Company No: SC493302 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	2,127,670		2,165,477
Investment property	5	377,395		363,175
		2,505,065		2,528,652
Current assets
Stocks		35,000		1,500
Debtors	6	244,186		8,445
Cash at bank and in hand		71,424		15,703
		350,610		25,648
Creditors: amounts falling due within one year	7	( 996,883)		( 821,744)
Net current liabilities		(646,273)		(796,096)
Total assets less current liabilities		1,858,792		1,732,556
Creditors: amounts falling due after more than one year	8	( 950,034)		( 985,987)
Provision for liabilities	9	( 200,627)		( 179,200)
Net assets		708,131		567,369
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		708,031		567,269
Total shareholders' funds		708,131		567,369

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Salty Dog Holidays Limited (registered number: SC493302) were approved and authorised for issue by the Board of Directors on 24 September 2026. They were signed on its behalf by:

Barry Scott Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Salty Dog Holidays Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 36 Moycroft Road, Moycroft Industrial Estate, Elgin, IV30 1XE, Scotland, United Kingdom. The principal place of business is West Beach Caravan Park, Hopeman, IV30 5RU.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for caravan and camping site rentals, gas sales, caravan sales and shop sales, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	20 % reducing balance
Vehicles	15 % reducing balance
Fixtures and fittings	20 % reducing balance
Computer equipment	20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the Company reviews its tangible and intangible 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		7

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2025	190,000		190,000
At 31 December 2025	190,000		190,000
Accumulated amortisation
At 01 January 2025	190,000		190,000
At 31 December 2025	190,000		190,000
Net book value
At 31 December 2025	0		0
At 31 December 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2025	1,929,805		138,624		732,058		284,811		6,122		3,091,420
Additions	0		4,217		141,387		1,919		0		147,523
Disposals	0		0		( 142,116)		0		0		( 142,116)
At 31 December 2025	1,929,805		142,841		731,329		286,730		6,122		3,096,827
Accumulated depreciation
At 01 January 2025	280,848		97,195		336,026		206,591		5,283		925,943
Charge for the financial year	38,596		9,547		67,846		15,829		168		131,986
Disposals	0		0		( 88,772)		0		0		( 88,772)
At 31 December 2025	319,444		106,742		315,100		222,420		5,451		969,157
Net book value
At 31 December 2025	1,610,361		36,099		416,229		64,310		671		2,127,670
At 31 December 2024	1,648,957		41,429		396,032		78,220		839		2,165,477

5. Investment property

	Investment property
	£
Valuation
As at 01 January 2025	363,175
Additions	14,220
As at 31 December 2025	377,395

The fair value of the investment property held by the company has been based on the purchase price of the property plus directly attributable costs. The directors consider this to be a true reflection of the fair value of the property at 31 December 2025.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	377,396		363,175

6. Debtors

	2025		2024
	£		£
Trade debtors	78,804		196
Amounts owed by related parties	66,061		876
Other debtors	99,321		7,373
	244,186		8,445

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	42,840		69,492
Trade creditors	108,212		12,321
Amounts owed to related parties	691,088		678,995
Taxation and social security	37,417		28,698
Obligations under finance leases and hire purchase contracts	28,370		17,938
Other creditors	88,956		14,300
	996,883		821,744

Included within bank loans is a secured loan by a fixed charge over the caravan site and a Coronavirus Business Interruption Loan Scheme which is 80% secured by the government.

The hire purchase obligations are secured over the assets to which they relate.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	878,113		938,253
Obligations under finance leases and hire purchase contracts	71,921		47,734
	950,034		985,987

Included within bank loans is a secured loan by a fixed charge over the caravan site and a Coronavirus Business Interruption Loan Scheme which is 80% secured by the government.

The hire purchase obligations are secured over the assets to which they relate.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans	706,754		767,783

9. Provision for liabilities

	2025		2024
	£		£
Deferred tax	200,627		179,200

10. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50 Ordinary shares of £ 1.00 each	50		50
50 A Ordinary shares of £ 1.00 each	50		50
	100		100

11. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts owed (from)/to Key Management Personnel	4,950		10,254

At 1 January 2025, the amount due to a related party was £10,254. During the year there were advances of £15,204 resulting in a balance of £4,950 due at the year end. The balance had no fixed terms of repayment.

Other related party transactions

	2025		2024
	£		£
Amounts due to related parties - Entities with control, joint control or significant influence over the company	691,088		678,995
Amounts due from related parties	(66,061)		(876)

The above balances are interest free and have no fixed terms of repayment.