Registered number: 06146154
FOR THE YEAR ENDED 31 DECEMBER 2025
SALOP LEISURE HOLDINGS LIMITED
COMPANY INFORMATION
SALOP LEISURE HOLDINGS LIMITED
CONTENTS
SALOP LEISURE HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors present the results of the Group for the year ended 31 December 2025.
The Directors are pleased with the results in what was another turbulent period due to increasing inflationary costs. We are mindful of the continuing and current uncertainty in the global and local political, economic and health environments. The leisure industry continues to experience difficult trading period and despite this the Group continues to report steady profits and to display a strong balance sheet, with Net Current Assets of £5.2m and Net Assets in excess of £23.9m. The Directors are grateful to their customers, trading partners, the applicable local Authorities, and to other stakeholders for their ongoing support.
The Directors are pleased with the results in what was another turbulent period due to increasing inflationary costs. We are mindful of the continuing and current uncertainty in the global and local political, economic and health environments. The leisure industry continues to experience difficult trading period and despite this the Group continues to report steady profits and to display a strong balance sheet, with Net Current Assets of £5.2m and Net Assets in excess of £23.9m. The Directors are grateful to their customers, trading partners, the applicable local Authorities, and to other stakeholders for their ongoing support.
The performance of the business and its exposure to risks and uncertainties is constantly monitored. The Directors are of the opinion that the principal risks facing the Group relate to the wider economic and health conditions, those conditions which influence demand and the ability to trade and continue to focus on customer satisfaction.
The Directors are mindful of health and safety regulatory compliance and all aspects of public liability are comprehensively covered by appropriate insurance.
The Directors are mindful of health and safety regulatory compliance and all aspects of public liability are comprehensively covered by appropriate insurance.
The Group measures its financial performance and position by reference to key performance indicators. Financial performance is principally measured by reference to turnover and operating profit and the position of the Group by reference to net current assets and net assets. The Directors consider that the accounts provide an adequate analysis of the Group's performance in the year and its position at the year end in relation to these key performance indicators.
The Group uses a suite of targeted non-financial key performance indicators to monitor and measure performance on a daily, weekly and monthly basis which covers the whole business operating spectrum reflecting the changing needs of the business.
As the Board of Salop Leisure Holdings Ltd we have a legal responsibility under s172 of the Companies Act 2006 to act in a way we consider, in good faith, would be most likely to promote the Group's success for the benefit of its members as a whole, and to have regard to the long term effect of our decisions on the Group and its stakeholders. We continue to work closely with suppliers, trading partners and customers to ensure fairness and excellent customer satisfaction. This statement addresses the ways in which we as a board discharge this responsibility.
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SALOP LEISURE HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Promoting the Group's success for its members
Salop Leisure Holdings Ltd and its subsidiary companies started life as Salop Caravans in 1966. We moved from our original showroom at Meole Brace in Shrewsbury to a purpose built, brand new, state of the art caravan showroom at Emstrey, just outside Shrewsbury in 2006. In 1995, the Group expanded with the formation of Funnyflower Ltd which later changed its name to Bywater Leisure Parks Ltd and now owns and operates two caravan parks in Mid Wales.
We are proud of the ways in which, for over half a century, the Group has provided employment training and financial reward for its owners and employees.
Working with the top UK leisure manufacturers we are now the premier caravan, campervan, holiday home and motorhome dealer in the Midlands and Mid Wales.
Engaging with stakeholders
Our People
The Group is committed to being a responsible business. Our behaviour is aligned to the expectations of our people, clients, investors and society as a whole.
People are at the heart of our services, for our business to succeed we need to manage our people’s performance and develop and bring through talent while ensuring we operate as efficiently as possible.
Business Relationships
Our strategy prioritises organic growth, driven by cross selling and up selling to existing customers and bringing new customers into the group. To achieve this, we need to develop and maintain strong customer relationships.
We value all of our suppliers and have multi-year relationships with all our key suppliers.
Our Community
The Group’s approach is to use our resources to create positive change for the people and communities with which we interact. Specific not for profit organisation / clubs including local charities benefit from the fund raising events organised throughout the year.
Salop Leisure Holdings Ltd and its subsidiary companies started life as Salop Caravans in 1966. We moved from our original showroom at Meole Brace in Shrewsbury to a purpose built, brand new, state of the art caravan showroom at Emstrey, just outside Shrewsbury in 2006. In 1995, the Group expanded with the formation of Funnyflower Ltd which later changed its name to Bywater Leisure Parks Ltd and now owns and operates two caravan parks in Mid Wales.
We are proud of the ways in which, for over half a century, the Group has provided employment training and financial reward for its owners and employees.
Working with the top UK leisure manufacturers we are now the premier caravan, campervan, holiday home and motorhome dealer in the Midlands and Mid Wales.
Engaging with stakeholders
Our People
The Group is committed to being a responsible business. Our behaviour is aligned to the expectations of our people, clients, investors and society as a whole.
People are at the heart of our services, for our business to succeed we need to manage our people’s performance and develop and bring through talent while ensuring we operate as efficiently as possible.
Business Relationships
Our strategy prioritises organic growth, driven by cross selling and up selling to existing customers and bringing new customers into the group. To achieve this, we need to develop and maintain strong customer relationships.
We value all of our suppliers and have multi-year relationships with all our key suppliers.
Our Community
The Group’s approach is to use our resources to create positive change for the people and communities with which we interact. Specific not for profit organisation / clubs including local charities benefit from the fund raising events organised throughout the year.
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SALOP LEISURE HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Future developments
The business continues to explore the possibility of developing further profit centres within the curtilage, however the ability to invest is significantly curtailed due to the Governments fiscal policies including the increased NI costs, Business rateable values and also the cost of borrowing the group.
This report was approved by the board and signed on its behalf.
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SALOP LEISURE HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors present their report and the financial statements for the year ended 31 December 2025.
The Directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments 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 Group will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Group's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' Reports may differ from legislation in other jurisdictions.
The profit for the year, after taxation, amounted to £871,922 (2024 - £1,674,952).
A dividend of £330,000 (2024: £400,000) has been paid to the directors.
The Directors who served during the year were:
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SALOP LEISURE HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
UK Greenhouse gas emissions and energy data use for the period 1 January 2025 to 31 December 2025:
Quantification and reporting methodology
We have followed the March 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol - Corporate Standard and have used the 2025 UK Government's Conversion Factors for Company Reporting.
Intensity Measurement
The chosen intensity measurement ratios are total gross emissions in metric tonnes CO2e per £M Sales Revenue and is total gross emissions in metric tonnes CO2e per employee, the recommended ratios for the group.
We have followed the March 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol - Corporate Standard and have used the 2025 UK Government's Conversion Factors for Company Reporting.
Intensity Measurement
The chosen intensity measurement ratios are total gross emissions in metric tonnes CO2e per £M Sales Revenue and is total gross emissions in metric tonnes CO2e per employee, the recommended ratios for the group.
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SALOP LEISURE HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Measurements taken to improve energy efficiency
We have installed CHP boilers, Solar PV panels, LED Lighting, Air Source Heat Pumps, water boreholes, and increased video conferencing technology for staff meetings, to reduce the need for travel between sites. Included within any building project undertaken is the planting of a number of trees to help offset our emissions. When company cars are replaced, we are replacing with hybrid models and have installed charging points for our staff and installed further points for customers.
We have installed CHP boilers, Solar PV panels, LED Lighting, Air Source Heat Pumps, water boreholes, and increased video conferencing technology for staff meetings, to reduce the need for travel between sites. Included within any building project undertaken is the planting of a number of trees to help offset our emissions. When company cars are replaced, we are replacing with hybrid models and have installed charging points for our staff and installed further points for customers.
There have been no significant events affecting the Group since the year end.
The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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SALOP LEISURE HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SALOP LEISURE HOLDINGS LIMITED
We have audited the financial statements of Salop Leisure Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
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SALOP LEISURE HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SALOP LEISURE HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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SALOP LEISURE HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SALOP LEISURE HOLDINGS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and the Group and determined that the most significant are those that relate to the reporting framework (FRS102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General Data Protection Regulation (GDPR).
We understood how the Company and the Group are complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We also reviewed board minutes to identify any recorded instances of irregularity or non compliance that might have a material impact on the financial statements.
We assessed the susceptibility of the Company and Group's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on our understanding our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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SALOP LEISURE HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SALOP LEISURE HOLDINGS LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Belmont House
Shrewsbury Business Park
Shropshire
SY2 6LG
Date:
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SALOP LEISURE HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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SALOP LEISURE HOLDINGS LIMITED
REGISTERED NUMBER: 06146154
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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SALOP LEISURE HOLDINGS LIMITED
REGISTERED NUMBER: 06146154
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 46 form part of these financial statements.
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SALOP LEISURE HOLDINGS LIMITED
REGISTERED NUMBER: 06146154
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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SALOP LEISURE HOLDINGS LIMITED
REGISTERED NUMBER: 06146154
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 46 form part of these financial statements.
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SALOP LEISURE HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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SALOP LEISURE HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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SALOP LEISURE HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
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SALOP LEISURE HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Salop Leisure Holdings Limited (06146154) is a private company, limited by shares, incorporated in England and Wales, domiciled in the UK and has its registered office and principal place of business at Emstrey, Shrewsbury, Shropshire, SY5 6QS.
The principal activity of the Group is that of the sales of holiday homes and equipment.
The principal activity of the Group is that of the sales of holiday homes and equipment.
2.Accounting policies
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 Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 October 2014.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 October 2014.
The Group's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Group should be able to operate within the level of its current facilities.
The Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The Group therefore continues to adopt the going concern basis in preparing its financial statements.
The Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The Group therefore continues to adopt the going concern basis in preparing its financial statements.
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Goodwill
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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:
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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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Group 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 Group's Statement of Financial Position when the Group 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 Group'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.
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the relates actual results. In the opinion of the Directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying value of assets and liabilities within the next financial year.
Stock impairment provision
The Group provides a provision for slow moving and obsolete stock, which is calculated as a fixed percentage of stock that has not moved in the previous 9 months. The percentage applied varies depending on class on the unit, but is consistent for each individual unit in that class. The total provision for slow moving and obsolete stock at the balance sheet date is £1,057,759 (2024: £1,203,097)
Warranty provision
The Group provides a provision for estimated warranty costs on products sold during the period or in a prior financial year where the product is still under warranty. For these products, the Group has either entered into an uninsured warranty contract leading to a legal obligation or has a constructive obligation in relation to the warranty of these products. The provision is based on the number of warranted units sold and the estimated costs based on past experience. The total provision at balance sheet date is disclosed in note 25 of these accounts.
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The whole of the turnover is attributable to the Group's principal activity of the running of leisure parks and the sale of holiday homes and related equipment.
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 30
SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
15.Tangible fixed assets (continued)
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
15.Tangible fixed assets (continued)
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
15.Tangible fixed assets (continued)
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 38
SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 39
SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 40
SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
22.Loans (continued)
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SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Page 42
SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
24.Deferred taxation (continued)
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Page 43
SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Revaluation reserve
Profit and loss account
Page 44
SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Group operates a number of defined contribution pension schemes. The assets are held separately from those of the Group in independently administered funds. The pension costs charge represents contributions payable to the funds and amounted to £118,077 (2024: £129,156). There were amounts outstanding at the end of the period of £10,000 (2024: £10,000).
Page 45
SALOP LEISURE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Group is controlled by the Directors by virtue of their respective shareholdings.
Page 46