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Company registration number: 02282064







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024


NAUTICALIA LIMITED






































                img273e.png        

 


NAUTICALIA LIMITED
 


 
COMPANY INFORMATION


Directors
Chris Murdoch 
Carol Murdoch 
Ross Morrell 
Mark Wilby 




Registered number
02282064



Registered office
The Ferry Point
Ferry Lane

Shepperton-On-Thames

Middlesex

TW17 9LQ




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


NAUTICALIA LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8


 


NAUTICALIA LIMITED
REGISTERED NUMBER:02282064



STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
15,456
16,975

  
15,456
16,975

Current assets
  

Stocks
  
1,080,374
1,158,260

Debtors: amounts falling due within one year
 5 
1,311,044
1,430,134

Cash at bank and in hand
  
390,276
636,834

  
2,781,694
3,225,228

Creditors: amounts falling due within one year
 6 
(2,143,444)
(2,447,759)

Net current assets
  
 
 
638,250
 
 
777,469

Total assets less current liabilities
  
653,706
794,444

Creditors: amounts falling due after more than one year
 8 
-
(87,500)

  

Net assets
  
653,706
706,944


Capital and reserves
  

Called up share capital 
  
160,000
160,000

Profit and loss account
  
493,706
546,944

  
653,706
706,944


Page 1

 


NAUTICALIA LIMITED
REGISTERED NUMBER:02282064


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 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 income and retained earnings 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 by: 




Chris Murdoch
Director
Date: 4 April 2025

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

Page 2

 


NAUTICALIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Nauticalia Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office and principal place of business is disclosed on the company information page.

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.

 
2.2

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:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually at point of sale); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. 

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Intellectual property rights
-
5
years

 
2.4

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.

Page 3

 


NAUTICALIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
straight line over the period of the lease
Motor vehicles
-
25% straight line
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance

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 profit or loss.

 
2.5

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.  

 
2.6

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.7

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 4

 


NAUTICALIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Leased assets

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.9

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.


3.


Employees

The average monthly number of employees, including directors, during the year was 29 (2023 - 30).

Page 5

 


NAUTICALIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
22,200
85,818
57,915
123,177
289,110


Additions
-
-
-
2,930
2,930


Disposals
-
(16,631)
-
-
(16,631)



At 30 September 2024

22,200
69,187
57,915
126,107
275,409



Depreciation


At 1 October 2023
22,200
85,818
50,872
113,245
272,135


Charge for the year on owned assets
-
-
1,761
2,688
4,449


Disposals
-
(16,631)
-
-
(16,631)



At 30 September 2024

22,200
69,187
52,633
115,933
259,953



Net book value



At 30 September 2024
-
-
5,282
10,174
15,456



At 30 September 2023
-
-
7,043
9,932
16,975

Page 6

 


NAUTICALIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
222,503
258,929

Amounts owed by group undertakings
978,975
1,052,122

Other debtors
40,663
37,425

Prepayments and accrued income
68,903
81,658

1,311,044
1,430,134



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
9,110
7,961

Bank loans
-
50,000

Trade creditors
202,018
140,555

Amounts owed to group undertakings
842,737
885,925

Other taxation and social security
85,466
94,362

Other creditors
872,490
1,152,712

Accruals and deferred income
131,623
116,244

2,143,444
2,447,759



7.


Guarantees and financial commitments

The company has cross guaranteed the bank borrowing of it's parent company, Lynn Lewis Limited, at 30 September 2024 to an amount of £2,036,942 (2023: £2,053,212).


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
87,500

-
87,500


Page 7

 


NAUTICALIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Commitments under operating leases

At 30 September 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
2,750
11,000

Later than 1 year and not later than 5 years
-
13,750

2,750
24,750


10.


Transactions with directors

At 30 September 2024 the company owed directors £549,785 (2023 - £534,629). Interest of £81,000 was charged to the company on the loans during the year.

 
Page 8