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Registered number: 05346727
ATTRACTION WORLD LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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ATTRACTION WORLD LIMITED
REGISTERED NUMBER: 05346727
BALANCE SHEET
AS AT 31 OCTOBER 2025
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Shareholders' (deficit)/funds
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Page 1
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ATTRACTION WORLD LIMITED
REGISTERED NUMBER: 05346727
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2025
Please see details of the prior year reclassification included in note 14.
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 14 form part of these financial statements.
Page 2
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ATTRACTION WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Attraction World Limited is a private company, incorporated and domiciled in the United Kingdom. The address of its registered office is First Floor New Oxford House, Waterloo Street, Birmingham, West Midlands, B2 5UG.
The financial statements are prepared in Sterling (£) which is the functional currency of the company. The
financial statements are for the year ended 31 October 2025 (2024: year ended 31 October 2024).
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis. In making this assessment, the directors have considered the group’s financial performance, cash flow forecasts, and liquidity position for a period of at least twelve months from the date of approval of these financial statements.
The directors have prepared detailed forecasts which indicate that the group is expected to meet its obligations as they fall due. These forecasts reflect current trading performance, anticipated future revenues, and expected cost levels.
The group continues to benefit from ongoing support from its investors, who have confirmed their intention to continue providing funding as required. The group also has access to funding facilities which, together with forecast operating cash flows, are expected to be sufficient to meet working capital requirements.
Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit or loss account.
Page 3
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ATTRACTION WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
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Turnover - commission and margin
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Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of turnover can be measured reliably;
∙it is probable that the company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Turnover represents the net commission earned from services provided falling within the company's activities after value added tax and other sales taxes.
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Operating leases: the company as lessee
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Rentals paid under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which is 4 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Interest income is recognised in the profit and loss account using the effective interest method.
Finance costs are charged to the profit and loss account 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.
Page 4
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ATTRACTION WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
All borrowing costs are recognised in the profit and loss account in the year in which they are incurred.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Page 5
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ATTRACTION WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account except when deferred in other comprehensive income as qualifying cash flow hedges.
Exceptional items are transactions that fall outside the ordinary activities of the company and are presented separately due to their size or incidence.
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the profit and loss account over its useful economic life.
Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation is provided on the following bases:
Page 6
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ATTRACTION WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Repairs and maintenance are charged to the profit and loss account during the period in which they are incurred. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account.
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 third parties and loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in the profit and loss account in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.
Page 7
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ATTRACTION WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Judgments in applying accounting policies and key sources of estimation uncertainty
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In preparing these financial statements, the directors have had to make judgements, estimates and assumptions that effect the application of policies and reported amounts of assets, liabilities, income and expenses.
The estimates and associated assumptions are based on historical experiences and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities and are not readily apparent from other sources. Actual results may differ from these estimates. The judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are:
Derivative financial instrument valuation
Forward contracts are used to minimise the impact of foreign exchange fluctuations on the company. An asset or liability is recognised representing the fair value of the instruments in place at the year end. The fair value included is calculated using financial validation models by reference to the fixed forward currency rate and the rate prevailing at the year end date. Changes in the fair value of the instruments are recognised in the profit and loss account.
The directors have chosen to include the fair value movement within finance costs in the profit and loss account as they consider the movement to be financing in nature and the derivatives are taken out in order to manage the cash flows of the business. FRS 102 is not prescribing in terms of the categorisation of the fair value movement within the profit and loss account.
Carrying value of intangible assets and goodwill
In determining the recoverable amount, it is necessary to make a series of assumptions to estimate the higher of fair value less costs to sell and the present value of future cash flows. In each case these assumptions have been made by management reflecting past experience and are consistent with relevant external sources of information.
Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Trade debtors
At each reporting date, trade debtors are assessed for recoverability. If there is any evidence of impairment, the carrying amount of the debtor is reduced to its recoverable amount. The impairment loss is recognised immediately in the profit and loss account.
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The average monthly number of employees, including directors, during the year was 32 (2024: 38).
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Page 8
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ATTRACTION WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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During the year, £367,525 of restructuring costs were incurred, including £86,900 of legal and professional fees regarding employees leaving the business as a result of redundancy and other restructuring programmes. Additionally, £294,201 of costs were recognised as exceptional in relation to prior period adjustments.
During the prior year, Attraction World Limited incurred exceptional costs of £360,069 charged to the profit and loss account. Following a financial review, these balances were written off to present a clearer and more accurate financial position. The adjustments are one-off in nature, classified as exceptional due to their significant impact on the year's results. It is important to note that these costs do not reflect the underlying profitability of the company.
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Page 9
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ATTRACTION WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 10
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ATTRACTION WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Due after more than one year
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Deferred tax asset (note 12)
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Please see details of the prior year reclassification included in note 14.
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Amounts owed by group undertakings
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Prepayments and accrued income
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Corporation tax recoverable
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All amounts fall due for payment within one year. Amounts owed by group undertakings are free from interest, unsecured and repayable on demand.
Please see details of the prior year reclassification included in note 14.
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Creditors: Amounts falling due within one year
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Payments received on account
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Other taxation and social security
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Accruals and deferred income
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Please see details of the prior year reclassification included in note 14.
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Page 11
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ATTRACTION WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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The company receives funding from its ultimate parent company in the form of a revolving credit facility. On 1 August 2025, the revolving credit facility was increased from £3,000,000 to £4,000,000. Interest is charged at the Bank of England's Base Rate plus a 10% margin. Interest accrues daily and is payable monthly, with up to 50% of interest allowed to be capitalised as PIK and added to the outstanding principal. Amounts repaid may be re-borrowed in accordance with the agreement. The outstanding balance is due for repayment on 6 October 2028.
The RCF is secured by an all-assets debenture over the assets of the obligors within the group. At the balance sheet date amounts of £4,360,668 (2024: £3,222,810) were owed in relation to this RCF.
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Credited to the profit and loss account
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Page 12
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ATTRACTION WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
12.Deferred taxation (continued)
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The deferred tax asset is made up as follows:
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Fixed asset timing differences
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Short-term timing differences
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Losses and other deductions
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Allotted, called up and fully paid
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3,112 Ordinary shares of £0.10 each
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The profits of the company are available for distribution in respect of each accounting period. In the event of winding-up the company, surplus assets and retained profits of the company after payment of its liabilities are available for distribution among the members. All shares carry voting rights of one vote per share.
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Prior year reclassification
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For the year ended 31 October 2024, ‘Deferred taxation’ has been reclassified from ‘Debtors due within one year’ to ‘Debtors due after more than one year’. This reclassification is to accurately reflect the nature of the deferred taxation balance at 31 October 2024. This reclassification has had no impact on the profit and loss account or total net assets for the current or prior period.
For the year ended 31 October 2024, £17,677 has been reclassified from ‘Bank overdrafts’ to ‘Other creditors’. This reclassification is to accurately reflect the nature of these balances. This reclassification has had no impact on the profit and loss account or total net assets for the current or prior period.
For the year ended 31 October 2024, £23,286 has been reclassified from ‘Turnover’ to ‘Administrative expenses’. This reclassification is to accurately reflect the nature of these balances. This reclassification has had no impact on the profit and loss account or total net assets for the current or prior period.
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £72,101 (2024: £90,364). Contributions totalling £12,585 (2024: £38,782) were payable to the fund at the balance sheet date and are included in creditors.
Page 13
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ATTRACTION WORLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Commitments under operating leases
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At 31 October 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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The company has taken advantage of the exemption conferred by FRS 102 section 33 'Related Party Disclosures' not to disclose transactions with companies within the group which it is a member, where these transactions occur between entities which are 100% owned members of that group.
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On 29 March 2016, the company registered a fixed and floating charge over all current and future assets and obligations, in favour of Barclays Bank PLC.
During the year ended 31 October 2020, the parent company obtained a Coronavirus Business Interruption Loan. The loan is secured through a cross guarantee and asset debenture between Attraction World Holdings Limited and Attraction World Limited. The outstanding balance of this loan at 31 October 2025 was £369,231 (2024: £738,462).
On 16 October 2023, a fixed and floating charge over all current and future assets of the company and the group was registered by Highmore Financing CO XII, LP, in respect of the group debentures.
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Ultimate parent undertaking and controlling party
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The immediate parent company is Attraction World Holdings Limited. Attraction World Holdings Limited is incorporated and domiciled in the United Kingdom, and shares the same registered office at First Floor New Oxford House, Waterloo Street, Birmingham, B2 5UG.
At the balance sheet date, the ultimate parent undertaking of the group is Highmore Trade Finance Fund, LP. Highmore Trade Finance Fund, LP was incorporated and domiciled in Delaware, United States, and has a registered office at 750 Lexington Avenue, 24th Floor, New York, 10022.
Page 14
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