1 November 2023 v2025.28.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP019038042023-11-012024-10-31019038042024-10-31019038042023-10-3101903804core:WithinOneYear2024-10-3101903804core:WithinOneYear2023-10-3101903804core:ShareCapital2024-10-3101903804core:ShareCapital2023-10-3101903804core:SharePremium2024-10-3101903804core:SharePremium2023-10-3101903804core:RetainedEarningsAccumulatedLosses2024-10-3101903804core:RetainedEarningsAccumulatedLosses2023-10-3101903804bus:Director12023-11-012024-10-3101903804bus:RegisteredOffice2023-11-012024-10-3101903804core:LandBuildings2023-11-012024-10-3101903804core:FurnitureFittingsToolsEquipment2023-11-012024-10-3101903804core:MotorVehicles2023-11-012024-10-31019038042022-11-012023-10-3101903804core:LandBuildings2023-11-0101903804core:PlantMachinery2023-11-01019038042023-11-0101903804core:PlantMachinery2023-11-012024-10-3101903804core:LandBuildings2024-10-3101903804core:PlantMachinery2024-10-3101903804core:LandBuildings2023-10-3101903804core:PlantMachinery2023-10-310190380412023-11-012024-10-3101903804countries:EnglandWales2023-11-012024-10-3101903804bus:AuditExemptWithAccountantsReport2023-11-012024-10-3101903804bus:PrivateLimitedCompanyLtd2023-11-012024-10-3101903804bus:SmallEntities2023-11-012024-10-3101903804bus:FullAccounts2023-11-012024-10-31
Company registration number:
01903804
Rutland Water Cruises Ltd
Unaudited Filleted Financial Statements for the year ended
31 October 2024
The Barker Partnership
Chartered Accountants
44 Kirkgate, Ripon, North Yorkshire, HG4 1PB, United Kingdom
Rutland Water Cruises Ltd
Statement of Financial Position
31 October 2024
20242023
Note££
Fixed assets    
Tangible assets 5
144,346
 
172,217
 
Current assets    
Debtors 6
2,116
 
15,381
 
Cash at bank and in hand
271,676
 
198,334
 
273,792
 
213,715
 
Creditors: amounts falling due within one year 7
(131,595
)
(109,831
)
Net current assets
142,197
 
103,884
 
Total assets less current liabilities 286,543   276,101  
Provisions for liabilities
(10,325
)
(13,721
)
Net assets
276,218
 
262,380
 
Capital and reserves    
Called up share capital
100
 
100
 
Share premium
2,495
 
2,495
 
Profit and loss account
273,623
 
259,785
 
Shareholders funds
276,218
 
262,380
 
For the year ending
31 October 2024
, 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
14 May 2025
, and are signed on behalf of the board by:
M Broadhead
Director
Company registration number:
01903804
Rutland Water Cruises Ltd
Notes to the Financial Statements
Year ended
31 October 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
44 Kirkgate
,
Ripon
,
North Yorkshire
,
HG4 1PB
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
5% straight line
Fixtures, fittings and equipment
30% reducing balance
Motor vehicles
25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
8
(2023:
7.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 November 2023
203,085
 
208,054
 
411,139
 
Additions -  
2,662
 
2,662
 
Disposals -  
(1,906
)
(1,906
)
At
31 October 2024
203,085
 
208,810
 
411,895
 
Depreciation      
At
1 November 2023
103,085
 
135,837
 
238,922
 
Charge
10,000
 
20,029
 
30,029
 
Disposals -  
(1,402
)
(1,402
)
At
31 October 2024
113,085
 
154,464
 
267,549
 
Carrying amount      
At
31 October 2024
90,000
 
54,346
 
144,346
 
At 31 October 2023
100,000
 
72,217
 
172,217
 

6 Debtors

20242023
££
Trade debtors
513
 
1,672
 
Other debtors
1,603
 
13,709
 
2,116
 
15,381
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
2,794
 
4,378
 
Taxation and social security
19,528
 
3,670
 
Other creditors
109,273
 
101,783
 
131,595
 
109,831