REGISTERED NUMBER: 07914581 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 December 2024

for

LWG Group Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Statement of Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

18

DIRECTORS:

C M Kinsell

M A Kinsell

SECRETARY:

C M Kinsell

REGISTERED OFFICE:

C/O Leisure World Group Limited

Gatherley Road

Brompton on Swale

RICHMOND

North Yorkshire

DL10 7JB

REGISTERED NUMBER:

07914581 (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

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

The group'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.

The Leisure World Group 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 group also progressed the disposal of surplus property assets. The Birtley freehold property was sold in early 2025, with proceeds used to repay the group'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 group completed the sale of the York property. The proceeds were used to repay the group's overdraft in full, leaving the business free of bank debt, with the remaining funds supporting working capital It only now has a short term funding loan in place as detailed in the post balance sheet event note. . At the same time, the shareholders resolved that no further dividends would be paid during 2026 to strengthen the group'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 and strong shareholder support, positioning it for continued stability and future growth.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the group are -

Competitive risk

The group receive 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. Group 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 group debtors are shown in note 13 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 group 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 group isn't able to take delivery of goods ordered due to various issues with the supply chain. The group 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 and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of a retailer of motorhomes and touring caravans, motor vehicles, and all associated accessories and spare parts.

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 Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group'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 LWG Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31 December 2024 and of the group's 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 group 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 group's and 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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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 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 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 group's and the parent 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 group or the parent 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 Group. 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, taxation 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

(3,485,710

)

(3,158,594

)

(691,577

)

(21,223

)

Other operating income

11,010

8,110

OPERATING LOSS

4

(680,567

)

(13,113

)

Interest payable and similar expenses

5

(78,747

)

(77,771

)

LOSS BEFORE TAXATION

(759,314

)

(90,884

)

Tax on loss

6

191,813

11,207

LOSS FOR THE FINANCIAL YEAR

(567,501

)

(79,677

)

OTHER COMPREHENSIVE INCOME

Freehold property revaluation

300,000

1,000,000

Income tax relating to other comprehensive income

(75,000

)

(250,000

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

225,000

750,000

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(342,501

)

670,323

Loss attributable to:

Owners of the parent

(567,501

)

(79,677

)

Total comprehensive income attributable to:

Owners of the parent

(342,501

)

670,323

FIXED ASSETS

Intangible assets

9

(154,992

)

(172,427

)

Tangible assets

10

7,863,638

6,975,225

Investments

11

-

-

7,708,646

6,802,798

CURRENT ASSETS

Stocks

12

10,730,879

10,642,732

Debtors

13

3,592,353

2,406,769

Cash at bank and in hand

-

3,980

14,323,232

13,053,481

CREDITORS

Amounts falling due within one year

14

(15,500,972

)

(12,577,671

)

NET CURRENT (LIABILITIES)/ASSETS

(1,177,740

)

475,810

TOTAL ASSETS LESS CURRENT LIABILITIES

6,530,906

7,278,608

CREDITORS

Amounts falling due after more than one year

15

(163,532

)

(290,028

)

PROVISIONS FOR LIABILITIES

19

(619,574

)

(736,387

)

NET ASSETS

5,747,800

6,252,193

CAPITAL AND RESERVES

Called up share capital

20

2,000,140

2,000,140

Property revaluation reserve

21

1,757,921

1,532,921

Other reserves

21

6,930

6,930

Retained earnings

21

1,982,809

2,712,202

SHAREHOLDERS' FUNDS

5,747,800

6,252,193

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

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

-

-

Investments

11

2,000,072

2,000,072

2,000,072

2,000,072

CURRENT ASSETS

Debtors

13

212,217

211,552

Cash at bank

-

747

212,217

212,299

CREDITORS

Amounts falling due within one year

14

(2

)

(2

)

NET CURRENT ASSETS

212,215

212,297

TOTAL ASSETS LESS CURRENT LIABILITIES

2,212,287

2,212,369

CAPITAL AND RESERVES

Called up share capital

20

2,000,140

2,000,140

Retained earnings

21

212,147

212,229

SHAREHOLDERS' FUNDS

2,212,287

2,212,369

Company's profit for the financial year

161,810

298,523

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

Other

Total

capital

earnings

reserve

reserves

equity

£

£

£

£

£

Balance at 1 January 2023

2,000,140

3,053,771

782,921

6,930

5,843,762

Changes in equity

Dividends

-

(261,892

)

-

-

(261,892

)

Total comprehensive income

-

(79,677

)

750,000

-

670,323

Balance at 31 December 2023

2,000,140

2,712,202

1,532,921

6,930

6,252,193

Changes in equity

Dividends

-

(161,892

)

-

-

(161,892

)

Total comprehensive income

-

(567,501

)

225,000

-

(342,501

)

Balance at 31 December 2024

2,000,140

1,982,809

1,757,921

6,930

5,747,800

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

2,000,140

175,598

2,175,738

Changes in equity

Dividends

-

(261,892

)

(261,892

)

Total comprehensive income

-

298,523

298,523

Balance at 31 December 2023

2,000,140

212,229

2,212,369

Changes in equity

Dividends

-

(161,892

)

(161,892

)

Total comprehensive income

-

161,810

161,810

Balance at 31 December 2024

2,000,140

212,147

2,212,287

Cash flows from operating activities

Cash generated from operations

1

1,052,105

1,162,384

Interest paid

(78,747

)

(77,771

)

Tax paid

(257,625

)

(242,867

)

Net cash from operating activities

715,733

841,746

Cash flows from investing activities

Purchase of intangible fixed assets

-

(50,374

)

Purchase of tangible fixed assets

(723,075

)

(363,206

)

Net cash from investing activities

(723,075

)

(413,580

)

Cash flows from financing activities

Loan repayments in year

(109,021

)

(103,939

)

Capital repayments in year

(47,015

)

(47,016

)

Amount withdrawn by directors

(33,618

)

(520,962

)

Equity dividends paid

(161,892

)

(261,892

)

Net cash from financing activities

(351,546

)

(933,809

)

Decrease in cash and cash equivalents

(358,888

)

(505,643

)

Cash and cash equivalents at beginning of year

2

(813,796

)

(308,153

)

Cash and cash equivalents at end of year

2

(1,172,684

)

(813,796

)

1.	RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

Loss before taxation

(759,314

)

(90,884

)

Depreciation charges

117,227

109,011

Finance costs

78,747

77,771

(563,340

)

95,898

Increase in stocks

(88,147

)

(1,766,220

)

(Increase)/decrease in trade and other debtors

(1,151,966

)

93,102

Increase in trade and other creditors

2,855,558

2,739,604

Cash generated from operations

1,052,105

1,162,384

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

-

3,980

Bank overdrafts

(1,172,684

)

(817,776

)

(1,172,684

)

(813,796

)

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

3,980

5,654

Bank overdrafts

(817,776

)

(313,807

)

(813,796

)

(308,153

)

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

3,980

(3,980

)

-

Bank overdrafts

(817,776

)

(354,908

)

(1,172,684

)

(813,796

)

(358,888

)

(1,172,684

)

Debt

Finance leases

(64,491

)

47,015

(17,476

)

Debts falling due within 1 year

(109,021

)

-

(109,021

)

Debts falling due after 1 year

(272,553

)

109,021

(163,532

)

(446,065

)

156,036

(290,029

)

Total

(1,259,861

)

(202,852

)

(1,462,713

)

1.	STATUTORY INFORMATION

LWG 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 General 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 group completed the sale of its Birtley freehold premises. In March 2026 the group also completed the sale of its York freehold site. This has eliminated all bank debts in the subsidiary Leisure World Group Limited, and as of April 2026 leaves the group with a short term funding loan of close to £1,000,000 including rolled up interest, as explained in the post balance sheet event note, as the only external group loan aside from the stock funding

The shareholders have input over £1,000,000 to the group 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.

Basis of consolidation

The financial statements consolidate the financial statements of LWG Group Limited and its subsidiaries: Leisure World Group Limited, Ebor Leisure World Limited, Tyneside Leisure World Limited, Catterick Property Holdings Limited and Catterick Property Developments Limited. All of the entities financial statements are made up to the 31 December 2024 and transactions between the group companies have been eliminated on consolidation. No separate income statement for LWG Group Limited is presented, as permitted by Section 406 of the Companies Act 2006.

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 and one of the freehold property site was valued by an independent RICS registered valuer. The two other freehold property sites are valued based on the amounts either achieved for sale post year-end, or expected to be achieved as at 31 December 2024.

Related party exemption

The company

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.

Goodwill

Negative goodwill relating to the acquisition of Catterick Property Holdings Limited in March 2021, is being amortised over a 10 year period.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of four years.

Development costs

Intangible development costs relate to the website development costs which have been identified as being capital in nature.