Odana Narrowboats Ltd 11300602 false 2024-03-01 2025-02-28 2025-02-28 The principal activity of the company is the hire of narrowboats for leisure use. Digita Accounts Production Advanced 6.30.9574.0 true 11300602 2024-03-01 2025-02-28 11300602 2025-02-28 11300602 core:RetainedEarningsAccumulatedLosses 2025-02-28 11300602 core:ShareCapital 2025-02-28 11300602 core:CurrentFinancialInstruments 2025-02-28 11300602 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 11300602 core:Non-currentFinancialInstruments core:AfterOneYear 2025-02-28 11300602 core:FurnitureFittingsToolsEquipment 2025-02-28 11300602 bus:SmallEntities 2024-03-01 2025-02-28 11300602 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 11300602 bus:FilletedAccounts 2024-03-01 2025-02-28 11300602 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 11300602 bus:RegisteredOffice 2024-03-01 2025-02-28 11300602 bus:Director1 2024-03-01 2025-02-28 11300602 bus:Director2 2024-03-01 2025-02-28 11300602 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 11300602 bus:Agent1 2024-03-01 2025-02-28 11300602 core:FurnitureFittingsToolsEquipment 2024-03-01 2025-02-28 11300602 core:PlantMachinery 2024-03-01 2025-02-28 11300602 countries:EnglandWales 2024-03-01 2025-02-28 11300602 2024-02-29 11300602 core:FurnitureFittingsToolsEquipment 2024-02-29 11300602 2023-03-01 2024-02-29 11300602 2024-02-29 11300602 core:RetainedEarningsAccumulatedLosses 2024-02-29 11300602 core:ShareCapital 2024-02-29 11300602 core:CurrentFinancialInstruments 2024-02-29 11300602 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 11300602 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 11300602 core:FurnitureFittingsToolsEquipment 2024-02-29 iso4217:GBP xbrli:pure

Registration number: 11300602

Odana Narrowboats Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Odana Narrowboats Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Odana Narrowboats Ltd

Company Information

Directors

I A N Hutt

SE Hutt

Registered office

Lowther House
Lowther Street
Kendal
LA9 4DX

Accountants

Stables Thompson & Briscoe Limited
Chartered Accountants & Business AdvisersLowther House
Lowther Street
Kendal
LA9 4DX

 

Odana Narrowboats Ltd

(Registration number: 11300602)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

3,601,625

3,760,383

Current assets

 

Debtors

5

79,410

55,256

Cash at bank and in hand

 

932,181

923,031

 

1,011,591

978,287

Creditors: Amounts falling due within one year

6

(1,812,002)

(2,104,478)

Net current liabilities

 

(800,411)

(1,126,191)

Total assets less current liabilities

 

2,801,214

2,634,192

Creditors: Amounts falling due after more than one year

6

(1,000,000)

(1,000,000)

Provisions for liabilities

(684,309)

(714,473)

Net assets

 

1,116,905

919,719

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,116,805

919,619

Shareholders' funds

 

1,116,905

919,719

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 July 2025 and signed on its behalf by:
 

.........................................
SE Hutt
Director

 

Odana Narrowboats Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lowther House
Lowther Street
Kendal
LA9 4DX

These financial statements were authorised for issue by the Board on 22 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Odana Narrowboats Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% on cost and 5% on cost

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

 

Odana Narrowboats Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2024

4,926,838

4,926,838

Additions

115,577

115,577

Disposals

(34,000)

(34,000)

At 28 February 2025

5,008,415

5,008,415

Depreciation

At 1 March 2024

1,166,455

1,166,455

Charge for the year

250,535

250,535

Eliminated on disposal

(10,200)

(10,200)

At 28 February 2025

1,406,790

1,406,790

Carrying amount

At 28 February 2025

3,601,625

3,601,625

At 29 February 2024

3,760,383

3,760,383

5

Debtors

Current

2025
£

2024
£

Trade debtors

63,812

25,290

Prepayments

7,447

5,272

Other debtors

8,151

24,694

 

79,410

55,256

 

Odana Narrowboats Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2025

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

-

7,700

Taxation and social security

108,926

-

Accruals and deferred income

8,115

5,186

Other creditors

1,694,961

2,091,592

1,812,002

2,104,478

Creditors: amounts falling due after more than one year

2025
£

2024
£

Due after one year

 

Loans and borrowings

1,000,000

1,000,000