Financial Statements
For the year ended 30 September 2025
Registered number: NI012772
Company Information
Contents
Strategic report
For the year ended 30 September 2025
The directors are pleased to present their strategic report for the year ended 30 September 2025.
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.
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.
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).
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.
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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.
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).
The directors who served during the year were:
The Company expects to continue operating in line with its current business activities.
The Company made charitable donations of £17,000 during the year (2024: £221,000).
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Directors' report (continued)
For the year ended 30 September 2025
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.
There have been no significant events that impact the Company since financial year end.
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.
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Independent auditor's report to the members of Blair's Caravans Limited
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.
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.
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Independent auditor's report to the members of Blair's Caravans Limited (continued)
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 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.
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Independent auditor's report to the members of Blair's Caravans Limited (continued)
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.
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Independent auditor's report to the members of Blair's Caravans Limited (continued)
In response to these principal risks, our audit procedures included but were not limited to:
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.
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.
for and on behalf of
Chartered Accountants &
Statutory Auditors
Belfast
26 March 2026
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Statement of comprehensive income
For the year ended 30 September 2025
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Balance sheet
As at 30 September 2025
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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 .
The notes on pages 12 to 30 form part of these financial statements.
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Statement of changes in equity
For the year ended 30 September 2025
Statement of changes in equity
For the year ended 30 September 2024
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Notes to the financial statements
For the year ended 30 September 2025
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
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:
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.
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.
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Notes to the financial statements
For the year ended 30 September 2025
2.Accounting policies (continued)
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.
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Notes to the financial statements
For the year ended 30 September 2025
2.Accounting policies (continued)
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.
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Notes to the financial statements
For the year ended 30 September 2025
2.Accounting policies (continued)
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:
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.
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Notes to the financial statements
For the year ended 30 September 2025
2.Accounting policies (continued)
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.
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.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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Notes to the financial statements
For the year ended 30 September 2025
2.Accounting policies (continued)
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.
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Notes to the financial statements
For the year ended 30 September 2025
2.Accounting policies (continued)
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.
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Notes to the financial statements
For the year ended 30 September 2025
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.
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.
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.
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.
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Notes to the financial statements
For the year ended 30 September 2025
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Notes to the financial statements
For the year ended 30 September 2025
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Notes to the financial statements
For the year ended 30 September 2025
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Notes to the financial statements
For the year ended 30 September 2025
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Notes to the financial statements
For the year ended 30 September 2025
13.Tangible fixed assets (continued)
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Notes to the financial statements
For the year ended 30 September 2025
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Notes to the financial statements
For the year ended 30 September 2025
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Notes to the financial statements
For the year ended 30 September 2025
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Notes to the financial statements
For the year ended 30 September 2025
22.Deferred taxation (continued)
Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
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Notes to the financial statements
For the year ended 30 September 2025
During the year the directors entered into the following advances and credits with the Company:
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Page 29
Notes to the financial statements
For the year ended 30 September 2025
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.
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