Company No: SC553245 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	4,667		6,667
Tangible assets	4	1,208,900		1,177,005
		1,213,567		1,183,672
Current assets
Stocks		6,250		4,750
Debtors	5	4,857		3,193
		11,107		7,943
Creditors: amounts falling due within one year	6	( 186,511)		( 166,516)
Net current liabilities		(175,404)		(158,573)
Total assets less current liabilities		1,038,163		1,025,099
Creditors: amounts falling due after more than one year	7	( 819,722)		( 862,665)
Provision for liabilities		( 99,521)		( 85,018)
Net assets		118,920		77,416
Capital and reserves
Called-up share capital	8	2		2
Profit and loss account		118,918		77,414
Total shareholders' funds		118,920		77,416

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Lyon & Lyon Partners Ltd (registered number: SC553245) were approved and authorised for issue by the Board of Directors on 21 August 2025. They were signed on its behalf by:

Oliver James Lyon Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lyon & Lyon Partners Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Lyon & Lyon Partners Ltd, Speyside Gardens Caravan Park, Aberlour, AB38 9LD, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities of £175,404 (2023 - £158,573). The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for caravan and camping site rentals, gas sales, caravan sales, and shop sales net of VAT and trade discounts. Turnover is recognised on the accruals basis.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery etc.	5 - 8 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		8

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2024	20,000		20,000
At 31 December 2024	20,000		20,000
Accumulated amortisation
At 01 January 2024	13,333		13,333
Charge for the financial year	2,000		2,000
At 31 December 2024	15,333		15,333
Net book value
At 31 December 2024	4,667		4,667
At 31 December 2023	6,667		6,667

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 January 2024	976,451		513,003		1,489,454
Additions	34,369		112,214		146,583
At 31 December 2024	1,010,820		625,217		1,636,037
Accumulated depreciation
At 01 January 2024	113,702		198,747		312,449
Charge for the financial year	20,026		94,662		114,688
At 31 December 2024	133,728		293,409		427,137
Net book value
At 31 December 2024	877,092		331,808		1,208,900
At 31 December 2023	862,749		314,256		1,177,005

5. Debtors

	2024		2023
	£		£
Other debtors	4,857		3,193

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts	60,415		58,129
Trade creditors	15,341		9,940
Accruals	17,900		4,582
Other taxation and social security	14,646		4,589
Obligations under finance leases and hire purchase contracts	78,034		59,615
Other creditors	175		29,661
	186,511		166,516

The bank loan and overdraft are secured by way of standard security and a floating charge.

The company bank loan was granted under the Coronavirus Business Interruption Loan Scheme which is partly guaranteed by the UK government and also secured by way of a floating charge over the assets of the company.

The obligations under hire purchase contracts are secured over the assets which the agreement relate to.

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	239,320		272,815
Amounts owed to directors	416,766		430,380
Obligations under finance leases and hire purchase contracts	163,636		159,470
	819,722		862,665

The bank loan and overdraft are secured by way of standard security and a floating charge.

The company bank loan was granted under the Coronavirus Business Interruption Loan Scheme which is partly guaranteed by the UK government and also secured by way of a floating charge over the assets of the company.

The obligations under hire purchase contracts are secured over the assets which the agreement relate to.

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
2 Ordinary Shares shares of £ 1.00 each	2		2

9. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Key Management Personnel	416,766		430,380

The above loan is unsecured, interest free and is included within creditors falling due more than one year after the balance sheet date.