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← Nice Time

2024-12-31-accounts

Company number 03197785 Registered Charity number 1060306

NICE TIME

(A COMPANY LIMITED BY GUARANTEE)

REPORT AND UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

NICE TIME

REPORT AND UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

CONTENTS

Page
Trustees' report 1
Independent examiner's report 5
Unaudited consolidated statement of financial activities 6
Unaudited consolidated balance sheet 7
Statement of cash flows and consolidated statement of cash flows 8
Notes to the unaudited financial statements 9

1

NICE TIME

TRUSTEES' REPORT

The trustees have pleasure in presenting their report together with the unaudited consolidated financial statements of the charity and its subsidiaries for the 33 weeks ended 31 Dec 2024. These are also prepared to meet the requirements for a directors' report and financial statements for Companies Act purposes.

The charity changed its financial year end from 12 May 2024 to 31 December 2024 resulting in a reporting period of 33 weeks ending on 31 December 2024. This change was undertaken when Ice Time CIC converted into a community investment company. As a result of this change in the reporting period, the comparative financial information for the year ended 12 May 2024 and related notes are not directly comparable to the current period.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the Charities Statement of Recommended Practice ("Charities SORP") (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland; FRS 102) issued in October 2019.

Public benefit

The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit 'Charities and Public Benefit'. This Trustees' report clearly sets out our charitable objects, current activities and how they benefit the public.

Objectives and activities

The charity was formed on 13 May 1996 with the primary object of ensuring that Bradford Ice Arena remained in operation for the benefit of young persons in the local community.

The purposes of the charity continue to be:

In shaping our objectives the trustees have considered the Charity Commission's guidance on public benefit, including the guidance on public benefit and fee charging. The ice arena relies on income from fees and charges to cover its operating costs. In setting the level of fees, charges and concessions, the trustees give careful consideration to the accessibility of the arena for families and those on low incomes.

The strategies employed to achieve the charity's aims and objectives are:

Within these aims, the charity, through its subsidiary endeavours to generate profits, which can be ploughed back into improving the venue.

Achievements and performance

The company has had reasonable period, though admission levels for general skating are down. It is thought that this is due to disruption in Bradford City Centre caused by pedestrianisation, the loss of car parks and increased parking charges. However, income from skating courses increased.

Financial review

Financial position

The whole of the group’s income is derived from the trading activities of its subsidiaries Ice Time C.I.C. which, trades as Bradford Ice Arena, and Bradford Arena Services Limited which manages the café and skate shop at the Arena.

The group's results for the 33 week period showed a surplus with reserves at the period end increasing by £19,050.

2

NICE TIME

TRUSTEES' REPORT (continued)

Investment powers and policies

The trustees, having regard to the liquidity requirements of operating the ice arena and to the reserves policy have operated a policy of keeping available funds in an interest bearing deposit account.

Reserves Policy

During recent years funds have been accumulated on deposit by the trading subsidiary in order to provide adequate working capital to enable the company to survive during the summer months when losses in excess of £60,000 can accrue. In the past the trustees had aimed to have a cushion in the region of £100,000 on deposit at the charity's year end. The experience of Covid 19 and volatility in the energy markets, resulting in utility costs more than doubling, has demonstrated that this is no longer adequate and that reserves of at least £500,000 are needed. It is also expected that reserves will be required in the near future to replace the refrigeration pipes as they are nearing the end of their expected life. Current reserves are £745,426 (2023 - £726,376).

Plans for future periods

When the charity’s subsidiary took over the running of the Ice Arena in 1996 it was in a poor state of repair. Admission numbers had declined due to the fact that other leisure venues provided a more exciting experience.

The trustees operate a policy of gradually improving the arena’s facilities so as to compete with the other leisure venues and thus maintain the business's viability.

Directors and trustees

The directors of the charitable company (the charity) are its Trustees for the purpose of charity law. The trustees and officers who served during the period are as follows:

Key management personnel

Trustees

B A Brown C Dacres N C Griffith D P A Hall J B Whitaker J P Whitaker

Company secretary

J B Whitaker

Operations director of Ice Time C.I.C.

A R Brown

Structure, governance and management

Governing Documents

Nice Time is a company, which is limited by guarantee and governed by its Memorandum and Articles of Association dated 19 June 2015. It is registered as a charity with the Charity Commission.

Appointment of trustees

Trustees are appointed by the members in accordance with the provisions contained in the Articles of Association.

Trustee training and induction

New trustees are briefed on their obligations under charity and company law, the memorandum and articles of association and on the Charity Commission Guidance on public benefit. Trustees attend external training events to facilitate the undertaking of their role, where appropriate.

3

NICE TIME

TRUSTEES' REPORT (continued)

Organisational structure

The board of trustees administers the charity and appoints directors to serve on the board of its trading subsidiaries through which all its charitable activities are carried out.

g , , y Operations Director to ensure smooth running of the Ice Arena. Overall responsibility for operational matters rests with A R Brown.

Day to day operational matters are dealt with by the Operational Director and a team of duty managers.

Pay policy for senior staff

The directors consider the board of directors, who are the Trust’s trustees, and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the Trust on a day to day basis. All directors give of their time freely and no director received remuneration in the period.

The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings.

Risk management

The trustees have a risk management strategy which comprises:

This work has identified that financial sustainability is the major financial risk for the subsidiary. Attention has also been focused on non-financial risks arising from child protection issues, fire, health and safety of employees and patrons and food hygiene. A key element of the management of financial risk is the retention of adequate working capital by the subsidiary company.

The trustees have reviewed the groups financial position and believe that the charity can continue to meet its liabilities as they fall due for at least twelve months from the approval of the financial statements.

The trustees are satisfied that systems and procedures are in use to adequately manage the risks to which the charity and its subsidiary are exposed.

Reference and administrative details

Charity number 1060306 Company number 03197785

Principal / Registered office

19 Little Horton Lane, Bradford, BD5 0AD

Advisors

Independent Kerry Gallager FCA DChA RSM UK Tax and Accounting Limited, Davidson House, Forbury Examiner Square, Reading, Berkshire, RG1 3EU Bankers Virgin Money UK PLC 14 Broadway, Bradford BD1 1EZ Solicitors Gordons LLP 1 New Augustus Street, Bradford BD1 5LL Wrigleys Solicitors LLP 19 Cookridge Street, Leeds LS2 3AG

4

NICE TIME

TRUSTEES' REPORT (continued)

Trustees responsibilities in relation to the financial statements

The trustees (who are also directors of Nice Time for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The charitable company has taken out qualifying third party indemnity insurance for the benefit of its trustees.

In preparing this report advantage has been taken of the small companies exemption within Part 15 of the Companies

Act 2006.

Approved by the Board of Directors and signed on behalf of the Board.

J B WHITAKER - Trustee Bradford Ice Arena 19 Little Horton Lane Bradford BD5 0AD

………………………

11/09/25

5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

OF

NICE TIME

I report to the trustees on my examination of the financial statements of Nice Time (‘the group’) for the period ended 31 December 2024, which are set out on pages 6 to 19.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the group are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:

I have no other concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: Kerry Gallagher

Name: Kerry Gallager FCA DChA

ON BEHALF OF RSM UK TAX AND ACCOUNTING LIMITED Chartered Accountants Davidson House, Forbury Square Reading, Berkshire, RG1 3EU

15/09/25 Date ………………………

6

NICE TIME

UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

for the period from 13 May 2024 to 31 December 2024

Note
Income From:
Charitable activities
Donations
17
Operation of ice rink
17
Other trading activities
Commercial trading operations
17
Other income
Grants
17
Gift aid received from subsidiaries
17
Investment income
17
Total income
17
Expenditure On:
Costs of raising funds
Commercial trading operations
18
Charitable activities
Operation of ice rink
18
Total expenditure
18
Net income
Reconciliation of funds
Net movement in funds
Revaluation of investment in subsidiaries
Total funds brought forward
Total funds carried forward		 Group
Total
unrestricted
funds
Total
unrestricted
funds
period
year
ended
ended
31 Dec 2024 12 May 2024
£
£
5
-
410,151
705,927
90,715
158,954
1,982
3,113
9,895
2,495
512,748
870,489
61,050
114,230
432,648
700,738
493,698
814,968
19,050
55,521
19,050
55,521
-
-
726,376
670,855
745,426
726,376		 Charity
Total
unrestricted
funds
Total
unrestricted
funds
period
year
ended
ended
31 Dec 2024 12 May 2024
£
£
5
-
-
-
-
-
-
-
21,690
48,884
9,359
1,710
31,054
50,594
-
-
-
-
-
-
31,054
50,594
31,054
50,594
(12,004)
4,927
726,376
670,855
745,426
726,376

The charity has no restricted funds.

The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.

The notes on pages 9 to 19 form part of these unaudited financial statements These unaudited financial statements have been subject to an independent examination. See report on page 5.

7

NICE TIME Company number 03197785 Registered Charity number 1060306

UNAUDITED CONSOLIDATED BALANCE SHEET - 31 Dec 2024

Group Charity Charity
Note 31 Dec 2024 12 May 2024 12 May 2024 31 Dec 2024 12 May 2024
£ £ £ £
FIXED ASSETS
Tangible assets 8 155,850 168,429 - -
Investments in subsidiaries 11 - - 378,588 390,592
155,850 168,429 378,588 390,592
CURRENT ASSETS
Debtors 9 59,959 38,004 - -
Cash at bank and in hand 708,144 703,583 504,169 448,981
CREDITORS: AMOUNTS FALLING DUE 768,103 741,587 504,169 448,981
WITHIN ONE YEAR 10 (149,337) (152,114) (137,331) (113,197)
NET CURRENT ASSETS 618,766 589,473 366,838 335,784
TOTAL ASSETS LESS CURRENT LIABILITIES 774,616 757,902 745,426 726,376
PROVISIONS FOR LIABILITIES 12 (29,190) (31,526) - -
Net assets 745,426 726,376 745,426 726,376
FUNDS
Unrestricted income funds
General purpose fund 13 745,426 726,376 745,426 726,376
Total charity funds 745,426 726,376 745,426 726,376

The trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006, and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

For the period in question, the group was entitled to exemption from an audit under section 477 of the Companies Act 2006. No notice has been deposited under section 476 of the Act in relation to the accounts for the financial period. The trustees acknowledge their responsibilities for:

11/09/25 These accounts were approved by the board of trustees and authorised for issue on ………………………. They are signed on its behalf by:

J B WHITAKER

Trustee

The notes on pages 9 to 19 form part of these unaudited financial statements These unaudited financial statements have been subject to an independent examination. See report on page 5.

8

NICE TIME Company number 03197785 Registered Charity number 1060306

STATEMENT OF CASH FLOWS AND CONSOLIDATED STATEMENT OF CASH FLOWS

for the period from 13 May 2024 to 31 December 2024

Note
Cash used in operating activities
15
Cash flows from investing activities
Interest income
Gift aid
Donations
Purchase of tangible fixed assets
Proceeds on sale of tangible fixed assets
Cash (used in) / provided by investing activities
Increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the period
Total cash and cash equivalents at the end of the period		 Group
period
year
ended
ended
31 Dec 2024 12 May 2024
£
£
5,790
78,177
9,895
2,495
-
-
5
-
(11,129)
(16,913)
-
2,862
(1,229)
(11,556)
4,561
66,621
703,583
636,962
708,144
703,583		 Charity
period
year
ended
ended
31 Dec 2024 12 May 2024
£
£
24,133
(18,142)
9,360
1,710
21,690
48,884
5
-
-
-
-
-
31,055
50,594
55,188
32,452
448,981
416,529
504,169
448,981

The notes on pages 9 to 19 form part of these unaudited financial statements These unaudited financial statements have been subject to an independent examination. See report on page 5.

9

NICE TIME

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.

Basis of preparing the financial statements

The financial statements have been prepared in accordance with the Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Reporting period

The charity changed its financial year end from 12 May 2024 to 31 December 2024 resulting in a reporting period of 33 weeks ending on 31 December 2024. This change was undertaken when Ice Time CIC converted into a community investment company. As a result of this change in the reporting period, the comparative financial information for the year ended 12 May 2024 and related notes are not directly comparable to the current period.

Going concern

The trustees have reviewed the groups financial position and believe that the charity can continue to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements. This is based on group cash balances of £786,568 as at 02 September 2025. The financial statements have, therefore, been prepared on a going concern basis.

Group financial statements

The financial statements consolidate the results of the charity and its wholly owned subsidiaries on a line-by-line basis. A separate Statement of Financial Activities, and income and expenditure account, for the charity itself are not presented because the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006 and paragraph 397 of the SORP.

Income

All incoming resources are accounted for when the charity has entitlement to the funds, it is probable that the income will be received and the amount is measurable with sufficient reliability. Where income is received in advance it is deferred until the charity is entitled to that income.

Government grants

The small business grant for rates applicable to the leisure and hospitality industry is recognised on an accruals basis.

Donations

Donations are recognised on receipt.

Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Expenditure

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

10

NICE TIME

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

Expenditure (continued)

All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

Basic financial instruments

The charity accounts for basic financial instruments on initial recognition at the amount receivable or payable including any related transaction costs. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.

Tangible fixed assets

Tangible fixed assets are stated at cost. Depreciation is provided on cost in equal annual instalments over the estimated lives of the assets. The rates of depreciation are as follows:-

Equipment, fixtures and tools

8.33% to 25% per annum

Investments

Investments are included at net asset value as disclosed in the subsidiary company's accounts.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the group’s taxable profits and its results as stated in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

Leases

Operating lease commitments are provided for in the balance sheet at the time the rental payments fall due. Such rental costs are charged to the profit and loss account as incurred.

Fund accounting

Unrestricted funds are available to use to further any of the purposes of the charity.

2. LEGAL STATUS OF THE CHARITY

The company is a private company limited by guarantee and has no share capital and is registered and incorporated in England and Wales. In the event of the company being wound up or dissolved the members are required to contribute an amount not exceeding £10.00.

3. FINANCIAL PERFORMANCE OF THE CHARITY

The consolidated statement of financial activities includes the results of the charity's wholly owned subsidiaries, Ice Time C.I.C. which operates Bradford Ice Arena and Bradford Arena Services Limited which operate the café and skate shop at the venue.

4.
Salaries and wages
Social security costs
Pension costs
Staff numbers
Average number of staff employed during the period
EMPLOYEES		 31 Dec 2024
£
159,212
5,320
2,623
167,155
25		 12 May 2024
£
256,921
7,842
14,873
279,636
25

The key management personnel of the group comprises the trustees, the company secretary and operations director of Ice Time C.I.C., a wholly owned subsidiary of Nice Time. The total employee benefits of key management personnel of the group (including pension costs) were £33,024 (2024 - £61,013)

11

NICE TIME

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

5. DIRECTORS' REMUNERATION

The trustees received no emoluments or expenses for acting as trustees or for acting as directors of the trading subsidiary (May 2024 - £Nil)

6. NET INCOMING RESOURCES FOR THE PERIOD 31 Dec 2024 12 May 2024 31 Dec 2024 12 May 2024
£ £
This is stated after charging:
Rent paid - operating lease for Bradford Ice Arena 22,019 34,480
Depreciation of tangible fixed assets 23,708 11,198
Independent Examiner's remuneration 4,102 3,000

7. CORPORATION TAX

As a charity Nice Time is exempt from tax on income falling within Part II of the Corporation Tax Act 2010 and on gains falling within section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives. No corporation tax charge has arisen in the Charity.

8.
TANGIBLE ASSETS - Group
Cost
At 13 May 2024
Additions
Disposals
At 31 Dec 2024
Accumulated depreciation
At 13 May 2024
Charge in the period
Disposals
At 31 Dec 2024
Net book value
At 31 Dec 2024
At 12 May 2024
9.
DEBTORS
Trade debtors
Other debtors
Prepayments and accrued income		 Group
31 Dec 2024 12 May 2024
£
£
5,351
6,031
445
3,780
54,163
28,193
59,959
38,004		 Equipment,
Fixtures
& Tools
£
574,963
11,129
(146,928)
439,164
406,534
23,708
(146,928)
283,314
155,850
168,429
Charity
31 Dec 2024 12 May 2024
£
£
-
-
-
-
-
-
-
-

12

NICE TIME

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

10.
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
Trade creditors
Amounts owed to subsidiaries (note 19)
Taxation and social security
Other creditors
Accruals and deferred income		 Group
31 Dec 2024 12 May 2024
£
£
81,533
65,951
-
-
16,414
2,263
7,720
5,983
43,670
77,917
149,337
152,114		 Charity
31 Dec 2024 12 May 2024
£
£
-
-
137,331
113,197
-
-
-
-
-
-
137,331
113,197
Deferred income at start of period
Amounts deferred during the period
Amounts released from previous periods		 Group
31 Dec 2024 12 May 2024
£
£
18,356
10,212
17,682
15,073
(15,590)
(6,929)
20,448
18,356		 Charity
31 Dec 2024 12 May 2024
£
£
-
-
-
-
-
-
-
-
11.
INVESTMENTS IN SUBSIDIARIES
UK subsidiary
undertakings
£
Valuation at 13 May 2024
390,592
Unrealised gain/(loss) on investments
(12,004)
Valuation at 31 Dec 2024
378,588

The charity has one wholly owned dormant subsidiary registered in England and Wales at 19 Little Horton Lane, Bradford BD5 0AD (May 2024 - 1):

Bradford Ice Arena Limited (Reg No 03208812). At 31 Dec 2024 and 12 May 2024 it had ordinary share capital of £2 and no reserves. Amounts due to the subsidiary are set out at note 19.

It also has two wholly owned trading subsidiaries (May 2024 - 2), both of which are registered in England and Wales at 19 Little Horton Lane, Bradford BD5 0AD

Ice Time C.I.C. (Reg No 03196761) which carries on the business of Ice Rink Operator.

Bradford Arena Services Limited (Reg No 03209987) which operates the café and skate shop at Bradford Ice Rink.

Amounts due to the subsidiaries are set out at note 19.

13

NICE TIME

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

11. INVESTMENTS IN SUBSIDIARIES (continued)

The following information regarding Ice Time C.I.C. which is required by the FRS 102 SORP is as follows:

Profit and loss account
Turnover
Cost of sales
Gross profit
Distribution costs
Administrative expenses
Other income
Operating profit
Other interest receivable and similar income
Interest payable and similar charges
Profit on ordinary activities before taxation
Tax on profit on ordinary activities
Profit on ordinary activities after taxation/
profit for the financial period
Aggregate amount of capital and reserves brought forward
Profit for the period
Gift aid payment to parent company
Aggregate amount of capital and reserves carried forward		 31 Dec 2024
£
423,059
(378,434)
44,625
(15,451)
(38,763)
1,982
(7,607)
536
-
(7,071)
2,336
(4,735)
390,588
(4,735)
(7,269)
(12,004)
378,584		 12 May 2024
£
725,554
(616,777)
108,777
(26,975)
(56,935)
3,113
27,980
787
(51)
28,716
(1,285)
27,431
385,661
27,431
(22,504)
4,927
390,588

14

NICE TIME

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

11. INVESTMENTS IN SUBSIDIARIES (continued)

The following information regarding Bradford Arena Services Limited which is required by the FRS 102 SORP is as follows:

==> picture [512 x 347] intentionally omitted <==

----- Start of picture text -----
||||| |---|---|---|---| |Profit and loss account|31 Dec 2024|12 May 2024| |£|£| |Turnover|77,807|139,325| |Cost of sales|(63,386)|(112,945)| |Gross profit|14,421|26,380| |14,421|26,380| |Aggregate amount of capital and reserves brought forward|2|2| |Profit for the period|14,421|26,380| |Gift aid payment to parent company|(14,421)|(26,380)| |-|-| |Aggregate amount of capital and reserves carried forward|2|2| |12.|PROVISIONS FOR LIABILITIES|31 Dec 2024|12 May 2024| |£|£| |Deferred taxation balance at 13 May 2024|31,526|30,241| |Amounts transferred from profit and loss account in the period (note 18)|(2,336)|1,285| |Deferred taxation balance at 31 Dec 2024|29,190|31,526|

----- End of picture text -----

Provision for deferred taxation has been made in these financial statements as above. The amounts provided and unprovided are as follows: -

==> picture [510 x 70] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |31 Dec 2024|12 May 2024| |Amount|Amount|Amount|Amount| |provided|unprovided|provided|unprovided| |£|£|£|£| |Capital allowances in excess of depreciation|29,190|-|31,526|-|

----- End of picture text -----

15

NICE TIME

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

13. MOVEMENT IN GENERAL UNRESTRICTED FUNDS

CURRENT PERIOD
CONSOLIDATED
General purpose fund
COMPANY
General purpose fund
PRIOR YEAR
CONSOLIDATED
General purpose fund
COMPANY
General purpose fund		 At
12 May 2024
£
726,376
At
12 May 2024
£
726,376
At
14 May 2023
£
670,855
At
14 May 2023
£
670,855		 Incoming
Resources
£
512,748
Incoming
Resources
£
19,050
Incoming
Resources
£
870,489
Incoming
Resources
£
55,521		 Outgoing
Resources
£
(493,698)
Outgoing
Resources
£
-
Outgoing
Resources
£
(814,968)
Outgoing
Resources
£
-		 At
31 Dec 2024
£
745,426
At
31 Dec 2024
£
745,426
At
12 May 2024
£
726,376
At
12 May 2024
£
726,376

14. OPERATING LEASES

The group pays rent for the use of Bradford Ice Arena under a ten year lease which was renewed on 24 May 2018 and is committed to pay £35,500 plus Value Added Tax within one year, £79,875 plus Value Added Tax between 2-5 years .

16

NICE TIME

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

15.
RECONCILIATION OF NET MOVEMENT IN FUNDS TO
NET CASH FLOW FROM OPERATING ACTIVITIES
Net movement in funds
Add back depreciation charge
Deduct profit on sale of fixed assets
Deduct donations
Deduct interest income shown in investing activities
Decrease / (Increase) in trade debtors
Decrease / (increase) in other debtors
(Increase) / decrease in prepayment and accrued income
Increase / (decrease) in trade creditors
Increase / (decrease) in amount owed to subsidiaries
Increase / (decrease) in taxation and social security
Increase in other creditors
(Decrease) / increase in accruals and deferred income
(Decrease) / Increase in provision for deferred tax
Net cash provided by/(used in) operating activities
16.
ANALYSIS OF CHANGES IN NET FUNDS
Cash and cash equivalents
Cash		 Group
31 Dec 2024 12 May 2024
£
£
19,050
55,521
23,708
11,198
-
(500)
(5)
-
(9,895)
(2,495)
680
(2,571)
3,335
(2,464)
(25,970)
(3,985)
15,582
(16,214)
-
-
14,151
318
1,737
2,106
(34,247)
35,978
(2,336)
1,285
5,790
78,177
At 13
Cash
12 May 2024
Inflows
£
£
703,583
66,621		 Charity
31 Dec 2024 12 May 2024
£
£
9,364
1,710
-
-
-
-
(5)
-
(9,360)
(1,710)
-
-
-
1,193
-
-
-
-
24,134
(19,335)
-
-
-
-
-
-
-
-
24,133
(18,142)
Cash
At 31
Outflows
31 Dec 2024
£
£
-
708,144

17

NICE TIME

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

17. INCOME

INCOME
Donations and legacies
Income from commercial trading activities
Cloak room
Catering
Skate shop
Rent from skating professionals
Investment income
Interest
Income from charitable activities - operation of ice rink
Hockey, speed, synchro and figure skating clubs
Skate hire
Admissions - general sessions
Admissions - courses
Admissions - patch ice
Other income
Small business grant
Total income		 31 Dec 2024
£
£
5
877
55,608
22,199
12,031
90,715
9,895
49,038
62,424
226,263
30,327
42,099
410,151
1,982
1,982
512,748		 12 May 2024
£
£
-
1,958
101,213
38,112
17,671
158,954
2,495
65,967
114,336
390,216
76,869
58,539
705,927
3,113
3,113
870,489

18

NICE TIME

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

18. EXPENDITURE

Costs of raising funds
Commercial trading operations
Trading expenditure
Catering - purchases
Catering - staff costs
Skate shop - purchases
Taxation
Expenditure on Charitable Activities
Direct
Purchases
Premises costs
General staff costs
Repairs and renewals
Entertainers fees
Equipment hire
Licence fees
Support costs
Support staff costs
Advertising
Security
Insurance
Cleaning materials
Travel
Uniforms
Office expenses
Legal expenses
Penalty
Bank charges
Depreciation
Grants received
(Profit) on disposal of fixed assets
Governance costs
Independent Examiner's remuneration
Total expenditure		 31 Dec 2024
£
£
30,471
13,642
19,273
63,386
(2,336)
`
61,050
4,933
161,322
136,778
19,414
420
6,968
3,203
333,038
16,735
4,871
-
22,401
3,553
65
-
5,833
13,400
-
5,226
23,708
(284)
-
95,508
4,102
432,648
493,698		 12 May 2024

£
£
57,731
20,792
34,422
112,945
1,285
114,230
7,017
280,648
226,928
60,817
-
1,008
4,267
580,685
19,855
7,670
22
33,371
6,397
23
1,303
14,767
9,300
51
14,040
11,198
(444)
(500)
117,053
3,000
700,738
814,968

19

NICE TIME

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

for the period from 13 May 2024 to 31 December 2024

19. RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS
Amounts due to subsidiaries
Ice Time C.I.C.
Bradford Ice Arena Limited
Bradford Arena Services Limited		 31 Dec 2024
£
133,128
2
4,201
137,331		 12 May 2024
£
109,573
2
3,622
113,197