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REGISTERED NUMBER: 03922569






Unaudited Financial Statements

for the Year Ended 28th February 2023

for

WELSH CANAL HOLIDAY CRAFT LIMITED

WELSH CANAL HOLIDAY CRAFT LIMITED (REGISTERED NUMBER: 03922569)






Contents of the Financial Statements
for the Year Ended 28th February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WELSH CANAL HOLIDAY CRAFT LIMITED

Company Information
for the Year Ended 28th February 2023







Directors: P L Furniss
Mrs R E Furniss
W M Furniss
N Dufton
Mrs I Dufton





Secretary: Mrs R E Furniss





Registered office: 1 Kille House
Chinnor Road
Thame
Oxfordshire
OX9 3NU





Registered number: 03922569





Accountants: S G Beale and Co
Chartered Accountants
1 Kille House
Chinnor Road
Thame
Oxfordshire
OX9 3NU

WELSH CANAL HOLIDAY CRAFT LIMITED (REGISTERED NUMBER: 03922569)

Balance Sheet
28th February 2023

2022 2023
£    £    Notes £    £   
FIXED ASSETS
66,979 Tangible assets 4 65,728
213,154 Investments 5 213,154
280,133 278,882

CURRENT ASSETS
4,925 Stocks 6,713
127,888 Debtors 6 141,922
117,355 Cash at bank and in hand 94,391
250,168 243,026
CREDITORS
141,410 Amounts falling due within one year 7 120,244
108,758 NET CURRENT ASSETS 122,782

388,891
TOTAL ASSETS LESS CURRENT
LIABILITIES

401,664

CREDITORS

(132,404

)
Amounts falling due after more than one
year

8

(132,404

)

(9,471 ) PROVISIONS FOR LIABILITIES (10,495 )
247,016 NET ASSETS 258,765

CAPITAL AND RESERVES
1,000 Called up share capital 9 1,000
246,016 Retained earnings 10 257,765
247,016 SHAREHOLDERS' FUNDS 258,765

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WELSH CANAL HOLIDAY CRAFT LIMITED (REGISTERED NUMBER: 03922569)

Balance Sheet - continued
28th February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th November 2023 and were signed on its behalf by:





W M Furniss - Director


WELSH CANAL HOLIDAY CRAFT LIMITED (REGISTERED NUMBER: 03922569)

Notes to the Financial Statements
for the Year Ended 28th February 2023

1. STATUTORY INFORMATION

Welsh Canal Holiday Craft Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on written down values
Horses - 10% on written down values
Boats - 10% on written down values
Plant and fixtures - 10% on written down values

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

WELSH CANAL HOLIDAY CRAFT LIMITED (REGISTERED NUMBER: 03922569)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 24 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to
Totals property Horses
£    £    £   
Cost
At 1st March 2022 360,743 103,320 15,793
Additions 7,481 - -
Disposals (2,955 ) - -
At 28th February 2023 365,269 103,320 15,793
Depreciation
At 1st March 2022 293,764 86,442 8,165
Charge for year 7,460 1,688 764
Eliminated on disposal (1,683 ) - -
At 28th February 2023 299,541 88,130 8,929
Net book value
At 28th February 2023 65,728 15,190 6,864
At 28th February 2022 66,979 16,878 7,628

Motor Plant and
Boats vehicles fixtures
£    £    £   
Cost
At 1st March 2022 121,780 5,000 114,850
Additions - - 7,481
Disposals - - (2,955 )
At 28th February 2023 121,780 5,000 119,376
Depreciation
At 1st March 2022 105,144 4,092 89,921
Charge for year 1,663 227 3,118
Eliminated on disposal - - (1,683 )
At 28th February 2023 106,807 4,319 91,356
Net book value
At 28th February 2023 14,973 681 28,020
At 28th February 2022 16,636 908 24,929

WELSH CANAL HOLIDAY CRAFT LIMITED (REGISTERED NUMBER: 03922569)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1st March 2022
and 28th February 2023 213,154
Net book value
At 28th February 2023 213,154
At 28th February 2022 213,154

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 129,415 113,420
VAT - 3,096
Prepayments and accrued income 12,507 11,372
141,922 127,888

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 16,993 16,574
Corporation tax 49,759 53,791
Social security and other taxes 889 2,000
VAT 3,020 -
Directors' current accounts 3,000 14,870
Accruals and deferred income 46,583 54,175
120,244 141,410

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 132,404 132,404

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary 1 1,000 1,000

WELSH CANAL HOLIDAY CRAFT LIMITED (REGISTERED NUMBER: 03922569)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023

10. RESERVES
Retained
earnings
£   

At 1st March 2022 246,016
Profit for the year 212,427
Dividends (200,678 )
At 28th February 2023 257,765

11. ULTIMATE CONTROLLING PARTY

The controlling party is Llangollen Wharf Limited.