Company registration number 09361463 (England and Wales)
TYNE VALLEY LEISURE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
TYNE VALLEY LEISURE LIMITED
COMPANY INFORMATION
Directors
Mrs E Armstrong
Mr A J Bell
Mrs C J Vines
Company number
09361463
Registered office
Byermoor
Burnopfield
Newcastle
NE16 6NS
Auditor
Xeinadin Audit Limited
Trinity House
Thurston Road
Northallerton
North Yorkshire
DL6 2NA
Bankers
Lloyds Bank PLC
3 Wesley Court
Blaydon on Tyne
NE21 5BY
TYNE VALLEY LEISURE LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of income and retained earnings
7
Balance sheet
8
Statement of cash flows
9
Notes to the financial statements
10 - 21
TYNE VALLEY LEISURE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Review of the business

The company has had a steady trading year with sales remaining broadly stable at £26.1m compared to £26.3m in the previous year. Sales are driven by robust demand for vehicles, both new and used, and higher vehicle prices. The company has achieved a reasonable gross margin of 6.4% (2024 - 7.6%) despite the competitive marketplace.

Profit before tax generated of £0.3m is down from 2024 (£0.6m) due to the lower margin noted above.

Overall the company has maintained a stable net asset position at £3.9 m (2024 - £3.9m) and the directors are satisfied with the performance of the business in the year.

Principal risks and uncertainties

The key risk to the company is competition caused by an over supply of new motorhomes causing a forced marketplace and reduced margin. The company mitigates this risk by being proactive in managing the profile of motorhome stock to bolster its profitability.

As with any retail business a downturn in customer demand is a risk. The directors keep abreast of economic conditions to allow the business to make an effective response.

The company manages cash flow and liquidity risk through appropriate use of vehicle stocking loans and the exposure is considered low as vehicles are turned over reasonably quickly.

On behalf of the board

Mrs E Armstrong
Director
18 May 2026
TYNE VALLEY LEISURE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company is the sale and servicing of new and used motorhomes.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £313,556 (2024: £358,642). The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mrs E Armstrong
Mr A J Bell
Mrs C J Vines
Financial instruments

The company has a normal level of exposure to price, credit, interest rate and liquidity risks arising from trading activities. The company uses vehicle stocking loans to help manage cash flow and to mitigate liquidity risk but otherwise does not enter in to any other financial instruments to mitigate these risks.

The company is exposed to a very low level of foreign exchange risk as some trade creditors are denominated in foreign currencies. The company does not enter into any financial instruments to mitigate this risk.

Future developments

The directors are happy with the start to 2026 and are continuing to acquire and deliver high quality motorhomes.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mrs E Armstrong
Director
18 May 2026
TYNE VALLEY LEISURE LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

The directors are responsible for preparing the annual report 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; and

- 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.

TYNE VALLEY LEISURE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TYNE VALLEY LEISURE LIMITED
- 4 -
Opinion

We have audited the financial statements of Tyne Valley Leisure Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of income and retained earnings, the balance sheet, the statement of cash flows and notes to the financial statements, including 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 2025 and of its profit 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

TYNE VALLEY LEISURE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TYNE VALLEY LEISURE LIMITED (CONTINUED)
- 5 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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 directors' r esponsibilities s tatement, 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 is 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.

Auditor's 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 an auditor's 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 financial statements.

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement principal ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the motor vehicle industry;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, consumer finance, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

TYNE VALLEY LEISURE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TYNE VALLEY LEISURE LIMITED (CONTINUED)
- 6 -

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

- understanding the design of the company’s remuneration policies.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC and the company’s legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's 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.

Deborah Fletcher-McVay BSc FCA (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited, Statutory Auditor
Chartered Accountants
Trinity House
Thurston Road
Northallerton
North Yorkshire
DL6 2NA
1 June 2026
TYNE VALLEY LEISURE LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
26,071,487
26,335,770
Cost of sales
(24,394,211)
(24,322,556)
Gross profit
1,677,276
2,013,214
Administrative expenses
(1,395,384)
(1,429,416)
Operating profit
4
281,892
583,798
Interest receivable and similar income
7
38,691
28,940
Interest payable and similar expenses
8
-
0
(3,514)
Profit before taxation
320,583
609,224
Tax on profit
9
(92,144)
(180,645)
Profit for the financial year
228,439
428,579
Retained earnings brought forward
3,940,865
3,870,928
Dividends
10
(313,556)
(358,642)
Retained earnings carried forward
3,855,748
3,940,865

The profit and loss account has been prepared on the basis that all operations are continuing operations.

TYNE VALLEY LEISURE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
11
3,829
26,829
Tangible assets
12
974,510
901,704
978,339
928,533
Current assets
Stocks
13
5,123,932
7,881,882
Debtors
14
472,428
306,272
Cash at bank and in hand
1,453,023
363,783
7,049,383
8,551,937
Creditors: amounts falling due within one year
15
(4,150,417)
(5,519,880)
Net current assets
2,898,966
3,032,057
Total assets less current liabilities
3,877,305
3,960,590
Provisions for liabilities
Deferred tax liability
17
21,554
19,722
(21,554)
(19,722)
Net assets
3,855,751
3,940,868
Capital and reserves
Called up share capital
19
3
3
Profit and loss reserves
20
3,855,748
3,940,865
Total equity
3,855,751
3,940,868

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 26 May 2026 and are signed on its behalf by:
Mrs E Armstrong
Mr A J Bell
Director
Director
Company registration number 09361463 (England and Wales)
TYNE VALLEY LEISURE LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
2,394,010
296,415
Interest paid
-
0
(3,514)
Income taxes paid
(175,327)
(284,605)
Net cash inflow from operating activities
2,218,683
8,296
Investing activities
Purchase of tangible fixed assets
(182,336)
(257,409)
Proceeds from disposal of tangible fixed assets
-
0
8,000
Repayment of loans
(433,072)
(252,511)
Interest received
38,691
28,940
Net cash used in investing activities
(576,717)
(472,980)
Financing activities
Proceeds from borrowings
-
0
472,448
Repayment of borrowings
(472,448)
-
0
Dividends paid
(80,278)
-
0
Net cash (used in)/generated from financing activities
(552,726)
472,448
Net increase in cash and cash equivalents
1,089,240
7,764
Cash and cash equivalents at beginning of year
363,783
356,019
Cash and cash equivalents at end of year
1,453,023
363,783
TYNE VALLEY LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
1
Accounting policies
Company information

Tyne Valley Leisure Limited is a private company limited by shares incorporated in England and Wales. The registered office is Byermoor, Burnopfield, Newcastle, NE16 6NS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts and settlement discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover from services represents the value of work carried out during the year including amounts not yet invoiced, excluding value added tax.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line on buildings
Leasehold land and buildings
Over the remaining life of the lease
Plant and equipment
25% reducing balance or 4 years straight line
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance
TYNE VALLEY LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 11 -

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, subcontract labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

The cost of vehicle stock is calculated on a unit by unit basis.

Other stock is calculated on an average cost basis.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

TYNE VALLEY LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans are initially recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A mo unts payable are classified as current liabilities if payment is due within one year or less.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

TYNE VALLEY LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Stock impairment

As noted in note 1.7 Stock is held at the l ower of cost and estimated selling price less costs to complete and sell.

This requires the directors to estimate both future sales value and costs required to complete which are both judgemental.

At the year end the directors assessed the company's stock holding and estimated a provision of £50,000 (2024: £70,000) was required for slow moving stock.

TYNE VALLEY LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sale of goods
25,013,710
25,400,775
Sale of services
1,019,435
909,131
Commissions
38,342
25,864
26,071,487
26,335,770
2025
2024
£
£
Other revenue
Interest income
38,691
28,940
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
10,000
10,000
Depreciation of tangible fixed assets
109,530
96,691
Profit on disposal of tangible fixed assets
-
(362)
Amortisation of intangible assets
23,000
23,000
Impairment of stocks recognised or reversed
-
0
26,499
Operating lease charges
41,741
41,938
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Vehicle sales
5
6
Vehicle handling
10
9
Workshop
17
15
Directors
3
3
Administration
7
10
Total
42
43
TYNE VALLEY LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
5
Employees
(Continued)
- 15 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,205,123
1,156,225
Social security costs
129,132
110,306
Pension costs
31,997
28,073
1,366,252
1,294,604
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
77,714
87,727
Company pension contributions to defined contribution schemes
1,321
1,284
79,035
89,011

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 2).

7
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
38,691
28,940
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Other interest on financial liabilities
-
0
3,514
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
98,337
183,352
Adjustments in respect of prior periods
(8,024)
3,453
Total current tax
90,313
186,805
TYNE VALLEY LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
9
Taxation
2025
2024
£
£
(Continued)
- 16 -
Deferred tax
Origination and reversal of timing differences
1,831
(6,160)
Total tax charge
92,144
180,645

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
320,583
609,224
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
80,146
152,306
Tax effect of expenses that are not deductible in determining taxable profit
4,297
12,310
Depreciation on assets not qualifying for tax allowances
15,056
13,501
Under/(over) provided in prior years
(8,024)
2,528
Deferred tax adjustments in respect of prior years
669
-
0
Taxation charge for the year
92,144
180,645
10
Dividends
2025
2024
£
£
Interim paid
313,556
358,642
TYNE VALLEY LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
11
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2025 and 31 December 2025
230,000
Amortisation and impairment
At 1 January 2025
203,171
Amortisation charged for the year
23,000
At 31 December 2025
226,171
Carrying amount
At 31 December 2025
3,829
At 31 December 2024
26,829
12
Tangible fixed assets
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2025
-
0
1,122,846
263,987
2,990
91,870
1,481,693
Additions
76,374
61,404
12,865
-
0
31,693
182,336
At 31 December 2025
76,374
1,184,250
276,852
2,990
123,563
1,664,029
Depreciation and impairment
At 1 January 2025
-
0
320,507
202,190
2,164
55,128
579,989
Depreciation charged in the year
-
0
78,217
18,054
124
13,135
109,530
At 31 December 2025
-
0
398,724
220,244
2,288
68,263
689,519
Carrying amount
At 31 December 2025
76,374
785,526
56,608
702
55,300
974,510
At 31 December 2024
-
0
802,339
61,797
826
36,742
901,704
13
Stocks
2025
2024
£
£
Finished goods and goods for resale
5,123,932
7,881,882

Included within stock above is £3,250,209 (2024: £4,467,796) pledged as security against stocking loans.

All other stock is security under the debenture held by the company's bankers.

TYNE VALLEY LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
14
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
77,066
34,068
Other debtors
329,486
202,757
Prepayments and accrued income
65,876
69,447
472,428
306,272
15
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Other borrowings
16
3,581,023
4,797,024
Trade creditors
141,900
116,207
Corporation tax
98,337
183,352
Other taxation and social security
51,424
76,749
Other creditors
235,116
306,215
Accruals and deferred income
42,617
40,333
4,150,417
5,519,880
16
Loans and overdrafts
2025
2024
£
£
Other loans
3,581,023
4,797,024
Payable within one year
3,581,023
4,797,024

Other loans comprise stocking loans which are secured by a fixed charge over the assets to which they relate.

The company's banker has an unlimited debenture incorporating a fixed and floating charge over the company's assets.

17
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
21,554
19,722
TYNE VALLEY LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
17
Deferred taxation
(Continued)
- 19 -
2025
Movements in the year:
£
Liability at 1 January 2025
19,722
Charge to profit or loss
1,832
Liability at 31 December 2025
21,554

£17,233 (2024: £17,690) of t he deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
31,997
28,073

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

At the year end £5,589 (2024: £4,310) was owed to the pension scheme.

19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 1p each
332
332
3
3

The company has one class of ordinary shares which carry full voting rights, full rights to distributions and are non redeemable.

20
Profit and loss reserves

Includes all current and prior period retained profits and losses.

21
Operating lease commitments
As lessee

The company rents the premises from which it operates.

TYNE VALLEY LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
21
Operating lease commitments
(Continued)
- 20 -

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
41,245
35,000
Years 2-5
140,000
140,000
After 5 years
169,167
204,167
350,412
379,167
22
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Rent paid
2025
2024
£
£
Other related parties
35,000
35,000
2025
2024
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
-
0
46,285
Other related parties
1,864
1,864

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
45,536
-

All loans are unsecured, interest free and repayable on demand.

TYNE VALLEY LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
23
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Advances
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Director's Loan
3.75
151,089
211,093
7,519
(173,000)
196,701
Director's Loan
3.75
24,887
139,091
2,689
(80,278)
86,389
175,976
350,184
10,208
(253,278)
283,090

The loans are unsecured and repayable on demand.

The Directors have given personal guarantees for stocking loans with a carrying value of £1,172,958 (2024: £1,732,045 )

24
Cash generated from operations
2025
2024
£
£
Profit after taxation
228,439
428,579
Adjustments for:
Taxation charged
92,144
180,645
Finance costs
-
0
3,514
Investment income
(38,691)
(28,940)
Gain on disposal of tangible fixed assets
-
(362)
Amortisation and impairment of intangible assets
23,000
23,000
Depreciation and impairment of tangible fixed assets
109,530
96,691
Movements in working capital:
Decrease/(increase) in stocks
2,014,397
(514,924)
(Increase)/decrease in debtors
(12,647)
65,520
(Decrease)/increase in creditors
(22,162)
42,692
Cash generated from operations
2,394,010
296,415
25
Analysis of changes in net debt
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
363,783
1,089,240
1,453,023
Borrowings excluding overdrafts
(4,797,024)
1,216,001
(3,581,023)
(4,433,241)
2,305,241
(2,128,000)
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