Company registration number SC089169 (Scotland)
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Notes to the financial statements
12 - 22
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
COMPANY INFORMATION
Directors
Mr PA Shaw
Mrs S M Evans
Mr JS Fallows
Mr DJ Evans
Mr J Clarke
Secretary
Rollos Law LLP
Company number
SC089169
Registered office
67 Crossgate
Cupar
Fife
KY15 5AS
Auditor
Waters & Atkinson
The Old Court House
Clark Street
Morecambe
Lancashire
LA4 5HR
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

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

Review of the business

The company operates in the holiday park industry and owns and manages freehold and leasehold holiday parks within the United Kingdom.

2025 was a challenging year which saw overall revenue, excluding one-off exceptions, increase by 3.4%. Our holidaying business continued to perform well with an 8% increase year on year. Secondary spend within our food and beverage facilities also outperformed last year. The contribution from caravan sales was in line with last year. Overall, the Directors were pleased with a solid year.

Principal risks and uncertainties

As for many businesses of our size, we are aware that any plans for the future development of the business may be subject to further unforeseen events outside of our control.

Development and performance

The company is in a good financial position at the end of the year, having traded in line with our expectations.

The company produces an annual budget and monitors its actual results at monthly intervals.

The directors continue to monitor the performance of the company, its employees, customers and suppliers and to take action when that performance fails to meet up to expected standards.

Key performance indicators

We consider that our key performance indicators are those that communicate the financial performance and strength of the company, these being turnover and operating profit.

Turnover for 2025 was £10,834,806 and £10,748,280 for 2024.

Profit before tax for 2025 was £1,370,835 and £483,189 for 2024.

On behalf of the board

Mr PA Shaw
Director
30 June 2026
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

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

Principal activities

The principal activity of the company continued to be that of the management of holiday park sites and the sale of holiday homes and allied accessories.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £59,000. The directors do not recommend payment of a final dividend.

Directors

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

Mr PA Shaw
Mrs S M Evans
Mr JS Fallows
Mr DJ Evans
Mr J Clarke
Auditor

Waters and Atkinson are deemed to be re-appointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

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

On behalf of the board
Mr PA Shaw
Director
30 June 2026
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

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

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

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

ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
- 4 -
Opinion

We have audited the financial statements of Abbeyford Caravan Company (Scotland) Limited (the 'company') for the year ended 31 December 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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

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

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

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

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

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED (CONTINUED)
- 6 -
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.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

-the nature of the industry and sector, control environment and business performance;

-results of our enquiries of management and assessment of the risks of irregularities;

-any matters we identified having obtained and reviewed the companies documentation of their policies and procedures relating to:

-identifying, evaluating and complying with laws and regulations and whether management were aware of any instances of non-compliance;

-detecting and responding to the risks of fraud and whether management have knowledge of any actual, suspected or alleged fraud;

-the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations and

-the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

Posting of unusual journals and complex transactions.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements.

The key laws and regulations we considered in this context included the UK Companies Act, employment law, health and safety, pensions legislation and tax legislation.

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud.

In addition to the above, our procedures to respond to risks identified included the following:

-reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements.

-enquiring of management concerning actual and potential litigation and claims;

-performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making the accounting estimates are indicative of potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED (CONTINUED)
- 7 -

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Damien Sissons BA FCA (Senior Statutory Auditor)
For and on behalf of Waters & Atkinson, Statutory Auditor
Chartered Accountants
The Old Court House
Clark Street
Morecambe
Lancashire
LA4 5HR
30 June 2026
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
10,834,806
10,748,280
Cost of sales
(2,795,764)
(2,839,749)
Gross profit
8,039,042
7,908,531
Administrative expenses
(6,542,927)
(7,318,832)
Operating profit
4
1,496,115
589,699
Interest receivable and similar income
7
51,966
60,333
Interest payable and similar expenses
8
(177,246)
(166,843)
Profit before taxation
1,370,835
483,189
Tax on profit
9
(352,731)
(156,648)
Profit for the financial year
1,018,104
326,541

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

ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
2025
2024
£
£
Profit for the year
1,018,104
326,541
Other comprehensive income
-
-
Total comprehensive income for the year
1,018,104
326,541
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
9,653,003
7,212,817
Current assets
Stocks
12
1,778,103
1,811,098
Debtors
13
206,942
179,208
Cash at bank and in hand
1,939,366
2,491,456
3,924,411
4,481,762
Creditors: amounts falling due within one year
14
(2,341,116)
(2,300,896)
Net current assets
1,583,295
2,180,866
Total assets less current liabilities
11,236,298
9,393,683
Creditors: amounts falling due after more than one year
15
(5,253,025)
(4,404,064)
Provisions for liabilities
Deferred tax liability
18
374,525
339,975
(374,525)
(339,975)
Net assets
5,608,748
4,649,644
Capital and reserves
Called up share capital
20
100
100
Profit and loss reserves
5,608,648
4,649,544
Total equity
5,608,748
4,649,644

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

The financial statements were approved by the board of directors and authorised for issue on 30 June 2026 and are signed on its behalf by:
Mr PA Shaw
Director
Company registration number SC089169 (Scotland)
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2024
100
4,382,003
4,382,103
Year ended 31 December 2024:
Profit and total comprehensive income
-
326,541
326,541
Dividends
10
-
(59,000)
(59,000)
Balance at 31 December 2024
100
4,649,544
4,649,644
Year ended 31 December 2025:
Profit and total comprehensive income
-
1,018,104
1,018,104
Dividends
10
-
(59,000)
(59,000)
Balance at 31 December 2025
100
5,608,648
5,608,748
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
1
Accounting policies
Company information

Abbeyford Caravan Company (Scotland) Limited is a private company limited by shares incorporated in Scotland. The registered office is 67 Crossgate, Cupar, Fife, KY15 5AS.

1.1
Basis of preparation

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

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

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

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements o f EV Caravan Park Limited. These consolidated financial statements are available from its registered office, The Old Court House, Clark Street, Morecambe, LA4 5HR.

1.2
Going concern

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

1.3
Revenue

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

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

1.4
Tangible fixed assets

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

ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -

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

Freehold land and buildings
No depreciation is provided on freehold land. 10% on cost is provided on that element of freehold buildings whose residual value is expected to be less than cost price.
Leasehold land and buildings
10% on cost and reducing balance and 5% on cost and over the period of the lease
Plant and equipment
33%, 25%, 20%, 10% and 5% on cost
Motor vehicles
25% on cost

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

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.6
Stocks

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

1.7
Cash and cash equivalents

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

1.8
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
Impairment of financial assets

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

Derecognition of financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

1.9
Equity instruments

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

1.10
Taxation

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

ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
Current tax

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

Deferred tax

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

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.12
Retirement benefits

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

1.13
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Judgements and key sources of estimation uncertainty

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

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

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation

Management have reviewed the asset lives and associated residual values of all tangible fixed asset classes and have concluded that asset lives and residual values are appropriate.

ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 16 -
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sales and lettings
10,834,806
10,748,280
2025
2024
£
£
Turnover analysed by geographical market
UK
10,834,806
10,748,280
2025
2024
£
£
Other revenue
Interest income
51,966
60,333
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
6,505
6,195
Depreciation of tangible fixed assets
312,095
294,295
Profit on disposal of tangible fixed assets
(13,899)
(5,233)
5
Employees

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

2025
2024
Number
Number
Directors
5
5
Other staff
95
102
Total
100
107

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,779,397
2,871,295
Social security costs
315,741
273,356
Pension costs
200,060
152,070
3,295,198
3,296,721
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
429,549
435,644
Company pension contributions to defined contribution schemes
157,334
108,000
586,883
543,644
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
148,417
155,000
Company pension contributions to defined contribution schemes
64,834
32,000
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
51,574
58,948
Other interest income
392
1,385
Total income
51,966
60,333
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
120,102
109,198
Other interest on financial liabilities
55,781
55,827
Interest on finance leases and hire purchase contracts
1,363
1,818
177,246
166,843
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
318,181
115,445
Deferred tax
Origination and reversal of timing differences
34,550
41,203
Total tax charge
352,731
156,648
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
9
Taxation
(Continued)
- 18 -

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

2025
2024
£
£
Profit before taxation
1,370,835
483,189
Expected tax charge based on the standard rate of corporation tax in the UK of 25% (2024: 25%)
342,709
120,797
Effects of:
Expenses that are not deductible in determining taxable profit
(6,431)
20,059
Permanent capital allowances in excess of depreciation
(18,097)
(25,411)
Deferred tax charge
34,550
41,203
Taxation charge in the financial statements
352,731
156,648
10
Dividends
2025
2024
£
£
Interim paid
59,000
59,000
11
Tangible fixed assets
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
969,041
7,196,708
2,621,509
385,882
11,173,140
Additions
2,432,166
7,988
302,205
45,620
2,787,979
Disposals
-
0
-
0
(63,095)
(38,788)
(101,883)
At 31 December 2025
3,401,207
7,204,696
2,860,619
392,714
13,859,236
Depreciation and impairment
At 1 January 2025
23,371
1,818,489
1,809,894
308,569
3,960,323
Depreciation charged in the year
-
0
83,840
153,825
74,430
312,095
Eliminated in respect of disposals
-
0
-
0
(27,397)
(38,788)
(66,185)
At 31 December 2025
23,371
1,902,329
1,936,322
344,211
4,206,233
Carrying amount
At 31 December 2025
3,377,836
5,302,367
924,297
48,503
9,653,003
At 31 December 2024
945,670
5,378,219
811,615
77,313
7,212,817
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
11
Tangible fixed assets
(Continued)
- 19 -

Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Motor vehicles
-
0
47,131
12
Stocks
2025
2024
£
£
Finished goods and goods for resale
1,778,103
1,811,098
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
49,314
33,141
Other debtors
-
0
10
Prepayments and accrued income
157,628
146,057
206,942
179,208
14
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans and overdrafts
16
251,930
214,591
Obligations under finance leases
17
-
0
14,993
Other borrowings
16
51,108
51,108
Payments received on account
833,378
908,861
Trade creditors
260,270
341,992
Corporation tax
318,181
115,445
Other taxation and social security
307,467
270,123
Other creditors
124,668
134,661
Accruals and deferred income
194,114
249,122
2,341,116
2,300,896
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
15
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
16
2,752,662
1,341,651
Other borrowings
16
702,628
753,736
Other creditors
1,797,735
2,308,677
5,253,025
4,404,064
Creditors which fall due after five years are payable as follows:
Payable by instalments
(1,970,678)
(934,383)
16
Loans and overdrafts
2025
2024
£
£
Bank loans
3,004,592
1,549,151
Bank overdrafts
-
0
7,091
Preference shares
5,952
5,952
Other loans
747,784
798,892
3,758,328
2,361,086
Payable within one year
303,038
265,699
Payable after one year
3,455,290
2,095,387

The long-term loans are secured by fixed charges over freehold land and property owned by the company.

The amount of bank loans so secured at 31 December 2025 was £1,718,048 (31 December 2024 £56,628).

17
Finance lease obligations
2025
2024
Amounts due:
£
£
Within one year
-
0
14,993
After more than one year
-
0
-
0
2025
2024
Future minimum lease payments due:
£
£
Within one year
-
0
14,993
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
17
Finance lease obligations
(Continued)
- 21 -

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is three years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

Obligations under finance leases are secured against the assets to which they relate.

18
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
374,525
339,975
2025
Movements in the year:
£
Liability at 1 January 2025
339,975
Charge to profit or loss
34,550
Liability at 31 December 2025
374,525

The deferred tax liability set out above is not expected to reverse in the foreseeable future and relates to accelerated capital allowances.

19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
200,060
152,070

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

20
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A,B,C,D & E of 10p each
1,000
1,000
100
100
ABBEYFORD CARAVAN COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
21
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
-
75,000
22
Related party transactions
Transactions with related parties

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

Legal fees were paid to the following Company where Mr J B Clarke is a member:

Woodhaven Consultants Limited: £12,000 (2024: £12,000).

23
Directors' transactions

Dividends totalling £0 (2024 - £0) were paid in the year in respect of shares held by the company's directors.

24
Ultimate controlling party

EV Caravan Park Limited is regarded by the directors as being the company's ultimate parent company.

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