REGISTERED NUMBER: 08020974 (England and Wales)

Report of the Director and

Unaudited Consolidated Financial Statements for the Year Ended 31 December 2025

for

PI Property (Leisure) Limited

Page

Company Information

1

Report of the Director

2

Consolidated Income Statement

3

Consolidated Balance Sheet

4

Company Balance Sheet

6

Notes to the Consolidated Financial Statements

8

DIRECTOR:

M Petrouis

REGISTERED OFFICE:

Muckley Corner House

Walsall Road

Lichfield

Staffordshire

WS14 0BG

REGISTERED NUMBER:

08020974 (England and Wales)

ACCOUNTANT:

Groucott Moor Limited

Lombard House

Cross Keys

Lichfield

Staffordshire

WS13 6DN

The director presents his report with the financial statements of the company and the group for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the management of ice rinks and other leisure facilities.

DIRECTOR

M Petrouis held office during the whole of the period from 1 January 2025 to the date of this report.

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

ON BEHALF OF THE BOARD:

M Petrouis - Director

31 August 2026

TURNOVER

3,567,200

3,462,550

Administrative expenses

3,004,240

2,233,532

562,960

1,229,018

Other operating income

1,599,047

1,585,948

OPERATING PROFIT

4

2,162,007

2,814,966

Interest payable and similar expenses

17,355

15,142

PROFIT BEFORE TAXATION

2,144,652

2,799,824

Tax on profit

414,909

242,649

PROFIT FOR THE FINANCIAL YEAR

1,729,743

2,557,175

Profit attributable to:

Owners of the parent

1,729,743

2,557,175

FIXED ASSETS

Intangible assets

6

-

-

Tangible assets

7

4,143,128

3,314,024

Investments

8

-

-

4,143,128

3,314,024

CURRENT ASSETS

Debtors

9

11,106,873

9,205,625

Cash at bank and in hand

211,259

443,401

11,318,132

9,649,026

CREDITORS

Amounts falling due within one year

10

8,702,379

7,396,261

NET CURRENT ASSETS

2,615,753

2,252,765

TOTAL ASSETS LESS CURRENT LIABILITIES

6,758,881

5,566,789

CREDITORS

Amounts falling due after more than one year

11

-

37,651

NET ASSETS

6,758,881

5,529,138

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

6,758,880

5,529,137

SHAREHOLDERS' FUNDS

6,758,881

5,529,138

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

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

The financial statements were approved by the director and authorised for issue on 31 August 2026 and were signed by:

M Petrouis - Director

FIXED ASSETS

Intangible assets

6

-

-

Tangible assets

7

2,684,839

2,781,974

Investments

8

35,004

35,004

2,719,843

2,816,978

CURRENT ASSETS

Debtors

9

9,955,305

8,052,545

Cash at bank

25,641

432,293

9,980,946

8,484,838

CREDITORS

Amounts falling due within one year

10

5,186,395

4,923,140

NET CURRENT ASSETS

4,794,551

3,561,698

TOTAL ASSETS LESS CURRENT LIABILITIES

7,514,394

6,378,676

CREDITORS

Amounts falling due after more than one year

11

-

37,651

NET ASSETS

7,514,394

6,341,025

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

7,514,393

6,341,024

SHAREHOLDERS' FUNDS

7,514,394

6,341,025

Company's profit for the financial year

1,673,369

1,926,169

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the director and authorised for issue on 31 August 2026 and were signed by:

M Petrouis - Director

1.	STATUTORY INFORMATION

PI Property (Leisure) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.25

31.12.24

£

£

Depreciation - owned assets

232,995

157,040

5.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

6.	INTANGIBLE FIXED ASSETS

Group

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

264,972

AMORTISATION

At 1 January 2025

and 31 December 2025

264,972

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

Company

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

230,000

AMORTISATION

At 1 January 2025

and 31 December 2025

230,000

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

7.	TANGIBLE FIXED ASSETS

Group

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2025

2,938,422

1,462,508

4,400,930

Additions

-

1,062,099

1,062,099

At 31 December 2025

2,938,422

2,524,607

5,463,029

DEPRECIATION

At 1 January 2025

337,015

749,891

1,086,906

Charge for year

67,231

165,764

232,995

At 31 December 2025

404,246

915,655

1,319,901

NET BOOK VALUE

At 31 December 2025

2,534,176

1,608,952

4,143,128

At 31 December 2024

2,601,407

712,617

3,314,024

Company

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2025

and 31 December 2025

2,515,310

488,283

3,003,593

DEPRECIATION

At 1 January 2025

201,619

20,000

221,619

Charge for year

50,307

46,828

97,135

At 31 December 2025

251,926

66,828

318,754

NET BOOK VALUE

At 31 December 2025

2,263,384

421,455

2,684,839

At 31 December 2024

2,313,691

468,283

2,781,974

8.	FIXED ASSET INVESTMENTS

Group

Shares in

group

undertakings

£

COST

At 1 January 2025

and 31 December 2025

5,000

PROVISIONS

At 1 January 2025

and 31 December 2025

5,000

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

Company

Shares in

group

undertakings

£

COST

At 1 January 2025

and 31 December 2025

35,004

NET BOOK VALUE

At 31 December 2025

35,004

At 31 December 2024

35,004

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

Subsidiaries

Planet Ice (Milton Keynes) Limited

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG

Nature of business: Granting licences to operate Ice Rinks

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

371

751

Profit for the year

181,620

72,334

Planet Ice (Hemel Hempstead) Limited

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG

Nature of business: Granting licences to operate Ice Rinks

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

(11,943

)

(130,556

)

Profit for the year

118,613

214,192

Planet Ice (Skydome) Limited

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG

Nature of business: Granting licences to operate Ice Rinks

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

(338,888

)

(371,832

)

Profit for the year

32,944

29,393

Planet Ice (Peterborough) Limited

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG

Nature of business: Granting licences to operate Ice Rinks

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

(122,174

)

(161,822

)

Profit for the year

39,648

451,177

Planet Ice (Gosport) Limited

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG

Nature of business: Granting licences to operate Ice Rinks

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

795

671

Profit for the year

90,124

105,700

Planet Ice (Basingstoke) Limited

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG

Nature of business: Granting licences to operate Ice Rinks

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

(26,799

)

(9,349

)

Loss for the year

(17,450

)

(9,930

)

Planet Ice (Lichfield) Limited

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG

Nature of business: Granting licences to operate Ice Rinks

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

(37,504

)

(37,504

)

Loss for the year

-

(5,222

)

Planet Ice (Uttoxeter) Limited

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG

Nature of business: Granting licences to operate ice rinks

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

(126,587

)

(67,749

)

Loss for the year

(58,838

)

(48,757

)

Planet Ice (Bristol)

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS140BG

Nature of business: Granting licences to operate ice rinks

%

Class of shares:

holding

Ordinary

100.00

31.12.25

31.12.24

£

£

Aggregate capital and reserves

194

507

Profit for the year

364,687

412,117

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.25

31.12.24

31.12.25

31.12.24

£

£

£

£

Trade debtors

8,963

11,201

(589

)

2,400

Other debtors

11,097,910

9,194,424

9,955,894

8,050,145

11,106,873

9,205,625

9,955,305

8,052,545

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.25

31.12.24

31.12.25

31.12.24

£

£

£

£

Hire purchase contracts

37,651

56,477

37,651

56,477

Trade creditors

1,875,698

1,591,607

997,638

998,538

Amounts owed to group undertakings

-

-

1,088,540

922,318

Taxation and social security

654,798

589,010

405,890

332,767

Other creditors

6,134,232

5,159,167

2,656,676

2,613,040

8,702,379

7,396,261

5,186,395

4,923,140

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group

Company

31.12.25

31.12.24

31.12.25

31.12.24

£

£

£

£

Hire purchase contracts

-

37,651

-

37,651