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Registered number: 02192074













 
BEESTON MARINA LIMITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 OCTOBER 2024




































Page Kirk LLP
Chartered Accountants and Statutory Auditors
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB


 
BEESTON MARINA LIMITED
 


CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 9



 
BEESTON MARINA LIMITED
REGISTERED NUMBER:02192074


BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
735,266
715,531

Investments
 5,6 
2,196,109
1,929,261

  
2,931,375
2,644,792

Current assets
  

Stocks
  
117,965
122,238

Debtors
 7 
387,435
552,341

Cash at bank and in hand
  
446,816
498,436

  
952,216
1,173,015

Creditors: amounts falling due within one year
 8 
(228,794)
(256,088)

Net current assets
  
 
 
723,422
 
 
916,927

Total assets less current liabilities
  
3,654,797
3,561,719

Provisions for liabilities
  
(2,926)
(2,055)

Net assets
  
3,651,871
3,559,664


Capital and reserves
  

Called up share capital 
  
80
80

Revaluation reserve
  
814,048
814,048

Profit and loss account
  
2,837,743
2,745,536

  
3,651,871
3,559,664



Page 1


 
BEESTON MARINA LIMITED
REGISTERED NUMBER:02192074

    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 July 2025.




................................................
Mr A J S Busuttil
Director

The notes on pages 3 to 9 form part of these financial statements.


Page 2


 
BEESTON MARINA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

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:
1 The Quay
Beeston Marina
Beeston Rylands
Nottingham
NG9 1NA 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Summary of disclosure exemptions

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements on the grounds that it is a small group.

 
2.3

Revenue

Turnover represents net sales from the public bar, sales and services from the chandlery, moorings and marine facilities.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.


Page 3


 
BEESTON MARINA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.


Page 4


 
BEESTON MARINA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Plant and machinery
-
25% & 10%
Motor vehicles
-
20%
Properties under construction
-
0%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


Page 5


 
BEESTON MARINA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

  
2.17

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 17).


Page 6


 
BEESTON MARINA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Properties under construction
Total

£
£
£
£
£



Cost or valuation


At 1 November 2023
595,000
73,698
52,309
131,005
852,012


Additions
-
5,346
-
23,308
28,654


Disposals
-
(510)
-
-
(510)



At 31 October 2024

595,000
78,534
52,309
154,313
880,156



Depreciation


At 1 November 2023
34,876
62,332
39,273
-
136,481


Charge for the year on owned assets
3,664
2,610
2,644
-
8,918


Disposals
-
(509)
-
-
(509)



At 31 October 2024

38,540
64,433
41,917
-
144,890



Net book value



At 31 October 2024
556,460
14,101
10,392
154,313
735,266



At 31 October 2023
560,124
11,366
13,036
131,005
715,531


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2023
19,050



At 31 October 2024
19,050




The investments in the dormant companies are reflected by amounts owing to subsidiaries by Beeston Marina Limited as shown in the creditors notes.


Page 7


 
BEESTON MARINA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 November 2023
1,910,211


Additions at cost
268,298


Disposals
(1,450)



At 31 October 2024
2,177,059

Freehold investment property relates to:
• The Mobile Home Park next to the Marina, which was revalued on 17th June 2016 by an independent valuer, Musson Liggins, on a pitch basis at £1,481,407.
• Humber Work at Humber Road, Beeston which was purchased in the financial year for £268,298. 
In the directors’ opinion, the above are the fair values for all investment properties.  





7.


Debtors

2024
2023
£
£


Trade debtors
19,116
16,717

Amounts owed by joint ventures and associated undertakings
340,338
512,298

Other debtors
4,407
139

Prepayments and accrued income
23,574
23,187

387,435
552,341



Page 8


 
BEESTON MARINA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
10,899
8,818

Amounts owed to related parties
19,050
19,050

Corporation tax
49,332
51,903

Other taxation and social security
15,606
19,249

Other creditors
84,640
101,134

Accruals and deferred income
49,267
55,934

228,794
256,088



9.


Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
16,300
16,300

Later than 1 year and not later than 5 years
61,867
64,367

Later than 5 years
116,150
129,950

194,317
210,617


10.


Charges

The following charges are outstanding:
• A mortgage debenture from National Westminster Bank PLC dated 3 August 1994. This is a floating charge over all plant, machinery, vehicles, computers and equipment if the property is sold.
• A legal mortgage from National Westminster Bank PLC dated 9 February 2000. This is a floating charge relating to the transfer of plant and machinery if the property is sold.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 October 2024 was unqualified.

The audit report was signed on 14 July 2025 by Mr James R Haywood ACA (Senior Statutory Auditor) on behalf of Page Kirk LLP.

 

Page 9