IRIS Accounts Production v25.4.0.155 SC653804 Board of Directors 31.1.25 1.2.24 31.1.25 31.1.25 the operation and management of the Theme park in Scotland offering entertainment, rides, food and beverage services. true true false true true false false false true false Ordinary 0 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC653804 2024-01-31 SC653804 2025-01-31 SC653804 2024-02-01 2025-01-31 SC653804 2023-01-31 SC653804 2023-02-01 2024-01-31 SC653804 2024-01-31 SC653804 ns15:Scotland 2024-02-01 2025-01-31 SC653804 ns14:PoundSterling 2024-02-01 2025-01-31 SC653804 ns10:Director1 2024-02-01 2025-01-31 SC653804 ns10:Consolidated 2025-01-31 SC653804 ns10:ConsolidatedGroupCompanyAccounts 2024-02-01 2025-01-31 SC653804 ns10:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 SC653804 ns10:Consolidated ns10:FRS102 2024-02-01 2025-01-31 SC653804 ns10:Consolidated ns10:Audited 2024-02-01 2025-01-31 SC653804 ns10:SmallCompaniesRegimeForDirectorsReport 2024-02-01 2025-01-31 SC653804 ns10:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 SC653804 ns10:Consolidated ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport 2024-02-01 2025-01-31 SC653804 ns10:LargeMedium-sizedCompaniesRegimeForAccounts ns10:Consolidated 2024-02-01 2025-01-31 SC653804 ns10:FullAccounts 2024-02-01 2025-01-31 SC653804 1 2024-02-01 2025-01-31 SC653804 ns10:OrdinaryShareClass1 2024-02-01 2025-01-31 SC653804 ns10:Consolidated 2024-02-01 2025-01-31 SC653804 ns10:Director2 2024-02-01 2025-01-31 SC653804 ns10:Director3 2024-02-01 2025-01-31 SC653804 ns10:RegisteredOffice 2024-02-01 2025-01-31 SC653804 ns10:Consolidated 2023-02-01 2024-01-31 SC653804 ns5:CurrentFinancialInstruments 2025-01-31 SC653804 ns5:CurrentFinancialInstruments 2024-01-31 SC653804 ns5:ShareCapital 2025-01-31 SC653804 ns5:ShareCapital 2024-01-31 SC653804 ns5:RetainedEarningsAccumulatedLosses 2025-01-31 SC653804 ns5:RetainedEarningsAccumulatedLosses 2024-01-31 SC653804 ns5:ShareCapital 2023-01-31 SC653804 ns5:RetainedEarningsAccumulatedLosses 2023-01-31 SC653804 ns5:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 SC653804 ns5:RetainedEarningsAccumulatedLosses 2024-02-01 2025-01-31 SC653804 ns5:NetGoodwill 2024-02-01 2025-01-31 SC653804 ns5:IntangibleAssetsOtherThanGoodwill 2024-02-01 2025-01-31 SC653804 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-02-01 2025-01-31 SC653804 ns5:LeaseholdImprovements 2024-02-01 2025-01-31 SC653804 ns5:PlantMachinery 2024-02-01 2025-01-31 SC653804 ns5:FurnitureFittings 2024-02-01 2025-01-31 SC653804 ns5:MotorVehicles 2024-02-01 2025-01-31 SC653804 ns5:CostValuation 2024-01-31 SC653804 ns10:OrdinaryShareClass1 2025-01-31 SC653804 ns5:RetainedEarningsAccumulatedLosses 2024-01-31

REGISTERED NUMBER: SC653804 (Scotland)

Group Strategic Report,

Report of the Directors and

Audited Consolidated Financial Statements

for the Year Ended 31 January 2025

for

Leisure Management (Scotland) Ltd

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Contents of the Consolidated Financial Statements

for the Year Ended 31 January 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 3 |

| Report of the Independent Auditors | 5 |

| Consolidated Profit and Loss Account | 9 |

| Consolidated Balance Sheet | 10 |

| Company Balance Sheet | 11 |

| Consolidated Statement of Changes in Equity | 12 |

| Company Statement of Changes in Equity | 13 |

| Consolidated Cash Flow Statement | 14 |

| Notes to the Consolidated Cash Flow Statement | 15 |

| Notes to the Consolidated Financial Statements | 17 |

| Leisure Management (Scotland) Ltd |

Company Information

for the Year Ended 31 January 2025

| DIRECTORS: | Mrs L J Connelly

| M T Taylor

| M R Taylor

| REGISTERED OFFICE: | c/o Gillespie & Anderson CA

| 147 Bath Street

| Glasgow

| G2 4SN

| BUSINESS ADDRESS: | Strathclyde Country Park

| Hamilton Road

| Motherwell

| Lanarkshire

| ML1 3RT

| REGISTERED NUMBER: | SC653804 (Scotland)

| AUDITORS: | Gillespie & Anderson

| Statutory Auditors

| Chartered Accountants

| 147 Bath Street

| Glasgow

| G2 4SN

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Group Strategic Report

for the Year Ended 31 January 2025

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

REVIEW OF BUSINESS AND KEY PERFORMANCE INDICATORS

| 2025 |  | 2024 |

Turnover |  | £8.54m |  | £8.24m |

Gross margin % |  | 37.88% |  | 39.30% |

EBITA |  | £328,641 |  | £122,333 |

The group continued to demonstrate stable performance during the year ended 31 January 2025, with a 4% increase in turnover and a significant rise in EBITA (ignoring depreciation and the gain on sale) to £328,641 from £122,333, reflecting improved operational efficiency and disciplined cost management.

The group's key performance indicators remain focused on turnover, gross margin, and strict overhead management, supported by effective cash control to ensure liquidity and meet obligations. The board continues to prioritize profitability over aggressive turnover growth, maintaining margin integrity and avoiding expansion that could compromise financial stability.

PRINCIPAL RISKS AND UNCERTAINTIES

The business operates within an amusement park environment and is therefore exposed to several operational and external risks that could affect performance. The board regularly reviews these risks and has controls in place to mitigate their potential impact.

Visitor Demand and Seasonality

Theme Park attendance is strongly affected by factors such as weather conditions, school holiday schedules, and overall economic trends. Extended periods of poor weather or weakened consumer spending can reduce visitor numbers and revenue. To address these challenges, the directors continuously monitor customer trends to adapt pricing, promotions, and experience design. They also update marketing strategies to boost attendance during slower periods and collaborate with external showmen to introduce fresh or unique attractions that enhance the park's appeal.

Cost Inflation

Rising costs for labour, utilities, and specialist maintenance services continue to put pressure on margins. Additionally, supply chain challenges may affect the availability of key ride components. To mitigate these challenges, the directors have worked closely with their appointed consultants to identify cost-saving opportunities and areas for margin improvement. Local management has also been actively involved in setting individual budgets and performance targets, with particular focus on optimizing staffing levels.

Financial Risk

High maintenance costs, rising insurance premiums, unplanned operational disruption and seasonal revenue fluctuations create cash flow vulnerabilities. To ensure of financial stability, directors are pursuing short-term financing solutions to address these cash flow challenges, whilst they anticipate that their success in securing the tender for the 2025 Glasgow Christmas Winter Wonderland event will augment future profits and cash flows.

FUTURE DEVELOPMENT

Directors anticipate a persistently competitive business environment. They view the company as financially strong, with identified risks effectively managed through short-term financing, future project investments like Halloween/Christmas events and the Dome, and ongoing Christmas markets in Paisley/Edinburgh plus the successful Glasgow tender. By prioritizing efficiencies, product development, market monitoring, and competitor analysis, directors remain confident in sustaining and enhancing this position.

ON BEHALF OF THE BOARD:

Mrs L J Connelly - Director

23 January 2026

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Report of the Directors

for the Year Ended 31 January 2025

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

DIVIDENDS

No interim dividend was paid during the year. The directors recommend a final dividend of £1,200 per share.

The total distribution of dividends for the year ended 31 January 2025 will be £ 120,000 .

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

Mrs L J Connelly

M T Taylor

M R Taylor

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.

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Report of the Directors

for the Year Ended 31 January 2025

AUDITORS

The auditors, Gillespie & Anderson, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs L J Connelly - Director

23 January 2026

Report of the Independent Auditors to the Members of

Leisure Management (Scotland) Ltd

Opinion

We have audited the financial statements of Leisure Management (Scotland) Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2025 which comprise the Consolidated Profit and Loss Account, 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 January 2025 and of the group's loss 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.

Material uncertainty related to going concern

We draw attention to note 2 in the financial statements, which indicates that the financial statements have been prepared on the going concern basis due to the ongoing support of the Group's creditors and the continuing availability of short term finance to meet the group's cash flow requirements. As stated in note 2, these conditions indicate that a material uncertainty exists which may cast doubt on the group's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the group financial statements is appropriate. Our assessment of the directors' assessment of the group's ability to continue to adopt the going concern basis of accounting included a review of management’s forecasts and cash flow projections, together with a consideration of the likelihood of success of planned funding arrangements (including previous applications and subsequent settlement thereof)..

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.

Report of the Independent Auditors to the Members of

Leisure Management (Scotland) Ltd

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.

Report of the Independent Auditors to the Members of

Leisure Management (Scotland) Ltd

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:

Our approach and assessment were as follows:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

Enquire of management and review supporting documentation concerning the company's policies and procedures relating to:

- identify, evaluate and comply with laws and regulations and their awareness of any instances of non-compliance;

- detect and respond to the risks of irregularities, fraud and their knowledge of any actual, suspected or alleged fraud;

- internal controls established to mitigate risks related to, unusual items, fraud or non-compliance with laws and regulations.

Obtain an understanding of the legal and regulatory framework that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the company. The key laws and regulations we considered in this context included the Companies Act 2006 and Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", together with health and safety regulations, money laundering regulations, employment legislation and data protection legislation.

Discuss among the engagement team how and where irregularities might occur in the financial statements and potential indicators of fraud. Identify potential audit risks in relation to income recognition, authorisation of expenses and possible management override of controls.

Communicate relevant identified laws and regulations and potential irregularity risks to all engagement team members and remain alert to any indications of unusual items, fraud or non-compliance with laws and regulations throughout the audit.

Review all Minutes of Meetings of those charged with governance, reports and correspondence with HMRC and legal advisers.

Perform audit testing which covers the audit assumptions of: existence, completeness, rights and obligations, accuracy and valuation in respect of income recognition and expenditure incurred.

Evaluate the overall presentation, structure and content of the financial statements, including disclosures, by performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to an irregularity or fraud. Agree financial statement disclosures to underlying documents.

Assess whether the financial statements represent the underlying transactions and events in a manner that achieves compliance with relevant laws and regulations.

To address the risk of fraud through management override of controls and management bias, we: assess the rationale behind significant or unusual transactions identified through audit testing and assess where management judgement used in determining accounting estimates were indicative of potential bias.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Directors and other management and the inspection of regulatory and legal correspondence.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

Report of the Independent Auditors to the Members of

Leisure Management (Scotland) Ltd

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.

Alun Johnstone B.Acc CA (Senior Statutory Auditor)

for and on behalf of Gillespie & Anderson

Statutory Auditors

Chartered Accountants

147 Bath Street

Glasgow

G2 4SN

23 January 2026

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Consolidated

Profit and Loss Account

for the Year Ended 31 January 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 8,538,204 |  | 8,244,908 |  |

Cost of sales | 5,304,224 |  | 5,004,502 |  |

GROSS PROFIT | 3,233,980 |  | 3,240,406 |  |

Administrative expenses | 3,564,764 |  | 3,263,832 |  |

(330,784 | ) | (23,426 | ) |

Other operating income | 269,086 |  | 280,335 |  |

OPERATING (LOSS)/PROFIT | 5 | (61,698 | ) | 256,909 |  |

Interest receivable and similar income | 46 |  | 67 |  |

(61,652 | ) | 256,976 |  |

Interest payable and similar expenses | 6 | 110,102 |  | 118,028 |  |

(LOSS)/PROFIT BEFORE TAXATION | (171,754 | ) | 138,948 |  |

Tax on (loss)/profit | 7 | (14,742 | ) | 25,004 |  |

(LOSS)/PROFIT FOR THE FINANCIAL YEAR | (157,012 | ) | 113,944 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | (157,012 | ) | 113,944 |  |

(Loss)/profit attributable to:

Owners of the parent | (157,012 | ) | 113,944 |  |

Total comprehensive income attributable to:

Owners of the parent | (157,012 | ) | 113,944 |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Consolidated Balance Sheet

31 January 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | 22,002 |  | 25,502 |  |

Tangible assets | 11 | 4,359,409 |  | 4,393,738 |  |

Investments | 12 | - |  | - |  |

4,381,411 |  | 4,419,240 |  |

CURRENT ASSETS

Stocks | 13 | 147,606 |  | 176,801 |  |

Debtors | 14 | 470,761 |  | 380,061 |  |

Cash at bank and in hand | 295,354 |  | 373,558 |  |

913,721 |  | 930,420 |  |

CREDITORS

Amounts falling due within one year | 15 | 1,847,257 |  | 1,724,594 |  |

NET CURRENT LIABILITIES | (933,536 | ) | (794,174 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,447,875 |  | 3,625,066 |  |

CREDITORS

Amounts falling due after more than one year | 16 | (1,147,599 | ) | (1,036,195 | ) |

PROVISIONS FOR LIABILITIES | 20 | (450,692 | ) | (462,275 | ) |

NET ASSETS | 1,849,584 |  | 2,126,596 |  |

CAPITAL AND RESERVES

Called up share capital | 21 | 100 |  | 100 |  |

Retained earnings | 22 | 1,849,484 |  | 2,126,496 |  |

SHAREHOLDERS' FUNDS | 1,849,584 |  | 2,126,596 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2026 and were signed on its behalf by:

Mrs L J Connelly - Director

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Company Balance Sheet

31 January 2025

| 2025 | 2024 |

| (Unaudited) |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | - |  | - |  |

Investments | 12 | 400 |  | 400 |  |

400 |  | 400 |  |

CURRENT ASSETS

Cash in hand | 100 |  | 100 |  |

CREDITORS

Amounts falling due within one year | 15 | 610 |  | 610 |  |

NET CURRENT LIABILITIES | (510 | ) | (510 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (110 | ) | (110 | ) |

CAPITAL AND RESERVES

Called up share capital | 21 | 100 |  | 100 |  |

Retained earnings | 22 | (210 | ) | (210 | ) |

SHAREHOLDERS' FUNDS | (110 | ) | (110 | ) |

Company's profit for the financial year | 120,000 |  | 120,000 |  |

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 Board of Directors and authorised for issue on 23 January 2026 and were signed on its behalf by:

Mrs L J Connelly - Director

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Consolidated Statement of Changes in Equity

for the Year Ended 31 January 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 February 2023 | 100 |  | 2,132,552 |  | 2,132,652 |  |

Changes in equity

Dividends | - |  | (120,000 | ) | (120,000 | ) |

Total comprehensive income | - |  | 113,944 |  | 113,944 |  |

Balance at 31 January 2024 | 100 |  | 2,126,496 |  | 2,126,596 |  |

Changes in equity

Dividends | - |  | (120,000 | ) | (120,000 | ) |

Total comprehensive income | - |  | (157,012 | ) | (157,012 | ) |

Balance at 31 January 2025 | 100 |  | 1,849,484 |  | 1,849,584 |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Company Statement of Changes in Equity

for the Year Ended 31 January 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 February 2023 | 100 |  | (210 | ) | (110 | ) |

Changes in equity

Dividends | - |  | (120,000 | ) | (120,000 | ) |

Total comprehensive income | - |  | 120,000 |  | 120,000 |  |

Balance at 31 January 2024 | 100 |  | (210 | ) | (110 | ) |

Changes in equity

Dividends | - |  | (120,000 | ) | (120,000 | ) |

Total comprehensive income | - |  | 120,000 |  | 120,000 |  |

Balance at 31 January 2025 | 100 |  | (210 | ) | (110 | ) |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Consolidated Cash Flow Statement

for the Year Ended 31 January 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 323,409 |  | (43,033 | ) |

Interest paid | (109,292 | ) | (118,028 | ) |

Interest element of hire purchase payments paid | (810 | ) | - |  |

Tax paid | (15,710 | ) | (14,655 | ) |

Net cash from operating activities | 197,597 |  | (175,716 | ) |

Cash flows from investing activities

Purchase of tangible fixed assets | (360,510 | ) | (1,531,492 | ) |

Sale of tangible fixed assets | 8,000 |  | 591,662 |  |

Interest received | 46 |  | 67 |  |

Net cash from investing activities | (352,464 | ) | (939,763 | ) |

Cash flows from financing activities

New loans in year | 94,000 |  | 1,645,910 |  |

Loan repayments in year | (77,969 | ) | (44,493 | ) |

Capital repayments in year | 29,503 |  | - |  |

Amount introduced by directors | 151,129 |  | 25,360 |  |

Amount withdrawn by directors | - |  | (33,510 | ) |

Equity dividends paid | (120,000 | ) | (120,000 | ) |

Net cash from financing activities | 76,663 |  | 1,473,267 |  |

(Decrease)/increase in cash and cash equivalents | (78,204 | ) | 357,788 |  |

Cash and cash equivalents at beginning of year | 2 | 373,558 |  | 15,770 |  |

Cash and cash equivalents at end of year | 2 | 295,354 |  | 373,558 |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Cash Flow Statement

for the Year Ended 31 January 2025

1. | RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| (Loss)/profit before taxation | (171,754 | ) | 138,948 |  |

| Depreciation charges | 393,428 |  | 337,420 |  |

| Profit on disposal of fixed assets | (3,091 | ) | (471,996 | ) |

| Government grants | (10,000 | ) | - |  |

| Finance costs | 110,102 |  | 118,028 |  |

| Finance income | (46 | ) | (67 | ) |

318,639 |  | 122,333 |  |

| Decrease/(increase) in stocks | 29,195 |  | (6,632 | ) |

| Increase in trade and other debtors | (87,317 | ) | (33,270 | ) |

| Increase/(decrease) in trade and other creditors | 62,892 |  | (125,464 | ) |

| Cash generated from operations | 323,409 |  | (43,033 | ) |

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 January 2025

| 31.1.25 |  | 1.2.24

£ | £ |

| Cash and cash equivalents | 295,354 |  | 373,558 |  |

| Year ended 31 January 2024

| 31.1.24 |  | 1.2.23

£ | £ |

| Cash and cash equivalents | 373,558 |  | 94,588 |  |

| Bank overdrafts | - |  | (78,818 | ) |

373,558 |  | 15,770 |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Cash Flow Statement

for the Year Ended 31 January 2025

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1.2.24 | Cash flow | At 31.1.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 373,558 |  | (78,204 | ) | 295,354 |  |

373,558 |  | (78,204 | ) | 295,354 |  |

| Debt

| Finance leases | - |  | (29,503 | ) | (29,503 | ) |

| Debts falling due within 1 year | (280,694 | ) | (67,389 | ) | (348,083 | ) |

| Debts falling due after 1 year | (693,881 | ) | 61,360 |  | (632,521 | ) |

(974,575 | ) | (35,532 | ) | (1,010,107 | ) |

| Total | (601,017 | ) | (113,736 | ) | (714,753 | ) |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements

for the Year Ended 31 January 2025

1. | STATUTORY INFORMATION

| Leisure Management (Scotland) Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the General Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Going concern

| The group financial statements have been prepared on a going concern basis, which is dependent, in part, on the financial stability of the trading company, Lochview Theme Park (Scotland) Ltd.

| Lochview Theme Park (Scotland) Ltd's ability to continue as a going concern is dependent on the ongoing support of the company's creditors and the continuing availability of short-term finance to assist with the company's cash flow obligations.

| Should this support be withdrawn, the group may be unable to realise its assets and discharge its liabilities in the normal course of business, whilst adjustments would have to be made to reduce the value of assets to their recoverable amount and to provide for any further liabilities which may arise.

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

| • | the requirement of paragraph 3.17(d);

| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

| • | the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

| • | the requirements of paragraphs 29.28(b) and 29.29;

| • | the requirement of paragraph 33.7.

| Basis of consolidation

| The consolidated financial statements present the results of the company and its wholly owned subsidiaries as if they form a single entity. Intercompany transactions and balances between the group companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase method. In the balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the consolidated statement of financial activities from the date on which control is obtained. They are deconsolidated from the date control ceases.

| Significant judgements and estimates

| The directors have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The directors' estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover represents net sales of goods and services, excluding value added tax, and recognised when the group becomes entitled to the income. Turnover comprises the Group's income from the operation of the theme park & hotel offering accommodation, entertainments & rides, along with food and beverage services.

| Other operating income

| Other operating income is comprised of rental income, sundry income and government grants receivable.

| Rental income

| Rental income represents rent received in respect of the property owned excluding value added tax. Rental income is recognised in the period to which the service is provided, when the amount of rental income can be reliably measured and it is probable that the group will receive the rental income.

| Sundry income

| Sundry income represents all other non-trading income, excluding value added tax. It is recognised in the period when the group has entitlement to the funds, when it is probable that the income will be received, and when the amount can be measured reliability.

| Grants receivable

| Income from grants, not subject to performance related conditions, is recognised when the group has entitlement to the funds, it is probable that the income will be received, the amount can be measured reliability and it is not deferred. Income from government grants is recognised when received.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

| Intangible assets

| Intangible assets are recognised when it is probable that the expected future economic benefits that are attributable to the asset will flow to the group, and when the cost (or value) of the asset can be measured reliably.

| Such assets are measured initially at cost, with subsequent measurements being based on that cost, as adjusted by periodic amortisation and any impairment losses.The directors consider the assets acquired to have an estimated useful life of ten years, and the intangible assets are therefore amortised evenly over that period.

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Ground & building | - | 1% on cost

| Improvements to property | - | 2% on cost

| Plant and machinery | - | 20% on cost and 6.67% on cost

| Fixtures and fittings | - | 15% on cost and 10% on cost

| Motor vehicles | - | 10% on reducing balance

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited to profit or loss.

| Assets in the course of construction are stated at cost less any provision for impairment, where applicable. Assets in the course of construction are transferred to completed assets when substantially all of the activities necessary to get the asset ready for use, are complete. Assets in the course of construction are not depreciated.

| Impairment of fixed assets

| At each reporting date, the group reviews the carrying amounts of its tangible and intangible fixed 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 amount of the impairment loss (if any). 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.

| Fixed asset investments

| Fixed asset investments are comprised of investments in subsidiaries which are recognised in the financial statements at cost less impairment.

| Stocks

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

| Financial instruments

| The group and the parent company has no complex financial instruments but does hold basic financial instruments of: cash at bank, debtors, and creditors.

| Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. A bank overdraft would be shown within current liabilities.

| Debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effect of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

| Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and Loss Account, 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 balance sheet date.

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| 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.

| Employment benefits

| The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the profit and loss account in the period to which they relate.

| Provisions for liabilities

| A provision is initially recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

3. | TURNOVER

| The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the group.

| An analysis of turnover by class of business is given below:

| 2025 |  | 2024

£ | £ |

| Theme park operations | 5,713,512 |  | 5,383,305 |  |

| Accommodation and restaurants | 2,824,692 |  | 2,861,603 |  |

8,538,204 |  | 8,244,908 |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 3,330,401 |  | 3,247,543 |  |

| Social security costs | 218,294 |  | 193,524 |  |

| Other pension costs | 42,987 |  | 37,897 |  |

3,591,682 |  | 3,478,964 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Management | 3 |  | 3 |  |

| Administration | 8 |  | 8 |  |

| Operations | 218 |  | 239 |  |

229 |  | 250 |  |

| The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2024 - NIL).

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 36,000 |  | 36,000 |  |

5. | OPERATING (LOSS)/PROFIT

| The operating loss (2024 - operating profit) is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 10,483 |  | 48,643 |  |

| Other operating leases | 264,470 |  | 285,900 |  |

| Depreciation - owned assets | 383,636 |  | 333,919 |  |

| Depreciation - assets on hire purchase contracts | 6,294 |  | - |  |

| Profit on disposal of fixed assets | (3,091 | ) | (471,996 | ) |

| Goodwill amortisation | 1,500 |  | 1,500 |  |

| Intellectual property amortisation | 2,000 |  | 2,000 |  |

| Auditors' remuneration | 16,000 |  | 14,850 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank loan interest | 84,030 |  | 90,325 |  |

| Director's loan interest | 11,038 |  | 9,208 |  |

| Other interest | 14,224 |  | 18,495 |  |

| Hire purchase | 810 |  | - |  |

110,102 |  | 118,028 |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

7. | TAXATION

| Analysis of the tax (credit)/charge

| The tax (credit)/charge on the loss for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | - |  | 36,337 |  |

| Under-provided in prior year | 3,466 |  | (14,153 | ) |

| Over-provided in prior year | (6,625 | ) | - |  |

| Total current tax | (3,159 | ) | 22,184 |  |

| Deferred tax | (11,583 | ) | 2,820 |  |

| Tax on (loss)/profit | (14,742 | ) | 25,004 |  |

| Reconciliation of total tax (credit)/charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| (Loss)/profit before tax | (171,754 | ) | 138,948 |  |

| (Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | (42,939 | ) | 34,737 |  |

| Effects of:

| Expenses not deductible for tax purposes | 2,901 |  | 4,868 |  |

| Income not taxable for tax purposes | (41,159 | ) | (157,176 | ) |

| Depreciation in excess of capital allowances | 31,191 |  | 107 |  |

| Utilisation of tax losses | 48,062 |  | 170,991 |  |

| Adjustments to tax charge in respect of previous periods | (3,159 | ) | (14,153 | ) |

| Capex in repairs | 2,300 |  | 546 |  |

| Revenue expense capitalised | (1,116 | ) | (15,215 | ) |

| Deferred tax movement | (11,583 | ) | 2,820 |  |

| Marginal relief | - |  | (700 | ) |

| Losses carried forward | 1,001 |  | 77 |  |

| Change in tax charge | - |  | (1,898 | ) |

| Utilisation of non trading charges | (241 | ) | - |  |

| Total tax (credit)/charge | (14,742 | ) | 25,004 |  |

8. | INDIVIDUAL PROFIT AND LOSS ACCOUNT

| 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.

9. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary shares of £1 each

| Final | 120,000 |  | 120,000 |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

10. | INTANGIBLE FIXED ASSETS

| Group

| Intellectual |  | Computer |

| Goodwill |  | property |  | software |  | Totals

£ | £ | £ | £ |

| COST

| At 1 February 2024

| and 31 January 2025 | 15,000 |  | 20,001 |  | 1 |  | 35,002 |  |

| AMORTISATION

| At 1 February 2024 | 1,500 |  | 8,000 |  | - |  | 9,500 |  |

| Amortisation for year | 1,500 |  | 2,000 |  | - |  | 3,500 |  |

| At 31 January 2025 | 3,000 |  | 10,000 |  | - |  | 13,000 |  |

| NET BOOK VALUE

| At 31 January 2025 | 12,000 |  | 10,001 |  | 1 |  | 22,002 |  |

| At 31 January 2024 | 13,500 |  | 12,001 |  | 1 |  | 25,502 |  |

11. | TANGIBLE FIXED ASSETS

| Group

| Improvements |

| Freehold |  | Ground & |  | to |  | Plant and

| property |  | building |  | property |  | machinery

£ | £ | £ | £ |

| COST

| At 1 February 2024 | 1,059,241 |  | 1,477,010 |  | 10,447 |  | 1,287,870 |  |

| Additions | 6,000 |  | - |  | 16,212 |  | 233,746 |  |

| Disposals | - |  | - |  | - |  | (6,596 | ) |

| At 31 January 2025 | 1,065,241 |  | 1,477,010 |  | 26,659 |  | 1,515,020 |  |

| DEPRECIATION

| At 1 February 2024 | - |  | 55,892 |  | - |  | 454,526 |  |

| Charge for year | - |  | 14,769 |  | - |  | 223,468 |  |

| Eliminated on disposal | - |  | - |  | - |  | (1,687 | ) |

| At 31 January 2025 | - |  | 70,661 |  | - |  | 676,307 |  |

| NET BOOK VALUE

| At 31 January 2025 | 1,065,241 |  | 1,406,349 |  | 26,659 |  | 838,713 |  |

| At 31 January 2024 | 1,059,241 |  | 1,421,118 |  | 10,447 |  | 833,344 |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

11. | TANGIBLE FIXED ASSETS - continued

| Group

| Fixtures |  | Assets |

| and |  | Motor |  | under |

| fittings |  | vehicles |  | construction |  | Totals

£ | £ | £ | £ |

| COST

| At 1 February 2024 | 1,267,324 |  | 83,336 |  | - |  | 5,185,228 |  |

| Additions | 25,772 |  | 7,800 |  | 70,980 |  | 360,510 |  |

| Disposals | - |  | - |  | - |  | (6,596 | ) |

| At 31 January 2025 | 1,293,096 |  | 91,136 |  | 70,980 |  | 5,539,142 |  |

| DEPRECIATION

| At 1 February 2024 | 263,602 |  | 17,470 |  | - |  | 791,490 |  |

| Charge for year | 144,326 |  | 7,367 |  | - |  | 389,930 |  |

| Eliminated on disposal | - |  | - |  | - |  | (1,687 | ) |

| At 31 January 2025 | 407,928 |  | 24,837 |  | - |  | 1,179,733 |  |

| NET BOOK VALUE

| At 31 January 2025 | 885,168 |  | 66,299 |  | 70,980 |  | 4,359,409 |  |

| At 31 January 2024 | 1,003,722 |  | 65,866 |  | - |  | 4,393,738 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and

| machinery

£ |

| COST

| Additions | 31,470 |  |

| At 31 January 2025 | 31,470 |  |

| DEPRECIATION

| Charge for year | 6,294 |  |

| At 31 January 2025 | 6,294 |  |

| NET BOOK VALUE

| At 31 January 2025 | 25,176 |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

12. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1 February 2024

| and 31 January 2025 | 400 |  |

| NET BOOK VALUE

| At 31 January 2025 | 400 |  |

| At 31 January 2024 | 400 |  |

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiaries

| Lochview Theme Park (Scotland) Ltd

| Registered office: c/o Gillespie & Anderson CA, 147 Bath Street, Glasgow, G2 4SN

| Nature of business: Theme Park

| %

| Class of shares: | holding |

| Ordinary £1 | 100.00 |

| 31.1.25 |  | 31.1.24

£ | £ |

| Aggregate capital and reserves | 1,421,717 |  | 1,711,485 |  |

| (Loss)/profit for the year | (169,768 | ) | 6,095 |  |

| Bizarre Bar Ltd

| Registered office: c/o Gillespie & Anderson CA, 147 Bath Street, Glasgow, G2 4SN

| Nature of business: Bar and restaurants

| %

| Class of shares: | holding |

| Ordinary £1 | 100.00 |

| 31.1.25 |  | 31.1.24

£ | £ |

| Aggregate capital and reserves | 457,627 |  | 439,747 |  |

| Profit for the year | 17,880 |  | 131,284 |  |

| Leisure Property Management (Scotland) Ltd

| Registered office: c/o Gillespie & Anderson CA, 147 Bath Street, Glasgow, G2 4SN

| Nature of business: Property Letting

| %

| Class of shares: | holding |

| Ordinary £1 | 100.00 |

| 31.1.25 |  | 31.1.24

£ | £ |

| Aggregate capital and reserves | (28,071 | ) | (23,029 | ) |

| Loss for the year/period | (5,042 | ) | (23,129 | ) |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

12. | FIXED ASSET INVESTMENTS - continued

| Alona Hotel Ltd

| Registered office: c/o Gillespie & Anderson CA, 147 Bath Street, Glasgow, G2 4SN

| Nature of business: Non- Trading

| %

| Class of shares: | holding |

| Ordinary £1 | 100.00 |

| 31.1.25 |  | 31.1.24

£ | £ |

| Aggregate capital and reserves | (1,179 | ) | (1,097 | ) |

| Loss for the year | (82 | ) | (306 | ) |

| This company is held by the parent company. The subsidiary has claimed the exemption from audit

| under s479 of the Companies Act 2006.

| All the above subsidiaries are included in the consolidation.

13. | STOCKS

| Group |

2025 | 2024 |

£ | £ |

| Stocks | 147,606 |  | 176,801 |  |

14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |

2025 | 2024 |

£ | £ |

| Trade debtors | 69,226 |  | 15,384 |  |

| Other debtors | 70,789 |  | 40,382 |  |

| Tax | 3,383 |  | - |  |

| Prepayments | 327,363 |  | 324,295 |  |

470,761 |  | 380,061 |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

| (Unaudited)

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 17) | 62,500 |  | 60,694 |  | - |  | - |  |

| Other loans (see note 17) | 285,583 |  | 220,000 |  | - |  | - |  |

| Hire purchase contracts (see note 18) | 7,868 |  | - |  | - |  | - |  |

| Trade creditors | 445,100 |  | 343,173 |  | - |  | - |  |

| Amounts owed to group undertakings | - |  | - |  | 610 |  | 610 |  |

| Tax | 15,043 |  | 30,529 |  | - |  | - |  |

| Social security and other taxes | 43,326 |  | 42,107 |  | - |  | - |  |

| VAT | 268,688 |  | 238,478 |  | - |  | - |  |

| Other creditors | 594,058 |  | 534,873 |  | - |  | - |  |

| Accrued expenses | 125,091 |  | 254,740 |  | - |  | - |  |

1,847,257 |  | 1,724,594 |  | 610 |  | 610 |  |

16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |

2025 | 2024 |

£ | £ |

| Bank loans (see note 17) | 632,521 |  | 693,881 |  |

| Hire purchase contracts (see note 18) | 21,635 |  | - |  |

| Directors' loan accounts | 493,443 |  | 342,314 |  |

1,147,599 |  | 1,036,195 |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

17. | LOANS

| An analysis of the maturity of loans is given below:

| Group |

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on | demand: |

| Bank loans | 62,500 |  | 60,694 |  |

| Other loans | 285,583 |  | 220,000 |  |

348,083 |  | 280,694 |  |

| Amounts falling due between one and two | years: |

| Bank loans - 1-2 years | 32,521 |  | 83,058 |  |

| Amounts falling due between two and five | years: |

| Bank loans - 2-5 years | 600,000 |  | 10,823 |  |

| Amounts falling due in more than five years: |

| Repayable otherwise than by instalments |

| Bank loans more 5 yrs non-inst | - |  | 600,000 |  |

18. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Gross obligations repayable:

| Within one year | 9,927 |  | - |  |

| Between one and five years | 27,299 |  | - |  |

37,226 |  | - |  |

| Finance charges repayable:

| Within one year | 2,059 |  | - |  |

| Between one and five years | 5,664 |  | - |  |

7,723 |  | - |  |

| Net obligations repayable:

| Within one year | 7,868 |  | - |  |

| Between one and five years | 21,635 |  | - |  |

29,503 |  | - |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

19. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |

2025 | 2024 |

£ | £ |

| Bank loans | 695,021 |  | 754,575 |  |

| Hire purchase contracts | 29,503 |  | - |  |

| Other loans | 65,583 |  | - |  |

790,107 |  | 754,575 |  |

| Bank loans includes a term loan of £600,000 which is secured by a standard security over the site at Whistleberry Road, Hamilton owned by Leisure Property Management Ltd, along with a floating charge over all other assets of that company and a personal guarantee from each of that company's directors.

| Further bank loans in other subsidiary companies are secured with corporate guarantees from the parent company and the subsidiaries in question.

| Other loans of £65,583 in subsidiary companies are secured by a parent company guarantee plus personal guarantees from from the directors in those subsidiaries.

| In addition, the parent company granted a floating charge to the Clydesdale Bank PLC in respect of all present and future obligations over the whole of the company's property and assets, dated 23rd April 2020.

| The group also has obligations under hire purchase contracts, which are secured over the assets to which they relate.

20. | PROVISIONS FOR LIABILITIES

| Group |

2025 | 2024 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 450,692 |  | 462,275 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 February 2024 | 462,275 |  |

| Credit to Profit and Loss Account during year | (11,583 | ) |

| Balance at 31 January 2025 | 450,692 |  |

21. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

22. | RESERVES

| Group

| Retained

| earnings

£ |

| At 1 February 2024 | 2,126,496 |  |

| Deficit for the year | (157,012 | ) |

| Dividends | (120,000 | ) |

| At 31 January 2025 | 1,849,484 |  |

| Company

| Retained

| earnings

£ |

| At 1 February 2024 | (210 | ) |

| Profit for the year | 120,000 |  |

| Dividends | (120,000 | ) |

| At 31 January 2025 | (210 | ) |

23. | PENSION COMMITMENTS

| Pension contributions owed to the defined contribution scheme included within other creditors in the financial statements are £10,049 (2024 £8,539). The total pension costs in each financial year are disclosed in note 4 to the financial statements.

24. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions not to disclose related party transactions with wholly owned subsidiaries within the group.

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| Included within other creditors at the financial year is an amount of £493,443 (2024 - £342,314) reflecting loans advanced to Lochview Theme Park (Scotland) Ltd) by the shareholders of the parent company (three of whom are the directors of Lochview Theme Park (Scotland) Ltd). This includes an advance of £170,000 by one of the shareholders in the year. The loan includes interest levied totalling £11,024 (2024 - £9,208) for the year, and the balance owed by the company is considered repayable after giving 12 months notice.

| As at 31 January 2025, an outstanding balance of £538,916 (2024 £500,246) was owed by the group to Continental Marketplace Ltd, which is considered a related party by virtue of the control exerted over the group by the same individuals. The loan is interest free and repayable on demand, with movements in the year relating to income received less expenses incurred by both of the companies on behalf of Continental Marketplace Ltd.

| In additions, there is an outstanding loan of £220,000 (2024 - £220,000) owed by the group to David Taylor (a family member of the directors) for financial support. The loan is interest free and repayable on demand.

| Leisure Management (Scotland) Ltd (Registered number: SC653804) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 January 2025

25. | POST BALANCE SHEET EVENTS

| The parent company has paid out dividends totalling £120,000 subsequent to the financial year end but prior to the formally approval of these financial statements.

26. | ULTIMATE CONTROLLING PARTY

| The directors of the parent company consider that there is no ultimate controlling party of the group - the issued share capital (which rank pari passu in all respects) is divided equally between the three directors and Matthew W Taylor, all of whom own 25% of the parent company shares.