Pinelodge Holidays Limited

Pinelodge Holidays Limited owns and operates Pinelodges which are held as fixed assets and are let for holiday purposes. There are two holiday letting parks, Darwin Forest and Sandybrook. In order to fund the capital requirements vital for expansion of the holiday letting business, the directors have pursued a policy under which, from time to time, a proportion of the holiday letting Pinelodges are sold as investments to private owners who then employ Pinelodge Holidays Limited to let and operate the Pinelodges on their behalf. On occasions, private owners pay Pinelodge Holidays Limited to upgrade their Pinelodges. Profits have been achieved on sales of Pinelodges, some of which had previously been held as fixed assets, and on the resale of Pinelodges taken in part exchange. When opportunities arise, and it is considered expedient to do so, Pinelodge Holidays Limited will buy lodges back from private owners.