Light Group Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Light Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04871461 . The registered office is The Grange, Gloucester Road, Staverton, Cheltenham, GL51 0TF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Interest income is recognised in the Profit and Loss Account and Statement of Retained Earnings using the

effective interest method.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold

Not depreciated

2.4. Financial Instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out right short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, impairment loss is recognised in the Profit and Loss and Statement of Retained Earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an assets carrying amount and the present value of estimated cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

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Light Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.7. Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8. Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2024: 2)

4. Tangible Assets

	Land & Property
	Freehold
	£
Cost
As at 1 April 2024	13,519,934
Additions	1,561,932

As at 31 March 2025	15,081,866

Net Book Value
As at 31 March 2025	15,081,866

As at 1 April 2024	13,519,934

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Light Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 April 2024	811,686
Additions	80,569
Other	66,084

As at 31 March 2025	958,339

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	958,339

As at 1 April 2024	811,686

Details of subsidiary undertakings:

Light Developments Limited

Registered office address: The Grange, Gloucester Road, Staverton, Cheltenham, Gloucestershire, GL51 0TF

Proportion of ordinary shares held: 100%

Principal activity: The principal activity of the company is operation and management of static residential and holiday accommodation parks and the purchase and sale of such accommodation.

Formatsunny Limited

Registered office address: The Grange, Gloucester Road, Staverton, Cheltenham, Gloucestershire, GL51 0TF

Proportion of ordinary shares held: 100%

Principal activity: Non trading company

Investment in LLP

The profit share received during the year is based on the financial statements of Light Parks & Leisure LLP.

6. Debtors

	31 March 2025	31 March 2024
	£	£
Due within one year
Deferred tax current asset	5,001	5,319
Amounts owed by group undertakings	261,110	-

	266,111	5,319

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Light Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 March 2024
	£	£
Bank loans and overdrafts	572,687	641,775
Corporation tax	129,581	97,928
Other creditors	4,276	4,276
Accruals and deferred income	4,500	4,500
Amounts owed to group undertakings	650,001	112,116

	1,361,045	860,595

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

8. Creditors: Amounts Falling Due After More Than One Year

	31 March 2025	31 March 2024
	£	£
Bank loans	4,677,674	4,292,246

(a) Bank loan 1 of £Nil (2024: £114,843) bears interest at the rate of 2.34% above base rate and is

repayable in instalments until maturity. The bank loan is secured by a fixed and floating charge over certain of the company’s assets.

(b) Bank loan 2 of £265,591 (2024: £347,916) bears interest at the rate of 2.24% above base rate and is

repayable in instalments until maturity in March 2028. The bank loan is secured by a fixed and floating charge over certain of the company’s assets.

(c) Bank loan 3 of £426,279 (2024: £479,885) bears interest at the rate of 1.9% above base rate and is repayable in instalments until maturity in January 2031. The bank loan is secured by a fixed and floating charge over certain of the company’s assets.

(d) Bank loan 4 of £652,079 (2024: £728,609) bears interest at the rate of 2% above base rate and is repayable in instalments until maturity in November 2031. The bank loan is secured by a fixed and floating charge over certain of the company’s assets.

(e) Bank loan 5 of £2,307,011 (2024: £2,464,966) bears interest at the rate of 1.8% above base rate and is

repayable in instalments until maturity in March 2035 (terms are reviewed at March 2025). The bank loan is secured by a fixed and floating charge over certain of the company’s assets.

(f) Bank loan 6 of £407,839 (2024: £428,586) bears interest at the rate of 2.72% above base rate and is repayable in instalments until maturity in February 2037. The bank loan is secured by a fixed and floating charge over certain of the company’s assets.

(g) Bank loan 7 of £352,411 (2024: £369,216) bears interest at the rate of 2.72% above base rate and is repayable in instalments until maturity in July 2037. The bank loan is secured by a fixed and floating charge over certain of the company’s assets.

(h) Bank loan 8 of £839,151 (2024: £Nil) bears interest at the rate of 2.88% above base rate and is repayable in instalments until maturity in July 2037. The bank loan is secured by a fixed and floating charge over certain of the company’s assets.

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	31 March 2025		31 March 2024
	£		£
Bank loans	2,319,718		2,055,744

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Light Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Share Capital

	31 March 2025	31 March 2024
	£	£
Allotted, Called up and fully paid	4	4

10. Contingent Liabilities

The company has given gurantees to its bankers in respect of the bank overdraft and loans of Light Developments Limited. At 31 March 2025, the total bank borrowings of Light Developments Limited amounted to £130,660 (2024:£136,612).

11. Related Party Transactions

The company has charged rent and management charges of £795,750 (2024: £596,813) to Light Developments Limited, a subsidiary company. The company has received a dividend of £200,000 (2024: £300,000) from Light Development Limited, a subsidiary company.

At 31 March 2025, included in debtors is £209,110 (2024 creditor of: £112,116) due from Light Developments Limited. Included in debtors is £52,000 due from Light Uk Holdings Limited. These amounts are interest free, unsecured and have no fixed terms for repayment.

At 31 March 2025, incuded in creditors is £650,001 due to F&R Light Park Homes Limited and DHL Homes & Estates Limited. These amounts are interest free, unsecured and have no fixed terms for repayment.

The share of the profit received from Light Parks & Leisure LLP for the period amounted to £66,084 (2024: £13,154).

The directors have provided personal guarantees amounting to £200,000 (2024: £200,000) in respect of the company bank borrowings.

12. Ultimate Controlling Party

The company is a wholly owned subsidiary company of Light Uk Holdings Limited, a company incorporated in England and Wales, and owned and controlled together by Mr D F Light, Mrs M T Light, Mr D H Light and Mr F R R Light.

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		31 March 2025		31 March 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		15,081,866		13,519,934
Investments	5		958,339		811,686

			16,040,205		14,331,620
CURRENT ASSETS
Debtors	6	266,111		5,319
Cash at bank and in hand		943,094		1,459,087

		1,209,205		1,464,406
Creditors: Amounts Falling Due Within One Year	7	(1,361,045 )		(860,595 )

NET CURRENT ASSETS (LIABILITIES)			(151,840 )		603,811

TOTAL ASSETS LESS CURRENT LIABILITIES			15,888,365		14,935,431

Creditors: Amounts Falling Due After More Than One Year	8		(4,677,674 )		(4,292,246 )

NET ASSETS			11,210,691		10,643,185

CAPITAL AND RESERVES
Called up share capital	9		4		4
Profit and Loss Account			11,210,687		10,643,181

SHAREHOLDERS' FUNDS			11,210,691		10,643,185