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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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DHP FAMILY LIMITED
COMPANY INFORMATION
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DHP FAMILY LIMITED
CONTENTS
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DHP FAMILY LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
We aim to present a balanced and comprehensive review of the performance and development of the business during and at the end of the year, consistent with its size and complexity; and in the context of risks and uncertainties that we face.
Despite continued inflationary pressures and economic uncertainty across the UK leisure, hospitality and live music sectors, DHP delivered another profitable year. Turnover for the year was £35.9 million compared with £36.6 million in 2024, with profit before tax of £2.0 million compared with £2.1 million in the prior year.
The Company’s performance demonstrates the continued resilience of the business and the strength of its position within the live music, venue and events markets. Although turnover was slightly lower than the prior year, the business remained profitable and cash generative, supported by its established venue estate, strong customer demand, and continued focus on operational management. During the year, one of our major festivals returned in July 2025 following a planned break in 2024. This helped strengthen the wider events programme and supported the continued development of the Company’s live music offering.
As the business looks to the future, it continues to face risks from local competition within the late-night hospitality sector and national competition within the live music and events markets. These market dynamics present ongoing challenges to growth, margin protection and market share.
Regulatory compliance remains a key area of focus and is critical to maintaining operational continuity across all venues. The business continues to manage this risk through robust internal risk management systems designed to uphold licensing standards and ensure full adherence to regulatory requirements. These measures help protect our licences and reinforce our reputation as a responsible operator in a regulated industry. The business also continues to experience cost pressures across staffing, utilities, insurance, repairs and other overhead areas. Administrative expenses increased during the year, reflecting the wider inflationary environment and ongoing investment in the operating base of the business.
Turnover for 2025 was £35.9 million, a reduction of £0.7 million compared with £36.6 million in 2024. Ticket and event income reduced from £21.0 million to £19.7 million.
Gross profit for the year was £11.7 million compared with £12.7 million in 2024. Gross profit margin reduced from 34.5% to 32.5%, reflecting changes in the mix of income and continued pressure across event and operational cost lines. Profit before tax was £2.0 million compared with £2.1 million in 2024. The Company recorded an operating profit of £1.1 million, with profit before tax supported by interest income and the reversal of a previous impairment charge against investments. Year-end cash balances increased to £8.4 million compared with £7.3 million at the end of 2024. This reflects the Company’s continued focus on cash management and maintaining a strong liquidity position. Administrative expenses increased to £9.2 million from £8.4 million in the prior year. As a proportion of turnover, administrative expenses increased from approximately 23.1% to 25.6%, reflecting higher overhead costs across the business. Net assets increased to £10.9 million from £9.8 million in 2024, reflecting the profit retained in the business after dividends paid during the year.
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DHP FAMILY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Stakeholder engagement
At DHP Family, we recognise our legal obligation under Section 172 of the Companies Act 2006 to act in a manner that we, in good faith, believe would most likely promote the success of the Company for the benefit of its members as a whole. In fulfilling this duty, we are committed to considering the long-term consequences of our decisions on the Company and its stakeholders. This statement outlines how the Board of Directors endeavours to uphold this responsibility. Since the opening of our flagship venue Rock City over 40 years ago, DHP Family has grown to become a leading name in the live music industry, with a reputation for its innovative and creative approach to music production and promotion. We have established ourselves as one of the biggest independent promoters in the UK, while continuing to operate with the original values and principles that have supported the Company’s long-term success. At DHP Family, we take pride in our extensive capabilities while remaining close to the culture and ethics that have shaped the business. We are committed to delivering high-quality events and experiences across indoor and outdoor festivals, national tours, standalone shows and our venue estate throughout the United Kingdom We engage with our key stakeholders as outlined below: Our employees We have many skilled and experienced team members working for DHP, many of whom have built up significant experience in the industry. The recruitment and retention of staff remains key to the continued success of the Company. We engage with our employees as follows: • Remuneration is set at market levels, with team members rewarded through appropriate bonus structures. • We provide different forms of training to meet the needs of departments and individuals across the business. This includes the management training programme, which has now been running for a number of years and continues to support the development of managers across the Company. • We continue to hold regular senior management and team leader meetings to ensure departments are involved in significant business decisions. This is in addition to wider senior manager, team leader and venue manager meetings held during the year. • We have introduced a new “Crew Call” forum within one of our venues, creating a positive platform for employees from all departments to share ideas, contribute to improvements and have a meaningful voice in how the business is run. Our customers and suppliers We have worked with many of our suppliers for a number of years, enabling us to source equipment and stock at short notice when required. We continue to value strong supplier relationships and recognise the importance of paying suppliers on agreed terms. This is particularly important for smaller suppliers, where prompt payment supports their own cash flow and trading position. We also continue to work with local suppliers where possible, including in areas such as craft beer, where local sourcing supports both our customer offer and our wider supplier relationships. Our Community DHP Family remains committed to supporting community projects and charitable initiatives. A flagship example is the Beat the Streets Festival, which supports the Framework charity for the homeless. Since launch, the festival has provided substantial support and has helped make a lasting contribution to the local community. Through these initiatives and our ongoing partnership with Framework, we are proud to have raised over £600,000 for community causes since 2018. Since 2018, we have also organised and funded the Women in Music brand, designed to encourage more
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DHP FAMILY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
women to pursue careers in the music industry. These events create a platform to celebrate success stories, share experiences and address the challenges women face in the sector.
The Company also continues to support local community and sporting initiatives where appropriate. Our Planet DHP Family acknowledges its environmental responsibilities beyond compliance with legal and regulatory standards. We are committed to minimising our environmental impact and continuing to improve environmental performance as part of our business strategy and operating practices. During the year, we continued to monitor energy usage and tasked teams with identifying opportunities to reduce consumption where savings could be achieved. Within our festival operations, we continued sustainability initiatives including the use of HVO fuel for generators, locally sourced water, reusable cups, limiting single-use plastic and working with charity partners to reduce food wastage. A key part of our environmental commitment is that all of our electricity is sourced from renewable sources, supported by Renewable Energy Guarantees of Origin certificates.
This report was approved by the board on 11 June 2026 and signed on its behalf.
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DHP FAMILY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 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 are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' reports may differ from legislation in other jurisdictions.
The profit for the year, after taxation, amounted to £1,614,285 (2024 - £1,267,278).
The directors recommend no final dividend for the year ended 31 December 2025 (2024: £nil). During the year dividends of £500,000 (2024: £850,000) were paid.
The directors who served during the year were:
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DHP FAMILY LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
There are no future developments requiring disclosure.
Quantification and reporting methodology
We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol – Corporate Standard and have used the 2025 UK Government's Conversion Factors for Company Reporting. Measures taken to improve energy efficiency During 2025, we undertook works to improve insulation at our head office and upgraded heating controls to reduce overall energy consumption. We also continued the initiatives implemented in the previous year across our festival operations, including the use of HVO fuel for generators, locally sourced water, reusable cups, reduced reliance on single-use plastics, and collaboration with a national charity to minimise food waste.
Intensity measurement
The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per £1m of turnover: 8.30 for the year (2024: 7.56).
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DHP FAMILY LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The auditors, PKF Smith Cooper Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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DHP FAMILY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DHP FAMILY LIMITED
We have audited the financial statements of DHP Family Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, 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 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.
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.
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DHP FAMILY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DHP FAMILY LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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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DHP FAMILY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DHP FAMILY LIMITED (CONTINUED)
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:
Based on our understanding of the company and industry, we identify the key laws and regulations affecting the company. We identified that the principle risk of fraud or non-compliance with laws and regulations related to: • Management bias in respect of accounting estimates and judgements made; • Management override of control; • Posting of unusual journals or transactions We focussed on those areas that could give rise to a material misstatement in the Company financial statements. Our procedures included, but were not limited to: • Enquiry of management and those charged with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud; • Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud. • Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. • Performing audit work over the risk of management override controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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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DHP FAMILY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DHP FAMILY LIMITED (CONTINUED)
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
Statutory Auditors
2 Lace Market Square
NG1 1PB
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DHP FAMILY LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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DHP FAMILY LIMITED
REGISTERED NUMBER: 00259388
BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 14 to 28 form part of these financial statements.
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DHP FAMILY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies
DHP Family Limited is a private company limited by shares incorporated in England, United Kingdom. The address of the registered office is given in the company information page of these financial statements. The company's registration number is 00259388. The nature of the company’s operations and principal activities are given in the Directors' Report.
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The company is itself a subsidiary company and is exempt from the requirement to prepare group financial statements by virtue of section 400 of the Companies Act 2006. The financial statements therefore present information about the company as an individual undertaking and not about its group. The financial statements are prepared in Sterling which is the functional currency of the company and have been rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
In preparing the financial statements on a going concern basis, the Directors have paid due regard to relevant forecast financial information, including cash flows, and factored in sensitivities and uncertainties affecting the company. In the Directors' opinion, the company is a going concern for a minimum of twelve months from the date of the approval of the financial statements.
- the requirements of Section 7 Statement of Cash Flows; - the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); - the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of SJC 15 Limited as at 31 December 2025 and these financial statements may be obtained from 2 Lace Market Square, Nottingham, NG1 1PB.
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
The sale of wet and dry goods within the company's venues is recognised at the point of sale, when payment is made by the customer. Door receipts are recognised on entrance to the venue. Sales of tickets are usually recognised when the event; for which consideration has been received, actually occurs. Sponsorship income and hire of facilities income is recognised in line with the period to which it relates. Lease incentives are recognised over the lease term on a straight line basis.
Defined contribution pension plan
The company operates a defined contribution pension scheme and contributions to the scheme are recognised in the profit and loss account in the period in which they become payable. Current tax liabilities are measured at the amount expected to be paid, based on tax rates and laws that are enacted or substantively enacted at the balance sheet date. Deferred tax is accounted for using the balance sheet liability method and is calculated using rates of taxation enacted or substantively enacted at the balance sheet date which are expected to apply when the asset or liability is settled. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are only recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised.
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
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 provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life.
No depreciation is provided in the year of acquisition whilst a full year of depreciation is provided in the year of disposal.
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 profit or loss.
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 Statement of comprehensive income.
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable 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 payables or receivables, 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 financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured: - at fair value with changes recognised in the Profit and loss account if the shares are publicly traded or their fair value can otherwise be measured reliably; - at cost less impairment for all other investments. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1.Accounting policies (continued)
for measuring any impairment loss is the current effective interest rate determined under the contract.
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, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Profit and loss account
The company operates a defined contribution 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 £210,625 (2024: £284,627).
Contributions totalling £30,781 (2024: £20,962) were payable to the fund at the balance sheet date and are included in other creditors.
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DHP FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
An amount of £1,203,335 (2024: £1,084,667) is included in accruals in respect of preference share interest due to a director.
Included within creditors are directors' preference shares of £1,140,000 (2024: £2,767,583) following the redemption of 1,627,583 preference shares at par during the year. There is an amount of £882,298 (2024: £130,169) owing to directors within other creditors. During the year, the company accrued interest of £Nil (2024: £Nil) in respect of these loans.
The company's parent undertaking in Geo.Akins(Holdings)Limited. Geo.Akins(Holdings)Limited is a subsidiary of the ultimate parent undertaking SJC 15 Limited.
The largest group in which the results of the company are consolidated is SJC 15 Limited. Consolidated financial statements are available from 2 Lace Market Square, Nottingham, NG1 1PB. The company is ultimately controlled by GH Akins (Jnr) and SPD Akins by virtue of their joint shareholding in SJC 15 Limited. The company is exempt from preparing group accounts as the results are included within the consolidated financial statements of SJC 15 Limited.
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