangible assets	13		2,541		4,168
Tangible assets	14		200,550		184,748
			203,091		188,916
Current assets
Stocks	15	50,362		48,433
Debtors: amounts falling due within one year	16	3,567,370		3,494,752
Cash at bank and in hand	17	290,055		87,416
		3,907,787		3,630,601
Creditors: amounts falling due within one year	18	(3,517,635)		(2,623,603)
Net current assets			390,152		1,006,998
Total assets less current liabilities			593,243		1,195,914

Net assets			593,243		1,195,914

Capital and reserves
Called up share capital	19	1	1
Profit and loss account		593,242	1,195,913
		593,243	1,195,914

Page 8

SWINGERS 1 LIMITED

REGISTERED NUMBER: 10701270

BALANCE SHEET (CONTINUED)

AS AT 29 DECEMBER 2024

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

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

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 September 2025.

J D Simmonds

Director

The notes on pages 11 to 23 form part of these financial statements.

Page 9


		SWINGERS 1 LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 29 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 25 December 2022	1	1,899,477	1,899,478

Loss for the year	-	(703,564)	(703,564)

At 4 December 2023	1	1,195,913	1,195,914

Loss for the period	-	(602,671)	(602,671)
At 29 December 2024	1	593,242	593,243

The notes on pages 11 to 23 form part of these financial statements.

Page 10

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024

1.	General information

Swingers 1 Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England & Wales (registered number: 10701270).
The principal activity of the Company continued to be that of the provision of experiential leisure in the hospitality market.
The Company's registered office address is 101 New Cavendish Street, First Floor South, London, W1W 6XH. The principal place of business is 8 Brown's Buildings, London, EC3A 8AL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).

This information is included in the consolidated financial statements of Competitive Socialising Group Limited as at 29 December 2024 and these financial statements may be obtained from 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.

2.3

Going concern

In assessing the ability of the Company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the Company.
Having reviewed future forecasts, allowing for reasonable effects of current and future market conditions, the directors have a reasonable expectation that the company has adequate resources to continue operational existence for at least 12 months from the date of approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the annual financial statements.

Page 11

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 12

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024

2.Accounting policies (continued)

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.10

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.11

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 13

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024

2.Accounting policies (continued)

2.12

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.13

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Short-term leasehold property	-	Over the life of the lease
Fixtures and fittings	-	25% straight line method
Equipment	-	25% straight line method
Computer equipment	-	25% straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 14

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024

2.Accounting policies (continued)

2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, management is required to make judgments, estimates and assumptions about the carrying values of assets and the liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revisions affect only that period, or in the period of the revisions and future periods if the revision affects both current and future periods.

Turnover

					29 December	24 December
					2024	2023
					£	£

United Kingdom	4,725,186	5,976,020
	4,725,186	5,976,020

Page 15

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024

Other operating lease rentals

257,573

252,125

Fees payable to the Company's auditors for the audit of the Company's financial statements

18,632

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.

Wages and salaries	1,854,944	2,354,731
Social security costs	159,142	179,156
Cost of defined contribution scheme	11,942	14,178
	2,026,028	2,548,065

The average monthly number of employees, including the directors, during the period was as follows:

	29 December	24 December
	2024	2023
	No.	No.

Employees	75	90

Page 16

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024

Directors' emoluments	-	139,437
Company contributions to defined contribution pension schemes	-	822
	-	140,259

No Directors took a salary from Swingers 1 Limited during the year. Details of the highest paid director for the group can be found in the parent company consolidated accounts.

	Other interest receivable	996	2,456
		996	2,456

Bank interest payable	10,688	114,609
Other loan interest payable	-	93,630
	10,688	208,239

Page 17

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024



Total current tax	-	-

Deferred tax
Origination and reversal of timing differences	12,546	46,841
Total deferred tax	12,546	46,841


	Tax on loss	12,546	46,841

Page 18

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024

11.Taxation (continued)

Loss on ordinary activities before tax

(590,125)

(656,724)

Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)	(147,531)	(122,778)
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	51	-
Capital allowances for period/year in excess of depreciation	(12,036)	-
Utilisation of tax losses	-	122,778
Rollover relief on profit on disposal of fixed assets	-	-
Increase or decrease in pension fund prepayment leading to an increase (decrease) in tax	-	-
Short-term timing difference leading to an increase (decrease) in taxation	-	46,841
Changes in provisions leading to an increase (decrease) in the tax charge	12,547	-
Unrelieved tax losses carried forward	159,515	-
Total tax charge for the period/year	12,546	46,841

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 19

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024

	Restructuring (credits)/costs	40,733	(164,427)
		40,733	(164,427)

13.	Intangible assets

		Computer software
		£
	Cost
	At 25 December 2023	10,275
	At 29 December 2024	10,275
	Amortisation
	At 25 December 2023	6,107
	Charge for the period on owned assets	1,627
	At 29 December 2024	7,734
	Net book value
	At 29 December 2024	2,541
	At 24 December 2023	4,168

Page 20

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024

14.	Tangible fixed assets

	Short-term leasehold property	Fixtures and fittings	Equipment	Computer equipment	Total
	£	£	£	£	£
Cost or valuation
At 25 December 2023	3,047,062	833,757	54,017	175,214	4,110,050
Additions	-	120,532	11,880	7,225	139,637
Disposals	-	(35,499)	(9,814)	-	(45,313)
At 29 December 2024	3,047,062	918,790	56,083	182,439	4,204,374
Depreciation
At 25 December 2023	3,047,062	700,246	26,184	151,809	3,925,301
Charge for the period on owned assets	-	70,945	9,174	15,486	95,605
Disposals	-	(13,637)	(3,445)	-	(17,082)
At 29 December 2024	3,047,062	757,554	31,913	167,295	4,003,824
Net book value
At 29 December 2024	-	161,236	24,170	15,144	200,550
At 24 December 2023	-	133,511	27,832	23,405	184,748

Finished goods and goods for resale	50,362	48,433
	50,362	48,433

Page 21

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024

16.

Debtors

					29 December	24 December
					2024	2023
					£	£


Trade debtors	54,672	53,389
Amounts owed by group undertakings	2,885,855	2,775,051
Other debtors	48,131	44,209
Prepayments and accrued income	114,553	145,397
Deferred taxation	464,159	476,706
	3,567,370	3,494,752

Cash at bank and in hand	290,055	87,416
	290,055	87,416

Trade creditors	343,707	303,115
Amounts owed to group undertakings	2,798,717	1,926,209
Other taxation and social security	30,436	35,647
Other creditors	132,665	175,262
Accruals and deferred income	212,110	183,370
	3,517,635	2,623,603

Page 22

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2024

Allotted, called up and fully paid

1 (2023 - 1) Ordinary Shares share of £1.00	1	1

20.	Related party transactions
	FRS 102 does not require disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

21.	Controlling party

The smallest group to consolidate these financial statements is Competitive Socialising Group Limited, a private Company incorporated in England & Wales (registered number: 13420604). The registered office of Competitive Socialising Group Limited is 101 New Cavendish Street, First Floor South, London, W1W 6XH.

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