Registered number
06554970
Plymouth Boat Trips Limited
Filleted Accounts
31 December 2023
Plymouth Boat Trips Limited
Registered number: 06554970
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 9,385 14,201
Tangible assets 4 1,949,467 2,002,129
1,958,852 2,016,330
Current assets
Debtors 5 147,180 204,043
Cash at bank and in hand 307,824 323,578
455,004 527,621
Creditors: amounts falling due within one year 6 (411,846) (428,799)
Net current assets 43,158 98,822
Total assets less current liabilities 2,002,010 2,115,152
Creditors: amounts falling due after more than one year 7 (472,237) (557,412)
Provisions for liabilities (322,947) (322,947)
Net assets 1,206,826 1,234,793
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 8 33,120 33,120
Profit and loss account 1,172,706 1,200,673
Shareholders' funds 1,206,826 1,234,793
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dominic Squire Benjamin Squire
Director Director
Approved by the board on 27 August 2024
Plymouth Boat Trips Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 1% reducing balance on traditional vessels
Fixtures and fittings 20% reducing balance
Motor vehicles 25% reducing balance
Computer equipment 15% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 34 34
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 88,204
At 31 December 2023 88,204
Amortisation
At 1 January 2023 74,003
Provided during the year 4,816
At 31 December 2023 78,819
Net book value
At 31 December 2023 9,385
At 31 December 2022 14,201
4 Tangible fixed assets
Computer equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 21,624 2,252,365 6,915 2,280,904
Additions - 15,000 - 15,000
Disposals - (43,000) - (43,000)
At 31 December 2023 21,624 2,224,365 6,915 2,252,904
Depreciation
At 1 January 2023 15,043 263,588 144 278,775
Charge for the year 2,106 20,863 1,693 24,662
At 31 December 2023 17,149 284,451 1,837 303,437
Net book value
At 31 December 2023 4,475 1,939,914 5,078 1,949,467
At 31 December 2022 6,581 1,988,777 6,771 2,002,129
5 Debtors 2023 2022
£ £
Trade debtors 4,915 50,512
Other debtors 142,265 153,531
147,180 204,043
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 117,374 125,939
Trade creditors 43,299 32,167
Amounts owed to group undertakings and undertakings in which the company has a participating interest 28,456 33,456
Taxation and social security costs - 10,919
Other creditors 222,717 226,318
411,846 428,799
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 472,237 557,412
8 Revaluation reserve 2023 2022
£ £
At 1 January 2023 33,120 33,120
At 31 December 2023 33,120 33,120
9 Other information
Plymouth Boat Trips Limited is a private company limited by shares and incorporated in England. Its registered office is:
4-5 Russell Court
Palace Street
Plymouth
PL1 2AS
Plymouth Boat Trips Limited 06554970 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Dominic Squire No description of principal activity 06554970 2022-01-01 2022-12-31 06554970 core:WithinOneYear 2022-12-31 06554970 core:AfterOneYear 2022-12-31 06554970 core:ShareCapital 2022-12-31 06554970 core:OtherReservesSubtotal 2022-12-31 06554970 core:RetainedEarningsAccumulatedLosses 2022-12-31 06554970 core:RevaluationReserve 2021-12-31 06554970 2023-01-01 2023-12-31 06554970 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06554970 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06554970 bus:Director40 2023-01-01 2023-12-31 06554970 1 2023-01-01 2023-12-31 06554970 2 2023-01-01 2023-12-31 06554970 core:Goodwill 2023-01-01 2023-12-31 06554970 core:LandBuildings 2023-01-01 2023-12-31 06554970 core:PlantMachinery 2023-01-01 2023-12-31 06554970 core:Vehicles 2023-01-01 2023-12-31 06554970 countries:England 2023-01-01 2023-12-31 06554970 bus:FRS102 2023-01-01 2023-12-31 06554970 bus:FilletedAccounts 2023-01-01 2023-12-31 06554970 2023-12-31 06554970 core:WithinOneYear 2023-12-31 06554970 core:AfterOneYear 2023-12-31 06554970 core:ShareCapital 2023-12-31 06554970 core:OtherReservesSubtotal 2023-12-31 06554970 core:RetainedEarningsAccumulatedLosses 2023-12-31 06554970 core:Goodwill 2023-12-31 06554970 core:LandBuildings 2023-12-31 06554970 core:PlantMachinery 2023-12-31 06554970 core:Vehicles 2023-12-31 06554970 core:RevaluationReserve 2023-12-31 06554970 2022-12-31 06554970 core:Goodwill 2022-12-31 06554970 core:LandBuildings 2022-12-31 06554970 core:PlantMachinery 2022-12-31 06554970 core:Vehicles 2022-12-31 06554970 core:RevaluationReserve 2022-12-31 iso4217:GBP xbrli:pure