REGISTERED NUMBER: 13740364 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

HOLLAND LEISURE HOLDINGS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

18

DIRECTORS:

J M Holland

Mrs J E Holland

C J Holland

REGISTERED OFFICE:

22 Mermond Place

Swanage

Dorset

BH19 1DG

REGISTERED NUMBER:

13740364 (England and Wales)

AUDITORS:

Wallwork Nelson & Johnson

Chartered Accountants & Statutory Auditors

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

The directors present their strategic report of the company and the group for the year ended 31 March 2025.

REVIEW OF BUSINESS

The results for the year and financial position of the group are as shown in the annexed financial statements.

The group operates a number of amusement arcades throughout the UK.

Throughout the year the group has continued to invest in fixed assets to support future growth and profits. This continued investment has seen turnover increase from £10.8 million to £11.9 million and gross profit increase from £8.55 million to £9.59 million this year .

Despite increasing overheads the group achieved a profit after tax of £1.82 million compared with a profit of £1.72 million in the previous year. The balance sheet remains strong with net assets of £16.08 million.

The directors will continue to pursue the policies which have brought the group previous success and consider the group will maintain a strong trading position.

PRINCIPAL RISKS AND UNCERTAINTIES

The Directors consider the principal risks and uncertainties facing the group on a regular basis and take appropriate action.

Cash flow risk

The group considers cash in a professional manner both short and long term positions and requirement. The group has built up cash reserves during the year which the Directors believe to be sufficient to pay its debts when they fall due and to continue to operate within its current banking facilities.

Other risks

Other risks and uncertainties facing the group are those relating to the continuing credit squeeze on consumer spending, longer term effects of further rises in bank interest rates and the living wage and continued increase in regulation of sites offering public access.

FUTURE DEVELOPMENTS

The directors propose to continue to manage the assets of the group in such a way as to achieve a similar level of profitability reported in the year and to continue with the management policies which should improve the groups efficiency and performance.

ON BEHALF OF THE BOARD:

C J Holland - Director

23 December 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the operation of amusement arcades.

DIVIDENDS

The total distribution of dividends for the period ended 31 March 2025 will be £270,000.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

J M Holland

Mrs J E Holland

C J Holland

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Wallwork Nelson & Johnson, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C J Holland - Director

23 December 2025

Opinion

We have audited the financial statements of Holland Leisure Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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 group's and of the parent company affairs as at 31 March 2025 and of the group's profit for the year 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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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 group's and the parent 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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of law and regulations that could reasonably be expected to have a material effect on the financial statements from our general and sector experience and through discussions with the directors and other management (as required by Auditing Standards) and from inspection of the company's legal correspondence and we discussed with the directors and other management the policies and procedures regarding compliance with the laws and regulations. We communicated identified laws and regulations within our audit team and remained alert to any indications of non-compliance throughout the audit.

Firstly, the company and its subsidiaries are subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we have assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the company and its subsidiaries are subject to many other laws and regulations where the consequences of non compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines and litigation. We identified the following areas as those most likely to have such effect; gaming and gambling, health and safety, employment law, data protection, environmental law and certain aspects of company legislation. Auditing Standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry with directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures we have not become aware of any actual or suspected non-compliance material to the financial statements.

We assessed the susceptibility of the group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;

- making enquiries management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and none-compliance with laws and regulations.

To address the risk of fraud through management bias and overide of controls, we;

- performed analytical procedures to identify an unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated and evaluated the business rationale of significant transactions outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This increases the more the compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities accruing due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Report of the Auditors.

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 a Report of the Auditors 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.

Ian Johnson FCCA (Senior Statutory Auditor)

for and on behalf of Wallwork Nelson & Johnson

Chartered Accountants & Statutory Auditors

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

23 December 2025

TURNOVER

11,917,330

10,800,178

Cost of sales

2,323,796

2,246,222

GROSS PROFIT

9,593,534

8,553,956

Administrative expenses

6,684,290

5,829,666

2,909,244

2,724,290

Other operating income

92,342

40,833

OPERATING PROFIT

4

3,001,586

2,765,123

Interest receivable and similar income

19,328

19,543

3,020,914

2,784,666

Interest payable and similar expenses

5

637,775

513,812

PROFIT BEFORE TAXATION

2,383,139

2,270,854

Tax on profit

6

560,577

541,096

PROFIT FOR THE FINANCIAL YEAR

1,822,562

1,729,758

Profit attributable to:

Owners of the parent

1,822,562

1,729,758

PROFIT FOR THE YEAR

1,822,562

1,729,758

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,822,562

1,729,758

Total comprehensive income attributable to:

Owners of the parent

1,822,562

1,729,758

FIXED ASSETS

Intangible assets

9

(1,112,776

)

(1,247,304

)

Tangible assets

10

29,625,737

28,364,159

Investments

11

100

100

28,513,061

27,116,955

CURRENT ASSETS

Stocks

12

365,465

388,344

Debtors

13

1,688,530

1,883,868

Cash at bank and in hand

1,145,979

1,052,030

3,199,974

3,324,242

CREDITORS

Amounts falling due within one year

14

7,707,096

7,375,260

NET CURRENT LIABILITIES

(4,507,122

)

(4,051,018

)

TOTAL ASSETS LESS CURRENT LIABILITIES

24,005,939

23,065,937

CREDITORS

Amounts falling due after more than one year

15

(4,340,336

)

(5,038,511

)

PROVISIONS FOR LIABILITIES

19

(3,575,940

)

(3,490,325

)

NET ASSETS

16,089,663

14,537,101

CAPITAL AND RESERVES

Called up share capital

20

200

200

Merger relief reserve

21

8,749,990

8,749,990

Revaluation reserve

21

2,387,708

2,387,708

Retained earnings

21

4,951,765

3,399,203

SHAREHOLDERS' FUNDS

16,089,663

14,537,101

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

C J Holland - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

-

-

Investments

11

12,813,750

12,813,750

12,813,750

12,813,750

CURRENT ASSETS

Debtors

13

20,000

20,000

Cash in hand

190

190

20,190

20,190

CREDITORS

Amounts falling due within one year

14

3,247,423

3,455,320

NET CURRENT LIABILITIES

(3,227,233

)

(3,435,130

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,586,517

9,378,620

CAPITAL AND RESERVES

Called up share capital

20

200

200

Merger relief reserve

21

8,749,990

8,749,990

Retained earnings

21

836,327

628,430

SHAREHOLDERS' FUNDS

9,586,517

9,378,620

Company's profit for the financial year

477,897

435,497

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

C J Holland - Director

Called up

Merger

share

Retained

relief

Revaluation

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 April 2023

100

1,899,445

8,749,990

2,387,708

13,037,243

Changes in equity

Issue of share capital

100

-

-

-

100

Dividends

-

(230,000

)

-

-

(230,000

)

Total comprehensive income

-

1,729,758

-

-

1,729,758

Balance at 31 March 2024

200

3,399,203

8,749,990

2,387,708

14,537,101

Changes in equity

Dividends

-

(270,000

)

-

-

(270,000

)

Total comprehensive income

-

1,822,562

-

-

1,822,562

Balance at 31 March 2025

200

4,951,765

8,749,990

2,387,708

16,089,663

Called up

Merger

share

Retained

relief

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

100

422,933

8,749,990

9,173,023

Changes in equity

Issue of share capital

100

-

-

100

Dividends

-

(230,000

)

-

(230,000

)

Total comprehensive income

-

435,497

-

435,497

Balance at 31 March 2024

200

628,430

8,749,990

9,378,620

Changes in equity

Dividends

-

(270,000

)

-

(270,000

)

Total comprehensive income

-

477,897

-

477,897

Balance at 31 March 2025

200

836,327

8,749,990

9,586,517

Cash flows from operating activities

Cash generated from operations

1

4,114,319

4,262,974

Interest paid

(557,647

)

(426,714

)

Interest element of hire purchase and finance lease rental payments paid

(48,025

)

(51,164

)

Finance costs paid

(32,103

)

(35,934

)

Tax paid

(406,443

)

(362,160

)

Net cash from operating activities

3,070,101

3,387,002

Cash flows from investing activities

Purchase of intangible fixed assets

-

(50,004

)

Purchase of tangible fixed assets

(2,379,105

)

(6,311,243

)

Sale of tangible fixed assets

114,648

177,404

Interest received

19,328

19,543

Net cash from investing activities

(2,245,129

)

(6,164,300

)

Cash flows from financing activities

New loans in year

635,000

4,500,000

Loan repayments in year

(936,912

)

(1,222,193

)

New hire purchase finance in year

137,812

99,858

Capital repayments in year

(98,814

)

(157,055

)

Amount introduced by directors

586,957

264,504

Amount withdrawn by directors

(545,066

)

(664,536

)

Share issue

-

100

Redemption of preference shares

(240,000

)

(240,000

)

Equity dividends paid

(270,000

)

(230,000

)

Net cash from financing activities

(731,023

)

2,350,678

Increase/(decrease) in cash and cash equivalents

93,949

(426,620

)

Cash and cash equivalents at beginning of year

2

1,052,030

1,478,650

Cash and cash equivalents at end of year

2

1,145,979

1,052,030

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31/3/25

31/3/24

£

£

Profit before taxation

2,383,139

2,270,854

Depreciation charges

882,213

756,872

(Profit)/loss on disposal of fixed assets

(13,863

)

22,503

Finance costs

637,775

513,812

Finance income

(19,328

)

(19,543

)

3,869,936

3,544,498

Decrease/(increase) in stocks

22,879

(83,383

)

Decrease/(increase) in trade and other debtors

153,447

(20,382

)

Increase in trade and other creditors

68,057

822,241

Cash generated from operations

4,114,319

4,262,974

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

1,145,979

1,052,030

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

1,052,030

1,478,650

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank and in hand

1,052,030

93,949

1,145,979

1,052,030

93,949

1,145,979

Debt

Hire purchase and finance leases

(190,582

)

(38,995

)

(229,577

)

Debts falling due within 1 year

(4,256,912

)

(227,770

)

(4,484,682

)

Debts falling due after 1 year

(4,946,746

)

769,680

(4,177,066

)

(9,394,240

)

502,915

(8,891,325

)

Total

(8,342,210

)

596,864

(7,745,346

)

1.	STATUTORY INFORMATION

Holland Leisure Holdings 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company is a qualifying entity for the purposes of FRS 102, being the parent member of a group which prepares these consolidated financial statements, which are intended to give a true and fair view of the assets, liabilities, financial position and profit and loss of the group. The company has therefore taken the advantage of exemptions from the following disclosure requirements for parent company information presented within these consolidated financial statements:

> Section 7 'Statement of Cash Flows' - Presentation of a statement of cash flow and related notes and disclosures;

> Section 33 'Related Party Disclosures' - Compensation for key management personnel.

Basis of consolidation

The consolidated financial statements incorporate those of the Holland Leisure Holdings Limited and its material subsidiaries.

All financial statements are made up to 31 March 2025. Where necessary, adjustments are made to the financial of subsidiaries to bring the accounting policies used in line with those used by other members of the group.

All intra-group transactions and balances between group companies are eliminated on consolidation.

Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the date of acquisition date of assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover represents income received from the operation of amusement arcades, excluding value added tax and machine gaming duty, where applicable.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of amusement arcades in 2015 and 2018, is being amortised evenly over its estimated useful life of 20 years and 10 years, respectively.

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

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

Plant and machinery

- 20% on reducing balance

Fixtures and fittings

- 15% on reducing balance

Motor vehicles

- 25% on reducing balance

Computer equipment

- 20% on reducing balance

Freehold and long leasehold property are not depreciated. Freehold and long leasehold property are maintained to ensure that their value does not diminish over time. The maintenance costs are charged to the profit and loss account as they are incurred. In the opinion of the directors, depreciation would be immaterial and, therefore, freehold and long leasehold property are not depreciated. Any increase or decrease to the market value is taken to the revaluation reserve.

Investments in subsidiaries

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.