Company Registration No. 08670176 (England and Wales)
THAMES BOAT CRUISES & EVENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2021
Harrisons
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
THAMES BOAT CRUISES & EVENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
THAMES BOAT CRUISES & EVENTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Intangible assets
3
16,500
Tangible assets
4
239
453
239
16,953
Current assets
Debtors
5
48,154
22,268
Cash at bank and in hand
205,273
85,930
253,427
108,198
Creditors: amounts falling due within one year
6
(149,872)
(47,149)
Net current assets
103,555
61,049
Total assets less current liabilities
103,794
78,002
Creditors: amounts falling due after more than one year
7
(35,833)
(45,000)
Provisions for liabilities
(45)
(86)
Net assets
67,916
32,916
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
67,914
32,914
Total equity
67,916
32,916
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
THAMES BOAT CRUISES & EVENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2021
31 December 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 11 May 2022 and are signed on its behalf by:
Mr L S Barnard
Director
Company Registration No. 08670176
THAMES BOAT CRUISES & EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information
Thames Boat Cruises & Events Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Allington Close, Farnham, Surrey, GU9 9EJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 financial statements have been prepared under the historical cost convention.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 4 years.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Intellectual Property
25% straight line
Client Database
25% straight line
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Equipment
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
THAMES BOAT CRUISES & EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
1.7
Financial instruments
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
2
3
THAMES BOAT CRUISES & EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
3
Intangible fixed assets
Goodwill
Intellectual Property
Client Database
Total
£
£
£
£
Cost
At 1 January 2021 and 31 December 2021
58,500
4,000
3,500
66,000
Amortisation and impairment
At 1 January 2021
43,875
3,000
2,625
49,500
Amortisation charged for the year
14,625
1,000
875
16,500
At 31 December 2021
58,500
4,000
3,500
66,000
Carrying amount
At 31 December 2021
At 31 December 2020
14,625
1,000
875
16,500
4
Tangible fixed assets
Equipment
£
Cost
At 1 January 2021
5,159
Additions
358
At 31 December 2021
5,517
Depreciation and impairment
At 1 January 2021
4,706
Depreciation charged in the year
572
At 31 December 2021
5,278
Carrying amount
At 31 December 2021
239
At 31 December 2020
453
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
17,958
Other debtors
30,196
22,268
48,154
22,268
THAMES BOAT CRUISES & EVENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
6
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
10,000
5,000
Trade creditors
18,067
20,796
Taxation and social security
28,244
Other creditors
93,561
21,353
149,872
47,149
7
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
35,833
45,000
Creditors which fall due after five years are as follows:
2021
2020
£
£
Payable other than by instalments
-
5,000