Silverfin false false 31/08/2024 01/09/2023 31/08/2024 Caroline Mary Cunningham 28/01/2023 Jonathan William Cunningham 04/08/2016 Deborah Jane King 28/01/2023 Mark Adrian King 04/08/2016 16 January 2025 The principal activity of the Company during the financial year was the provision of boat storage and services. 04193213 2024-08-31 04193213 bus:Director1 2024-08-31 04193213 bus:Director2 2024-08-31 04193213 bus:Director3 2024-08-31 04193213 bus:Director4 2024-08-31 04193213 2023-08-31 04193213 core:CurrentFinancialInstruments 2024-08-31 04193213 core:CurrentFinancialInstruments 2023-08-31 04193213 core:Non-currentFinancialInstruments 2024-08-31 04193213 core:Non-currentFinancialInstruments 2023-08-31 04193213 core:ShareCapital 2024-08-31 04193213 core:ShareCapital 2023-08-31 04193213 core:RevaluationReserve 2024-08-31 04193213 core:RevaluationReserve 2023-08-31 04193213 core:RetainedEarningsAccumulatedLosses 2024-08-31 04193213 core:RetainedEarningsAccumulatedLosses 2023-08-31 04193213 core:LandBuildings 2023-08-31 04193213 core:PlantMachinery 2023-08-31 04193213 core:Vehicles 2023-08-31 04193213 core:OfficeEquipment 2023-08-31 04193213 core:ComputerEquipment 2023-08-31 04193213 core:LandBuildings 2024-08-31 04193213 core:PlantMachinery 2024-08-31 04193213 core:Vehicles 2024-08-31 04193213 core:OfficeEquipment 2024-08-31 04193213 core:ComputerEquipment 2024-08-31 04193213 core:ImmediateParent core:CurrentFinancialInstruments 2024-08-31 04193213 core:ImmediateParent core:CurrentFinancialInstruments 2023-08-31 04193213 bus:OrdinaryShareClass1 2024-08-31 04193213 bus:OrdinaryShareClass2 2024-08-31 04193213 bus:OrdinaryShareClass3 2024-08-31 04193213 2023-09-01 2024-08-31 04193213 bus:FilletedAccounts 2023-09-01 2024-08-31 04193213 bus:SmallEntities 2023-09-01 2024-08-31 04193213 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04193213 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04193213 bus:Director1 2023-09-01 2024-08-31 04193213 bus:Director2 2023-09-01 2024-08-31 04193213 bus:Director3 2023-09-01 2024-08-31 04193213 bus:Director4 2023-09-01 2024-08-31 04193213 core:PlantMachinery core:TopRangeValue 2023-09-01 2024-08-31 04193213 core:Vehicles 2023-09-01 2024-08-31 04193213 core:OfficeEquipment 2023-09-01 2024-08-31 04193213 core:ComputerEquipment 2023-09-01 2024-08-31 04193213 2022-09-01 2023-08-31 04193213 core:LandBuildings 2023-09-01 2024-08-31 04193213 core:PlantMachinery 2023-09-01 2024-08-31 04193213 core:Non-currentFinancialInstruments 2023-09-01 2024-08-31 04193213 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 04193213 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 04193213 bus:OrdinaryShareClass2 2023-09-01 2024-08-31 04193213 bus:OrdinaryShareClass2 2022-09-01 2023-08-31 04193213 bus:OrdinaryShareClass3 2023-09-01 2024-08-31 04193213 bus:OrdinaryShareClass3 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04193213 (England and Wales)

WAYFORD MARINE LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

WAYFORD MARINE LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

WAYFORD MARINE LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
WAYFORD MARINE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
DIRECTORS Caroline Mary Cunningham
Jonathan William Cunningham
Deborah Jane King
Mark Adrian King
REGISTERED OFFICE Rockylls Hall
Shelland
Stowmarket
IP14 3JF
United Kingdom
COMPANY NUMBER 04193213 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
WAYFORD MARINE LIMITED

BALANCE SHEET

As at 31 August 2024
WAYFORD MARINE LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,670,683 1,644,554
1,670,683 1,644,554
Current assets
Stocks 0 2,000
Debtors 4 14,279 10,855
Investments 10,000 10,000
Cash at bank and in hand 39,715 53,860
63,994 76,715
Creditors: amounts falling due within one year 5 ( 241,385) ( 210,744)
Net current liabilities (177,391) (134,029)
Total assets less current liabilities 1,493,292 1,510,525
Creditors: amounts falling due after more than one year 6 ( 22,682) ( 26,728)
Provision for liabilities 7 ( 315,735) ( 234,679)
Net assets 1,154,875 1,249,118
Capital and reserves
Called-up share capital 8 3 3
Revaluation reserve 844,383 925,438
Profit and loss account 310,489 323,677
Total shareholder's funds 1,154,875 1,249,118

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Wayford Marine Limited (registered number: 04193213) were approved and authorised for issue by the Board of Directors on 16 January 2025. They were signed on its behalf by:

Jonathan William Cunningham
Director
WAYFORD MARINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
WAYFORD MARINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wayford Marine Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Rockylls Hall, Shelland, Stowmarket, IP14 3JF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 4 years straight line
Vehicles 20 % reducing balance
Office equipment 25 % reducing balance
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Computer equipment Total
£ £ £ £ £ £
Cost
At 01 September 2023 1,501,065 337,763 0 861 0 1,839,689
Additions 2,764 1,473 65,244 0 100 69,581
At 31 August 2024 1,503,829 339,236 65,244 861 100 1,909,270
Accumulated depreciation
At 01 September 2023 0 194,423 0 712 0 195,135
Charge for the financial year 0 32,526 10,874 37 15 43,452
At 31 August 2024 0 226,949 10,874 749 15 238,587
Net book value
At 31 August 2024 1,503,829 112,287 54,370 112 85 1,670,683
At 31 August 2023 1,501,065 143,340 0 149 0 1,644,554

4. Debtors

2024 2023
£ £
Trade debtors 4,006 8,475
Amounts owed by Group undertakings 0 2,380
Other debtors 10,273 0
14,279 10,855

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Parent undertakings 786 0
Taxation and social security 30,886 20,242
Other creditors 209,713 190,502
241,385 210,744

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 22,682 26,728

There are no amounts included above in respect of which any security has been given by the small entity.

7. Provision for liabilities

2024 2023
£ £
Deferred tax 315,735 234,679

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 0.01 each 1 1
100 Ordinary B shares of £ 0.01 each 1 1
100 Ordinary C shares of £ 0.01 each 1 1
3 3