Erne Leisure Development Company Limited

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

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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

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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.

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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)

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

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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

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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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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