REGISTERED NUMBER: 05846938 (England and Wales)

Report of the Director and

Unaudited Consolidated Financial Statements for the Year Ended 31 December 2025

for

The Ice Rink Company Limited

Page

Company Information

1

Report of the Director

2

Consolidated Income Statement

3

Consolidated Statement of Financial Position

4

Company Statement of Financial Position

6

Notes to the Consolidated Financial Statements

8

DIRECTOR:

M Petrouis

SECRETARY:

M Petrouis

REGISTERED OFFICE:

Muckley Corner House

Walsall Road

Lichfield

Staffordshire

WS14 0BG

REGISTERED NUMBER:

05846938 (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 property investments and ice rinks.

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

3,095,934

3,038,476

Administrative expenses

1,620,704

1,493,545

1,475,230

1,544,931

Other operating income

1,651,959

1,506,778

OPERATING PROFIT

4

3,127,189

3,051,709

Interest payable and similar expenses

150,377

200,286

PROFIT BEFORE TAXATION

2,976,812

2,851,423

Tax on profit

334,683

474,248

PROFIT FOR THE FINANCIAL YEAR

2,642,129

2,377,175

Profit attributable to:

Owners of the parent

2,642,129

2,377,175

FIXED ASSETS

Intangible assets

6

-

-

Tangible assets

7

6,555,028

6,772,537

Investments

8

-

-

6,555,028

6,772,537

CURRENT ASSETS

Stocks

2,807

2,807

Debtors

9

7,750,378

4,011,414

Cash at bank

62,027

165,621

7,815,212

4,179,842

CREDITORS

Amounts falling due within one year

10

7,024,381

5,852,280

NET CURRENT ASSETS/(LIABILITIES)

790,831

(1,672,438

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,345,859

5,100,099

CREDITORS

Amounts falling due after more than one year

11

(1,242,850

)

(1,475,964

)

PROVISIONS FOR LIABILITIES

(15,004

)

(17,239

)

NET ASSETS

6,088,005

3,606,896

CAPITAL AND RESERVES

Called up share capital

76

76

Capital redemption reserve

24

24

Retained earnings

6,087,905

3,606,796

SHAREHOLDERS' FUNDS

6,088,005

3,606,896

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

5,588,658

5,781,715

Investments

8

2,355,232

2,355,232

7,943,890

8,136,947

CURRENT ASSETS

Stocks

2,807

2,807

Debtors

9

7,029,121

3,885,659

Cash at bank

-

186,654

7,031,928

4,075,120

CREDITORS

Amounts falling due within one year

10

6,365,050

5,847,128

NET CURRENT ASSETS/(LIABILITIES)

666,878

(1,772,008

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,610,768

6,364,939

CREDITORS

Amounts falling due after more than one year

11

1,223,600

1,416,464

NET ASSETS

7,387,168

4,948,475

CAPITAL AND RESERVES

Called up share capital

76

76

Capital redemption reserve

24

24

Retained earnings

7,387,068

4,948,375

SHAREHOLDERS' FUNDS

7,387,168

4,948,475

Company's profit for the financial year

2,599,713

2,317,316

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

The Ice Rink Company 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.

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.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Management consider than certain accounting assumptions relating to revenue, stock and provisions are its critical accounting polices.

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 2012, is being amortised evenly over its estimated useful life of ten 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.

Land and buildings

-

Straight line over 50 years and Straight line over the life of the lease

Plant and machinery etc

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

217,509

214,781

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

1,196,863

AMORTISATION

At 1 January 2025

and 31 December 2025

1,196,863

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

and 31 December 2025

7,145,612

2,751,472

9,897,084

DEPRECIATION

At 1 January 2025

875,287

2,249,260

3,124,547

Charge for year

142,177

75,332

217,509

At 31 December 2025

1,017,464

2,324,592

3,342,056

NET BOOK VALUE

At 31 December 2025

6,128,148

426,880

6,555,028

At 31 December 2024

6,270,325

502,212

6,772,537

Company

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2025

and 31 December 2025

6,034,010

2,264,158

8,298,168

DEPRECIATION

At 1 January 2025

678,681

1,837,772

2,516,453

Charge for year

129,099

63,958

193,057

At 31 December 2025

807,780

1,901,730

2,709,510

NET BOOK VALUE

At 31 December 2025

5,226,230

362,428

5,588,658

At 31 December 2024

5,355,329

426,386

5,781,715

8.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 January 2025

and 31 December 2025

2,355,232

NET BOOK VALUE

At 31 December 2025

2,355,232

At 31 December 2024

2,355,232

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Silver Blades Ice Rink Company (Altrincham) Limited - 05949542

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG

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

766

561

Profit for the year

198,205

125,168

Silver Blades Ice Rink Company (Gillingham) Limited - 06709289

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG

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

1,047,780

1,047,936

Profit for the year

411,844

300,054

Silver Blades Ice Rink Company (Widnes) Limited - 08071581

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG

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

740

331

Profit for the year

246,409

223,326

Silver Blades Ice Rink Company (Solihull) Limited - 09581917

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG

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

484

76

Profit for the year

426,408

318,296

Blackburn Arena Limited - 05241247

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG

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

155

(41,276

)

Profit for the year

85,431

65,360

Silver Blades Ice Rink Company (Leeds) Limited - 09017963

Registered office: Muckley Corner House, Walsall Road, Lichfield, Staffs, WS14 0BG

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

189

68

Profit for the year

454,121

187,656

Details of the investments are as follows:All subsidiaries listed are exempt from the requirement of an audit of financial statements under section 479A of the Companies Act 2006 relating to subsidiary companies. All members of each of the companies noted above have agreed this by written resolution and The Ice rink Company Limited guarantees all outstanding liabilities to which each of its subsidiaries is subject to at the end of the financial year 30 June 2020 under section 479C of the Companies Act 2006.

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.25

31.12.24

31.12.25

31.12.24

£

£

£

£

Trade debtors

2,801,917

1,046,001

2,788,199

1,032,778

Other debtors

4,948,461

2,965,413

4,240,922

2,852,881

7,750,378

4,011,414

7,029,121

3,885,659

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.25

31.12.24

31.12.25

31.12.24

£

£

£

£

Bank loans and overdrafts

215,050

276,508

670,636

174,800

Hire purchase contracts

18,064

72,255

18,064

72,255

Trade creditors

286,431

261,944

25,358

25,402

Amounts owed to group undertakings

-

-

2,294,305

4,151,080

Taxation and social security

898,289

968,386

643,436

302,471

Other creditors

5,606,547

4,273,187

2,713,251

1,121,120

7,024,381

5,852,280

6,365,050

5,847,128

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group

Company

31.12.25

31.12.24

31.12.25

31.12.24

£

£

£

£

Bank loans

1,242,850

1,457,900

1,223,600

1,398,400

Hire purchase contracts

-

18,064

-

18,064

1,242,850

1,475,964

1,223,600

1,416,464

Amounts falling due in more than five years:

Group

Company

31.12.25

31.12.24

31.12.25

31.12.24

£

£

£

£

Repayable by instalments

Bank loans more 5 yr by instal

699,200

874,000

699,200

874,000

12.	SECURED DEBTS

The following secured debts are included within creditors:

Group

Company

31.12.25

31.12.24

31.12.25

31.12.24

£

£

£

£

Bank overdraft

-

-

495,836

-

Bank loans

1,457,900

1,734,408

1,398,400

1,573,200

1,457,900

1,734,408

1,894,236

1,573,200

The bank loans and overdraft are secured by a mortgage debenture including fixed and floating charges over all assets and undertakings, both present and future dated 19 October 2012.

13.	CONTINGENT LIABILITIES

The group has a cross guarantee in favour of Handelsbanken in respect of the group bank borrowings. At the balance sheet date the group net indebtedness to Handelsbanken was £2,057,003.

14.	RELATED PARTY DISCLOSURES

M Petrouis is a director of Nice Leisure Limited, PI Property Leisure Limited, PI (Lichfield) Limited and The Ice Rink Company Limited.

The balance at the year end and included in other debtors owed from Nice Leisure Limited was £3,625,000 (2024-£725,557 ), PI Property Leisure Limited £669,067 (2024 £283,877) and PI (Lichfield) Limited £20,000 (2024 £26,713). The movement in the year relates to funds loaned.