REGISTERED NUMBER: 04990975 (England and Wales)

Delta Caravans Holdings Limited

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 28th February 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Statement of Comprehensive Income

8

Consolidated Balance Sheet

9

Company Balance Sheet

10

Consolidated Statement of Changes in Equity

11

Company Statement of Changes in Equity

12

Consolidated Cash Flow Statement

13

Notes to the Consolidated Cash Flow Statement

14

Notes to the Consolidated Financial Statements

15

DIRECTORS:

Dr M Isaac

J Isaac

SECRETARY:

J Isaac

REGISTERED OFFICE:

240 Leads Road

Hull

East Yorkshire

HU7 0DF

REGISTERED NUMBER:

04990975 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

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

REVIEW OF BUSINESS

During the year, the group experienced a 24% lower turnover compared to the previous year.

These results followed on from significant reported profits in FY2022 and FY2023 following a surge in demand for static caravans post COVID. During FY2024 trading conditions became more challenging as it became evident the industry had built up significant levels of unsold stock at the end user level leading to a significant slowing up of demand within the manufacturing sector for static caravan products that has been further affected by wider economic concerns for consumers around inflation and higher interest rates in the wider economy.

Notwithstanding this, the company remains strongly solvent and well positioned in its market.

PRINCIPAL RISKS AND UNCERTAINTIES

Competition risk

The UK caravan market is highly competitive with a number of established manufacturers. The changing economic environment influences the end consumer demand. The group manages this through close relationships with key customers, remaining aware of and responding to changes in market demand, and continuing to develop a portfolio of desirable customer offerings and competitive price points.

Supply chain

The group works closely with a number of key suppliers to manage supply chain risk. Recent higher than anticipated levels of inflation have put pressure on supply side pricing which the group has sought to manage through its established relationships with its supplier base as well as efficient production strategies.

Financial risk

The group is exposed to financial risks in respect of some commodity driven pricing as well as some foreign exchange and interest rate risk. The group seeks to manage this risk through contractual supply arrangements to provide an element of fixed pricing to enable future forecasting and profit stability.

KEY PERFORMANCE INDICATORS

The key performance indicators are sales and gross profit margin, which are evident from the financial statements.

ON BEHALF OF THE BOARD:

Dr M Isaac - Director

27th November 2025

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the manufacture and sale of caravans.

DIVIDENDS

Interim dividends of £165,004 (2024: £168,338) were paid in respect of the year ended 28th February 2024. The directors do not recommend a final dividend.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

Dr M Isaac

J Isaac

QUALIFYING THIRD PARTY INDEMNITY PROVISION

The company has made qualifying third party indemnity provisions for the benefit of its directors as part of a group wide policy which were made in the year and remain in force at the reporting date.

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;

-	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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Smailes Goldie, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Dr M Isaac - Director

27th November 2025

Opinion

We have audited the financial statements of Delta Caravans Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28th 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 28th February 2025 and of the group's loss 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 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 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including United Kingdom accounting standards (FRS102), the Companies Act 2006, tax legislation. We have also considered these laws and regulations that we consider may have an indirect material effect on the financial statements, including data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries to identify unusual transactions;

-

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-

investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

reviewing correspondence with relevant regulators and the company's legal advisor; and

-

enquiring of management as to actual and potential litigation and claims.

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.

Matthew Fox FCCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

27th November 2025

TURNOVER

3

15,120,897

19,983,430

Cost of sales

13,911,547

15,806,301

GROSS PROFIT

1,209,350

4,177,129

Administrative expenses

2,296,047

2,754,399

(1,086,697

)

1,422,730

Other operating income

359,342

244,783

OPERATING (LOSS)/PROFIT

5

(727,355

)

1,667,513

Interest payable and similar expenses

6

17,746

8,094

(LOSS)/PROFIT BEFORE TAXATION

(745,101

)

1,659,419

Tax on (loss)/profit

7

(180,217

)

446,663

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(564,884

)

1,212,756

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

3,710,908

3,851,027

Investments

12

7,652,679

5,293,337

11,363,587

9,144,364

CURRENT ASSETS

Stocks

13

5,218,618

6,599,611

Debtors

14

4,430,785

3,794,445

Cash at bank and in hand

4,951,979

6,168,076

14,601,382

16,562,132

CREDITORS

Amounts falling due within one year

15

4,092,769

3,086,172

NET CURRENT ASSETS

10,508,613

13,475,960

TOTAL ASSETS LESS CURRENT LIABILITIES

21,872,200

22,620,324

PROVISIONS FOR LIABILITIES

17

214,795

233,031

NET ASSETS

21,657,405

22,387,293

CAPITAL AND RESERVES

Called up share capital

18

150,000

150,000

Revaluation reserve

19

350,000

350,000

Retained earnings

19

21,157,405

21,887,293

SHAREHOLDERS' FUNDS

21,657,405

22,387,293

The financial statements were approved by the Board of Directors and authorised for issue on 27th November 2025 and were signed on its behalf by:

Dr M Isaac - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

3,710,908

3,851,027

Investments

12

12,128,425

9,769,083

15,839,333

13,620,110

CURRENT ASSETS

Debtors

14

1,144,722

3,265,288

Cash at bank

443,875

864,470

1,588,597

4,129,758

CREDITORS

Amounts falling due within one year

15

103,616

202,311

NET CURRENT ASSETS

1,484,981

3,927,447

TOTAL ASSETS LESS CURRENT LIABILITIES

17,324,314

17,547,557

PROVISIONS FOR LIABILITIES

17

104,795

123,031

NET ASSETS

17,219,519

17,424,526

CAPITAL AND RESERVES

Called up share capital

18

150,000

150,000

Revaluation reserve

19

350,000

350,000

Retained earnings

19

16,719,519

16,924,526

SHAREHOLDERS' FUNDS

17,219,519

17,424,526

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

(40,003

)

303,670

The financial statements were approved by the Board of Directors and authorised for issue on 27th November 2025 and were signed on its behalf by:

Dr M Isaac - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st March 2023

150,000

20,842,875

350,000

21,342,875

Changes in equity

Dividends

-

(168,338

)

-

(168,338

)

Total comprehensive income

-

1,212,756

-

1,212,756

Balance at 29th February 2024

150,000

21,887,293

350,000

22,387,293

Changes in equity

Dividends

-

(165,004

)

-

(165,004

)

Total comprehensive income

-

(564,884

)

-

(564,884

)

Balance at 28th February 2025

150,000

21,157,405

350,000

21,657,405

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st March 2023

150,000

16,789,194

350,000

17,289,194

Changes in equity

Dividends

-

(168,338

)

-

(168,338

)

Total comprehensive income

-

303,670

-

303,670

Balance at 29th February 2024

150,000

16,924,526

350,000

17,424,526

Changes in equity

Dividends

-

(165,004

)

-

(165,004

)

Total comprehensive income

-

(40,003

)

-

(40,003

)

Balance at 28th February 2025

150,000

16,719,519

350,000

17,219,519

Cash flows from operating activities

Cash generated from operations

1

1,328,010

1,573,721

Interest paid

(17,746

)

(72,476

)

Tax paid

(333,550

)

(1,219,052

)

Net cash from operating activities

976,714

282,193

Cash flows from investing activities

Purchase of tangible fixed assets

(27,807

)

(133,073

)

Purchase of fixed asset investments

(2,000,000

)

-

Net cash from investing activities

(2,027,807

)

(133,073

)

Cash flows from financing activities

Equity dividends paid

(165,004

)

(168,338

)

Net cash from financing activities

(165,004

)

(168,338

)

Decrease in cash and cash equivalents

(1,216,097

)

(19,218

)

Cash and cash equivalents at beginning of year

2

6,168,076

6,187,294

Cash and cash equivalents at end of year

2

4,951,979

6,168,076

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

(Loss)/profit before taxation

(745,101

)

1,659,419

Depreciation charges

167,926

342,567

Investment income

(359,342

)

(228,955

)

Finance costs

17,746

8,094

(918,771

)

1,781,125

Decrease/(increase) in stocks

1,380,993

(1,307,419

)

(Increase)/decrease in trade and other debtors

(140,809

)

4,525,253

Increase/(decrease) in trade and other creditors

1,006,597

(3,425,238

)

Cash generated from operations

1,328,010

1,573,721

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 28th February 2025

28.2.25

1.3.24

£

£

Cash and cash equivalents

4,951,979

6,168,076

Year ended 29th February 2024

29.2.24

1.3.23

£

£

Cash and cash equivalents

6,168,076

6,191,024

Bank overdrafts

-

(3,730

)

6,168,076

6,187,294

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.24

Cash flow

At 28.2.25

£

£

£

Net cash

Cash at bank and in hand

6,168,076

(1,216,097

)

4,951,979

6,168,076

(1,216,097

)

4,951,979

Total

6,168,076

(1,216,097

)

4,951,979

1.	STATUTORY INFORMATION

Delta Caravans 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

General information and basis of preparing the financial statements

Delta Caravans Holdings Limited is a limited company incorporated in the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard FRS 102: The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

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 £.

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

Going concern

In considering going concern the Director's have reviewed the group's future cash requirements, expected earnings and significant cash reserves. The directors have also considered the impact of a range of potential changes to trading performance as a result of economic and market challenges. The directors concluded that the group will be able to operate without the requirement for external finance for the 12 month period from the approval of these financial statements and therefore believe it is appropriate to prepare the financial statements of the group on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions

The group has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirement of paragraph 33.7.

Basis of consolidation

The consolidation accounts include the accounts of the company and its subsidiary undertakings to the group financial year end at 29 February 2024. The consolidated profit and loss account includes the results of its subsidiary undertakings from the date of acquisition.

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 is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for recognition of turnover are as follows:

Sale of goods

Turnover from the manufacture and sale of caravans is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Goodwill

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

25% on cost and 15% on cost

Fixtures and fittings

-

25% on cost and 10% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Stock and work in progress is stated at the lower of cost and net realisable value. Cost represents that expenditure which has been incurred in the normal course of business in bringing the product or service to its present location and condition. In the case of raw materials cost means purchase price including transport and handling costs, less trade discounts, calculated on a first in first out basis. In the case of work in progress and finished goods, cost consists of direct materials, direct labour and attributable production and other overheads based on normal levels of activity. Net realisable value means estimated selling price less all further costs to completion and all costs to be incurred in marketing, selling and distribution.

Financial assets

Financial assets and financial liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.

Financial assets and financial liabilities are initially measured at fair value, except for trade receivables that do not have a significant financing component which are measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.

Financial liabilities and equity

Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Pension costs and other post-retirement benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably measured.

3.

TURNOVER

The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Sale of caravans

15,120,897

19,983,430

15,120,897

19,983,430

The turnover and profit on ordinary activities before taxation were wholly attributable to the company's principal activity. The directors do not wish to provide a geographical analysis of turnover.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,140,851

4,148,617

Social security costs

303,975

360,734

Other pension costs

125,763

136,699

3,570,589

4,646,050

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

2025

2024

Management and administration

15

15

Production

90

131

105

146

The average number of employees by undertakings that were proportionately consolidated during the year was 105 (2024 - 146 ) .

2025

2024

£

£

Directors' remuneration

156,619

180,773

Directors' pension contributions to money purchase schemes

60,000

53,333

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

Defined benefit schemes

2

2

5.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging:

2025

2024

£

£

Depreciation - owned assets

167,926

195,196

Goodwill amortisation

-

147,371

Auditors' remuneration

25,705

27,090

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

-

500

Bank loan interest

8,421

7,594

Other interest

9,325

-

17,746

8,094