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Registered number: 13249523
Kingston River Cruises Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 13249523
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 11,429 14,286
Tangible Assets 4 28,714 33,062
40,143 47,348
CURRENT ASSETS
Stocks 5 6,924 10,729
Debtors 6 31,445 45,128
Cash at bank and in hand 80,840 43,599
119,209 99,456
Creditors: Amounts Falling Due Within One Year 7 (114,679 ) (97,999 )
NET CURRENT ASSETS (LIABILITIES) 4,530 1,457
TOTAL ASSETS LESS CURRENT LIABILITIES 44,673 48,805
NET ASSETS 44,673 48,805
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 44,672 48,804
SHAREHOLDERS' FUNDS 44,673 48,805
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
N H O Tudor
Director
08/07/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line Method
Computer Equipment 20% Straight Line Method
1.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in another year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2024: 16)
15 16
Page 2
Page 3
3. Intangible Assets
Other
£
Cost
As at 1 April 2024 20,000
As at 31 March 2025 20,000
Amortisation
As at 1 April 2024 5,714
Provided during the period 2,857
As at 31 March 2025 8,571
Net Book Value
As at 31 March 2025 11,429
As at 1 April 2024 14,286
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 38,092 1,212 39,304
As at 31 March 2025 38,092 1,212 39,304
Depreciation
As at 1 April 2024 5,642 600 6,242
Provided during the period 4,106 242 4,348
As at 31 March 2025 9,748 842 10,590
Net Book Value
As at 31 March 2025 28,344 370 28,714
As at 1 April 2024 32,450 612 33,062
5. Stocks
2025 2024
£ £
Finished goods 6,924 10,729
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 7,634 14,474
Other debtors 23,811 30,654
31,445 45,128
Page 3
Page 4
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 8,779 8,225
Bank loans and overdrafts 6,493 6,228
Corporation tax 9,851 4,906
Other taxes and social security 1,455 1,968
Other creditors 5,527 5,993
Accruals and deferred income 73,936 63,930
Director's loan account 8,638 6,749
114,679 97,999
8. Share Capital
2025 2024
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.000 each 1 1
Page 4