IRIS Accounts Production v24.2.0.383 02686607 Board of Directors 1.11.22 31.10.23 31.10.23 sale of caravans and rental of caravan sites. true false true true false false true false Ordinary 1.00000 Ordinary A 1.00000 Deferred ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh026866072022-10-31026866072023-10-31026866072022-11-012023-10-31026866072021-10-31026866072021-11-012022-10-31026866072022-10-3102686607ns15:EnglandWales2022-11-012023-10-3102686607ns14:PoundSterling2022-11-012023-10-3102686607ns10:Director12022-11-012023-10-3102686607ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3102686607ns10:FRS1022022-11-012023-10-3102686607ns10:Audited2022-11-012023-10-3102686607ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-11-012023-10-3102686607ns10:LargeMedium-sizedCompaniesRegimeForAccounts2022-11-012023-10-3102686607ns10:FullAccounts2022-11-012023-10-3102686607ns10:OrdinaryShareClass12022-11-012023-10-3102686607ns10:OrdinaryShareClass22022-11-012023-10-3102686607ns10:OrdinaryShareClass32022-11-012023-10-3102686607ns10:Director22022-11-012023-10-3102686607ns10:RegisteredOffice2022-11-012023-10-3102686607ns5:CurrentFinancialInstruments2023-10-3102686607ns5:CurrentFinancialInstruments2022-10-3102686607ns5:ShareCapital2023-10-3102686607ns5:ShareCapital2022-10-3102686607ns5:SharePremium2023-10-3102686607ns5:SharePremium2022-10-3102686607ns5:RetainedEarningsAccumulatedLosses2023-10-3102686607ns5:RetainedEarningsAccumulatedLosses2022-10-3102686607ns5:ShareCapital2021-10-3102686607ns5:RetainedEarningsAccumulatedLosses2021-10-3102686607ns5:SharePremium2021-10-3102686607ns5:RevaluationReserve2021-10-3102686607ns5:RetainedEarningsAccumulatedLosses2021-11-012022-10-3102686607ns5:RevaluationReserve2021-11-012022-10-3102686607ns5:RevaluationReserve2022-10-3102686607ns5:RetainedEarningsAccumulatedLosses2022-11-012023-10-3102686607ns5:RevaluationReserve2022-11-012023-10-3102686607ns5:RevaluationReserve2023-10-310268660712022-11-012023-10-310268660712021-11-012022-10-3102686607ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-11-012023-10-3102686607ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2021-11-012022-10-3102686607ns5:OwnedAssets2022-11-012023-10-3102686607ns5:OwnedAssets2021-11-012022-10-3102686607ns10:OrdinaryShareClass12021-11-012022-10-3102686607ns5:LandBuildings2022-10-3102686607ns5:LandBuildings2023-10-3102686607ns5:LandBuildings2022-10-3102686607ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3102686607ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3102686607ns10:OrdinaryShareClass12023-10-3102686607ns10:OrdinaryShareClass22023-10-3102686607ns10:OrdinaryShareClass32023-10-3102686607ns5:RetainedEarningsAccumulatedLosses2022-10-3102686607ns5:SharePremium2022-10-310268660712022-11-012023-10-31
REGISTERED NUMBER: 02686607 (England and Wales)














Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 October 2023

for

SAM HAGAN LEISURE (UK) LIMITED

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


SAM HAGAN LEISURE (UK) LIMITED

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: S Hagan
D Hagan



REGISTERED OFFICE: 7 Almansa Way
Lymington
Hampshire
S041 9PZ



REGISTERED NUMBER: 02686607 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Malachy McGrady



AUDITORS: M.B.Mc Grady & Co
Chartered Accountants
Statutory Auditors
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Strategic Report
FOR THE YEAR ENDED 31 OCTOBER 2023


The directors present their strategic report for the year ended 31 October 2023.

ON BEHALF OF THE BOARD:





S Hagan - Director


27 August 2024

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Report of the Directors
FOR THE YEAR ENDED 31 OCTOBER 2023


The directors present their report with the financial statements of the company for the year ended 31 October 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 October 2023.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report.

S Hagan
D Hagan

POLITICAL DONATIONS AND EXPENDITURE
Charitable donations made during the year totalled £NIL (2022: £3,053).

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Report of the Directors
FOR THE YEAR ENDED 31 OCTOBER 2023


AUDITORS
The auditors, M.B.Mc Grady & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S Hagan - Director


27 August 2024

Report of the Independent Auditors to the Members of
Sam Hagan Leisure (UK) Limited


Opinion
We have audited the financial statements of Sam Hagan Leisure (UK) Limited (the 'company') for the year ended 31 October 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 October 2023 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
The company ceased trading on 1 September 2022 when it sold its caravan park at Solway.

For this reason, the directors are not adopting the going concern basis however, all the assets and liabilities within the financial statements are recognised and measured on the basis of what the company directors expect to recover and discharge.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Sam Hagan Leisure (UK) Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Sam Hagan Leisure (UK) Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge of the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud is in relation to stock valuations and cut off procedures. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

Audit response to risks identified.

The current audit is conducted with professional skepticism using procedures that are in accordance with International Standards on Auditing.

In responding to the identified key audit matter above we obtained an understanding of the key controls relating to stock management and the review and approval of the inventory process including cut off, performed enquires of management and inspected relevant documents and calculations, attending the year end stocktake, completing a recalculation of a sample of stock and perform independent cut off tests, assessing the completeness and accuracy of disclosures within the financial statements and concurred the figure was materially accurate..

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in the notes were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.


Report of the Independent Auditors to the Members of
Sam Hagan Leisure (UK) Limited

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Malachy McGrady (Senior Statutory Auditor)
for and on behalf of M.B.Mc Grady & Co
Chartered Accountants
Statutory Auditors
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS

27 August 2024

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Income Statement
FOR THE YEAR ENDED 31 OCTOBER 2023

31/10/23 31/10/22
Notes £    £   

TURNOVER 740,007 4,507,513

Cost of sales (714,783 ) (2,238,916 )
GROSS PROFIT 25,224 2,268,597

Administrative expenses (129,409 ) (4,936,949 )
(104,185 ) (2,668,352 )

Other operating income 80,000 16,414,128
OPERATING (LOSS)/PROFIT 4 (24,185 ) 13,745,776

Interest receivable and similar income 22,417 21,719
(1,768 ) 13,767,495

Interest payable and similar expenses 6 (2,460 ) (5,192 )
(LOSS)/PROFIT BEFORE TAXATION (4,228 ) 13,762,303

Tax on (loss)/profit 7 795 (2,585,562 )
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(3,433

)

11,176,741

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Other Comprehensive Income
FOR THE YEAR ENDED 31 OCTOBER 2023

31/10/23 31/10/22
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (3,433 ) 11,176,741


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(3,433

)

11,176,741

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Balance Sheet
31 OCTOBER 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 2,483,917 2,483,917

CURRENT ASSETS
Stocks 11 - 714,783
Debtors 12 2,224,292 1,564,436
Cash at bank 2,064 2,229,364
2,226,356 4,508,583
CREDITORS
Amounts falling due within one year 13 3,845,298 6,124,092
NET CURRENT LIABILITIES (1,618,942 ) (1,615,509 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

864,975

868,408

CAPITAL AND RESERVES
Called up share capital 14 100,000 100,000
Share premium 15 200,000 200,000
Retained earnings 15 564,975 568,408
SHAREHOLDERS' FUNDS 864,975 868,408

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





S Hagan - Director


SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Statement of Changes in Equity
FOR THE YEAR ENDED 31 OCTOBER 2023

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 November 2021 100,000 391,667 200,000 3,000,000 3,691,667

Changes in equity
Dividends - (14,000,000 ) - - (14,000,000 )
Total comprehensive income - 14,176,741 - (3,000,000 ) 11,176,741
Balance at 31 October 2022 100,000 568,408 200,000 - 868,408

Changes in equity
Total comprehensive income - (3,433 ) - - (3,433 )
Balance at 31 October 2023 100,000 564,975 200,000 - 864,975

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Cash Flow Statement
FOR THE YEAR ENDED 31 OCTOBER 2023

31/10/23 31/10/22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (660,890 ) 12,799,953
Interest paid (2,460 ) (5,192 )
Tax paid (2,585,562 ) (1,516,836 )
Net cash from operating activities (3,248,912 ) 11,277,925

Cash flows from investing activities
Purchase of tangible fixed assets - (1,150,585 )
Sale of tangible fixed assets - 5,290,416
Interest received 22,417 21,719
Net cash from investing activities 22,417 4,161,550

Cash flows from financing activities
Amount introduced by directors 2,500,001 15,250,000
Amount withdrawn by directors (1,631,979 ) (17,277,130 )
Intercompany balance 131,173 1,024,023
Equity dividends paid - (14,000,000 )
Net cash from financing activities 999,195 (15,003,107 )

(Decrease)/increase in cash and cash equivalents (2,227,300 ) 436,368
Cash and cash equivalents at beginning of
year

2

2,229,364

1,792,996

Cash and cash equivalents at end of year 2 2,064 2,229,364

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Notes to the Cash Flow Statement
FOR THE YEAR ENDED 31 OCTOBER 2023


1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31/10/23 31/10/22
£    £   
(Loss)/profit before taxation (4,228 ) 13,762,303
Depreciation charges - 95,501
Profit on disposal of fixed assets - (142,719 )
Finance costs 2,460 5,192
Finance income (22,417 ) (21,719 )
(24,185 ) 13,698,558
Decrease in stocks 714,783 696,535
Increase in trade and other debtors (659,856 ) (656,904 )
Decrease in trade and other creditors (691,632 ) (938,236 )
Cash generated from operations (660,890 ) 12,799,953

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2023
31/10/23 1/11/22
£    £   
Cash and cash equivalents 2,064 2,229,364
Year ended 31 October 2022
31/10/22 1/11/21
£    £   
Cash and cash equivalents 2,229,364 1,792,996


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/11/22 Cash flow At 31/10/23
£    £    £   
Net cash
Cash at bank 2,229,364 (2,227,300 ) 2,064
2,229,364 (2,227,300 ) 2,064
Total 2,229,364 (2,227,300 ) 2,064

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Sam Hagan Leisure (UK) 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" 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.

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

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


3. EMPLOYEES AND DIRECTORS
31/10/23 31/10/22
£    £   
Wages and salaries 110,164 2,732,887
Social security costs - 162,999
Other pension costs - 116,817
110,164 3,012,703

The average number of employees during the year was as follows:
31/10/23 31/10/22

Staff numbers 2 45

31/10/23 31/10/22
£    £   
Directors' remuneration 105,846 130,800

4. OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging/(crediting):

31/10/23 31/10/22
£    £   
Hire of plant and machinery - (2,424 )
Other operating leases - 8,750
Depreciation - owned assets - 95,501
Profit on disposal of fixed assets - (142,719 )
Auditors' remuneration 7,500 8,000

5. EXCEPTIONAL ITEMS
31/10/23 31/10/22
£    £   
Exceptional items - 16,271,409

During the prior year, the company sold one of its holiday parks, Solway. The profit on this disposal has been shown as an exceptional item in the Profit & Loss Account in 2022.

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31/10/23 31/10/22
£    £   
Bank interest 2,460 5,192

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


7. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the loss for the year was as follows:
31/10/23 31/10/22
£    £   
Current tax:
UK corporation tax (795 ) 2,585,562
Tax on (loss)/profit (795 ) 2,585,562

8. DIVIDENDS
31/10/23 31/10/22
£    £   
Ordinary shares of £1 each
Final - 14,000,000

9. GOING CONCERN

The company ceased trading on 1 September 2022 when it sold its caravan park at Solway.

For this reason, the directors are not adopting the going concern basis however, all the assets and liabilities within the financial statements are recognised and measured on the basis of what the company directors expect to recover and discharge.

10. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 November 2022
and 31 October 2023 2,483,917
NET BOOK VALUE
At 31 October 2023 2,483,917
At 31 October 2022 2,483,917

11. STOCKS
31/10/23 31/10/22
£    £   
Stocks - 714,783

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade debtors 2,222,427 1,512,751
VAT 1,865 51,685
2,224,292 1,564,436

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade creditors 36,478 138,101
Amounts owed to associates 2,598,783 2,467,610
Tax (795 ) 2,585,562
Social security and other taxes - 569,603
Other creditors - 26,406
Directors' current accounts 1,204,832 336,810
Accruals and deferred income 6,000 -
3,845,298 6,124,092

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/10/23 31/10/22
value: £    £   
75,000 Ordinary £1 75,000 75,000
24,999 Ordinary A £1 24,999 24,999
1 Deferred ordinary £1 1 1
100,000 100,000

15. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 November 2022 568,408 200,000 768,408
Deficit for the year (3,433 ) (3,433 )
At 31 October 2023 564,975 200,000 764,975

16. CONTINGENT LIABILITIES AND WARRANTIES

Warranties of one year were given to the buyers of Solway Holiday Park in Septmebr 2022. These warranties lapsed on 1 September 2023.

SAM HAGAN LEISURE (UK) LIMITED (REGISTERED NUMBER: 02686607)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


17. RELATED PARTY DISCLOSURES

Sam Hagan is a common director and the controlling shareholder in both Sam Hagan (UK) Leisure Limited and Hagans Leisure Limited.

During the year there were sales to Hagans Leisure Limited of £691,782 (2022: £871,196) and purchases from the same company of £Nil. At the year end the following balances were due:

Trade debtors £2,222,427
Trade creditors £Nil
Loan balance due to Hagans Leisure Limited of £2,598,783

Sales and purchases between related parties are at normal market prices. Outstanding balances with related entities are unsecured and interest free. During the year the company had not made any provision for bad or doubtful debts owed by related parties.

At the end of the year the company owed Sam Hagan £1,204,832 (2022: £336,810).

18. POST BALANCE SHEET EVENTS

The company ceased trading on 01 September 2022.

It has been confirmed with the directors that since the year end date all creditor and debtor balances have been settled with the exception of inter-company balances due to/from Hagans Leisure Limited.