REGISTERED NUMBER: 02287227 (England and Wales)

Tir Prince Raceway Limited

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 28 February 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Statement of Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

Mr A J Williams

Mrs A Williams

SECRETARY:

Mr A J Williams

REGISTERED OFFICE:

Towyn Road

Towyn

Abergele

LL22 9NW

REGISTERED NUMBER:

02287227 (England and Wales)

AUDITORS:

Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

The directors present their strategic report of the company and the group for the year ended 28 February 2025.

The Group consists of several leisure and tourism offerings across the North Wales Coast, to include a pleasure Pier, a racetrack, a fair ground, a market and family entertainment centres. The offerings are split between being directly operated and sub -let to third parties whereby the income is derived from rent. The offering is a mixture of indoor and outdoor family entertainment.

REVIEW OF BUSINESS

Group turnover decreased during the year from £8.7m to £8.2m, while gross profit decreased from £7.1m to £6.8m. Despite lower revenue, profitability remained robust and reflects the continued strength of the tourism market and the ongoing popularity of the "staycation" trend

The Group has continued to invest in fixed assets, including the acquisition of a new mobile bar unit, alongside upgrades to attractions and entertainment centres. The business traded well overall, supported by sending some of the Group attractions, including the Ferris Wheel and Carousel to major UK cities such as Sheffield and London, generating additional travelling revenue alongside on-site performance.

PRINCIPAL RISKS AND UNCERTAINTIES

The leisure and entertainment industry naturally carries exposure to a range of operational and financial risks. The Group seeks to manage these proactively to protect trading performance.

Market risks

Demand for leisure activities is influenced by economic conditions, consumer confidence and seasonal weather patterns. The Group mitigates these factors through diversified attraction.

Health and safety risks

As a public facing entertainment operator, the group is subject to extensive safety regulations.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The group uses various financial instruments including loans, cash and various items, such as trade creditors that arise directly from its operations. The existence of these financial instruments exposes the company to a number of financial risks, which are described in more detail below.

The main risks arising from the group's financial instruments are liquidity risk, interest rate risk & cash flow. The directors review and agree policies for managing each of these risks and they are summarised below.

Liquidity risk

The group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.

Interest Rate risk

The companies within the group finances its operations through a mixture of retained profits and bank borrowings. The group's exposure to interest rate fluctuations is negligible given its surplus of cash.

Credit risk

Exposure to credit risk is limited as the majority of income is derived from direct customer transactions.

KEY PERFORMANCE INDICATORS

The company's key performance indicators are gross profit and profit after tax.

Gross profit for the year has increased to £6,824,596 (2024: £7,062,041) a decrease of £237,445 from 2024.

Gross profit margin for the year is at 82% (2024: 81%)

Profit after tax for the year was £396,251 (2024: £363,794) an increase of £32,457 from previous year.

Despite reduced turnover, margins improved and profit after tax increased by £32,457, demonstrating operational efficiency.

Non- financial KPI's include customer attendance/visitor numbers, customer satisfaction and reviews.

ENVIRONMENTAL IMPACT

The group is making continued efforts to reduce it's carbon footprint and is dedicated to recycling all recyclable materials.

FUTURE PLANS

The group are looking to develop the land at the former Llandudno Pier Pavilion which is adjacent to Llandudno Pier. The group is also looking towards 2027 as a big year for Llandudno Pier, which will be celebrating its 150th anniversary as well as other important anniversaries in the local town, all of which should contribute towards an increase in activity, and hopefully, in trade. The group are also looking forward to future opportunities that will arise from the purchase of the Tir Prince site. The group look forward to sending attractions round the country again in the coming year.

ON BEHALF OF THE BOARD:

Mr A J Williams - Director

25 November 2025

The directors present their report with the financial statements of the company and the group for the year ended 28 February 2025.

PRINCIPAL ACTIVITIES

The principal activities of the group in the year under review were those of the operation of amusement parks, arcades, sports facilities and other amusement and recreation activities.

DIVIDENDS

An interim dividend of £1,000 per share was paid on the B Ordinary £1 shares on 31 March 2024. No dividend were paid on the Ordinary £1 shares.

The total distribution of dividend for the year ended 28 February 2025 will be £2,000.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 March 2024 to the date of this report.

Mr A J Williams

Mrs A Williams

EMPLOYEES

The company recognises the benefit of keeping employees informed of the progress of the business and of involving them in the company's performance and accordingly maintains regular communications with employees.

Disabled Employees

The company gives full consideration to applications for employment from disabled persons where requirements of the job can be adequately fulfilled by a disabled person.

Where existing employees become disabled it is the company's policy wherever practicable to provide continuing employment under normal terms and conditions to provide training and career development and promotion wherever appropriate.

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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;

-	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.

AUDITORS

The auditors, Salisbury & Company Business Solutions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr A J Williams - Director

25 November 2025

Opinion

We have audited the financial statements of Tir Prince Raceway Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28 February 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 28 February 2025 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 four, 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. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned in accordance with ISA (UK).

We obtained an understanding of the legal and regulatory frameworks applicable to the group and the industry in which it operates through our general commercial and sector experience and discussions with management. We determined that the following laws and regulations were most significant: The Companies Act 2006, FRS 102 the 'Financial Reporting Standards applicable in the UK and Republic of Ireland' and relevant UK tax legislation. In addition, we concluded that there are certain laws and regulations that may have an effect on the determination of the amounts and disclosures within the financial statements such as Health and Safety laws and regulations.

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:

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations or fraud;

- Obtaining an understanding of the internal controls that management have in place to prevent and detect fraud;

- Challenging assumptions and judgements made by management in its significant accounting estimates;

- Reviewing the financial statement disclosures and assessing the appropriateness of the accounting policies used;

- Identifying and testing journal entries, in particular manual or unusual entries;

- Obtaining third party confirmations of all the companies banking arrangements;

- Performing analytical procedures to identify any unusual or unexpected relationships;

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting.

The assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team's knowledge of the industry in which the client operates in and understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

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

Use of our report

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

Aled Roberts FCA (Senior Statutory Auditor)

for and on behalf of Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

25 November 2025

TURNOVER

8,284,655

8,761,820

Cost of sales

(1,460,059

)

(1,699,779

)

GROSS PROFIT

6,824,596

7,062,041

Administrative expenses

(6,219,931

)

(6,164,268

)

604,665

897,773

Other operating income

437,403

195,064

OPERATING PROFIT

4

1,042,068

1,092,837

Interest receivable and similar income

-

108

1,042,068

1,092,945

Interest payable and similar expenses

5

(483,058

)

(406,085

)

PROFIT BEFORE TAXATION

559,010

686,860

Tax on profit

6

(162,759

)

(323,066

)

PROFIT FOR THE FINANCIAL YEAR

396,251

363,794

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

396,251

363,794

Profit attributable to:

Owners of the parent

396,251

363,794

Total comprehensive income attributable to:

Owners of the parent

396,251

363,794

FIXED ASSETS

Intangible assets

9

157,258

168,683

Tangible assets

10

16,186,428

16,225,020

Investments

11

-

-

Investment property

12

930,000

725,000

17,273,686

17,118,703

CURRENT ASSETS

Stocks

13

69,108

117,792

Debtors

14

393,334

363,773

Cash at bank and in hand

441,717

376,690

904,159

858,255

CREDITORS

Amounts falling due within one year

15

3,192,723

3,438,641

NET CURRENT LIABILITIES

(2,288,564

)

(2,580,386

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,985,122

14,538,317

CREDITORS

Amounts falling due after more than one year

16

(4,467,815

)

(4,478,141

)

PROVISIONS FOR LIABILITIES

20

(807,892

)

(745,012

)

NET ASSETS

9,709,415

9,315,164

CAPITAL AND RESERVES

Called up share capital

21

102

102

Revaluation reserve

22

4,357,756

4,152,756

Retained earnings

22

5,351,557

5,162,306

SHAREHOLDERS' FUNDS

9,709,415

9,315,164

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2025 and were signed on its behalf by:

Mr A J Williams - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

7,606,757

7,722,674

Investments

11

402

402

Investment property

12

750,000

565,000

8,357,159

8,288,076

CURRENT ASSETS

Stocks

13

23,809

79,758

Debtors

14

1,607,042

1,462,569

Cash in hand

95,184

104,499

1,726,035

1,646,826

CREDITORS

Amounts falling due within one year

15

4,385,443

4,215,803

NET CURRENT LIABILITIES

(2,659,408

)

(2,568,977

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,697,751

5,719,099

CREDITORS

Amounts falling due after more than one year

16

(771,840

)

(875,755

)

PROVISIONS FOR LIABILITIES

20

(299,624

)

(299,353

)

NET ASSETS

4,626,287

4,543,991

CAPITAL AND RESERVES

Called up share capital

21

102

102

Revaluation reserve

22

273,742

88,742

Revaluation reserve

22

4,017,025

4,017,025

Retained earnings

22

335,418

438,122

SHAREHOLDERS' FUNDS

4,626,287

4,543,991

Company's profit/(loss) for the financial year

84,296

(238,216

)

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2025 and were signed on its behalf by:

Mr A J Williams - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 March 2023

102

5,014,243

4,017,025

9,031,370

Changes in equity

Dividends

-

(80,000

)

-

(80,000

)

Total comprehensive income

-

228,063

135,731

363,794

Balance at 29 February 2024

102

5,162,306

4,152,756

9,315,164

Changes in equity

Dividends

-

(2,000

)

-

(2,000

)

Total comprehensive income

-

191,251

205,000

396,251

Balance at 28 February 2025

102

5,351,557

4,357,756

9,709,415

Called up

share

Retained

Revaluation

Revaluation

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 March 2023

102

845,080

-

4,017,025

4,862,207

Changes in equity

Dividends

-

(80,000

)

-

-

(80,000

)

Total comprehensive income

-

(326,958

)

88,742

-

(238,216

)

Balance at 29 February 2024

102

438,122

88,742

4,017,025

4,543,991

Changes in equity

Dividends

-

(2,000

)

-

-

(2,000

)

Total comprehensive income

-

(100,704

)

185,000

-

84,296

Balance at 28 February 2025

102

335,418

273,742

4,017,025

4,626,287

Cash flows from operating activities

Cash generated from operations

1

1,896,833

1,852,809

Interest paid

(441,224

)

(383,349

)

Interest element of hire purchase payments paid

(41,834

)

(22,736

)

Tax paid

(196,089

)

(297,681

)

Net cash from operating activities

1,217,686

1,149,043

Cash flows from investing activities

Purchase of tangible fixed assets

(845,533

)

(1,070,918

)

Sale of tangible fixed assets

35,835

12,995

Interest received

-

108

Net cash from investing activities

(809,698

)

(1,057,815

)

Cash flows from financing activities

Loan repayments in year

(578,727

)

(564,123

)

Capital repayments in year

292,161

(49,184

)

Amount introduced by directors

203,635

40,000

Amount withdrawn by directors

(258,030

)

(206,313

)

Equity dividends paid

(2,000

)

(80,000

)

Net cash from financing activities

(342,961

)

(859,620

)

Increase/(decrease) in cash at bank

65,027

(768,392

)

Cash at bank at beginning of year

2

376,690

1,145,082

Cash at bank at end of year

2

441,717

376,690

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

2025

2024

£

£

Profit before taxation

559,010

686,860

Depreciation charges

869,753

832,488

(Profit)/loss on disposal of fixed assets

(10,038

)

98

Gain on revaluation of fixed assets

(205,000

)

-

Government grants

-

(1

)

Finance costs

483,058

406,085

Finance income

-

(108

)

1,696,783

1,925,422

Decrease/(increase) in stocks

48,684

(31,770

)

Increase in trade and other debtors

(29,562

)

(84,429

)

Increase in trade and other creditors

180,928

43,586

Cash generated from operations

1,896,833

1,852,809

2.	CASH AT BANK

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 28 February 2025

28/2/25

1/3/24

£

£

Cash at bank

441,717

376,690

Year ended 29 February 2024

29/2/24

1/3/23

£

£

Cash at bank

376,690

1,145,082

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/3/24

Cash flow

At 28/2/25

£

£

£

Net cash

Cash at bank and in hand

376,690

65,027

441,717

376,690

65,027

441,717

Debt

Finance leases

(246,885

)

(292,161

)

(539,046

)

Debts falling due within 1 year

(938,856

)

332,903

(605,953

)

Debts falling due after 1 year

(4,144,741

)

245,825

(3,898,916

)

(5,330,482

)

286,567

(5,043,915

)

Total

(4,953,792

)

351,594

(4,602,198

)

1.	STATUTORY INFORMATION

Tir Prince Raceway 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

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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Basis of preparing the company individual financial statements

The individual company financial statements have been prepared under Section 1A for small companies and 409 of the Companies Regime.

Basis of consolidation

The financial statements consolidate the accounts of Tir Prince Raceway Limited and all of its subsidiary undertakings. All intra-group transactions, balances, income and expenses are eliminated in full on consolidation.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover

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

Fairground income, market income and bar income is recognised in the period to which the income relates. Car park, arcade and other income is recognised on a daily basis when the income is received.

Funland and arcade income is recognised instantly when the income is received.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill

5 to 10 years straight line

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

10% on cost, 5% on cost and 2% on cost

Plant and machinery

-

33% on cost, 33% on reducing balance, 25% on cost, 20% on cost, 20% on reducing balance, 15% on cost, 15% on reducing balance, 5% on cost and Straight line over 15 years

Fixtures and fittings

-

50% on cost, 50% on reducing balance, 20% on reducing balance, 15% on reducing balance and 10% on cost

Motor vehicles

-

25% on reducing balance

Freehold property is held at cost and reviewed annually for impairment. Land in relation to freehold property is held at cost and not depreciated.