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Registration number: 06434627

Church Minshull Marina Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Church Minshull Marina Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Church Minshull Marina Limited

Company Information

Directors

R Parton

Mrs A L Parton

J J Parton

P Langley

E Parton

Company secretary

R Parton

Registered office

Aqueduct Marina
Church Minshull
Nantwich
Cheshire
CW5 6DX

Accountants

HGR Accountants Limited
Accountants and Chartered Tax Advisers
3 Linden Road
Cheadle Hulme
Cheshire
SK8 5NB

 

Church Minshull Marina Limited

(Registration number: 06434627)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,771,925

2,860,962

Current assets

 

Stocks

5

286,490

284,310

Debtors

6

161,975

64,653

Cash at bank and in hand

 

562,915

169,287

 

1,011,380

518,250

Creditors: Amounts falling due within one year

7

(1,085,070)

(869,963)

Net current liabilities

 

(73,690)

(351,713)

Total assets less current liabilities

 

6,698,235

2,509,249

Creditors: Amounts falling due after more than one year

7

(2,307,021)

(2,030,767)

Provisions for liabilities

(893,376)

(167,181)

Net assets

 

3,497,838

311,301

Capital and reserves

 

Called up share capital

8

102

102

Revaluation reserve

2,220,577

-

Retained earnings

1,277,159

311,199

Shareholders' funds

 

3,497,838

311,301

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Church Minshull Marina Limited

(Registration number: 06434627)
Balance Sheet as at 30 November 2023

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

.........................................
R Parton
Company secretary and director

 

Church Minshull Marina Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Aqueduct Marina
Church Minshull
Nantwich
Cheshire
CW5 6DX

These financial statements were authorised for issue by the Board on 30 August 2024.

2

Accounting policies

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006' including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Church Minshull Marina Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Asset class

Depreciation method and rate

Building

2% on cost

Marina

2% on cost

Plant and machinery

15% on reducing balance

Fixturers and fittings

20% on cost

Motor vehicles

25% on reducing balance

Office equipment

20% on cost

Stocks

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

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions payable to the comapny's pension scheme are charged to profit and loss in the period to which they relate.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 37 (2022 - 37).

4

Tangible assets

Marina, land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2022

3,539,231

62,772

13,850

400,850

4,016,703

Revaluations

2,960,769

-

-

-

2,960,769

Additions

4,250

1,024

-

111,748

117,022

At 30 November 2023

6,504,250

63,796

13,850

512,598

7,094,494

Depreciation

At 1 December 2022

880,937

42,464

9,469

222,871

1,155,741

Charge for the year

-

7,167

1,095

39,503

47,765

Eliminated on revaluation

(880,937)

-

-

-

(880,937)

At 30 November 2023

-

49,631

10,564

262,374

322,569

Carrying amount

At 30 November 2023

6,504,250

14,165

3,286

250,224

6,771,925

At 30 November 2022

2,658,294

20,308

4,381

177,979

2,860,962

 

Church Minshull Marina Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Revaluation

The fair value of the company's Marina, land and buildings was revalued on 22 December 2022 by an independent valuer.
A comparable methof of valuation has been used in the valuation. The name and qualification of the independent valuer are Tony Rimmer MRICS FAAV REV RICS Registered Valuer.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £3,539,231 (2022 - £3,539,231).

5

Stocks

2023
£

2022
£

Work in progress

78,621

-

Other inventories

207,869

284,310

286,490

284,310

6

Debtors

Current

2023
£

2022
£

Trade debtors

127,022

53,735

Prepayments

8,673

10,918

Other debtors

26,280

-

 

161,975

64,653

 

Church Minshull Marina Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

106,967

148,260

Taxation and social security

128,237

115,394

Accruals and deferred income

486,759

406,636

Other creditors

187,831

12,265

Bank borrowings

157,905

171,377

HP and finance lease liabilities

16,275

15,281

Directors' loan accounts

1,096

750

1,085,070

869,963

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £174,180 (2022 - £186,658).

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Bank loan 1 (1-2 yrs)

157,905

170,900

Bank loan 1 (2-5 yrs)

449,177

498,162

Bank loan 1 (over 5 yrs)

1,670,101

1,361,705

HP and finance lease liabilities

29,838

-

2,307,021

2,030,767

2023
£

2022
£

Due after more than five years

After more than five years by instalments

1,670,627

1,361,705

-

-

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £2,307,021 (2022 - £2,030,767).

 

Church Minshull Marina Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

1

1

1

1

Ordinary C shares of £1 each

1

1

1

1

 

102

102

102

102

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

2,220,577

2,220,577

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

2,277,183

2,030,767

Hire purchase contracts

29,838

-

2,307,021

2,030,767