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Registered number: 14027035 HURON BIDCO LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
HURON BIDCO LIMITED COMPANY INFORMATION
Directors | A P Williamson
| R Parry
| J W Icke
Registered number | 14027035
Registered office | 35 Churchill Park
| Colwick Business Estate
| Nottingham
| NG4 2HF
Independent auditors | Xeinadin Audit Limited
| Chartered Accountants & Statutory Auditor
| 8th Floor Becket House
| 36 Old Jewry
| London
| EC2R 8DD
HURON BIDCO LIMITED CONTENTS
| Page
Strategic report | 1 - 2
Directors' report | 3 - 4
Independent auditors' report | 5 - 8
Profit and loss account | 9
Statement of comprehensive income | 10
Statement of financial position | 11
Statement of changes in equity | 12 - 13
Notes to the financial statements | 14 - 19
HURON BIDCO LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 JULY 2025
Introduction
The directors present the Strategic Report for the year ended 31st July 2025.
Business review
The company is an intermediate holding company in the Bright Ventures Educational Group Limited (see Note 14) and holds investments in subsidiary undertakings. The company had no trading activity in the year. Principal Activity The principal activity of the Bright Ventures Educational Group Limited is the provision of school group travel arrangements on a worldwide basis across a range of educations, language, music, sport and ski tours.
Principal risks and uncertainties
As an intermediate holding company, the main risks relate to the future performance of the subsidiary undertakings. Further details of the risks facing those businesses is contained in the respective statutory accounts of the subsidiary undertakings.
Directors' statement of compliance with duty to promote the success of the Company
The company is ineligible for medium-sized company exemptions under section 467 of Companies Act. Therefore, large company accounts have been prepared. Large companies are required to publish a statement setting out how the Board have complied with Section 172(1) of the Companies Act 2006, this requires the Board to act in a manner they consider would most likely promote the success of the group for the benefit of its members as a whole, and in doing so having regard to: • likely consequences of any decisions in the long term; • interest of employees; • need to foster close business relationships with customers, suppliers and others • impact of the group’s operations on the community and environment • maintaining a reputation for high standard of business conduct • acting fairly in regard to all members of the company Directors’ Statement as required by section 414CZA of The Companies Act 2006 The Directors’ consider, individually and collectively, that, in the decision making during the year ended 31 July 2025, we have acted in good faith and in a manner which would be most likely to promote the success of the group for the benefit of its members as a whole. The key matters that the directors report on when undertaking their duties are: The likely consequence of any decision in the long term. The business is operated within tight budgetary guidelines and, as part of regular monitoring, looks out for external events that may materially impact the business and develops mitigation plans to offset any adverse impacts or take advantage of growth opportunities. The interest of the company’s employees. The company’s employees are fundamental to the long-term success of the business. The company aims to be a responsible employer in the approach to pay and benefits the employees receive. All employees have objectives and personal development plans which enable them to further their careers within the business. An annual survey is conducted to measure the engagement of the employees and follow up plans are put in place to Page 1
HURON BIDCO LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 improve this on a yearly basis. The need to foster the company’s business relationships with suppliers, customers and others. Delivery of excellent service to our customers is key to the success of the business in order to retain, grow and acquire new business. The company conducts regular client satisfaction surveys and monitors department performance against these surveys. The company maintains excellent relationships with all its suppliers and conducts regular supplier reviews to monitor performance. The impact of the company’s operations on the community and environment. The company encourages all its employees to get involved in charitable projects to improve the places where they live and work. The desirability of the company maintaining a reputation for high standards of business conduct. The directors take the reputation of the company seriously which is not limited to only operational and financial performance. The company regularly reviews its policies to ensures they remain appropriate as the business develops and grows. The need to act fairly between members. The intentions of the Board of Directors are to behave responsibly toward stakeholders and treat them fairly and equally so they too may benefit from the successful delivery of the Board’s plan. This report was approved by the board on 24 March 2026 and signed on its behalf.
J W Icke Director
Page 2
HURON BIDCO LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 JULY 2025 The directors present their report and the financial statements for the year ended 31 July 2025.
Directors' responsibilities statement
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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙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 to 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.
Directors
The directors who served during the year were:
A P Williamson
R Parry
J W Icke
Political contributions
The company made no political or charitable donations or incurred any political expenditure during the period (2024: £nil).
Future developments
As an intermediate holding company, the future developments of the business relate to the performance of the subsidiary undertakings. Further details of those future developments are contained in the respective statutory accounts of the subsidiary undertakings.
Matters covered in the Strategic report
Where necessary, disclosures relating to future developments, results and dividends have been made in the Strategic Report and have not been repeated here in accordance with Section 414C of the Companies Act 2006. Page 3
HURON BIDCO LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Post balance sheet events
On the 11th December 2025, the Company entered into a new £9.1m debt facility with Secured Fixed Income Plc. The purpose of this transaction was to refinance existing debt and redeem loan notes within the Group. Further details can be found within the Group Accounts of Bright Ventures Education Group Limited.
Auditors
The auditors, Xeinadin Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 24 March 2026 and signed on its behalf.
J W Icke Director
Page 4
HURON BIDCO LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HURON BIDCO LIMITED
Opinion
We have audited the financial statements of Huron Bidco Limited (the 'Company') for the year ended 31 July 2025, which comprise the Profit and loss account, the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, 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 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 Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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. Page 5
HURON BIDCO LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HURON BIDCO LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
Opinion 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 in relation to which 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 Directors' responsibilities statement set out on page 3, 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 is 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. Page 6
HURON BIDCO LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HURON BIDCO LIMITED (CONTINUED)
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 an Auditors' report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ∙Enquiry of management and those charged with governance around actual and potential litigation and claims; ∙Reviewing minutes of meetings of those charged with governance; ∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; ∙Enquiry of management and those charged with governance to identify any instances of non-compliance with laws and regulations. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the Company is subject to many other laws and regulations where the consequence of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance the imposition of fines or litigation or the loss of the Company’s license to operate. We identified the following areas as those most likely to have such an effect: health and safety including data protection laws, employment law compliance recognising the nature of the Company’s activities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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 Auditors' report. Page 7
HURON BIDCO LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HURON BIDCO LIMITED (CONTINUED)
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 an Auditors' report 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. Yasin Khandwalla (FCCA) (Senior statutory auditor) for and on behalf of Xeinadin Audit Limited Chartered Accountants Statutory Auditor 8th Floor Becket House 36 Old Jewry London EC2R 8DD 24 March 2026 Page 8
HURON BIDCO LIMITED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 JULY 2025
| 2025 | 2024
Note | £ | £
Administrative expenses |  | (26,834) | (26,603)
Exceptional administrative expenses | 6 | (300,000) | 2,226,476
Operating (loss)/profit |  | (326,834) | 2,199,873
Interest payable and similar expenses | 5 | (42,778) | (1,600)
(Loss)/profit before tax |  | (369,612) | 2,198,273
(Loss)/profit for the financial year |  | (369,612) | 2,198,273
The notes on pages 14 to 19 form part of these financial statements.
Page 9
HURON BIDCO LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 JULY 2025
|  |  |  | 2025 | 2024
|  |  | Note | £ | £
(Loss)/profit for the financial year |  | (369,612) | 2,198,273
Other comprehensive income |  |  |
Total comprehensive income for the year |  | (369,612) | 2,198,273
The notes on pages 14 to 19 form part of these financial statements.
Page 10
HURON BIDCO LIMITED REGISTERED NUMBER: 14027035 STATEMENT OF FINANCIAL POSITION AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Fixed asset investments |  |  | 11,006,783 |  | 8,656,783
|  |  | 11,006,783 |  | 8,656,783
Creditors: amounts falling due within one year | 8 | (1,642,778) |  | (600,000) |
Net current liabilities |  |  | (1,642,778) |  | (600,000)
Total assets less current liabilities |  |  | 9,364,005 |  | 8,056,783
Creditors: amounts falling due after more than one year | 9 |  | (7,538,812) |  | (5,861,978)
Net assets |  |  | 1,825,193 |  | 2,194,805
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 1 |  | 1
Profit and loss account | 11 |  | 1,825,192 |  | 2,194,804
|  |  | 1,825,193 |  | 2,194,805
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 March 2026.
J W Icke
Director
The notes on pages 14 to 19 form part of these financial statements. Page 11
HURON BIDCO LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JULY 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 August 2024 | 1 | 2,194,804 | 2,194,805
Comprehensive income for the year |  |  |
Loss for the year | - | (369,612) | (369,612)
At 31 July 2025 | 1 | 1,825,192 | 1,825,193
| The notes on pages 14 to 19 form part of these financial statements.
Page 12
HURON BIDCO LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JULY 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 August 2023 | 1 | (3,469) | (3,468)
Comprehensive income for the year |  |  |
Profit for the year | - | 2,198,273 | 2,198,273
At 31 July 2024 | 1 | 2,194,804 | 2,194,805
| The notes on pages 14 to 19 form part of these financial statements.
Page 13
HURON BIDCO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. | General information
Huron Bidco Limited is a private company limited by shares incorporated in the United Kingdom. The registered office and principal place of business is 35 Churchill Park Colwick Business Estate, Nottingham, United Kingdom, NG4 2HF. The principal activity of the company is an intermediate holding company for the Bright Ventures Educational Group Limited. The principle activity of the Group is the provision of school group travel arrangements on a worldwide basis across a range of educations, language, music, sport and ski tours. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. These financial statements are presented in pound sterling, which is the Company's functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
| 2.2 | 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 the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); ∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Bright Ventures Educational Group Limited as at 31st July 2025 and these financial statements may be obtained from its registered office, 35 Churchill Park, Colwick Business Estate, Nottingham, NG4 2HF.
| 2.3 | Exemption from preparing consolidated financial statements
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006. Page 14
HURON BIDCO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.4 | Going concern
The financial statements have been prepared on a going concern basis. The company is a holding company whose principal activity is holding the investment in its subsidiary undertaking. The company does not carry out trading activities and is dependent on the results and cash flows of its subsidiary to enable it to meet its liabilities as they fall due. The directors have assessed the company’s ability to continue as a going concern for a period of at least twelve months from the date of approval of the financial statements. In making this assessment, the directors have considered the financial performance, cash flow forecasts and trading outlook of the subsidiary undertaking, which indicate that trading performance has improved and is expected to continue to strengthen over the forecast period. As noted in post balance sheet events, a new £9.1m debt facility was entered into in December 2025 with the purpose of refinancing existing debt within the business. Further details can be found within the Group Accounts of Bright Ventures Education Group Limited. Based on the assessment above, the directors are satisfied that the company has adequate resources to meet is liabilities as they fall due and therefore consider it appropriate to prepare the financial statements on a going concern basis.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
| 2.7 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.8 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.10 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other Page 15
HURON BIDCO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
third parties, loans to related parties and investments in ordinary shares.
3. | Auditors' remuneration
| During the year, the Company obtained the following services from the Company's auditors and their associates:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors and their associates for the audit of the Company's financial statements | 3,500 | 3,334
| The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.
4. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Directors | 3 | 3
5. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loan interest payable | 42,778 | 1,600
|  | 42,778 | 1,600
Page 16
HURON BIDCO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
6. | Exceptional items
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Intercompany balance write off | - | (2,226,476)
| Other acquisition costs | 300,000 | -
|  | 300,000 | (2,226,476)
7. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 August 2024 | 8,656,783
| Additions | 2,350,000
| At 31 July 2025 | 11,006,783
| On 17th January 2025, with the support of Literacy Capital Plc, the company acquired the entire share capital of Skern Lodge Limited and The Ultimate Adventure Centre Limited.
| Subsidiary undertakings
| The following were subsidiary undertakings of the Company:
| Name | Registered office | Class of shares | Holding
| Halsbury Travel Limited | 35 Churchill Park, Colwick Business Estate, Nottingham, NG4 2HF | Ordinary | 100%
| IBT Travel Limited | Cairn House, 15 Skye Road, Prestwick, Ayrshire, KA9 2TA | Ordinary | 100%
| Skern Lodge Limited | 35 Churchill Park, Colwick Business Estate, Nottingham, NG4 2HF | Ordinary | 100%
| The Ultimate Adventure Limited | 35 Churchill Park, Colwick Business Estate, Nottingham, NG4 2HF | Ordinary | 100%
Page 17
HURON BIDCO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 42,778 | -
| Other creditors | 1,600,000 | 600,000
|  | 1,642,778 | 600,000
| Other creditors relates to deferred consideration payable on the acquistition of subsidiary.
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 7,538,812 | 5,261,978
| Other creditors | - | 600,000
|  | 7,538,812 | 5,861,978
| Other creditors relates to deferred consideration payable on the acquistition of subsidiary.
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2024 - 1) Ordinary share of £1.00 | 1 | 1
11. | Reserves
Profit and loss account The profit and loss account includes all current and prior periods retained profit
12. | Related party transactions
| The company has taken advantage of the exemption to disclose related party transactions with companies that are wholly owned within the Group.
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HURON BIDCO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
13. | Post balance sheet events
On the 11th December 2025, the Company entered into a new £9.1m debt facility with Secured Fixed Income Plc. The purpose of this transaction was to refinance existing debt and redeem loan notes within the Group. Further details can be found within the Group Accounts of Bright Ventures Education Group Limited.
14. | Controlling party
The ultimate controlling party is Literacy Capital Plc, by virtue of its controlling interest in the intermediary parent company, Bright Ventures Education Group Limited (formerly known as Huron Topco Limited). The immediate parent undertaking is Huron Midco Limited. The largest group to consolidate these financial statements is Bright Ventures Educational Group Limited. Copies of the group financial statements for Huron Topco Limited can be obtained from its registered office: 35 Churchill Park, Colwick Business Estate, Nottingham, NG4 2HF.
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