Company registration number 12754922 (England and Wales)
ON THE SHORE RESTAURANTS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
ON THE SHORE RESTAURANTS LIMITED
COMPANY INFORMATION
Directors
Mr J B Chitty
(Appointed 24 May 2024)
Mr R M Ryan
(Appointed 24 May 2024)
Mr R N Sawyer
(Appointed 24 May 2024)
Company number
12754922
Registered office
Gorsewood Drive
Hakin
Milford Haven
Pembrokeshire
SA73 3EP
Auditor
UHY Hacker Young
Bradbury House
Mission Court
Newport
Gwent
United Kingdom
NP20 2DW
ON THE SHORE RESTAURANTS LIMITED
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 5
Profit and loss account
6
Balance sheet
7
Statement of changes in equity
8
Notes to the financial statements
9 - 14
ON THE SHORE RESTAURANTS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 1 -
The directors present their annual report and financial statements for the period ended 31 December 2024.
Principal activities
The principal activity of the company continued to be that of fish and chips restaurant. On 24 May 2024, the company's 100% shareholding was acquired by Milford Waterfront Resort Limited. Subsequently on 31 December 2024, the company's trade and assets were transferred to Milford Waterfront Resort Limited, its parent company. As a result the company became dormant.
Directors
The directors who held office during the period and up to the date of signature of the financial statements were as follows:
Mr J B Chitty
(Appointed 24 May 2024)
Mr R M Ryan
(Appointed 24 May 2024)
Mr R N Sawyer
(Appointed 24 May 2024)
Mr A M Evans
(Resigned 24 May 2024)
L E Evans
(Resigned 24 May 2024)
Auditor
UHY Hacker Young were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
Transfer of trade and assets
During the period, on 31 December 2024, the trade of the company was transferred to parent company Milford Waterfront Resort Limited and On The Shore Restaurants Limited ceased trading on this date and became a dormant company.
Assets were also transferred to parent company Milford Waterfront Resort Limited at 31 December 2024. Refer to note 5 for further details.
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr J B Chitty
Director
24 July 2025
ON THE SHORE RESTAURANTS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ON THE SHORE RESTAURANTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ON THE SHORE RESTAURANTS LIMITED
- 3 -
Opinion
We have audited the financial statements of On The Shore Restaurants Limited (the 'company') for the period ended 31 December 2024 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the directors' report has been prepared in accordance with applicable legal requirements.
ON THE SHORE RESTAURANTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ON THE SHORE RESTAURANTS LIMITED (CONTINUED)
- 4 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the relevant sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and health & safety regulations;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
ON THE SHORE RESTAURANTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ON THE SHORE RESTAURANTS LIMITED (CONTINUED)
- 5 -
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial statements, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Other matters which we are required to address
The comparative financial statements are unaudited as the company met the criteria for audit exemption in the the prior year. As part of our audit of the financial statements for the period ended 31 December 2024 we have obtained sufficient evidence that the opening balances do not contain misstatements that materially affect the current period's financial statements.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Mr John Griffiths (Senior Statutory Auditor)
For and on behalf of UHY Hacker Young, Statutory Auditor
Chartered Accountants
Newport
Gwent
United Kingdom
24 July 2025
ON THE SHORE RESTAURANTS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
Period
Period
ended
ended
31 December
23 May
2024
2024
Notes
£
£
Turnover
822,337
192,571
Cost of sales
(453,447)
(117,125)
Gross profit
368,890
75,446
Administrative expenses
(86,525)
(14,207)
Operating profit
282,365
61,239
Interest receivable and similar income
44
Profit on disposal of trade and assets
5
1,514,195
-
Profit before taxation
1,796,560
61,283
Tax on profit
4
(71,228)
(15,402)
Profit for the financial period
1,725,332
45,881
The profit and loss account has been prepared on the basis that all operations were continuing operations until transfer to Milford Waterfront Resort Limited on 31 December 2024.
ON THE SHORE RESTAURANTS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 7 -
31 December 2024
23 May 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
6
2,549
Current assets
Debtors
7
3,362,646
1,696,214
Cash at bank and in hand
35,984
3,362,646
1,732,198
Creditors: amounts falling due within one year
8
(197,714)
(295,147)
Net current assets
3,164,932
1,437,051
Net assets
3,164,932
1,439,600
Capital and reserves
Called up share capital
9
2
2
Profit and loss reserves
3,164,930
1,439,598
Total equity
3,164,932
1,439,600
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 July 2025 and are signed on its behalf by:
Mr J B Chitty
Director
Company registration number 12754922 (England and Wales)
ON THE SHORE RESTAURANTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 8 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2024
2
1,393,717
1,393,719
Period ended 23 May 2024:
Profit and total comprehensive income
-
45,881
45,881
Balance at 23 May 2024
2
1,439,598
1,439,600
Period ended 31 December 2024:
Profit and total comprehensive income
-
1,725,332
1,725,332
Balance at 31 December 2024
2
3,164,930
3,164,932
ON THE SHORE RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 9 -
1
Accounting policies
Company information
On The Shore Restaurants Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gorsewood Drive, Hakin, Milford Haven, Pembrokeshire, SA73 3EP.
1.1
Reporting period
To fall in line with other companies in the group, the directors decided to change the year end to December. These financial statements represent the 7 months and 8 day period to 31 December 2024.
The comparative figures were for the period 1 April 2024 to 23 May 2024.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 financial instruments at fair value]. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Milford Haven Port Authority. These consolidated financial statements are available from its registered office, Gorsewood Drive, Milford Haven, Pembrokeshire, SA73 3EP.
1.3
Going concern
During the period, on 31 December 2024, the trade of the company was transferred to parent company Milford Waterfront Resort Limited and On The Shore Restaurants Limited ceased trading on this date and became dormant.
1.4
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.
ON THE SHORE RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 10 -
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ON THE SHORE RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Given the nature of the company the directors do not believe that there are any critical accounting judgements that are made in the process of applying the company's accounting policies or key sources of estimation uncertainty used in the preparation of the financial statements.
ON THE SHORE RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 12 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
Period
Period
ended
ended
31 December
23 May
2024
2024
Number
Number
Total
5
41
In September 2024, a Transfer of Undertakings (Protection of Employment) Regulations ("TUPE") transfer took place which transferred employees of On The Shore Restaurants Limited to a company in the Celtic Collection group who provide management services to the company.
4
Taxation
Period
Period
ended
ended
31 December
23 May
2024
2024
£
£
Current tax
UK corporation tax on profits for the current period
50,827
15,331
Adjustments in respect of prior periods
71
Total current tax
50,827
15,402
Deferred tax
Origination and reversal of timing differences
20,401
Total tax charge
71,228
15,402
ON THE SHORE RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 13 -
5
Transfer of trade and assets
During the year, on 31 December 2024, the trade of the company was transferred to group company Milford Waterfront Resort Limited and On The Shore Restaurants Limited ceased trading on this date.
Assets were also transferred to group company Milford Waterfront Resort Limited on 31 December 2024. The purchase price for the trade and assets with a book value of £235,805 was £1,750,000 resulting in a profit on disposal of £1,514,195. Assets transferred were as follows:
£
Tangible fixed assets
81,605
Stock
15,852
Other debtors
7,402
Prepayments
4,141
Cash
126,805
235,805
6
Tangible fixed assets
Plant and machinery etc
£
Cost
At 24 May 2024
5,000
Additions
81,215
Disposals
(86,215)
At 31 December 2024
Depreciation and impairment
At 24 May 2024
2,451
Depreciation charged in the period
2,159
Eliminated in respect of disposals
(4,610)
At 31 December 2024
Carrying amount
At 31 December 2024
At 23 May 2024
2,549
ON THE SHORE RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 14 -
7
Debtors
31 December
23 May
2024
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
3,362,646
Other debtors
1,696,214
3,362,646
1,696,214
8
Creditors: amounts falling due within one year
31 December
23 May
2024
2024
£
£
Trade creditors
30,163
86,030
Corporation tax
65,889
139,271
Other taxation and social security
11,644
47,339
Other creditors
90,018
22,507
197,714
295,147
9
Called up share capital
31 December
23 May
31 December
23 May
2024
2024
2024
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
10
Related party transactions
The company has taken advantage of exemption, under the terms of FRS 102, Section 33.1A, from disclosing related party transactions with wholly owned subsidiaries within the group.
At the period end, the company was owed £1,633,047 by St. Bride's Spa Hotel Limited, a fellow subsidiary.
At the period end, the company was owed £1,729,599 by Milford Waterfront Resort Limited, its parent company.
11
Parent company
The immediate and ultimate parent company and ultimate controlling party is Milford Haven Port Authority, a public trust port authority set up as an independent statutory body by Act of Parliament in 1958. The registered address of Milford Haven Port Authority is Gorsewood Drive, Milford Haven, Pembrokeshire, SA73 3EP.
The smallest and largest group of which the company is a member and for which group financial statements are drawn up is that headed by Milford Haven Port Authority.
Copies of the consolidated financial statements of Milford Haven Port Authority are available from the company's registered office: Gorsewood Drive, Milford Haven, Pembrokeshire, SA73 3EP.
2024-12-312024-05-24falsefalsefalseCCH SoftwareCCH Accounts Production 2025.100Mr J B ChittyMr R M RyanMr R N SawyerMr A M EvansL E Evans127549222024-05-242024-12-3112754922bus:Director12024-05-242024-12-3112754922bus:Director22024-05-242024-12-3112754922bus:Director32024-05-242024-12-3112754922bus:Director42024-05-242024-12-3112754922bus:Director52024-05-242024-12-3112754922bus:RegisteredOffice2024-05-242024-12-31127549222024-12-31127549222024-04-012024-05-2312754922core:RetainedEarningsAccumulatedLosses2024-04-012024-05-2312754922core:RetainedEarningsAccumulatedLosses2024-05-242024-12-31127549222024-05-2312754922core:OtherPropertyPlantEquipment2024-12-3112754922core:OtherPropertyPlantEquipment2024-05-2312754922core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3112754922core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-2312754922core:ShareCapital2024-12-3112754922core:ShareCapital2024-05-2312754922core:RetainedEarningsAccumulatedLosses2024-12-3112754922core:RetainedEarningsAccumulatedLosses2024-05-2312754922core:ShareCapital2024-03-3112754922core:RetainedEarningsAccumulatedLosses2024-03-3112754922core:ShareCapitalOrdinaryShareClass12024-12-3112754922core:ShareCapitalOrdinaryShareClass12024-05-2312754922core:PlantMachinery2024-05-242024-12-3112754922core:UKTax2024-05-242024-12-3112754922core:UKTax2024-04-012024-05-2312754922core:OtherPropertyPlantEquipment2024-05-2312754922core:OtherPropertyPlantEquipment2024-05-242024-12-3112754922core:CurrentFinancialInstruments2024-05-2312754922core:WithinOneYear2024-12-3112754922core:WithinOneYear2024-05-2312754922core:CurrentFinancialInstruments2024-12-3112754922bus:OrdinaryShareClass12024-05-242024-12-3112754922bus:OrdinaryShareClass12024-12-3112754922bus:OrdinaryShareClass12024-05-2312754922bus:PrivateLimitedCompanyLtd2024-05-242024-12-3112754922bus:FRS1022024-05-242024-12-3112754922bus:Audited2024-05-242024-12-3112754922bus:FullAccounts2024-05-242024-12-31xbrli:purexbrli:sharesiso4217:GBP