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TOWER BRIDGE YACHT AND BOAT COMPANY LIMITED

Registered Number
02269602
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

TOWER BRIDGE YACHT AND BOAT COMPANY LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

LACEY, Nicholas Stephen

Registered Address

Reeds Wharf
33 Mill Street
London
SE1 2AX

Registered Number

02269602 (England and Wales)
TOWER BRIDGE YACHT AND BOAT COMPANY LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,1456,431
5,1456,431
Current assets
Stocks2,078,9971,481,032
Debtors668,296780,929
Cash at bank and on hand786,461808,452
3,533,7543,070,413
Creditors amounts falling due within one year(1,390,699)(905,140)
Net current assets (liabilities)2,143,0552,165,273
Total assets less current liabilities2,148,2002,171,704
Net assets2,148,2002,171,704
Capital and reserves
Called up share capital10,00010,000
Profit and loss account2,138,2002,161,704
Shareholders' funds2,148,2002,171,704
The financial statements were approved and authorised for issue by the Director on 30 January 2025, and are signed on its behalf by:
LACEY, Nicholas Stephen
Director
Registered Company No. 02269602
TOWER BRIDGE YACHT AND BOAT COMPANY LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery33
Vehicles20
Office Equipment25
Stocks and work in progress
Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 May 23368,532
At 30 April 24368,532
Depreciation and impairment
At 01 May 23362,101
Charge for year1,286
At 30 April 24363,387
Net book value
At 30 April 245,145
At 30 April 236,431