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REGISTERED NUMBER: SC201048 (Scotland)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CRINAN BOATYARD LIMITED

CRINAN BOATYARD LIMITED (REGISTERED NUMBER: SC201048)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRINAN BOATYARD LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2024







DIRECTORS: Geoffrey John Wintrup Dunlop
Charles Lindsay Dunlop
Derek Smart





SECRETARY: Charles Lindsay Dunlop





REGISTERED OFFICE: Crinan Boatyard
Crinan
Lochgilphead
Argyll
PA31 8SW





REGISTERED NUMBER: SC201048 (Scotland)





ACCOUNTANTS: R A Clement Associates
Chartered Accountants
Argyll Square
Oban
Argyll
PA34 4AZ

CRINAN BOATYARD LIMITED (REGISTERED NUMBER: SC201048)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 759,400 769,543

CURRENT ASSETS
Stocks 456,290 416,768
Debtors 5 53,928 31,529
Prepayments and accrued income 23,851 20,548
Cash in hand 228 228
534,297 469,073
CREDITORS
Amounts falling due within one year 6 573,220 527,914
NET CURRENT LIABILITIES (38,923 ) (58,841 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

720,477

710,702

CREDITORS
Amounts falling due after more than one year 7 (194,167 ) (214,167 )

ACCRUALS AND DEFERRED INCOME (99,819 ) (103,096 )
NET ASSETS 426,491 393,439

CAPITAL AND RESERVES
Called up share capital 330,000 330,000
Retained earnings 96,491 63,439
SHAREHOLDERS' FUNDS 426,491 393,439

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CRINAN BOATYARD LIMITED (REGISTERED NUMBER: SC201048)

BALANCE SHEET - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





Geoffrey John Wintrup Dunlop - Director


CRINAN BOATYARD LIMITED (REGISTERED NUMBER: SC201048)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2024

1. STATUTORY INFORMATION

Crinan Boatyard Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land - not provided
Buildings - 2% on cost
Slipway - 10% on cost
Workshop - 25% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CRINAN BOATYARD LIMITED (REGISTERED NUMBER: SC201048)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grants
Grants received in respect of capital expenditure are credited to a deferred income account and are released to the profit and loss account over the expected useful lives of the assets to which they relate.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Land Buildings Slipway Workshop
£    £    £    £   
COST
At 1 January 2024 106,490 883,222 461,728 15,570
Additions - - - -
At 31 December 2024 106,490 883,222 461,728 15,570
DEPRECIATION
At 1 January 2024 - 325,341 461,728 15,570
Charge for year - 17,664 - -
At 31 December 2024 - 343,005 461,728 15,570
NET BOOK VALUE
At 31 December 2024 106,490 540,217 - -
At 31 December 2023 106,490 557,881 - -

CRINAN BOATYARD LIMITED (REGISTERED NUMBER: SC201048)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 645,764 8,273 37,195 7,903 2,166,145
Additions 2,697 - 23,000 - 25,697
At 31 December 2024 648,461 8,273 60,195 7,903 2,191,842
DEPRECIATION
At 1 January 2024 547,272 6,889 32,029 7,773 1,396,602
Charge for year 15,178 208 2,747 43 35,840
At 31 December 2024 562,450 7,097 34,776 7,816 1,432,442
NET BOOK VALUE
At 31 December 2024 86,011 1,176 25,419 87 759,400
At 31 December 2023 98,492 1,384 5,166 130 769,543

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 53,928 31,529

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 90,198 88,206
Trade creditors 58,155 73,785
Taxation and social security 54,363 46,643
Other creditors 370,504 319,280
573,220 527,914

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 69,167 89,167
Other creditors 125,000 125,000
194,167 214,167

CRINAN BOATYARD LIMITED (REGISTERED NUMBER: SC201048)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Shareholders long term loans 75,000 75,000
Directors long term loans 50,000 50,000
125,000 125,000

Repayable by instalments
Bank loans more 5 yr by instal 25,000 35,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 63,290 64,012
Bank loans 96,075 113,361
159,365 177,373

The Bank of Scotland hold a floating charge over the assets of the company, a standard security over the property owned by the company and two assignations of life policies on the life of G J Dunlop, director, for the values of £150,000 and £270,000 for the period of the facility.

9. RELATED PARTY DISCLOSURES

The company is controlled by the directors.