REGISTERED NUMBER: 06910620 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 August 2025

for

SRG Park Holdings Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

12

Consolidated Balance Sheet

13

Company Balance Sheet

14

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Cash Flow Statement

17

Notes to the Consolidated Cash Flow Statement

18

Notes to the Consolidated Financial Statements

19

DIRECTORS:

Mr S Geranio

Mrs R Geranio

Mr J Dunn

REGISTERED OFFICE:

1 Saxon House

Headway Business Park

Corby

Northamptonshire

NN18 9EZ

REGISTERED NUMBER:

06910620 (England and Wales)

AUDITORS:

Clifford Roberts - Statutory Auditor

63 Broad Green

Wellingborough

Northamptonshire

NN8 4LQ

Principal Activities

The principal activity of the group during the year continued to be:

- Management of residential and touring parks;

- Development of residential park home sites; and

- Manufacture of residential and holiday park homes.

Business review

The Directors report that the group made a loss before tax of £912,772 (2024: £3,088,979). Shareholders funds amounted to £(1,336,700) (2024: £(763,612)) . The loss before tax is a result of the continued trade in the groups principal activities.

Key performance indicators ('KPIs')

2025

2024

£

£

Turnover

14,037,245

18,110,108

Profit/(Loss) before taxation

(1,026,314

)

(3,088,979

)

Shareholder's funds

(1,336,700

)

(763,612

)

The key performance indicators reflect a year of consolidation in line with a difficult economic backdrop and a weaker market for holiday home sale.

Principal risk and Uncertainties

Given the size of the group, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board.

General economic Risk

The group is exposed to general economic risk, including changes in the economic outlook in the mobile home sector. Increasing levels of inflation and disruption to supply chains caused by various worldwide events and the financial and economic uncertainty that this brings. The Group is also exposed to the risk of future government changes in industrial, fiscal, monetary or regulatory policies. The Group has an effective revenue strategy by monitoring costs and demand. This reduces, though does not eliminate, the financial impact arising from such adverse conditions.

Price Risk

The group is exposed to price risk due to normal inflationary increases in the purchase price of goods and services in the UK.

Demand risk

The most significant factor influencing the level of demand for new park homes doesn't continue. The Group responds to changes in the market and customer demands to try and maintain its significant position in the market.

Quality risk

Failure to meet customer expectation in terms of quality. The group is at the forefront of innovation and is continually looking for ways to improve and manufacture homes, develop sites and improve the customer experience. The Directors work closely with customers and suppliers to ensure that the products meet or exceed expectations as far as possible.

Credit risk

The Group seeks to manage its credit risk by establishing clear contractual relationships with customers and by identifying and addressing any credit issues arising in a timely manner.

Liquidity Risk

The group holds long-term debt finance that is designed to ensure the group has sufficient funds for operations. Management maintains cash flow in order to ensure the Group is able to meet its liabilities as they fall due.

Interest rate Risk

The group has both interest bearing assets and interest bearing liabilities. Interest bearing assets include cash balances which earn interest at variable rates. The directors will revisit the appropriateness of this policy should the group's operations change in size or nature.

Future Developments

The Group has plans for further expansion. The management are focused on developing current sites but have decided to withdraw from manufacturing. This will be done over a period of time during which they will continue to support their manufacturing operations.

ON BEHALF OF THE BOARD:

Mr S Geranio - Director

29 May 2026

The directors present their report with the financial statements of the company and the group for the year ended 31 August 2025.

DIVIDENDS

During the year the company paid dividends amounting to £Nil (2024 - £500,134).

DIRECTORS

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

Mr S Geranio

Mrs R Geranio

Mr J Dunn

Other changes in directors holding office are as follows:

Mr E Jones - deceased 6 November 2024

Mr P Howard ceased to be a director after 31 August 2025 but prior to the date of this report.

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Clifford Roberts - Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr S Geranio - Director

29 May 2026

Opinion

We have audited the financial statements of SRG Park Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2025 which comprise the Consolidated Income Statement, Consolidated Other 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 August 2025 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.

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:

-

We obtained an understanding of the legal and regulatory framework applicable to the group and parent company and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006, UK Generally Accepted Accounting Practice and UK corporate taxation laws.

-

We obtained an understanding of how the group and parent company is complying with those legal and regulatory frameworks by making inquiries to the management and by observing the oversight of management, the culture of honesty and ethical behaviour and whether strong emphasis is placed on fraud prevention, which may reduce the opportunities for fraud to take place, and fraud deterrence, which could persuade individuals not to commit fraud in the first instance . We corroborated our inquiries through our review of all relevant available audit information.

-

We assessed and understood the susceptibility of the group and parent company's financial statements to material misstatement, including how fraud might occur. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. The audit procedures performed by the engagement team included:

>

Identifying and assessing the design and effectiveness of controls management has in place to prevent and detect fraud;

>

Understanding of how senior management considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

>

Challenging assumptions and judgements made by management in its significant accounting estimates;

>

Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; and,

>

Assessing the extent of compliance with relevant laws and regulations.

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 consolidated 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 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.

Julian Payne BA Hons FCA (Senior Statutory Auditor)

for and on behalf of Clifford Roberts - Statutory Auditor

63 Broad Green

Wellingborough

Northamptonshire

NN8 4LQ

30 May 2026

TURNOVER

3

9,475,079

4,562,166

14,037,245

Cost of sales

(5,767,579

)

(3,886,888

)

(9,654,467

)

GROSS PROFIT

3,707,500

675,278

4,382,778

Administrative expenses

(3,605,256

)

(659,225

)

(4,264,481

)

102,244

16,053

118,297

Other operating income

6,694

-

6,694

GROUP OPERATING PROFIT

5

108,938

16,053

124,991

Share of operating loss in

Joint ventures

24

-

24

Associates

(401,686

)

-

(401,686

)

Interest receivable and similar income

65,893

-

65,893

Interest payable and similar expenses

6

(815,536

)

-

(815,536

)

(LOSS)/PROFIT BEFORE TAXATION

(1,042,367

)

16,053

(1,026,314

)

Tax on (loss)/profit

7

113,542

-

113,542

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(928,825

)

16,053

(912,772

)

(Loss)/profit attributable to:

Owners of the parent

(855,307

)

Non-controlling interests

(57,465

)

(912,772

)

TURNOVER

3

9,663,021

8,447,087

18,110,108

Cost of sales

(5,871,475

)

(7,588,873

)

(13,460,348

)

GROSS PROFIT

3,791,546

858,214

4,649,760

Administrative expenses

(4,010,105

)

(1,516,443

)

(5,526,548

)

(218,559

)

(658,229

)

(876,788

)

Other operating income

9,595

-

9,595

GROUP OPERATING LOSS

5

(208,964

)

(658,229

)

(867,193

)

Share of operating loss in

Joint ventures

(51,496

)

-

(51,496

)

Interest receivable and similar income

65,634

-

65,634

Amounts written off investments

Group

-

-

-

Joint ventures

(269,364

)

-

(269,364

)

Interest payable and similar expenses

6

(1,895,504

)

(71,056

)

(1,966,560

)

LOSS BEFORE TAXATION

(2,359,694

)

(729,285

)

(3,088,979

)

Tax on loss

7

68,255

158,310

226,565

LOSS FOR THE FINANCIAL YEAR

(2,291,439

)

(570,975

)

(2,862,414

)

Loss attributable to:

Owners of the parent

(2,602,162

)

Non-controlling interests

(260,252

)

(2,862,414

)

LOSS FOR THE YEAR

(912,772

)

(2,862,414

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(912,772

)

(2,862,414

)

Total comprehensive income attributable to:

Owners of the parent

(693,299

)

(2,602,161

)

Non-controlling interests

(219,473

)

(260,253

)

(912,772

)

(2,862,414

)

FIXED ASSETS

Intangible assets

10

215,971

379,705

Tangible assets

11

21,678,282

22,447,606

Investments

12

Interest in joint venture

Share of gross assets

-

292,695

Share of gross liabilities

-

(277,416

)

21,894,253

22,842,590

CURRENT ASSETS

Stocks

13

5,057,196

5,771,731

Debtors

14

980,658

2,824,298

Cash at bank and in hand

791,821

1,883,290

6,829,675

10,479,319

CREDITORS

Amounts falling due within one year

15

16,810,268

15,050,810

NET CURRENT LIABILITIES

(9,980,593

)

(4,571,491

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,913,660

18,271,099

CREDITORS

Amounts falling due after more than one year

16

13,533,269

19,098,147

NET LIABILITIES

(1,619,609

)

(827,048

)

CAPITAL AND RESERVES

Called up share capital

21

100

100

Retained earnings

22

(1,336,800

)

(763,712

)

SHAREHOLDERS' FUNDS

(1,336,700

)

(763,612

)

NON-CONTROLLING INTERESTS

23

(282,909

)

(63,436

)

TOTAL EQUITY

(1,619,609

)

(827,048

)

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2026 and were signed on its behalf by:

Mr S Geranio - Director

FIXED ASSETS

Intangible assets

10

7,942

1,562

Tangible assets

11

7,110,313

7,154,254

Investments

12

10,478,622

11,216,826

17,596,877

18,372,642

CURRENT ASSETS

Stocks

13

699,836

531,600

Debtors

14

3,118,705

2,692,887

Cash at bank and in hand

200,930

744,122

4,019,471

3,968,609

CREDITORS

Amounts falling due within one year

15

8,929,900

9,581,101

NET CURRENT LIABILITIES

(4,910,429

)

(5,612,492

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,686,448

12,760,150

CREDITORS

Amounts falling due after more than one year

16

(11,879,875

)

(12,211,652

)

PROVISIONS FOR LIABILITIES

20

(117,676

)

(143,599

)

NET ASSETS

688,897

404,899

CAPITAL AND RESERVES

Called up share capital

21

100

100

Retained earnings

688,797

404,799

SHAREHOLDERS' FUNDS

688,897

404,899

Company's profit/(loss) for the financial year

283,998

(1,043,845

)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2026 and were signed on its behalf by:

Mr S Geranio - Director

Called up

share

Retained

Non-controlling

Total

capital

earnings

Total

interests

equity

£

£

£

£

£

Balance at 1 September 2023

100

2,338,584

2,338,684

196,817

2,535,501

Changes in equity

Dividends

-

(500,134

)

(500,134

)

-

(500,134

)

Total comprehensive income

-

(2,602,162

)

(2,602,162

)

(260,253

)

(2,862,415

)

Balance at 31 August 2024

100

(763,712

)

(763,612

)

(63,436

)

(827,048

)

Changes in equity

Reversal of impairment on acq

-

282,219

282,219

-

282,219

Total comprehensive income

-

(855,307

)

(855,307

)

(219,473

)

(1,074,780

)

Balance at 31 August 2025

100

(1,336,800

)

(1,336,700

)

(282,909

)

(1,619,609

)

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 September 2023

100

1,948,778

1,948,878

Changes in equity

Dividends

-

(500,134

)

(500,134

)

Total comprehensive income

-

(1,043,845

)

(1,043,845

)

Balance at 31 August 2024

100

404,799

404,899

Changes in equity

Total comprehensive income

-

283,998

283,998

Balance at 31 August 2025

100

688,797

688,897

Cash flows from operating activities

Cash generated from operations

1

892,233

(1,510,209

)

Interest paid

(815,536

)

(1,966,560

)

Tax paid

(5,000

)

(241,979

)

Net cash from operating activities

71,697

(3,718,748

)

Cash flows from investing activities

Purchase of intangible fixed assets

(8,850

)

(13,433

)

Purchase of tangible fixed assets

(429,954

)

(5,056,593

)

Sale of tangible fixed assets

413,392

732,369

Sale of fixed asset investments

(294,609

)

-

Purchase of Subsidiary net of cash

442

(336,597

)

Sale of Subsidiary net of cash

(279,995

)

-

Interest received

65,893

65,634

Net cash from investing activities

(533,681

)

(4,608,620

)

Cash flows from financing activities

New loans in year

-

2,274,909

Loan repayments in year

(247,865

)

(298,363

)

Amounts borrowed from group parent

-

2,241,121

Group parent loan repayments in year

(381,620

)

-

Amount introduced by directors

-

71,242

Amount withdrawn by directors

-

(21,229

)

Equity dividends paid

-

(500,134

)

Net cash from financing activities

(629,485

)

3,767,546

Decrease in cash and cash equivalents

(1,091,469

)

(4,559,822

)

Cash and cash equivalents at beginning of year

2

1,883,290

6,443,112

Cash and cash equivalents at end of year

2

791,821

1,883,290