ACCOUNTS - Final Accounts

Operating loss

The operating loss is stated after charging:

Registered number: 10701270

SWINGERS 1 LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 DECEMBER 2025

SWINGERS 1 LIMITED

COMPANY INFORMATION

Directors	A J Taylor (resigned 31 January 2025)
	M R Grech-Smith (resigned 1 September 2025)
	J D Simmonds
	J Goldstein
	J N D Stelzer (appointed 24 January 2025)


Registered number	10701270


Registered office	101 New Cavendish Street
	1st Floor South
	London
	W1W 6XH


Independent auditors	Harris & Trotter LLP
	Accountants & Business Advisers
	101 New Cavendish Street
	1st Floor South
	London
	United Kingdom
	W1W 6XH

SWINGERS 1 LIMITED

CONTENTS

	Page
Strategic Report	1 - 2
Independent Auditors' Report	3 - 6
Statement of Comprehensive Income	7
Balance Sheet	8 - 9
Statement of Changes in Equity	10
Notes to the Financial Statements	11 - 22

SWINGERS 1 LIMITED

STRATEGIC REPORT

FOR THE PERIOD ENDED 29 DECEMBER 2024

Introduction

The directors present their report and financial statements for the period ended 28 December 2025.

Business review

On the 14th March 2025, the company closed it doors permanently due to a Landlord redevelopment. The wider group continues to trade in London in its West End location.


December 2025	December 2024	December 2023
£	£	£


Turnover	643,489	4,725,186	5,976,020
Gross profit / (loss)	295,465	2,433,905	2,525,009
Profit / (loss) before taxation	(608,708)	(590,125)	(656,723)
Profit / (loss) pre exceptional items	(444,915)	(549,392)	(821,150)
Shareholders' funds	15,464	593,243	1,195,914

Page 1

SWINGERS 1 LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE PERIOD ENDED 28 DECEMBER 2025

Principal risks and uncertainties

Financial instruments

The Company's principal financial instruments comprise bank balances, rent deposits, trade creditors and other creditors. The main purpose of these instruments is to raise funds for the Company's operations and to finance the Company's operations.

Due to the nature of the financial instruments used by the Company there is no exposure to price risk. The Company's approach to managing other risks applicable to the financial instruments concerned is shown below.

Liquidity risk

In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and the flexibility through the use of bank loans. The Company does not make use of money market facilities.

Trade creditor liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Competition

The market in which the Company operates is becoming increasingly competitive through the introduction of new entrants as well as the expansion of established players. The directors believe that the Company maintains a strong position, in terms of the location of the site, the brand recognition and the quality of the experience provided.

These factors are expected to ensure continued growth and profitability.

Employee involvement

The Company is committed to providing equality of opportunity to all employees without discrimination and applied fair and equitable employment policies which ensure entry and progression within the Company. Appointments are determined solely by application of job criteria and competency.

Environmental policy

The Company will seek to minimise adverse impacts on the environment from its activities where possible, whilst continuing to address health, safety and economic issues. The Company has complied with all applicable legislation and regulations.

This report was approved by the board and signed on its behalf.

J D Simmonds

Director

Date: 18 August 2026

Page 2

SWINGERS 1 LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SWINGERS 1 LIMITED

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Opinion

We have audited the financial statements of Swingers 1 Limited (the 'Company') for the period ended 28 December 2025, which comprise the Profit and Loss Account, the Balance Sheet, 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 28 December 2025 and of its loss for the period 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 3

SWINGERS 1 LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SWINGERS 1 LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

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 period 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; or

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 4

SWINGERS 1 LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SWINGERS 1 LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

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:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

• We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the industry in which it operates. We determined that the following laws and regulations were most significant: FRS 102 and the Companies Act 2006.

• We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making enquiries of management.

• We challenged assumptions and judgments made by management in its significant accounting estimates.

We did not identify any key audit matters relating to irregularities, including fraud.

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 5

SWINGERS 1 LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SWINGERS 1 LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

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.

Daniel Walters (Senior Statutory Auditor)

for and on behalf of

Harris & Trotter LLP

Accountants & Business Advisers

101 New Cavendish Street

1st Floor South

London

United Kingdom

W1W 6XH

18 August 2026

Page 6

SWINGERS 1 LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 28 DECEMBER 2025

	Continuing operations	Discontin'd operations	Continuing operations	Discontinued operations
	28 December	28 December	29 December	29 December
	2025	2025	2024	2024
Note	£	£	£	£


Turnover	3	-	643,489	-	4,725,186
Cost of sales		-	(348,024)	-	(2,291,281)
Gross profit		-	295,465	-	2,433,905
Administrative expenses		-	(738,090)	-	(2,973,604)
Exceptional administrative expenses		-	(164,513)	-	(40,733)
Operating loss	4	-	(607,138)	-	(580,432)
Interest receivable and similar income	8	-	215	-	996
Interest payable and similar expenses	9	-	(1,785)	-	(10,688)
Loss before tax		-	(608,708)	-	(590,124)
Tax on loss		-	306,421	-	(12,546)
Loss for the financial period		-	(302,287)	-	(602,670)

Other comprehensive income for the period
Total comprehensive income for the period

The notes on pages 11 to 22 form part of these financial statements.

Page 7

SWINGERS 1 LIMITED

REGISTERED NUMBER: 10701270

BALANCE SHEET

AS AT 28 DECEMBER 2025

	28 December	29 December
	2025	2024
Note	£	£

Fixed assets
Intangible assets	12		-		2,541
Tangible assets	13		-		200,550
			-		203,091
Current assets
Stocks	14	-		50,362
Debtors: amounts falling due within one year	15	3,521,268		3,567,371
Cash at bank and in hand	16	7,788		290,055
		3,529,056		3,907,788
Creditors: amounts falling due within one year	17	(3,238,099)		(3,517,635)
Net current assets			290,957		390,153
Total assets less current liabilities			290,957		593,244

Net assets			290,957		593,244

Capital and reserves
Called up share capital	18	1	1
Profit and loss account		290,956	593,243
		290,957	593,244

Page 8

SWINGERS 1 LIMITED

REGISTERED NUMBER: 10701270

BALANCE SHEET (CONTINUED)

AS AT 28 DECEMBER 2025

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the 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 on 18 August 2026.

J D Simmonds

Director

The notes on pages 11 to 22 form part of these financial statements.

Page 9

SWINGERS 1 LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 28 DECEMBER 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 25 January 2024	1	1,195,913	1,195,914

Loss for the period	-	(602,670)	(602,670)

At 30 December 2024	1	593,243	593,244

Loss for the period	-	(302,287)	(302,287)
At 28 December 2025	1	290,956	290,957

The notes on pages 11 to 22 form part of these financial statements.

Page 10

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 DECEMBER 2025

1.	General information

Swingers 1 Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England & Wales (registered number: 10701270).

The principal activity of the Company continued to be that of the provision of experiential leisure in the hospitality market.

The Company's registered office address is 101 New Cavendish Street, First Floor South, London, W1W 6XH. The principal place of business is 8 Brown's Buildings, London, EC3A 8AL.

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.

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.

The following principal accounting policies have been applied:

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).

This information is included in the consolidated financial statements of Competitive Socialising Group Limited as at 28 December 2025 and these financial statements may be obtained from 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.

2.3

Going concern

In assessing the ability of the Company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the Company.

Having reviewed future forecasts, allowing for reasonable effects of current and future market conditions, the directors have a reasonable expectation that the company has adequate resources to continue operational existence for at least 12 months from the date of approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the annual financial statements.

Page 11

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 DECEMBER 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue 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.

2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss 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.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

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.

Page 12

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 DECEMBER 2025

2.Accounting policies (continued)

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

2.9

Pensions

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 profit or loss 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.

2.10

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss 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.

2.11

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.

Page 13

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 DECEMBER 2025

2.Accounting policies (continued)

2.12

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.

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.

2.13

Tangible fixed assets

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Short-term leasehold property	-	Over the life of the lease
Fixtures and fittings	-	25% straight line method
Equipment	-	25% straight line method
Computer equipment	-	25% straight line method

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 profit or loss.

2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.15

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.

Page 14

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 DECEMBER 2025

2.Accounting policies (continued)

2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.17

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.

Turnover

					28 December	29 December
					2025	2024
					£	£

United Kingdom	643,489	4,725,186
	643,489	4,725,186

Other operating lease rentals

44,492

257,573

5.	Auditors' remuneration

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.

Page 15

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 DECEMBER 2025

Wages and salaries	332,311	1,854,944
Social security costs	27,608	159,142
Cost of defined contribution scheme	2,142	11,942
	362,061	2,026,028

The average monthly number of employees, including the directors, during the period was as follows:

	28 December	29 December
	2025	2024
	No.	No.

Employees	17	75

7.	Directors' remuneration

No Directors took a salary from Swingers 1 Limited during the year. Details of the highest paid director for the group can be found in the parent company consolidated accounts.

	Other interest receivable	215	996
		215	996

Page 16

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 DECEMBER 2025

	Bank interest payable	1,785	10,688
		1,785	10,688



Total current tax	-	-

Deferred tax
Origination and reversal of timing differences	(306,421)	12,546
Total deferred tax	(306,421)	12,546


	Tax on loss	(306,421)	12,546

Page 17

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 DECEMBER 2025

10.Taxation (continued)

Loss on ordinary activities before tax

(608,708)

(590,124)

Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	(152,177)	(147,531)
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	205,383	51
Capital allowances for period in excess of depreciation	(43,359)	(12,036)
Rollover relief on profit on disposal of fixed assets	-	-
Increase or decrease in pension fund prepayment leading to an increase (decrease) in tax	-	-
Short-term timing difference leading to an increase (decrease) in taxation	(306,421)	-
Changes in provisions leading to an increase (decrease) in the tax charge	-	12,547
Unrelieved tax losses carried forward	(9,847)	159,515
Total tax charge for the period	(306,421)	12,546

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

	Restructuring costs	164,513	40,733
		164,513	40,733

Page 18

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 DECEMBER 2025

12.	Intangible assets

		Computer software
		£

	At 30 December 2024	10,275
	Disposals	(10,275)
	At 28 December 2025	-

	At 30 December 2024	7,734
	Charge for the period on owned assets	334
	On disposals	(8,068)
	At 28 December 2025	-
	Net book value
	At 28 December 2025	-
	At 29 December 2024	2,541

Page 19

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 DECEMBER 2025

13.	Tangible fixed assets

	Short-term leasehold property	Fixtures and fittings	Equipment	Computer equipment	Total
	£	£	£	£	£

At 30 December 2024	3,047,062	918,789	56,083	182,439	4,204,373
Disposals	(3,047,062)	(918,789)	(56,083)	(182,439)	(4,204,373)
At 28 December 2025	-	-	-	-	-

At 30 December 2024	3,047,062	757,554	31,913	167,295	4,003,824
Charge for the period on owned assets	-	12,733	1,707	1,459	15,899
Disposals	(3,047,062)	(770,287)	(33,620)	(168,754)	(4,019,723)
At 28 December 2025	-	-	-	-	-
Net book value
At 28 December 2025	-	-	-	-	-
At 29 December 2024	-	161,235	24,170	15,145	200,550

Finished goods and goods for resale	-	50,362
	-	50,362

Page 20

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 DECEMBER 2025

15.

Debtors

					28 December	29 December
					2025	2024
					£	£


Trade debtors	5,638	54,672
Amounts owed by group undertakings	2,716,628	2,885,855
Other debtors	28,420	48,132
Prepayments and accrued income	-	114,553
Deferred taxation	770,582	464,159
	3,521,268	3,567,371

Cash at bank and in hand	7,788	290,055
	7,788	290,055

Trade creditors	15,623	343,707
Amounts owed to group undertakings	3,207,765	2,798,717
Other taxation and social security	-	30,436
Other creditors	2,178	132,665
Accruals and deferred income	12,533	212,110
	3,238,099	3,517,635

Page 21

SWINGERS 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 DECEMBER 2025

Allotted, called up and fully paid

1 (2024 - 1) Ordinary Shares share of £1.00	1	1

19.	Related party transactions
	FRS 102 does not require disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

20.	Controlling party

The smallest group to consolidate these financial statements is Competitive Socialising Group Limited, a private Company incorporated in England & Wales (registered number: 13420604). The registered office of Competitive Socialising Group Limited is 101 New Cavendish Street, First Floor South, London, W1W 6XH.

Page 22