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REGISTERED NUMBER: 03922569






Unaudited Financial Statements

for the Year Ended 29th February 2024

for

WELSH CANAL HOLIDAY CRAFT LIMITED

WELSH CANAL HOLIDAY CRAFT LIMITED (REGISTERED NUMBER: 03922569)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WELSH CANAL HOLIDAY CRAFT LIMITED

Company Information
for the Year Ended 29th February 2024







Directors: 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
29th February 2024

2023 2024
£    £    Notes £    £   
FIXED ASSETS
65,728 Tangible assets 4 61,237
213,154 Investments 5 213,154
278,882 274,391

CURRENT ASSETS
6,713 Stocks 6,687
141,922 Debtors 6 148,225
94,391 Cash at bank and in hand 107,340
243,026 262,252
CREDITORS
120,244 Amounts falling due within one year 7 130,180
122,782 NET CURRENT ASSETS 132,072

401,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

406,463

CREDITORS

(132,404

)
Amounts falling due after more than one
year

8

(132,404

)

(10,495 ) PROVISIONS FOR LIABILITIES 9 (14,212 )
258,765 NET ASSETS 259,847

CAPITAL AND RESERVES
1,000 Called up share capital 10 1,000
257,765 Retained earnings 11 258,847
258,765 SHAREHOLDERS' FUNDS 259,847

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 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
29th February 2024


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 30th October 2024 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 29th February 2024

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 29th February 2024

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 38 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to
Totals property Horses
£    £    £   
Cost
At 1st March 2023 365,269 103,320 15,793
Additions 3,595 - -
Disposals (5,000 ) - -
At 29th February 2024 363,864 103,320 15,793
Depreciation
At 1st March 2023 299,541 88,130 8,929
Charge for year 7,405 1,519 686
Eliminated on disposal (4,319 ) - -
At 29th February 2024 302,627 89,649 9,615
Net book value
At 29th February 2024 61,237 13,671 6,178
At 28th February 2023 65,728 15,190 6,864

Motor Plant and
Boats vehicles fixtures
£    £    £   
Cost
At 1st March 2023 121,780 5,000 119,376
Additions - 3,595 -
Disposals - (5,000 ) -
At 29th February 2024 121,780 3,595 119,376
Depreciation
At 1st March 2023 106,807 4,319 91,356
Charge for year 1,497 899 2,804
Eliminated on disposal - (4,319 ) -
At 29th February 2024 108,304 899 94,160
Net book value
At 29th February 2024 13,476 2,696 25,216
At 28th February 2023 14,973 681 28,020

WELSH CANAL HOLIDAY CRAFT LIMITED (REGISTERED NUMBER: 03922569)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1st March 2023
and 29th February 2024 213,154
Net book value
At 29th February 2024 213,154
At 28th February 2023 213,154

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,628 -
Amounts owed by group undertakings 131,604 129,415
Prepayments and accrued income 13,993 12,507
148,225 141,922

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 17,664 16,993
Corporation tax 60,583 49,759
Social security and other taxes - 889
VAT 1,745 3,020
Directors' current accounts 2,478 3,000
Accruals and deferred income 47,710 46,583
130,180 120,244

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 132,404 132,404

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 14,212 10,495

WELSH CANAL HOLIDAY CRAFT LIMITED (REGISTERED NUMBER: 03922569)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st March 2023 10,495
Provided during year 3,717
Balance at 29th February 2024 14,212

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary 1 1,000 1,000

11. RESERVES
Retained
earnings
£   

At 1st March 2023 257,765
Profit for the year 176,082
Dividends (175,000 )
At 29th February 2024 258,847

12. ULTIMATE CONTROLLING PARTY

The controlling party is Llangollen Wharf Limited.