Paper Mill Lock Cruises Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05778698

Paper Mill Lock Cruises Limited

Filleted Unaudited Financial Statements

31 March 2025

Paper Mill Lock Cruises Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Paper Mill Lock Cruises Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		38,660		34,397

Current assets

Stocks	5,005	5,533
Cash at bank and in hand	180,858	129,353
	---------	---------
	185,863	134,886

Creditors: amounts falling due within one year	6	67,167		35,982
		---------		---------
Net current assets			118,696		98,904
			---------		---------
Total assets less current liabilities			157,356		133,301
			---------		---------
Net assets			157,356		133,301
			---------		---------

Capital and reserves

Called up share capital	7	100	100
Profit and loss account		157,256	133,201
		---------	---------
Shareholders funds		157,356	133,301
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year 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 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 were approved by the board of directors and authorised for issue on 17 September 2025 , and are signed on behalf of the board by:

Mr E Cox

Director

Company registration number: 05778698

Paper Mill Lock Cruises Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & machinery	-	10% Straight Line & 25% Reducing Balance
Fixtures & fittings	-	20% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 19 (2024: 16 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2024	77,623	10,701	88,324
Additions	3,474	6,631	10,105
	--------	--------	--------
At 31 March 2025	81,097	17,332	98,429
	--------	--------	--------
Depreciation
At 1 April 2024	46,286	7,641	53,927
Charge for the year	4,590	1,252	5,842
	--------	--------	--------
At 31 March 2025	50,876	8,893	59,769
	--------	--------	--------
Carrying amount
At 31 March 2025	30,221	8,439	38,660
	--------	--------	--------
At 31 March 2024	31,337	3,060	34,397
	--------	--------	--------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	6,067	6,162
Accruals and deferred income	5,295	5,448
Corporation tax	9,225	1,796
Social security and other taxes	11,145	7,068
Director loan accounts	32,740	11,948
Other creditors	2,695	3,560
	--------	--------
	67,167	35,982
	--------	--------

7. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	98	98	98	98
Ordinary B shares of £ 1 each	2	2	2	2
	----	----	----	----
	100	100	100	100
	----	----	----	----

8. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	32,173	35,777
Later than 1 year and not later than 5 years	23,229	55,402
	--------	--------
	55,402	91,179
	--------	--------

9. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Directors loan account	(30,000)	(30,000)	( 32,740)	( 11,948)
	--------	--------	--------	--------