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REGISTERED NUMBER: 03808062 (England and Wales)

STRATEGIC REPORT, DIRECTORS' REPORT AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

FOR

INDIGO LEISURE LIMITED

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Page |

| Strategic Report | 1 |

| Directors' Report | 2 |

| Report of the Independent Auditors | 3 |

| Statement of Comprehensive Income | 5 |

| Balance Sheet | 6 |

| Statement of Changes in Equity | 7 |

| Notes to the Financial Statements | 8 |

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

STRATEGIC REPORT

FOR THE YEAR ENDED 31 JULY 2025

The directors present their strategic report for the year ended 31 July 2025.

REVIEW OF BUSINESS

Pre-tax profit for the year is £4,406,368 compared to £4,095,739 for the previous year.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties faced by the company are the potential for loss of trade as a result of local competition, the risks presented by wider macro-economic factors, reduced consumer confidence and changes in customer preferences, which effect customer spend.

Interest rate risk:

The directors are aware of the inherent risks arising from movements in interest rate. The company's modest borrowing requirements limit its exposure to interest rate risk.

Credit risks:

The company has no significant exposure to credit risk.

Liquidity risk:

The company has a policy of maintaining sufficient liquid resources to fund its day to day operations and therefore has little exposure to liquidity risk.

Price risk:

The company endeavours to mitigate price risk by passing on price increases wherever possible.

KEY PERFORMANCE INDICATORS

The key performance indicators used by the directors are turnover, gross profit margin and earnings before interest, tax, depreciation and amortisation (EBITDA).

| 2025 |  | 2024 |

| £ |  | £ |

Turnover |  | 19,280,718 |  | 19,622,563 |

Gross profit margin |  | 68% |  | 68% |

EBITDA |  | 5,055,592 |  | 4,782,961 |

POST BALANCE SHEET OUTLOOK

Since the year end, trading conditions across the hospitality sector have softened, with sales and EBITDA in the first half of the current financial year trending below the levels achieved in the year ended 31 July 2025. The directors continue to monitor performance carefully in light of ongoing macro-economic pressures affecting consumer confidence and discretionary spend, together with increased employment costs. The rise in National Living Wage and employer National Insurance contributions effective April 2025 was only partially reflected in the year ended 31 July 2025. A further increase in employment costs effective April 2026 will also impact the current financial year, with only a part-year effect reflected in the year ending 31 July 2026.

The hospitality sector remains sensitive to fluctuations in consumer demand, wage inflation and taxation, and profitability is therefore subject to ongoing variability. The directors continue to prioritise prudent cash management and disciplined cost control in response to these conditions.

Whilst the company maintains a strong asset base and appropriate financial headroom, there remains uncertainty over the extent to which these factors may impact full year performance. As such, profitability for the year ending 31 July 2026 may be lower than that reported for the year ended 31 July 2025.

ON BEHALF OF THE BOARD:

J M Wilson - Director

2 March 2026

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 JULY 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of operation of public houses.

DIVIDENDS

Dividends of £3,497,050 (2024: £3,132,024) were declared and paid during the year.

DIRECTORS

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

J M Wilson

C J Bloomfield

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen, in accordance with the Companies Act 2006 s414C(11), to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Directors' Report 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

J M Wilson - Director

2 March 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

INDIGO LEISURE LIMITED

Opinion

We have audited the financial statements of Indigo Leisure Limited (the 'company') for the year ended 31 July 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 31 July 2025 and of its 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 company 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 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 Strategic Report and the Directors' Report, 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 Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

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

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

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

INDIGO LEISURE LIMITED

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:

Based on our understanding of the company and industry, we considered the risk of non-compliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Audit procedures performed included:

- |  | Enquiring of management whether there were instances of non-compliance with laws and regulation or fraud; |

- |  | Review of legal expenses for evidence of fees relating to non-compliance; |

- |  | Reviewing non-routine journal entries, non-sales bank receipts and non-purchase bank payments for unusual accounting entries; and |

- |  | Substantive revenue testing to confirm completeness of revenue. |

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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.

Christian Heeger BSc BFP FCA (Senior Statutory Auditor)

for and on behalf of Galloways Accounting (Audit) Limited

Statutory Auditors

15 West Street

Brighton

East Sussex

BN1 2RL

3 March 2026

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

STATEMENT OF COMPREHENSIVE

INCOME

FOR THE YEAR ENDED 31 JULY 2025

| 2025 |  | 2024

| as restated |

| Notes | £ | £ |

TURNOVER | 3 | 19,280,718 |  | 19,622,563 |  |

Cost of sales | (6,162,723 | ) | (6,367,394 | ) |

GROSS PROFIT | 13,117,995 |  | 13,255,169 |  |

Administrative expenses | (8,971,082 | ) | (9,395,754 | ) |

4,146,913 |  | 3,859,415 |  |

Other operating income | 274,108 |  | 252,775 |  |

OPERATING PROFIT | 5 | 4,421,021 |  | 4,112,190 |  |

Interest payable and similar expenses | 6 | (14,653 | ) | (16,451 | ) |

PROFIT BEFORE TAXATION | 4,406,368 |  | 4,095,739 |  |

Tax on profit | 7 | (1,129,588 | ) | (1,277,007 | ) |

PROFIT FOR THE FINANCIAL YEAR | 3,276,780 |  | 2,818,732 |  |

OTHER COMPREHENSIVE INCOME |

Property revaluation | (321,062 | ) | - |  |

Income tax relating to other comprehensive income | 105,000 |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | (216,062 | ) | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 3,060,718 |  | 2,818,732 |  |

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

BALANCE SHEET

31 JULY 2025

| 2025 | 2024 |

| as restated |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | 6,265,497 |  | 7,005,023 |  |

6,265,497 |  | 7,005,023 |  |

CURRENT ASSETS

Stocks | 12 | 273,723 |  | 267,337 |  |

Debtors | 13 | 7,109,216 |  | 6,783,303 |  |

Cash at bank and in hand | 822,740 |  | 1,389,350 |  |

8,205,679 |  | 8,439,990 |  |

CREDITORS

Amounts falling due within one year | 14 | 1,607,468 |  | 1,987,972 |  |

NET CURRENT ASSETS | 6,598,211 |  | 6,452,018 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 12,863,708 |  | 13,457,041 |  |

PROVISIONS FOR LIABILITIES | 16 | 655,858 |  | 812,859 |  |

NET ASSETS | 12,207,850 |  | 12,644,182 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 10,000 |  | 10,000 |  |

Revaluation reserve | 1,216,978 |  | 1,494,106 |  |

Retained earnings | 10,980,872 |  | 11,140,076 |  |

SHAREHOLDERS' FUNDS | 12,207,850 |  | 12,644,182 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 2 March 2026 and were signed on its behalf by:

J M Wilson - Director

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JULY 2025

| Called up |

| share |  | Retained |  | Revaluation |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 August 2023 | 10,000 |  | 11,453,368 |  | 1,494,106 |  | 12,957,474 |  |

Changes in equity

Profit for the year | - |  | 2,818,732 |  | - |  | 2,818,732 |  |

Total comprehensive income | - |  | 2,818,732 |  | - |  | 2,818,732 |  |

Dividends | - |  | (3,132,024 | ) | - |  | (3,132,024 | ) |

Balance at 31 July 2024 | 10,000 |  | 11,140,076 |  | 1,494,106 |  | 12,644,182 |  |

Changes in equity

Profit for the year | - |  | 3,276,780 |  | - |  | 3,276,780 |  |

Other comprehensive income | - |  | 61,066 |  | (277,128 | ) | (216,062 | ) |

Total comprehensive income | - |  | 3,337,846 |  | (277,128 | ) | 3,060,718 |  |

Dividends | - |  | (3,497,050 | ) | - |  | (3,497,050 | ) |

Balance at 31 July 2025 | 10,000 |  | 10,980,872 |  | 1,216,978 |  | 12,207,850 |  |

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1. | STATUTORY INFORMATION

| Indigo Leisure Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

| Registered number: | 03808062

| Registered office: | 63 Western Road

| Hove

| BN3 1JD

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

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

| Financial Reporting Standard 102 - reduced disclosure exemptions

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

| • | the requirements of Section 7 Statement of Cash Flows;

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

| • | the requirement of paragraph 33.7.

| Critical accounting judgements and key sources of estimation uncertainty

| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The value of the freehold property is a source of significant estimation uncertainty and determining this involves the use of significant assumptions in arriving at the fair value. The estimation of the fair value is based on open market value as a fully operational business unit and assumes all plant and equipment are free from lien and encumbrance, the market's perception of trading potential, licences and permits are received as required, and existing staff and bookings are transferred.

| Turnover

| Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for the sale of goods and provision of services, net of value added taxes.

| Sales of goods are recognised on sale to the customer, which is considered the point of provision of food and drink to the consumer. Sales are usually by cash, credit or payment card.

| Marketing support is receivable from wet suppliers to support specific brands or events. It is recognised during the period to which it relates.

| Goodwill

| Goodwill recognised represents the excess of the fair value and directly attributable costs of the purchase consideration over the fair values to the company’s interest in the identifiable net assets, liabilities and contingent liabilities acquired.

| Goodwill has been fully amortised.

| Tangible fixed assets

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

| Freehold property | - | 2% on cost

| Improvements to property | - | Over the term of the lease

| Fixtures and fittings | - | 15% on reducing balance

| Motor vehicles | - | 15% on reducing balance

| Tangible assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to sell. Stocks are recognised as an expense in the period in which the related revenue is recognised.

| Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the stock to its present location and condition.

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Basic financial assets, including trade and other receivables, loans to fellow group companies, and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

| Basic financial liabilities, including trade and other payables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

| Leased assets

| Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

| 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.

3. | TURNOVER

| Turnover is categorised as following:

|  | 2025 |  | 2024 |  |

| £ |  | £ |  |

| Sale of goods |  | 19,201,628 |  | 19,563,721 |  |

| Rendering of services |  | 79,090 |  | 58,841 |  |

|  | 19,280,718 |  | 19,622,563 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

| as restated |

£ | £ |

| Wages and salaries | 127,192 |  | 102,729 |  |

| Social security costs | 7,492 |  | 1,531 |  |

| Other pension costs | 1,488 |  | 910 |  |

136,172 |  | 105,170 |  |

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

4. | EMPLOYEES AND DIRECTORS - continued

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

| 2025 |  | 2024

| as restated |

| Directors | 2 |  | 2 |  |

| Administration staff | 3 |  | 3 |  |

5 |  | 5 |  |

| 2025 |  | 2024

| as restated |

£ | £ |

| Directors' remuneration | 30,134 |  | 18,200 |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

| as restated |

£ | £ |

| Hire of plant and machinery | 48,899 |  | 92,884 |  |

| Other operating leases | 1,422,535 |  | 1,419,597 |  |

| Depreciation - owned assets | 602,117 |  | 670,770 |  |

| Loss on disposal of fixed assets | 32,455 |  | - |  |

| Auditors' remuneration | 18,000 |  | 8,500 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

| as restated |

£ | £ |

| Bank loan interest | - |  | 11,551 |  |

| Interest on overdue tax | 14,653 |  | 4,238 |  |

| Hire purchase interest | - |  | 662 |  |

14,653 |  | 16,451 |  |

7. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

| as restated |

£ | £ |

| Current tax:

| UK corporation tax | 1,181,589 |  | 1,117,915 |  |

| Deferred tax | (52,001 | ) | 159,092 |  |

| Tax on profit | 1,129,588 |  | 1,277,007 |  |

| UK corporation tax has been charged at 25% (2024 - 25%).

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

7. | TAXATION - continued

| Reconciliation of total tax 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

| as restated |

£ | £ |

| Profit before tax | 4,406,368 |  | 4,095,739 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 1,101,592 |  | 1,023,935 |  |

| Effects of:

| Expenses not deductible for tax purposes | 8,289 |  | 790 |  |

| Adjustments to deferred tax charge in respect of previous periods | 19,707 |  | 252,282 |  |

| Total tax charge | 1,129,588 |  | 1,277,007 |  |

| Tax effects relating to effects of other comprehensive income |

| 2025 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Property revaluation | (321,062 | ) | 105,000 |  | (216,062 | ) |

8. | DIVIDENDS

| 2025 |  | 2024

| as restated |

£ | £ |

| Ordinary A shares of £1 each

| Interim | 3,497,050 |  | 3,132,024 |  |

9. | PRIOR YEAR ADJUSTMENT

| Prior year adjustments

| The financial statements have been restated to correct the fair value of the freehold property and incorporate the deferred tax on the corrected fair values. The change has resulted in the retained earnings increasing after tax by £22,206 and the revaluation reserve increasing by £1,180,187.

| Summary of the prior year adjustment impact:

|  | Revaluation reserve |  | Retained earnings |  |

|  | £ |  | £ |  |

| Increase in freehold property carrying value |  | 1,512,030 |  | - |  |

| Increase in deferred tax liability |  | (282,871) |  | - |  |

| Additional depreciation on revaluation |  | - |  | (26,766 | ) |

| Transfer of unrealised depreciation |  | (48,972) |  | 48,972 |  |

| Increase in revaluation reserve/retained earnings |  | 1,180,187 |  | 22,206 |  |

| Reclassification

| Supplier rebates amounting to £447,674 have been reclassified from revenue to cost of sales in the comparative year's figures. The reclassification was carried out because the rebates are discounts on purchases rather than sales income.

| Subcontractor costs amounting to £4,180,154 have been reclassified from wages and salaries in the comparative year's figures. The reclassification was carried out because the costs are not employee costs.

| Disclosures

| The comparative year's disclosure of non-cancellable operating leases totalling £8,948,798 has been corrected to £10,428,391.

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

10. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 August 2024

| and 31 July 2025 | 301,399 |  |

| AMORTISATION

| At 1 August 2024

| and 31 July 2025 | 301,399 |  |

| NET BOOK VALUE

| At 31 July 2025 | - |  |

| At 31 July 2024 | - |  |

11. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures |

| Freehold |  | to |  | and |  | Motor |

| property |  | property |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST OR VALUATION

| At 1 August 2024 | 2,830,000 |  | 3,530,706 |  | 5,815,602 |  | 208,491 |  | 12,384,799 |  |

| Additions | - |  | - |  | 86,875 |  | 209,232 |  | 296,107 |  |

| Disposals | - |  | - |  | - |  | (208,491 | ) | (208,491 | ) |

| Revaluations | (420,000 | ) | - |  | - |  | - |  | (420,000 | ) |

| At 31 July 2025 | 2,410,000 |  | 3,530,706 |  | 5,902,477 |  | 209,232 |  | 12,052,415 |  |

| DEPRECIATION

| At 1 August 2024 | 49,469 |  | 1,801,773 |  | 3,436,880 |  | 91,654 |  | 5,379,776 |  |

| Charge for year | 49,470 |  | 155,224 |  | 369,503 |  | 27,920 |  | 602,117 |  |

| Eliminated on disposal | - |  | - |  | - |  | (96,036 | ) | (96,036 | ) |

| Revaluation adjustments | (98,939 | ) | - |  | - |  | - |  | (98,939 | ) |

| At 31 July 2025 | - |  | 1,956,997 |  | 3,806,383 |  | 23,538 |  | 5,786,918 |  |

| NET BOOK VALUE

| At 31 July 2025 | 2,410,000 |  | 1,573,709 |  | 2,096,094 |  | 185,694 |  | 6,265,497 |  |

| At 31 July 2024 | 2,780,531 |  | 1,728,933 |  | 2,378,722 |  | 116,837 |  | 7,005,023 |  |

| Freehold property was subject to independent professional valuation at 30 January 2024. The valuation was undertaken by C Lambert MRICS and K Marsh MRICS of Savills (UK) Limited. The valuation is on a market value trading basis, whereby the estimated value is the amount for which the property should exchange on the valuation date between a willing buyer and a willing seller in an arm's length transaction, after proper marketing, where the parties had each acted knowledgeably, prudently and without compulsion, and assuming the property continues in its existing use.

| The historic cost equivalent freehold property included at valuation is as follows:

|  | 2025 |  | 2024 |  |

| £ |  | £ |  |

| Cost |  | 1,303,357 |  | 1,303,357 |  |

| Accumulated depreciation |  | (288,208 | ) | (269,271 | ) |

| Net book value |  | 1,015,149 |  | 1,034,086 |  |

12. | STOCKS

2025 | 2024 |

| as restated |

£ | £ |

| Finished goods | 273,723 |  | 267,337 |  |

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

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

2025 | 2024 |

| as restated |

£ | £ |

| Trade debtors | 21,273 |  | 25,664 |  |

| Amounts owed by group undertakings | 6,698,223 |  | 6,452,505 |  |

| Other debtors | 114,424 |  | 117,178 |  |

| Prepayments and accrued income | 275,296 |  | 187,956 |  |

7,109,216 |  | 6,783,303 |  |

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

2025 | 2024 |

| as restated |

£ | £ |

| Trade creditors | 567,838 |  | 683,313 |  |

| Tax | 597,318 |  | 783,748 |  |

| Social security and other taxes | 1,657 |  | 3,704 |  |

| VAT | 159,914 |  | 201,337 |  |

| Other creditors | - |  | 3,230 |  |

| Directors' current accounts | 9,401 |  | 2,337 |  |

| Accruals and deferred income | 271,340 |  | 310,303 |  |

1,607,468 |  | 1,987,972 |  |

15. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

| as restated |

£ | £ |

| Within one year | 922,029 |  | 897,108 |  |

| Between one and five years | 3,547,040 |  | 3,505,098 |  |

| In more than five years | 4,995,409 |  | 6,026,185 |  |

9,464,478 |  | 10,428,391 |  |

16. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

| as restated |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 477,987 |  | 529,988 |  |

| Other timing differences | 177,871 |  | 282,871 |  |

655,858 |  | 812,859 |  |

| Deferred |

| tax |

£ |

| Balance at 1 August 2024 | 812,859 |  |

| Credit to Statement of Comprehensive Income during year | (52,001 | ) |

| Unused amounts reversed during year | (105,000 | ) |

| Balance at 31 July 2025 | 655,858 |  |

| The expected reversal of deferred tax liabilities in the next 12 months is £86,511.

| INDIGO LEISURE LIMITED (REGISTERED NUMBER: 03808062) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: |  | as restated |

£ | £ |

| 5,000 | Ordinary A | £1 | 5,000 |  | 5,000 |  |

| 5,000 | Ordinary B | £1 | 5,000 |  | 5,000 |  |

10,000 |  | 10,000 |  |

| The ordinary A and B £1 shares carry equal voting rights, equal rights to a dividend entitlement, and equal rights to a distribution on winding up.

18. | PENSION COMMITMENTS

| During the year, the company contributed £1,488 (2024: £910) to a defined contribution pension plan for its employees.

19. | CONTINGENT LIABILITIES

| The company has given a cross guarantee and debenture over its assets in favour of a group undertaking. The secured borrowings at the year end were £5,879,282 (2024: £6,344,755).

20. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| During the year, a director was advanced £nil (2024: £438) by the company and made repayments of £438 (2024: £nil). At the year end, the director owed the company £nil (2024: £438). The advances were interest-free, unsecured and repayable on demand.

21. | 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 with wholly owned subsidiaries within the group.

| Key management personnel of the entity or its parent (in the aggregate)

2025 | 2024 |

| as restated |

£ | £ |

| Dividends | - |  | 2,582,024 |  |

| Amount due from related party | - |  | 438 |  |

| Amount due to related party | 9,401 |  | 2,776 |  |

| Amounts owed from and to key management personnel are interest-free, unsecured and repayable on demand.

22. | PARENT COMPANY

| The parent company of Indigo Leisure Limited is YYZ Group Limited. Its registered office is 63 Western Road, Hove, East Sussex, BN3 1JD.

| The accounts of Indigo Leisure Limited are consolidated into the financial statements of YYZ Group Limited. These can be obtained from Companies House.