Company No:
Contents
Note | 31.03.2023 | 31.03.2022 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
|
|
|
Tangible assets | 4 |
|
|
|
1,237,544 | 1,303,973 | |||
Current assets | ||||
Stocks |
|
|
||
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
76,612 | 107,906 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current liabilities | (1,372,126) | (1,356,569) | ||
Total assets less current liabilities | (134,582) | (52,596) | ||
Net liabilities | (
|
(
|
||
Capital and reserves | ||||
Called-up share capital | 7 |
|
|
|
Profit and loss account | (
|
(
|
||
Total shareholders' deficit | (
|
(
|
Directors' responsibilities:
The financial statements of Weir Quay Boatyard Limited (registered number:
Miss Georgina Acland
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.
Weir Quay Boatyard Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Manor, Notgrove, Cheltenham, GL54 3BT, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £134,595. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Goodwill |
|
Land and buildings |
|
Plant and machinery |
|
Vehicles |
|
Computer equipment |
|
Land is not depreciated.
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Year ended 31.03.2023 |
Period from 19.01.2021 to 31.03.2022 |
||
Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
|
|
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 April 2022 |
|
|
|
At 31 March 2023 |
|
|
|
Accumulated amortisation | |||
At 01 April 2022 |
|
|
|
Charge for the financial period |
|
|
|
At 31 March 2023 |
|
|
|
Net book value | |||
At 31 March 2023 |
|
|
|
At 31 March 2022 |
|
|
Land and buildings | Plant and machinery | Vehicles | Computer equipment | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost | |||||||||
At 01 April 2022 |
|
|
|
|
|
||||
Additions |
|
|
|
|
|
||||
At 31 March 2023 |
|
|
|
|
|
||||
Accumulated depreciation | |||||||||
At 01 April 2022 |
|
|
|
|
|
||||
Charge for the financial period |
|
|
|
|
|
||||
At 31 March 2023 |
|
|
|
|
|
||||
Net book value | |||||||||
At 31 March 2023 |
|
|
|
|
|
||||
At 31 March 2022 |
|
|
|
|
|
31.03.2023 | 31.03.2022 | ||
£ | £ | ||
Trade debtors |
|
|
|
Prepayments |
|
|
|
VAT recoverable |
|
|
|
|
|
31.03.2023 | 31.03.2022 | ||
£ | £ | ||
Trade creditors |
|
|
|
Amounts owed to directors |
|
|
|
Accruals and deferred income |
|
|
|
Other taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
31.03.2023 | 31.03.2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
31.03.2023 | 31.03.2022 | ||
£ | £ | ||
within one year |
|
|
|
between one and five years |
|
|
|
after five years |
|
|
|
|
|
Transactions with the entity's directors
At the year end the company owed the directors £1,397,218 (2022:£1,398,932).