REGISTERED NUMBER: 02079462 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

LUXIHOMES LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

to

4

Report of the Independent Auditor

5

to

7

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

to

11

Company Balance Sheet

12

to

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

to

18

Notes to the Consolidated Financial Statements

19

to

32

DIRECTORS:

J G Hesp

M Gillett

K R Smalley

A P Machin

SECRETARY:

Mrs A J Hesp

REGISTERED OFFICE:

Bridlington Caravan Centre

Bessingby Way

Bessingby Industrial Estate

BRIDLINGTON

E. Yorks

YO16 4SJ

REGISTERED NUMBER:

02079462 (England and Wales)

AUDITOR:

Rusling & Co Limited

The Bloc

Springfield Way

Anlaby

Hull

E. Yorks

HU10 6RJ

The directors present their strategic report of the company and the group for the year ended 31 January 2025.

REVIEW OF BUSINESS

The business, while secure, was highly affected by the current national economic downturn, and its recent growth was slowed as a result. Trading was difficult but the company still managed to record a profit for the financial year.

It is the belief of the board that while they anticipate another slow year to 31st January 2026, they believe that with operational decisions made and developments after the date of the accounts, they are in a very strong position going forward.

PRINCIPAL RISKS AND UNCERTAINTIES

On 1st April 2025 the company bought a similar sized company Ideal Caravans Limited. They hold a market similar to the company but in a geographical area between the East Riding and the Scottish borders meaning the coverage of the combined company now covers all of the north of England.

This and development of Flowery Dell will see the company strong for years to come.

ON BEHALF OF THE BOARD:

M Gillett - Director

31 October 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 January 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the sale, transport and siting of caravans and lodges.

DIVIDENDS

No dividends will be distributed for the year ended 31 January 2025.

FUTURE DEVELOPMENTS

On 1st April 2025 the company bought a similar sized company Ideal Caravans Limited. They hold a market similar to the company but in a geographical area between the East Riding and the Scottish borders meaning the coverage of the combined company now covers all of the north of England.

This and development of Flowery Dell will see the company strong for years to come.

DIRECTORS

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

J G Hesp

M Gillett

K R Smalley

A P Machin

RISK AND UNCERTAINTIES

Luxihomes and the caravan industry are experiencing challenging times due to high stock levels leading to the likelihood of higher discounts and therefore reduced margins with the potential for occasional stock losses. As a precautionary measure Luxihomes has made a provision of £385,000 to accommodate such losses if required, hence the reduction in pre-tax profits from the expected £500,000.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditor is 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 group's auditor is aware of that information.

AUDITOR

The auditor, Rusling & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M Gillett - Director

31 October 2025

Opinion

I have audited the financial statements of Luxihomes Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In my opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 January 2025 and of the group's loss 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

I conducted my audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. My responsibilities under those standards are further described in the Auditor responsibilities for the audit of the financial statements section of my report. I am independent of the group in accordance with the ethical requirements that are relevant to my audit of the financial statements in the UK, including the FRC's Ethical Standard, and I have fulfilled my other ethical responsibilities in accordance with these requirements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion.

Conclusions relating to going concern

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and my Report of the Auditor thereon.

My opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in my report, I do not express any form of assurance conclusion thereon.

In connection with my audit of the financial statements, my responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or my knowledge obtained in the audit or otherwise appears to be materially misstated. If I identify such material inconsistencies or apparent material misstatements, I am required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work I have performed, I conclude that there is a material misstatement of this other information, I am required to report that fact. I have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which I am required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, I have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

I have nothing to report in respect of the following matters where the Companies Act 2006 requires me to report to you if, in my opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for my audit have not been received from branches not visited by me; 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

-	I have not received all the information and explanations I require for my audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on pages three and four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

My 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 Auditor that includes my 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 my procedures are capable of detecting irregularities, including fraud is detailed below:

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, 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, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed 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 are to become aware of it.

A further description of my 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 my Report of the Auditor.

Use of my 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. My audit work has been undertaken so that I might state to the company's members those matters I am required to state to them in a Report of the Auditor and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's members as a body, for my audit work, for this report, or for the opinions I have formed.

Andrew Rusling, FCA (Senior Statutory Auditor)

for and on behalf of Rusling & Co Limited

The Bloc

Springfield Way

Anlaby

Hull

E. Yorks

HU10 6RJ

31 October 2025

TURNOVER

10,843,436

11,842,068

Cost of sales

9,375,083

10,408,115

GROSS PROFIT

1,468,353

1,433,953

Distribution costs

320,857

361,230

Administrative expenses

1,250,427

1,121,061

1,571,284

1,482,291

OPERATING LOSS

4

(102,931

)

(48,338

)

Income from interest in associated undertakings

59,185

(31,841

)

Interest receivable and similar income

26,462

44,164

85,647

12,323

(17,284

)

(36,015

)

Interest payable and similar expenses

5

252,070

81,967

LOSS BEFORE TAXATION

(269,354

)

(117,982

)

Tax on loss

6

(5,209

)

20,768

LOSS FOR THE FINANCIAL YEAR

(264,145

)

(138,750

)

Loss attributable to:

Owners of the parent

(264,145

)

(138,750

)

LOSS FOR THE YEAR

(264,145

)

(138,750

)

OTHER COMPREHENSIVE INCOME

Fair value adjustment

-

2,290,765

Income tax relating to other comprehensive income

-

(223,583

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

2,067,182

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(264,145

)

1,928,432

Total comprehensive income attributable to:

Owners of the parent

(264,145

)

1,928,432

FIXED ASSETS

Intangible assets

9

1,386,460

1,550,915

Tangible assets

10

7,293,846

7,334,538

Investments

11

Interest in joint venture

Share of gross assets

1,313,616

955,841

Share of gross liabilities

(1,317,191

)

(1,018,601

)

8,676,731

8,822,693

CURRENT ASSETS

Stocks

12

4,020,136

6,747,267

Debtors

13

2,537,121

2,697,808

Cash at bank

500,784

937,524

7,058,041

10,382,599

CREDITORS

Amounts falling due within one year

14

5,394,358

8,456,753

NET CURRENT ASSETS

1,663,683

1,925,846

TOTAL ASSETS LESS CURRENT LIABILITIES

10,340,414

10,748,539

CREDITORS

Amounts falling due after more than one year

15

(4,022,276

)

(4,156,854

)

PROVISIONS FOR LIABILITIES

19

(452,964

)

(463,166

)

NET ASSETS

5,865,174

6,128,519

CAPITAL AND RESERVES

Called up share capital

20

3,300

2,500

Capital redemption reserve

21

2,500

2,500

Fair value reserve

21

2,211,577

2,211,577

Retained earnings

21

3,647,797

3,911,942

SHAREHOLDERS' FUNDS

5,865,174

6,128,519

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by:

M Gillett - Director

J G Hesp - Director

FIXED ASSETS

Intangible assets

9

42,914

39,426

Tangible assets

10

4,382,846

4,390,666

Investments

11

1,981,297

1,981,297

6,407,057

6,411,389

CURRENT ASSETS

Stocks

12

4,008,488

6,737,958

Debtors

13

2,517,985

2,683,333

Cash at bank

486,595

915,953

7,013,068

10,337,244

CREDITORS

Amounts falling due within one year

14

4,849,237

8,092,233

NET CURRENT ASSETS

2,163,831

2,245,011

TOTAL ASSETS LESS CURRENT LIABILITIES

8,570,888

8,656,400

CREDITORS

Amounts falling due after more than one year

15

(3,087,288

)

(3,188,260

)

PROVISIONS FOR LIABILITIES

19

(415,066

)

(425,268

)

NET ASSETS

5,068,534

5,042,872

CAPITAL AND RESERVES

Called up share capital

20

2,500

2,500

Capital redemption reserve

21

2,500

2,500

Fair value reserve

21

815,144

815,144

Retained earnings

21

4,248,390

4,222,728

SHAREHOLDERS' FUNDS

5,068,534

5,042,872

Company's profit for the financial year

25,662

91,067

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by:

M Gillett - Director

J G Hesp - Director

Called up

Capital

Fair

share

Retained

redemption

value

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 February 2023

2,500

4,468,116

2,500

144,395

4,617,511

Changes in equity

Dividends

-

(417,424

)

-

-

(417,424

)

Total comprehensive income

-

(138,750

)

-

2,067,182

1,928,432

Balance at 31 January 2024

2,500

3,911,942

2,500

2,211,577

6,128,519

Changes in equity

Issue of share capital

800

-

-

-

800

Total comprehensive income

-

(264,145

)

-

-

(264,145

)

Balance at 31 January 2025

3,300

3,647,797

2,500

2,211,577

5,865,174

Called up

Capital

Fair

share

Retained

redemption

value

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 February 2023

2,500

4,499,085

2,500

144,395

4,648,480

Changes in equity

Dividends

-

(367,424

)

-

-

(367,424

)

Total comprehensive income

-

91,067

-

670,749

761,816

Balance at 31 January 2024

2,500

4,222,728

2,500

815,144

5,042,872

Changes in equity

Total comprehensive income

-

25,662

-

-

25,662

Balance at 31 January 2025

2,500

4,248,390

2,500

815,144

5,068,534

Cash flows from operating activities

Cash generated from operations

1

73,341

(1,120,138

)

Interest paid

(252,070

)

(81,967

)

Tax paid

(11,592

)

(118,088

)

Net cash from operating activities

(190,321

)

(1,320,193

)

Cash flows from investing activities

Purchase of intangible fixed assets

(3,488

)

(2,005,173

)

Purchase of tangible fixed assets

(119,032

)

(410,236

)

Purchase of fixed asset investments

(59,185

)

31,841

Sale of tangible fixed assets

(1

)

18,150

Interest received

26,462

44,164

Dividends received

59,185

(31,841

)

Acquired through business combination

-

301,015

Net cash from investing activities

(96,059

)

(2,052,080

)

Cash flows from financing activities

New loans in year

-

1,925,000

Loan repayments in year

(139,223

)

-

Capital repayments in year

-

111,755

Amount withdrawn by directors

(1,850

)

-

Share issue

800

-

Equity dividends paid

-

(417,424

)

Net cash from financing activities

(140,273

)

1,619,331

Decrease in cash and cash equivalents

(426,653

)

(1,752,942

)

Cash and cash equivalents at beginning of year

2

927,179

2,680,121

Cash and cash equivalents at end of year

2

500,526

927,179

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

2025

2024

£

£

Loss before taxation

(269,354

)

(117,982

)

Depreciation charges

327,694

323,929

Loss/(profit) on disposal of fixed assets

294

(10,734

)

Finance costs

252,070

81,967

Finance income

(85,647

)

(12,323

)

225,057

264,857

Decrease/(increase) in stocks

2,727,131

(119,883

)

Decrease/(increase) in trade and other debtors

174,129

(865,566

)

Decrease in trade and other creditors

(3,052,976

)

(399,546

)

Cash generated from operations

73,341

(1,120,138

)

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 January 2025

31/1/25

1/2/24

£

£

Cash and cash equivalents

500,784

937,524

Bank overdrafts

(258

)

(10,345

)

500,526

927,179

Year ended 31 January 2024

31/1/24

1/2/23

£

£

Cash and cash equivalents

937,524

2,680,121

Bank overdrafts

(10,345

)

-

927,179

2,680,121