REGISTERED NUMBER: 00746473 (England and Wales)

Strategic Report,

Report of the Director and

Financial Statements

for the Year Ended 31 December 2025

for

Ellis Bros (Contractors) Ltd

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Income Statement

6

Other Comprehensive Income

7

Statement of Financial Position

8

Statement of Changes in Equity

9

Statement of Cash Flows

10

Notes to the Statement of Cash Flows

11

Notes to the Financial Statements

12

DIRECTOR:

I F Ellis

REGISTERED OFFICE:

7 Lansdowne Road

Skegness

Lincolnshire

PE25 2DJ

REGISTERED NUMBER:

00746473 (England and Wales)

SENIOR STATUTORY AUDITOR:

James Sewell BA (Hons) FCA CTA

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

The director presents his strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The principal activities of the company continue to be that of static and touring caravan parks described as Skegness Water Leisure Park (SWLP), Waterford, St Michael's Park and Greenacres, and of Building Contractors and Property Lettings. The results of the company for the year are as shown in the annexed financial statements and show a pre-tax profit of £71,135 for the year (down 39%), with turnover of £6,185,642 (down 12%), and net assets of £12,517,707 (down 0.01%).

2025 saw an upturn in energy costs, although later in the year, excess VAT costs were re-couped due to the "domestic" nature of the holiday parks but inflationary pressures also persisted. With the William Way development heading towards completion, there was a sharp drop in building materials purchased but with no house completions in 2025, tthere were no sales, which in the previous year represented £545,000 in building sales, explaining much of the drop in this income stream. The final four houses will appear in the 2026 accounts, as these were completed in the Jan-March 2026 period but two houses were retained by the company for rental purposes.

There was a small drop in total caravan sales income and commission (12%) but a 50% increase in sales costs as more stock was bought. The much expected increase in rates on the Parks materialised as the post-covid reliefs were phased out.

The year reflected the ongoing "cost of living crisis", with UK families still struggling to balance their personal budgets, which resulted in the industry wide drop-off in caravan sales.

There was a slight increase in caravan site trading income of 4% to £1,315,150. This was helped by the unusual pattern of a dry summer, which was also conducive to camping and touring.

PRINCIPAL RISKS AND UNCERTAINTIES

The weather was unusually helpful but one of the strengths of the Lincolnshire coast is its' appeal to families looking for budget holiday options and unfortunately, during the cost of living crisis, those families are the worst hit in terms of spare cash, which is why the level of casual trade doesn't reflect the perfect holiday weather in 2025.

As in previous times of economic uncertainty, Skegness is expected to remain busy but the fiscal drag holding back the UK property and business sectors always affects caravan sales and this key source of major income as predicted, continued to remain sluggish in 2025. Sound financial management is therefore still seen as a pre-requisite of business

survival, especially in a climate where UK Government policy often seems to fail to understand the pressures on businesses when facing low growth prospects.

SUMMARY

In summary the Directors and Management of the Company are extremely pleased with the trading results for the year and remain positive about the ability of the company to continue to grow and expand.

ON BEHALF OF THE BOARD:

I F Ellis - Director

11 August 2026

The director presents his report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activities of the company continue to be that of static and touring caravan parks described as Skegness Water Leisure Park (SWLP) and Greenacres, and of Building Contractors and Property Lettings.

DIVIDENDS

There are no declared dividends for the year ended 31 December 2025 (2024: £nil).

DIRECTOR

I F Ellis held office during the whole of the period from 1 January 2025 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is 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 director is required to:

-	select suitable accounting policies and then apply them consistently;

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

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

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

I F Ellis - Director

11 August 2026

Opinion

We have audited the financial statements of Ellis Bros (Contractors) Ltd (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 December 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 financial statements are authorised for issue.

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

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

We plan our work to gain an understanding of the significant laws and regulations that are of significance to the entity and the sector in which they operate. We perform our work to ensure that the entity is complying with its legal and regulatory framework.

-

We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making inquiries to the management and people charged with governance.

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

-

Substantive procedures performed in accordance with the ISAs (UK).

-

Challenging assumptions and judgments made by management in its significant accounting estimates.

-

Identifying and testing journal entries, in particular material journal entries and an assessment of year end journals.

-

Assessing the extent of compliance with the relevant laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

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

James Sewell BA (Hons) FCA CTA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

11 August 2026

REVENUE

4

6,185,642

7,048,026

Cost of sales

4,859,654

5,769,713

GROSS PROFIT

1,325,988

1,278,313

Administrative expenses

1,488,419

1,360,938

(162,431

)

(82,625

)

Other operating income

228,218

205,762

Gain/(loss) on revaluation of

investment property

65,000

10,000

OPERATING PROFIT

6

130,787

133,137

Income from participating interests

-

1,000

Interest receivable and similar income

2,069

16,773

2,069

17,773

132,856

150,910

Interest payable and similar expenses

7

61,721

33,820

PROFIT BEFORE TAXATION

71,135

117,090

Tax on profit

8

93,975

33,841

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(22,840

)

83,249

(LOSS)/PROFIT FOR THE YEAR

(22,840

)

83,249

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(22,840

)

83,249

FIXED ASSETS

Property, plant and equipment

9

10,011,140

10,251,865

Investments

10

30,150

30,150

Investment property

11

2,040,000

1,975,000

12,081,290

12,257,015

CURRENT ASSETS

Inventories

12

1,037,781

914,273

Debtors

13

1,055,959

967,105

Cash at bank and in hand

925,679

927,163

3,019,419

2,808,541

CREDITORS

Amounts falling due within one year

14

2,034,467

1,843,063

NET CURRENT ASSETS

984,952

965,478

TOTAL ASSETS LESS CURRENT LIABILITIES

13,066,242

13,222,493

CREDITORS

Amounts falling due after more than one year

15

(193,710

)

(382,276

)

PROVISIONS FOR LIABILITIES

19

(354,825

)

(299,670

)

NET ASSETS

12,517,707

12,540,547

CAPITAL AND RESERVES

Called up share capital

20

4,000

4,000

Capital redemption reserve

21

3,225

3,225

Fair value reserve

21

351,773

286,773

Retained earnings

21

12,158,709

12,246,549

SHAREHOLDERS' FUNDS

12,517,707

12,540,547

The financial statements were approved by the director and authorised for issue on 11 August 2026 and were signed by:

I F Ellis - Director

Called up

Capital

Fair

share

Retained

redemption

value

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

4,000

12,170,800

3,225

279,273

12,457,298

Changes in equity

Total comprehensive income

-

75,749

-

7,500

83,249

Balance at 31 December 2024

4,000

12,246,549

3,225

286,773

12,540,547

Changes in equity

Total comprehensive income

-

(87,840

)

-

65,000

(22,840

)

Balance at 31 December 2025

4,000

12,158,709

3,225

351,773

12,517,707

Cash flows from operating activities

Cash generated from operations

1

1,118,639

770,192

Interest paid

(46,961

)

(18,322

)

Interest element of hire purchase payments paid

(14,760

)

(15,498

)

Tax paid

(626

)

(100,470

)

Net cash from operating activities

1,056,292

635,902

Cash flows from investing activities

Purchase of tangible fixed assets

(211,464

)

(211,091

)

Sale of tangible fixed assets

74,235

74,500

Interest received

2,069

16,773

Dividends received

-

1,000

Net cash from investing activities

(135,160

)

(118,818

)

Cash flows from financing activities

Loan repayments in year

(259,056

)

(216,520

)

Capital repayments in year

(113,805

)

25,679

Amount introduced by directors

-

221,300

Amount withdrawn by directors

43,905

(237,255

)

Net cash from financing activities

(328,956

)

(206,796

)

Increase in cash and cash equivalents

592,176

310,288

Cash and cash equivalents at beginning of year

2

333,503

23,215

Cash and cash equivalents at end of year

2

925,679

333,503

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

71,135

117,090

Depreciation charges

406,174

422,089

Profit on disposal of fixed assets

(28,220

)

(18,728

)

Gain on revaluation of fixed assets

(65,000

)

(10,000

)

Finance costs

61,721

33,820

Finance income

(2,069

)

(17,773

)

443,741

526,498

(Increase)/decrease in inventories

(123,508

)

716,285

Increase in trade and other debtors

(186,877

)

(7,089

)

Increase/(decrease) in trade and other creditors

985,283

(465,502

)

Cash generated from operations

1,118,639

770,192

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

925,679

927,163

Bank overdrafts

-

(593,660

)

925,679

333,503

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

927,163

509,674

Bank overdrafts

(593,660

)

(486,459

)

333,503

23,215

3.	ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

927,163

(1,484

)

925,679

Bank overdrafts

(593,660

)

593,660

-

333,503

592,176

925,679

Debt

Finance leases

(252,701

)

113,805

(138,896

)

Debts falling due within 1 year

(215,800

)

130,600

(85,200

)

Debts falling due after 1 year

(243,380

)

128,456

(114,924

)

(711,881

)

372,861

(339,020

)

Total

(378,378

)

965,037

586,659

1.	STATUTORY INFORMATION

Ellis Bros (Contractors) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

4% on cost

Plant and machinery

-

15% on reducing balance and 15% on cost

Fixtures and fittings

-

15% on reducing balance and 10% on reducing balance

Motor vehicles

-

25% on reducing balance and 25% on cost

Computer equipment

-

10% on reducing balance

Land is not depreciated.

All fixed assets are initially recorded at cost.

A number of freehold properties included within the financial statements have been constructed by the company and therefore the cost is made up of material and labour costs.

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement and fair value reserve.

Investment property has been included at the directors estimate of market value based on experience and market data available, adjusted through the income statement, and include acquisition costs such as stamp duty and conveyancing costs.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises purchase price together with any incidental costs of acquisition.

Provision is made where necessary for obsolete, slow moving, or damaged items.

Work in progress

Work in progress comprises costs incurred on building and development projects that are incomplete at the reporting date. Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell.

Cost includes land acquisition costs, construction costs, direct labour, subcontractor costs, professional fees, and other directly attributable development expenditure.

Where the estimated selling price less costs to complete and sell a development is lower than its carrying amount, an appropriate provision is made immediately in the profit and loss account.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date.

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

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

Pension costs and other post-retirement benefits

The Company operates a defined money purchase contribution pension scheme on behalf of the directors, Mr F W J Ellis and Mr I F Ellis, and the employees Mr S Ellis-Peech and Miss K Ellis. The scheme funds are administered by trustees and are independent of the company's financial accounts. The costs are accounted for when paid.

Total contributions in respect of the pension schemes in the year amounted to £nil (2024: £nil).

4.

REVENUE

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

An analysis of revenue by class of business is given below:

2025

2024

£

£

Static & touring caravan parks

4,899,679

4,721,115

Caravan sales and commission

1,115,244

1,272,465

Buildings sales and work done

128,813

1,010,356

Agricultural income

41,906

44,090

6,185,642

7,048,026

An analysis of revenue by geographical market is given below:

2025

2024

£

£

United Kingdom

6,185,642

7,048,026

6,185,642

7,048,026

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,123,795

2,310,373

Social security costs

278,768

230,130

Other pension costs

54,736

58,035

2,457,299

2,598,538

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

2025

2024

Production staff

72

75

Administrative staff

16

17

Management staff

2

2

90

94

2025

2024

£

£

Director's remuneration

222,127

219,714

Director's pension contributions to money purchase schemes

-

1,829

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

-

1

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

222,127

219,714

Pension contributions to money purchase schemes

-

1,829