Company No: SC448593 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	24,581		17,324
Tangible assets	4	1,183,900		1,529,519
Investments	5	9		9
		1,208,490		1,546,852
Current assets
Stocks		1,980		32,250
Debtors	6	1,341,783		1,479,347
Cash at bank and in hand		839		2,480
		1,344,602		1,514,077
Creditors: amounts falling due within one year	7	( 3,516,501)		( 2,382,280)
Net current liabilities		(2,171,899)		(868,203)
Total assets less current liabilities		(963,409)		678,649
Creditors: amounts falling due after more than one year	8	( 260,560)		( 286,019)
Provision for liabilities	9	( 36,625)		( 19,328)
Net (liabilities)/assets		( 1,260,594)		373,302
Capital and reserves
Called-up share capital	10	1		1
Revaluation reserve		164,658		164,658
Capital redemption reserve		1		1
Profit and loss account		( 1,425,254 )		208,642
Total shareholder's (deficit)/funds		( 1,260,594)		373,302

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Pinz Bowling Ltd (registered number: SC448593) were approved and authorised for issue by the Board of Directors on 30 September 2025. They were signed on its behalf by:

Ross Anderson Director

Darren Margach Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pinz Bowling Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 2 Moycroft Industrial Estate, Elgin, IV30 1XZ, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities of £2,171,899 (2023 - £868,203). The Company is supported through loans from fellow subsidiaries and other related parties. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the fellow subsidiaries and other related parties will continue to support The Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences	10 years straight line
Other intangible assets	5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Assets under construction	not depreciated
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Office equipment	25 % reducing balance

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes sock stock based on normal levels of activity and is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, and loans from fellow group companies, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		10

3. Intangible assets

	Trademarks, patents and licences		Other intangible assets		Total
	£		£		£
Cost
At 01 January 2024	3,915		55,865		59,780
Additions	0		12,510		12,510
At 31 December 2024	3,915		68,375		72,290
Accumulated amortisation
At 01 January 2024	713		41,743		42,456
Charge for the financial year	392		4,861		5,253
At 31 December 2024	1,105		46,604		47,709
Net book value
At 31 December 2024	2,810		21,771		24,581
At 31 December 2023	3,202		14,122		17,324

4. Tangible assets

	Land and buildings		Assets under construc- tion		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£		£
Cost
At 01 January 2024	465,000		688,389		271,667		22,637		622,987		6,272		2,076,952
Additions	0		3,067		6,955		0		481,567		6,537		498,126
Revaluations	0		( 10,500)		0		0		0		0		( 10,500)
Disposals	0		0		0		( 12,948)		0		0		( 12,948)
At 31 December 2024	465,000		680,956		278,622		9,689		1,104,554		12,809		2,551,630
Accumulated depreciation
At 01 January 2024	0		0		217,699		12,396		315,426		1,912		547,433
Charge for the financial year	0		677,889		14,677		472		128,621		1,982		823,641
Disposals	0		0		0		( 3,344)		0		0		( 3,344)
At 31 December 2024	0		677,889		232,376		9,524		444,047		3,894		1,367,730
Net book value
At 31 December 2024	465,000		3,067		46,246		165		660,507		8,915		1,183,900
At 31 December 2023	465,000		688,389		53,968		10,241		307,561		4,360		1,529,519

5. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2024	9		9
At 31 December 2024	9		9
Carrying value at 31 December 2024	9		9
Carrying value at 31 December 2023	9		9

6. Debtors

	2024		2023
	£		£
Trade debtors	24		344
Amounts owed by Group undertakings	304,213		434,316
Amounts owed by related parties	905,085		891,930
Corporation tax	43,171		0
Other debtors	89,290		152,757
	1,341,783		1,479,347

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	25,429		23,260
Trade creditors	419,312		365,764
Amounts owed to Group undertakings	1,943,320		1,327,073
Amounts owed to related parties	506,387		410,774
Taxation and social security	30,064		24,680
Other creditors	591,989		230,729
	3,516,501		2,382,280

The bank loans are secured by fixed and floating charges over the assets of the Company.

8. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	260,560		286,019

The bank loans are secured by fixed and floating charges over the assets of the Company.

9. Provision for liabilities

	2024		2023
	£		£
Deferred tax	36,625		19,328

10. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

11. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	299,910		165,000
between one and five years	1,199,640		660,000
after five years	1,190,823		715,000
	2,690,373		1,540,000

12. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2024		2023
	£		£
Amounts owed to group undertakings	1,943,320		1,327,073
Amounts owed by group undertakings	404,290		445,338
Transactions with group companies	613,564		855,980

These balances are unsecured, interest free and have no fixed terms of repayment.

Transactions with the entity's directors

	2024		2023
	£		£
Amounts owed to Key Management Personnel	199,253		194,707

The above balances are unsecured, interest free and have no fixed terms of repayment

Other related party transactions

	2024		2023
	£		£
Amounts owed to other Related Parties	506,387		410,774
Amounts owed by other Related Parties	905,085		909,593

These balances are unsecured, interest free and have no fixed terms of repayment.

13. Events after the Balance Sheet date

On 17 March 2025, Pinz Bowling Limited purchased a further 2 of the 4 ordinary shares in issue of Angus Park Ltd. Effective from 17 March 2025, Pinz Bowling Limited will hold 100% of the share capital in Angus Park Ltd.