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Registered number: 3182803
Shadow Boat Builders Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Graver & Co Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 3182803
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 20,001 1
Tangible Assets 5 307,902 292,250
327,903 292,251
CURRENT ASSETS
Stocks 6 40,000 36,000
Debtors 7 15,784 14,302
Cash at bank and in hand 58,686 154,258
114,470 204,560
Creditors: Amounts Falling Due Within One Year 8 (21,777 ) (28,798 )
NET CURRENT ASSETS (LIABILITIES) 92,693 175,762
TOTAL ASSETS LESS CURRENT LIABILITIES 420,596 468,013
Creditors: Amounts Falling Due After More Than One Year 9 (186,693 ) (116,181 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (57 ) (75 )
NET ASSETS 233,846 351,757
CAPITAL AND RESERVES
Called up share capital 11 18 18
Profit and Loss Account 233,828 351,739
SHAREHOLDERS' FUNDS 233,846 351,757
Page 1
Page 2
For the year ending 30 April 2024 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Jennifer Crampton
Director
Mrs Emma Lansdale
Director
Mr Paul Crampton
Director
22nd November 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Shadow Boat Builders Ltd Registered number 3182803 is a limited by shares company incorporated in England & Wales. The Registered Office is Riverside Estate, Brundall, Norwich, NR13 5PL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. All income is derived from activities within the UK.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 on the following bases:
Freehold 0%
Leasehold 0%
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 10% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 4
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 84,882
Additions 25,000
As at 30 April 2024 109,882
Amortisation
As at 1 May 2023 84,881
Provided during the period 5,000
As at 30 April 2024 89,881
Net Book Value
As at 30 April 2024 20,001
As at 1 May 2023 1
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £ £
Cost
As at 1 May 2023 261,127 44,516 81,283 5,646 392,572
Additions - - 344 21,995 22,339
As at 30 April 2024 261,127 44,516 81,627 27,641 414,911
Depreciation
As at 1 May 2023 - 17,805 76,871 5,646 100,322
Provided during the period - - 1,189 5,498 6,687
As at 30 April 2024 - 17,805 78,060 11,144 107,009
Net Book Value
As at 30 April 2024 261,127 26,711 3,567 16,497 307,902
As at 1 May 2023 261,127 26,711 4,412 - 292,250
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6. Stocks
2024 2023
£ £
Materials 40,000 36,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 255
Prepayments and accrued income 2,137 1,958
Other debtors 13,647 12,089
15,784 14,302
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,315 11,754
Corporation tax (2,481 ) 2,481
Accruals and deferred income 15,943 14,563
21,777 28,798
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 186,693 116,181
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 57 75
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 18 18
12. Directors Advances, Credits and Guarantees
Dividends paid to directors
Page 5
Page 6
2024 2023
£ £
Mrs Jennifer Crampton 30,000 30,000
Mr Anthony Crampton 24,000 24,000
Mr Paul Crampton 30,000 30,000
13. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 84,000 84,000
14. Ultimate Controlling Party
The company's ultimate controlling party are the directors by virtue of their ownership of 100% of the issued share capital in the company.
Page 6