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REGISTERED NUMBER: 06556356 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

McMaster Yachts Limited

McMaster Yachts Limited (Registered number: 06556356)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


McMaster Yachts Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J R M McMaster
Mrs R M Temple





REGISTERED OFFICE: Oak Apple House
North Street
Milborne Port
Sherborne
Dorset
DT9 5EW





BUSINESS ADDRESS: Whiteladies Business Centre
12 Whiteladies Road
Bristol
BS8 1PD





REGISTERED NUMBER: 06556356 (England and Wales)





ACCOUNTANTS: Silbury Accountants Limited
Chartered Accountants
Oak Apple House
North Street
Milborne Port
Sherborne
DT9 5EW

McMaster Yachts Limited (Registered number: 06556356)

Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 16,754 23,501

CURRENT ASSETS
Inventories 55,000 55,000
Debtors 5 223,908 219,461
Cash at bank and in hand 135,678 167,583
414,586 442,044
CREDITORS
Amounts falling due within one year 6 98,941 134,825
NET CURRENT ASSETS 315,645 307,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

332,399

330,720

PROVISIONS FOR LIABILITIES 2,104 -
NET ASSETS 330,295 330,720

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 330,294 330,719
SHAREHOLDERS' FUNDS 330,295 330,720

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

McMaster Yachts Limited (Registered number: 06556356)

Statement of Financial Position - continued
31 December 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:





J R M McMaster - Director


McMaster Yachts Limited (Registered number: 06556356)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

McMaster Yachts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and Straight line over 3 years

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

McMaster Yachts Limited (Registered number: 06556356)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Client funds
The company holds a Euro bank account and a US Dollar bank account solely for client funds relating to chartering yachts. These have been set up as trust accounts and the bank do not have a right of set off in respect of these accounts and the Company's other bank accounts held. Accordingly these are not considered to be assets of the Company and have not been included in the accounts of the Company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 32,996
DEPRECIATION
At 1 January 2024 9,495
Charge for year 6,747
At 31 December 2024 16,242
NET BOOK VALUE
At 31 December 2024 16,754
At 31 December 2023 23,501

5. DEBTORS
31.12.24 31.12.23
£    £   
Amounts falling due within one year:
Trade debtors 5,713 5,595
Other debtors 40,021 42,324
45,734 47,919

Amounts falling due after more than one year:
Amounts owed by associates 178,174 171,542

Aggregate amounts 223,908 219,461

Amounts due after one year relate to the associated company McMaster SL Loan which is not expected to be repaid within one year.

McMaster Yachts Limited (Registered number: 06556356)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts - 25,108
Trade creditors 11,326 9,336
Taxation and social security 32,920 27,234
Other creditors 54,695 73,147
98,941 134,825

7. SECURED DEBTS

The Director, J R M McMaster has provided a personal guarantee in respect of the bank overdraft amounting to £20,000.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
1 Ordinary £1 1 1

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
J R M McMaster
Balance outstanding at start of year 34,995 85,093
Amounts advanced 39,980 35,902
Amounts repaid (36,693 ) (86,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,282 34,995

The director has operated a current account during the year. Interest has been charged at a rate of 2.25%.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £89,766 (2023 - £101,500) were paid to the directors .

11. POST BALANCE SHEET EVENTS

A dividend of £38,282 was declared 20 August 2025 to clear the overdrawn directors' loan account.