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REGISTERED NUMBER: 03496955 (England and Wales)

Strategic Report, Directors' Report and

Financial Statements for the Year Ended 31 January 2026

for

J & J Wilson (Shops) Limited

J & J Wilson (Shops) Limited (Registered number: 03496955)

Contents of the Financial Statements

for the Year Ended 31 January 2026

Page |

Company Information | 1 |

Strategic Report | 2 |

Directors' Report | 4 |

Report of the Independent Auditors | 7 |

Statement of Income and Retained Earnings | 11 |

Balance Sheet | 12 |

Notes to the Financial Statements | 13 |

J & J Wilson (Shops) Limited

Company Information

for the Year Ended 31 January 2026

| Directors: | Mrs V M Johnstone

| Mr S Lloyd

| Mrs D K Lloyd

| Mr D Lloyd

| Secretary: | Mrs S Smith

| Registered office: | Driftwood Lodge

| 36A Old Hunstanton Road

| Hunstanton

| Norfolk

| PE36 6HS

| Registered number: | 03496955 (England and Wales)

| Auditors: | Stephenson Smart (East Anglia) Limited

| Chartered Accountants & Statutory Auditors

| 22-26 King Street

| King's Lynn

| Norfolk

| PE30 1HJ

| Bankers: | Santander

| Bridle Road

| Bootle

| Merseyside

| L30 4GB

J & J Wilson (Shops) Limited (Registered number: 03496955)

Strategic Report

for the Year Ended 31 January 2026

The directors present their strategic report for the year ended 31 January 2026.

Principal activities

The principal activity of the company during the year was in the management of concessionary outlets at holiday parks.

Review of business

The directors consider the profit achieved on ordinary activities before taxation and the state of the company's affairs to be above satisfactory.

Turnover has increased by £838,637 (2.52%), which is believed to be as a result of good weather over the whole summer. Turnover variances are a product of site popularity, which in turn relies on the attractiveness of the area to tourist both from the UK and abroad, which can vary considerably annually. Inflationary increases have impacted turnover during the year, as they have across the retail sector as a whole. Turnover growth on a shop by shop basis varies.

Margins remain fairly constant, with total cost of sales increasing by 2.46%, with gross profit percentage increasing slightly. Gross profit rose to 12.64% from 12.59% in the prior year. Staff costs have increased during the year due to increases in the national minimum wage. However, management continue to control costs as far as possible and gross profit percentage has remained reasonable given the economic environment.

In conclusion, a good year aided by the effects weather has had on sales growth, and strong cost controls illustrating managements continued support to grow and improve the company's performance whilst maintaining affordability and service to customers.

The results of the company for the year are set out in the profit and loss account on page 11 of the financial statements. The company balance sheet remains strong with shareholders' funds exceeding £6.1 million.

Principal risks and uncertainties

An outline of risks facing the company is considered in the directors report. In common with other businesses in this sector, the most significant risks and uncertainties faced by the company include margins and profitability. The popularity of the UK holiday market as a whole remains a risk also. The directors believe the company has sufficient strength, with a strong balance sheet, to be able to continue to trade successfully in future years.

Key performance indicators

The company uses a range of performance measures to monitor and manage the business effectively. The key financial performance indicators and their comparatives are as follows:

| 31.1.26 |  |  | 31.1.25 |  |

Gross profit margin |  | 12.64% |  |  | 12.59% |  |

Net operating margin |  | 3.68% |  |  | 2.45% |  |

EBITDA |  | £1,431,199 |  |  | £878,508 |  |

The directors consider turnover and gross profit margin to be the key performance indicators of the business. Gross profit and net operating margins are closely monitored internally not only across the company but on an outlet by outlet basis also to ensure performance is maximised.

J & J Wilson (Shops) Limited (Registered number: 03496955)

Strategic Report

for the Year Ended 31 January 2026

Future developments

Details of future developments can be found within the Directors' Report.

On behalf of the board:

Mr S Lloyd - Director

22 May 2026

J & J Wilson (Shops) Limited (Registered number: 03496955)

Directors' Report

for the Year Ended 31 January 2026

The directors present their report with the financial statements of the company for the year ended 31 January 2026.

Principal activity

The principal activity of the company in the year under review was that of management of concessionary outlets at holiday parks.

Dividends

The total distribution of dividends for the year ended 31 January 2026 will be £ 502,502 .

Future developments

The company is looking to maintain the growth on sales during the coming year. The directors are continually assessing new sites for potential expansion into new areas to build on the growth of the company over the last few years.

Results

The profit for the year, after taxation, amounted to £948,950 (2025 - £601,232).

Directors

The directors shown below have held office during the whole of the period from 1 February 2025 to the date of this report.

Mrs V M Johnstone

Mr S Lloyd

Mrs D K Lloyd

Mr D Lloyd

Other changes in directors holding office are as follows:

Mr G Johnstone - resigned 23 July 2025

J & J Wilson (Shops) Limited (Registered number: 03496955)

Directors' Report

for the Year Ended 31 January 2026

Financial instruments and financial risk management

The company uses various financial instruments including loans and cash, and items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations. The company does not usually use derivative financial instruments to hedge risk as they are not deemed to be significant.

The existence of these financial instruments exposes the company to a number of financial risks, which are described in more detail below. The main risks arising from the company's financial instruments are liquidity risk and interest rate risk. The directors review and agree policies for managing each of these risks and they are summarised below. These policies have remained unchanged from previous years.

Liquidity risk

The company manages it liquidity risk via short term borrowings which are utilised to meet day to day obligations as and when required. In recent years cash flow has been strong and therefore borrowings have been minimal. Due to the seasonal nature of the industry cash flows vary greatly through out the year. As the directors have little control over the flow of incoming cash flows, outgoings are carefully monitored. In addition to this, inter-group lending of cash takes places to minimise the interest costs of short term bank borrowings and to ensure that the company has sufficient liquid resources to meet its operating needs.

Interest rate risk

The company is exposed to cash flow interest rate risk on overdrafts which will fluctuate based upon the banks base rate. The directors review interest rates at regular intervals to ensure that interest rates being paid are reasonable in the context of the market. Interest income is not material to the business and therefore poses no risks.

Credit risk

The company is exposed to minimal credit risk as it is common place within the industry that customers are not provided with credit terms. Any investments of cash surpluses are made through banks.

Engagement with employees

The company operates an equal opportunities employment policy and is opposed to all forms of discrimination. The selection processes are non-discriminatory and always seek to give full and fair consideration to those with disabilities for all vacancies, taking into account their aptitudes and skills.

In the event of employees becoming disabled, every effort is made to ensure their employment with the company continues and appropriate training arranged. So far as possible the company ensures that the training, career development and promotion of any disabled person is identical to that of a colleague who does not suffer from such a disability.

Regular meetings are held between local management and employees to allow a free flow of information and ideas. J & J Wilson (Shops) Limited coordinate an annual conference whereby all management staff from locations across the country have the opportunity to discuss the business and voice any opinions, along with receiving further training and industry updates.

Disclosure in the strategic report

In accordance with The Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013, the review of the development and performance of the business, including key performance indicators, is contained in the Strategic Report.

J & J Wilson (Shops) Limited (Registered number: 03496955)

Directors' Report

for the Year Ended 31 January 2026

Statement of directors' responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

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

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

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

On behalf of the board:

Mr S Lloyd - Director

22 May 2026

Report of the Independent Auditors to the Members of

J & J Wilson (Shops) Limited

Opinion

We have audited the financial statements of J & J Wilson (Shops) Limited (the 'company') for the year ended 31 January 2026 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 January 2026 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, 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.

Report of the Independent Auditors to the Members of

J & J Wilson (Shops) Limited

Opinions on other matters prescribed by the Companies Act 2006

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

- | the information given in the Strategic Report and the Directors' Report 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.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

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

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

Report of the Independent Auditors to the Members of

J & J Wilson (Shops) Limited

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, 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:

Discussions with and enquiries of management and those charged with governance were held with a view to identify those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the group and parent company.

The following laws and regulations were identified as being of significance to the entity:

- Those laws and regulations considered to have a direct effect on the financial statements include the UK financial reporting standards, Company Law, Taxation and Pension legislation and distributable profits legislation.

- Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the

business and therefore may have a material effect on the financial statements include but are not limited to; health and safety legislation; trade descriptions act and employment regulation.

Audit procedures undertaken in response to the potential risks relating to irregularities (which includes fraud and non-compliance with laws and regulations) comprised of: Inquiries of management and those charged with governance as to whether the group and parent company complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriate of journal entries; and the performance of of analytical review to identify unexpected movement in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the group and parent company's control and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than those irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements might not be detected, even though the audit has been planned and performed in accordance with the ISAs (UK).

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

Report of the Independent Auditors to the Members of

J & J Wilson (Shops) Limited

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.

Christopher Goad BFP FCA (Senior Statutory Auditor)

for and on behalf of Stephenson Smart (East Anglia) Limited

Chartered Accountants & Statutory Auditors

22-26 King Street

King's Lynn

Norfolk

PE30 1HJ

22 May 2026

J & J Wilson (Shops) Limited (Registered number: 03496955)

Statement of Income and Retained Earnings

for the Year Ended 31 January 2026

31.1.26 | 31.1.25 |

| Notes | £ | £

Turnover | 4 | 34,117,845 |  | 33,279,208 |  |

Cost of sales | (29,805,175 | ) | (29,088,706 | ) |

Gross profit | 4,312,670 |  | 4,190,502 |  |

Administrative expenses | (3,075,973 | ) | (3,503,185 | ) |

1,236,697 |  | 687,317 |  |

Other operating income | 5 | 20,097 |  | 33,092 |  |

Operating profit | 8 | 1,256,794 |  | 720,409 |  |

Interest receivable and similar income | 10 | 75,583 |  | 93,779 |  |

1,332,377 |  | 814,188 |  |

Interest payable and similar expenses | 11 | (47,304 | ) | - |  |

Profit before taxation | 1,285,073 |  | 814,188 |  |

Tax on profit | 12 | (336,123 | ) | (212,956 | ) |

Profit for the financial year | 948,950 |  | 601,232 |  |

Retained earnings at beginning of year | 5,717,671 |  | 5,601,148 |  |

Dividends | 13 | (502,502 | ) | (484,709 | ) |

Retained earnings at end of year | 6,164,119 |  | 5,717,671 |  |

J & J Wilson (Shops) Limited (Registered number: 03496955)

Balance Sheet

31 January 2026

31.1.26 | 31.1.25 |

| Notes | £ | £

Fixed assets

Intangible assets | 14 | - |  | - |  |

Tangible assets | 15 | 3,089,016 |  | 1,737,136 |  |

Investments | 16 | 44,270 |  | 44,270 |  |

3,133,286 |  | 1,781,406 |  |

Current assets

Stocks | 17 | 2,195,938 |  | 1,947,119 |  |

Debtors | 18 | 968,290 |  | 965,544 |  |

Cash at bank and in hand | 1,960,838 |  | 1,689,597 |  |

5,125,066 |  | 4,602,260 |  |

Creditors

Amounts falling due within one year | 19 | (714,636 | ) | (486,031 | ) |

Net current assets | 4,410,430 |  | 4,116,229 |  |

Total assets less current liabilities | 7,543,716 |  | 5,897,635 |  |

Creditors

Amounts falling due after more than one year | 20 | (1,180,967 | ) | - |  |

Provisions for liabilities | 24 | (198,600 | ) | (179,934 | ) |

Net assets | 6,164,149 |  | 5,717,701 |  |

Capital and reserves

Called up share capital | 25 | 30 |  | 30 |  |

Retained earnings | 26 | 6,164,119 |  | 5,717,671 |  |

Shareholders' funds | 6,164,149 |  | 5,717,701 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2026 and were signed on its behalf by:

Mr S Lloyd - Director

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements

for the Year Ended 31 January 2026

1. | Statutory information

| J & J Wilson (Shops) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | Statement of compliance

| 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.

3. | Accounting policies

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| These individual financial statements have been prepared on a going concern basis. All accounting policies have been applied consistently.

| The financial statements are prepared in sterling, which is the functional currency of the entity. Figures are rounded to the nearest whole pound sterling.

| Going concern

| The directors consider that the company has adequate resources to continue in operational existence for the foreseeable future and have therefore prepared these financial statements on a going concern basis.

| Liquid resources

| The company classifies liquid resources as debtors and cash at bank and in hand less creditors due within one year which it attempts to maintain at a level such that working capital can be used effectively.

| Financial Reporting Standard 102 - reduced disclosure exemptions

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

| • | the requirements of Section 7 Statement of Cash Flows;

| • | the requirement of paragraph 3.17(d);

| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirement of paragraph 33.7.

| The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of L & J Leisure Limited, which can be obtained from 4th Floor 115 George Street, Edinburgh, EH2 4JN.

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

3. | Accounting policies - continued

| Preparation of consolidated financial statements

| The financial statements contain information about J & J Wilson (Shops) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, L & J Leisure Limited, 4th Floor 115 George Street, Edinburgh, EH2 4JN.

| Critical accounting judgements and key sources of estimation uncertainty

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| (i) Useful economic lives of tangible assets

| The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancements, future investments, economic utilisation and the physical condition of the assets. See note 15 for the carrying amount of tangible assets and note 3 for the useful economic lives for each class of assets.

| (ii) Taxation

| The company establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with previous tax audits and differing interpretations of tax regulations by the taxable entity and the responsible tax authority. See note 24 for the disclosures relating to the deferred tax provision.

| (iii) Prepayments

| The company recognises prepayments in respect of expenditure incurred before the balance sheet date but which relates to future accounting periods. Prepayments are estimated by apportioning over the period to which the related goods or services are expected to be received. Judgement is also exercised over whether a prepayment provides a future economic benefit or should be immediately expensed. See note 18 for the disclosures relating to prepayments.

| (iiii) Accrued income

| The company recognises accrued income where income has been earned but not yet invoiced at the balance sheet date. This requires management to exercise judgement in determining the timing of revenue recognition, such as in advance of invoicing or regarding contractual terms. Estimation is also conducted on the valuation of income to be accrued where this is yet to be confirmed at the reporting date. In relation to the cash rebates due from suppliers for purchases made during the year, significant experience is utilised alongside purchasing figures and agreements to make an informed judgement. See note 18 for the disclosures relating to accrued income.

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

3. | Accounting policies - continued

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax.

| Turnover from shop sales is recognised at the point at which the goods are provided.

| Revenue from the sale of goods in the shops is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, which is at the point of sale, whereby the amount of revenue can be measured reliably, and it is probable that the associated economic benefits will flow to the entity, and the costs incurred in respect of the transactions can be measured reliably.

| Goodwill

| Goodwill is deemed to have a useful economic life of 4 years, and as such is amortised over this period.

| If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

| 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.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Freehold property | - | 2% on cost

| Long leasehold | - | 12-25 years straight line basis

| Fixtures and fittings | - | Straight line over 10 years

| Motor vehicles | - | 25% p.a. reducing balance

| Computer equipment | - | 3-10 years straight line basis

| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

| Other investments

| Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

| slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

3. | Accounting policies - continued

| Financial instruments

| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Debt instruments are subsequently measured at amortised cost.

| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

| For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

| Taxation

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

| Current or deferred taxation assets and liabilities are not discounted.

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

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

3. | Accounting policies - continued

| Deferred tax

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

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

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

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

| Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

| Operating lease income

| Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

| Pension costs and other post-retirement benefits

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

| Cash and cash equivalents

| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

4. | Turnover

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

31.1.26 | 31.1.25 |

| £ | £

| Sale of goods | 34,117,845 |  | 33,279,208 |  |

34,117,845 |  | 33,279,208 |  |

| An analysis of turnover by geographical market is given below:

31.1.26 | 31.1.25 |

| £ | £

| United Kingdom | 34,117,845 |  | 33,279,208 |  |

34,117,845 |  | 33,279,208 |  |

5. | Other operating income

31.1.26 | 31.1.25 |

| £ | £

| Rents received | 8,000 |  | 28,000 |  |

| Sundry receipts | 12,097 |  | 5,092 |  |

20,097 |  | 33,092 |  |

6. | Employees and directors

31.1.26 | 31.1.25 |

| £ | £

| Wages and salaries | 6,195,345 |  | 5,961,794 |  |

| Social security costs | 651,807 |  | 472,719 |  |

| Other pension costs | 307,220 |  | 164,866 |  |

7,154,372 |  | 6,599,379 |  |

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

31.1.26 | 31.1.25 |

| Management staff | 27 |  | 27 |  |

| Shop staff | 290 |  | 284 |  |

317 |  | 311 |  |

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

7. | Directors' emoluments

|  | 31.1.26 |  |  | 31.1.25 |

|  | £ |  |  | £ |

| Remuneration |  | 60,184 |  |  | 65,270 |

| Company contributions to pensions |  | 53,301 |  |  | 26,601 |

|  | 180,963 |  |  | 91,871 |

| The number of directors who accrued benefits under company pension plans totalled 1 (2025 - 2).

| The pension contributions paid to directors in excess of their entitlement during the year was £40,000 (2025 - £Nil).

8. | Operating profit

| The operating profit is stated after charging/(crediting):

31.1.26 | 31.1.25 |

| £ | £

| Hire of plant and machinery | 51,287 |  | 69,680 |  |

| Depreciation - owned assets | 175,423 |  | 158,099 |  |

| (Profit)/loss on disposal of fixed assets | (4,140 | ) | 11,397 |  |

| Depreciation of tangible fixed assets is included within administrative expenses.

9. | Auditors' remuneration

31.1.26 | 31.1.25 |

| £ | £

| Fees payable to the company's auditors for the audit of the company's financial statements | 12,000 |  | 10,000 |  |

10. | Interest receivable and similar income |

31.1.26 | 31.1.25 |

| £ | £

| Deposit account interest | 61,508 |  | 77,401 |  |

| Other interest receivable | 14,075 |  | 16,378 |  |

75,583 |  | 93,779 |  |

| Interest receivable is derived from financial assets measured at amortised cost.

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

11. | Interest payable and similar expenses |

31.1.26 | 31.1.25 |

| £ | £

| Bank loan interest | 47,304 |  | - |  |

| Interest payable is derived from financial liabilities measured at amortised cost.

12. | Taxation

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

31.1.26 | 31.1.25 |

| £ | £

| Current tax:

| UK corporation tax | 317,457 |  | 223,104 |  |

| Deferred tax | 18,666 |  | (10,148 | ) |

| Tax on profit | 336,123 |  | 212,956 |  |

| Reconciliation of total tax charge included in profit and loss

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

31.1.26 | 31.1.25 |

| £ | £

| Profit before tax | 1,285,073 |  | 814,188 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%) | 321,268 |  | 203,547 |  |

| Effects of:

| Expenses not deductible for tax purposes | 3,472 |  | 2,687 |  |

| Depreciation in excess of capital allowances | 12,196 |  | 7,535 |  |

| Lease premium allowance | (813 | ) | (813 | ) |

| Brooke |

| Total tax charge | 336,123 |  | 212,956 |  |

| Factors that may affect future tax expense

| The Finance Bill 2021, published on 11 March 2021, announced that from 1 April 2023, the Corporation Tax main rate for non-ring fenced profits will be increased to 25%, applying to profits over £250,000. Deferred taxes at the balance sheet date have been calculated at 25% due to the new rates having enacted.

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

13. | Dividends

31.1.26 | 31.1.25 |

| £ | £

| Final | 502,502 |  | 484,709 |  |

14. | Intangible fixed assets

Goodwill |

| £

| Cost

| At 1 February 2025

| and 31 January 2026 | 53,713 |  |

| Amortisation

| At 1 February 2025

| and 31 January 2026 | 53,713 |  |

| Net book value

| At 31 January 2026 | - |  |

| At 31 January 2025 | - |  |

15. | Tangible fixed assets

Fixtures |

Freehold | Long | and |

property | leasehold | fittings |

| £ | £ | £

| Cost

| At 1 February 2025 | 1,428,731 |  | 57,528 |  | 1,125,762 |  |

| Additions | 1,324,684 |  | - |  | 217,231 |  |

| Disposals | - |  | - |  | (125,435 | ) |

| At 31 January 2026 | 2,753,415 |  | 57,528 |  | 1,217,558 |  |

| Depreciation

| At 1 February 2025 | 264,986 |  | 40,749 |  | 670,820 |  |

| Charge for year | 46,045 |  | 4,794 |  | 91,609 |  |

| Eliminated on disposal | - |  | - |  | (102,075 | ) |

| At 31 January 2026 | 311,031 |  | 45,543 |  | 660,354 |  |

| Net book value

| At 31 January 2026 | 2,442,384 |  | 11,985 |  | 557,204 |  |

| At 31 January 2025 | 1,163,745 |  | 16,779 |  | 454,942 |  |

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

15. | Tangible fixed assets - continued

Motor | Computer |

vehicles | equipment | Totals |

| £ | £ | £

| Cost

| At 1 February 2025 | 118,999 |  | 112,569 |  | 2,843,589 |  |

| Additions | - |  | 8,748 |  | 1,550,663 |  |

| Disposals | - |  | - |  | (125,435 | ) |

| At 31 January 2026 | 118,999 |  | 121,317 |  | 4,268,817 |  |

| Depreciation

| At 1 February 2025 | 66,466 |  | 63,432 |  | 1,106,453 |  |

| Charge for year | 13,133 |  | 19,842 |  | 175,423 |  |

| Eliminated on disposal | - |  | - |  | (102,075 | ) |

| At 31 January 2026 | 79,599 |  | 83,274 |  | 1,179,801 |  |

| Net book value

| At 31 January 2026 | 39,400 |  | 38,043 |  | 3,089,016 |  |

| At 31 January 2025 | 52,533 |  | 49,137 |  | 1,737,136 |  |

| The carrying value of the properties over which security has been pledged is £1,441,753 (2025 - £Nil). Details over secured assets can be found in note 23. The carrying value of the properties to which the entity has restricted title is £1,441,753 (2025 - £Nil).

| The carrying value of the properties over which security has been pledged, on behalf of the parent entity, L & J Leisure Limited, is £2,442,385 (2025 - £1,163,745). Details over secured assets can be found in note 28.

16. | Fixed asset investments

Interest in |

Shares in | other |

group | participating |

undertakings | interests | Totals |

| £ | £ | £

| Cost

| At 1 February 2025

| and 31 January 2026 | 850,000 |  | 4,000 |  | 854,000 |  |

| Provisions

| At 1 February 2025

| and 31 January 2026 | 809,730 |  | - |  | 809,730 |  |

| Net book value

| At 31 January 2026 | 40,270 |  | 4,000 |  | 44,270 |  |

| At 31 January 2025 | 40,270 |  | 4,000 |  | 44,270 |  |

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

16. | Fixed asset investments - continued

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| The Golden Lion (Hunstanton) Limited

| Registered office: Driftwood Lodge 36a Old Hunstanton Road, Old Hunstanton, Hunstanton, England, PE36 6HS

| Nature of business: Hotels and similar accommodation

% |

| Class of shares: | holding |

| Ordinary £1 | 100.00 |

17. | Stocks

31.1.26 | 31.1.25 |

| £ | £

| Finished goods | 2,195,938 |  | 1,947,119 |  |

| Stocks are stated after provisions for impairment of £16,400 (2025 - £16,600).

18. | Debtors: amounts falling due within one year |

31.1.26 | 31.1.25 |

| £ | £

| Trade debtors | 597,480 |  | 633,395 |  |

| Amounts owed by group undertakings | 59,500 |  | - |  |

| Other debtors | 25,587 |  | 21,046 |  |

| Directors' current accounts | 55,300 |  | - |  |

| Tax | - |  | 107,027 |  |

| Prepayments and accrued income | 230,423 |  | 204,076 |  |

968,290 |  | 965,544 |  |

| Trade debtors are stated after provisions for impairment of £Nil (2025 - £Nil).

| Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

19. | Creditors: amounts falling due within one year |

31.1.26 | 31.1.25 |

| £ | £

| Bank loans and overdrafts (see note 21) | 37,209 |  | - |  |

| Trade creditors | 131,584 |  | 106,956 |  |

| Amounts owed to group undertakings | 3,481 |  | 78,874 |  |

| Tax | 221,121 |  | - |  |

| Social security and other taxes | 50,536 |  | 39,035 |  |

| VAT | 125,275 |  | 130,232 |  |

| Other creditors | 113,852 |  | 118,054 |  |

| Directors' current accounts | 12,142 |  | 12,880 |  |

| Accrued expenses | 19,436 |  | - |  |

714,636 |  | 486,031 |  |

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

19. | Creditors: amounts falling due within one year - continued

| The aggregate liability included within creditors under one year over which security is held is £37,209 (2025 - £Nil). Details over secured assets can be found in note 23.

| Of the aggregate liability £37,209 (2025 - £Nil) is subject to a variable rate of interest of 1.65% over the Bank of England Base Rate. As at the balance sheet date the Bank of England Base Rate stood at 3.75% (2024 - N/A).

| Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

20. | Creditors: amounts falling due after more than one year |

31.1.26 | 31.1.25 |

| £ | £

| Bank loans (see note 21) | 1,180,967 |  | - |  |

| The aggregate liability included within creditors over one year over which security is held is £1,180,967 (2025 - £Nil). Details over secured assets can be found in note 23.

| Of the aggregate liability £1,180,967 (2025 - £Nil) is subject to a variable rate of interest of 1.65% over the Bank of England Base Rate. As at the balance sheet date the Bank of England Base Rate stood at 3.75% (2024 - N/A).

21. | Loans

| An analysis of the maturity of loans is given below:

31.1.26 | 31.1.25 |

| £ | £

| Amounts falling due within one year or on demand:

| Bank loans | 37,209 |  | - |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | 170,607 |  | - |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 1,010,360 |  | - |  |

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

22. | Leasing agreements

| Minimum lease payments under non-cancellable operating leases fall due as follows:

31.1.26 | 31.1.25 |

| £ | £

| Within one year | 137,980 |  | 121,077 |  |

| Between one and five years | 158,189 |  | 186,716 |  |

296,169 |  | 307,793 |  |

| As lessor

| The total future minimum lease payments receivable under non-cancellable operating leases are

| as follows:

|  | 31.1.26 |  |  | 31.1.2 5 |  |

|  | £ |  |  | £ |  |

| Within one year |  | 8,000 |  |  | 8,000 |  |

| Between one and five years |  | - |  |  | - |  |

|  | 8,000 |  |  | 8,000 |  |

23. | Secured debts

| The following secured debts are included within creditors:

31.1.26 | 31.1.25 |

| £ | £

| Bank loans | 1,218,176 |  | - |  |

| Bank loans are secured by way of a legal charge over the freehold properties known as Units 1-7 South Promenade and Car Park, Hunstanton, Norfolk and The Pavillion, 17 The Green, Hunstanton, Norfolk. A restricted title has also been placed over these properties. The carrying value of said properties is disclosed within note 15.

24. | Provisions for liabilities

31.1.26 | 31.1.25 |

| £ | £

| Deferred tax

| Accelerated capital allowances | 147,331 |  | 128,665 |  |

| Other timing differences | 51,269 |  | 51,269 |  |

198,600 |  | 179,934 |  |

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

24. | Provisions for liabilities - continued

Deferred tax |

| £

| Balance at 1 February 2025 | 179,934 |  |

| Provided during year | 18,666 |  |

| Balance at 31 January 2026 | 198,600 |  |

| Deferred tax has been calculated at 25% (2025 - 25%), the future rate of taxation.

25. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.1.26 | 31.1.25 |

value: |  | £ | £

| 30 | Ordinary | £1 | 30 |  | 30 |  |

| There is a single class of ordinary share. There are no restrictions on the distributions of dividends and the repayment of capital.

26. | Reserves

Retained |

earnings |

| £

| At 1 February 2025 | 5,717,671 |  |

| Profit for the year | 948,950 |  |

| Dividends | (502,502 | ) |

| At 31 January 2026 | 6,164,119 |  |

| Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

27. | Pension commitments

| The amount recognised in profit or loss as an expense in relation to defined contribution plans was £307,220 (2025 - £164,866).

| As at the balance sheet date there were outstanding contributions of £4,185 (2025 - £3,783).

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

28. | Other financial commitments

| A loan held by L&J Leisure Limited, the immediate parent entity, is secured by way of a floating charge over all properties, undertakings, assets (including uncalled capital) and rights owned. This charge encompasses J & J Wilson (Shops) Limited.

| Amounts outstanding as at the balance sheet date total £1,044,939 (2025 - £1,235,891).

| A loan held by L&J Leisure Limited, the immediate parent entity, is secured by way of a floating charge over all properties, undertakings, assets (including uncalled capital) and rights owned by J & J Wilson (Shops) Limited, and its 100% owned subsidiary The Golden Lion (Hunstanton) Limited.

| Amounts outstanding as at the balance sheet date total £1,040,612 (2025 - £1,132,750).

29. | Directors' advances, credits and guarantees

| As at the balance sheet date £55,300 (2025 - £49 owed by the company) was due to the company by a director. During the year there were net transactions with the director of £55,349 (2025 - £1,133). All loans made to directors are subject to interest at 3.75%, repayable on demand, are not secured, and will be repaid in full during the coming year.

30. | Related party disclosures

| As at the balance sheet date, the company owed three directors £12,142 (2025 - £6,864), after transactions with a net value of £2,825 (2025 - £6,092).

| All loans made by directors are interest free, are repayable on demand and are not secured.

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

| Key management personnel include all persons that have authority and responsibility for planning, directing

| and controlling the activities of the company. The total compensation paid to key management personnel, who are not directors disclosed elsewhere, for services provided to the group was £67,479 (2025 - £Nil). The company has taken advantage of the exemption to not provide aggregate remuneration of key management personnel, given that it is a qualifying entity.

| Total compensation paid to related parties, not elsewhere disclosed, equates to £73,335 (2025 - £65,848). Within other debtors are loans to related parties of £6,923 (2025 - £18,405). The loans are interest free, repayable on demand and are not secured. One, previously a director, in the previous as at the balance sheet date the company owed £3,514, after transactions with a net value of £2,848.

J & J Wilson (Shops) Limited (Registered number: 03496955)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

31. | Ultimate controlling party

| The company's immediate parent company is L & J Leisure Limited, a company incorporated in Scotland. The registered office of L & J Leisure Limited is 4th Floor, 115 George Street, Edinburgh, EH2 4JN.

| The ultimate parent undertaking and the smallest and largest group to consolidate the financial statements is L & J Leisure Limited. The registered office of L & J Leisure Limited is 4th Floor, 115 George Street, Edinburgh, EH2 4JN.

| Within the parent entity, all classes of shares hold equal voting rights, and no individual shareholder or shareholders acting in concert hold a majority. Therefore, the directors consider that there is no ultimate controlling party of the company.