REGISTERED NUMBER: 06004556 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

Leisure World Group Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

C M Kinsell

M A Kinsell

SECRETARY:

C M Kinsell

REGISTERED OFFICE:

Gatherley Road

Catterick Bridge

RICHMOND

Yorkshire

DL10 7JB

REGISTERED NUMBER:

06004556 (England and Wales)

SENIOR STATUTORY AUDITOR:

Martin Hobson BA (Hons) FCCA

AUDITORS:

Clive Owen LLP

Chartered Accountants

& Statutory Auditors

140 Coniscliffe Road

Darlington

County Durham

DL3 7RT

REVIEW OF BUSINESS

The directors present their strategic report for the year ended 31 December 2024.

The company's principal activity during the period continued to be a retailer of motorhomes and touring caravans, motor vehicles, and all associated accessories and spare parts.

The key financial and other performance indicators during the period were as follows :

31.12.24 £

31.12.23 £

Change

Turnover

27,693,611

19,832,550

39.6%

Number of employees (excluding directors)

67

66

1.5%

Turnover per employee

413,337

300,493

37.6%

Gross profit margin

10.1%

15.8%

-36.1%

The motorhome and caravan retail sector has experienced a period of contraction, driven by inflationary pressures, higher interest rates, and reduced discretionary consumer spending. These conditions have placed sustained pressure on demand across the sector, resulting in a number of dealership closures across the UK.

Leisure World Group Ltd responded proactively to these conditions. During 2024, the directors undertook a strategic review and concluded that the existing multi-site operating model was no longer aligned with the company's long-term objectives or the evolving retail landscape.

In September 2024, the directors implemented a strategy to consolidate operations from Birtley and York into a single dealership at Catterick, reflecting a shift towards a more efficient, destination-led retail model, supported by continued investment in the site.

The consolidation was completed during the final quarter of 2024, delivering a reduced cost base, improved operational efficiency, and greater control over stock and resources. The results for the year ended 31 December 2024 reflect one-off costs associated with this consolidation.

Following consolidation, the business experienced an overstocking position as inventory from the closed sites was absorbed into the remaining location. This was addressed through an accelerated de-stocking programme to reduce interest-bearing stock and release working capital. Whilst this resulted in short-term margin pressure and increased VAT liabilities, it has reduced ongoing financial commitments and improved stock levels.

The company also progressed the disposal of surplus property assets. The Birtley freehold property was sold in early 2025, with proceeds used to repay the company's mortgage, with the remaining funds supporting working capital. The York property sale was delayed due to restrictive covenants identified during due diligence. During this period, the property remained unoccupied and incurred holding costs, although a tenant was secured in December 2025.

In March 2026, the company completed the sale of the York property. The proceeds were used to repay the company's overdraft in full, leaving the business free of bank debt, with the remaining funds supporting working capital. At the same time, the shareholders resolved that no further dividends would be paid during 2026 to strengthen the company's financial position, confirming that no distributions would be made to shareholders from the proceeds of the property disposals.

Since the year ended 31 December 2024, the shareholders have injected in excess of £1,000,000 of cash into the business, materially strengthening its financial position and supporting ongoing operations.

The directors believe these actions have strengthened the business, which now operates with a streamlined structure, reduced cost base, no bank debt, and strong shareholder support, positioning it for continued stability and future growth.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the company are -

Competitive risk

The company receives a substantial amount of its turnover from customers purchasing caravans and motorhomes. A fall in retail activity within this sector would significantly impact on the turnover of the company.

Exposure to credit risk

Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. Company policies are aimed at minimising such losses, and require that customers provide a deposit in advance of the ordering and sale of goods. Consideration of payment history and customers credit worthiness are taken into account before offering customers deferred payment terms. Details of the company's debtors are shown in note 11 to the financial statements.

Liquidity risk

Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The company aims to mitigate liquidity risk by managing cash generation by its operations and applying cash collection targets.

Supply chain risk

There is a risk that the company isn't able to take delivery of goods ordered due to various issues with the supply chain. The company mitigates this risk by having multiple supplier relationships and agreeing planned deliveries with its key suppliers well in advance of the delivery date.

ON BEHALF OF THE BOARD:

C M Kinsell - Director

26 May 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £ 161,892 .

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

C M Kinsell

M A Kinsell

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Clive Owen LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

C M Kinsell - Director

26 May 2026

Opinion

We have audited the financial statements of Leisure World Group Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

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 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.

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

-	the Strategic Report and the Report of the Directors 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 obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where 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.

Responsibilities of directors

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

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors 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 financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, to detect material misstatements in respect of irregularities, including fraud. Our audit must be alert to the risk of manipulation of the financial statements and seek to understand the incentives and opportunities for management to achieve this.

We undertake the following procedures to identify and respond to these risks of non-compliance:

- Understanding the key legal and regulatory frameworks that are applicable to the Company. We communicated and identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. We determined the most significant of these to be general retail regulations, trading standards, employment law, health & safety, tax legislation and company law.

- Enquiry of directors and management as to policies and procedures to ensure compliance and any known instances of non-compliance.

- Enquiry of directors and management as to areas of the financial statements susceptible to fraud and how these risks are managed.

- Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. These key areas of uncertainty are disclosed in the accounting policies.

- Identifying and testing unusual journal entries, with a particular focus on manual journal entries.

Through these procedures, we did not become aware of actual or suspected non-compliance.

We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion, forgery, misrepresentations, or override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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 Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors 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.

Martin Hobson BA (Hons) FCCA (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

Chartered Accountants

& Statutory Auditors

140 Coniscliffe Road

Darlington

County Durham

DL3 7RT

26 May 2026

TURNOVER

27,693,611

19,832,550

Cost of sales

(24,899,478

)

(16,695,179

)

GROSS PROFIT

2,794,133

3,137,371

Administrative expenses

(3,515,597

)

(3,185,430

)

(721,464

)

(48,059

)

Other operating income

11,010

108,110

OPERATING (LOSS)/PROFIT

4

(710,454

)

60,051

Interest payable and similar expenses

5

(78,747

)

(74,297

)

LOSS BEFORE TAXATION

(789,201

)

(14,246

)

Tax on loss

6

191,813

11,207

LOSS FOR THE FINANCIAL YEAR

(597,388

)

(3,039

)

OTHER COMPREHENSIVE INCOME

Freehold property revaluation

-

1,000,000

Income tax relating to other comprehensive income

-

(250,000

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

750,000

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(597,388

)

746,961

FIXED ASSETS

Intangible assets

8

25,186

37,780

Tangible assets

9

5,377,805

4,789,392

5,402,991

4,827,172

CURRENT ASSETS

Stocks

10

10,730,879

10,642,732

Debtors

11

3,531,615

2,346,031

Cash in hand

-

3,233

14,262,494

12,991,996

CREDITORS

Amounts falling due within one year

12

(15,429,152

)

(12,510,041

)

NET CURRENT (LIABILITIES)/ASSETS

(1,166,658

)

481,955

TOTAL ASSETS LESS CURRENT LIABILITIES

4,236,333

5,309,127

CREDITORS

Amounts falling due after more than one year

13

(905,165

)

(1,026,866

)

PROVISIONS FOR LIABILITIES

17

(250,235

)

(442,048

)

NET ASSETS

3,080,933

3,840,213

CAPITAL AND RESERVES

Called up share capital

18

7,000

7,000

Property revaluation reserve

19

1,397,088

1,397,088

Retained earnings

19

1,676,845

2,436,125

SHAREHOLDERS' FUNDS

3,080,933

3,840,213

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2026 and were signed on its behalf by:

C M Kinsell - Director

Called up

Property

share

Retained

revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

7,000

2,701,056

647,088

3,355,144

Changes in equity

Dividends

-

(261,892

)

-

(261,892

)

Total comprehensive income

-

(3,039

)

750,000

746,961

Balance at 31 December 2023

7,000

2,436,125

1,397,088

3,840,213

Changes in equity

Dividends

-

(161,892

)

-

(161,892

)

Total comprehensive income

-

(597,388

)

-

(597,388

)

Balance at 31 December 2024

7,000

1,676,845

1,397,088

3,080,933

1.	STATUTORY INFORMATION

Leisure World Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Going concern

During 2023 and 2024, the business and its sector faced a significant decline in consumer activity driven by global conflicts (Ukraine and the Middle East), high inflation, rising living costs, and increased interest and mortgage rates.

In response, the directors strategically acquired market share and turnover through reduced operating margins, and invested in developing a single destination dealership, resulting in the decision being made that satellite branches were no longer necessary to achieve business objectives. As a result, the three businesses were consolidated into one supersite during autumn and winter 2024, delivering immediate operational efficiencies and cost savings.

In February 2025, the company completed the sale of its Birtley freehold premises. In March 2026 the company also completed the sale its York freehold premises. This has eliminated all bank debts, and reduced creditor balances.

The shareholders have input over £1,000,000 to the company during 2025 and 2026 to assist with working capital.

.

The directors are confident that continued investment in the Catterick destination dealership, combined with consolidation efficiencies, will strengthen the business financially and uniquely position it as the only destination dealership of its kind in the North East of England.

Accordingly, the directors believe it is appropriate to prepare the financial statements on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Stock provisions - Management applies procedures to identify defective, slow moving and obsolete stocks. An estimation is made of the price obtainable in the market in which the goods are expected to be sold and any costs of completion and sale are taken into account. The value of stock is reduced by the deficit between the cost and estimated net realisable value of the stock in the form of a stock provision.

Freehold and leasehold property valuations - property is held at fair value and management is required to estimate the value at the period end. The leasehold property was valued by an independent RISC register valuer. The freehold property is valued based on the amounts either achieved for sale post year-end, or expected to be achieved as at 31 December 2024.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition

Income is recognised on the delivery of a caravan, car or motorhome, point of sale of an accessory or when a service is performed.

Intangible assets

Intangible assets relate to website development costs. These are initially recognised at cost and subsequently at cost less any accumulated amortisation and any accumulated impairment losses.

The website development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Long leasehold

-

not provided

Improvements to property

-

2% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

Long leasehold and freehold properties are held at their fair value. As a result no depreciation is provided.

Other tangible assets are held at cost less accumulated depreciation and impairments.

The directors perform annual impairment reviews to determine whether there is any indication that assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

Stocks

Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell, after making allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Realised exchange differences are taken into account in arriving at the operating result. Unrealised gains or losses arising on translation at the balance sheet date are recognised in the Statement of Other Comprehensive Income.

Operating leases

All operating leases are charged to the profit and loss account on a straight line basis over the lease term.

Finance stock not delivered

Finance stock not delivered consists of vehicles which have been purchased on finance and invoiced, however the company cannot yet access or control this stock. Once the company can access and control the stock, it is recognised within stock.

3.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

1,669,804

1,620,394

Social security costs

143,151

131,147

Other pension costs

29,252

29,500

1,842,207

1,781,041

The average number of employees during the year was as follows:

2024

2023

Administration and sales

67

66

Directors

2

2

69

68

2024

2023

£

£

Directors' remuneration

18,200

25,140

Directors' pension contributions to money purchase schemes

220

294

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

4.	OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

2024

2023

£

£

Depreciation - owned assets

85,162

76,946

Depreciation - assets on hire purchase contracts

49,500

49,500

Development costs amortisation

12,594

12,594

Auditors' remuneration

88,057

22,080

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank loan interest

69,753

64,757

Other interest payable

8,994

9,540

78,747

74,297

6.

TAXATION

Analysis of the tax credit

The tax credit on the loss for the year was as follows:

2024

2023

£

£

Deferred tax

(191,813

)

(11,207

)

Tax on loss

(191,813

)

(11,207

)

Reconciliation of total tax credit included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024

2023

£

£

Loss before tax

(789,201

)

(14,246

)

Loss multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

(197,300

)

(3,562

)

Effects of:

Expenses not deductible for tax purposes

1,645

2,788

Depreciation in excess of capital allowances

3,842

1,845

Group relief

-

(12,278

)

Total tax credit

(191,813

)

(11,207

)

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 December 2024.

2023

Gross

Tax

Net

£

£

£

Freehold property revaluation

1,000,000

(250,000

)

750,000

7.

DIVIDENDS

2024

2023

£

£

Interim

161,892

261,892

8.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 January 2024

and 31 December 2024

50,374

AMORTISATION

At 1 January 2024

12,594

Amortisation for year

12,594

At 31 December 2024

25,188

NET BOOK VALUE

At 31 December 2024

25,186

At 31 December 2023

37,780

9.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Long

to

property

leasehold

property

£

£

£

COST OR VALUATION

At 1 January 2024

3,025,000

950,000

384,967

Additions

-

-

516,246

At 31 December 2024

3,025,000

950,000

901,213

DEPRECIATION

At 1 January 2024

-

-

4,646

Charge for year

-

-

12,862

At 31 December 2024

-

-

17,508

NET BOOK VALUE

At 31 December 2024

3,025,000

950,000

883,705

At 31 December 2023

3,025,000

950,000

380,321

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

676,220

336,686

219,182

5,592,055

Additions

187,978

-

18,851

723,075

At 31 December 2024

864,198

336,686

238,033

6,315,130

DEPRECIATION

At 1 January 2024

439,371

145,633

213,013

802,663

Charge for year

53,700

49,500

18,600

134,662

At 31 December 2024

493,071

195,133

231,613

937,325

NET BOOK VALUE

At 31 December 2024

371,127

141,553

6,420

5,377,805

At 31 December 2023

236,849

191,053

6,169

4,789,392