Company registration number 11319903 (England and Wales)
Liverpool Boat Tours Ltd
Unaudited financial statements
For the year ended 30 April 2024
Liverpool Boat Tours Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Liverpool Boat Tours Ltd
Statement of financial position
As at 30 April 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
353,675
347,820
Current assets
Stocks
2,500
2,500
Debtors
4
4,124
7,064
Cash at bank and in hand
7,623
6,624
17,187
Creditors: amounts falling due within one year
5
(350,279)
(385,226)
Net current liabilities
(343,655)
(368,039)
Total assets less current liabilities
10,020
(20,219)
Provisions for liabilities
(2,700)
Net assets/(liabilities)
7,320
(20,219)
Capital and reserves
Called up share capital
6
3
3
Profit and loss reserves
7,317
(20,222)
Total equity
7,320
(20,219)
Liverpool Boat Tours Ltd
Statement of financial position (continued)
As at 30 April 2024
30 April 2024
- 2 -
For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
Mr P.B. Frayling
Director
Company registration number 11319903 (England and Wales)
Liverpool Boat Tours Ltd
Notes to the financial statements
For the year ended 30 April 2024
- 3 -
1
Accounting policies
Company information
Liverpool Boat Tours Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Far Heath, Hassall Road, Alsager, Stoke-on-Trent, ST7 2HQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
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.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
Over 5-7 years
Boats
Over 7 years
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.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Liverpool Boat Tours Ltd
Notes to the financial statements (continued)
For the year ended 30 April 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
5
Liverpool Boat Tours Ltd
Notes to the financial statements (continued)
For the year ended 30 April 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
Boats
Total
£
£
£
Cost
At 1 May 2023
2,288
384,744
387,032
Additions
27,550
27,550
At 30 April 2024
2,288
412,294
414,582
Depreciation and impairment
At 1 May 2023
714
38,498
39,212
Depreciation charged in the year
357
21,338
21,695
At 30 April 2024
1,071
59,836
60,907
Carrying amount
At 30 April 2024
1,217
352,458
353,675
At 30 April 2023
1,574
346,246
347,820
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,538
Other debtors
4,124
3,526
4,124
7,064
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,425
Trade creditors
5,807
5,135
Taxation and social security
915
5,383
Other creditors
338,132
374,708
350,279
385,226
Other creditors includes amounts due to the directors of £234,717 (2023 - £271,934). Other creditors also includes amounts due to Fraylings (Holdings) Limited, a company in which two of the directors have an interest, of £100,000 (2023 - £100,000).
Liverpool Boat Tours Ltd
Notes to the financial statements (continued)
For the year ended 30 April 2024
- 6 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3
3
3
3
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
29,750
46,750