REGISTERED NUMBER: 08764487 (England and Wales)

Preston Caravans and Motorhomes Limited

Strategic Report, Report of the Directors and

Audited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

AG Campbell

C Campbell

AC Hulme

CS Parr

KL Campbell

RS Clarkson

REGISTERED OFFICE:

Blackpool Road

Near Clifton

Preston

Lancashire

PR4 0XL

REGISTERED NUMBER:

08764487 (England and Wales)

AUDITORS:

McMillan & Co LLP

Chartered Accountants and

Statutory Auditor

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

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

REVIEW OF BUSINESS

The company is focused on maintaining its' reputation as one of the best independent motorhome and caravan retailers in the country. It will achieve this by providing quality products at the very best price, with excellent customer service and to do all of this in a family run business.

The long term objective is to continue to grow the business and we will achieve this by bringing this high level of service to more new consumers around the country who are not being as well served by our competitors.

The company has been faced with unprecedented challenges over recent years starting with the Covid19 pandemic, followed by conflict in Ukraine and its effect on the supply chain and now the pressures on the UK economy and consumer spending. All of these have impacted both suppliers and customers alike. However, with proper management and with the continued support of its employees the company has again performed very well with sales for the year of £22.9m (2023: £29.1m) and has achieved pre-tax profits of £950k (2023: £1,236k). 2023 was a 16 month trading period from 1 September 2022 to 31 December 2023.

Net assets of the company have increased by £211k, after the payment of a dividend to Runshaw Holdings Limited of £500k (2023: £1,250k). At the year end there was net cash of £928k (2023: £1,169k), which is a very healthy position considering the stock that has been purchased. Year end stock stood at £11,006k (2023: £6,728k).

The company is a member of the Runshaw Holdings Limited group of companies and for a further understanding of the business as a whole reference should be made to the consolidated financial statements and the group's strategic report.

KEY PERFORMANCE INDICATORS

The directors monitor the performance of the company on the following Key Performance Indicators ("KPI's");

Year ended

16 months ended

2024

2023

Gross profit

14.6%

15.3%

EBITDA

£990k

£1,232k

PRINCIPAL RISKS AND UNCERTAINTIES

At the present time the directors and management are faced with several principal risks to the business:

-

Inflation, cost of living and commodity prices - these issues have impacted both people and business and have impacted personal disposable incomes and company profits. The increased cost of commodity prices for such as materials and fuel has been significant. These continued pressures will no doubt have an effect on both our suppliers and customers.

-

Cost of borrowing - interest rates rose steadily from 2022 to 2024 and have only started to ease back from 2025. This has affected both the company's funding costs and also the consumer who will frequently use finance to purchase our products.

-

Global economics - following the lection of a new US President in late 2024 there has been a raft of new legislation and tariffs imposed on global trade, leading to price uncertainty and inflation.

-

Conflicts around the world - at the time of finalising these financial statements the tragic conflicts in Ukraine and the Middle East were still not resolved. The social and economic impacts of this are being felt globally and this will have repercussions for the UK consumer and economy for a long time to come.

Directors and management are also faced with other risks and uncertainties associated with running a business employing dozens of staff and dealing with hundreds of suppliers and customers and they employ specialists to deal with these concerns as they arise. The company regularly monitors these and all other risks as part of its key management processes.

However, the directors believe that the company is well placed to weather these storms as it enjoys a low level of operational gearing. In line with this the company always maintains a significant cash reserve which allows it to trade through any downturn in the economic cycle but also to quickly take advantage of any investment opportunity that may arise.

It should also been remembered that the company has access to Group cash funds should they be required.

Reference should be made to the group's report and financial statements for those risks affecting the group as a whole.

ON BEHALF OF THE BOARD:

AG Campbell - Director

4 December 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 the retailing of new and used caravans and motorhomes and associated accessories in the UK.

DIVIDENDS

During the year the company paid dividends to the parent undertaking totalling £500,000 (2023: £1,250,000).

FUTURE DEVELOPMENTS

The company intends to continue with the policies that have proven to be successful so far and it will continue to search for opportunities to grow in the medium to long term.

DIRECTORS

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

AG Campbell

C Campbell

AC Hulme

CS Parr

KL Campbell

RS Clarkson

EMPLOYEES

Details of the number of employees and related costs are included within the notes to the financial statements.

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of an employee becoming disabled every effort is made to ensure that their employment with the company continues and that appropriate training and support is given. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical with that of other employees. The company has policies and practices to keep employees informed on matters relevant to them as employees through regular meetings and other communications. Employee representatives are consulted regularly on a wide range of matters affecting their interests.

ENVIRONMENTAL

The company recognises the importance of its environmental responsibilities, monitors its impact on the environment and designs and implements policies to reduce any damage that might be caused by the company's activities. Such initiatives include the recycling of as much packaging material and other items as practically possible and reducing energy consumption.

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

AUDITORS

The auditors, McMillan & Co LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

AG Campbell - Director

4 December 2025

Opinion

We have audited the financial statements of Preston Caravans and Motorhomes 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 and 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 five, 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

-

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-

we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

-

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

-

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-

identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

-

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships; and

-

tested journal entries to identify unusual transactions,

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

reading the minutes of meetings of those charged with governance;

-

enquiring of management as to actual and potential litigation and claims; and

-

reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

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.

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.

Andrea Gerring FCA (Senior Statutory Auditor)

for and on behalf of McMillan & Co LLP

Chartered Accountants and

Statutory Auditor

4 December 2025

TURNOVER

4

22,862,968

29,063,739

Cost of sales

19,525,565

24,620,203

GROSS PROFIT

3,337,403

4,443,536

Administrative expenses

2,461,294

3,375,286

876,109

1,068,250

Other operating income

93,371

136,706

OPERATING PROFIT

6

969,480

1,204,956

Interest receivable and similar income

31,274

31,590

1,000,754

1,236,546

Interest payable and similar expenses

7

50,476

946

PROFIT BEFORE TAXATION

950,278

1,235,600

Tax on profit

8

239,487

280,838

PROFIT FOR THE FINANCIAL YEAR

710,791

954,762

PROFIT FOR THE YEAR

710,791

954,762

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

710,791

954,762

FIXED ASSETS

Tangible assets

10

36,623

57,390

CURRENT ASSETS

Stocks

11

11,006,374

6,728,248

Debtors

12

1,186,010

2,257,735

Cash at bank

927,538

1,168,913

13,119,922

10,154,896

CREDITORS

Amounts falling due within one year

13

9,686,896

6,944,578

NET CURRENT ASSETS

3,433,026

3,210,318

TOTAL ASSETS LESS CURRENT LIABILITIES

3,469,649

3,267,708

CREDITORS

Amounts falling due after more than one year

14

(8,601

)

(14,211

)

PROVISIONS FOR LIABILITIES

16

(8,615

)

(11,855

)

NET ASSETS

3,452,433

3,241,642

CAPITAL AND RESERVES

Called up share capital

17

1,400,000

1,400,000

Other reserves

18

734,751

734,751

Retained earnings

18

1,317,682

1,106,891

SHAREHOLDERS' FUNDS

3,452,433

3,241,642

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2025 and were signed on its behalf by:

AG Campbell - Director

Called up

share

Retained

Other

Total

capital

earnings

reserves

equity

£

£

£

£

Balance at 1 September 2022

1,400,000

1,402,129

734,751

3,536,880

Changes in equity

Dividends

-

(1,250,000

)

-

(1,250,000

)

Total comprehensive income

-

954,762

-

954,762

Balance at 31 December 2023

1,400,000

1,106,891

734,751

3,241,642

Changes in equity

Dividends

-

(500,000

)

-

(500,000

)

Total comprehensive income

-

710,791

-

710,791

Balance at 31 December 2024

1,400,000

1,317,682

734,751

3,452,433

1.	STATUTORY INFORMATION

Preston Caravans and Motorhomes 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.

The presentation currency of the financial statements is the Pound Sterling (£) and the amounts in the financial statements have been rounded to the nearest £1.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Significant judgements and estimates

In determining the carrying amounts of certain assets and liabilities, the company makes calculated assumptions based on the effects of uncertain future events on those assets and liabilities at the balance sheet date. The company's estimates and assumptions are based on historical experience and expectations of future events and are reviewed periodically.

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 cost

Motor vehicles

-

25% on cost

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 instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals and any borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.

TURNOVER

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

An analysis of turnover by geographical market is given below:

Period

1/9/22

Year Ended

to

31/12/24

31/12/23

£

£

United Kingdom

22,784,102

29,003,906

Overseas

78,866

59,833

22,862,968

29,063,739

5.	EMPLOYEES AND DIRECTORS

Period

1/9/22

Year Ended

to

31/12/24

31/12/23

£

£

Wages and salaries

1,370,600

1,661,256

Social security costs

135,586

178,254

Other pension costs

21,391

27,132

1,527,577

1,866,642

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

Period

1/9/22

Year Ended

to

31/12/24

31/12/23

Sales and customer service

17

16

Workshop

17

17

Management and administration

11

11

45

44

Period

1/9/22

Year Ended

to

31/12/24

31/12/23

£

£

Directors' remuneration

346,135

374,061

Directors' pension contributions to money purchase schemes

2,619

3,613

Information regarding the highest paid director is as follows:

Period

1/9/22

Year Ended

to

31/12/24

31/12/23

£

£

Emoluments etc

77,500

128,847

Pension contributions to money purchase schemes

-

1,761

6.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1/9/22

Year Ended

to

31/12/24

31/12/23

£

£

Depreciation - owned assets

20,767

27,214

Auditors' remuneration

9,000

10,000

Auditors' remuneration for non audit work

9,000

10,000

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1/9/22

Year Ended

to

31/12/24

31/12/23

£

£

Finance company interest

659

946

Loan

41,169

-

Interest on tax paid late

8,648

-

50,476

946

8.

TAXATION

Analysis of the tax charge

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

Period

1/9/22

Year Ended

to

31/12/24

31/12/23

£

£

Current tax:

UK corporation tax

242,727

274,935

Deferred tax

(3,240

)

5,903

Tax on profit

239,487

280,838

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period

1/9/22

Year Ended

to

31/12/24

31/12/23

£

£

Profit before tax

950,278

1,235,600

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 22.729%)

237,570

280,840

Effects of:

Adjustments to tax charge in respect of previous periods

1,917

(2

)

Total tax charge

239,487

280,838

9.

DIVIDENDS

Period

1/9/22

Year Ended

to

31/12/24

31/12/23

£

£

Dividends paid

500,000

1,250,000

10.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

153,404

26,355

179,759

DEPRECIATION

At 1 January 2024

98,198

24,171

122,369

Charge for year

20,142

625

20,767

At 31 December 2024

118,340

24,796

143,136

NET BOOK VALUE

At 31 December 2024

35,064

1,559

36,623

At 31 December 2023

55,206

2,184

57,390

Included within the net book value of fixed assets are assets totalling £12,744 (2023: £18,856) which are subject to hire purchase contracts. The depreciation charged on these assets in the year was £6,112 (2023: £6,112).

11.

STOCKS

2024

2023

£

£

Stock

11,006,374

6,728,248

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

160,147

24,419

Amounts owed by group undertakings

180,780

984,484

Amounts due from related

party undertaking

627,978

993,848

Prepayments, accrued income

and other debtors

217,105

254,984

1,186,010

2,257,735

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 15)

5,501

5,501

Customer deposits and

payments on account

433,563

530,249

Trade creditors

7,625,021

5,783,326

Corporation tax

252,618

274,935

Social security and other taxes

30,566

32,837

VAT

308,048

33,574

Amounts due to related party undertaking

80,833

-

Pension scheme loan

655,109

-

Directors' current accounts

56,438

93,963

Other creditors & accruals

239,199

190,193

9,686,896

6,944,578

The directors' current accounts are unsecured and have no fixed repayment term.

Included within other creditors is a loan of £655,109 (2023: £nil) due to the Preston Caravans and Motorhomes Limited Pension Scheme. This loan is repayable in equal monthly installments to 2029 and interest is payable at normal commercial rates. As no formal repayment agreement has been signed, the loan has been classified as due within one year. On the expected rate of repayment, £519,726 would be due in more than one year.

14.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 15)

8,601

14,211

15.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

5,501

5,501

Between one and five years

8,601

14,211

14,102

19,712

Non-cancellable

operating leases

2024

2023

£

£

Within one year

25,211

20,388

Between one and five years

11,417

31,134

36,628

51,522