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Registered number: SC585188
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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WOOD LEISURE HOLIDAY PARKS LIMITED
COMPANY INFORMATION
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WOOD LEISURE HOLIDAY PARKS LIMITED
CONTENTS
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WOOD LEISURE HOLIDAY PARKS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
Wood Leisure is a multi-generational, family-owned and managed business with six holiday parks across Scotland. The family has well over 40 years of experience operating holiday parks, promoting the customer benefits of a “family-run business ethos” in an increasingly corporate world and are very proud of their reputation in the tourism industry and their numerous tourism awards. Notably winner of “Best Holiday Park” in the Scottish Hospitality Awards 2025 as well as a certificate of excellence. This accolade follows 2024 “Best Holiday Park” winner.
In 2024 we continued to be impacted by high interest rates, inflation in every sector, high costs for gas and electricity and ever-increasing employee “cost of living” wage increases. All of these demands on our business have sent our overheads spiralling and we have struggled to pass on all of these costs to our customers in a bid to maintain our competitiveness.
Demand for our parks in 2024 continued to be good. Wood Leisure continues to focus on driving the business forward, upgrading park infrastructure, upgrading and renewing accommodation, implementing new technologies, training and developing staff and improving the customer experience in every way. Wood Leisure continue to be successful in holiday home sales, both new and upgrade sales despite the ever-increasing cost of products coupled with cost-of living pressures on potential customers. Wood Leisure's reputation for customer care, our family values, commitment to our employees, our branding, marketing and Award-winning continue to keep a spotlight on our holiday parks and help to generate new bookings and enquiries. Our very popular Loyalty Programme for our customers also helps to encourage repeat visits and cross-selling throughout our locations. Wood Leisure continues to prioritise sustainability and the environment and progresses towards Net Zero. Our EV chargers are becoming more popular, our fleet of electric park vehicles and electric park equipment continues to grow. We continue to monitor utility use, encourage recycling, continue our commitment to Play it Green and we have also installed more new roof top solar panels. CHAS has been our charity of the year and we raised the profile of the business in Perthshire by sponsoring a majestic Highland COO as part of the COO Trail organised by the Children's Hospices of Scotland. A well-loved charity in Scotland, our customers, staff and locals to our parks have all been enthusiastic supporters of all of our fund-raising ventures. 2024 saw the launch of our brand new HR platform, highlighting our commitment to our valued teams on our holiday parks. Employee retention and progression are paramount to the success of the business so training and promotional opportunities, support helplines for mental and physical health, options for flexible working and social interaction are key to the well-being of our employees. The News Channel on our new platform and the increased efficiency in sharing, streamlining of processes and enhanced GDPR it provides, really enhances our HR capabilities. Our support of the Real Living Wage in Scotland as well as our key staff benefits, incentives and rewards are also vital to attract new, skilled talent to our teams.
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WOOD LEISURE HOLIDAY PARKS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
Our Health and Safety Team continue to follow the ever-increasing compliance and government guidelines with a focus on sustainability and the safety and security of our customers and teams.
Major risk factors continue to be price inflation in every commodity necessary to operate the business, particularly the cost of holiday homes, utilities, wages, rates, corporation tax and all taxes. Staffing continues to be challenging and the retention of our well-trained employees is essential to business growth. National Insurances increases for the business will adversely impact us going forward as will the Government's proposed new employee legislation. On-going conflicts in Europe and the Middle East have implications for all of us and continue to give us all concern.
Major business decisions
Wood Leisure sold Campsie Glen Holiday Park in February 2024, providing capital to help purchase Gart Farm (adjacent to Callander Woods Holiday Park) in July 2024 and Faskally Woods Holiday Park in October 2024. A loan for the major purchase of Faskally Woods is being provided by RBS.
The Company measures KPIs on a monthly basis as part of its internal control processes and management accounts function.
The KPIs are on turnover, profitability and performance.
There are no other key performance indicators that the Company uses to measure performance.
This report was approved by the board on 20 October 2025 and signed on its behalf.
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WOOD LEISURE HOLIDAY PARKS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
The directors present their report and the financial statements for the year ended 31 January 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments 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 to 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.
The profit for the year, after taxation, amounted to £698,487 (2024 - £909,022).
Dividends of £81,600 were paid during the year (2024 - £61,200).
The directors who served during the year were:
Wood Leisure continue to focus on perfecting the holiday experience offered to our holiday park guests and holiday home owners - exceptional customer care and industry-leading quality facilities and accommodations. Employee retention and training is paramount to success and our ongoing refurbishment and renewals programme is paramount to customer satisfaction. Challenges lie ahead but the Wood Leisure Family and their committed team continue to thrive despite adversities and uncertainties.
Major challenges lie ahead - the changes to IHT will adversely impact every family business in the UK. It will impact Wood Leisure's ability to thrive and it may well stall it's ambitions to "raise the bar" of the holiday park industry in Scotland.
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WOOD LEISURE HOLIDAY PARKS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
The auditors, Sumer Auditco Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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WOOD LEISURE HOLIDAY PARKS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WOOD LEISURE HOLIDAY PARKS LIMITED
We have audited the financial statements of Wood Leisure Holiday Parks Limited (the 'Company') for the year ended 31 January 2025, which comprise the Statement of income and retained earnings, the Statement of financial position, the Statement of cash flows and the related notes, 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).
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 United Kingdom, including the Financial Reporting Council'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.
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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
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WOOD LEISURE HOLIDAY PARKS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WOOD LEISURE HOLIDAY PARKS LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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 Directors' report.
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WOOD LEISURE HOLIDAY PARKS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WOOD LEISURE HOLIDAY PARKS LIMITED (CONTINUED)
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 an Auditors' report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
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 Auditors' 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 an Auditors' report 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.
for and on behalf of
Chartered Accountants & Statutory Auditors
14 City Quay
DD1 3JA
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WOOD LEISURE HOLIDAY PARKS LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 JANUARY 2025
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WOOD LEISURE HOLIDAY PARKS LIMITED
REGISTERED NUMBER: SC585188
STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 12 to 26 form part of these financial statements.
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WOOD LEISURE HOLIDAY PARKS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2025
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WOOD LEISURE HOLIDAY PARKS LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 JANUARY 2025
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WOOD LEISURE HOLIDAY PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
Wood Leisure Holiday Parks Limited is a private company, limited by shares, domiciled in Scotland with registration number SC585188. The registered office is Wood Leisure Head Office, Blairgowrie Holiday Park, Rattray, Blairgowrie, Perthshire, United Kingdom, PH10 7AL.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The functional and presentational currency of the company is GBP sterling (£).
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
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WOOD LEISURE HOLIDAY PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2.Accounting policies (continued)
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure. The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
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WOOD LEISURE HOLIDAY PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2.Accounting policies (continued)
Goodwill
Other intangible assets
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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WOOD LEISURE HOLIDAY PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2.Accounting policies (continued)
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as listed.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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WOOD LEISURE HOLIDAY PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
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 Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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WOOD LEISURE HOLIDAY PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
Intangible fixed assets are amortised over their useful lives. The actual lives of the assets are assessed annually and may vary depending on a number factors. In re-assessing asset lives, factors such as contractual or other legal rights are taken into account. Tangible fixed assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and the residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
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WOOD LEISURE HOLIDAY PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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WOOD LEISURE HOLIDAY PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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WOOD LEISURE HOLIDAY PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
The only factors affecting tax charges are those imposed by HMRC.
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WOOD LEISURE HOLIDAY PARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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