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Registered number:
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 28 DECEMBER 2025
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EAGLE 2 LIMITED
CONTENTS
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EAGLE 2 LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 28 DECEMBER 2025
.The directors present their report and financial statements for the period ended 24 December 2023.
Eagle 2 Limited is an intermediary holding subsidiary of Competitive Socialising Group Limited. Competitive Socialising is the London and New York-based parent company of Swingers, the high-end crazy golf entertainment experience. The principal activity of the group remains that of experiential leisure in the hospitality market. The group remains focused on developing in new geographies and offering innovative competitive experiences combined with best-in-class food, cocktails and service.
In December 2022, Swingers completed the lease for its flagship Las Vegas venue, opening Autumn 2024 at Mandalay Bay Resort and Casino. In May 2023, Swingers agreed to open a new location on Bluewaters Island, Dubai, UAE, which will be Swingers’ first franchise, in partnership with Daud Investments. It is scheduled to open in Autumn 2024. In May 2023, Competitive Socialising completed its Series-C $52m growth capital raise to fund its continued expansion. This investment was part funded by Jampurchaseco Limited, who followed on their Series-B investment of 2018. They were joined in the round by a number of third party institutional investors. The board continues to manage the group’s cost base despite significant macroeconomic cost pressures but is well placed for growth over the coming years.
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EAGLE 2 LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 28 DECEMBER 2025
Financial instruments
The Group's principal financial instruments comprise bank balances, rent deposits, bank loans, letters of credit, trade creditors and other creditors. The main purpose of these instruments is to raise funds for the Group's operations and to finance the Group's operations. Due to the nature of the financial instruments used by the Group there is no exposure to price risk. The Group'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 Group 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 Group operates is becoming increasingly competitive through the introduction of new entrants as well as the expansion of established players. Trading demonstrates that the Group maintains a strong position, due to factors including the location of the sites, the brand recognition and the quality of the experience provided. These factors are expected to ensure continued growth and profitability. Employee Involvement The Group 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 Group. Appointments are determined solely by application of job criteria and competency. Environmental Policy The Group will seek to minimise adverse impacts on the environment from its activities where possible, whilst continuing to address health, safety and economic issues. The group has complied with all applicable legislation and regulations
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EAGLE 2 LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 28 DECEMBER 2025
The Directors of the Company strive to act in ways most likely to promote the success of the business for the benefit of its stakeholders having regard to the matters set out in S172 (1) a-f of the Companies Act 2006 when making strategic decisions.
The following Section 172 (1) statement is made on behalf of the Company in Compliance with the Act. Foster business relationships with suppliers, customers and other stakeholders Suppliers The Company works hard to ensure that its suppliers are treated fairly and are valued and that relationships with them can be managed actively. Customers The Company is customer focused which is why customer service is essential. The Company is always looking for new ways to strengthen customer services and is continuously engaging with customers to build even deeper relationships. Community and Environment Building trust with customers and the communities around them is important. The Company aims to facilitate positive change for the people and communities in which it interacts. Business conduct The company seeks to operate with high ethical standards and integrity by conducting business activities in compliance with applicable legal and regulatory requirements. The company also implements internal policies governing behaviour and conduct as well as policies that protect customers and promote better services. The Company undertakes an ongoing review of how evolving legislation, guidelines and best practises should be best reflected on topics including conduct, risk, compliance and the sustainable development of the industry. Acting fairly between shareholders The Company is committed to acting fairly with its shareholders and being transparent in its activities and directions. Likely consequences of any decision in the long term Each year, a review of the Company’s strategy is carried out for the following year and beyond as part of the budgeting process. This helps to plan ahead and also forms the basis for financial budgets and planning and other strategic plans. The Company considers the long term implications of any decisions made with its stakeholders in mind and its long term reputation.
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EAGLE 2 LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 28 DECEMBER 2025
The directors present their report and the financial statements for the period ended 28 December 2025.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
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.
The directors who served during the period were:
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EAGLE 2 LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 28 DECEMBER 2025
Since the period end, Competitive Socialising Group has had a further growth capital raise of $10m. Funded by the same third party institutional investors as the growth capital raises within the period.
The auditors, Harris & Trotter, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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EAGLE 2 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAGLE 2 LIMITED
UNDER SECTION 449 OF THE COMPANIES ACT 2006
We have audited the financial statements of Eagle 2 Limited (the 'Company') for the period ended 28 December 2025, which comprise the Balance Sheet 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 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.
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EAGLE 2 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAGLE 2 LIMITED (CONTINUED)
UNDER SECTION 449 OF THE COMPANIES ACT 2006
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.
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.
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.
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EAGLE 2 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAGLE 2 LIMITED (CONTINUED)
UNDER SECTION 449 OF THE COMPANIES ACT 2006
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:
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 noncompliance with laws and regulations, our procedures included the following: • We obtained an understanding of the legal and regulatory frameworks applicable to the Group 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.
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EAGLE 2 LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAGLE 2 LIMITED (CONTINUED)
UNDER SECTION 449 OF THE COMPANIES ACT 2006
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.
for and on behalf of
Accountants & Business Advisers
First Floor South
W1W 6XH
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EAGLE 2 LIMITED
REGISTERED NUMBER: 13424511
BALANCE SHEET
AS AT 28 DECEMBER 2025
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EAGLE 2 LIMITED
REGISTERED NUMBER: 13424511
BALANCE SHEET (CONTINUED)
AS AT 28 DECEMBER 2025
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 statement of comprehensive income 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 on
The notes on pages 12 to 18 form part of these financial statements.
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EAGLE 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2025
Eagle 2 Limited is a private company limited by shares, and is incorporated in Engalnd and Wales (company number: 13424511).
Its registered office is 101 New Cavendish Street, First Floor South, London, W1W 6XH. The Company's principal activity is that of a holding company.
2.Accounting policies
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.
The following principal accounting policies have been applied:
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 Companies House.
The financial statements have been prepared on the going concern basis. The company is dependent on the group companies and shareholders for financial support, which the directors are confident will continue for a period of atleast another 12 months following the approval of these financial statements.
As at 28 December 2025, the Company had net assets of £63,354,764 (2024: liability £64,502,525). The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders, and accordingly the directors have continued to prepare the financial statements on the going concern basis.
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EAGLE 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2025
2.Accounting policies (continued)
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EAGLE 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The loss after tax of the parent Company for the period was £
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EAGLE 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2025
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EAGLE 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2025
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EAGLE 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2025
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EAGLE 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2025
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.
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