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REGISTERED NUMBER: 06528816 (England and Wales)

THAT TORQUAY COMPANY LIMITED

Directors' Report and

Unaudited Consolidated Financial Statements

for the Year Ended 31 December 2024

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Contents of the Consolidated Financial Statements

for the year ended 31 December 2024

Page |

| Company Information | 1 |

| Directors' Report | 2 |

| Accountants' Report | 3 |

| Consolidated Income Statement | 4 |

| Consolidated Balance Sheet | 5 |

| Company Balance Sheet | 7 |

| Consolidated Statement of Changes in Equity | 8 |

| Company Statement of Changes in Equity | 9 |

| Notes to the Consolidated Financial Statements | 10 |

| THAT TORQUAY COMPANY LIMITED |

Company Information

for the year ended 31 December 2024

| Directors: | R S Kelvin CBE

| L D Page

| S A Brown

| P S Tisdale

| Registered office: | 18 Albert Road

| Bournemouth

| BH1 1BZ

| Registered number: | 06528816 (England and Wales)

| Accountants: | Cooper Parry Advisory Limited

| Broadwalk House, 5th Floor

| 5 Appold Street

| Broadgate

| London

| EC2A 2AG

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Directors' Report

for the year ended 31 December 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

Principal activity

The principal activity of the group includes operating hotels, office space rental, retail space rental and financial intermediary for group companies.

Directors

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

R S Kelvin CBE

L D Page

S A Brown

P S Tisdale

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

S A Brown - Director

15 April 2026

Accountants' Report to the Board of Directors

on the Unaudited Financial Statements of

That Torquay Company Limited

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of That Torquay Company Limited for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity and the related notes from the company's and the group's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of That Torquay Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of That Torquay Company Limited and state those matters that we have agreed to state to the Board of Directors of That Torquay Company Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the group and the company's Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that That Torquay Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of That Torquay Company Limited. You consider that That Torquay Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of That Torquay Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

15 April 2026

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Consolidated

Income Statement

for the year ended 31 December 2024

2024 | 2023 |

| £ | £

Turnover | 3,408,892 |  | 3,288,878 |  |

Cost of sales | (1,161,101 | ) | (1,149,323 | ) |

Gross profit | 2,247,791 |  | 2,139,555 |  |

Administrative expenses | (2,835,770 | ) | (2,940,236 | ) |

(587,979 | ) | (800,681 | ) |

Other operating income | 237,514 |  | 276,368 |  |

Operating loss | (350,465 | ) | (524,313 | ) |

Interest payable and similar expenses | (1,340,536 | ) | (1,309,102 | ) |

Loss before taxation | (1,691,001 | ) | (1,833,415 | ) |

Tax on loss | (403,784 | ) | - |  |

Loss for the financial year | (2,094,785 | ) | (1,833,415 | ) |

Loss attributable to:

Owners of the parent | (2,094,785 | ) | (1,833,415 | ) |

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Consolidated Balance Sheet

31 December 2024

2024 | 2023 |

| Notes | £ | £

Fixed assets

Tangible assets | 5 | 27,995,712 |  | 28,688,743 |  |

Investments | 6 | - |  | - |  |

27,995,712 |  | 28,688,743 |  |

Current assets

Stocks | 6,669 |  | 5,953 |  |

Debtors | 7 | 607,264 |  | 539,703 |  |

Cash at bank and in hand | 316,847 |  | 315,402 |  |

930,780 |  | 861,058 |  |

Creditors

Amounts falling due within one year | 8 | (17,003,230 | ) | (17,109,951 | ) |

Net current liabilities | (16,072,450 | ) | (16,248,893 | ) |

Total assets less current liabilities | 11,923,262 |  | 12,439,850 |  |

Creditors

Amounts falling due after more than one year | 9 | (20,625,192 | ) | (19,450,779 | ) |

Provisions for liabilities | (573,959 | ) | (170,175 | ) |

Net liabilities | (9,275,889 | ) | (7,181,104 | ) |

Capital and reserves

Called up share capital | 10 | 100 |  | 100 |  |

Retained earnings | (9,275,989 | ) | (7,181,204 | ) |

Shareholders' funds | (9,275,889 | ) | (7,181,104 | ) |

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Consolidated Balance Sheet - continued

31 December 2024

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 15 April 2026 and were signed on its behalf by:

S A Brown - Director

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Company Balance Sheet

31 December 2024

2024 | 2023 |

| Notes | £ | £

Fixed assets

Tangible assets | 5 | - |  | - |  |

Investments | 6 | 100 |  | 100 |  |

100 |  | 100 |  |

Current assets

Debtors | 7 | 20,719,113 |  | 20,532,198 |  |

Cash at bank | 792 |  | 9 |  |

20,719,905 |  | 20,532,207 |  |

Creditors

Amounts falling due within one year | 8 | (24,960,086 | ) | (24,629,554 | ) |

Net current liabilities | (4,240,181 | ) | (4,097,347 | ) |

Total assets less current liabilities | (4,240,081 | ) | (4,097,247 | ) |

Capital and reserves

Called up share capital | 10 | 100 |  | 100 |  |

Retained earnings | (4,240,181 | ) | (4,097,347 | ) |

Shareholders' funds | (4,240,081 | ) | (4,097,247 | ) |

Company's loss for the financial year | (142,834 | ) | (162,333 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 15 April 2026 and were signed on its behalf by:

S A Brown - Director

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Consolidated Statement of Changes in Equity

for the year ended 31 December 2024

Called up |  |

share | Retained | Total |

capital | earnings | equity |

| £ | £ | £

Balance at 1 January 2023 | 100 |  | (5,347,789 | ) | (5,347,689 | ) |

Changes in equity

Total comprehensive income | - |  | (1,833,415 | ) | (1,833,415 | ) |

Balance at 31 December 2023 | 100 |  | (7,181,204 | ) | (7,181,104 | ) |

Changes in equity

Total comprehensive income | - |  | (2,094,785 | ) | (2,094,785 | ) |

Balance at 31 December 2024 | 100 |  | (9,275,989 | ) | (9,275,889 | ) |

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Company Statement of Changes in Equity

for the year ended 31 December 2024

Called up |  |

share | Retained | Total |

capital | earnings | equity |

| £ | £ | £

Balance at 1 January 2023 | 100 |  | (3,935,014 | ) | (3,934,914 | ) |

Changes in equity

Total comprehensive income | - |  | (162,333 | ) | (162,333 | ) |

Balance at 31 December 2023 | 100 |  | (4,097,347 | ) | (4,097,247 | ) |

Changes in equity

Total comprehensive income | - |  | (142,834 | ) | (142,834 | ) |

Balance at 31 December 2024 | 100 |  | (4,240,181 | ) | (4,240,081 | ) |

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Notes to the Consolidated Financial Statements

for the year ended 31 December 2024

1. | Statutory information

| That Torquay Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. | Accounting policies

| Accounting convention

| These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

| The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

| Going concern

| Although the group has net liabilities of £4,240,081 (2023: £4,097,247), the ultimate controlling party has provided continued support to the group. As such, at the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Hence, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

| Basis of consolidation

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

| The consolidated group financial statements consist of the financial statements of the parent company That Torquay Company Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

| All financial statements are made up to 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

| All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2024

2. | Accounting policies - continued

| Critical accounting judgements and key sources of estimation uncertainty

| In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Critical judgements

| The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

| Management charge

| Management recharges are levied from That Topco Limited, a company connected by way of common directorships. The recharge which includes salary and overhead costs is based on managements estimate of the amount of time spend on the affairs of That Torquay Company Limited and its group companies.

| Recoverability of intercompany balances

| The company has balances due from related companies connected by common ownership. Management are of the opinion that these balances are fully recoverable and therefore no provision has been made against these balances.

| Depreciation

| The directors consider the depreciation policy to be a crucial accounting estimate. The expected useful life of all fixed asset categories are reviewed annually by management based on industry experience and are considered reasonable.

| Turnover

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

| Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, to the date when the service is provided and is shown net of VAT and trade discounts.

| Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

| Recharges and interest disbursements are recognised in respect of loan arrangement services supplied during the year. Revenue from recharges is recognised when the facility is made available.

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2024

2. | Accounting policies - continued

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

| Freehold property |  | 125 years |  |

| Plant and machinery |  | 15 & 25 years |  |

| Fixtures, fitting and equipment |  | 12 years |  |

| Fixed asset investments

| In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

| A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

| Impairment of fixed assets

| At each reporting period end date, the group reviews the carrying amounts of its tangible 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 extent 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.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

| 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 has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

| Basic financial assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2024

2. | Accounting policies - continued

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans and loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Taxation

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

| Foreign exchange

| Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

| 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.

| Equity instruments

| Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

3. | Employees and directors

| The average number of employees for the group during the year was 43 (2023 - 43), and for the company was 4 (2023 - 4).

4. | Individual income statement

| 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.

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2024

5. | Tangible fixed assets

| Group

Fixtures |

Freehold | Plant and | and |

property | machinery | fittings | Totals |

| £ | £ | £ | £

| Cost

| At 1 January 2024 | 21,095,058 |  | 5,212,006 |  | 4,617,448 |  | 30,924,512 |  |

| Additions | - |  | 12,381 |  | 140,757 |  | 153,138 |  |

| At 31 December 2024 | 21,095,058 |  | 5,224,387 |  | 4,758,205 |  | 31,077,650 |  |

| Depreciation

| At 1 January 2024 | 473,663 |  | 771,580 |  | 990,526 |  | 2,235,769 |  |

| Charge for year | 169,736 |  | 286,883 |  | 389,550 |  | 846,169 |  |

| At 31 December 2024 | 643,399 |  | 1,058,463 |  | 1,380,076 |  | 3,081,938 |  |

| Net book value

| At 31 December 2024 | 20,451,659 |  | 4,165,924 |  | 3,378,129 |  | 27,995,712 |  |

| At 31 December 2023 | 20,621,395 |  | 4,440,426 |  | 3,626,922 |  | 28,688,743 |  |

| The Royal Bank of Scotland PLC and Torbay Council have fixed and floating charges over the group's assets.

6. | Fixed asset investments

| Company

Shares in |

group |

undertakings |

| £

| Cost

| At 1 January 2024

| and 31 December 2024 | 100 |  |

| Net book value

| At 31 December 2024 | 100 |  |

| At 31 December 2023 | 100 |  |

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

| Subsidiary

| Details of the company's subsidiaries at 31 December 2024 are as follows:

| Name of undertaking |  | Registered office |  | Class of |  | % Held |  | % Held |  |

|  | shares held |  | Direct |  | Indirect |  |

| That Torquay H1 Limited |  | 8 Albert Raod, Bournemouth, BH1 1BZ |  | Ordinary |  | 100.00 |  | - |  |

| That Torquay H2 Limited |  | As above |  | Ordinary |  | - |  | 100.00 |  |

| That Torquay Ground Floor Limited |  | As above |  | Ordinary |  | - |  | 100.00 |  |

| That Torquay Hotel Limited |  | As above |  | Ordinary |  | - |  | 100.00 |  |

| That Torquay Offices Limited |  | As above |  | Ordinary |  | - |  | 100.00 |  |

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2024

6. | Fixed asset investments - continued

7. | Debtors: amounts falling due within one year |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

| £ | £ | £ | £

| Trade debtors | 70,166 |  | 62,397 |  | - |  | - |  |

| Amounts owed by group undertakings | 221,761 |  | 130,756 |  | 20,716,895 |  | 20,516,026 |  |

| Other debtors | 315,337 |  | 346,550 |  | 2,218 |  | 16,172 |  |

607,264 |  | 539,703 |  | 20,719,113 |  | 20,532,198 |  |

| The Royal Bank of Scotland PLC and Torbay Council have fixed and floating charges over the group and company's assets.

8. | Creditors: amounts falling due within one year |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

| £ | £ | £ | £

| Bank loans and overdrafts | 494,948 |  | 1,349,948 |  | - |  | - |  |

| Trade creditors | 491,814 |  | 344,425 |  | 82,863 |  | 38,655 |  |

| Amounts owed to group undertakings | 968,023 |  | 538,377 |  | 10,631,964 |  | 10,515,831 |  |

| Taxation and social security | 51,658 |  | 59,828 |  | - |  | - |  |

| Other creditors | 14,996,787 |  | 14,817,373 |  | 14,245,259 |  | 14,075,068 |  |

17,003,230 |  | 17,109,951 |  | 24,960,086 |  | 24,629,554 |  |

| Included in creditors due within one year are loans of £494,948 (2023 - £1,349,948) which are secured over the company and group assets.

9. | Creditors: amounts falling due after more than one year |

| Group |

2024 | 2023 |

| £ | £

| Bank loans | 8,685,394 |  | 9,056,605 |  |

| Other creditors | 11,939,798 |  | 10,394,174 |  |

20,625,192 |  | 19,450,779 |  |

| Amounts falling due in more than five years:

| Group |

2024 | 2023 |

| £ | £

| Repayable by instalments

| Bank loans more 5 yr by instal | 6,705,602 |  | 7,076,813 |  |

| Included in creditors due in more than one year are loans of £17,935,394 (2023 - £18,306,605) which are secured over the company and group assets.

THAT TORQUAY COMPANY LIMITED (REGISTERED NUMBER: 06528816) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2024

10. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

value: |  | £ | £

| 100 | Ordinary | £1.00 | 100 |  | 100 |  |

11. | Pension commitments

| The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund in the year and amounted to £12,328 (2023 - £12,328). At the year end £7,569 (2023 - £8,344) was payable and included in creditors.

12. | Related party disclosures

| The company has taken advantage of exemption of the exemption in FRS 102 from the requirement to disclose transactions with wholly owned group companies where consolidated accounts are prepared.

| The following amounts were outstanding at the reporting end date:

| Amounts due from related parties |  | 2024 |  | 2023 |  |

|  | Balance |  | Balance |  |

|  | £ |  | £ |  |

| Group |  |

| Parent company - not consolidated |  | 141,641 |  | 130,756 |  |

| Other information

| Included in creditors due after more than one year, is an amount of £2,689,800 (2023 - £1,144,174) owed to a director. Included in creditors due in less than one year, is an amount of £10,929,338 (2023 - £10,740,338) owed to a director.

| A personal guarantee of £9.25m has been given, by a director, in respect of the loans.

13. | Ultimate parent company

| The company's ultimate parent company is That Holdco Limited, a company incorporated in England and Wales.