Registered number
01088877
Snaygill Boats Ltd
Filleted Accounts
31 October 2024
Snaygill Boats Ltd
Registered number: 01088877
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 140,283 273,880
Current assets
Stocks 3,650 4,701
Debtors 5 96,821 110,445
Cash at bank and in hand 151,797 92,801
252,268 207,947
Creditors: amounts falling due within one year 6 (66,938) (49,111)
Net current assets 185,330 158,836
Total assets less current liabilities 325,613 432,716
Provisions for liabilities - (26,917)
Net assets 325,613 405,799
Capital and reserves
Called up share capital 200 200
Share premium 3,800 3,800
Revaluation reserve 7 268,483 268,483
Profit and loss account 53,130 133,316
Shareholders' funds 325,613 405,799
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Dortona
Director
Approved by the board on 18 March 2025
Snaygill Boats Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold Property 10% on cost
Narrowboats Held at market value
Fixture, Fittings & Equipment 15% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 33% on cost
Plant & Machinery 5% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 5
3 Leasehold Property £
Cost
At 1 November 2023 195,480
At 31 October 2024 195,480
Depreciation
At 1 November 2023 195,480
At 31 October 2024 195,480
Net book value
At 31 October 2024 -
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 235,000 161,126 6,988 403,114
Additions - 13,500 - 13,500
Disposals (143,000) - - (143,000)
At 31 October 2024 92,000 174,626 6,988 273,614
Depreciation
At 1 November 2023 - 125,895 3,339 129,234
Charge for the year - 3,185 912 4,097
At 31 October 2024 - 129,080 4,251 133,331
Net book value
At 31 October 2024 92,000 45,546 2,737 140,283
At 31 October 2023 235,000 35,231 3,649 273,880
5 Debtors 2024 2023
£ £
Trade debtors 26,856 99,318
Other debtors 69,965 11,127
96,821 110,445
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,527 15,533
Taxation and social security costs 22,376 17,312
Other creditors 35,035 16,266
66,938 49,111
7 Revaluation reserve 2024 2023
£ £
At 1 November 2023 268,483 226,071
Gain on revaluation of land and buildings - 42,412
At 31 October 2024 268,483 268,483
8 Other information
Snaygill Boats Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Snaygill Boat Yard
The Mooring
Skipton Road
Bradley
BD20 9AH
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