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Registered number: 03039645 BYWATER LEISURE PARKS LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
BYWATER LEISURE PARKS LIMITED REGISTERED NUMBER: 03039645 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 8,902,342 |  | 8,960,514
|  |  | 8,902,342 |  | 8,960,514
Current assets |  |  |  |  |
Stocks | 5 | 937,729 |  | 659,945 |
Debtors: amounts falling due within one year | 6 | 57,045 |  | 95,106 |
Cash at bank and in hand | 7 | 1,096 |  | 1,858 |
|  | 995,870 |  | 756,909 |
Creditors: amounts falling due within one year | 8 | (555,131) |  | (494,586) |
Net current assets |  |  | 440,739 |  | 262,323
Total assets less current liabilities |  |  | 9,343,081 |  | 9,222,837
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 | (1,560,012) |  | (1,528,284) |
|  |  | (1,560,012) |  | (1,528,284)
Net assets |  |  | 7,783,069 |  | 7,694,553
Page 1
BYWATER LEISURE PARKS LIMITED REGISTERED NUMBER: 03039645 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 8,000 |  | 8,000
Revaluation reserve | 11 |  | 4,751,747 |  | 4,751,747
Capital redemption reserve | 11 |  | 2,000 |  | 2,000
Profit and loss account | 11 |  | 3,021,322 |  | 2,932,806
|  |  | 7,783,069 |  | 7,694,553
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ D W Roberts
Director
Date: 13 April 2026
The notes on pages 3 to 14 form part of these financial statements. Page 2
BYWATER LEISURE PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Bywater Leisure Parks Limited (03039645) is a private company, limited by shares, incorporated and domiciled in England and Wales, with its registered office and principal place of business at Emstrey, Shrewsbury, Shropshire, SY5 6QS. The principal activity of the Company is the running of leisure parks and the sale of holiday homes and related equipment. 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 requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The Company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Company should be able to operate within the level of its current facilities. The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements. Page 3
BYWATER LEISURE PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.3 | 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. Page 4
BYWATER LEISURE PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | 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.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.6 | Current and deferred taxation
The tax expense for the period 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 reporting 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 reporting 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 reporting date. Page 5
BYWATER LEISURE PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.7 | 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. Depreciation is provided on the following basis:
|  |  |  | Freehold land and buildings | - | not depreciated
|  |  |  | Plant & machinery | - | 25% - 33%
|  |  |  | Motor vehicles | - | 25%
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. Freehold buildings are not depreciated on the grounds that the residual values will at least be equal to the carrying values in the financial statements.
| 2.8 | 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 reporting 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.
| 2.9 | 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 based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting 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. Page 6
BYWATER LEISURE PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | 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.
| 2.11 | 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.
| 2.12 | 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.
| 2.13 | 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 7
BYWATER LEISURE PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.14 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 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 Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Page 8
BYWATER LEISURE PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.14 | Financial instruments (continued)
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 Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans 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. Other financial instruments Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss. Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
| 2.15 | 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 28 (2024 - 25).
Page 9
BYWATER LEISURE PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Tangible fixed assets
|  | Freehold land and buildings | Plant & Machinery | Motor Vehicles | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2025 | 8,825,000 | 522,829 | 93,469 | 9,441,298
| Additions | - | 28,048 | - | 28,048
| At 31 December 2025 | 8,825,000 | 550,877 | 93,469 | 9,469,346
| Depreciation |  |  |  |
| At 1 January 2025 | - | 410,896 | 69,888 | 480,784
| Charge for the year on owned assets | - | 71,678 | 14,542 | 86,220
| At 31 December 2025 | - | 482,574 | 84,430 | 567,004
| Net book value |  |  |  |
| At 31 December 2025 | 8,825,000 | 68,303 | 9,039 | 8,902,342
| At 31 December 2024 | 8,825,000 | 111,933 | 23,581 | 8,960,514
Land and buildings are held at valuation and were valued on 23 April 2023 by Savills (UK) Limited, an independent firm of chartered surveyors, on an open market basis.
| If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cost | 2,742,368 | 2,742,368
| Net book value | 2,742,368 | 2,742,368
Page 10
BYWATER LEISURE PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods for resale | 937,729 | 659,945
|  | 937,729 | 659,945
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 14,645 | 1,183
| Other debtors | 76 | 46,242
| Prepayments and accrued income | 42,324 | 47,681
|  | 57,045 | 95,106
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,096 | 1,858
| Less: bank overdrafts | (56,841) | (72,472)
|  | (55,745) | (70,614)
Page 11
BYWATER LEISURE PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 56,841 | 72,472
| Payments received on account | 212,974 | 231,767
| Trade creditors | 104,965 | 105,142
| Amounts owed to group undertakings | 87,910 | -
| Corporation tax | 43,016 | 78,386
| Other taxation and social security | 21,612 | -
| Other creditors | 10,246 | -
| Accruals and deferred income | 17,567 | 6,819
|  | 555,131 | 494,586
9. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (1,528,284)
| Charged to the profit or loss | (31,728)
| At end of year | (1,560,012)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (229,126) | (197,398)
| Revaluation of properties | (1,330,886) | (1,330,886)
|  | (1,560,012) | (1,528,284)
Page 12
BYWATER LEISURE PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 8,000 (2024 - 8,000) Ordinary shares of £1.00 each | 8,000 | 8,000
11. | Reserves
Revaluation reserve The revaluation reserve represents movements in the valuation of the Company's properties in excess of historic cost. Capital redemption reserve The capital redemption reserve account represents the amount paid by the Company to repurchase its shares in excess of their par value. Profit & loss account The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders.
12. | Contingent liabilities
A contingent liability exists with the parent Company, Salop Leisure Holdings Limited whereby there is a unlimited inter company composite guarantee between Salop Leisure Holdings Limited, Salop Leisure Limited and Bywater Leisure Parks Limited. The bank has the following security: A legal charge over Morben Isaf. A legal charge over the west side of the road from Talisiein to Machynlleth. A legal charge over the north side of Morben Isaf. A legal charge over Tyn y Celyn, Manafon, Welshpool. A legal charge over Gwernydd Park. A debenture charge over all fixed assets held by Bywater Leisure Parks Limited. Page 13
BYWATER LEISURE PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
13. | Related party transactions
| As the Company is a wholly owned subsidiary of Salop Leisure Holdings Limited, the Company has taken advantage of the exemption contained in FRS102 and has therefore not disclosed transactions or balances with its parent company or other wholly owned members of the group. The Group consolidated financial statements of Salop Leisure Holdings Limited, the ultimate parent Company, can be obtained from Companies House. During the year, the Company made purchases totaling £23,604 (2024: £74,383) from Salop Caravans (Sites) Limited, a Company with common directors. Sales of £12,405 (2024: £4,250) were made to Salop Caravan (Sites) Limited during the year. There were no outstanding balances at year end. During the year, the Company made sales totalling £96,739 (2024: £116,895) with a fellow subsidiary. The Company also made purchases of £794,018 (2024: £626,179) with a balance owed to the subsidiary at year-end of £87,910 (2024: £Nil).
14. | Controlling party
The immediate and ultimate parent undertaking is Salop Leisure Holdings Limited, a company incorporated and registered in England and Wales with its registered office located at Emstrey, Shrewsbury, Shropshire, SY5 6QS. The Company is under the control of A T Bywater (Director), M E Bebb (Director) and D W Roberts (Director) by virtue of their interests in the controlling shares of Salop Leisure Holdings Limited.
15. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 13 April 2026 by John Fletcher BA (Hons) FCA (Senior Statutory Auditor) on behalf of WR Partners.
Page 14