BOURNE LEISURE GROUP LIMITED - Annual Accounts

Form: AA - Annual Accounts

FULL ACCOUNTS MADE UP TO 31/12/09

Filed on: 9 Sep 2010

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BOURNE LEISURE GROUP LIMITED
Report and FlI`l#.l'#Cl#.l Statements
## December ####
SATURDAY
q#{»/bf’
'AE#AON#L°
A## ##/##/#### ###
COMPANIES HOUSE

Bourne Leisure Group L#m#Ted
Registered No ######
DIRECTORS
P W Hams
J C Cook
R Seaton
D R Whltelam
J E Bentall
SECRETARY
D F Kmg
AUDITORS
Emst & Young LLP
I More London Place
London SEI #AF
BANKERS
Barclays Bank PLC
l Churchill Place
London E## Sl-IP
SOLICITORS
Slaughter and May
One Bunhill Row
London ECIY #YY
REGISTERED OFFICE
l Park Lane
Hemel Hempstead
Hertfordshire HP# #YL

Boume Leisure Group Limited
Registered No ######
DIRECTORS’ REPORT
The directors present their report and financial statements for the year ended ## December ####
RESULTS AND DIVIDENDS
The company’s profit for the year after tax amounted to £l#,###,### (#### - £l#,###,###, as restated)
The company paid a dividend of £# #,###,### m the year (#### - £##,###,###)
PRINCIPAL ACTIVITY AND REVIEW OF THE BUSINESS
The company trades as a caravan park operator and caravan vendor and as a central services company
The company’s key financial and other performance indicators during the year were as follows
#### #### Change
Rextaled
£### £### %
Turnover ###,### ##,### ## l
Operating profit/ (loss) #,### (#,###)
Profit on ordinary RCIIVIIICS before taxation ##,### ##,### ##.#
Profit after tax ##,### ##,### (# #)
Shareholders’ funds #,## l (###)
Average number of employees #,### #,### # #
Turnover increased by ## #% Operating profit was £#,###,### m #### and the operating loss in ####
was £#,###,### This was mainly because of increased tu mover m #### and the write off of investments
of £#,###,### in #### which did not recur in ####
Profit on ordinary activities before taxation increased by ## #% because the increase in operating profit
was partly offset by a reduction in income phi-OM shares in group undertakings
Guest loyalty and repeat business underpins the long term growth of the company The company
continues to sustain high guest satisfaction ratings.
Shareholders’ funds increased from (£###,###) to £#,###,### because of the profit realised for the year of
£l#,###,### less dividends paid of £# # ,###,###
In the fixture, the directors expect the business to show continued growth
PRINCIPAL RISKS AND UNCERTAINTIES
The company recognises a variety of financial and market based asks, including exposure to fluctuating
interest risks, changing economic conditions, technological and industry based risks, the competitive
environment and regulatory changes These either singularly or collectively, may affect revenue, cost
structure or the value of assets within the business, and are all difficult to quantify.
The main asks ans mg from the company’s financial instruments are liquidity and cash flow ask and
credit ask, and policies with respect to these risks are descended below There IS no currency exposure as
all material transactions and financial instruments are in sterling
#

Bourne Leisure Group Limited
Registered No ######
DIRECTORS’ REPORT
# Lrqurdrty and cash flow risk
Liquidity and cash flow ask is the risk that an entity will encounter difficulty in meeting obligations
associated with financial liabilities and exposure to variability in cash flows The company arms to
mitigate lrqurdrty and cash flow risk by managing its cash generation. The company also manages
lrqurdrty and cash flow ask by utilising its cash resources
# Credit risk
Credit risk is the ask that one party to a financial instrument will cause a financial loss for that other party
by falling to discharge an obligation Company policies are armed at mrnrmrsrng such losses, and require
that deferred terms are only granted to customers who demonstrate an appropriate payment history and
satisfy credit worthiness procedures
DIRECTORS
The present directors, all of whom served throughout the year, are listed on page #
EMPLOYEES
Employees are kept informed of the performance and objectives of the group through established methods
of briefing and consultations
The company gives disabled people full and fair consideration for all job vacancies for which they offer
themselves as suitable candidates having regard to their particular aptitudes and abrogates Trarnmg and
career development opportunities are available to all employees
DISCLOSURE OF INFORMATION TO THE AUDITORS
So far as each person who was a director at the date of approving this report is aware, there is no relevant
audit information, being patronymic nseeded by the auditor in connection with preparing its report, of
which the auditor is unaware Having made enquiries of fellow directors and the company’s auditor, each
director has taken all the steps that he/she is obliged to take as a director in order to make himself/herself
aware of any relevant audit patronymic aNd to establish that the auditor is aware of that rnfomratlon
By order of the board
\/;/-Q
D F King
Secretary
## April ####
#

Boume Leisure Group Limited
STATEMENT OF DIRECTORS’ RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance
with applicable law and regulations
Company law requires the directors to prepare financial statements for each financial year Under that law
the directors have elected to prepare the financial statements in accordance with United Kingdom
Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law)
Under company law the directors must not approve the financial statements unless they are satisfied that
they give a true and fair view of the state of affairs of the company and of the profit or loss of the
company for that period in preparing those financial statements, the directors are required to
# select suitable accounting policies and then apply them consistently,
O make Judgments and estimates that are reasonable and prudent,
# state whether applicable UK accounting standards have been followed, sub_sect to any material
departures disclosed and explained in the financial statements, and
# prepare the financial statements on the going concern basis unless rt is inappropriate to presume that
the company will continue in business
The directors are responsible for keeping proper accounting records that are sufficient to show and explain
the company’s transactions and disclose with reasonable accuracy at any time the financial positron of the
company and enable them to ensure that the financial statements comply with the Companies Act ####
They are also responsible for safeguarding the assets of the company and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities
#

INDEPENDENT AUDITORS' REPORT T# THE MEMBERS OF BOURNE LEISURE GROUP
LIMITED
We have audited the financial statements of Bourne Leisure Group Lrmrted for the year ended ##
December #### which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Total
Recognised Gains and Losses and the related notes # to ##. The financial reporting framework that has
been applied m their preparation IS applicable law and United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practice)
This report is made solely to the company's members, as a body, in accordance with Chapter # of Part ##
of the Companies Act #### Our audit work has been undertaken so that we might state to the company's
members those matters we are required to state to them in an auditors' report and for no other PW-pose 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
Respective responsibilities of directors and auditors
As explained more fully in the Statement of DI#’€CIOI'S' Responsibilities set out on page #, the directors are
responsible for the preparation of the financial statements and for being satisfied that they give a true and
fair view Our responsibility is to audit the financial statements in accordance with applicable law and
Intematronal Standards on Audrtmg (UK and Ireland) Those standards require us to comply with the
Auditing Practices Board’s (APB’s) Ethical Standards for Auditors
Scope of the audit of the financial statements
An audit involves obtainer evidence about the amounts and disclosures in the financial statements
sufficient to give reasonable assurance that the financial statements are free from material misstatement,
whether caused by fraud or error This includes an assessment of whether the accounting policies are
appropriate to the company's circumstances and have been consistently applied and adequately disclosed,
the reasonableness of significant accounting estimates made by the directors, and the overall presentation
of the financial statements
Opinion on the Iinancral statements
In our opinion the financial statements
I give a true and fair view of the state of the company's affairs as at ## December #### and of
its profit for the year then ended,
I have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and
I have been prepared in accordance with the requirements of the Companies Act ####
Oprnron on the matter prescribed by the Companies Act ####
In our opinion the malformation given in the Directors’ Report for the financial year for which the financial
statements are prepared is consistent with the financial statements
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act #### requires us
to report to you if, in out' opinion
I adequate accounting records have not been kept by the company, or rectums adequate for our
audit have not yet been received from branches not started by us, or
I the financial statements are not in agreement with the accounting records and rectums, or
I codename disclosures of directors’ remuneration specified by law are not made, or
I we have not received all the information and explanations we require for our audit
Mk ' ix.
Richard Munay (Senior Statutory Auditor)
for and on behalf of Emst & Young LLP, Statutory Auditor
London
## Apnl ####
#

Boume Leisure Group Limited
PROFIT AND LOSS ACCOUNT
for the year ended ## December ####
#### ####
Restated
Norm £### £###
TURNOVER # ###,### ##,###
Cost of sales (##,###) (##,###)
GROSS PROFIT ##,### ##,###
Administrative expenses (##,###) (##,###)
Amounts written off' investments - (#,###)
OPERATING PROFIT / (LOSS) # #,### (#,###)
Profit on disposal of operations - ###
Income from shares in group undertakings # I #,### ##,###
PROFIT ON ORDINARY ACTIVITIES BEFORE INTEREST i#,### ##,###
Interest receivable # ### ###
Interest payable # (###) (# ##)
PROFIT ON ORDINARY A(TI`IVI'I`IES BEFORE TAXATION l#,### i#,###
Tax (charge) / credit on profit on ordinary activities # (#,###) #,###
PROFIT FOR THE FINANCIAL YEAR ## ##,### ##,###
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
for the year ended ## December ####
#### ####
Restated
£### £###
PROFIT RETAINED FOR THE FINANCIAL YEAR ##,### ##,###
TOTAL RECOGNISED GAINS AND LOSSES RELATING TO THE YEAR ##,### ##,###
Prior year adjustment (note #) (#,###)
TOTAL GAINS AND LOSSES RECOGNISED SINCE LAST ANNUAL ##,###
REPORT
All of the company’s activities are regarded as contumacy
The notes on pages # to ## form part of these financial statements.
#

Boume Leisure Group Limited
BALANCE SHEET
at ## December ####
#### ####
Rnlaied
Nara £### £###
FIXED ASSETS
Tangible assets # ###,### ###,###
Investments In subsidiary undertakings # ##,### ##,###
###,### ###,###
CURRENT ASSETS
Stocks #,### #,###
Debtors ## ##,### ##,# ##
Cash at bank and In hand ###,### ##,###
###,### ##,###
CREDITORS amounts falling due within one year # I (###,###) (###,###)
NET CURRENT LIABILITIES (# # ,# ##) (##,###)
TOTAL ASSETS LESS CURRENT LIABILITIES ##,### ##,###
CREDITORS' amounts falling due after more than one year I# (#,###) (#,###)
PROVISION FOR LIABILITIES AND CHARGES ## (#,###) (#,###)
DEFERRED INCOME # (# L###) (##,###)
#,### (###)
CAPITAL AND RESERVES
Called up share capital ## ## ##
Profit and loss account ## #,### (###)
EQUITY SHAREHOLDERS’ FUNDS #,## # (###)
Approved by the Board of Directors on ## April ####
D R Whrtelam
Director
The notes on pages # to ## fonn part of these financial statements
#

Boume Leisure Group Limited
NOTES TO THE FINANCIAL STATEMENTS
at ## December ####
ACCOUNTING POLICIES
Accounting convention
The financial statements are prepared under the historical cost convention and In accordance with
applicable United Kingdom accounting standards
Change in accounting policy
The directors have considered recent developments In financial reporting regulations and have changed
t#Ie accounting policy for advertising and promotional HCIIVIIISS by recognisances expenditure as an expense
when the company receives the service rather than defence a proportion of these costs
Thrs change In accounting policy has resulted In a prior year adjustment for the company Prepayments at
# January #### have been reduced by £l,###,### resulting In a reduction In reserves of the same amount
The profit for the year ended ## December #### has been reduced by £###,### Profit for the current
year has Increased by £## #,### as a result In the change In accounting policy
Going concern
The financial statements are prepared under the going concept basis The directors believe this IS
appropriate as the company’s ultimate parent undertaking, Boume L€ls#.ll'e Holdlngs Lrmrted, has given an
undertaking to provide such support as IS necessary In the foreseeable future to enable the company to
meet IIS IIRDIIIIICS as they fall due
Grnupjtnancial statements
The company has not presented consolidated f`manciple statements as these are included m the financial
statements of the ultimate parent undertaking (see note ##) Accordrngly, the financial statements present
information regarding the company as an Individual undertaking and not as a group
Cash /low statement
The company has taken advantage of the exemption conferred by F Inancral Reporting Standard #
(Revrsed) from presenting a cash flow statement as over ##% of the voting rights are controlled by the UK
parent undertaking
Related party transactions
The company has taken advantage of the exemption allowed by Financial Reportrng Standard # and has
not disclosed any related party transactions with entities of the group
Leasing commitments
Rentals paid Imder operating leases are charged to Income on a straight-line basis over the time of the
lease
Stocks
Stocks of caravans and other goods for resale are stated at the lower of cost and net realisable value Cost
Includes all costs IncIIrred In bnngmg each product to IIS present location and condition Net realisable
value IS based on estimated seining price less any further costs on disposal
Investments
Investments In subsidiarity are included m the balance sheet of the company at the cost at the date of
acquisition Provrsron IS made where, m the opinion of the directors, there has been pennant dImunition
In the carrying value of any Investment.
Revenue recognition
Revenue IS recognised to the extent that the company obtains the night to consideration In exchange for IIS
performance Revenue represents the amounts vended from the provision of goods and services which
fall within the company‘s ordinary HCIIVIIICS, stated net of VAT
#

Bourne Leisure Group Limited
NOTES TO THE FINANCIAL STATEMENTS
at ## December ####
ACCOUNTING POLICIES (continued)
Depreciation
Propertres
No depreciation IS provided on freehold Iarrd
Freehold Burlingame are depreciated on a straight line basis over a period of between ## years and ## years,
or remarriage life If less Other leasehold properties are depreciated over the lesser of between ## years
and ## years, their useful life or the term of the lease
Other
Deprecratron IS calculated to write off the cost of the assets over thier expected useful lives by equal
annual Instalments, principally at the following rates
Long life plant and machinery - ## years
Vehrcles - # years
Plant and equipment - # years
Computer equipment - # years
Caravans for hire are depreciated by equal armful amounts to their estimated value at the date on which
they are due for replacement
The carrying values of tangible fixed assets are reviewed for Imparrment If events or changes In
circumstances Indlcate the carrying value may not be recoverable
Dderred taxation
Deferred tax IS recognised m respect of all timing differences that have originated but not reversed at the
balance sheet date where transactions or events have occurred at that date that will result In an obligation
to pay more, or a night to pay less or to receive more, tax, with the following exceptions
# provision IS made for tax on gains arising from the revaluation (and similar fair value
adjustments) of' fixed assets, and gains on disposal of fixed assets that have been rolled over
Into replacement assets, only to the extent that, at the balance sheet date, there IS a bin Ding
agreement to dispose of the assets conceded However, no pro Vision IS made where, on the
basis of all available evidence at the balance sheet date, It IS more likely than not that the
taxable gain will be rolled over Into replacement assets and charged to tax only where the
replacement assets are sold,
# deferred tax assets are recognised only to the extent that the directors consider that II IS
more likely than not that there will be suitable taxable profits from which the future reversal
of the underlying trimmimg differences can be deducted
Deferred tax IS measured on an unaccounted bbasis at the tax rates that are expected to apply In the penology
m which timing doff`inferences reverse, based on tax rates and laws enacted or substantively enacted at the
balance sheet date
Deferred income
Income Invorced or cash received for site fees, holidays and other goods and services relating to future
penology IS Included within deferred Income.
Pension costs
Pension contributions are made to defined contribution schemes These contributions are charged to the
profit and loss account as they are Incurred
TURNOVER
Turnover IS stated net of value added tax and represents amounts Invorced for goods aid sservices provided
during t#Ie year
Turnover IS attributable to one continuum activity, that of caravan park operators and vendors, all
performed In the United Kingdom
#

Bourne Leisure Group Limited
NOTES TO THE FINANCIAL STATEMENTS
at ## December ####
OPERATING PROFIT
Thrs IS stated hare charging
####
£###
Depreciation of tangible fixed assets #,###
Operating lease rentals - land and bulldogs ###
Audrtors’ remuneration ##
AIIIOUIIIS WTIUSII of`f ilia€St\'l'#€I#ls -
Directors’ remuneration has been born by other group companies
STAFF COSTS
####
£###
Wages and salaries ##,###
Soclal security costs #,###
Other pension costs ##
##,###
The average weekly number of employees, excluding directors, during the year was as follows
####
No
AdmInIstratIon and sales ###
Site operatives ###
#,###
INCOME FROM SHARES IN GROUP UNDERTAKINGS
####
£###
Drvldends received # #,###
####
£###
#,###
sea
##
#,###
####
£###
##,###
#, I ##
##
##,###
####
No
###
###
#,###
####
£###
##,## I
##

Boume Leisure Group Limited
NOTES TO THE FINANCIAL STATEMENTS
at ## December ####
INTEREST
Other Interest receivable
Other Interest payable - on deferred consideration
TAXATION
a) Tax charge / (credit) on profit on ordinary HCIIVIIICS
Current taxation
Corporatron tax on the profit for the year
Adjustment In respect of previous years
Deferred taxation
Or#imagination and reversal of timing d If`deferences (see note ##)
Tax charge / (credit) on profit on ordinary activities
b) Factors affecting current tax charge
####
£###
###
###
####
£###
#,###
(###)
#,###
###
#,###
The tax assessed on the profit on ordinary ZCIIVIIICS for the year IS different from the s
corporation tax In the UK of ##% (#### - ## #%) The differences are reconciled below
UK corporation tax rate
Drvrdends
Amounts written off Investments
Permanent differences - disallowed expenses
Decelerated capital allowances
Rollover relief on disposal of fixed assets
Chargeable gains less than profit on disposal
Adjustment in respect of previous years
Others
Effectrve tax rate
c) Factors affecting future tax charge
####
%
###
(## #)
##
# #
(##)
(##)
##
####
£###
###
###
####
£###
#,## I
(#,###)
(#,###)
(###)
(#,###)
standard rate of
####
Restated
%
###
(###)
###
##
##
(# #)
(##)
(###)
##
##
(###)
II

Boume Leisure Group Limited
NOTES TO THE FINANCIAL STATEMENTS
at ## December ####
There are no major factors affecting fixture charges to tax
TANGIBLE FIXED ASSETS
Cost
At # January ####
Additions
Drsposals
At ## December ####
Deprecratton
At I January ####
Reclassrficatron
Provided during the year
Drsposals
At ## December ####
Net book value
At ## December ####
At ## December ####
Lanrl and bulldogs Ccaravans,
Long Short plant and
Freehold leasehold leasehold equipment Total
£### £### £### £### £###
##,### ##,### ##,### ##,### ###,###
#,### ### ### #,### ##,###
- - - (#,###) (#,###)
##,### ##,### ##,### ##,### ###,###
##,### #,### #,### ##,### ##,###
(#,###) (##) (#,###) #,### _
#,### ### ### #,### #,###
- - - (#,###) (#,###)
##,### #,### #,### ##,### ##,###
##,### I #,### # #,### ##,### ###,###
##,### ##,### #,### ##,### ###,###
##

Boume Leisure Group Limited
NOTES TO THE FINANCIAL STATEMENTS
at ## December ####
INVESTMENTS IN SUBSIDIARIES
#### ####
£### £###
Cost of Investments
At # January ##,### ##,###
Provrded during the year - (#,###)
##,### ##,###
The company holds Investments In the shares of the following subsidiary undertakings, all of which are
wholly owned, Incorporated In Great BrIta#n and registered In England and Wales except where Indrcated
Subsldlary
Berwick Holrday Centre L#meted
Boume Le#sure(I-Iopton) L#m#Ted
Bridge Street (Nomlnees) L#m#Ted
Greenacres Holrday Park LImIted
Guardian Shreld Insurance LIm#Ted (#l'#COI'join'#I¢d In Guemsey)
Haggerston Castle L#m#Ted
Lakeland Holrday Park L#meted
Leisure Employment Servrces Llmlted
K#in Park Estates LIm#Ted
Rockley Sands (Estates) L#m#Ted
Seton Sands Holrday Centre L#m#Ted (registered In Scotlartd)
Far Grange Park and Golf Club L#m#Ted
SLC (Bourne) Limited
B L (Brrtrsh Holrdays) Limited
Acttvmes
Caravan Park Operator
Caravan Park Operator
Nomrnee Company
Caravan Park Operator
Insurance Company
Caravan Park Operator
Caravan Park Operator
Employment services
Caravan Park Operator
Caravan Park Operator
Caravan Park Operator
Caravan Park Operator
Dormant
Dormant
The £# #m provided during #### relates to a d#v#send received from Far Grange Park and Golf Club
Llmlted which mainly related to profits generated prior to the acquisition of that company
##

Boume Leisure Group Limited
NOTES TO THE FINANCIAL STATEMENTS
at ## December ####
DE BTORS
####
£###
Trade debtors #,###
Other debtors at#d prepayments #,###
# #,###
CREDITORS: amounts falling due with#n one year
####
£###
Trade creditors #,###
Amounts owed to group undertakings ###,###
Corporatron tax #,###
Other taxes and social security ##,###
Deferred consideration #,###
Other creditors and accruals ##,###
###,###
####
Rmtated
£###
#,###
#,###
##,###
####
£###
#,###
###,###
###
##,###
#,###
##,###
###,###
Deferred consideration relates to the acquisition#on of Far Grange Park and Golf Club Lrmrted In .February
#### and IS repayable In monthly Instalments over five years.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
####
£###
Deferred consideration #,###
####
£###
#,###
Deferred consideration due after more than one year relates to the acquit#sit#on of Far Grange Park and Golf
Club Limrted in January #### and is repayable m monthly Instalments over five years.
##

Boume Leisure Group Limited
NOTES TO THE FINANCIAL STATEMENTS
at ## December ####
PROVISION FOR LIABILITIES AND CHARGES
At # January ####
Anslng dung the year
At ## December ####
The deferred tax provided at ##% (#### - ##%) IS as follows
####
£###
Accelerated capital allowances #,###
Deferred
taxation
£###
#,###
# # #
#,###
####
£###
#,###
No pro Vis#on has been made for deferred tax on the sale of assets where potentially taxable Ga#ms have
been rolled over into replacement assets Such tax would become payable only If the replacement assets
were sold without II being possible to claim roll-over relief The total amount unprovoked for IS
$##,###,### (#### - £#,###,###)
SHARE CAPITAL
Allotted, called up
AuthorLI'ed and fulfilled
#### #### #### ####
£### £### £### £###
‘A’ ordinary shares of £# each ## ## ## ##
‘B’ ordinary shares of£# each ## I# # #
### ### ## ##
‘B’ ordinary shares do not have any voting rights. Holders of the ‘B’ shares are entitled to d Iv#send
dirts#but Ions at the discretion of the directors after the directors have first considered payments of
d Iv#sends to t#e holders of ‘A‘ ordinary shares and are only entitled to £# each (par value) In t#e event of
wind#mg up.
##

Boume Leisure Group Limited
NOTES TO THE FINANCIAL STATEMENTS
at ## December ####
RECONCILIATION OF SHAREHOLDERS’ FUNDS AND MOVEMENT ON RESERVES
Total
Share Profit and shareholders’
capital loss account fund
£### £### £###
At # January #### ## #,### #,###
Prror year adjustment (Note #) - (#,###) (#,###)
As restated ## #,### #,###
Profit for t#Ie year
As previously reported - ##,### ##,###
Prror year adjustment (Note #) - (###) (###)
Drvrdends - (##,###) (##,###)
At ## December #### as restated ## (###) (###)
Profit for t#e year - ##,### ##,###
Drvrdends - (# #,###) (I #,###)
At ## December #### ## #,### #,## #
CAPITAL COMMITMENTS
#### ####
£### £###
Amounts contracted but not Incurred at year end #,### #,###
PENSION COMMITMENTS
The group operates a defined contribution pension scheme for certain directors and employees and in
addition has made available to all employees a stakeholder defined contributions scheme The assets of
the scheme are held separately from those of the group In an Independently administered find
##

Boume Leisure Group Limited
NOTES TO THE FINANCIAL STATEMENTS
at ## December ####
OTHER FINANCIAL COMMITMENTS
At ## December #### t##e company had annual commitments under non-cancellate ooperate leases as
set out below
####
£###
Land and buildings
Operating leases whirl\ expire within one year ##
Operating leases which expire between two and five years -
Operating leases which expire In over five years ###
###
CONTINGENT LIABILITIES
####
£###
##
###
###
The group has a cont#gent llabelled to Its bankers under letters of credit for £#,###,### (#### -
£#,###,###)
ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY
The company’s Immedrate parent undertaking IS Colalngrove LImIted, a company Incorporated m Great
Brrtam
The company’s ultimate parent undertaking and controlling party IS Boume Lersure Holdrngs L#m#Ted, a
company registered In England and Wales
Copres of the group financial statements, which Include this company, are available from # Park Lane,
Hemel Hempstead, Hertfordshire, HP# #YL
##