The directors present the strategic report for the period ended 31 January 2025.

The group continued to focus on its core business during the period ended 31 January 2025 and has continued to improve its’ financial and operating systems. Within 2024 we saw the opening of the Marian Resort and Spa, which offers luxury accommodation, as well as a luxury restaurant and spa facilities, and compliments the existing portfolio. In July 2025, we purchased Terfyn Pella holiday park, located close to an existing site, which again compliments nicely the existing portfolio.

Group Results

Turnover for the 11 month period was £54,938,972 compared to £55,921,360 for the previous 13 month period (as restated). Gross profit for the period was £38,332,572 compared to £40,114,587 for the previous period. Gross margins decreased slightly from 71.7% to 69.8%.

Administrative expenditure increased from £24,028,137 to £25,584,828 resulting in operating profit of £13,246,290 compared to the previous period operating profit of £16,232,850. As a result, operating margins decreased from 29.0% to 24.1%.

At the year-end shareholders’ funds stood at £116,451,892 (2023: £105,450,406 - as restated) including profit and loss reserves of £111,422,302 (2023: £100,420,816 - as restated). The restatement of the prior period figures is explained in note 32 to the accounts.

The group’s performance for the period has again been strong despite competitive trading conditions due to the cost of living crisis and this is reflected in the results for the period.

The directors continually aim to improve the performance of the group through focusing on its’ core activities both within existing sites and through acquisitions and although the external commercial environment is expected to remain competitive in the foreseeable future, the directors believe that the company's financial position is strong, and they remain confident that they can continue to build on the current performance level and achieve sustainable growth.

The key business risks and uncertainties affecting the group are considered to relate to competition from similar businesses within the region and the state of the economy as a whole. The directors have a strong knowledge of the market and are continually monitoring competitors in order to stay competitive. We continue to improve and develop our facilities to maintain competitiveness.    

The ongoing situation regarding the cost of living crisis has been closely monitored by the directors as part of their going concern assessment. Plans were put in place to mitigate potential risks identified by the directors.

The group monitors gross and operating profit margins and site occupancy and believe these to be the key performance indicators.

The directors are satisfied that the performance against these indicators has been sufficient to maintain and develop the position of the group based on the turnover and gross profit during the year.

The Board of Directors, in line with their duties under s172 of the Companies Act 2006, act in a way they consider, in good faith, would be most likely to promote the success of the group as a whole, and in doing so have regard to a range of matters when making decisions for the long term. Key decisions and matters that are of strategic importance to the group are appropriately informed by s172 factors.

Through an open and transparent dialogue with our key stakeholders, we have been able to develop a clear understanding of their needs, assess their perspectives and monitor their impact on our strategic ambition and culture. As part of the Board’s decision-making process, the Board considers the potential impact of decisions on relevant stakeholders whilst also having regard to a number of broader factors, including the impact of the group’s operations on the community and environment, responsible business practices and the likely consequences of decisions in the long term.

Stakeholder engagement

Customers

Due to the nature of the business there is no high dependency on any particular customer and no single customer represents in the opinion of the directors an unacceptable risk. Bad debt charges are a risk associated within the industry but nevertheless are statistically low and provided for in the financial statements.

Employees

As a large employer in our local area, we are able to offer a wide range of employment opportunities for people with differing skill sets. We invest in our personnel with a focus on providing long term employment opportunities for committed employees who share our vision for success.

We provide support to our employees through skills training and assisting them in pursuit of professional qualifications.

Community

We support local individuals and suppliers and always look to source products from the local area whenever possible.

On behalf of the board

The directors present their annual report and financial statements for the period ended 31 January 2025.

The principal activity of the company and group continued to be operator of holiday parks, hotel and restaurant outlets and caravan sales dealerships.

The results for the period are set out on page 9.

Ordinary dividends were paid amounting to £206,250. The directors do not recommend payment of a further dividend.

The directors who held office during the period and up to the date of signing of the financial statements were as follows:

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. 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.

The group's policy is to consult and discuss with employees matters likely to affect employees' interests.

Information about matters of concern to employees regarding the financial and economic factors affecting the group's performance is also provided.

The directors recognise the need to foster the company's business relationships, with suppliers, customers and others. The directors focus on open communication in order to create positive business relationships to ensure it can meet its future strategic plans.

In accordance with section 414 c(11) of the Companies Act 2006 the company has chosen to set out details of likely future developments in the business as required by schedule 7 of the Large and Medium Sized Companies and Groups (Accounts and Reports Regulations 2008) within the strategic report.

The directors recommend the reappointment of Champion Accountants LLP as auditors to the company.

The company is constantly striving to reduce its Co2 and look at alternative sources to power its operations. We regularly carry out water leak tests across our parks.

We have started to record and monitor our energy consumption, which is estimated at 6,000 MWh per annum, with a view to making annual improvements. We are in the process of engaging energy experts to assist us in gathering the data required to enable us to meet the SECR reporting requirements and are hoping that this will be available from financial year 25/26.

We are looking into renewable sources for heat and power at some of our parks and this will be formulated into our environmental strategy once initial surveys have been completed. We also are continuing to review our energy efficiency, and are continually looking at how we can make improvements such as purchasing electric vehicles where possible, as well as introducing solar panels onto our parks.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

The directors are responsible for preparing the Annual Report 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 group and company, 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 UK 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 group and company will continue in business.

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

We have audited the financial statements of Lyons Holiday Park Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 January 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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 the parent company's affairs as at 31 January 2025 and of the group's profit for the period 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and 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 other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• The information given in the strategic report and the directors' report for the financial period 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 with the exception of the matter noted below.

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. However, we have identified that the information required by regulation concerning energy and carbon reporting has been omitted. The directors have explained that they are in the process of gathering the necessary data to enable them to make this disclosure from FY 25/26.

Apart from the matter noted above, we have nothing to report in respect of the following matters in relation to which 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.

As explained more fully in the directors' responsibilities statement, 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 is 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 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 parent company or to cease operations, or have no realistic alternative but to do so.

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 auditor's 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.

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

As part of our planning process:

- We enquired of management the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. Management did not inform us of any known, suspected or alleged fraud.

- We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, Companies Act 2006 and compliance with health and safety laws.

- We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetrated, and tailored our risk assessment accordingly.

- Using our knowledge of the company, together with the discussions held with management at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

- Identifying and testing journal entries in overall accounting records, in particular those that were significant and unusual.

- Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.

- Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates, in particular in relation to doubtful debt provisions, depreciation methods and stock valuation.

- Assessing the extent of compliance, or lack of, with the relevant laws and regulations.

- Documenting and verifying all significant related party balances and transactions.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing Standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor's 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £11,207,737 (2024 - £8,044,040 profit).

Lyons Holiday Park Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Champion Allwoods Limited, 2nd Floor Refuge House, 33-37 Watergate Row, Chester, CH1 2LE.

The group consists of Lyons Holiday Park Limited and all of its subsidiaries.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 including the provisions of the Large and Medium-sized Companies and Groups (Accounts and Reports) regulations 2008.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets acquired, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

The consolidated financial statements incorporate those of Lyons Holiday Park Limited and all of its material subsidiaries (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

All financial statements are made up to 31 January 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The financial statements represent an 11 month trading period to 31 January 2025 compared to a prior 13 month period to 29 February 2024. Therefore, the financial statements are not directly comparable.

Income attributable to the financial year, excluding value added tax, is recognised as follows:

- Site fees and hire charges, over the period covered by the fees or charges

- Caravan sales, according to date of transfer of ownership

- Bar and arcade machine sales, on the date of the supply of services; and

- Other sales, reimbursements and receipts, according to the period specified or contracted.

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is between 1 and 5 years.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

No depreciation is provided in respect of freehold property as a significant element of the cost relates to land. In addition, it is company policy to maintain and improve the buildings to a standard where depreciation is insignificant with regard to the life of the assets. The company will consider the need for an impairment review should there be a change in the company's circumstances.

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 recognised in the profit and loss account.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Caravan stock is valued at the lower of cost and net realisable value. The retail values are used in order to assist in calculating net realisable value.

House stock is valued at the lower of cost and net realisable value, after allowance for selling costs.

Bar stock is valued at cost on a first-in, first-out basis, after making due allowance for obsolete or slow moving stock.

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

The company operates defined contribution pension schemes for employees and directors. The assets of the schemes are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Short-term investments

Listed investments are initially included in the financial statements at fair value, which is normally transaction price less transaction costs. Subsequently they are measured at fair value at the balance sheet date. Investment gains or losses arising on revaluation and disposals during the year are recognised in the profit and loss account.

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors do not consider there to be any key sources of estimation uncertainty.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Stock is valued at the lower of cost and net realisable value. Net realisable value includes, where necessary, provisions for slow moving and obsolete stocks. Calculation of these provisions requires judgement to be made, which include forecast consumer demand, the promotional, competitive and economic environment and inventory loss trends.

Provisions are made at the year end for bad debts. Calculation of these provisions require judgements to be made by the directors, which includes historic trends and other elements of judgments .

Depreciation is provided to write down the assets over the estimated economic useful lives as set out in the Company's accounting policies. The selection of these estimated lives requires the exercise of management judgement. Useful lives are regularly reviewed and should management's assessment of useful lives change, then depreciation charges and carrying value of fixed assets in the financial statements would change accordingly.

The turnover and profit before tax are attributable to the one principal activity of the company.

All principle activities are carried out in the United Kingdom.

The average monthly number of persons (including directors) employed by the group and company during the period was:

The average monthly number of persons shown above includes part time workers counted as one whole unit.

Their aggregate remuneration comprised:

The actual charge for the period can be reconciled to the expected charge for the period based on the profit or loss and the standard rate of tax as follows:

Freehold Investment Properties at a historic cost of £628,621 were last revalued by the directors at 31 October 2010 on an open market value basis taking into account any rental agreements in force. The directors are of the opinion that the value of these investment properties have not changed since the open market valuation.

Details of the company's subsidiaries at 31 January 2025 are as follows:

Registered office addresses (all UK unless otherwise indicated):

In the director's opinion the market value of the dormant investments was £Nil at 31 January 2025 (2024 - £Nil)

Included under creditors falling due within one year are bank loans which are secured by a legal charge over freehold land and property at Rhyl, Abergele and Penmaenmawr, North Wales, totalling £3,524,870 (2024 - £3,886,758.

Included under creditors falling due after more than one year are bank loans which are secured by a legal charge over freehold land and property at Rhyl, Abergele and Penmaenmawr, North Wales, totalling £20,939,801 (2024 - £26,114,034).

Bank borrowing is secured by a first legal charge over freehold land and property at Rhyl, Abergele and Penmaenmawr, North Wales.

Bank loans are due for repayment by instalments and subject to review. Interest is charged at varying rates of interest linked to the bank base rate.

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

On 31 July 2025, the company completed the purchase of a caravan park for a total consideration of £2.8 million.

This transaction occurred after the balance sheet date of 31 January 2025 and, as the conditions leading to this acquisition did not exist at the balance sheet date, it is treated as a non-adjusting post balance sheet event in accordance with FRS 102 Section 32.

Delyn Metals Limited

At 31 January 2025, £1,915,821 (2024 - £495,626 due to) was due from Delyn Metals Limited, a company in which all the directors of Lyons Holiday Park Limited are also directors and shareholders. The loan is interest free and repayable on demand.

Lyons Delyn Incorporated
At 31 January 2025, £4,007,751 (2024 - £3,983,934) was due from Lyons Delyn Inc, a company which is a wholly owned subsidiary of Delyn Metals Limited. The loan is interest free and repayable on demand.

La Concha Enterprises SL
At 31 January 2025, £1,625,454 (2024 - £1,624,309) was due from La Concha Enterprises SL, a Spanish company in which all the directors of Lyons Holiday Park Limited are also directors and shareholders. The loan is interest free and repayable on demand.

Evans Caravan Park Limited
At 31 January 2025, £nil (2024 - £3,334) was owed to Evans Caravan Park Limited, a subsidiary company of Lyons Holiday Park Limited.

Sunnysands Caravan Park Limited
At 31 January 2025, £nil (2024 - £25,000) was owed to Sunnysands Caravan Park Limited, a subsidiary company of Lyons Holiday Park Limited.

Point of Ayr Holiday Park Limited
At 31 January 2025, £nil (2024 - £120) was owed to Point of Ayr Holiday Park Limited, a subsidiary company of Lyons Holiday Park Limited.

Mounds Holiday Park Limited

At 31 January 2025, £243,515 (2024 - £111,671) was owed to Mounds Holiday Park Limited, a company with directors in common with Lyons Holiday Park Limited. The loan is interest free and repayable on demand.

Directors' Current Accounts
Directors' current account balances included in creditors at the year end total £513,504 (2024 - £14,073 debtor). The balances are interest free and repayable on demand.

During the year it was identified that certain additions to fixed assets had been posted to cost of sales in error. This has been corrected by a prior period adjustment, reducing cost of sales and increasing administrative costs by the related depreciation charges.