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Registration number: 11800884

Helford Powerboat Charters Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Helford Powerboat Charters Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Helford Powerboat Charters Limited

(Registration number: 11800884)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

48,936

31,924

Investments

5

100

100

 

49,036

32,024

Current assets

 

Debtors

6

3,646

3,271

Cash at bank and in hand

 

8,725

26,603

 

12,371

29,874

Creditors: Amounts falling due within one year

7

(7,109)

(172,634)

Net current assets/(liabilities)

 

5,262

(142,760)

Net assets/(liabilities)

 

54,298

(110,736)

Capital and reserves

 

Called up share capital

210

210

Retained earnings

54,088

(110,946)

Shareholders' funds/(deficit)

 

54,298

(110,736)

 

Helford Powerboat Charters Limited

(Registration number: 11800884)
Balance Sheet as at 31 October 2024

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 February 2025
 

.........................................
Mr IJ McLaren
Director

 

Helford Powerboat Charters Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Mayn Cottage
Quay Road
Port Navas
Falmouth
TR11 5RY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of chartered powerboat services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Helford Powerboat Charters Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line basis

Fixtures and fittings

20% straight line basis

Boats

10% straight line basis

Office Equipment

20% straight line basis

Building

10 to 50 years straight line basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Helford Powerboat Charters Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 November 2023

-

4,217

53,778

3,955

61,950

Additions

24,071

-

-

310

24,381

At 31 October 2024

24,071

4,217

53,778

4,265

86,331

Depreciation

At 1 November 2023

-

3,699

24,920

1,407

30,026

Charge for the year

565

517

5,465

822

7,369

At 31 October 2024

565

4,216

30,385

2,229

37,395

Carrying amount

At 31 October 2024

23,506

1

23,393

2,036

48,936

At 31 October 2023

-

518

28,858

2,548

31,924

Included within the net book value of land and buildings above is £23,506 (2023 - £Nil) in respect of freehold land and buildings.
 

 

Helford Powerboat Charters Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 November 2023

100

Provision

Carrying amount

At 31 October 2024

100

At 31 October 2023

100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

McLaren Real Estate Consulting Limited

2 Old Bath Road, Newbury, Berkshire, England, RG14 1QL

United Kingdom

Ordinary

100%

100%

Subsidiary undertakings

McLaren Real Estate Consulting Limited

The principal activity of McLaren Real Estate Consulting Limited is real estate consultancy .

 

Helford Powerboat Charters Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Debtors

Current

2024
£

2023
£

Prepayments

1,569

1,310

Other debtors

2,077

1,961

 

3,646

3,271

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

7,109

172,634

8

Related party transactions

Other transactions with the director

Mr I J McLaren (director) made a loan to the company. At the balance sheet date the amount due to Mr I J McLaren was £5,334 (2023: £5,334).

McLaren Real Estate Consulting Limited (a subsidiary company of Helford Powerboat Charters Limited) made a loan to the company. At the balance sheet date the amount due to McLaren Real Estate Consulting Limited was £0 (2023: £166,100).