REGISTERED NUMBER: 16584128 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 January 2026

for

Lowdham Leisureworld Holdings Limited

Page

Company Information

1

Group Strategic Report

2

Energy and Carbon Report forming part of the Group Strategic Report

5

Report of the Directors

6

Report of the Independent Auditors

8

Consolidated Statement of Comprehensive Income

11

Consolidated Statement of Financial Position

12

Company Statement of Financial Position

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Statement of Cash Flows

16

Notes to the Consolidated Statement of Cash Flows

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

Ms E L Lodder

S R Sharpe

C S Sharpe

REGISTERED OFFICE:

Lowdham Road

Gunthorpe

Nottingham

NG14 7ES

REGISTERED NUMBER:

16584128 (England and Wales)

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

PRINCIPAL ACTIVITY

The principal activity of the Group is a multi-franchise retailer of caravans, motorhomes, and campervans, along with associated parts, accessories, and aftersales services. The business operates from a retail site in Gunthorpe, Nottinghamshire, consisting of vehicle showroom, workshops, cafe, and large secure storage facility. Further units accommodate more specialised service and bodyshop facilities.

REVIEW OF BUSINESS

Market conditions

The leisure industry continues to evolve with motorhomes and campervans proving ever more popular, as the transition to electric cars continues to impact on the practicality of caravan ownership for some.

UK Stock levels throughout 2025 remained high, and this has had a material impact on the margins which have been achievable across the industry, whilst providing the consumer with an improved level of choice and stock availability.

In addition, the cost of living crisis has continued to have a material impact on consumer demand, in particular discretionary spend levels, and this has also directly impacted both sales and margin levels. Moving into the 2026 season, UK stock levels have slowly started to reduce from their high levels and it is likely that this will enable better margins to be achieved at some future point in time.

The cost of stocking plans continues to impact levels of profitability given the rise in interest rates seen in recent years, although some relief has been seen in recent months. They also have an impact on the customers desire to borrow for a new vehicle.

Overall, market conditions remain challenging with softening consumer demand and reduced levels of discretionary spend seen as the key factors in future trading levels. However, the business proudly retains UK franchises for some of the industry's leading global brands and remains well placed to take advantage of an upturn in consumer spending as and when it happens. Lower stock levels have enabled better margins to be achieved in the current financial year, and the associated stocking plan costs have also reduced significantly, both of which have led to much improved trading performance levels.

Results (including a consideration of key performance indicators)

Profit & Loss

The directors are pleased to report that during the period, sales revenues increased 3.2% to £69.9m, once again largely attributable to strong increases seen in Motorhome and Campervan sales, offset by continued reductions in caravan sales, reflecting the market trends seen in recent years.

Margin compression has been evident, as has been the case for many of our competitors, which is directly attributable to UK stock levels referred to above. However, there are signs that the position is improving.

Management's strategy to reduce stock levels and associated stocking plan interest costs was well executed during the period with stock levels reducing by c20%, and this trend continues into the new financial year.

Notwithstanding the inflationary pressure present in the UK economy, Administrative Expenses were reasonably well controlled in the period rising by 6.5%, which incorporated Government changes to National Insurance Contributions, and increases in Minimum Wage levels. Management continue to review AE on a monthly basis alongside trading performance.

The results for the year were in line with expectations.

2026 2025

£'000 £'000

Turnover 69,926 67,776

Gross profit 6,022 6,300

Gross profit % 8.6% 9.3%

Net profit before taxation 1,496 353

Balance sheet

Notwithstanding a disappointing trading performance during the period, net assets of the trading subsidiary increased significantly to c£11m primarily on account of the inter-company loan forgiveness and profit associated with the transfer of the Gunthorpe site to Lowdham Leisureworld Holdings Ltd.

Management have been successful in reducing stock levels during the period to c£24m from c£30m, and this trend has also continued into the new financial year as stock turn levels see improvement also. Whilst stocking plan interest reduced by well in excess of £100k, the real impact of the stock reduction is being seen in the current financial year, with significantly lower levels of plan utilisation aided by improved terms from the majority of our franchise manufacturers.

Alongside the reduction in stock levels, stocking plan utilisation reduced to c£17m at the year end from the previous year end position of c£23m. At the year-end, the group's stocking plan facilities were around 60% utilised - the business has no other borrowing.

Our cash balances continue to provide great levels of flexibility for the business to take advantage of trade opportunities that are presented, and these, alongside our stocking plan funding lines, provide the business with more than sufficient working capital for current trade levels and future expansion should market opportunities present itself.

Financial Review

In summary, as at 31st January 2026, the business remained in a good position, with a strong balance sheet, availability in wholesale vehicle funding lines and good levels of cash, all ensuring that the business remains well placed to accommodate a variety of future trading positions.

Management continue to produce high quality and detailed monthly Management Information, along with weekly flash MI, all of which allows close monitoring of business performance, and decisions to be taken in a timely manner as and when required.

Management also monitor non-financial key performance indicators which include:

- Customer satisfaction levels as measured by independent third party organisations;

- Staff absence and turnover levels.

PRINCIPAL RISKS AND UNCERTAINTIES

Business Environment

The management of the business and the execution of the business strategy are subject to a number of risks, including it's reliance on the UK economy, levels of consumer discretionary spend, reliance on vehicle manufacturers both in the UK, Europe, and overseas, alongside GBP/Euro and GBP/US$ exchange rates relating to imported products. Management continue to review these risks and ensure that appropriate monitoring and actions taken where appropriate.

Supply Chain

As there is limited certainty with regards to the supply of caravans, campervans, and motorhomes, both in terms of volumes and timings, this can create challenges in delivering the sale of vehicles to customers. However, we maintain close relationships with our manufacturers and franchisors to ensure we manage these risks.

Inventory Levels

Management review inventory levels on a weekly basis through informed reports and take actions to ensure that there is an appropriate balance between customer choice and cost to hold. It also enables management to identify market trends and react accordingly.

Financial Control

The activity of the business exposes it to a variety of financial risks, including impacts from the debt capital markets, interest rate risks, exchange rate risks, liquidity risks, and credit risk. The business employs appropriate risk management techniques to ensure that appropriate controls are maintained within the business to manage these risks.

SECTION 172(1) STATEMENT

The directors have complied with their duty to act, in good faith, to promote the success of the Company and Group for the benefit of its members as a whole and in particular have had regard to the following matters:

The likely consequences of any decision in the long term

The Company and Group makes decisions with the long term in mind as it continues to respond to the changing external environment. It reinvests its profit back into the business and builds long term relationships with its key suppliers.

The interests of the Company's employees

The success of the Company and Group is dependent on its employees and it ensures that their interests are taken care of in several ways. It nurtures talent and builds careers, providing training for industry recognised qualifications. It provides a reward package at least in line with the market.

The need to foster the Company and Group's business relationships with suppliers, customers and others

The Company and Group seeks to have long term relationships with its suppliers and customers. Employees build relationships with suppliers at all levels. The Group collects feedback from customers (on satisfaction questionnaires, on social media and Trustpilot), these are reviewed and improvements made where necessary. The Company and Group operates 'My Lowdhams' membership scheme with an extensive range of benefits.

The impact of the Company and Group's operation on the community and the environment

The Company and Group makes charitable donations to local clubs and societies and it lends vehicles to support local events. Through events held at Gunthorpe it brings custom to businesses in the local area. When investing, the Company and Group has regard for the environment with recent investments including LED lighting, air source heating systems, and solar panels.

The desirability of the Company and Group maintaining a reputation for high standards of business conduct

The Group is a member of the National Caravan Council (NCC). It helps to promote best practice in the industry, providing expert advice and guidance to help the Company and Group be efficient in activities and at the same time increase consumer confidence in the industry. The Group's workshops are inspected and approved by 'The Approved Workshop Scheme', (a joint enterprise between the NCC, The Caravan and Motorhome Club and The Camping and Caravanning Club).

The need to act fairly as between members of the Company and Group

The Company is owned by two generations of the same family. All members are involved in key decisions made by Group, balancing the needs of different stakeholders to ensure the long term success of the Company and Group.

ON BEHALF OF THE BOARD:

S R Sharpe - Director

23 July 2026

EMISSIONS AND ENERGY CONSUMPTION

We have considered the recommendations of the Financial Stability Board's Task Force on Climate-related Financial Disclosures (TCFD) when preparing this report. These recommendations encourage businesses to increase disclosure of climate-related information, with an emphasis on financial disclosure. Lowdham Leisureworld Limited supports these recommendations and are committed to disclosing the relevant information which can be found below.

In our principal activities being the retail of caravans, campervans, and motorhomes, parts and accessories, and aftersales servicing work, and therefore we have no manufacturing footprint to minimise.

This section has been prepared in accordance with our regulatory obligation to report greenhouse gas ("GHG") emissions pursuant to The Companies (Directors Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018 which implements the Government's policy on Carbon Reporting.

Our methodology to convert Kilowatt-hours to tonnes of C02e is based upon the UK Government GHG Conversion Factors for Company Reporting 2020 issued by DEFRA on 22 June 2022.

During the year ended 31 January 2026 the Company recorded greenhouse gas emissions from:

CO2 KWH

(tonnes)

Direct (scope 1) emissions from on site combustion of

Fuels 101.5 -

Gas 129.1 537,983

Indirect (scope 2) emissions from the purchase of

Electricity 58.4 330,059

Total 289.1

It has been impractical to obtain the emissions data relating to the consumption of fuel for the purposes of transport as the transport of goods for the company are organised by third parties and the emission data has not been shared.

Intensity ratio

Turnover (£m) 69.9

Emissions per £'m of Turnover 4.1

ON BEHALF OF THE BOARD:

S R Sharpe - Director

23 July 2026

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

DIVIDENDS

The total distribution of interim dividends in the year was £133,120 (2025 - £nil). The directors recommend that no final dividend be paid.

FUTURE DEVELOPMENTS

Whilst the order book previously reported has now been fulfilled the improved availability of vehicle stock allows the Company and Group to provide a better service to customers with choice from stock and improved lead times.

The Group is anticipating a further reduction in caravan sales as motorhomes and campervan demand continues to grow.

The increase in the National Living Wage applied in April 2024 and subsequent further changes to the National Minimum Wage in April 2025 was appreciated by relevant colleagues, although it created additional cost pressures for the Company and Group.

Investment in the facilities at Gunthorpe was made in 2025 further improving the customer experience.

DIRECTORS

The directors who have held office during the period from 1 February 2025 to the date of this report are as follows:

Ms E L Lodder - appointed 15 July 2025

S R Sharpe - appointed 15 July 2025

C S Sharpe - appointed 15 July 2025

FINANCIAL INSTRUMENTS

The company and group is funded through retained earnings, a loan from a connected company, an approved overdraft and through stocking facilities with various providers. The Company aims to manage liquidity risk whilst at the same time manage interest costs (and receipts foregone) together associated charges.

Vehicle stock is managed on a continual basis to ensure that availability and choice for customers is maintained, balanced against the costs of the stocking facility and risk of any downward revaluation.

Credit risk to customers is minimised with policies to ensure vehicles are not sold until payment received, either direct from the customer or from approved finance providers.

QUALIFYING INDEMNITY PROVISION

The company and group takes out indemnity insurance on behalf of the directors.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The company and group aims to ensure suppliers are paid on time within the terms agreed at the outset of the contract.

DISCLOSURE IN THE STRATEGIC REPORT

The directors have prepared a review of the business, together with a summary of the principal risks and uncertainties affecting the company, and these are detailed within the Strategic Report. The report includes an explanation of the company's financial risk management policies.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

S R Sharpe - Director

23 July 2026

Opinion

We have audited the financial statements of Lowdham Leisureworld Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2026 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 January 2026 and of the group's 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 group 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 group's and 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 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 Group 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 Group 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 Group 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 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 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page seven, 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 group's and the parent 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 group or the parent 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:

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.

Our approach included obtaining an understanding of the legal and regulatory frameworks that are applicable to the company and we determined those that are most significant. Based on the results of our risk assessment we designed audit procedures to identify non-compliance with such laws and regulations. The specific procedures included enquiry of management and those charged with governance around actual and potential litigation and claims.

In addition, and based on the results of our risk assessment we designed audit procedures to identify and address material misstatements in relation to fraud. Specifically we considered the risk of fraud through management override that may lead to a misappropriation of assets or inappropriate financial reporting. In response, we performed audit work over the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

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.

Steven Newman LLB BFP FCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

23 July 2026

TURNOVER

3

69,926,177

67,776,215

Cost of sales

63,904,657

61,475,826

GROSS PROFIT

6,021,520

6,300,389

Administrative expenses

6,575,405

6,173,474

(553,885

)

126,915

Other operating income

4

2,004,451

145,263

OPERATING PROFIT

6

1,450,566

272,178

Interest receivable and similar income

45,126

77,988

1,495,692

350,166

Interest payable and similar expenses

8

-

(2,762

)

PROFIT BEFORE TAXATION

1,495,692

352,928

Tax on profit

9

(94,549

)

87,384

PROFIT FOR THE FINANCIAL YEAR

1,590,241

265,544

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,590,241

265,544

Profit attributable to:

Owners of the parent

1,590,241

265,544

Total comprehensive income attributable to:

Owners of the parent

1,590,241

265,544

FIXED ASSETS

Tangible assets

12

2,363,659

2,162,615

Investments

13

-

-

2,363,659

2,162,615

CURRENT ASSETS

Stocks

14

23,979,242

29,722,735

Debtors

15

1,107,706

752,983

Cash at bank

2,441,607

2,863,643

27,528,555

33,339,361

CREDITORS

Amounts falling due within one year

16

19,905,967

26,972,850

NET CURRENT ASSETS

7,622,588

6,366,511

TOTAL ASSETS LESS CURRENT LIABILITIES

9,986,247

8,529,126

PROVISIONS FOR LIABILITIES

18

50,535

50,535

NET ASSETS

9,935,712

8,478,591

CAPITAL AND RESERVES

Called up share capital

19

1,000,002

1,000,002

Retained earnings

20

8,935,710

7,478,589

SHAREHOLDERS' FUNDS

9,935,712

8,478,591

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2026 and were signed on its behalf by:

S R Sharpe - Director

FIXED ASSETS

Tangible assets

12

2,900,000

-

Investments

13

1,000,002

-

3,900,002

-

CREDITORS

Amounts falling due within one year

16

2,900,000

-

NET CURRENT LIABILITIES

(2,900,000

)

-

TOTAL ASSETS LESS CURRENT LIABILITIES

1,000,002

-

CAPITAL AND RESERVES

Called up share capital

19

1,000,002

-

SHAREHOLDERS' FUNDS

1,000,002

-

Company's profit for the financial year

85,121

-

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2026 and were signed on its behalf by:

S R Sharpe - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2024

1,000,002

7,213,045

8,213,047

Changes in equity

Total comprehensive income

-

265,544

265,544

Balance at 31 January 2025

1,000,002

7,478,589

8,478,591

Changes in equity

Dividends

-

(133,120

)

(133,120

)

Total comprehensive income

-

1,590,241

1,590,241

Balance at 31 January 2026

1,000,002

8,935,710

9,935,712

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Balance at 31 January 2025

-

-

-

Changes in equity

Issue of share capital

1,000,002

-

1,000,002

Dividends

-

(85,121

)

(85,121

)

Total comprehensive income

-

85,121

85,121

Balance at 31 January 2026

1,000,002

-

1,000,002

Cash flows from operating activities

Cash generated from operations

1

(22,991

)

(66,466

)

Interest paid

-

2,762

Tax paid

25,366

(309,833

)

Net cash from operating activities

2,375

(373,537

)

Cash flows from investing activities

Purchase of tangible fixed assets

(422,914

)

(158,292

)

Sale of tangible fixed assets

1,625

-

Interest received

45,126

77,988

Net cash from investing activities

(376,163

)

(80,304

)

Cash flows from financing activities

New loans in year

100,000

(77,762

)

Amount withdrawn by directors

(53,009

)

-

Equity dividends paid

(95,239

)

-

Net cash from financing activities

(48,248

)

(77,762

)

Decrease in cash and cash equivalents

(422,036

)

(531,603

)

Cash and cash equivalents at beginning of year

2

2,863,643

3,395,246

Cash and cash equivalents at end of year

2

2,441,607

2,863,643

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

2026

2025

£

£

Profit before taxation

1,495,692

352,928

Depreciation charges

221,869

200,299

Profit on disposal of fixed assets

(1,625

)

-

Exceptional items

(2,125,000

)

-

Finance costs

-

(2,762

)

Finance income

(45,126

)

(77,988

)

(454,190

)

472,477

Decrease/(increase) in stocks

5,743,493

(6,450,550

)

(Increase)/decrease in trade and other debtors

(352,449

)

513,236

(Decrease)/increase in trade and other creditors

(4,959,845

)

5,398,371

Cash generated from operations

(22,991

)

(66,466

)

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 January 2026

31.1.26

1.2.25

£

£

Cash and cash equivalents

2,441,607

2,863,643

Year ended 31 January 2025

31.1.25

1.2.24

£

£

Cash and cash equivalents

2,863,643

3,395,246

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.25

Cash flow

At 31.1.26

£

£

£

Net cash

Cash at bank

2,863,643

(422,036

)

2,441,607

2,863,643

(422,036

)

2,441,607

Total

2,863,643

(422,036

)

2,441,607

1.	STATUTORY INFORMATION

Lowdham Leisureworld Holdings 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 General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity rounded to the nearest £.

The financial statements have been prepared on a going concern basis. The directors have assessed the company and group’s ability to continue in operational existence for the foreseeable future, which is at least 12 months from the date of approval of the financial statements.

As part of this assessment, the directors have considered the company and group’s current financial position, cash flow forecasts, and available funding. Based on this review, the directors have a reasonable expectation that the company and group has adequate resources to continue in business and meet its liabilities as they fall due.

Accordingly, the financial statements do not include any adjustments that would result if the company and group were unable to continue as a going concern.

Basis of consolidation

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.

On 15 July 2025 Lowdham Leisureworld Holdings Limited was incorporated to act as a holding company for the group. A share for share exchange on 15 October 2025 resulted in Lowdham Leisureworld Holdings Limited being the holding company of Lowdham Leisureworld Limited.

The introduction of a new holding company constitutes a group reconstruction and has been accounted for using merger accounting principles. Therefore, although the group reconstruction did not become effective until 15 October 2025, the consolidated financial statements of Lowdham Leisureworld Holdings Limited are presented as if the group had always existed. Accordingly, the results of Lowdham Leisureworld Limited for the entire year ended 31 January 2026 are shown in the consolidated profit and loss account and the comparative figures for the year ended 31 January 2025. No adjustments were made to the assets and liabilities of Lowdham Leisureworld Limited, which have been recorded at their book value immediately prior to the group reconstruction.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Stock valuations and recoverability of trading assets - these involve judgements as to the extent to which provisions are required to account for the risk of irrecoverability or obsolescence.

Turnover

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

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of Value Added Tax, returns, rebates and discounts.

The company recognises revenue when:

- The amount of revenue can be reliably measured;

- It is probable that future economic benefits will flow to the entity;

- and specific criteria have been met for each of the company's activities.

The reliability of measurement and probability of flow of economic benefits generally occurs at the completion of the transaction which is also the point of transfer of title at delivery.

Tangible fixed assets

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

Land and Buildings

-

1% - 20% on cost

Plant and machinery

-

25% - 33.3% straight line

Fixtures and fittings

-

25% - 33.3% straight line

Motor vehicles

-

20 - 25% reducing balance

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out method (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit and loss.

Financial instruments

Classification

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Recognition and measurement

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of future payments discounted at a market rate of interest for similar debt instrument.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets of group of assets.