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Registered number: 13283774










VICEROY MARINE LIMITED










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

 
VICEROY MARINE LIMITED
REGISTERED NUMBER: 13283774

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2022

As restated
2022
Unaudited 2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
654,750
668,250

  
654,750
668,250

Current assets
  

Debtors: amounts falling due within one year
 5 
16,378
16,476

Cash at bank and in hand
 6 
1,579
-

  
17,957
16,476

Creditors: amounts falling due within one year
 7 
(14,612)
(45,789)

Net current assets/(liabilities)
  
 
 
3,345
 
 
(29,313)

Creditors: amounts falling due after more than one year
  
(603,613)
(630,595)

  

Net assets
  
54,482
8,342


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
54,481
8,341

  
54,482
8,342


Page 1

 
VICEROY MARINE LIMITED
REGISTERED NUMBER: 13283774
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2022

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Andrew Moffat
Director

Date: 22 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
VICEROY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

1.


General information

Viceroy Marine Ltd is a private company limited by shares, incorporated in England and Wales in the United Kingdom. The address of the registered office is 41 Paradise Walk, London, England, SW3 4JL. 
The comparative period is for the period 22 March 2021 to 30 September 2021 and is therefore not entirely comparable.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in pounds sterling (£), the functional currency and rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
VICEROY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Boats
-
2%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the
Page 4

 
VICEROY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)


2.7
Financial instruments (continued)

present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 5

 
VICEROY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

4.


Tangible fixed assets





Boats

£



Cost or valuation


At 1 October 2021
675,000



At 30 September 2022

675,000



Depreciation


At 1 October 2021
6,750


Charge for the year
13,500



At 30 September 2022

20,250



Net book value



At 30 September 2022
654,750



At 30 September 2021
668,250


5.


Debtors

2022
Unaudited 2021
£
£


Other debtors
1
1

Prepayments and accrued income
16,377
16,475

16,378
16,476



6.


Cash and cash equivalents

2022
Unaudited 2021
£
£

Cash at bank and in hand
1,579
-

1,579
-


Page 6

 
VICEROY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

7.


Creditors: Amounts falling due within one year

As restated
2022
Unaudited 2021
£
£

Trade creditors
14,612
20,228

Accruals and deferred income
-
25,561

14,612
45,789



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Amounts owed to group undertakings
603,613
630,595

603,613
630,595



9.


Prior year adjustment

The financial statements of Viceroy Marine Limited have been restated to incorporate the omission of repairs and maintenance costs incurred in the year to 30 September 2021. Repairs and maintenance costs have increased by £12,473 and thus profits for the year reduced from £20,814 to £8,341. Accordingly, the company's retained earnings have also decreased by the same amount to £8,341.


10.


Controlling party

The company's immediate parent company is Thames River Moorings Ltd, incorporated in England and
Wales in the United Kingdom. The registered office of Thames River Moorings Ltd is 41 Paradise Walk,
London, SW3 4JL.
The company's ultimate parent company is Atherton Allergate Ltd, Incorporated in England and Wales in the United Kingdom. The registered office of Thames River Investments Ltd is 41 Paradise Walk, London, SW3 4JL.
                  The company was under the control of the directors, Mr Andrew Moffat and Mrs Charlotte Moffat, as a result of their control of the parent company, Thames River Investments Ltd. 


11.


Auditor's information

The auditor's report on the financial statements for the year ended 30 September 2022 was unqualified.

The audit report was signed on 2 December 2024 by Neil Stern FCA (Senior Statutory Auditor) on behalf of MHA.

 
Page 7