Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31Renting and leasing of passenger water transport equipment2023-06-01false66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05150806 2023-06-01 2024-05-31 05150806 2022-06-01 2023-05-31 05150806 2024-05-31 05150806 2023-05-31 05150806 2022-06-01 05150806 c:Director2 2023-06-01 2024-05-31 05150806 d:PlantMachinery 2023-06-01 2024-05-31 05150806 d:PlantMachinery 2024-05-31 05150806 d:PlantMachinery 2023-05-31 05150806 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05150806 d:OfficeEquipment 2023-06-01 2024-05-31 05150806 d:OfficeEquipment 2024-05-31 05150806 d:OfficeEquipment 2023-05-31 05150806 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05150806 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05150806 d:CurrentFinancialInstruments 2024-05-31 05150806 d:CurrentFinancialInstruments 2023-05-31 05150806 d:Non-currentFinancialInstruments 2024-05-31 05150806 d:Non-currentFinancialInstruments 2023-05-31 05150806 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 05150806 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 05150806 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 05150806 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 05150806 d:ShareCapital 2024-05-31 05150806 d:ShareCapital 2023-05-31 05150806 d:RevaluationReserve 2024-05-31 05150806 d:RevaluationReserve 2023-05-31 05150806 d:RetainedEarningsAccumulatedLosses 2024-05-31 05150806 d:RetainedEarningsAccumulatedLosses 2023-05-31 05150806 c:OrdinaryShareClass1 2023-06-01 2024-05-31 05150806 c:OrdinaryShareClass1 2024-05-31 05150806 c:FRS102 2023-06-01 2024-05-31 05150806 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 05150806 c:FullAccounts 2023-06-01 2024-05-31 05150806 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05150806 2 2023-06-01 2024-05-31 05150806 5 2023-06-01 2024-05-31 05150806 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 05150806 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 05150806 d:TaxLossesCarry-forwardsDeferredTax 2024-05-31 05150806 d:TaxLossesCarry-forwardsDeferredTax 2023-05-31 05150806 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05150806









IMPERIAL WHARF MARINA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
IMPERIAL WHARF MARINA LIMITED
REGISTERED NUMBER: 05150806

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,498,926
5,499,095

  
5,498,926
5,499,095

Current assets
  

Debtors: amounts falling due within one year
 5 
52,535
19,600

Cash at bank and in hand
 6 
259,616
201,334

  
312,151
220,934

Creditors: amounts falling due within one year
 7 
(284,012)
(238,525)

Net current assets/(liabilities)
  
 
 
28,139
 
 
(17,591)

Total assets less current liabilities
  
5,527,065
5,481,504

Creditors: amounts falling due after more than one year
 8 
(269,608)
(389,608)

Provisions for liabilities
  

Deferred tax
 9 
(945,715)
(945,757)

Net assets
  
4,311,742
4,146,139


Capital and reserves
  

Called up share capital 
 10 
200
200

Revaluation reserve
  
3,573,968
3,573,968

Profit and loss account
  
737,574
571,971

  
4,311,742
4,146,139


Page 1

 
IMPERIAL WHARF MARINA LIMITED
REGISTERED NUMBER: 05150806
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 
on
 27 November 2024.




P M L Banks Esq
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
IMPERIAL WHARF MARINA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Imperial Wharf Marina Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is 20 Mortlake High Street, London, SW14 8JN. The principal activity of the company during the year has been that of development and management of mooring facilities on the tidal Thames, along with the provision of services at Imperial Wharf not only to short stay private leisure vessels passing through London, but also to commercial, pleasure, passenger and commuter boats using our facilities. 

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 following principal accounting policies have been applied:

 
2.2

Going concern

The company meets its day to day working capital requirement from loans made by directors, who have confirmed their support will continue for the forseeable future. 

 
2.3

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
IMPERIAL WHARF MARINA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

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.

Depreciation is provided on the following bases:

Plant & Machinery
-
Not depreciated
Office Equipment
-
25% Straight line

The company has not provided for depreciation on plant and machinery and has therefore not complied with Companies Act 2006 requirements which state that fixed assets should be depreciated. It is the opinion of the directors that the economic lives of the plant and machinery are so long and the residual value at such a level that depreciation would be inappropriate and would not give a true and fair view of the financial position of the company.
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 the Statement of Comprehensive Income.

Page 4

 
IMPERIAL WHARF MARINA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.8

Revaluation of tangible fixed assets

Individual plant and machinery is carried at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance Sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in the Statement of Comprehensive Income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

Page 5

 
IMPERIAL WHARF MARINA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Plant & Machinery
Office Equipment
Total

£
£
£



Cost or valuation


At 1 June 2023
5,498,432
677
5,499,109



At 31 May 2024

5,498,432
677
5,499,109



Depreciation


At 1 June 2023
-
14
14


Charge for the year on owned assets
-
169
169



At 31 May 2024

-
183
183



Net book value



At 31 May 2024
5,498,432
494
5,498,926



At 31 May 2023
5,498,432
663
5,499,095

Cost or valuation at 31 May 2024 is as follows:

Plant and machinery
£


At cost
1,410,591
At valuation:

31 May 2024
4,087,841



5,498,432

If the plant and machinery had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
1,410,591
1,410,591

Accumulated depreciation
(706,187)
(649,764)

Net book value
704,404
760,827

Plant and machinery has been valued as at 31 May 2024 on an open market basis by the directors.

Page 6

 
IMPERIAL WHARF MARINA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
43,646
15,882

Other debtors
4,658
100

Prepayments and accrued income
4,231
3,618

52,535
19,600



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
259,616
201,334

259,616
201,334



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
39,699
21,922

Corporation tax
54,501
24,731

Other taxation and social security
485
2,100

Other creditors
16,472
-

Accruals and deferred income
172,855
189,772

284,012
238,525



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
269,608
389,608

269,608
389,608


Page 7

 
IMPERIAL WHARF MARINA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
(945,757)
(723,082)


Charged to profit and loss and other comprehensive income
42
(222,675)



At end of year
(945,715)
(945,757)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation of plant and machinery
(945,591)
(945,591)

Accelerated capital allowances
(124)
(166)

(945,715)
(945,757)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 Ordinary shares of £1.00 each
200
200


 
Page 8