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REGISTERED NUMBER: 08321590 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2024

for

Blue Anchor Leisure Holdings Limited

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)






Contents of the Consolidated Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 7

Consolidated Statement of Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 19


Blue Anchor Leisure Holdings Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: P R F Holmes
S Woodward
J S Moses





REGISTERED OFFICE: Robin Hood Park
South Road
Chapel St Leonards
Skegness
Lincolnshire
PE24 5TR





REGISTERED NUMBER: 08321590 (England and Wales)





AUDITORS: Torr Waterfield Limited
Statutory Auditor
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Group Strategic Report
for the Year Ended 31 December 2024

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS
Turnover has shown a small decrease for the group from £29,248,000 in 2023 to £28,380,000 in 2024, and pre tax profits have declined to £1,933,000 (2023 - £2,397,000), which is a decrease of 19% on last year. The directors are pleased with these results given the difficult trading conditions in the year with the increasing energy costs and inflationary pressures being faced in the economy.

Our business remains well financed and in a good position to take advantage of increases in demand as the inflationary pressures faced by customers decline.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors consider that the principal risks and uncertainties faced by the group are in the following categories:

Economic risk
The two biggest factors are caravan sales and holiday bookings. Caravan sales can be affected by customer confidence, interest rates and job uncertainty. Caravan sales have started to increase as the economic uncertainty of previous years starts to improve. Holiday bookings have also remained strong.

Competitor risk
The directors manage competition through close attention to customer service levels.

Financial risk
The group has budgetary and financial reporting procedures, supported by appropriate key performance indicators, to manage credit, liquidity and other financial risk.

SECTION 172(1) STATEMENT
The directors of the group act in accordance and reference to the duties detailed in Section 172 of the Companies Act 2006. These duties may be summaried as:

To act in good faith furthering the success of the group for the benefit of its key stakeholders.

This includes:
- considering both the short term and long term impact of their actions and the decision making process;
- taking account of the interests of the group's employees;
- considering the need to foster the group's relationships with their suppliers, customers and the wider community within which it operates;
- taking account of the impact of the group on its environment;
- maintaining the group's reputation for high standard of business conduct; and
- the need to act fairly regarding the group's stakeholders

Risk management
Directors endeavour to effectively identify, evaluate, mitigate and balance risk within the business. As the environment changes the directors continue to evolve their approach to risk management.

People
Our people are fundamental to the successful operation of the business. See section on 'Engaging with employees' within the Directors report.

Business relationships
Our approach on engagement and management of business relationships with suppliers and customers is discussed within the Directors report.

Community and the environment
We endeavour to use our position to create positive change for both the people and communities that we work with.


Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Group Strategic Report
for the Year Ended 31 December 2024

FINANCIAL INSTRUMENTS
The group does not actively use financial instruments as part of its financial risk management. It is exposed to the usual credit risk and cashflow risk associated with selling on credit and manages this through credit control procedures. The nature of its financial instruments means that they are not subject to price risk or liquidity risk.

The group is exposed to interest rate fluctuations on its secured bank loans but does not consider this to be material to the assessment of its financial position or profit.

The group has minimal exposure to foreign exchange risks as all significant material supplies are contracted in sterling.

FUTURE DEVELOPMENTS
We continue to improve and grow our business and predict another successful year in 2025.

ON BEHALF OF THE BOARD:





P R F Holmes - Director


13 May 2025

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Report of the Directors
for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the sale of new and used caravans and the operation of caravan parks along the east coast of Lincolnshire.

The subsidiary company, Alexander Finance Limited, holds land for resale.

DIVIDENDS
During the year, a dividend of £2,500,000 was recommended and paid (2023 - £3,000,000).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

P R F Holmes
S Woodward
J S Moses

ENGAGEMENT WITH EMPLOYEES
We operate an equal opportunities employment policy and take all precautions to ensure the health safety and welfare of our staff.

As a family-run business we know that our fantastic team is crucial to every success, We devote a lot of care in selecting the best people for each job and training them to ensure that they have the right skills to do that job. We aim to build trusting relationships where employees feel motivated and engaged and are encouraged to develop to realise their own potential through support and training.

Gender pay gap
The group strives to ensure that everyone regardless of age, gender, background, race or ethnicity, has an equal opportunity to develop and progress within our organisation. Our desire is to create a group and culture that attracts and retains the best people in out industry, and reflects the communities we are part of. It is important for us therefore to maintain a balance between male and female employees across our different functions.

Employment of disabled persons
We take all reasonable precautions to ensure full and fair consideration to all applications for employment by disabled persons, having regard for their particular aptitudes and abilities. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged, It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
Customers
Our aim is to deliver the best customer experience, providing everything to ensure that family holidays are enjoyable and memorable. To achieve this we engage with our customers through a variety of channels including emails,website and social media. We ask for feedback from customers on all aspects of their interaction with us. We believe that engaging with our customers, we can understand what they value most and ensure that we are tailoring our services to match their expectations.

Suppliers
We work to develop long term relationships with our suppliers and are committed to supporting local businesses whenever practical. As with customers, suppliers are treated with respect and dealt with in a fair, honest and equitable manner.






Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Report of the Directors
for the Year Ended 31 December 2024


STREAMLINED ENERGY AND CARBON REPORTING
The company is required to report under the Streamlined Energy and Carbon Reporting (SECR) framework under the Companies and Limited Liabilities Partnerships Regulations 2018. We have followed the governments guidance on how to measure and report greenhouse gas emissions and have used the 2024 UK Government's Conversion Factors for Company Reporting.


Greenhouse gas emissions and energy use data for the year 1 January 2024 to 31
December 2024

2024 2023
kWh kWh
Energy consumption

Aggregate of energy consumption in the year

9,693,353


10,283,400

2024 2023
tCO2e tCO2e
Scope 1 - direct emissions

Gas

927


816

Scope 2 - indirect emissions

Electricity

1,168


1,363
Total gross emissions 2,095 2,179

Intensity ratio
Tonnes CO2e per £    of revenue 0.074 0.075


Intensity measurement
The chosen intensity measurement ratio is the gross emissions in metric tonne per £    of revenue in the year.

Measures taken to improve energy efficiency
The directors have reviewed the energy and carbon emissions of the company and are commencing a project to install electric car charging points at all sites.


Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Report of the Directors
for the Year Ended 31 December 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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;
- state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements;
- 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





P R F Holmes - Director


13 May 2025

Report of the Independent Auditors to the Members of
Blue Anchor Leisure Holdings Limited

Opinion
We have audited the financial statements of Blue Anchor Leisure Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 December 2024 and of the group's profit 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 group 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
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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
Blue Anchor Leisure Holdings Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 six, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Blue Anchor Leisure Holdings 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:

Extent to which the audit was considered capable of detecting irregularities, including fraud

The capability to detect irregularities is based on the auditor identifying and assessing the risks of material misstatement of the financial statements, whether due to fraud or error, and then designing and performing audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

a) Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, the following approach was taken:

- Understanding the nature of the industry and sector, control environment and business performance;
- Consideration of the results of our enquiries of management and those charged with governance
about their own identification and assessment of the risks of irregularities;
- Understanding the company and group's policies and procedures on compliance with laws and
regulations and management of fraud risk, including documentation of instances of non-compliance
of laws and regulations and instances of actual, suspected or alleged fraud;
- Consideration of matters discussed among the audit engagement team regarding how and where
fraud might occur in the financial statements and any potential indicators of fraud;
- Understanding the legal and regulatory frameworks that the company and group operates in through
enquiry of management and those charged with governance and understanding the company's
industry and sector. The key laws and regulations that were considered to have an effect on material
amounts and disclosures in the financial statements included the Companies Act and tax legislation.

b) Audit response to risks identified

Based on this understanding, the following audit procedures were designed and performed to respond to the risks identified.

- Reviewing the financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations described as having a direct effect on the financial
statement;
- Enquiring of management, those charged with governance and, where applicable, the company and
group's solicitors concerning actual and potential litigation and claims;
- Performing analytical procedures to identify any unusual or unexpected relationships that may
indicate risks of material misstatement due to fraud
- Reviewing minutes of meetings of those charged with governance and, where applicable,
correspondence with regulators;
- Performing audit work over the risk of management override of controls, including testing of journal
entries and other adjustments for appropriateness and evaluating the business rationale of significant
transactions outside the normal course of business.
- Communication of potential fraud risks to all engagement team members and remaining alert to any
indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Report of the Independent Auditors to the Members of
Blue Anchor Leisure Holdings Limited


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.




Mark Andrew Torr FCCA (Senior Statutory Auditor)
for and on behalf of Torr Waterfield Limited
Statutory Auditor
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

14 May 2025

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Consolidated
Statement of Comprehensive
Income
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £'000 £'000

TURNOVER 3 28,380 29,248

Cost of sales (23,083 ) (23,805 )
GROSS PROFIT 5,297 5,443

Administrative expenses (2,266 ) (2,168 )
OPERATING PROFIT 5 3,031 3,275

Interest receivable and similar income 21 46
3,052 3,321

Interest payable and similar expenses 6 (1,119 ) (924 )
PROFIT BEFORE TAXATION 1,933 2,397

Tax on profit 7 (542 ) (654 )
PROFIT FOR THE FINANCIAL YEAR 1,391 1,743

OTHER COMPREHENSIVE INCOME
Deferred tax movement
Income tax relating to other
comprehensive income

33

104
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

33

104
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,424

1,847

Profit attributable to:
Owners of the parent 1,391 1,743

Total comprehensive income attributable to:
Owners of the parent 1,424 1,847

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Consolidated Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £'000 £'000
FIXED ASSETS
Tangible assets 10 86,533 83,345
Investments 11 - -
86,533 83,345

CURRENT ASSETS
Stocks 12 2,493 3,544
Debtors 13 5,163 6,790
Cash at bank and in hand 19 23
7,675 10,357
CREDITORS
Amounts falling due within one year 14 (17,375 ) (18,156 )
NET CURRENT LIABILITIES (9,700 ) (7,799 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,833

75,546

CREDITORS
Amounts falling due after more than one
year

15

(8,609

)

(6,289

)

PROVISIONS FOR LIABILITIES 18 (7,468 ) (7,425 )
NET ASSETS 60,756 61,832

CAPITAL AND RESERVES
Called up share capital 19 8 8
Revaluation reserve 20 28,635 28,602
Merger Reserve 20 992 992
Retained earnings 20 31,121 32,230
SHAREHOLDERS' FUNDS 60,756 61,832

The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2025 and were signed on its behalf by:





P R F Holmes - Director


Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Company Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £'000 £'000
FIXED ASSETS
Tangible assets 10 - -
Investments 11 8 8
8 8
TOTAL ASSETS LESS CURRENT
LIABILITIES

8

8

CAPITAL AND RESERVES
Called up share capital 19 8 8
SHAREHOLDERS' FUNDS 8 8

Company's profit for the financial year 2,500 3,000

The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2025 and were signed on its behalf by:





P R F Holmes - Director


Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Consolidated Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Revaluation Merger Total
capital earnings reserve Reserve equity
£'000 £'000 £'000 £'000 £'000
Balance at 1 January 2023 8 33,487 28,498 992 62,985

Changes in equity
Profit for the year - 1,743 - - 1,743
Other comprehensive income - - 104 - 104
Total comprehensive income - 1,743 104 - 1,847
Dividends - (3,000 ) - - (3,000 )
Balance at 31 December 2023 8 32,230 28,602 992 61,832

Changes in equity
Profit for the year - 1,391 - - 1,391
Other comprehensive income - - 33 - 33
Total comprehensive income - 1,391 33 - 1,424
Dividends - (2,500 ) - - (2,500 )
Balance at 31 December 2024 8 31,121 28,635 992 60,756

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Company Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Total
capital earnings equity
£'000 £'000 £'000
Balance at 1 January 2023 8 - 8

Changes in equity
Dividends - (3,000 ) (3,000 )
Total comprehensive income - 3,000 3,000
Balance at 31 December 2023 8 - 8

Changes in equity
Dividends - (2,500 ) (2,500 )
Total comprehensive income - 2,500 2,500
Balance at 31 December 2024 8 - 8

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Consolidated Cash Flow Statement
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £'000 £'000
Cash flows from operating activities
Cash generated from operations 1 5,021 5,518
Interest paid (1,119 ) (924 )
Tax paid (212 ) (675 )
Net cash from operating activities 3,690 3,919

Cash flows from investing activities
Purchase of tangible fixed assets (4,497 ) (2,999 )
Sale of tangible fixed assets 62 215
Interest received 21 46
Net cash from investing activities (4,414 ) (2,738 )

Cash flows from financing activities
New bank loans in year 4,500 2,500
Bank loan repayments in year (1,478 ) (1,205 )
New other loans in the year - 150
Amount introduced by directors 1,721 454
Amount withdrawn by directors (21 ) (46 )
Equity dividends paid (2,500 ) (3,000 )
Net cash from financing activities 2,222 (1,147 )

Increase in cash and cash equivalents 1,498 34
Cash and cash equivalents at
beginning of year

2

(3,394

)

(3,428

)

Cash and cash equivalents at end of
year

2

(1,896

)

(3,394

)

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 December 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.24 31.12.23
£'000 £'000
Profit before taxation 1,933 2,397
Depreciation charges 1,245 1,270
Loss/(profit) on disposal of fixed assets 2 (35 )
Finance costs 1,119 924
Finance income (21 ) (46 )
4,278 4,510
Decrease in stocks 1,051 648
Increase in trade and other debtors (73 ) (744 )
(Decrease)/increase in trade and other creditors (235 ) 1,104
Cash generated from operations 5,021 5,518

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 December 2024
31.12.24 1.1.24
£'000 £'000
Cash and cash equivalents 19 23
Bank overdrafts (1,915 ) (3,417 )
(1,896 ) (3,394 )
Year ended 31 December 2023
31.12.23 1.1.23
£'000 £'000
Cash and cash equivalents 23 18
Bank overdrafts (3,417 ) (3,446 )
(3,394 ) (3,428 )


Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 December 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24 Cash flow At 31.12.24
£'000 £'000 £'000
Net cash
Cash at bank and in hand 23 (4 ) 19
Bank overdrafts (3,417 ) 1,502 (1,915 )
(3,394 ) 1,498 (1,896 )
Debt
Debts falling due within 1 year (2,763 ) (702 ) (3,465 )
Debts falling due after 1 year (6,289 ) (2,320 ) (8,609 )
(9,052 ) (3,022 ) (12,074 )
Total (12,446 ) (1,524 ) (13,970 )

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Notes to the Consolidated Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Blue Anchor Leisure Holdings 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.

The financial statements are presented in sterling and all values are rounded to the nearest round thousand (£   ) except where otherwise stated.

Basis of consolidation
The consolidated financial statements present the results of the parent and its own subsidiaries ("the group") as they formed a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

In accordance with the transitional exemption available in FRS102, the group has chosen not to retrospectively apply the standard to business combinations that occured before the date of transition to FRS102, being 1 January 2014. Therefore, the group continues to recognise a merger reserve which arose on a past business combination that was accounted for as a merger in accordance with UK GAAP as applied at that time.

Significant judgements and estimates
In the process of applying the group's accounting policies, the group is required to make certain judgements, estimates and assumptions that it believes are reasonable based on the information available. The significant judgements relate to the following:

Tangible fixed assets

Tangible fixed assets except freehold land are depreciated over the useful lives of the assets. Useful lives are based on management's estimates of the period that the assets will generate revenue, which are reviewed annually for continued appropriateness. The carrying values are tested for impairment when there are indications that the value of assets might be impaired. When carrying out impairment tests these would be based upon future anticipated income yields and these would be based upon management judgement. Future events could cause the assumptions to change and this could have an adverse effect on the future results of the group.

Recoverability of trade debtors

The estimates and assumptions used to assess the recoverability of trade debtors consist of the payments received against balances and payment history and the credit worthiness of the customer.

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover in respect of the specific revenue streams is recognised as follows:

Caravan sales are included in turnover in the year in which they are contracted for by the customers.

Site rentals are recognised in the year to which the income relates.

Sales of log cabins are recognised upon completion.

Other takings are recognised on receipt.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost and 10% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated.

In previous years the group adopted a policy of revaluing its freehold properties. On adoption of FRS102 on 1 January 2015, the directors chose not to follow a revaluation policy and to recognise these at deemed cost.

Stocks
Caravan and sundry stock are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs.

Land for sale is valued at the lower of cost and net realisable value.

Financial instruments
The group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

Financial assets that are measured at cost and amortised are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the group would receive for the asset if it were to be sold at the balance sheet date.


Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The balance sheet has net current liabilities of £9,700,000 (2023 - £7,799,000). Included in creditors is deferred income of £9,340,000 (2023 - £9,044,000) which relates to park rental and are non-refundable, being allocated to the statement of comprehensive income when earned.

The directors have prepared forecasts which show that the group will continue to operate within its agreed bank facilities and will be able to meet its liabilities as and when they fall due. As a result the directors consider that there are no indicators to suggest that the company is not a going concern.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

31.12.24 31.12.23
£'000 £'000
Sale of caravans 5,742 7,382
Site rental 15,841 15,066
Log cabin sales 1,155 1,014
Other takings 5,642 5,786
28,380 29,248

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

4. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£'000 £'000
Wages and salaries 8,128 7,871
Social security costs 786 746
Other pension costs 227 233
9,141 8,850

The average number of employees during the year was as follows:
31.12.24 31.12.23

Holiday caravan site staff 272 270
Office and management 21 21
293 291

31.12.24 31.12.23
£    £   
Directors' remuneration 598,154 609,434
Directors' pension contributions to money purchase schemes 18,177 24,869

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 2

Information regarding the highest paid director is as follows:
31.12.24 31.12.23
£    £   
Emoluments etc 351,541 358,668
Pension contributions to money purchase schemes - 7,500

5. OPERATING PROFIT

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

31.12.24 31.12.23
£'000 £'000
Depreciation - owned assets 1,245 1,272
Loss/(profit) on disposal of fixed assets 2 (35 )
Auditors' remuneration 29 30

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.24 31.12.23
£'000 £'000
Bank interest 1,119 924

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.24 31.12.23
£'000 £'000
Current tax:
UK corporation tax 466 334

Deferred tax 76 320
Tax on profit 542 654

UK corporation tax has been charged at 25 % (2023 - 23.50 %).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24 31.12.23
£'000 £'000
Profit before tax 1,933 2,397
Profit multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 23.500 %)

483

563

Effects of:
Expenses not deductible for tax purposes 59 65
Capital expensed - (1 )
Enhanced capital allowances - (4 )
Change in tax rate for deferred tax provision - 31
Total tax charge 542 654

Tax effects relating to effects of other comprehensive income

31.12.24
Gross Tax Net
£'000 £'000 £'000
Deferred tax movement - 33 33

31.12.23
Gross Tax Net
£'000 £'000 £'000
Deferred tax movement - 104 104

The UK corporation tax rate was 25% for the year ended 31 December 2024.

Deferred tax has been calculated at 25%.

8. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

9. DIVIDENDS
31.12.24 31.12.23
£'000 £'000
Ordinary shares of £0.01 each
Final 2,500 3,000

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£'000 £'000 £'000 £'000 £'000
COST
At 1 January 2024 80,424 610 6,353 1,445 88,832
Additions 3,734 100 499 164 4,497
Disposals - (129 ) (527 ) (164 ) (820 )
At 31 December 2024 84,158 581 6,325 1,445 92,509
DEPRECIATION
At 1 January 2024 1,520 331 2,844 792 5,487
Charge for year 260 100 718 167 1,245
Eliminated on disposal - (129 ) (527 ) (100 ) (756 )
At 31 December 2024 1,780 302 3,035 859 5,976
NET BOOK VALUE
At 31 December 2024 82,378 279 3,290 586 86,533
At 31 December 2023 78,904 279 3,509 653 83,345

Included in cost of land and buildings is freehold land of £70,006,000 (2023 - £66,780,000) which is not depreciated.

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£'000
COST
At 1 January 2024
and 31 December 2024 8
NET BOOK VALUE
At 31 December 2024 8
At 31 December 2023 8

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

11. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Blue Anchor Leisure Limited
Registered office: Robin Hood Park, South Road, Chapel St. Leonards, Skegness, Lincolnshire, PE24 5TR
Nature of business: Caravan site operator
%
Class of shares: holding
Ordinary 100.00

Alexander Finance Limited
Registered office: Robin Hood Park, South Road, Chapel St Leonards, Skegness, Lincolnshire, PE24 5TR.
Nature of business: Hire purchase finance debt recovery
%
Class of shares: holding
Ordinary 100.00

Robin Hood Caravan Camp (Lincs) Limited
Registered office: Robin Hood Parl, South Road, Chapel St Leonards, Skegness, Lincolnshire, PE24 5TR.
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00


12. STOCKS

Group
31.12.24 31.12.23
£'000 £'000
Caravans and cabins 1,537 2,596
Sundry stock 349 341
Land for resale 607 607
2,493 3,544

Stock charged as an expense in the Statement of Comprehensive Income in the year amounted to £5,782,000 (2023 - £6,995,000).

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
31.12.24 31.12.23
£'000 £'000
Trade debtors 4,003 3,965
Other debtors 137 120
Directors' current accounts 628 2,328
Prepayments and accrued income 395 377
5,163 6,790

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
31.12.24 31.12.23
£'000 £'000
Bank loans and overdrafts (see note 16) 3,980 4,780
Other loans (see note 16) 1,400 1,400
Trade creditors 883 1,454
Tax 308 54
Social security and other taxes 941 1,095
Other creditors 133 41
Accruals and deferred income 9,730 9,332
17,375 18,156

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
31.12.24 31.12.23
£'000 £'000
Bank loans (see note 16) 8,609 6,289

16. LOANS

An analysis of the maturity of loans is given below:

Group
31.12.24 31.12.23
£'000 £'000
Amounts falling due within one year or on demand:
Bank overdrafts 1,915 3,417
Bank loans 2,065 1,363
Other loans 1,400 1,400
5,380 6,180
Amounts falling due between one and two years:
Bank loans - 1-2 years 1,289 1,939
Amounts falling due between two and five years:
Bank loans - 2-5 years 5,746 4,350
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 1,574 -

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

16. LOANS - continued

The other loan is repayable on demand. Interest is charged on the loan at a rate of 2.5% above base rate.

A 5 year loan was taken out during 2023 year. The loan is repayable monthly until its maturity in June 2028. Interest is charged on the loan at a rate of 2.5% above base rate.

A new loan was taken out with Natwest during the year. The loan is repayable monthly until its maturity in April 2024. Interest is charged on the loan at 1.85& per annum above base rate.

17. SECURED DEBTS

The following secured debts are included within creditors:

Group
31.12.24 31.12.23
£'000 £'000
Bank overdraft 1,915 3,417
Bank loans 10,674 7,652
12,589 11,069

Bank loans and overdrafts are secured on the group's freehold land and buildings.

18. PROVISIONS FOR LIABILITIES

Group
31.12.24 31.12.23
£'000 £'000
Deferred tax
Accelerated capital allowances 1,114 1,038
Other timing differences 6,354 6,387
7,468 7,425

Group
Deferred
tax
£'000
Balance at 1 January 2024 7,425
Provided during year 77
Revaluation reserve provision (33 )
Change in tax rate
Balance at 31 December 2024 7,469

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £'000 £'000
767,901 Ordinary £0.01 8 8

Blue Anchor Leisure Holdings Limited (Registered number: 08321590)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

20. RESERVES

The group's and company's capital and reserves are as follows:

Called up share capital

Called up share capital represents the nominal value of the shares issued.

Revaluation reserve

The reserve was established to recognise all gains and losses arising from revaluations of freehold properties in prior years. The group no longer revalues its properties on adoption of FRS102. All movements through this reserve will be as a result of adjustments for deferred taxation, depreciation adjustments and disposals or impairments of previously revalued properties.

Merger Reserve

This reserve is recognised on consolidation.

Retained Earnings

The retained earning represents cumulative profits or losses net of dividends paid and other adjustments.

21. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£'000 £'000
S Woodward
Balance outstanding at start of year 2,328 2,736
Amounts advanced 800 2,592
Amounts repaid (2,500 ) (3,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 628 2,328

The above loan was repayable on demand and interest has been charged at the HMRC Official Rate. The interest charged during the year was £21,163 (2023 - £45,663).

22. RELATED PARTY DISCLOSURES

Other related parties

The amount due to Mrs P J Holmes at the balance sheet date and included in other loans was
£1,400,000 (2023 - £1,400,000). Interest was payable at 2.5% above the bank base rate per annum.
The amount of interest paid on the loan during the year was £106,745 (2023 - £87,599) and the
creditor/accrual due at the year end in relation to interest was £16,963 (2023 - £18,133).

Key management personnel are considered to be the directors of the company. Their remuneration is stated in Note 4.

23. ULTIMATE CONTROLLING PARTY

The controlling party is S W Trust.