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Company No: 13144189 (England and Wales)

WEIR QUAY BOATYARD LIMITED

Unaudited Financial Statements
For the financial period ended 31 March 2025
Pages for filing with the registrar

WEIR QUAY BOATYARD LIMITED

Unaudited Financial Statements

For the financial period ended 31 March 2025

Contents

WEIR QUAY BOATYARD LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
WEIR QUAY BOATYARD LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025
Note 31.03.2025 31.03.2024
£ £
Fixed assets
Intangible assets 3 129,077 150,844
Tangible assets 4 987,469 1,020,137
1,116,546 1,170,981
Current assets
Stocks 5,000 5,000
Debtors 5 32,647 20,230
Cash at bank and in hand 13,652 58,545
51,299 83,775
Creditors: amounts falling due within one year 6 ( 1,483,923) ( 1,474,818)
Net current liabilities (1,432,624) (1,391,043)
Total assets less current liabilities (316,078) (220,062)
Net liabilities ( 316,078) ( 220,062)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 316,178 ) ( 220,162 )
Total shareholders' deficit ( 316,078) ( 220,062)

For the financial period ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Weir Quay Boatyard Limited (registered number: 13144189) were approved and authorised for issue by the Board of Directors on 11 August 2025. They were signed on its behalf by:

Harry Acland
Director
WEIR QUAY BOATYARD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 31 March 2025
WEIR QUAY BOATYARD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Weir Quay Boatyard Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hewton House, Bere Alston, Yelverton, PL20 7BW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £316,078. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 5 years straight line
Vehicles 5 years straight line
Computer equipment 5 years straight line
Other property, plant and equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Land is not depreciated.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

31.03.2025 31.03.2024
Number Number
Monthly average number of persons employed by the Company during the period, including directors 4 3

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2024 217,669 217,669
At 31 March 2025 217,669 217,669
Accumulated amortisation
At 01 April 2024 66,825 66,825
Charge for the financial period 21,767 21,767
At 31 March 2025 88,592 88,592
Net book value
At 31 March 2025 129,077 129,077
At 31 March 2024 150,844 150,844

4. Tangible assets

Land and buildings Plant and machinery Vehicles Computer equipment Other property, plant
and equipment
Total
£ £ £ £ £ £
Cost
At 01 April 2024 970,577 153,143 29,218 760 0 1,153,698
Additions 0 0 0 0 15,000 15,000
At 31 March 2025 970,577 153,143 29,218 760 15,000 1,168,698
Accumulated depreciation
At 01 April 2024 32,451 84,646 16,021 443 0 133,561
Charge for the financial period 10,543 30,629 5,844 152 500 47,668
At 31 March 2025 42,994 115,275 21,865 595 500 181,229
Net book value
At 31 March 2025 927,583 37,868 7,353 165 14,500 987,469
At 31 March 2024 938,126 68,497 13,197 317 0 1,020,137

5. Debtors

31.03.2025 31.03.2024
£ £
Trade debtors 20,811 11,726
VAT recoverable 2,089 0
Prepayments 9,747 8,504
32,647 20,230

6. Creditors: amounts falling due within one year

31.03.2025 31.03.2024
£ £
Trade creditors 7,710 1,695
Amounts owed to directors 1,441,902 1,427,102
Accruals and deferred income 31,999 38,782
Other taxation and social security 1,158 2,452
Other creditors 1,154 4,787
1,483,923 1,474,818

7. Called-up share capital

31.03.2025 31.03.2024
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

31.03.2025 31.03.2024
£ £
within one year 23,764 23,764
between one and five years 95,056 95,056
after five years 160,240 184,004
279,060 302,824

9. Related party transactions

Transactions with the entity's directors

31.03.2025 31.03.2024
£ £
Amounts owed to directors 1,441,902 1,426,902