Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Mr R G Shackleford 06 June 2025 no description of principal activity 01774461 2024-09-30 01774461 2023-09-30 01774461 core:CurrentFinancialInstruments 2024-09-30 01774461 core:CurrentFinancialInstruments 2023-09-30 01774461 core:ShareCapital 2024-09-30 01774461 core:ShareCapital 2023-09-30 01774461 core:RetainedEarningsAccumulatedLosses 2024-09-30 01774461 core:RetainedEarningsAccumulatedLosses 2023-09-30 01774461 core:PlantMachinery 2023-09-30 01774461 core:FurnitureFittings 2023-09-30 01774461 core:PlantMachinery 2024-09-30 01774461 core:FurnitureFittings 2024-09-30 01774461 2023-10-01 2024-09-30 01774461 bus:FilletedAccounts 2023-10-01 2024-09-30 01774461 bus:SmallEntities 2023-10-01 2024-09-30 01774461 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 01774461 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01774461 bus:Director1 2023-10-01 2024-09-30 01774461 core:PlantMachinery core:TopRangeValue 2023-10-01 2024-09-30 01774461 core:FurnitureFittings core:TopRangeValue 2023-10-01 2024-09-30 01774461 2022-10-01 2023-09-30 01774461 core:PlantMachinery 2023-10-01 2024-09-30 01774461 core:FurnitureFittings 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Company No: 01774461 (England and Wales)

THE PADDINGTON BASIN MARINA COMPANY LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

THE PADDINGTON BASIN MARINA COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

THE PADDINGTON BASIN MARINA COMPANY LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
THE PADDINGTON BASIN MARINA COMPANY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTOR Mr R G Shackleford
SECRETARY Mrs M S E Shackleford
REGISTERED OFFICE 30 Pembroke Gardens
London
W8 6HU
United Kingdom
COMPANY NUMBER 01774461 (England and Wales)
ACCOUNTANT GRAVITA III LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
THE PADDINGTON BASIN MARINA COMPANY LIMITED

BALANCE SHEET

As at 30 September 2024
THE PADDINGTON BASIN MARINA COMPANY LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 6,713 9,063
6,713 9,063
Current assets
Stocks 1,200 1,200
Debtors 4 919,895 900,035
Cash at bank and in hand 15,623 19,950
936,718 921,185
Creditors: amounts falling due within one year 5 ( 171,995) ( 175,877)
Net current assets 764,723 745,308
Total assets less current liabilities 771,436 754,371
Provision for liabilities ( 1,679) ( 1,811)
Net assets 769,757 752,560
Capital and reserves
Called-up share capital 2 2
Profit and loss account 769,755 752,558
Total shareholder's funds 769,757 752,560

For the financial year ending 30 September 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 financial statements of The Paddington Basin Marina Company Limited (registered number: 01774461) were approved and authorised for issue by the Director on 06 June 2025. They were signed on its behalf by:

Mr R G Shackleford
Director
THE PADDINGTON BASIN MARINA COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
THE PADDINGTON BASIN MARINA COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Paddington Basin Marina Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 30 Pembroke Gardens, London, W8 6HU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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. The fair value of consideration takes into account trade discounts, settlement discounts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 years straight line
Fixtures and fittings 5 years straight line
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 7 7

3. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 October 2023 91,488 39,473 130,961
At 30 September 2024 91,488 39,473 130,961
Accumulated depreciation
At 01 October 2023 86,252 35,646 121,898
Charge for the financial year 1,349 1,001 2,350
At 30 September 2024 87,601 36,647 124,248
Net book value
At 30 September 2024 3,887 2,826 6,713
At 30 September 2023 5,236 3,827 9,063

4. Debtors

2024 2023
£ £
Corporation tax 0 2,794
Other debtors 919,895 897,241
919,895 900,035

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 9,502 13,610
Amounts owed to Group undertakings (note 6) 132,839 129,839
Other taxation and social security 23,284 20,959
Other creditors 6,370 11,469
171,995 175,877

6. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.