Year Ended
Registration number:
3T's Leisure Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
3T's Leisure Limited
Company Information
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Directors |
Mr D B Milsom Mr A R Lerwill Mr M J Taylor |
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Company secretary |
Mr J Taylor |
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Registered office |
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Auditors |
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3T's Leisure Limited
Strategic Report for the Year Ended 31 October 2025
The directors present their strategic report for the year ended 31 October 2025.
Principal activity
The principal activity of the company is that of retailing and refurbishing caravans and operating caravan parks.
Fair review of the business
The 2025 trading year presented a blend of challenges and opportunities for the business, shaped by broader economic pressures and shifting consumer behaviours. Despite ongoing headwinds, including sustained high interest rates that continued to dampen retail spending, the business demonstrated strong resilience and operational adaptability. Holiday parks across the UK reported increases in customer traffic, driven largely by increased domestic travel preferences compared with overseas holidays. Although the late timing of the national budget temporarily disrupted early‑season activity, market conditions have gradually shown signs of recovery with emerging indicators of slow but steady growth.
Growth in the domestic letting market continues to drive operators to expand and modernize their fleets to improve returns from short breaks, holiday stays, and on‑park ancillary revenue. Demand remains resilient, particularly within the 55–75 demographic, which has been comparatively insulated from inflationary and interest‑rate pressures. Ongoing global uncertainty and inconsistent overseas travel conditions have further strengthened the UK’s position as a reliable, year‑round holiday destination.
Late‑season softness resulted in a manageable level of stock carryover, with some units sold at reduced margins and higher interest costs on excess stock, impacting overall profitability. These effects have now largely been absorbed. We expect stock levels to normalize in the coming months, supporting a stable and more strategically balanced outlook for the forthcoming season.
The used caravan market remains highly competitive, driven by reduced stock availability as parks increasingly retain pre‑owned units either for resale or for conversion into flexible fleet inventory. Rising refurbishment costs have increased overheads; however, the business has succeeded in maintaining margins. Looking ahead, similar sales volumes are anticipated. While market competition may require selective pricing adjustments, demand remains strong among loyal, value‑focused customer groups.
Advance bookings for the upcoming season are trending ahead of last year, with peak dates demonstrating strong performance. Pricing flexibility remains essential for sustaining competitiveness. The company continues its selective fleet strategy, investing in parks showing growth potential while reducing units in other areas to stimulate retail sales. Demand remains strong in the premium accommodation segment, including lodges, cottages, bungalows, and apartments.
Recruitment of high quality staff remains challenging across the sector, however the company continues prioritising the hiring and training of staff. Investment in capability‑building remains central to the business’s ability to sustain growth, service excellence, and future market share expansion.
Despite obstacles faced during the year, the business continues to demonstrate resilience. Signs of economic stabilisation in the UK support a cautiously optimistic outlook. Focus on operational excellence, customer value, and strategic investment positions the business for sustainable growth in the evolving market landscape.
3T's Leisure Limited
Strategic Report for the Year Ended 31 October 2025
Our strategy for the caravan hire fleet remains selective. We are investing in upgrades at parks showing growth potential while reducing fleet units in other locations to boost retail sales. The demand for high-end holiday experiences remains high, particularly in the premium sector, apartments, bungalows, cottages, and lodges, which validates our ongoing investment in both existing properties and future acquisitions where viable.
Recruiting skilled staff continues to be a challenge across the industry. However, we firmly believe that investing time in hiring the right people and providing quality training is essential for sustained business growth. Attracting and retaining the best talent remains a top priority as we continue to expand our market share and maintain high service standards.
Despite the many obstacles faced over the past year, we are encouraged by the resilience of our business and the industry as a whole. While global uncertainties persist, we are optimistic that the UK’s economic turbulence is easing, allowing for a more stable and predictable trading environment.
The balance sheet remains strong, and the Directors consider that the results are encouraging considering what has been another challenging year whilst there are still conflicts around the world and with the UK’s economic turbulence. we are gradually settling back to pre-pandemic trading, and we remain confident that our balance sheet for this year will continue to be positive.
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Sales |
£m |
26 |
25 |
|
Gross profit margin |
% |
18 |
20 |
|
Profit before tax |
£m |
- |
1 |
|
Net profit margin |
% |
- |
2 |
Principal risks and uncertainties
Below are the principal risks that could impact the groups business model and future performance.
The directors are aware that the principal risks to the company relate to the wider economic uncertainties and may influence the demand for products and holidays.
Multiple interest rate rises and inclement weather can play a substantial role in depressing the market and inefficient production in the manufacturing process could have an impact on our product supply.
Inefficient production in the manufacturing process could have an impact on our product supply. However, over production of the product in the industry can have an equally damaging effect, leading to discounting of the stock and a reduction of our margins.
Approved and authorised by the
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3T's Leisure Limited
Directors' Report for the Year Ended 31 October 2025
The directors present their report and the financial statements for the year ended 31 October 2025.
Directors of the company
The directors who held office during the year were as follows:
Financial risk management objectives and policies
The main risks facing the company are set out below:
Price risk, credit risk, liquidity risk and cash flow risk
The company considers the major financial risks of the business to be linked to liquidity, cash flow and cyclical changes in the economy. The company mitigates these risks by carefully managing cash, stock and debt levels through forecasting and budgeting. The company also maintains close contact with its bank keeping them informed of developments and changes within the business. The experience of management enables the company to respond to changes in the economy and to adapt the company's strategy accordingly.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved and authorised by the
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3T's Leisure Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities 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:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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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.
3T's Leisure Limited
Independent Auditor's Report to the Members of 3T's Leisure Limited
Opinion
We have audited the financial statements of 3T's Leisure Limited (the 'company') for the year ended 31 October 2025, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, 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 October 2025 and of its loss for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor 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 director's 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 original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
3T's Leisure Limited
Independent Auditor's Report to the Members of 3T's Leisure Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and 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 our 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 and 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 5, 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.
3T's Leisure Limited
Independent Auditor's Report to the Members of 3T's Leisure Limited
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.
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:
As part of our audit planning we obtained an understanding of the legal and regulatory framework that is applicable to the company. We gained an understanding of the company and the industry in which the company operates as part of this assessment to identify the key laws and regulations affecting the company.
We identified the principal risks of non-compliance with laws and regulations as relating to the laws and regulations that have a direct impact on the preparation of the financial statements, including, but not limited to the reporting framework (FRS 102 and Companies Act 2006) and the relevant tax compliance regulations in the UK. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements including the risk of override of controls, and determined that the principal risks were related to fraudulent financial reporting.
We discussed with management how the compliance with these laws and regulations is monitored and obtained copies of the key policies and procedures in place. We also identified the individuals who have responsibility for ensuring that the company complies with laws and regulations and deals with reporting any issues if they arise. As part of our planning procedures, we assessed the risk of any non compliance with laws and regulations on the company’s ability to continue trading and the risk of material misstatement to the accounts.
We also addressed the risk of management override of internal controls, including testing of journals and evaluating whether there was evidence of bias by the Directors that represented a risk of material misstatement due to fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate omissions, collusion, forgery, misrepresentations, or the override of internal controls. We are also less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
3T's Leisure Limited
Independent Auditor's Report to the Members of 3T's Leisure Limited
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.
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Melville Building East
Unit 18, 23 Royal William Yard
Devon
PL1 3GW
3T's Leisure Limited
Profit and Loss Account
Year Ended 31 October 2025
|
Note |
2025 |
2024 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating profit |
756,492 |
1,230,829 |
|
|
Other interest receivable and similar income |
- |
|
|
|
Interest payable and similar expenses |
( |
( |
|
|
(665,936) |
(535,652) |
||
|
Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
(Loss)/profit for the financial year |
( |
|
The above results were derived from continuing operations.
3T's Leisure Limited
Statement of Comprehensive Income
Year Ended 31 October 2025
|
2025 |
2024 |
|
|
(Loss)/profit for the year |
( |
|
|
Deferred tax movement on revalued fixed assets |
|
|
|
Total comprehensive income for the year |
( |
|
3T's Leisure Limited
Balance Sheet
31 October 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Intangible assets |
|
50,090 |
|
|
Tangible assets |
|
20,014,048 |
|
|
|
20,064,138 |
||
|
Current assets |
|||
|
Stocks |
|
10,902,891 |
|
|
Debtors |
|
7,604,180 |
|
|
Cash at bank and in hand |
|
103,866 |
|
|
|
18,610,937 |
||
|
Creditors: Amounts falling due within one year |
( |
(15,417,717) |
|
|
Net current assets |
|
3,193,220 |
|
|
Total assets less current liabilities |
|
23,257,358 |
|
|
Creditors: Amounts falling due after more than one year |
( |
(2,062,138) |
|
|
Provisions for liabilities |
( |
(1,244,709) |
|
|
Net assets |
|
19,950,511 |
|
|
Capital and reserves |
|||
|
Called up share capital |
|
10,000 |
|
|
Revaluation reserve |
|
4,450,470 |
|
|
Other reserves |
|
1,419,449 |
|
|
Profit and loss account |
|
14,070,592 |
|
|
Total equity |
|
19,950,511 |
Approved and authorised by the
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Company Registration Number: 03311570
3T's Leisure Limited
Statement of Changes in Equity
Year Ended 31 October 2025
|
Share capital |
Revaluation reserve |
Other reserves |
Profit and loss account |
Total |
|
|
At 1 November 2024 |
|
|
|
|
|
|
Loss for the year |
- |
- |
- |
( |
( |
|
Other comprehensive income |
- |
|
- |
- |
|
|
Total comprehensive income |
- |
|
- |
( |
( |
|
Dividends |
- |
- |
- |
( |
( |
|
Transfers |
- |
(97,512) |
- |
97,512 |
- |
|
At 31 October 2025 |
|
|
|
|
|
|
Share capital |
Revaluation reserve |
Other reserves |
Profit and loss account |
Total |
|
|
At 1 November 2023 |
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
|
Other comprehensive income |
- |
|
- |
- |
|
|
Total comprehensive income |
- |
|
- |
|
|
|
Dividends |
- |
- |
- |
( |
( |
|
Transfers |
- |
(97,512) |
- |
97,512 |
- |
|
At 31 October 2024 |
10,000 |
4,450,470 |
1,419,449 |
14,070,592 |
19,950,511 |
3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Summary of disclosure exemptions
FRS 102 grants a qualifying entity exemptions from the full requirements of FRS 102. The following exemptions have been taken in these financial statements as the company is deemed to be a qualifying entity.
The company has taken advantage of the exemption, under FRS 102 paragraph 1.12(b), from preparing a Statement of Cash Flows on the basis that it is a qualifying entity and its ultimate parent company, SBL Parks & Leisure Holdings Limited, includes the company’s cash flows in its own consolidated financial statements. The company is also taking exemption from disclosure of key management personnel compensation and exemption from disclosure of related party transactions entered into between the company and SBL Parks & Leisure Holdings Limited.
3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
Judgements
The company obtains periodic independent valuations of its freehold property and caravan fleet asset classes to ensure that carrying value in the financial statements does not differ materially from fair value. The directors have judged that based on the latest valuation obtained the fair value of freehold property and the caravan fleet considered individually does not differ materially from the carrying value of these assets at year end. |
Key sources of estimation uncertainty
The directors estimate the recovery of all amounts included in trade debtors and provide for a bad debt provision. This estimate is subject to increased uncertainty due to the long credit terms offered to customers. As at the year end the company has estimated that the potential bad debt provision is immaterial to the accounts.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Freehold land and buildings are stated in the balance sheet at valuation. An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.
3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Land |
Not depreciated |
|
Freehold and long leasehold buildings |
2% straight line |
|
Fixtures and fittings |
10% reducing balance |
|
Motor vehicles |
25% reducing balance |
|
Caravan fleet |
10 - 15% reducing balance |
|
Plant and machinery |
10% reducing balance |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Website |
20% straight line |
|
Software |
10% straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
|
Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
22,773,453 |
22,098,470 |
|
Rendering of services |
|
|
|
|
|
3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
The analysis of the company's Turnover for the year by market is as follows:
|
2025 |
2024 |
|
|
UK |
|
|
|
Europe |
|
|
|
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
|
|
Operating lease expense - property |
|
|
|
Operating lease expense - plant and machinery |
|
|
|
Operating lease expense - other |
|
|
|
Profit on disposal of property, plant and equipment |
( |
- |
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Production |
|
|
|
Administration and support |
|
|
|
|
|
3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
230,454 |
221,726 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid director:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
Auditor's remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Finance charges |
|
|
|
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3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
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Taxation |
Tax charged/(credited) in the profit and loss account
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2025 |
2024 |
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Current taxation |
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UK corporation tax |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
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( |
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Tax expense in the income statement |
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The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
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2025 |
2024 |
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Profit before tax |
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Corporation tax at standard rate |
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Effect of expense not deductible in determining taxable profit (tax loss) |
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Total tax charge |
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Deferred tax
Deferred tax assets and liabilities
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2025 |
Liability |
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Differences between accumulated depreciation and capital allowances |
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Deferred tax on revalued property, plant and equipment |
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2024 |
Liability |
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Differences between accumulated depreciation and capital allowances |
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Deferred tax on revalued property, plant and equipment |
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3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
Tax relating to items recognised in other comprehensive income or equity
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2025 |
2024 |
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Deferred tax related to items recognised as items of other comprehensive income |
( |
( |
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Intangible assets |
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Website |
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Cost |
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At 1 November 2024 |
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Additions |
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At 31 October 2025 |
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Amortisation |
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At 1 November 2024 |
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Amortisation charge |
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At 31 October 2025 |
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Carrying amount |
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At 31 October 2025 |
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At 31 October 2024 |
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3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
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Tangible assets |
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Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Caravan fleet |
Total |
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Cost or valuation |
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At 1 November 2024 |
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Additions |
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Disposals |
- |
- |
- |
( |
( |
( |
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At 31 October 2025 |
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Depreciation |
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At 1 November 2024 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
- |
( |
( |
( |
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At 31 October 2025 |
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Carrying amount |
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At 31 October 2025 |
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At 31 October 2024 |
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Included within the net book value of land and buildings above is £18,421,283 (2024 - £18,663,634) in respect of freehold land and buildings and £1 (2024 - £1) in respect of short leasehold land and buildings.
Revaluation
The fair value of the company's Freehold land and buildings and Caravan fleet was revalued on
The valuation was performed based on market value of the assets. Based on this valuation the fair value of the assets was found not to be materially different from the carrying value in the financial statements. Owing to the age of the assets it has not been possible to identify the carrying amount under the historical cost model.
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
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2025 |
2024 |
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Caravan fleet |
193,080 |
87,947 |
3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
Restriction on title and pledged as security
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Stocks |
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2025 |
2024 |
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Work in progress |
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Finished goods and goods for resale |
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The carrying amount of stocks pledged as security for liabilities amounted to £
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Debtors |
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Note |
2025 |
2024 |
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Trade debtors |
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Amounts due from group undertakings |
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Other debtors |
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Prepayments |
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Income tax asset |
- |
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Cash and cash equivalents |
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2025 |
2024 |
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Cash on hand |
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Cash at bank |
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26,282 |
103,866 |
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Bank overdrafts |
( |
( |
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Cash and cash equivalents in statement of cash flows |
(1,310,014) |
(2,192,726) |
3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
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Creditors |
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Corporation tax |
60,136 |
- |
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Social security and other taxes |
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Outstanding defined contribution pension costs |
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Other creditors |
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Accrued expenses |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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- |
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Hire purchase contracts |
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Other borrowings |
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Current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Bank overdrafts |
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Hire purchase contracts |
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Other borrowings |
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- |
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3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
Included in the loans and borrowings are the following amounts due after more than five years:
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2025 |
2024 |
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After more than five years by instalments |
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- |
- |
Bank loans and overdrafts
The bank loans are repayable by instalments with the final instalment scheduled to be paid within 2-20 years from the balance sheet date. Interest is chargeable on six of bank loans at 2.0% above the bank base rate. There is one bank loan at 3.75% above base rate and three of the loans range frrom 2.2% - 2.4% above base rate. The loans are secured by a First Legal Charge over the Freehold Property of the company and additional charges over all other assets of the company.
During the year, financial covenants were breached and waived by the bank. Therefore the loans and borrowings have been disclosed as over and under a year.
On 1 February 2026, two loans were refinanced resulting in current loans as at the year end of £1,800,805 being reclassified as non-current.
Other borrowings
Hire purchase contracts are secured against the assets to which they relate.
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Obligations under leases and hire purchase contracts |
Finance leases
The total of future minimum lease payments is as follows:
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2025 |
2024 |
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Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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Operating leases
The total of future minimum non-cancellable lease payments is as follows:
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2025 |
2024 |
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Not later than one year |
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Later than one year and not later than five years |
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The amount of non-cancellable operating lease payments recognised as an expense during the year was £
3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
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Deferred tax and other provisions |
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Deferred tax |
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At 1 November 2024 |
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Increase in existing provisions |
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At 31 October 2025 |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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1,050 |
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1,050 |
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50 |
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50 |
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8,000 |
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8,000 |
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500 |
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500 |
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200 |
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200 |
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200 |
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200 |
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Rights, preferences and restrictions
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Ordinary shares have the following rights, preferences and restrictions: |
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Dividends |
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2025 |
2024 |
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£ |
£ |
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Interim dividend of £ |
169,650 |
200,650 |
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Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
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Related party transactions |
The company has taken advantage of the exemption in FRS 102 "Related Party Disclosures" from disclosing transactions with wholly owned members of the group.
3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
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Transactions with directors |
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2025 |
At 1 November 2024 |
Advances to director |
Repayments by director |
At 31 October 2025 |
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Director 1 |
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Interest free, unsecured and repayable on demand |
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( |
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Director 2 |
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Interest free, unsecured and repayable on demand |
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( |
- |
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Director 3 |
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Interest free, unsecured and repayable on demand |
( |
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( |
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Director 4 |
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Interest free, unsecured and repayable on demand |
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( |
( |
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2024 |
At 1 November 2023 |
Advances to director |
Repayments by director |
At 31 October 2024 |
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Director 1 |
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Interest free, unsecured and repayable on demand |
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( |
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Director 2 |
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Interest free, unsecured and repayable on demand |
( |
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( |
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Director 3 |
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Interest free, unsecured and repayable on demand |
( |
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( |
( |
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Director 4 |
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Interest free, unsecured and repayable on demand |
( |
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( |
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3T's Leisure Limited
Notes to the Financial Statements
Year Ended 31 October 2025
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Parent and ultimate parent undertaking |
The company's immediate and ultimate parent is
The ultimate controlling party is
The parent of the smallest and largest group in which these financial statements are consolidated is
The address of SBL Parks & Leisure Holdings Limited is:
The Airfield
Winkleigh
Devon
EX19 8DW