Acorah Software Products - Accounts Production 14.6.300 false true 31 December 2021 1 January 2021 true No description of principal activity 1 January 2022 31 December 2022 31 December 2022 13149871 Mr C Odling-Smee iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13149871 2021-12-31 13149871 2022-12-31 13149871 2022-01-01 2022-12-31 13149871 frs-core:CurrentFinancialInstruments 2022-12-31 13149871 frs-core:PlantMachinery 2022-12-31 13149871 frs-core:PlantMachinery 2022-01-01 2022-12-31 13149871 frs-core:PlantMachinery 2021-12-31 13149871 frs-core:RevaluationReserve 2021-12-31 13149871 frs-core:RevaluationReserve 2022-12-31 13149871 frs-core:ShareCapital 2022-12-31 13149871 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 13149871 frs-bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 13149871 frs-bus:FullAccounts 2022-01-01 2022-12-31 13149871 frs-bus:SmallEntities 2022-01-01 2022-12-31 13149871 frs-bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 13149871 frs-bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 13149871 frs-bus:SmallCompaniesRegimeForDirectorsReport 2022-01-01 2022-12-31 13149871 frs-bus:Director1 2022-01-01 2022-12-31 13149871 frs-bus:Director2 2022-01-01 2022-12-31 13149871 frs-bus:Director2 2022-12-31 13149871 frs-countries:EnglandWales 2022-01-01 2022-12-31 13149871 2020-12-31 13149871 2021-12-31 13149871 2021-01-01 2021-12-31 13149871 frs-core:CurrentFinancialInstruments 2021-12-31 13149871 frs-core:RevaluationReserve 2021-12-31 13149871 frs-core:ShareCapital 2021-12-31 13149871 frs-core:RetainedEarningsAccumulatedLosses 2021-12-31
Registered number: 13149871
Watchet Marina Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 December 2022
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5
Notes to the Financial Statements 6—7
Page 1
Company Information
Director Mr C Odling-Smee
Company Number 13149871
Registered Office Cardiff Marine Village
Penarth Road
Cardiff
CF11 8TU
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2022.
Directors
The directors who held office during the year were as follows:
Mr C Odling-Smee
Mr D McDonald Resigned 31/03/2023
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr C Odling-Smee
Director
08/08/2024
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Accountant's Report
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 December 2022 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
08/08/2024
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Profit and Loss Account
2022 2021
Notes £ £
TURNOVER 178,345 139,822
Cost of sales (64,007 ) (65,762 )
GROSS PROFIT 114,338 74,060
Distribution costs (104,339 ) (63,272 )
OPERATING PROFIT AND PROFIT FOR THE FINANCIAL YEAR 9,999 10,788
The notes on pages 6 to 7 form part of these financial statements.
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Balance Sheet
2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,363,029 607,149
1,363,029 607,149
CURRENT ASSETS
Debtors 5 208,388 93,790
Cash at bank and in hand 501 216
208,889 94,006
Creditors: Amounts Falling Due Within One Year 6 (1,463,943 ) (603,179 )
NET CURRENT ASSETS (LIABILITIES) (1,255,054 ) (509,173 )
TOTAL ASSETS LESS CURRENT LIABILITIES 107,975 97,976
NET ASSETS 107,975 97,976
CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 87,088 87,088
Profit and Loss Account 20,787 10,788
SHAREHOLDERS' FUNDS 107,975 97,976
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr C Odling-Smee
Director
08/08/2024
The notes on pages 6 to 7 form part of these financial statements.
Page 5
Page 6
Notes to the Financial Statements
1. General Information
Watchet Marina Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13149871 . The registered office is Cardiff Marine Village , Penarth Road , Cardiff , CF11 8TU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2021: 7)
7 7
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2022 615,781
Additions 790,880
As at 31 December 2022 1,406,661
Depreciation
As at 1 January 2022 8,632
Provided during the period 35,000
As at 31 December 2022 43,632
Net Book Value
As at 31 December 2022 1,363,029
As at 1 January 2022 607,149
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5. Debtors
2022 2021
£ £
Due within one year
Trade debtors 15,715 24,324
Amounts owed by group undertakings 164,892 42,488
Other debtors 27,781 26,978
208,388 93,790
6. Creditors: Amounts Falling Due Within One Year
2022 2021
£ £
Trade creditors 19,217 9,741
Amounts owed to group undertakings 1,418,594 613,406
Other creditors 26,132 (19,968)
1,463,943 603,179
7. Share Capital
2022 2021
£ £
Allotted, Called up and fully paid 100 100
8. Reserves
Revaluation Reserve
£
As at 1 January 2022 87,088
As at 31 December 2022 87,088
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