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Registered number: NI027882
Erne Leisure Development Company Limited
Financial Statements
For The Year Ended 31 October 2025
McCleary & Company Ltd.
Erne Leisure Development Company Limited
Contents
Contents

| Page
--- | ---
Company Information | 1
Balance Sheet | 2—3
Notes to the Financial Statements | 4—8

Page 1
Erne Leisure Development Company Limited
Company Information
For The Year Ended 31 October 2025
Company Information

Directors | Mr Jerome Faucheur De Battisti
| Mr Andrew David McBride
Secretary | Mr Andrew David McBride
Company Number | NI027882
Registered Office | Quaker Buildings
| High Street
| Lurgan
| Craigavon
| BT66 8BB
Business | Unit 1, First Floor
| 3 Fairgreen Road
| Markethill
| Co. Armagh
| BT60 1PW
Auditors | McCleary & Company Ltd
| Chartered Accountants and Registered Auditors
| Quaker Buildings
| High Street, Lurgan
| Co. Armagh
| BT66 8BB
Bankers | Bank of Ireland
| 13 Market Street
| Lurgan
| Co. Armagh
| BT66 6AR

Page 1
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Erne Leisure Development Company Limited
Balance Sheet
As At 31 October 2025
Balance Sheet
Registered number: NI027882

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 943,200 |  | 968,797
|  |  | 943,200 |  | 968,797
CURRENT ASSETS
Stocks |  | 123,284 |  | 112,942 |
Debtors | 5 | 1,445,011 |  | 1,406,515 |
Cash at bank and in hand |  | 6,267 |  | 14,065 |
|  | 1,574,562 |  | 1,533,522 |
Creditors: Amounts Falling Due Within One Year | 6 | (114,856 ) |  | (87,134 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 1,459,706 |  | 1,446,388
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 2,402,906 |  | 2,415,185
Creditors: Amounts Falling Due After More Than One Year | 7 |  | (1,254,638 ) |  | (1,264,176 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (202,041 ) |  | (205,327 )
NET ASSETS |  |  | 946,227 |  | 945,682
CAPITAL AND RESERVES
Called up share capital | 9 |  | 100 |  | 100
Revaluation reserve | 11 |  | 21,194 |  | 23,796
Profit and Loss Account |  |  | 924,933 |  | 921,786
SHAREHOLDERS' FUNDS |  |  | 946,227 |  | 945,682

Page 2
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Erne Leisure Development Company Limited
Balance Sheet (continued)
As At 31 October 2025
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr Andrew David McBride Director
15 January 2026

The notes on pages 4 to 8 form part of these financial statements.
Page 3
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Erne Leisure Development Company Limited
Notes to the Financial Statements
For The Year Ended 31 October 2025
Notes to the Financial Statements
1. General Information
Erne Leisure Development Company Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI027882 . The registered office is Quaker Buildings, High Street, Lurgan, Craigavon, BT66 8BB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Land and buildings | - Straight line over the life of the lease
Plant and machinery etc | - 33% on cost, 20% on cost, 20% on reducing balance, 10% on reducing balance, 10% on cost, 4% on reducing balance and at varying rates on cost

2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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Erne Leisure Development Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2024: 7)
9 7
4. Tangible Assets

| Land & Property
--- | ---
| Leasehold | Plant & Machinery | Motor Vehicles | Cruiser Fleet
| £ | £ | £ | £
Cost
As at 1 November 2024 | 11,967 | 79,690 | 16,688 | 1,219,234
Additions | - | 15,470 | - | 27,381
Disposals | - | - | - | (44,698 )
As at 31 October 2025 | 11,967 | 95,160 | 16,688 | 1,201,917
Depreciation
As at 1 November 2024 | 10,887 | 60,588 | 16,250 | 299,871
Provided during the period | 359 | 6,710 | - | 26,735
Disposals | - | - | - | (15,664 )
As at 31 October 2025 | 11,246 | 67,298 | 16,250 | 310,942
Net Book Value
As at 31 October 2025 | 721 | 27,862 | 438 | 890,975
As at 1 November 2024 | 1,080 | 19,102 | 438 | 919,363

Page 5
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Erne Leisure Development Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025

| Office & Sundry Equipment | Total
--- | --- | ---
| £ | £
Cost
As at 1 November 2024 | 71,294 | 1,398,873
Additions | 435 | 43,286
Disposals | - | (44,698 )
As at 31 October 2025 | 71,729 | 1,397,461
Depreciation
As at 1 November 2024 | 42,480 | 430,076
Provided during the period | 6,045 | 39,849
Disposals | - | (15,664 )
As at 31 October 2025 | 48,525 | 454,261
Net Book Value
As at 31 October 2025 | 23,204 | 943,200
As at 1 November 2024 | 28,814 | 968,797

5. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 3,203 |  | 3,036
Amounts owed by group undertakings | 1,431,991 |  | 1,394,126
Other debtors | 9,817 |  | 9,353
| 1,445,011 |  | 1,406,515

6. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 32,610 |  | 30,088
Other creditors | 39,594 |  | 24,402
Taxation and social security | 42,652 |  | 32,644
| 114,856 |  | 87,134

7. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Amounts owed to group undertakings | 1,144,145 |  | 1,144,145
Other creditors | 110,493 |  | 120,031
| 1,254,638 |  | 1,264,176

Page 6
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Erne Leisure Development Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
8. Secured Creditors
The company's bank overdraft is secured by an unlimited composite guarantee from Erne Leisure Development Company Limited, Shannon Leisure Development Company Limited and Lakeview Marina Limited. The bank also has first fixed charge over boats and vessels.
9. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100 |  | 100

10. Other Commitments
At the year end the company had annual commitments under non-cancellable operating leases as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Later than one year and not later than five years | 16,020 |  | 16,020
| 16,020 |  | 16,020

11. Reserves

| Revaluation Reserve
--- | ---
| £
As at 1 November 2024 | 23,796
Transfer to profit and loss | (2,602 )
As at 31 October 2025 | 21,194

12. Related Party Transactions
Erne Leisure Development Company Limited ("ELDC"), Shannon Leisure Development Company Limited ("SLDC"), and Hausboot Irland GmbH ("HBI"), are all wholly owned subsidiaries of Lakeview Marina Limited ("LM").
Lakeview Marina Limited
The amount owed to LM at the year end was £1,144,145 (2024: £1,144,145). No interest was charged in the year.
Shannon Leisure Development Company Limited
ELDC charged SLDC £196,000 for services, and £19,022 for other sundry items supplied during the year. SLDC paid expenses of £13,848 on behalf of ELDC. At the year end the amount due from SLDC amounted to £1,431,991 (2024: £1,394,126).
The company is a wholly owned subsidiary of Lakeview Marina Limited, a company incorporated in the Republic of Ireland. Lakeview Marina Limited is a 100% owned subsidiary of Locaboat Developpement SAS, a company registered in France. The registered office address of Locaboat Developpement SAS is 60 rue Saint Andre des Arts, 75006 Paris.
The ultimate controlling party is Locaboat Group SAS, which owns 100% of Locaboat Developpement SAS and is deemed to have control. Locaboat Group SAS is registered in France. The registered office is at 60 rue Saint Andre des Arts, 75006 Paris.
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Erne Leisure Development Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
13. Audit Information
The auditor's report on the accounts of Erne Leisure Development Company Limited for the year ended 31 October 2025 was unqualified.
The auditor's report was signed by Ross McDonald (Senior Statutory Auditor) for and on behalf of McCleary & Company Ltd , Statutory Auditor.

McCleary & Company Ltd Chartered Accountants and Registered Auditors Quaker Buildings High Street, Lurgan Co. Armagh BT66 8BB

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