Registered number: 11815441
COMPANY INFORMATION
CONTENTS
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The director presents the strategic report for the year ended 31 December 2025.
The principal activity of the Group is the ownership and operation of holiday parks and leisure businesses.
Results for the year and the financial position at the year end are disclosed in the financial statements and are considered satisfactory by the director based on her experience of the industry and the size of the Group. Turnover has decreased by 4.86% (2024 - Increase of 7%) mainly due to a reduction in utility recharges and commissions received along with a loss of membership fee income due to the disposal of a golf club during 2025. The margin decreased as a result of increased maintenance costs at a number of parks.
In addition, an exceptional cost for environmental waste disposal of £7,200,000 was incurred. During previous years, a tenant of a piece of land owned by the Group was allowing the illegal dumping of waste material on the Group land. The Environment Agency visited the site and deemed that this material required safely removing. Despite the Group’s best efforts, the tenant was unable to deal with the issue. Under existing legislation, the Group, despite not being at fault, was responsible for the clearing of the site. There were no fines or prosecutions against the Group in this respect. See Note 13.
Results for the year and the financial position at the year end are disclosed in the financial statements and are considered satisfactory by the director based on her experience of the industry and the size of the Group. Turnover has decreased by 4.86% (2024 - Increase of 7%) mainly due to a reduction in utility recharges and commissions received along with a loss of membership fee income due to the disposal of a golf club during 2025. The margin decreased as a result of increased maintenance costs at a number of parks.
In addition, an exceptional cost for environmental waste disposal of £7,200,000 was incurred. During previous years, a tenant of a piece of land owned by the Group was allowing the illegal dumping of waste material on the Group land. The Environment Agency visited the site and deemed that this material required safely removing. Despite the Group’s best efforts, the tenant was unable to deal with the issue. Under existing legislation, the Group, despite not being at fault, was responsible for the clearing of the site. There were no fines or prosecutions against the Group in this respect. See Note 13.
The management of the business and the execution of the Group's strategies are subject to risk, the main risk being the competition in the marketplace and the strain on our euro supply chain leading to increased costs of finished goods.
The Group's principal financial instruments comprise bank balances, bank overdrafts, trade creditors, trade debtors and balances due from group and associated companies and individuals. The main purpose of these instruments is to raise funds for the Group's operations and to finance the Group's trading activities.
Due to the nature of the financial instruments used by the Group there is no exposure to price risk. The Group's approach to managing other risks applicable to the financial instruments concerned is shown below.
In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts and bank loans.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.
Trade creditors liquidity risk is managed by ensuring funds are available to meet amounts due.
In respect of balances due to and from related parties, the director is aware of the individual group companies' finance requirements and has determined that these will only be repaid, in whole or in part, when sufficient funds are available.
The Group's principal financial instruments comprise bank balances, bank overdrafts, trade creditors, trade debtors and balances due from group and associated companies and individuals. The main purpose of these instruments is to raise funds for the Group's operations and to finance the Group's trading activities.
Due to the nature of the financial instruments used by the Group there is no exposure to price risk. The Group's approach to managing other risks applicable to the financial instruments concerned is shown below.
In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts and bank loans.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.
Trade creditors liquidity risk is managed by ensuring funds are available to meet amounts due.
In respect of balances due to and from related parties, the director is aware of the individual group companies' finance requirements and has determined that these will only be repaid, in whole or in part, when sufficient funds are available.
Page 1
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The key performance indicators used to determine the progress and performance of the Group are set out below:
31.12.2025 31.12.2024
£ £
Turnover 25,953,362 27,279,870
Gross profit 16,123,142 19,923,094
Gross profit margin 62% 73%
Operating (loss)/profit (16,646,089) 11,231,694
EBITDA (13,692,103) 14,263,789
EBITDA percentage (53%) 52%
31.12.2025 31.12.2024
£ £
Turnover 25,953,362 27,279,870
Gross profit 16,123,142 19,923,094
Gross profit margin 62% 73%
Operating (loss)/profit (16,646,089) 11,231,694
EBITDA (13,692,103) 14,263,789
EBITDA percentage (53%) 52%
This report was approved by the board and signed on its behalf.
Page 2
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The director presents her report and the financial statements for the year ended 31 December 2025.
The director is responsible for preparing the Group Strategic Report, the Director's Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to £15,470,656 (2024 - profit £304,208).
Dividends of £1,129,942 were paid in the year (2024 - £499,997). The director does not recommend payment of a final dividend.
The directors who served during the year were:
The Group had a successful year before the exceptional items incurred and the director remains confident that the strategy the business continues to pursue in the marketplace will ensure its future stability through continued growth. The director will continue to seek opportunities to acquire further parks.
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DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Operational risks
The Group is mindful of the need to recruit and retain specialist personnel and monitors the market for such specialisms and ensures remuneration is appropriate.
Compliance risks
These include health and safety, employment, and environmental legislation. The Group maintains health and safety training and application. The Group monitors the legal environment and adjusts business processes as required.
Economic risks
The business monitors market conditions and adjusts as required.
Financial risk management
The director has overall responsibility for the establishment and oversight of the Group's risk management framework. The director is responsible for developing and monitoring the Group's risk management strategy and policies.
There have been no changes to the Group's exposures to risk or the methods used to measure and manage these risks during the year.
Credit risk management
Trade accounts receivable are from a broad customer base. The Group monitors the financial position of its clients on an ongoing basis. The granting of credit is controlled by application and account limits. An allowance is made for specific bad debts and at the reporting date management did not consider there to be any material credit risk exposure.
The Group is mindful of the need to recruit and retain specialist personnel and monitors the market for such specialisms and ensures remuneration is appropriate.
Compliance risks
These include health and safety, employment, and environmental legislation. The Group maintains health and safety training and application. The Group monitors the legal environment and adjusts business processes as required.
Economic risks
The business monitors market conditions and adjusts as required.
Financial risk management
The director has overall responsibility for the establishment and oversight of the Group's risk management framework. The director is responsible for developing and monitoring the Group's risk management strategy and policies.
There have been no changes to the Group's exposures to risk or the methods used to measure and manage these risks during the year.
Credit risk management
Trade accounts receivable are from a broad customer base. The Group monitors the financial position of its clients on an ongoing basis. The granting of credit is controlled by application and account limits. An allowance is made for specific bad debts and at the reporting date management did not consider there to be any material credit risk exposure.
The Group recognises that its workforce is its most important asset in delivering long-term success.
Engagement: We continue to engage with our workforce and provide training as required.
Wellbeing: We support employee wellbeing.
Engagement: We continue to engage with our workforce and provide training as required.
Wellbeing: We support employee wellbeing.
The Group carefully maintains good relationships with its stakeholders.
We regularly engage with our clients.
We aim to develop long-term relationships with key personnel within our client base and are keen to align our success to theirs.
Suppliers: Our supply chain remains a key driver to long-term success. We engage with our suppliers regularly.
Banks and Lenders: We have a small portfolio of trusted finance providers so we can maintain and develop our reputation as a well-managed business.
We regularly engage with our clients.
We aim to develop long-term relationships with key personnel within our client base and are keen to align our success to theirs.
Suppliers: Our supply chain remains a key driver to long-term success. We engage with our suppliers regularly.
Banks and Lenders: We have a small portfolio of trusted finance providers so we can maintain and develop our reputation as a well-managed business.
Page 4
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Post year end, the banking facilities were extended beyond the repayment date of 1 June 2026, and new, increased facilities have been agreed in principle with the Group's bankers.
Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
Page 5
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEST HOLDINGS GROUP LIMITED
We have audited the financial statements of Best Holdings Group Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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 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 Group's or the Parent 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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The director is 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.
Page 6
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEST HOLDINGS GROUP LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Director's Report.
Page 7
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEST HOLDINGS GROUP LIMITED (CONTINUED)
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 Group 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:
∙The Group is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including:
−The Companies Act 2006;
−Financial Reporting Standard 102;
−UK Tax Legislation;
−UK Employment Legislation;
−UK Health and Safety Legislation;
−UK General Data Protection Regulation; and
−The Mobile Homes Act 1983.
∙We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
∙We understood how the Group is complying with those legal and regulatory frameworks by making inquiries to management and those responsible for legal and compliance procedures.
∙The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.
∙We assessed the susceptibility of the Group's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
−Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
−Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
−Challenging assumptions and judgements made by management in its significant accounting estimates; and
−Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
∙As a result of the above 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:
−The application of inappropriate judgements or estimation to manipulate the Group's financial position;
−Posting of unusual journals and complex transactions; and
−The use of management override of controls to manipulate results, or to cause the Group to enter into transactions not in its best interests.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEST HOLDINGS GROUP LIMITED (CONTINUED)
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 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 Auditor's 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
2nd Floor, Origin One
108 High Street
RH10 1BD
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 10
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 42 form part of these financial statements.
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COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 42 form part of these financial statements.
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 13
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 14
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 15
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 16
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 17
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Best Holdings Group Limited is a private company limited by shares, incorporated in England and Wales under the Companies Act 2006. The address of its registered office is disclosed on the company information page. The principal place of business is Wyldecrest House, 857 London Road, Thurrock, Essex, RM20 3AT.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The bank extended the banking facilities, due to be repaid on 1 June 2026, on the same terms whilst new facilities were negotiated. Post year end, new terms have been agreed and are with the bank's legal department to complete. Based on this and the cashflow forecasts the director is satisfied that the Company and Group are a going concern.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.
All intangible assets are considered to have a finite useful life of 20 years.
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:
Some of the subsidiaries freehold properties are depreciated.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Any premium on acquisition is dealt with in accordance with the goodwill policy.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Group's Statement of Financial Position when the Group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of financial assets
Page 23
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Intangible assets
Establishing useful economic lives of goodwill to assess the amortisation of intangible fixed assets.
Property valuations
The key sources of estimation uncertainty relate to the valuation of the freehold property portfolio, where valuations are conducted regularly. The evidence to support the valuations is based primarily on recent, comparable market transactions on an arm's-length basis or from consideration of yields on similar properties. However, the assumptions applied are inherently subjective and so are subject to a degree of uncertainty.
Provision for doubtful debts
The Company makes an estimate of the recoverable value of the trade and other debtors. The Company uses estimates based on historical experience in determining the level of debts, which the Company believes will not be collected. These estimates include such factors as the current credit rating of the debtor, the ageing profile of the debtors and historical experience. Any significant reduction in the level of customers that default on payments or other significant improvements that resulted in a reduction in the level of bad debt provision would have a positive impact on the operating results. The level of provision required is reviewed on an ongoing basis.
Page 25
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Analysis of turnover by country of destination:
Page 26
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 27
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 28
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12.Taxation (continued)
There are no factors that may affect future tax charges.
Page 29
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Page 30
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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The freehold properties are revalued annually by the director and independent chartered surveyors, Avison Young. The valuation was based on an open market value basis by reference to market evidence and development value.
Page 31
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
15.Tangible fixed assets (continued)
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Page 32
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 33
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Subsidiary undertakings (continued)
Page 34
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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The investment properties are revalued annually by the director and independent chartered surveyors, Avison Young. The valuation was based on an open market value basis by reference to market evidence and development value.
Page 35
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 36
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 37
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
22.Loans (continued)
Page 38
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Page 39
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Redeemable preference shares are classified as debt in accordance with section 22 of FRS 102 (liabilities and equity). The Company is not obliged to redeem these shares and merely has the option to do so. The holders are not able to attend or vote at meetings. No premium is required to be paid on redemption, and the holders are entitled to a 4% return per annum. This dividend is treated as interest payable.
Revaluation reserve
Profit and loss account
Page 40
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
A prior year adjustment of £281,986 has been recognised to correct incorrectly accrued income in a subsidiary company. The adjustment resulted in a decrease in revenue in the prior year of £281,986, with a corresponding decrease in trade receivables of £281,986. There was no impact on cash arising from this adjustment.
During the acquisition of Bewicke Maine Limited, in 2022, there was a verbal agreement that the original shareholder loan of £435,416 would not be repaid effectively reducing the total consideration for the acquisition. Accordingly, the adjustment has been reflected as a reduction in the carrying value of the investment and an increase in the intercompany debtor balance. On consolidation, the prior year adjustment resulted in a corresponding £435,416 reduction in goodwill. The adjustment had no impact on cash or profit and loss.
During the year it was identified that an intercompany debt in the sum of £228,462, within Best Holdings (UK) Limited, was the cost of investment of the acquisition of Ruby Property Rental Limited in 2021. It was therefore reclassified as an investment and eliminated upon consolidation leading to negative goodwill of £958,230. The effect on the reserves for the amortisation charge was an increase of £95,823. There is no effect on the current or earlier taxation.
During the acquisition of Bewicke Maine Limited, in 2022, there was a verbal agreement that the original shareholder loan of £435,416 would not be repaid effectively reducing the total consideration for the acquisition. Accordingly, the adjustment has been reflected as a reduction in the carrying value of the investment and an increase in the intercompany debtor balance. On consolidation, the prior year adjustment resulted in a corresponding £435,416 reduction in goodwill. The adjustment had no impact on cash or profit and loss.
During the year it was identified that an intercompany debt in the sum of £228,462, within Best Holdings (UK) Limited, was the cost of investment of the acquisition of Ruby Property Rental Limited in 2021. It was therefore reclassified as an investment and eliminated upon consolidation leading to negative goodwill of £958,230. The effect on the reserves for the amortisation charge was an increase of £95,823. There is no effect on the current or earlier taxation.
At the year end there was an outstanding HM Revenue & Customs enquiry into a VAT reclaim on the purchase of a major asset; there are no assessments or estimates in place at the year end and it is not currently practicable to estimate the potential financial effect of the enquiry. The Company has taken professional advice on the matter and believes there is no liability arising and accordingly no provision has been made in the financial statements.
The Group 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. Contributions totalling £11,651 (2024 - £21,251) were payable to the fund at the reporting date and are included in creditors.
31.Guarantees
At the year end, there was a composite company unlimited multilateral guarantee provided by Best Holdings (UK) Limited, Shelfside (Holdings) Limited, UK Properties Management Ltd, Wyldecrest Parks (Management) Ltd, Shelfside Management Ltd, Shelfside Holdings Group Ltd, Wyldecrest Parks (West) Ltd, Wilbrook Management Ltd, Felmoor Park Ltd, Felmoor Holidays Ltd, Crazy Horse Saloon Bar & Grill Ltd, Bewicke Main Limited and St Lawrence Caravans Ltd in respect of the bank borrowings. There is a personal guarantee given by the ultimate owner on certain loans.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Group is ultimately controlled by A. W. Best.
On 17 June 2025, the Group disposed of its 100% interest in Wyldecrest Golf & Leisure Limited (WGLL) and St Lawrence Inn Limited (SLIL) for cash consideration of £1 each, resulting in the Company ceasing to control them from that date.
The gain on disposal recognised in the consolidated income statement was £1,537,215.
The gain on disposal recognised in the consolidated income statement was £1,537,215.
Neither disposal meets the criteria for presentation as a discontinued operation.
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