Registration number:
Y C Leisure Limited
for the Year Ended 31 March 2025
Y C Leisure Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account and Statement of Retained Earnings |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Y C Leisure Limited
Company Information
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Director |
Mr J Goulden |
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Registered office |
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Auditors |
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Y C Leisure Limited
Strategic Report for the Year Ended 31 March 2025
The director presents his strategic report for the year ended 31 March 2025.
Principal activity
The principal activity of the company is an intermediate holding and management company.
Fair review of the business
The director considers that the results for the year and the financial position at the end of the year were satisfactory.
While current market conditions remain challenging the director believes there are still opportunities for profitable growth.
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Turnover |
£ |
50,000 |
50,000 |
|
Investment property fair value gains through profit and loss |
£ |
- |
10,000 |
|
Income from shares in group undertakings |
£ |
580,000 |
150,000 |
|
Profit before tax |
£ |
590,039 |
165,668 |
|
Net assets |
£ |
4,710,683 |
4,432,311 |
Principal risks and uncertainties
The principal risks and uncertainties faced by the company are the general uncertain economic climate in which it currently trades.
Approved and authorised by the
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......................................... |
Y C Leisure Limited
Director's Report for the Year Ended 31 March 2025
The director presents his report and the financial statements for the year ended 31 March 2025.
Director of the company
The director who held office during the year was as follows:
Dividends
During the year interim dividends of £310,000 were paid. The directors do not recommend a final dividend be made in respect of the financial year ended 31 March 2025.
Financial instruments
Objectives and policies
The company's principal financial instruments comprise intergroup debtors and intergroup creditors. The purposes of these instruments is to finance the company's business operations. The directors do not consider that the company has any significant financial risks other than those normal commercial risks arising from its trading operations. Such risks are managed so as to permit the smooth operation of the business.
Price risk, credit risk, liquidity risk and cash flow risk
Most sales are to other group members and accordingly the company has not entered into any hedging arrangements in respect of risks relating to trade debtors and creditors.
Disclosure of information to the auditors
The director has taken 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 company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Approved and authorised by the
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......................................... |
Y C Leisure Limited
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.
Y C Leisure Limited
Independent Auditor's Report to the Members of Y C Leisure Limited
Opinion
We have audited the financial statements of Y C Leisure Limited (the 'company') for the year ended 31 March 2025, which comprise the Profit and Loss Account and Statement of Retained Earnings, Statement of 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 March 2025 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 auditor 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 director's 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 original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The director is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Y C Leisure Limited
Independent Auditor's Report to the Members of Y C Leisure Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our 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 and the Director's Report.
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 director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 4], the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor 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 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.
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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• |
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
Y C Leisure Limited
Independent Auditor's Report to the Members of Y C Leisure Limited
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. |
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. |
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Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. |
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Y C Leisure Limited
Independent Auditor's Report to the Members of Y C Leisure Limited
The extent to which the audit was considered capable of detecting irregularities including fraud
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 audit team collectively had the appropriate competence, capability 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 caravan, motorhomes, awnings and leisure accessories retail industry;
• 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, data protections legislation, employment law and 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
• The audit team remained alert to the possibility of non-compliance with laws and regulations 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;
• Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
• Considering what motivations and opportunities for fraud may exist within the company.
To address the risk of fraud through management bias and override of controls, we:
• Performed analytical procedures to identify any unusual or unexpected relationships;
• Reviewed journal entries to identify unusual transactions vouching to supporting documentation where appropriate;
• Reviewed the company’s bank nominal for any significant or unusual transactions vouching to supporting documentation where appropriate;
• Assessed whether the judgements and assumptions made in determining any accounting estimates used in preparing the accounts were indicative of bias; and
• We maintained an approach of professional scepticism throughout the audit; recognising the possibility of a material misstatement due to facts or behaviour indicating irregularities (including fraud) or error, notwithstanding our past experience of the honesty and integrity of the company's management.
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;
• Enquiring of management as to actual and potential litigation and claims;
• Reviewing correspondence with HMRC; and
• Reviewing legal expenses both during and after the year for any items indicative of ongoing litigation and potential claims.
Y C Leisure Limited
Independent Auditor's Report to the Members of Y C Leisure Limited
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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For and on behalf of
Doncaster
South Yorkshire
DN1 2HJ
Y C Leisure Limited
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2025
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Note |
2025 |
2024 |
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|
Turnover |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating profit |
|
|
|
|
Investment property fair value adjustments through profit and loss |
- |
|
|
|
Income from shares in group undertakings |
|
|
|
|
Interest payable and similar charges |
( |
( |
|
|
547,059 |
122,010 |
||
|
Profit before tax |
|
|
|
|
Taxation |
( |
( |
|
|
Profit for the financial year |
|
|
|
|
Retained earnings brought forward |
4,103,061 |
4,038,970 |
|
|
Dividends paid |
( |
( |
|
|
Retained earnings carried forward |
4,381,433 |
4,103,061 |
Y C Leisure Limited
Statement of Comprehensive Income for the Year Ended 31 March 2025
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2025 |
2024 |
|
|
Profit for the year |
|
|
|
Total comprehensive income for the year |
|
|
Y C Leisure Limited
(Registration number: 04929915)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Investment property |
|
|
|
|
Investments |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
400 |
400 |
|
|
Other reserves |
328,850 |
328,850 |
|
|
Retained earnings |
4,381,433 |
4,103,061 |
|
|
Shareholders' funds |
4,710,683 |
4,432,311 |
Approved and authorised by the
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Y C Leisure Limited
Statement of Changes in Equity for the Year Ended 31 March 2025
|
Share capital |
Non-distributable reserve |
Retained earnings |
Total |
|
|
At 1 April 2024 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
At 31 March 2025 |
|
|
|
|
|
Share capital |
Non-distributable reserve |
Retained earnings |
Total |
|
|
At 1 April 2023 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
At 31 March 2024 |
400 |
328,850 |
4,103,061 |
4,432,311 |
Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements have been prepared in pounds sterling which is the functional currency of the company.
Summary of disclosure exemptions
An exemption has been claimed under Section 7 of FRS 102 to opt out of preparing a cash flow statement. The cash flows of the company are included in the group's consolidated financial statements.
Name of parent of group
These financial statements are consolidated in the financial statements of Yorkshire Caravans Group Limited.
The financial statements of Yorkshire Caravans Group Limited may be obtained from the registered office.
Exemption from preparing group accounts
The financial statements contain information about Y C Leisure Limited as an individual company and do not contain consolidated financial information as the parent of a group.
The company is exempt under section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Yorkshire Caravans Group Limited.
Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Investment property
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Investments in subsidiaries are held at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the company's accounting policies, which are described in note 2, the director is required to make judgements (other than those involving estimations) that have a significant impact on the amounts recognised and to make estimates and assumptions about the carrying amounts of assets and liabilities that are not 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 if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.
Critical Judgements
As described in note 9 to the financial statements, investment property was valued as at 31 March 2024 on 24 October 2024 by Tom Horrox and Danny Latimer of Collier International Property Consultants Limited. The director considers that this valuation reflects the fair value of the property at the balance sheet date. However, market conditions, including interest rates and inflation, have caused uncertainty in the UK property market which has inevitably increased the degree of judgement involved in this property valuation. |
Key sources of estimation uncertainty
As disclosed in note 13, the company has a provision for deferred tax. This represents the director's best estimate of the tax that the company would be due to pay were it to sell its investment property at its year end balance sheet value. This estimate has been based on the tax rules that are expected to be in place going forwards and the director's best estimate of when costs relating to the premises were incurred. However, tax legislation is subject to change and can be dependent on the specific arrangements or specific conditions surrounding any such sale. As such deferred tax is considered a key sources of estimation uncertainty at the balance sheet date which may cause a material adjustment to the carrying amount of assets and liabilities in future sets of financial statements
The carrying amount is £628,066 (2024 -£628,066).
|
Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Rendering of services |
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest expense on other finance liabilities |
- |
|
|
|
|
Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Staff costs |
The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Other departments |
|
|
|
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
( |
- |
|
1,667 |
888 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
- |
|
|
Tax expense in the income statement |
|
|
Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2024 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Decrease in UK and foreign current tax from adjustment for prior periods |
( |
- |
|
Tax decrease arising from group relief |
( |
( |
|
Tax decrease from effect of dividends from UK companies |
( |
( |
|
Tax decrease from effect of indexation allowance on capital gains |
- |
( |
|
Total tax charge |
|
|
Deferred tax
Deferred tax has been recognised at 25% (2024 - 25%) in line with the corporation tax rates expected to be in force when the associated timing differences reverse.
Deferred tax assets and liabilities
|
2025 |
Liability |
|
Accelerated tax depreciation |
|
|
|
|
2024 |
Liability |
|
Accelerated tax depreciation |
|
|
|
Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Investment properties |
|
2025 |
|
|
At 1 April |
|
|
At 31 March |
|
The investment property was valued on a fair value basis as at 31 March 2024 on 24 October 2024 by Tom Horrox MRICS and Danny Latimer MRICS of Collier's International Property Consultants Limited.
The director considers that this valuation continues to reflect the fair value of the property at 31 March 2025.
The company's bank borrowings are secured against the company's investment property.
Had investment property not been revalued it would be held at it's cost to the company of £3,907,244 (2024 £3,907,244).
Carrying amount of investment property rented to another group entity
The carrying amount of investment property rented to another group entity was
£
|
Investments |
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 April 2024 |
|
|
At 31 March 2025 |
|
|
Provision |
|
|
At 1 April 2024 |
- |
|
At 31 March 2025 |
- |
|
Carrying amount |
|
|
At 31 March 2025 |
|
|
At 31 March 2024 |
|
Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2025 |
2024 |
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Subsidiary undertakings |
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Great North Road
England |
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Doncaster Road
England |
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Subsidiary undertakings |
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Yorkshire Caravans & Motorhomes Limited The principal activity of Yorkshire Caravans & Motorhomes Limited is |
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Panelworks Limited The principal activity of Panelworks Limited is |
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Debtors |
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Note |
2025 |
2024 |
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Amounts owed by related parties |
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Prepayments |
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Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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Creditors |
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Amounts due to related parties |
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Social security and other taxes |
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Accruals |
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Corporation tax |
1,880 |
888 |
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Due after one year |
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Loans and borrowings |
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Provisions for liabilities |
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Deferred tax |
Total |
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At 1 April 2024 |
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At 31 March 2025 |
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Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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96 |
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96 |
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304 |
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304 |
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Rights, preferences and restrictions
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Ordinary shares have the following rights, preferences and restrictions: |
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A Ordinary shares have the following rights, preferences and restrictions: |
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Bank borrowings
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Bank borrowings are repayable in monthly or quarterly instalments and are secured by way of a charge over the company's assets and undertakings.
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Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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Dividends |
Interim dividends paid
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2025 |
2024 |
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Interim dividends - |
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Interim dividends - |
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Financial guarantee contracts |
The company has provided a guarantee over part of Yorkshire Caravans & Motorhomes Limited's stocking loan borrowings. At the year end borrowings of £1,949,000 (2024 £1,498,647) were covered by this guarantee. No liability is expected to arise.
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Related party transactions |
Dividends paid to the director
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2025 |
2024 |
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Mr J Goulden |
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Dividends paid |
74,400 |
24,000 |
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Summary of transactions with parent
Included in amounts owed by related parties is £1,391 (2024 £5,861) due from Y C Holdings Limited.
Included in amounts owed by related parties is £573,021 (2024 £492,088) due from Yorkshire Caravans Group Limited.
Amounts owed by parent companies are unsecured, interest free and repayable on demand.
During the year the company paid dividends of £235,600 (2024 £76,000) to YC Holdings Limited.
Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Summary of transactions with subsidiaries
Included in amounts owed to related parties is £2,963 (2024 £47,180) due to Yorkshire Caravans & Motorhomes Limited.
Amounts owed to Yorkshire Caravans & Motorhomes Limited are unsecured, interest free and repayable on demand.
During the year the company received dividends of £580,000 (2024 £150,000) from Yorkshire Caravans & Motorhomes Limited.
Yorkshire Caravans & Motorhomes Limited operates from property owned by Y C Leisure Limited. No rent is charged.
Income and receivables from related parties
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2025 |
Subsidiary |
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Receipt of services |
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2024 |
Subsidiary |
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Receipt of services |
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Expenditure with and payables to related parties
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2025 |
Subsidiary |
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Rendering of services |
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2024 |
Subsidiary |
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Rendering of services |
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Y C Leisure Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The parent of the largest group in which these financial statements are consolidated is
The address of Yorkshire Caravans Group Limited is:
Bawtry
Doncaster
South Yorkshire
DN10 6DG