Registered number
04906301
Waterways Holidays Limited
Unaudited Filleted Accounts
31 December 2024
Waterways Holidays Limited
Company Information
Directors
Mr NT Richards
Mrs LC Richards
Mrs A V Gapper
Secretary
Mr NT Richards
Accountants
Keith Graham
Chartered Accountants
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
Bankers
Santander UK plc
Registered office
47 Station Road
Aldershot
Hampshire
GU11 1BA
Registered number
04906301
Waterways Holidays Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Waterways Holidays Limited for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Waterways Holidays Limited for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/ en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Waterways Holidays Limited, as a body, in accordance with the terms of our engagement letter dated 3 March 2025. Our work has been undertaken solely to prepare for your approval the accounts of Waterways Holidays Limited and state those matters that we have agreed to state to the Board of Directors of Waterways Holidays Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Waterways Holidays Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Waterways Holidays Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Waterways Holidays Limited. You consider that Waterways Holidays Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Waterways Holidays Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Keith Graham
Chartered Accountants
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
11 June 2025
Waterways Holidays Limited
Registered number: 04906301
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 914,732 65,314
Current assets
Debtors 5 38,974 39,572
Cash at bank and in hand 680,138 1,409,401
719,112 1,448,973
Creditors: amounts falling due within one year 6 (86,723) (71,945)
Net current assets 632,389 1,377,028
Total assets less current liabilities 1,547,121 1,442,342
Provisions for liabilities (11,351) (16,329)
Net assets 1,535,770 1,426,013
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,535,768 1,426,011
Shareholders' funds 1,535,770 1,426,013
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.
Mr NT Richards
Director
Approved by the board on 11 June 2025
Waterways Holidays Limited
Notes to the Accounts
for the year ended 31 December 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 commissions received for bookings. Turnover from the commissions received for bookings is recognised at the time of booking.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Investment properties Revalued to market value each year
Motor vehicles over 4 years
Fixtures, fittings and equipment over 4 years/10 years
Leasehold improvements over remaining life of lease
Investment properties
Paragraph 16.7 of FRS 102 requires investment properties to be measured at fair value at each reporting date. All increases and decreases in value are taken to the profit and loss in the year. Information regarding the valuation method can be seen in note 3.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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 8 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 30,000
At 31 December 2024 30,000
Amortisation
At 1 January 2024 30,000
At 31 December 2024 30,000
Net book value
At 31 December 2024 -
The Wordmaster intangible asset is being written off over 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 - 24,733 96,665 121,398
Additions 869,328 9,163 - 878,491
At 31 December 2024 869,328 33,896 96,665 999,889
Depreciation
At 1 January 2024 - 18,666 37,418 56,084
Charge for the year - 4,907 24,166 29,073
At 31 December 2024 - 23,573 61,584 85,157
Net book value
At 31 December 2024 869,328 10,323 35,081 914,732
At 31 December 2023 - 6,067 59,247 65,314
Freehold land and buildings: 2024 2023
£ £
Historical cost 869,328 -
Cumulative depreciation based on historical cost - -
869,328 -
5 Debtors 2024 2023
£ £
Trade debtors 35,768 33,458
Other debtors 3,206 6,114
38,974 39,572
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 29 -
Taxation and social security costs 78,839 61,524
Other creditors 7,855 10,421
86,723 71,945
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 2,600 2,600
8 Related party transactions
During the year the company recharged Waterside Breaks Limited (a company controlled by Mr N T Richards) £11,780 (2023: £10,485) for administration services, bookkeeping, telephone charges, office space and utilities. At the year end £570 was outstanding.
9 Other information
Waterways Holidays Limited is a private company limited by shares and incorporated in England. Its registered office is:
47 Station Road
Aldershot
Hampshire
GU11 1BA
The financial statements are presented in Sterling, which is the functional currency of the company.
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