Caseware UK (AP4) 2025.0.111 2025.0.111 The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": the requirements of Section 7 Statement of Cash Flows; the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; the requirements of Section 33 Related Party Disclosures paragraph 33.7.Interest income is recognised in profit or loss using the effective interest method. 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.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. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance basis. 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.Bank loans are repayable based on structured repayment terms as agreed with the Company's bankers. Interest rates range from 5.62% to 6.26%. Bank overdrafts and Bank loans are secured by a floating charge over Company assets and mortgages over Company's properties at: 60 Loguestown Road, Portrush, BT56 8PD 29 Dhu Varren, Portrush, BT56 8EW Land at Craigahulliar Road, Portrush, BT56 8NL Trade and other creditors are payable at various dates over the coming months in accordance with the suppliers' usual and customary credit terms. Other taxes including social insurance are repayable at various dates over the coming months in accordance with the applicable statutory provisions. The obligations under finance leases and hire purchase contracts are secured by the assets to which the agreements relate. 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Financial Statements Blair's Caravans Limited For the year ended 30 September 2025 Registered number: NI012772
Blair's Caravans Limited
Company Information
Directors | Mrs Sarah Brown (resigned 12 December 2024)
| Mr Colin Mayrs (resigned 4 November 2025)
| Mr Tim Gibson (appointed 12 December 2024)
| Ms Anna Irwin (appointed 10 June 2025)
| Mr David Hicks (appointed 10 June 2025, resigned 8 October 2025)
Registered number | NI012772
Registered office | 60 Loguestown Road
| Portrush
| Co Antrim
| BT46 8PD
Independent auditor | Grant Thornton (NI) LLP
| Chartered Accountants & Statutory Auditors
| 12 - 15 Donegall Square West
| Belfast
| BT1 6JH
Bankers | Danske Bank
| Donegall Square West
| Belfast
| BT1 6JS
Blair's Caravans Limited
Contents
| Page
Strategic report | 1
Directors' report | 2 - 3
Independent auditor's report | 4 - 7
Statement of comprehensive income | 8
Balance sheet | 9 - 10
Statement of changes in equity | 11
Notes to the financial statements | 12 - 30
Blair's Caravans Limited
Strategic report For the year ended 30 September 2025
Introduction
The directors are pleased to present their strategic report for the year ended 30 September 2025.
Principal activity and business review
The principal activity of the Company is the ownership and operation of holiday parks in Northern Ireland, providing caravan hire, touring and camping facilities, and the sale of new and pre-owned holiday homes. The business generates revenue through pitch rentals, accommodation services, retail and ancillary site activities, and the ongoing management and maintenance of its parks for holidaymakers and caravan owners. The company’s operations are focused on delivering high quality, family oriented leisure experiences across its sites. The directors' aim is to present a balanced and comprehensive review of the development and performance of the Company during the year and its position as at 30 September 2025. This review is consistent with the size and nature of the business and is written in the context of the risks and uncertainties faced by the business. During the year, ownership of the Company transferred to a new corporate shareholder. This transaction resulted in updates to the Company’s capital structure and governance arrangements. The directors believe the new ownership framework will support the continued development and expansion of the business.
Principal risks and uncertainties
The principal risks and uncertainties facing the Company relate to the seasonal nature of trading, fluctuations in consumer demand for domestic leisure and tourism, and broader economic conditions that may impact discretionary spending. The business is also exposed to operational risks associated with maintaining high quality park facilities, weather related disruption, and compliance with health, safety and environmental regulations. The directors monitor these risks closely and consider that appropriate controls and mitigation measures are in place.
Financial key performance indicators
The directors consider that the key performance indicators are those that communicate the financial performance and strength of the Company as a whole, those being turnover, caravans sales, gross profit, operating profit and net assets. There has been an increase in turnover this year from £11.6m to £13.8m, mainly due to the increase in caravan sales and holiday letting income. The Company's gross profit increased from £6.2m to £6.8m and the Company generated an operating profit of £2.7m (2024 - £2.6m). At the year end, the Company continued to have a strong net asset position of £13.9m (2024 - £11.8m). This report was approved by the board on 26 March 2026 and signed on its behalf.
Mr Tim Gibson Director
Page 1
Blair's Caravans Limited
Directors' report For the year ended 30 September 2025 The directors present their report and the audited financial statements for the year ended 30 September 2025.
Directors' responsibilities statement
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with 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 of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgements and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and 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 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 £2,111,015 (2024 - £1,500,266). The directors have recommended a dividend of £Nil (2024 - £Nil).
Directors
The directors who served during the year were:
Mrs Sarah Brown (resigned 12 December 2024)
Mr Colin Mayrs (resigned 4 November 2025)
Mr Tim Gibson (appointed 12 December 2024)
Ms Anna Irwin (appointed 10 June 2025)
Mr David Hicks (appointed 10 June 2025, resigned 8 October 2025)
Future developments
The Company expects to continue operating in line with its current business activities.
Charitable donations
The Company made charitable donations of £17,000 during the year (2024: £221,000). Page 2
Blair's Caravans Limited
Directors' report (continued) For the year ended 30 September 2025
Matters covered in the Strategic report
Under Schedule 7.1A of "Large and Medium-Sized Companies and Groups (Accounts and Reports) Regulations 2008", the Company has elected to disclose the following directors report information in the Strategic report: ∙Principal activity and business review; ∙Principal risks and uncertainties; and ∙Financial key performance indicators.
Disclosure of information to auditor
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's auditor is 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's auditor is aware of that information.
Post balance sheet events
There have been no significant events that impact the Company since financial year end.
Auditor
The auditor, Grant Thornton (NI) LLP, was appointed during the year and will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 26 March 2026 and signed on its behalf.
Mr Tim Gibson Director
Page 3
Independent auditor's report to the members of Blair's Caravans Limited
Opinion
We have audited the financial statements of Blair's Caravans Limited (the "Company"), which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity for the financial year ended 30 September 2025, and the related 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, Blair's Caravans Limited's financial statements: ∙give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 30 September 2025 and of its financial performance for the financial year then ended; 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 'Responsibilities of the auditor 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 United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. We have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from the date 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 4
Independent auditor's report to the members of Blair's Caravans Limited (continued)
Other matter
The year ended 30 September 2025 was the first year that Grant Thornton (NI) LLP were appointed as external auditors. The previous auditor, Potter Finnegan Limited, issued an audit opinion for Blair's Caravans Limited for the year ended 30 September 2024. The audit report was signed on 4 December 2024.
Other information
Other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's report thereon, including the Directors' report and the Strategic Report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the 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 in the financial statements, 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. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Directors' report and the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements, and ∙the Directors' report and the Strategic 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 Company and its environment we have obtained in the course of the audit, we have not identified material misstatements in the Directors' report and the Strategic 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, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit. Page 5
Independent auditor's report to the members of Blair's Caravans Limited (continued)
Responsibilities of management and those charged with governance for the financial statements
Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 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, management 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 management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Company's financial reporting process.
Responsibilities of the auditor for the audit of the financial statements
The objectives of an auditor 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 their 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. A further description of an auditor's 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 auditor's report. Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud 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. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below: Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to Data Privacy Law, Employment Law, Environmental Regulations, Pension legislation and Health and Safety Laws, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and UK tax legislation. The Audit engagement partner considered the experience and expertise of the engagement team to ensure that the team had appropriate competence and capabilities to identify or recognise non-compliance with the laws and regulations. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. Page 6
Independent auditor's report to the members of Blair's Caravans Limited (continued) We apply professional scepticism throughout the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements. In response to these principal risks, our audit procedures included but were not limited to: ∙inquiries of management on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non compliance and whether they have knowledge of any actual, suspected or alleged fraud; ∙inspection of the Company’s regulatory and legal correspondence and review of minutes of the board of directors meetings during the year to corroborate inquiries made; ∙gaining an understanding of the internal controls established to mitigate risk related to fraud; ∙discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non compliance or opportunities for fraudulent manipulation of financial statements throughout the audit; ∙identifying and testing journal entries to address the risk of inappropriate journals and management override of controls; ∙designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing; ∙challenging assumptions and judgements made by management in their significant accounting estimates, including estimating an allowance for the impairment of debtors and stock, and the useful life of tangible fixed assets; and ∙review of the financial statement disclosures to underlying supporting documentation and inquiries of management. The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.
The purpose of our audit work and to whom we owe our responsibilities
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. Nikita Lynn (Senior statutory auditor) for and on behalf of Grant Thornton (NI) LLP Chartered Accountants & Statutory Auditors Belfast 26 March 2026 Page 7
Blair's Caravans Limited
Statement of comprehensive income For the year ended 30 September 2025
|  | As restated
| 2025 | 2024
Note | £ | £
Turnover | 4 | 13,810,785 | 11,579,030
Cost of sales |  | (6,961,885) | (5,391,674)
Gross profit |  | 6,848,900 | 6,187,356
Administrative expenses |  | (4,223,323) | (3,578,207)
Other operating income | 5 | 112,394 | 4,968
Operating profit | 6 | 2,737,971 | 2,614,117
Interest receivable and similar income | 9 | - | 23,916
Interest payable and similar expenses | 10 | (484,815) | (629,776)
Profit before tax |  | 2,253,156 | 2,008,257
Tax on profit | 11 | (142,141) | (507,991)
Profit for the financial year |  | 2,111,015 | 1,500,266
All amounts relate to continuing operations. There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 12 to 30 form part of these financial statements.
Page 8
Blair's Caravans Limited Registered number:NI012772
Balance sheet As at 30 September 2025
|  |  |  | As restated
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 12 |  | 9,286 |  | -
Tangible assets | 13 |  | 19,835,876 |  | 19,337,391
Investment property | 14 |  | - |  | 193,350
|  |  | 19,845,162 |  | 19,530,741
Current assets |  |  |  |  |
Stocks | 15 | 1,618,119 |  | 2,201,312 |
Debtors: amounts falling due after more than one year | 16 | 4,017,997 |  | - |
Debtors: amounts falling due within one year | 16 | 903,989 |  | 1,369,237 |
Cash at bank and in hand | 17 | 2,736,109 |  | 977,219 |
|  | 9,276,214 |  | 4,547,768 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 18 | (3,470,949) |  | (3,871,673) |
Net current assets |  |  | 5,805,265 |  | 676,095
Total assets less current liabilities |  |  | 25,650,427 |  | 20,206,836
Creditors: amounts falling due after more than one year | 19 |  | (10,901,789) |  | (7,480,352)
Provisions for liabilities |  |  |  |  |
Deferred tax | 22 | (812,080) |  | (900,941) |
|  |  | (812,080) |  | (900,941)
Net assets |  |  | 13,936,558 |  | 11,825,543
Capital and reserves |  |  |  |  |
Called up share capital | 23 |  | 22,142 |  | 22,142
Share premium account | 24 |  | 743,358 |  | 743,358
Capital redemption reserve | 24 |  | 4,500 |  | 4,500
Profit and loss account | 24 |  | 13,166,558 |  | 11,055,543
Shareholders' funds |  |  | 13,936,558 |  | 11,825,543
Page 9
Blair's Caravans Limited Registered number:NI012772
Balance sheet (continued) As at 30 September 2025 The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 March 2026.
Mr Tim Gibson
Director
The notes on pages 12 to 30 form part of these financial statements. Page 10
Blair's Caravans Limited
Statement of changes in equity For the year ended 30 September 2025
| Called up share capital | Share premium account | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 October 2024 (as previously stated) | 22,142 | 743,358 | 4,500 | 11,687,551 | 12,457,551
Prior year adjustment - correction of error | - | - | - | (632,008) | (632,008)
At 1 October 2024 (as restated) | 22,142 | 743,358 | 4,500 | 11,055,543 | 11,825,543
Profit for the year | - | - | - | 2,111,015 | 2,111,015
At 30 September 2025 | 22,142 | 743,358 | 4,500 | 13,166,558 | 13,936,558
Statement of changes in equity For the year ended 30 September 2024
| Called up share capital | Share premium account | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 October 2023 (as previously stated) | 22,142 | 743,358 | 4,500 | 10,143,166 | 10,913,166
Prior year adjustment - correction of error | - | - | - | (587,889) | (587,889)
At 1 October 2023 (as restated) | 22,142 | 743,358 | 4,500 | 9,555,277 | 10,325,277
Profit for the year | - | - | - | 1,500,266 | 1,500,266
At 30 September 2024 | 22,142 | 743,358 | 4,500 | 11,055,543 | 11,825,543
| The notes on pages 12 to 30 form part of these financial statements.
Page 11
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025
1. | General information
Blair's Caravans Limited is a private company limited by shares and incorporated in Northern Ireland. The registered office is 60 Loguestown Road, Portrush, Co Antrim, BT46 8PD. 2.Accounting policies
| 2.1 | 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); ∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Ferien Acquisitions Holdings Limited as at 30 September 2025 and these financial statements may be obtained from Companies House in the United Kingdom.
| 2.3 | Going concern
The financial statements have been prepared on a going concern basis, which assumes that the Company will continue in operational existence for the foreseeable future. The directors have prepared a going concern assessment which includes the preparation of forecasts including modeling a plausible downside scenario, for a period of at least 12 months form the date of the approval of the financial statements. These demonstrate that the Company has sufficient resources to meet all its financial obligations as they fall due. Accordingly, the directors have concluded that the going concern basis of preparation is appropriate. Page 12
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. 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: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.5 | Operating leases: the Company 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.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | 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.
| 2.8 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 13
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.9 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Company in independently administered funds.
| 2.10 | Current and deferred taxation
The tax expense for the year comprises current 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 income 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 operates and generates 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; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. 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.
| 2.11 | 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. The intangible assets recognised in the current year are not amortised to date as they are not yet in use. Page 14
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.12 | 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, using the straight-line method and reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Building and site works | - | 2% straight line
|  |  |  | Amenity buildings | - | 4% straight line
|  |  |  | Plant and fleet | - | 10% - 20% reducing balance
|  |  |  | Fixtures and fittings | - | 10% reducing balance
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.
| 2.13 | Impairment of assets
Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
| 2.14 | Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss. Page 15
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.15 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is on an individual basis. 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.
| 2.16 | 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.
| 2.17 | 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.
| 2.18 | 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.
| 2.19 | Hire purchase and finance leases
Assets held under finance leases are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
| 2.20 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 16
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.21 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date. Page 17
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.22 | Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the Company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. Page 18
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
When preparing the financial statements, management undertakes a number of judgements, estimates and assumptions about the recognition and measurement of assets, liabilities, income and expenses. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The following are significant management judgements in applying the accounting policies of the Company that have the most significant effect on the financial statements: Estimates Information about estimates and assumptions that have the most significant effect on recognition and measurement of assets, liabilities, income and expenses is provided below. Actual results may be substantially different. Useful lives of tangible assets Management reviews its estimates the useful lives of its tangible assets based on the period over which the assets are expected to be available for use. The company reviews annually the estimated useful lives of tangible assets based on factors that include asset utilisation, internal technical evaluation, technological changes, environmental and anticipated use of the assets tempered by related industry benchmark information. It is possible that future results of operations could be materially affected by changes in the company's estimates brought about by changes in the factors mentioned. The carrying value of tangible fixed assets are disclosed at note 13. Impairment of trade debtors The company estimates the allowance for doubtful trade receivables based on assessment of specific accounts where the company has objective evidence comprising default in payment terms or significant financial difficulty that certain customers are unable to meet their financial obligations. In these cases, judgement used was based on the best available facts and circumstances including but not limited to, the length of relationship. The carrying value of trade debtors is disclosed at note 16. Impairment of stocks The company has made judgements when assessing the impairment of its stock. Slow moving stock, overstocked and obsolete items are reviewed regularly, and impairment has been reviewed with reference to historical loss experience updated for current conditions. The carrying value of stocks is disclosed at note 15.
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  |  | As restated
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Caravan sales | 9,301,369 | 7,550,108
| Rental and other ancillary services | 4,509,416 | 4,028,922
|  | 13,810,785 | 11,579,030
| The whole of the turnover is attributable to the principal activity of the Company wholly undertaken in the United Kingdom.
Page 19
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025
5. | Other operating income
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net insurance proceeds and other operating income | 112,394 | 4,968
|  | 112,394 | 4,968
6. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation of tangible assets | 600,442 | 505,366
| Loss on disposal of tangible assets | 10,996 | 19,187
| Other operating lease rentals | 25,813 | 17,776
| Fees payable to the audit firm for the audit of the financial statements | 35,500 | 5,000
| Fees payable for non-audit services | 4,525 | -
7. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 1,756,653 | 1,438,123
| Social security costs | 182,762 | 126,052
| Cost of defined contribution scheme | 30,636 | 97,451
|  | 1,970,051 | 1,661,626
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Employees | 64 | 66
Page 20
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025
8. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 216,081 | 128,744
| Company contributions to defined contribution pension schemes | 1,485 | 20,000
|  | 217,566 | 148,744
| During the year retirement benefits were accruing to 3 directors (2024 - 1) in respect of defined contribution pension schemes.
9. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest receivable | - | 9,098
| Other interest receivable | - | 14,818
|  | - | 23,916
10. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest payable | - | 2,333
| Bank loan interest payable | 439,931 | 588,806
| Finance leases and hire purchase contracts | 44,884 | 38,637
|  | 484,815 | 629,776
Page 21
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025
11. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 231,002 | 502,478
|  | 231,002 | 502,478
| Total current tax | 231,002 | 502,478
| Deferred tax |  |
| Origination and reversal of timing differences | (17,156) | 5,513
| Adjustments in respect of previous periods | (71,705) | -
| Total deferred tax | (88,861) | 5,513
| Tax on profit | 142,141 | 507,991
| Factors affecting tax charge for the year
| The tax assessed for the year is lower than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 2,253,156 | 2,008,257
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 563,289 | 502,064
| Effects of: |  |
| Expenses not deductible for tax purposes | 50,059 | 1,451
| Fixed asset timing differences | 40,528 | (12,067)
| Adjustments to tax charge in respect of prior periods | (71,705) | -
| Group relief | (416,977) | -
| Deferred tax | - | 5,513
| Other timing differences | (23,053) | 11,030
| Total tax charge for the year | 142,141 | 507,991
| Factors that may affect future tax charges
There were no factors that may affect future tax charges. Page 22
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025
12. | Intangible assets
|  | Computer software
|  | £
| Cost |
| Additions | 9,286
| At 30 September 2025 | 9,286
| Net book value |
| At 30 September 2025 | 9,286
| At 30 September 2024 | -
13. | Tangible fixed assets
|  | Land and buildings | Plant and fleet | Fixtures and fittings | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 October 2024 | 16,931,040 | 5,571,480 | 536,591 | 23,039,111
| Additions | 919,930 | 63,527 | 115,470 | 1,098,927
| At 30 September 2025 | 17,850,970 | 5,635,007 | 652,061 | 24,138,038
| Depreciation |  |  |  |
| At 1 October 2024 | 1,362,873 | 1,941,807 | 397,040 | 3,701,720
| Charge for the year | 162,112 | 400,528 | 37,802 | 600,442
| At 30 September 2025 | 1,524,985 | 2,342,335 | 434,842 | 4,302,162
| Net book value |  |  |  |
| At 30 September 2025 | 16,325,985 | 3,292,672 | 217,219 | 19,835,876
| At 30 September 2024 | 15,568,167 | 3,629,673 | 139,551 | 19,337,391
Page 23
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025 13.Tangible fixed assets (continued)
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Plant and fleet | 1,507,113 | 1,618,943
|  | 1,507,113 | 1,618,943
14. | Investment property
|  | Investment property
|  | £
| At 1 October 2024 | 193,350
| Disposals | (193,350)
| At 30 September 2025 | -
| In the year investment property was sold to a Director for net proceeds of £193,350 resulting in a gain on disposal of £Nil.
15. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods for resale | 1,618,119 | 2,201,312
|  | 1,618,119 | 2,201,312
| Finished goods, and goods for resale are stated after provision for impairment of £15,300 (2024: £NIL). Included in finished goods and goods for resale is stock in transit of £105,418. The replacement value of stock is not determined to be materially different to the cost as stated.
Page 24
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025
16. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Amounts owed by group undertakings | 4,017,997 | -
|  | 4,017,997 | -
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due within one year |  |
| Trade debtors | 412,541 | 908,393
| Other debtors | 298 | 173,141
| Prepayments | 270,351 | 287,703
| Tax recoverable | 220,799 | -
|  | 903,989 | 1,369,237
| Amounts owed by group undertakings are unsecured and interest free. Included in other debtors is £NIL (2024: £172,834) relating to directors current account.
17. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 2,736,109 | 977,219
|  | 2,736,109 | 977,219
Page 25
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025
18. | Creditors: Amounts falling due within one year
|  |  |  |  |  | As restated
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 684,000 | 1,109,094
| Trade creditors | 1,118,674 | 1,270,794
| Corporation tax | - | 277,478
| Other taxation and social security | 122,047 | 189,432
| Obligations under finance lease and hire purchase contracts | 285,000 | 300,474
| Other creditors | 76,292 | 5,043
| Accruals and deferred income | 1,184,936 | 719,358
|  | 3,470,949 | 3,871,673
| Bank overdrafts and Bank loans are secured by a floating charge over Company assets and mortgages over Company's properties at: −60 Loguestown Road, Portrush, BT56 8PD −29 Dhu Varren, Portrush, BT56 8EW −Land at Craigahulliar Road, Portrush, BT56 8NL Trade and other creditors are payable at various dates over the coming months in accordance with the suppliers' usual and customary credit terms. Other taxes including social insurance are repayable at various dates over the coming months in accordance with the applicable statutory provisions. The obligations under finance leases and hire purchase contracts are secured by the assets to which the agreements relate. Included within accruals and deferred income is £669,971 (2024: £632,008) relating to deferred site rentals (refer to note 31).
19. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 10,716,000 | 7,169,829
| Net obligations under finance leases and hire purchase contracts | 185,789 | 275,750
| Accruals and deferred income | - | 34,773
|  | 10,901,789 | 7,480,352
| Bank loans are repayable based on structured repayment terms as agreed with the Company's bankers. Interest rates range from 5.62% to 6.26%.
Page 26
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025
20. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 684,000 | 1,109,094
|  | 684,000 | 1,109,094
| Amounts falling due 1-5 years |  |
| Bank loans | 10,716,000 | 6,534,811
|  | 10,716,000 | 6,534,811
| Amounts falling due after more than 5 years |  |
| Bank loans | - | 635,018
|  | - | 635,018
|  | 11,400,000 | 8,278,923
| Details of security on bank loans is included at note 18.
21. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 285,000 | 300,474
| Between 1-5 years | 185,789 | 275,750
|  | 470,789 | 576,224
22. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (900,941)
| Charged to profit or loss | 88,861
| At end of year | (812,080)
Page 27
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025 22.Deferred taxation (continued)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fixed asset timing differences | (826,845) | (891,678)
| Short term timing differences | 6,836 | (9,263)
| Capital losses | 7,929 | -
|  | (812,080) | (900,941)
23. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 22,142 (2024 - 22,142) Ordinary shares of £1.00 each | 22,142 | 22,142
24. | Reserves
Called up share capital Represents the nominal value of shares that have been issued. Share premium account The amount carried forward is the premium that arose from the issue of shares. Capital redemption reserve Includes the nominal value of shares repurchased by the Company. Profit and loss account Includes all current and prior period retained profits and losses.
25. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £30,636 (2024: £97,451). Contributions totaling £27,341 (2024: £4,667) were payable to the fund at the balance sheet date and are included in creditors. Page 28
Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025
26. | Commitments under operating leases
| At 30 September 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 95,000 | 95,000
| Later than 1 year and not later than 5 years | 316,667 | 256,667
| Later than 5 years | 4,150,000 | 4,350,000
|  | 4,561,667 | 4,701,667
| The above includes operating lease commitments pertaining to various lands and a 99 year lease on a caravan site.
27. | Transactions with directors
During the year the directors entered into the following advances and credits with the Company:
| 2025 | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| Mrs Sarah K Brown | 172,834 | - | (172,834) | -
|  | 172,834 | - | (172,834) | -
| 2024 | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| Mrs Sarah K Brown | (34,256) | 207,090 | - | 172,834
|  | (34,256) | - | - | -
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Blair's Caravans Limited
Notes to the financial statements For the year ended 30 September 2025
28. | Related party transactions
| During the year the Company entered into the following transactions with related parties:
|  | Transaction value 2025 | 2024 | Balance owed by/(to) 2025 | 2024
|  | £ | £ | £ | £
| Donations to The Blair Charitable Trust | 17,000 | 221,000 | - | -
| Disposal of investment property | 193,350 | - | - | -
|  | 210,350 | 221,000 | - | -
29. | Post balance sheet events
There have been no significant events effecting the Company since the financial year end.
30. | Controlling party
The ultimate controlling party of Blair's Caravans Limited is Ferien Acquisitions Holdings Limited, a company incorporated in the United Kingdom. Ferien Acquisitions Holdings Limited is the smallest and largest group of undertakings for which consolidated group accounts, which include the company, have been drawn up. Ferien Acquistions Holdings Limited has its registered office at C/O Tughans Llp The Ewart, 3 Bedford Squre, Belfast, United Kingdom, BT2 7EP.
31. | Prior year adjustment
An adjustment has been made to correct an error in respect of the timing of the recognition of rental income in the prior year ended 30 September 2024. The impact of this adjustment was to increase deferred income by £632,008 and £587,889 as at 30 September 2024 and 30 September 2023 respectively, and to decrease profit for the year ended 30 September 2024 by £44,119.
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