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REGISTERED NUMBER: 06214496 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

Leicester Basketball Limited

| Leicester Basketball Limited (Registered number: 06214496) |

Contents of the Financial Statements

for the Year Ended 31 May 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Leicester Basketball Limited |

Company Information

for the Year Ended 31 May 2025

| DIRECTORS: | K T Routledge

| R L Lockwood

| REGISTERED OFFICE: | Mattioli Arena

| 12 Memory Lane

| Leicester

| Leicestershire

| LE1 3UL

| REGISTERED NUMBER: | 06214496 (England and Wales)

| ACCOUNTANTS: | Duncan & Toplis Limited

| Park House

| 37 Clarence Street

| Leicester

| Leicestershire

| LE1 3RW

| Leicester Basketball Limited (Registered number: 06214496) |

Balance Sheet

31 May 2025

| 31.5.25 |  | 31.5.24

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 1,500,000 |  | 200,000 |  |

Tangible assets | 5 | 29,690 |  | 37,339 |  |

Investments | 6 | 1,500,000 |  | 775,000 |  |

3,029,690 |  | 1,012,339 |  |

CURRENT ASSETS

Stocks | - |  | 4,512 |  |

Debtors | 7 | 373,852 |  | 74,057 |  |

Cash at bank and in hand | 420 |  | 9,520 |  |

374,272 |  | 88,089 |  |

CREDITORS

Amounts falling due within one year | 8 | (1,598,900 | ) | (1,001,330 | ) |

NET CURRENT LIABILITIES | (1,224,628 | ) | (913,241 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,805,062 |  | 99,098 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (242,628 | ) | (330,419 | ) |

NET ASSETS/(LIABILITIES) | 1,562,434 |  | (231,321 | ) |

CAPITAL AND RESERVES

Called up share capital | 1,250 |  | 1,000 |  |

Share premium | 327,008 |  | 27,258 |  |

Retained earnings | 1,234,176 |  | (259,579 | ) |

SHAREHOLDERS' FUNDS | 1,562,434 |  | (231,321 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

| Leicester Basketball Limited (Registered number: 06214496) |

Balance Sheet - continued

31 May 2025

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2026 and were signed on its behalf by:

K T Routledge - Director

| Leicester Basketball Limited (Registered number: 06214496) |

Notes to the Financial Statements

for the Year Ended 31 May 2025

1. | STATUTORY INFORMATION

| Leicester Basketball 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 Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Going concern

| The financial statements have been prepared on a going concern basis. The company is reliant on funding provided by the directors who have confirmed that they will not withdraw their support in the foreseeable future. The directors therefore believe that the company will continue to have sufficient funds to pay all liabilities as they fall due.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are either measured at cost less any accumulated amortisation or at valuation.

| Tangible fixed assets

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

| Fixtures and fittings | - | 5% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Office equipment | - | 33 1/3% on cost

| Stocks

| Stocks are valued at the lower of cost and estimated selling price less costs to sell.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

| 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.

| Leicester Basketball Limited (Registered number: 06214496) |

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

2. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Investments

| Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

| Hire purchase and leasing commitments

| Assets obtained under the 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 27 (2024 - 33 ) .

4. | INTANGIBLE FIXED ASSETS

| Franchise

£ |

| COST OR VALUATION

| At 1 June 2024 | 200,000 |  |

| Additions | 1,500,000 |  |

| Disposals | (200,000 | ) |

| At 31 May 2025 | 1,500,000 |  |

| NET BOOK VALUE

| At 31 May 2025 | 1,500,000 |  |

| At 31 May 2024 | 200,000 |  |

| Leicester Basketball Limited owned the exclusive rights to operate a professional basketball franchise, and all associated intellectual property, in Leicestershire. The licence was awarded by The Basketball League Limited which had the exclusive right to operate a professional basketball league in England, Scotland and Wales from the British Basketball Federation.

| The Basketball League Limited licence ended in June 2024, as such this has resulted in the franchise being recognised by the directors at £Nil.

| Leicester Basketball Limited now owns the exclusive rights to operate a professional basketball franchise, and all associated intellectual property, in Leicestershire and an equal (to other SLB clubs) shareholding is SLB. The licence was awarded by Super League Basketball Limited which has the right to operate a professional basketball league in England, Scotland and Wales from FIBA (International Basketball federation). The directors value this franchise at £1,500,000 which they believe is a reasonable and conservative valuation.

| Cost or valuation at 31 May 2025 is represented by:

| Franchise

£ |

| Valuation in 2025 | 1,500,000 |  |

| Leicester Basketball Limited (Registered number: 06214496) |

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Motor |  | Office |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 June 2024 | 24,889 |  | 35,862 |  | 28,858 |  | 89,609 |  |

| Additions | - |  | - |  | 615 |  | 615 |  |

| Disposals | - |  | (6,695 | ) | - |  | (6,695 | ) |

| At 31 May 2025 | 24,889 |  | 29,167 |  | 29,473 |  | 83,529 |  |

| DEPRECIATION

| At 1 June 2024 | 9,493 |  | 14,875 |  | 27,902 |  | 52,270 |  |

| Charge for year | 769 |  | 4,671 |  | 522 |  | 5,962 |  |

| Eliminated on disposal | - |  | (4,393 | ) | - |  | (4,393 | ) |

| At 31 May 2025 | 10,262 |  | 15,153 |  | 28,424 |  | 53,839 |  |

| NET BOOK VALUE

| At 31 May 2025 | 14,627 |  | 14,014 |  | 1,049 |  | 29,690 |  |

| At 31 May 2024 | 15,396 |  | 20,987 |  | 956 |  | 37,339 |  |

6. | FIXED ASSET INVESTMENTS

| Interest

| in other

| participating

| interests

£ |

| COST OR VALUATION

| At 1 June 2024 | 775,000 |  |

| Additions | 1,500,000 |  |

| Disposals | (775,000 | ) |

| At 31 May 2025 | 1,500,000 |  |

| NET BOOK VALUE

| At 31 May 2025 | 1,500,000 |  |

| At 31 May 2024 | 775,000 |  |

| Cost or valuation at 31 May 2025 is represented by:

| Interest

| in other

| participating

| interests

£ |

| Valuation in 2025 | 1,500,000 |  |

| As at 31st May 2025, Leicester Basketball Limited owns 50 Ordinary Shares in the SLB which have been valued by the directors at £1,500,000 and is, therefore, included in the balance sheet at this valuation.

| As at 31st May 2025, the BBL is no longer trading. As such, the shareholding has been recognised by the directors at £Nil (2024: £775,000).

| Leicester Basketball Limited (Registered number: 06214496) |

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

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

| 31.5.25 |  | 31.5.24

£ | £ |

| Trade debtors | 7,852 |  | 5,957 |  |

| Other debtors | 366,000 |  | 68,100 |  |

373,852 |  | 74,057 |  |

| There are no prepayments and accrued income included in other debtors £NIL (2024: £2,100)

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

| 31.5.25 |  | 31.5.24

£ | £ |

| Bank loans and overdrafts | 17,381 |  | 10,254 |  |

| Hire purchase contracts | 5,992 |  | 5,605 |  |

| Trade creditors | 582,334 |  | 411,530 |  |

| Taxation and social security | 404,315 |  | 287,219 |  |

| Other creditors | 588,878 |  | 286,722 |  |

1,598,900 |  | 1,001,330 |  |

| Other creditors includes accruals and deferred income of £29,500 (2024: £42,000).

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

| 31.5.25 |  | 31.5.24

£ | £ |

| Bank loans | 6,929 |  | 15,597 |  |

| Hire purchase contracts | 9,203 |  | 15,195 |  |

| Other creditors | 226,496 |  | 299,627 |  |

242,628 |  | 330,419 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Other loans - Repayable in

| more than 5 years | 98,139 |  | 96,034 |  |

98,139 |  | 96,034 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.5.25 |  | 31.5.24

£ | £ |

| Hire purchase contracts | 15,195 |  | 20,800 |  |

| Hire purchase liabilities are secured on the individual assets being so acquired.