REGISTERED NUMBER: 01729327 (England and Wales)

BLACKPOOL TOURISM LIMITED

PREVIOUSLY KNOWN AS

BLACKPOOL OPERATING COMPANY LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Councillor M P Smith

Mr R Bell OBE JP

Councillor A Cooper

Councillor J Farrell

Mr R Quinn

Mr P Taylor

SECRETARIES:

Mrs L Hurst

Mrs A Kerr

REGISTERED OFFICE:

Number One Bickerstaffe Square

Talbot Road

Blackpool

Lancashire

FY1 3AH

REGISTERED NUMBER:

01729327 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

Statutory Auditor, Chartered Accountants

Sidings House, Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

FIXED ASSETS

Tangible assets

4

371,152

486,362

CURRENT ASSETS

Stocks

122,423

141,520

Debtors

5

2,407,670

905,456

Cash at bank and in hand

320,771

1,593,268

2,850,864

2,640,244

CREDITORS

Amounts falling due within one year

6

337,997

469,964

NET CURRENT ASSETS

2,512,867

2,170,280

TOTAL ASSETS LESS CURRENT LIABILITIES

2,884,019

2,656,642

PROVISIONS FOR LIABILITIES

7

(80,293

)

(87,931

)

PENSION ASSET

10

405,000

390,000

NET ASSETS

3,208,726

2,958,711

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

8

3,208,724

2,958,709

SHAREHOLDERS' FUNDS

3,208,726

2,958,711

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2025 and were signed on its behalf by:

Councillor J Farrell - Director

1.	STATUTORY INFORMATION

Blackpool Tourism 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 Company 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.

The financial statements are presented in sterling which is the functional currency of the Company, rounded to the nearest £1.

Going Concern

The Financial Statements have been prepared on a going concern basis. The directors have assessed the Company's circumstances and concluded that it is appropriate to continue adopting this basis of preparation.

The directors have prepared detailed financial projections and assessed the Company's financial performance. These projections indicate that the Company is currently in a strong financial position and performing well.

The directors confirm that they have a reasonable expectation that the Company will continue in operational existence for the foreseeable future, defined as at least twelve months from the date of approval of these financial statements.

Significant judgements and estimates

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, where the revision affects only that period, or in the period of the revisions and future periods where the revision affects both current and future periods.

Key estimates have been made as follows:

Tangible fixed assets

The annual depreciation charge is sensitive to changes in estimated useful economic lives and residual values of the assets. These are reviewed regularly to ensure that appropriate charges are made for depreciation.

Stock

Current working practices ensure that adequate provision is made for obsolete and slow moving stock.

The following principal accounting policies have been applied consistently throughout the period:

Turnover

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

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

10% - 33% on cost

Fixtures and fittings

-

10% - 33% on cost

Motor vehicles

-

Straight line over 3 years

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 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.

Pension costs and other post-retirement benefits

Defined contributions plans and other post-retirement benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The amounts charged to the profit and loss account represent the contributions payable to the scheme in respect of the accounting period.

Defined benefit plans

The company also operates a pension scheme to certain employees providing benefits based on final pensionable pay. The assets of the scheme are held separately from those of the group, with the XPS Pensions.

A defined benefit plan is a post-employment benefit plan other than a defined contribution plan. The entity's net obligation in respect of the defined benefit plan is calculated by estimating the amount of future benefit that employees have earned in return for their service in current and prior periods, that benefit is discounted to determine its present value. The fair value of the plan assets is deducted. The entity determines the net interest expense (income) on the net defined benefit liability (asset) for the period by applying the discount rate as determined at the beginning of the annual period to the net defined benefit liability (asset) taking account of changes arising as a result of contributions and benefit payments.

The discount rate is the yield at the balance sheet date on AA credit rated bonds denominated in the currency of, and having maturity dates approximating to the terms of the entity's obligations. A valuation is performed annual by using the projected unit credit method. The entity recognises net defined benefit plan assets to the extent that it is able to recover the surplus through reduced contributions in the future or through refunds from the plan.

Changes in the net defined benefit liability arising from employee service rendered during the period, net interest and net defined benefit liability, and the cost of plan introductions, benefit changes, curtailments and settlements during the period are recognised in profit or loss.

Remeasurement of the net defined benefit liability/asset is recognised in other comprehensive income in the period in which it occurs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 121 (2024 - 109 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

1,257,948

4,069,593

1,592,074

31,876

6,951,491

Additions

-

1,421

18,402

-

19,823

At 31 March 2025

1,257,948

4,071,014

1,610,476

31,876

6,971,314

DEPRECIATION

At 1 April 2024

1,064,699

3,849,734

1,518,821

31,875

6,465,129

Charge for year

(28,448

)

130,251

33,230

-

135,033

At 31 March 2025

1,036,251

3,979,985

1,552,051

31,875

6,600,162

NET BOOK VALUE

At 31 March 2025

221,697

91,029

58,425

1

371,152

At 31 March 2024

193,249

219,859

73,253

1

486,362

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

11,306

5,304

Amounts owed by group undertakings

2,138,699

816,614

Other debtors

69,980

42,618

VAT

6,661

-

Prepayments

181,024

40,920

2,407,670

905,456

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

108,723

72,055

Social security and other taxes

34,287

42,146

VAT

-

84,312

Accrued expenses

78,176

116,743

Deferred income

116,811

154,708

337,997

469,964

7.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

80,293

87,931

Deferred

tax

£

Balance at 1 April 2024

87,931

Credit to Income Statement during year

(11,388

)

Charge to OCI

3,750

Balance at 31 March 2025

80,293

Deferred tax arises on the accelerated capital allowances charged at the substantively enacted corporation tax rate.

8.

RESERVES

Retained

earnings

£

At 1 April 2024

2,958,709

Profit for the year

1,638,765

Dividends

(1,400,000

)

Remeasurement of pension schem

e assets

11,250

At 31 March 2025

3,208,724

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kelvin Fitton BA FCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

10.	EMPLOYEE BENEFIT OBLIGATIONS

Benefits paid to members of the defined benefit pension scheme during the period amounted to £9,000 (2024: £9,000).

The defined benefit pension scheme obligation at the Balance Sheet date amounted to £1,147,000 (2024: £1,156,000).

Fair value of the assets held in the defined benefit pension scheme at the Balance Sheet amount to £1,552,000 (2024: £1,546,000).

Return on plan assets during the period recognised in the Statement of Other Comprehensive Income amounted to £15,000 (2024: £113,000).

At the date of publication the tri-annual valuation due to 5 April 2025 remains uncompleted by XPS Pensions, therefore the obligations and assets of the scheme are based on the latest valuation dated 5 April 2022.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13.	POST BALANCE SHEET EVENTS

On 1 August 2025, Blackpool Tourism Limited entered into a significant operating agreement with Blackpool Council to become the operator of Blackpool Tower. In addition, the company entered into two franchise agreements with Merlin Entertainments (Dungeons) Limited and Merlin Attractions Operations Limited on 31 July 2025, in respect of the operation of Blackpool Tower Dungeons and Madame Tussauds Blackpool, respectively.

These agreements represent non-adjusting post balance sheet events under FRS 102 Section 32 Events after the End of the Reporting Period, as they relate to conditions that arose after the reporting date. As such, no adjustment has been made to the financial statements as at 31 March 2025.

The agreements are expected to have a significant impact on the future operations and financial performance of the company.

14.	ULTIMATE CONTROLLING PARTY

The ultimate parent and controlling entity is Blackpool Council.

Blackpool Council heads the largest group for which the results of Blackpool Operating Company Limited are consolidated. Copies of its financial statements are available to the public from the Chief Financial Officer at Number One, Bickerstaffe Square, Talbot Road, Blackpool, Lancashire, FY1 3AH.