REGISTERED NUMBER: 05261680 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2026

for

Oak Tree Motor Homes Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

R J Matthews

M C Morris

REGISTERED OFFICE:

Gin Close Way

Awsworth

Nottingham

Nottinghamshire

NG16 2HH

REGISTERED NUMBER:

05261680 (England and Wales)

AUDITORS:

Duncan & Toplis Audit Limited

Statutory Auditor

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

The directors present their strategic report for the year ended 31 March 2026.

REVIEW OF BUSINESS

The Company is a retailer of motorhomes and associated products and accessories. It retails primarily used motorhomes, which it sources from a wide variety of suppliers in the trade and privately; and prepares these vehicles to a high standard before sale. Oak Tree also sells motorhomes and other vehicles, including unwanted part-exchanges, to trade customers.

The Company's strategy is to provide choice, value and a great service to its customers, and values their

positive feedback which helps to encourage repeat business and customer referrals.

The year under review has seen turnover decrease from £25.0m to £24.0m with an unchanged number of units retailed. Gross profit margin rose from 11.2% to 12.0% through better buying. At the same time operating costs increased with administrative expenses increasing from £2.1m to £2.2m. As a result, operating profits have risen from £0.70m to £0.72m. The profit after tax has reduced from £0.59m to £0.56m.

KPIs which management use to determine progress of the business include units retailed, gross margin and operating profit before goodwill amortisation; together with the Company's Trustpilot score of 4.9 out of 5 stars.

PRINCIPAL RISKS AND UNCERTAINTIES

The business is exposed to a number of risks the most significant of which are:

- Reliance on a small senior management team

- The potential for depreciation of stock as market prices change

- The continued availability of suitably priced stock to purchase, due to changes in demand patterns, or in

supply

The company has appropriate risk management policies in place to minimise the impact of these risks.

THE POSITION OF THE COMPANY AT THE YEAR END

The Company has a robust and liquid balance sheet and sufficient financing facilities to take advantage of

market opportunities. Net assets at 31 March 2026 were £8.90m (2025 - £8.46m).

KEY PERFORMANCE INDICATORS

The directors use a number of performance indicators, both financial and non-financial. However, the sourcing of the motor homes to be sold, is of primary importance in ensuring the success of the company. The company also seeks to have a positive current asset position. These details appear on pages 8 and 9.

FUTURE DEVELOPMENTS

The company is facing significantly increased staff costs as labour availability, and increases in National Living Wage and in employers’ National Insurance rates all bite. Market conditions remain tough and directors consider that the company's market place will remain very competitive in the near future. However, the directors believe that, with its well capitalised balance sheet, high levels of service and strong management team, the company is well placed to take advantage of any opportunity in the coming year.

ON BEHALF OF THE BOARD:

R J Matthews - Director

30 September 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of sales of motor homes.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2026 will be £127,500.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2025 to the date of this report.

R J Matthews

M C Morris

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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;

-	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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are 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 each director 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:

R J Matthews - Director

30 September 2026

Opinion

We have audited the financial statements of Oak Tree Motor Homes Limited (the 'company') for the year ended 31 March 2026 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 March 2026 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 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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, 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 Directors 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 Directors 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 Directors.

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

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

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

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

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

-	the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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.

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:

Extent to which the audit was considered capable of detecting irregularities, including fraud

The capability to detect irregularities is based on the auditor identifying and assessing the risks of material misstatement of the financial statements, whether due to fraud or error, and then designing and performing audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

a) Identifying and assessing potential risks related to irregularities

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

-

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

-

Consideration of the results of our enquiries of management and those charged with governance about their own identification and assessment of the risks of irregularities;

-

Understanding the company's policies and procedures on compliance with laws and regulations and management of fraud risk, including documentation of instances of non-compliance of laws and regulations and instances of actual, suspected or alleged fraud;

-

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

-

Understanding the legal and regulatory frameworks that the company operates in through enquiry of management and those charged with governance and understanding the company's industry and sector. The key laws and regulations that were considered to have an effect on material amounts and disclosures in the financial statements included the Companies Act and tax legislation.

b) Audit response to risks identified

Based on this understanding, the following audit procedures were designed and performed to respond to the risks identified:

-

Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations described as having a direct effect on the financial statement;

-

Enquiring of management, those charged with governance and, where applicable, the company's solicitors 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;

-

Reviewing minutes of meetings of those charged with governance and, where applicable, correspondence with regulators;

-

Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business;

-

Communication of potential fraud risks to all engagement team members and remaining 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 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.

Mark Andrew Torr FCCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited

Statutory Auditor

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

7 October 2026

TURNOVER

4

24,012,311

25,032,587

Cost of sales

(21,122,021

)

(22,234,751

)

GROSS PROFIT

2,890,290

2,797,836

Administrative expenses

(2,169,198

)

(2,101,726

)

OPERATING PROFIT

6

721,092

696,110

Interest receivable and similar income

17,878

37,448

738,970

733,558

Interest payable and similar expenses

7

(11,578

)

(2,473

)

PROFIT BEFORE TAXATION

727,392

731,085

Tax on profit

8

(189,761

)

(137,055

)

PROFIT FOR THE FINANCIAL YEAR

537,631

594,030

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

537,631

594,030

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

151,847

89,765

151,847

89,765

CURRENT ASSETS

Stocks

12

3,367,609

3,480,928

Debtors

13

5,549,275

5,384,334

Cash at bank and in hand

853,988

635,818

9,770,872

9,501,080

CREDITORS

Amounts falling due within one year

14

(1,031,160

)

(1,122,568

)

NET CURRENT ASSETS

8,739,712

8,378,512

TOTAL ASSETS LESS CURRENT LIABILITIES

8,891,559

8,468,277

PROVISIONS FOR LIABILITIES

16

(24,475

)

(11,324

)

NET ASSETS

8,867,084

8,456,953

CAPITAL AND RESERVES

Called up share capital

17

10,100

10,100

Share premium

18

980,000

980,000

Capital redemption reserve

18

10,000

10,000

Retained earnings

18

7,866,984

7,456,853

SHAREHOLDERS' FUNDS

8,867,084

8,456,953

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2026 and were signed on its behalf by:

R J Matthews - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 April 2024

10,100

7,056,823

980,000

10,000

8,056,923

Changes in equity

Dividends

-

(194,000

)

-

-

(194,000

)

Total comprehensive income

-

594,030

-

-

594,030

Balance at 31 March 2025

10,100

7,456,853

980,000

10,000

8,456,953

Changes in equity

Dividends

-

(127,500

)

-

-

(127,500

)

Total comprehensive income

-

537,631

-

-

537,631

Balance at 31 March 2026

10,100

7,866,984

980,000

10,000

8,867,084

Cash flows from operating activities

Cash generated from operations

1

1,026,971

2,644,676

Interest paid

(11,578

)

-

Interest element of hire purchase or finance lease rental payments paid

-

(2,473

)

Tax paid

(566,633

)

(1,379,257

)

Taxation refund

147,982

39,398

Net cash from operating activities

596,742

1,302,344

Cash flows from investing activities

Purchase of tangible fixed assets

(84,886

)

(42,264

)

Sale of tangible fixed assets

-

1,500

Interest received

17,878

35,158

Net cash from investing activities

(67,008

)

(5,606

)

Cash flows from financing activities

Amount withdrawn by directors

(184,064

)

(723,900

)

Equity dividends paid

(127,500

)

(120,000

)

Net cash from financing activities

(311,564

)

(843,900

)

Increase in cash and cash equivalents

218,170

452,838

Cash and cash equivalents at beginning of year

2

635,818

182,980

Cash and cash equivalents at end of year

2

853,988

635,818

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

31.3.26

31.3.25

£

£

Profit before taxation

727,392

731,085

Depreciation charges

22,803

23,466

Profit on disposal of fixed assets

-

(11,413

)

Finance costs

11,578

2,473

Finance income

(17,878

)

(37,448

)

743,895

708,163

Decrease in stocks

113,319

556,602

Decrease in trade and other debtors

5,892

1,552,424

Increase/(decrease) in trade and other creditors

163,865

(172,513

)

Cash generated from operations

1,026,971

2,644,676

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2026

31.3.26

1.4.25

£

£

Cash and cash equivalents

853,988

635,818

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

635,818

182,980

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.25

Cash flow

At 31.3.26

£

£

£

Net cash

Cash at bank and in hand

635,818

218,170

853,988

635,818

218,170

853,988

Total

635,818

218,170

853,988

1.	STATUTORY INFORMATION

Oak Tree Motor Homes Limited 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

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

The company recognises turnover when the following criteria have been met:

Sale of goods

Revenue from the sale of goods is recognised when :

(a) the significant risks and rewards of ownership have been transferred to the buyer;

(b) the company retains no ongoing involvement or control over the goods;

(c) the revenue can be reliably measured;

(d) it is probable that the Company will receive the consideration due under the transaction; and

(e) the costs incurred in respect of the transaction can be reliably measured.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been

amortised evenly over 10 years, its estimated useful life from the date of transition of 1 April 2014 to

FRS102. Prior to transition, goodwill was being amortised over the estimated useful life of 20 years.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to the location and condition necessary for its intended use.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the purchase on a first-in, first-out basis.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to sell and an impairment charge is recognised in the Statement of Comprehensive Income.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under the hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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 accounts receivable and payable, loans from banks and other third parties.

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 profit and loss account.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

i) Useful economic lives of tangible assets

The annul depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of assets. The useful economic lives and residual values are reviewed annually. They are amended when necessary to reflect current accounting estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

ii) Stock

At each reporting date, stock is assessed for recoverability. If there is any evidence of impairment, the carrying amount of the stock is reduced to its recoverable amount. The impairment loss is recognised in the income statement.

4.

TURNOVER

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

5.	EMPLOYEES AND DIRECTORS

31.3.26

31.3.25

£

£

Wages and salaries

1,319,765

1,180,026

Social security costs

167,231

122,208

Other pension costs

21,470

21,608

1,508,466

1,323,842

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

31.3.26

31.3.25

Directors

2

2

Administration

10

10

Production

30

29

42

41

31.3.26

31.3.25

£

£

Directors' remuneration

201,935

117,835

Directors' pension contributions to money purchase schemes

480

437

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

Money purchase schemes

1

1

Information regarding the highest paid director for the year ended 31 March 2026 is as follows:

31.3.26

£

Emoluments etc

172,210

Pension contributions to money purchase schemes

480

6.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.3.26

31.3.25

£

£

Hire of plant and machinery

1,040

1,040

Other operating leases

34,299

32,799

Depreciation - owned assets

22,803

23,466

Profit on disposal of fixed assets

-

(11,413

)

Auditors' remuneration

16,570

17,008

Related party write off

-

160,013

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.3.26

31.3.25

£

£

Corporation tax interest

11,578

-

Hire purchase

-

2,473

11,578

2,473

8.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.3.26

31.3.25

£

£

Current tax:

UK corporation tax

176,610

223,137

Over/under provided

-

(90,018

)

Total current tax

176,610

133,119

Deferred tax

13,151

3,936

Tax on profit

189,761

137,055

UK corporation tax has been charged at 25% (2025 - 25%).