REGISTERED NUMBER: 02666858 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Lloyds Caravan Sales Co. Limited

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

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

17

DIRECTORS:

Mr G A Townsend

Mr M R Jones

REGISTERED OFFICE:

Lloyds Caravans and Lodge Sales

Towyn Road

Towyn

Abergele

Conwy

LL22 9NW

REGISTERED NUMBER:

02666858 (England and Wales)

AUDITORS:

Pritchett & Co Business Advisers Limited

Chartered Accountants and Statutory Auditors

16 Wynnstay Road

Colwyn Bay

Conwy

LL29 8NB

The directors present their strategic report for the year ended 31 December 2024.

The company has seen an overall decrease in turnover over the previous year as a result in the general slowdown in the marketplace. However, gross margins have increased to 20.3% from 14.6% in the prior year.

The financial health of the company and group remains good and management predicts increasing cashflows in the future.

The management continue to monitor and control overhead costs of the company in order to maximise profits.

The company has historically seen the demand for caravans increasing following the pandemic which has resulted in the increased trading performance and ultimately the increased profits obtained in prior years. During the year, the trading activity has declined, however, the directors feel that company is in a good position to achieve improved the net trading performance.

ON BEHALF OF THE BOARD:

Mr G A Townsend - Director

29 September 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Caravan Sales.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS

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

Mr G A Townsend

Mr M R Jones

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Pritchett & Co Business Advisers Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr G A Townsend - Director

29 September 2025

Opinion

We have audited the financial statements of Lloyds Caravan Sales Co. Limited (the 'company') for the year ended 31 December 2024 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 December 2024 and of its 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 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

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 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 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.

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.

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:

Enquiries of management and those charged with governance were held in order to identify any laws and regulations that could be expected to have a material impact on the financial statements. Throughout the audit, the team were updated with the outcome of these enquiries including consideration as to where and how fraud may occur in the company.

The audit procedures undertaken to address any potential risk in relation to irregularities (which include fraud and non-compliance with laws and regulations) included; enquiries of management and those charged with governance on how the company comply with relevant laws, regulations and cases actual or potential litigation or claims; examination of appropriate legal correspondence, review of the board minutes, testing of journal entries for appropriateness; and analytical procedures on account balances to identify variances against expectation which may show indications of fraud.

No instances of material non-compliance were identified, although the prospect of detecting irregularities, including fraud, is inherently difficult. This is due to; difficulty in detecting irregularities; limits imposed by the effectiveness of the entity's controls; and the nature, timing and extent of the audit procedures performed. Irregularities as a result of fraud are inherently more difficult to detect than those resulting from error. Despite the audit being planned and performed in accordance with ISAs (UK), there is an unavoidable risk that material misstatements may not be detected.

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.

Andrew Morris (Senior Statutory Auditor)

for and on behalf of Pritchett & Co Business Advisers Limited

Chartered Accountants and Statutory Auditors

16 Wynnstay Road

Colwyn Bay

Conwy

LL29 8NB

29 September 2025

TURNOVER

6,166,570

10,347,063

Cost of sales

4,913,286

8,833,908

GROSS PROFIT

1,253,284

1,513,155

Distribution costs

54,143

57,532

Administrative expenses

705,442

1,042,751

759,585

1,100,283

493,699

412,872

Other operating income

34,252

64,999

OPERATING PROFIT

4

527,951

477,871

Interest receivable and similar income

15,383

58,991

PROFIT BEFORE TAXATION

543,334

536,862

Tax on profit

5

70,346

133,225

PROFIT FOR THE FINANCIAL YEAR

472,988

403,637

PROFIT FOR THE YEAR

472,988

403,637

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

472,988

403,637

FIXED ASSETS

Tangible assets

6

360,451

673,768

Investments

7

193,000

193,000

553,451

866,768

CURRENT ASSETS

Stocks

8

4,991,371

7,262,776

Debtors

9

3,028,144

4,817,132

Cash at bank and in hand

712,510

2,207,746

8,732,025

14,287,654

CREDITORS

Amounts falling due within one year

10

1,503,091

7,853,227

NET CURRENT ASSETS

7,228,934

6,434,427

TOTAL ASSETS LESS CURRENT LIABILITIES

7,782,385

7,301,195

PROVISIONS FOR LIABILITIES

11

18,896

10,694

NET ASSETS

7,763,489

7,290,501

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

7,763,389

7,290,401

SHAREHOLDERS' FUNDS

7,763,489

7,290,501

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mr G A Townsend - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

6,886,764

6,886,864

Changes in equity

Total comprehensive income

-

403,637

403,637

Balance at 31 December 2023

100

7,290,401

7,290,501

Changes in equity

Total comprehensive income

-

472,988

472,988

Balance at 31 December 2024

100

7,763,389

7,763,489

Cash flows from operating activities

Cash generated from operations

1

(3,142,671

)

(225,255

)

Tax paid

(69,788

)

(304,623

)

Net cash from operating activities

(3,212,459

)

(529,878

)

Cash flows from investing activities

Purchase of tangible fixed assets

(24,496

)

-

Purchase of fixed asset investments

-

(83,000

)

Sale of intangible fixed assets

303,921

-

Sale of tangible fixed assets

295,643

-

Interest received

15,383

58,991

Net cash from investing activities

590,451

(24,009

)

Cash flows from financing activities

Movement in Related Party Loans

1,014,862

(68,907

)

Movement in directors loans

111,910

(150,451

)

Net cash from financing activities

1,126,772

(219,358

)

Decrease in cash and cash equivalents

(1,495,236

)

(773,245

)

Cash and cash equivalents at beginning of year

2

2,207,746

2,980,991

Cash and cash equivalents at end of year

2

712,510

2,207,746

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

31/12/24

31/12/23

£

£

Profit before taxation

543,334

536,862

Depreciation charges

42,170

53,006

Profit on disposal of fixed assets

(303,921

)

-

Finance income

(15,383

)

(58,991

)

266,200

530,877

Decrease/(increase) in stocks

2,271,405

(4,188,391

)

Decrease in trade and other debtors

598,779

1,419,388

(Decrease)/increase in trade and other creditors

(6,279,055

)

2,012,871

Cash generated from operations

(3,142,671

)

(225,255

)

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

£

£

Cash and cash equivalents

712,510

2,207,746

Year ended 31 December 2023

31/12/23

1/1/23

£

£

Cash and cash equivalents

2,207,746

2,980,991

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/24

Cash flow

At 31/12/24

£

£

£

Net cash

Cash at bank and in hand

2,207,746

(1,495,236

)

712,510

2,207,746

(1,495,236

)

712,510

Total

2,207,746

(1,495,236

)

712,510

1.	STATUTORY INFORMATION

Lloyds Caravan Sales Co. 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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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.

3.	EMPLOYEES AND DIRECTORS

31/12/24

31/12/23

£

£

Wages and salaries

694,465

768,188

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

31/12/24

31/12/23

Management and staff

20

19

31/12/24

31/12/23

£

£

Directors' remuneration

69,192

100,414

4.	OPERATING PROFIT

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

31/12/24

31/12/23

£

£

Depreciation - owned assets

42,170

53,006

Profit on disposal of fixed assets

(303,921

)

-

Auditors' remuneration

4,150

7,100

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31/12/24

31/12/23

£

£

Current tax:

UK corporation tax

62,144

133,225

Deferred tax

8,202

-

Tax on profit

70,346

133,225

6.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

515,190

126,655

408,852

14,505

1,065,202

Additions

-

-

24,496

-

24,496

Disposals

(293,658

)

-

(35,750

)

-

(329,408

)

At 31 December 2024

221,532

126,655

397,598

14,505

760,290

DEPRECIATION

At 1 January 2024

-

92,694

285,665

13,075

391,434

Charge for year

-

8,490

33,323

357

42,170

Eliminated on disposal

-

-

(33,765

)

-

(33,765

)

At 31 December 2024

-

101,184

285,223

13,432

399,839

NET BOOK VALUE

At 31 December 2024

221,532

25,471

112,375

1,073

360,451

At 31 December 2023

515,190

33,961

123,187

1,430

673,768

7.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31/12/24

31/12/23

£

£

Other

193,000

193,000

8.

STOCKS

31/12/24

31/12/23

£

£

Stocks

4,991,371

7,262,776

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

1,897,113

2,454,759

Amounts owed by group undertakings

735,059

1,750,311

Amounts owed by associates

128,076

127,686

Other debtors

69,786

-

Directors' current accounts

187,962

299,872

Tax

-

63,437

VAT

-

52,276

Prepayments

10,148

68,791

3,028,144

4,817,132

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade creditors

1,262,165

7,570,085

Tax

62,144

133,225

Social security and other taxes

13,928

20,324

VAT

11,766

-

Other creditors

26,640

15,500

Accruals and deferred income

126,448

114,093

1,503,091

7,853,227

The bank overdraft and obligations under finance leases and hire purchase contracts are secured.

11.	PROVISIONS FOR LIABILITIES

31/12/24

31/12/23

£

£

Deferred tax

Accelerated capital allowances

18,896

10,694

Deferred

tax

£

Balance at 1 January 2024

10,694

Provided during year

8,202

Balance at 31 December 2024

18,896

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

100

Ordinary

100

100

100

13.

RESERVES

Retained

earnings

£

At 1 January 2024

7,290,401

Profit for the year

472,988

At 31 December 2024

7,763,389

14.	CONTINGENCIES

HSBC Bank plc holds a composite company unlimited multilateral guarantee dated 24 May 2007 given by Sun Valley Caravan Park Limited, Lloyds Caravan Sales Co Limited and Otmertold Limited.

15.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in debtors is an amount of £187,962 (2023: £299,871) owed to the company by Mr GA Townsend. Interest is charged on the outstanding amount.