ZIP WORLD LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company is a subsidiary of ZWPV Limited (the "Group"). The Group is financed through bank and shareholder debt and at an operating level is cash generative. The Group has prepared detailed forecasts for the next 18-month period ended 31 March 2027 which show that it is expected to continue to be profitable at an EBITDA level, cash generative, and maintain compliance with debt covenants throughout the forecast period. Reductions in rider volumes were also modelled to assess the sensitivity of EBITDA to a trading downturn. The level of reduction that would be required to lead to a breach in covenant or insolvency of the Group is significant and is not considered to be feasible. The Group refinanced its bank debt in January 2025, reducing the RCF facility from £15m to £8m and agreeing a Capex facility of £5m, in place until June 2027. In addition, shareholder loan notes are held by ZWPV Midco Ltd, an indirect parent of the Group, and passed down via intercompany financing agreements. ZWPV Bidco Ltd, the newly incorporated parent of the Group, has provided a letter of support to the Group confirming that it will not call upon the intercompany financing during the going concern period, and that it will, if necessary, support the Group to pay debts as they fall due for a period of at least 12 months from the date of approval of these financial statements. The Group and Company therefore can remain within its committed lending facilities and meet its obligations as they fall due throughout the going concern period. The Group is currently conducting a strategic review, including a potential review of its debt structure. The Group is not obligated to refresh or update its debt facilities within the going concern period with the current loan notes backed by the letter of support. The Directors are mindful of the need to ensure any new facilities would contain terms that maintained the Group's ability to meet its liabilities as they fall due over the foreseeable future. The directors have therefore prepared the financial statements on a going concern basis.”

Group structure

1. ZIP WORLD LIMITED · parent
   1. Zip World Fforest LTD 100% · Adventure activities
   2. Zip World RAK Limited 100% · Dormant
   3. Bounce Below Limited 100% · Dormant

Significant events

• “During 2024 the Company took on a short term lease at Zip World Conwy to operate an indoor activity complex, café, and a camping pod facility, to capitalise on Summer trading. This lease increased rider volumes during 2024 and was then closed in February 2025.”
• “The early part of the year also saw significant capital spend continue to drive income over the coming years through the redevelopment of the shop and check-in area at Llechwedd, and the redevelopment of public areas at the Tyn Y Coed Hotel, opening in March 2024, to drive spend per head and position the business at the centre of its local community as well as being a destination for our travelling guests.”
• “The Company's accommodation offering was further enhanced by the introduction of two additional lodge units at the Betws y Coed site, the second part of a six-lodge development as a central pillar of the Company's accommodation strategy.”
• “In 2024 the business also became accredited as a B Corporation business at the first attempt, achieving an audit score of 96.”
• “In February 2025, new site opportunities have also continued to be secured, having opened a new, exciting, adventure location at the Arcelor Mittal Orbit at the Olympic Park, Stratford, London.”
• “On 20th January 2025, ZWPV Bidco Limited acquired a majority holding of shares of the Group. The new ultimate beneficial owner is The JCC 2003 Trust. This investment marks the next exciting stage of Zip World's growth. As part of the change in ownership the Group also refinanced its bank debt, reducing the RCF facility from £15m to £8m and agreeing a Capex facility of £5m, in place until June 2027, and repaid both the loan notes owed to the outgoing investors, Lloyds Development Capital, and the loan owed to The County Council of the City and County of Cardiff.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

12

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -5.1%

  £27,412,371 → £26,027,390

• Cash

  -82%

  £4,378,204 → £786,346

• Net assets

  +20.8%

  £24,154,625 → £29,170,184

• Employees

  +5%

  545 → 572

• Operating profit

  +40.9%

  £4,726,600 → £6,657,731

• Profit before tax

  +42.4%

  £4,729,571 → £6,734,635

• Wages

  +4.4%

  £6,650,586 → £6,940,514

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers