The company also operates Kinghorn Harbour Holiday park.

The Courier reported that newly logged accounts show that the business recorded sales of £5.1 million for the year ending February 28, a fall from £5.7m last year.

The firm also saw pre-tax profits fall from £1.1m to £812,000 last year.

Alan Wallace, director, said: “We would be very reluctant to attribute the slight drop in revenues to anything specific, although obviously Brexit uncertainty is affecting everything and consumer confidence is lower for everyone than we would like.”

“Having recently acquired our VisitScotland four-star status for the Bay Hotel and refurbished out Horizons Restaurant and Waterfront Bar we are in a very healthy position for a future upturn.”