ACCOUNTS - Final Accounts preparation

AUDITORS' REMUNERATION

During the year, the Group obtained the following services from the Company's auditors:

Registered number: 11451745

PRESTIGE COUNTRY PARKS LIMITED

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

PRESTIGE COUNTRY PARKS LIMITED

COMPANY INFORMATION

DIRECTORS	J A Knowles
	M W Knowles


REGISTERED NUMBER	11451745


REGISTERED OFFICE	C/O Prestige Country Parks
	Melbourne Road
	Allerthorpe
	York
	Yorkshire
	YO42 4RL


INDEPENDENT AUDITORS	GH Audit Limited
	Statutory Auditors
	Unit 1b, Focus 4
	Fourth Avenue
	Letchworth
	Hertfordshire
	SG6 2TU

PRESTIGE COUNTRY PARKS LIMITED

CONTENTS

	Page
Group Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditors' Report	5 - 8
Consolidated Statement of Comprehensive Income	9
Consolidated Balance Sheet	10
Company Balance Sheet	11
Consolidated Statement of Changes in Equity	12
Company Statement of Changes in Equity	13
Consolidated Statement of Cash Flows	14 - 15
Consolidated Analysis of Net Debt	16
Notes to the Financial Statements	17 - 37

PRESTIGE COUNTRY PARKS LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

INTRODUCTION

The Directors present their strategic report for the group for the year to 31 December 2024.

BUSINESS REVIEW

In common with other businesses in the holiday park sector, we faced a number of challenges in 2024; continuing inflation, competition with national and international tourism, and poor weather.

Inflation has been reduced slightly from 4.2% in the 12 months to December 2023 to 3.5% in the 12 months to December 2024, however, the continued effect has resulted in consumers continuing to cut back on discretionary spending and has tightened profit margins within the industry. Additionally, adverse weather has deterred individuals from booking holidays within the UK has driven consumers to look overseas for holidays reducing staycations.

Turnover in the year to 31 December 2024 grew by 8% (2023 – 8%). This continued increase has been benefited by the inclusion of Galtres Retreat & Lodge Park Ltd for the first whole year. The primary driver of the turnover increase is the improvement to unit sales during the year.

However, the cost of goods and services remain significantly higher than in previous year, this has resulted in a slight decrease to the Gross Margin to 33% (2023 - 39%) and lead to Operating Profit to fall from £3,067,672 to £1,887,274.

Despite these difficulties the group has managed their cash flows to enable the cash at bank to increase by £709k to £3,193,389 (2023 - £2,483,908). Due to the nature of the group's business of operating residential and holiday parks, the group enjoys a short debtor days period of 15 days (2023 - 13 days).

Although liquidity has fallen during the year to 104% (2023 – 137%), this is from the Group utilising longer credit terms available from suppliers. The Group continues to make good on its debt repayments.

In the previous year additional loans were used to fund the acquisition of Galtres Retreat & Lodge Park Ltd. This increased the gearing of the group to 56% for 2023. In the current year the group has repaid £1m of their outstanding finance, as finance costs represent a significant outgoing for the group this will benefit overall performance of the group into the future.

Despite the repayment of finance during the year gearing has increased further to 58% in the year. However, this has been driven by the use of hire purchase to finance the acquisition of fixed assets, showing the groups commitment to further improvement of their existing sites. This is further evidenced by applications for additional planning permission to increase the development of various parks.

The directors continue to be very pleased with the performance of the group in such challenging conditions. The business model is resilient and Prestige has good quality assets and a strong management team which have taken advantage of the rebounding selling environment.

Page 1

PRESTIGE COUNTRY PARKS LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

PRINCIPAL RISKS AND UNCERTAINTIES

The directors continually review all aspects of risk in the business and the hospitality market. The group faces all the usual risks facing a major hospitality business and considers the main risks to be:

Liquidity risk
The group manages liquidity risk by ensuring sufficient funds are available to meet foreseeable costs. The directors consider that the cash reserves are sufficient to finance short to medium term operations and has sufficient security to acquire additional loan financing to fund larger projects as required to meet the group's growth objectives.

Price risk
At the date of this report, there is still uncertainty as to the long term impact of various global and national events, such as Brexit and the Russia-Ukraine conflict. All these events have the potential to have a long lasting impact on the future economy and affect everything from fuel prices, exchange rates, interest rates, material prices, staff costs and availability, and future changes to tax rates. However, the directors continually monitor the group's costs and will take action wherever necessary to protect its stakeholders should any period of uncertainty continue for longer than expected.

Credit risk
The group's principal financial assets are cash and trade debtors. The credit risk associated with cash is limited as the group only uses reputable financial institutions. In order to manage credit risk on trade debtors the group secures the debts over the plots held by its residents, while turnover for holiday lets are collected in advance.

FINANCIAL KEY PERFORMANCE INDICATORS

The directors consider that the group's key performance indicators (KPIs) are those that communicate the financial performance and strength of the group as a whole to its members. The KPIs comprise revenue growth, gross margin and net margin.

OTHER KEY PERFORMANCE INDICATORS

The directors monitor other performance indicators such as occupancy rates and staff turnover to assess the success of the group and are satisfied that these KPIs are within expectations.

This report was approved by the board and signed on its behalf.

................................................

M W Knowles

Director

Date: 6 January 2026

Page 2

PRESTIGE COUNTRY PARKS LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The Directors present their report and the financial statements for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group continued to be that of residential and holiday mobile home parks.

DIRECTORS

The Directors who served during the year were:

J A Knowles

M W Knowles

DIRECTORS' RESPONSIBILITIES STATEMENT

The Directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 for the Group's financial statements 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 Group 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 the Group and to 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.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £182,929 (2023 - £1,818,560).

No ordinary dividends were paid in the year ended 31 December 2024 (2023 - £100,000). There were no final dividends.

MATTERS COVERED IN THE STRATEGIC REPORT

Items required to be disclosed under Schedule 7 in the directors report are set out in the strategic report in accordance with s.414C(11) CA 2006.

Page 3

PRESTIGE COUNTRY PARKS LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the Director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

∙the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

AUDITORS

The auditors, GH Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

M W Knowles

Director

Date: 6 January 2026

Page 4

PRESTIGE COUNTRY PARKS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PRESTIGE COUNTRY PARKS LIMITED

OPINION

We have audited the financial statements of Prestige Country Parks Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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 Group's and of the Parent Company's affairs as at 31 December 2024 and of the Group's 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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or 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.

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

Page 5

PRESTIGE COUNTRY PARKS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PRESTIGE COUNTRY PARKS LIMITED (CONTINUED)

OTHER INFORMATION

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

OPINION 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 Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group Strategic Report and the Directors' Report 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 Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or

∙the Parent Company financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of Directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

RESPONSIBILITIES OF DIRECTORS

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Directors are responsible for assessing the 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.

Page 6

PRESTIGE COUNTRY PARKS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PRESTIGE COUNTRY PARKS LIMITED (CONTINUED)

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 an Auditors' 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 Group financial statements.

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:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, we considered the following:

1. The nature of the industry and sector, control environment and business performance;
2. Reliance on external financing and the need to meet bank covenants;
3. Enquiries with management about their own identification and assessment of the risks of irregularities.

As a result of these procedures, the audit team considered the opportunities and incentives that may exist within the organisation for irregularities and identified the greatest potential for fraud in terms of misstatements in the financial statements was in relation to sales revenue. In common with all audits under ISA's (UK), we are also required to perform specific procedures to respond to the risk of management override. The assessment of the risk of fraud in terms of misappropriation of assets highlighted fraudulent supplier/bank payments as a focus area.

In addition we considered the legal and regulatory framework that the group operates in, focusing on provisions of these law and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. Key laws considered include the UK Companies Act and UK Tax Legislation We also considered those laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the companies ability to operate or to avoid a material penalty, these include Health & Safety Legislation.

Audit response to risks identified:
• Substantive testing was undertaken on the completeness of revenue by way of tracing the purchase of holiday units through to being invoiced/included in the financial statements.
• Standard procedures were used to test management override including the review of year end journals and whether the judgments made in making accounting estimates are indicative of potential bias.
• To cover the assessed risks in relation to fraudulent payments, we have undertaken an extended substantive test to cover purchases occurrence and also non-purchase ledger payments.
• We also perform analytical procedures to identify any unusual or unexpected relationship that may indicate risks of material misstatement due to fraud or other irregularities, these procedures also include the review of profit margins.
• We remained alert to any indications of fraud or non compliance throughout the entire audit process.

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.

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 Auditors' Report.

Page 7

PRESTIGE COUNTRY PARKS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PRESTIGE COUNTRY PARKS LIMITED (CONTINUED)

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 Auditors' 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.

Emma Wilsher FCA (Senior Statutory Auditor)

for and on behalf of

GH Audit Limited

Statutory Auditors

Unit 1b, Focus 4

Fourth Avenue

Letchworth

Hertfordshire

SG6 2TU

7 January 2026

Page 8

PRESTIGE COUNTRY PARKS LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£

Turnover	3	18,543,379	17,115,962
Cost of sales		(12,412,978)	(10,383,040)
Gross profit		6,130,401	6,732,922
Administrative expenses		(4,266,191)	(3,689,582)
Other operating income	4	23,064	24,332
Operating profit		1,887,274	3,067,672
Interest receivable and similar income	8	12,966	8,247
Interest payable and similar expenses	9	(890,500)	(613,324)
Revaluation of freehold property		(479,820)	-
Profit before taxation		529,920	2,462,595
Tax on profit	10	(346,991)	(644,035)
Profit for the financial year		182,929	1,818,560


Unrealised (deficit)/surplus on revaluation of tangible fixed assets	(2,623,155)	1,481,131
Deferred tax on revaluation of tangible fixed assets	324,587	(370,283)
Other comprehensive income for the year	(2,298,568)	1,110,848
Total comprehensive income for the year	(2,115,639)	2,929,408

Profit for the year attributable to:
Owners of the Parent Company	182,929	1,818,560
	182,929	1,818,560

Total comprehensive income for the year attributable to:
Owners of the Parent Company	(2,115,639)	2,929,408
	(2,115,639)	2,929,408

The notes on pages 17 to 37 form part of these financial statements.

Page 9

PRESTIGE COUNTRY PARKS LIMITED

REGISTERED NUMBER: 11451745

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	13		1,819,699		2,068,648
Tangible assets	14		29,238,535		30,699,010
			31,058,234		32,767,658
Current assets
Stocks	16	6,977,187		6,878,499
Debtors: amounts falling due within one year	17	2,220,171		1,861,716
Cash at bank and in hand		3,193,389		2,483,908
		12,390,747		11,224,123
Creditors: amounts falling due within one year	18	(11,941,389)		(8,177,386)
Net current assets			449,358		3,046,737
Total assets less current liabilities			31,507,592		35,814,395
Creditors: amounts falling due after more than one year	19		(9,117,576)		(10,999,226)
Provisions for liabilities
Deferred taxation	22		(3,221,229)		(3,530,743)
Net assets			19,168,787		21,284,426

Capital and reserves
Called up share capital	23	10,200	102
Revaluation reserve		5,768,367	8,066,935
Profit and loss account		13,390,220	13,217,389
Equity attributable to owners of the Parent Company		19,168,787	21,284,426
		19,168,787	21,284,426

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 January 2026.

................................................

M W Knowles

Director

The notes on pages 17 to 37 form part of these financial statements.

Page 10

PRESTIGE COUNTRY PARKS LIMITED

REGISTERED NUMBER: 11451745

COMPANY BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	13		4,457		8,736
Investments	15		8,082,420		8,086,485
			8,086,877		8,095,221
Current assets
Debtors: amounts falling due within one year	17	5,116,684		4,799,452
Cash at bank and in hand		21,017		122,169
		5,137,701		4,921,621
Creditors: amounts falling due within one year	18	(3,940,856)		(2,259,074)
Net current assets			1,196,845		2,662,547
Total assets less current liabilities			9,283,722		10,757,768

Creditors: amounts falling due after more than one year	19		(5,517,367)		(7,142,803)
Net assets			3,766,355		3,614,965

Capital and reserves
Called up share capital	23	10,200	102
Profit and loss account		3,756,155	3,614,863
		3,766,355	3,614,965

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 January 2026.

................................................

M W Knowles

Director

The notes on pages 17 to 37 form part of these financial statements.

Page 11

PRESTIGE COUNTRY PARKS LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2023	102	6,956,087	11,498,829	18,455,018
Comprehensive income for the year
Profit for the year	-	-	1,818,560	1,818,560
Surplus on revaluation of freehold property	-	1,481,131	-	1,481,131
Deferred tax on revaluations	-	(370,283)	-	(370,283)
Other comprehensive income for the year	-	1,110,848	-	1,110,848
Total comprehensive income for the year	-	1,110,848	1,818,560	2,929,408
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(100,000)	(100,000)

At 1 January 2024	102	8,066,935	13,217,389	21,284,426
Comprehensive income for the year
Profit for the year	-	-	182,929	182,929
Deficit on revaluation of freehold property	-	(2,623,155)	-	(2,623,155)
Deferred tax on revaluations	-	324,587	-	324,587
Other comprehensive income for the year	-	(2,298,568)	-	(2,298,568)
Total comprehensive income for the year	-	(2,298,568)	182,929	(2,115,639)
Contributions by and distributions to owners
Bonus issue	-	-	(10,098)	(10,098)
Shares issued during the year	10,098	-	-	10,098
Total transactions with owners	10,098	-	(10,098)	-
At 31 December 2024	10,200	5,768,367	13,390,220	19,168,787

The notes on pages 17 to 37 form part of these financial statements.

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PRESTIGE COUNTRY PARKS LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	102	3,506,446	3,506,548
Comprehensive income for the year
Profit for the year	-	208,417	208,417
Total comprehensive income for the year	-	208,417	208,417
Contributions by and distributions to owners
Dividends: Equity capital	-	(100,000)	(100,000)

At 1 January 2024	102	3,614,863	3,614,965
Comprehensive income for the year
Profit for the year	-	151,390	151,390
Total comprehensive income for the year	-	151,390	151,390
Contributions by and distributions to owners
Bonus issue	-	(10,098)	(10,098)
Shares issued during the year	10,098	-	10,098
Total transactions with owners	10,098	(10,098)	-
At 31 December 2024	10,200	3,756,155	3,766,355

The notes on pages 17 to 37 form part of these financial statements.

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PRESTIGE COUNTRY PARKS LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2024

				As restated
			2024	2023
			£	£

Cash flows from operating activities
Profit for the financial year	182,929	1,818,560
Adjustments for:
Amortisation of intangible assets	258,872	193,887
Depreciation of tangible assets	342,007	169,225
Loss on disposal of tangible assets	-	(1,721)
Interest paid	890,500	613,325
Interest received	(12,965)	(8,247)
Taxation charge	346,991	644,035
(Increase) in stocks	(28,375)	(2,347,195)
(Increase)/decrease in debtors	(294,551)	516,541
Increase/(decrease) in creditors	2,679,422	(425,791)
Revaluation of freehold property	479,820	-
Corporation tax (paid)	(458,883)	(1,127,692)
Net cash generated from operating activities	4,385,767	44,927

Cash flows from investing activities
Purchase of intangible fixed assets	(9,922)	(58,428)
Purchase of tangible fixed assets	(1,811,783)	(783,934)
Sale of tangible fixed assets	-	675,933
Purchase of fixed asset investments	-	(2,965,723)
Interest received	12,966	8,247
Net cash from investing activities	(1,808,739)	(3,123,905)

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PRESTIGE COUNTRY PARKS LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

			As restated
		2024	2023
		£	£


Cash flows from financing activities
New secured loans	-	4,175,000
Repayment of loans	(1,001,020)	(564,287)
Repayment of/new finance leases	(17,951)	(16,590)
Loans due from/(repaid to) directors	(36,255)	(224,869)
Dividends paid	-	(100,000)
Interest paid	(812,321)	(610,969)
Net cash used in financing activities	(1,867,547)	2,658,285
Net increase/(decrease) in cash and cash equivalents	709,481	(420,693)
Cash and cash equivalents at beginning of year	2,483,908	2,904,601
Cash and cash equivalents at the end of year	3,193,389	2,483,908

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	3,193,389	2,483,908

The notes on pages 17 to 37 form part of these financial statements.

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PRESTIGE COUNTRY PARKS LIMITED

CONSOLIDATED ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 DECEMBER 2024


At 1 January 2024	Cash flows	New finance leases	At 31 December 2024
£	£	£	£

Cash at bank and in hand	2,483,908	709,481	-	3,193,389
Debt due after 1 year	(7,142,803)	1,025,688	-	(6,117,115)
Debt due within 1 year	(4,690,680)	(46,771)	-	(4,737,451)
Finance leases	(35,164)	17,951	(243,034)	(260,247)
	(9,384,739)	1,706,349	(243,034)	(7,921,424)

The notes on pages 17 to 37 form part of these financial statements.

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PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

GENERAL INFORMATION

Prestige Country Parks Limited is a private Company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is C/O Prestige Country Parks Melbourne Road, Allerthorpe, York, Yorkshire, United Kingdom, YO42 4RL.

The principal activity of the Company continued to be that of a holding company.

The principal activity of the Group continued to be that of Residential and Holiday Mobile Home Parks.

The place of business is Allerthorpe Golf & Country Park, Melbourne Road, Allerthorpe, York, YO42 4RL.

The Company is the parent of the Prestige Country Parks Limited Group.

1.ACCOUNTING POLICIES

1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The Company's functional and presentational currency is Pounds sterling.

The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

1.2

BASIS OF CONSOLIDATION

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

1.3

GOING CONCERN

The directors have considered the going concern basis in preparing these financial statements. They have concluded that the going concern basis is appropriate because sufficient funds will be generated from future trading for a period of at least twelve months from the date of the approval of these financial statements to enable the company to meet its liabilities as they arise.

Page 17

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)

1.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Unit sales
Sales of mobile homes are recognised when the risks and rewards of ownership are transferred to
the customer, usually on occupation when the park home agreement is signed or legal completion
takes place.

Non-Refundable Deposits
Non-refundable deposits are recognised when it becomes certain that the sale of a unit will not be
completed.

Recharges of expenses, Maintenance fees, Commissions and Membership fees
Recharges of expenses, Maintenance fees, Commissions and Membership fees are recognised on an accruals basis in the period to which they relate.

1.5

OPERATING LEASES: THE GROUP AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

1.6

LEASED ASSETS: THE GROUP AS LESSEE

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.7

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

1.8

FINANCE COSTS

Finance costs are charged to profit or loss 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.

Page 18

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)

1.9

PENSIONS

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

1.10

CORPORATION AND DEFERRED TAXATION

The tax expense for the year comprises corporation and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 19

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)

1.11

INTANGIBLE ASSETS

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Goodwill is amortised over a period of 10 years. Website Development is amortised over a period of 3 years.

1.12

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property	-	Not depreciated
Plant and machinery	-	20% reducing balance and 20% - 25% straight line
Motor vehicles	-	25% straight line
Fixtures and fittings	-	20% - 25% straight line
Office equipment	-	20% reducing balance and 20% - 25% straight line
Other fixed assets	-	25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

No depreciation has been provided on freehold property as the property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result the corresponding depreciation would not be material, and therefore is not charged to the profit and loss account.

Page 20

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)

1.13

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.

Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

1.14

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

1.15

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

1.16

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised
cost using the effective interest method, less any impairment.

1.17

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.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

1.18

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank
loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at
amortised cost using the effective interest method.

Page 21

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)

1.19

FINANCIAL INSTRUMENTS

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

1.20

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 22

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.	JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Estimates and judgements are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately may ultimately differ from those estimates.

As described in note 14, land and buildings are stated at fair value based upon the valuation performed by an independent professional valuer. The valuers have recent experience in the location and category of the property valued. The valuer used observable market prices adjusted as necessary for any difference in the future, location or condition of the specific asset.

3.	TURNOVER
		2024	2023
		£	£


Unit sales	12,981,789	11,472,528
Site and maintenance fees	1,570,565	1,608,038
Commission	48,906	16,500
Non-refundable deposits	45,667	12,875
Golf membership	148,014	112,638
Recharges	863,549	796,207
Rental income	1,641,734	1,617,518
Sundry income	71,802	24,489
Motor vehicle sales	1,171,353	1,440,169
Sales and marketing support	-	15,000
	18,543,379	17,115,962

4.	OTHER OPERATING INCOME
		2024	2023
		£	£

Other operating income	500	-
Net rents receivable	22,564	24,332
	23,064	24,332

Page 23

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Fees payable to the Company's auditors for the audit of the consolidated, parent and subsidiary Companies' financial statements

69,750

50,000

6.	EMPLOYEES
	Staff costs, including Directors' remuneration, were as follows:

		Group	Group
		2024	2023
		£	£


Wages and salaries	1,215,178	1,025,370
Social security costs	107,362	91,550
Cost of defined contribution scheme	19,240	14,993
	1,341,780	1,131,913

The average monthly number of employees, including the Directors, during the year was as follows:

	Group	Group	Company	Company
	2024	2023	2024	2023
	No.	No.	No.	No.

Directors	2	2	2	2
Admin and sales	43	45	-	-

	45	47	2	2

7.	DIRECTORS' REMUNERATION

Remuneration for qualifying services

37,500

24,638

8.	INTEREST RECEIVABLE
		2024	2023
		£	£

Other interest receivable

12,966

8,247

Page 24

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	INTEREST PAYABLE AND SIMILAR EXPENSES
		2024	2023
		£	£

Bank interest payable	765,854	541,003
Other loan interest payable	36,806	36,879
Finance leases and hire purchase contracts	9,552	2,444
Other interest payable	78,288	32,998
	890,500	613,324

Corporation tax
Current tax on profits for the year	326,436	700,465
Adjustments in respect of previous periods	5,481	(21,430)
	331,917	679,035

Total current tax	331,917	679,035

Deferred tax
Origination and reversal of timing differences	15,074	(35,000)
Total deferred tax	15,074	(35,000)


	Profit before taxation	346,991	644,035

Page 25

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.TAXATION (CONTINUED)

Profit on ordinary activities before tax

529,921

2,462,594

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)	132,480	615,649
Effects of:
Non-tax deductible amortisation of goodwill and impairment	59,884	46,189
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	140,740	22,243
Capital allowances for year in excess of depreciation	(5,752)	34,875
Utilisation of tax losses	-	19,085
Adjustments to tax charge in respect of prior periods	5,481	(21,430)
Increase or decrease in pension fund prepayment leading to an increase (decrease) in tax	(1,035)	879
Short-term timing difference leading to an increase (decrease) in taxation	15,074	(35,000)
Book profit on chargeable assets	-	(430)
Other differences leading to an increase (decrease) in the tax charge	119	248
Marginal relief	-	(300)
Change in tax rate during the year	-	(37,973)
Total tax charge for the year	346,991	644,035

FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

Page 26

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

11.	DIVIDENDS
		2024	2023
		£	£

	Ordinary Dividends	-	100,000
		-	100,000

12.	PARENT COMPANY PROFIT FOR THE YEAR

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the parent Company for the year was £151,390 (2023 - £208,417).

Page 27

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.	INTANGIBLE ASSETS
	Group

	Website development	Goodwill	Total
	£	£	£
Cost
At 1 January 2024	67,596	2,389,015	2,456,611
Additions	13,987	(4,065)	9,922
At 31 December 2024	81,583	2,384,950	2,466,533
Amortisation
At 1 January 2024	15,380	372,582	387,962
Charge for the year on owned assets	19,335	239,537	258,872
At 31 December 2024	34,715	612,119	646,834
Net book value
At 31 December 2024	46,868	1,772,831	1,819,699
At 31 December 2023	52,216	2,016,433	2,068,649

Following registration for VAT the Parent Company reclaimed VAT on legal fees for the acquisition of Galtres Retreat & Lodge Park Ltd. This has been recognised as an addition in the year resulting in the negative additions balance of £4,065.

Page 28

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.INTANGIBLE ASSETS (CONTINUED)

	Company

		Website development
		£
	Cost
	At 1 January 2024	20,337
	At 31 December 2024	20,337
	Amortisation
	At 1 January 2024	11,601
	Charge for the year	4,279
	At 31 December 2024	15,880
	Net book value
	At 31 December 2024	4,457
	At 31 December 2023	8,736

Page 29

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14.	TANGIBLE FIXED ASSETS
	Group

	Freehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Office equipment
	£	£	£	£	£
Cost or valuation
At 1 January 2024	30,066,344	475,982	13,100	32,538	32,849
Additions	1,084,128	9,476	223,317	15,047	11,942
Disposals	-	-	-	-	(897)
Transfers between classes	52,500	-	-	-	-
Transfer to stock	-	-	-	-	-
Revaluations	(3,102,974)	-	-	-	-
At 31 December 2024	28,099,998	485,458	236,417	47,585	43,894
Depreciation
At 1 January 2024	-	181,162	11,611	10,702	17,672
Charge for the year on owned assets	-	121,652	16,600	9,677	9,077
Charge for the year on financed assets	-	8,300	9,682	-	-
Disposals	-	-	-	-	(19)
Transfer to stock	-	-	-	-	-
At 31 December 2024	-	311,114	37,893	20,379	26,730
Net book value
At 31 December 2024	28,099,998	174,344	198,524	27,206	17,164
At 31 December 2023	30,066,344	294,820	1,489	21,836	15,177

Page 30

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14.TANGIBLE FIXED ASSETS (CONTINUED)

	Other fixed assets	Total
	£	£
Cost or valuation
At 1 January 2024	424,115	31,044,928
Additions	711,786	2,055,696
Disposals	-	(897)
Transfers between classes	(52,500)	-
Transfer to stock	(75,000)	(75,000)
Revaluations	-	(3,102,974)
At 31 December 2024	1,008,401	29,921,753
Depreciation
At 1 January 2024	124,771	345,918
Charge for the year on owned assets	156,219	313,225
Charge for the year on financed assets	10,800	28,782
Disposals	-	(19)
Transfer to stock	(4,688)	(4,688)
At 31 December 2024	287,102	683,218
Net book value
At 31 December 2024	721,299	29,238,535
At 31 December 2023	299,344	30,699,010

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2024	2023
	£	£


Plant and machinery	6,225	14,525
Motor vehicles	36,793	-
Other fixed assets	15,121	24,671
	58,139	39,196

Page 31

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Cost or valuation at 31 December 2024 is as follows:

			Land and buildings
			£

		At cost	20,574,242
		At valuation:
		Market value as at 31 December 2024	7,525,756

			28,099,998

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
	2024	2023
	£	£

Group
Cost	20,574,242	19,437,611
Net book value	20,574,242	19,437,611

Page 32

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

15.	FIXED ASSET INVESTMENTS

	Company

		Investments in subsidiary companies
		£
	Cost
	At 1 January 2024	8,086,485
	Additions	(4,065)
	At 31 December 2024	8,082,420

SUBSIDIARY UNDERTAKINGS
The following were subsidiary undertakings of the Company:
Name	Class of shares	Holding

Allerthorpe Golf and Country Park Limited	Ordinary	100%
Brickyard Leisure Ltd	Ordinary	100%
Vale of York Country Park Limited	Ordinary	100%
Moor Valley Country Park Ltd	Ordinary	100%
Wild Rose Country Park Ltd	Ordinary	100%
Sandholme Country Park Limited	Ordinary	100%
Malton Grange Lodges Limited	Ordinary	100%
Galtres Retreat & Lodge Park Ltd	Oridnary	100%

The parent company and all subsidiaries share a registered office, C/O Prestige Country Parks, Melbourne Road, Allerthorpe, York, Yorkshire, United Kingdom, YO42 4RL.

Page 33

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

SUBSIDIARY UNDERTAKINGS (CONTINUED)

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
Name	Aggregate of share capital and reserves	Profit/(Loss)
	£	£

Allerthorpe Golf and Country Park Limited	10,031,474	369,089
Brickyard Leisure Ltd	1,999,793	480,104
Vale of York Country Park Limited	369,112	(246,592)
Moor Valley Country Park Ltd	4,308,886	178,174
Wild Rose Country Park Ltd	(533,871)	(763,911)
Sandholme Country Park Limited	(26,109)	(12,483)
Malton Grange Lodges Limited	4,658,806	125,807
Galtres Retreat & Lodge Park Ltd	1,209,585	(742,408)

16.	STOCKS
		Group	Group
		2024	2023
		£	£

Raw materials and consumables	1,033,183	1,144,352
Work in progress	549,488	480,219
Finished goods	5,156,516	5,253,928
Goods in transit	238,000	-
	6,977,187	6,878,499

17.

DEBTORS

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£


Trade debtors	757,539	591,022	-	-
Amounts owed by group undertakings	-	-	4,778,049	4,471,399
Other debtors	913,400	776,445	254,478	262,994
Prepayments and accrued income	549,232	494,249	84,157	65,059
	2,220,171	1,861,716	5,116,684	4,799,452

Page 34

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

18.	CREDITORS: Amounts falling due within one year
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Bank loans	1,930,676	836,008	1,503,931	293,113
Trade creditors	4,064,121	2,501,037	156,809	35,359
Amounts owed to group undertakings	-	-	1,839,528	1,622,879
Corporation tax	1,245,968	1,271,513	367,796	245,487
Other taxation and social security	406,456	307,395	8,403	-
Obligations under finance lease and hire purchase contracts	25,146	15,684	-	-
Other creditors	1,780,096	217,213	14,389	14,386
Accruals and deferred income	2,488,926	3,028,536	50,000	47,850
	11,941,389	8,177,386	3,940,856	2,259,074

19.	CREDITORS: Amounts falling due after more than one year
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Bank loans	8,882,475	10,978,163	5,517,367	7,142,803
Net obligations under finance leases and hire purchase contracts	235,101	19,480	-	-
Accruals and deferred income	-	1,583	-	-
	9,117,576	10,999,226	5,517,367	7,142,803

The bank loans of £10,813,152 (2023 - £11,813,152) are secured by way of a debenture comprising fixed and floating charges over the Group's assets.

Included within creditors are hire purchase obligations amounting to £260,247 (2023 - £35,164) these are secured on the fixed assets to which they relate.

Page 35

PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

20.	LOANS
	Analysis of the maturity of loans is given below:
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Amounts falling due within one year
Bank loans	1,930,676	836,008	1,503,931	293,113
Amounts falling due 1-2 years
Bank loans	633,009	2,182,972	375,031	1,590,182
Amounts falling due 2-5 years
Bank loans	2,069,006	2,217,970	1,190,762	938,338
Amounts falling due after more than 5 years
Bank loans	6,180,461	6,577,222	3,951,574	4,614,283
	10,813,152	11,814,172	7,021,298	7,435,916

21.	HIRE PURCHASE AND FINANCE LEASES
	Minimum lease payments under hire purchase fall due as follows:
		Group	Group
		2024	2023
		£	£

Within one year	25,145	15,684
Between 1-5 years	235,101	11,405
	260,246	27,089

22.	DEFERRED TAXATION
	Group

		2024
		£

	At beginning of year	(3,530,743)
	Charged to profit or loss	(15,074)
	Charged to other comprehensive income	324,588
	At end of year	(3,221,229)

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PRESTIGE COUNTRY PARKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

22.DEFERRED TAXATION (CONTINUED)

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£

Accelerated capital allowances	(119,926)	(105,886)	-	-
Deferred tax on revaluations	(3,101,304)	(3,425,892)	-	-
Unpaid pensions	-	1,035	-	-
	(3,221,230)	(3,530,743)	-	-

23.	SHARE CAPITAL
		2024	2023
		£	£

Allotted, called up and fully paid

10,200 (2023 - 102) Ordinary shares of £1.00 each	10,200	102

On 29 October 2024 10,098 £1 Ordinary shares were issued via a bonus issue at a ratio of 99 to 1.

24.	PENSION COMMITMENTS

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £19,240 (2023 - £14,993). Contributions totalling £Nil (2023 - £3,516) were payable to the fund at the balance sheet date and are included in creditors.

25.	RELATED PARTY TRANSACTIONS
	During the year the Company had transactions with its Directors. The amounts payable as at the year end totalled £185,023 (2023 - £180,477). This is shown within other debtors and is repayable on demand. Interest is charged on the balance, this totalled £4,086 in the year to 31 December 2024 (2023 - £4,217).

26.	CONTROLLING PARTY

The Ultimate Controlling Parties are Mr M W Knowles, Mrs J A Knowles and Mr L Knowles by virtue of their joint 100% shareholding in Prestige Country Parks Limited.

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