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Registration number: 03720811

Weymouth Watercraft Limited
Annual Report and Unaudited Financial Statements Year Ended 31 March 2025

Chartered Accountants

Weymouth Watercraft Limited

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3
Notes to the Financial Statements | 4 to 6

Weymouth Watercraft Limited

Company Information

Director | Mr P Jones

Company secretary | Mrs H Jones

Registered office | Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

Accountants | Edwards and Keeping Limited Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Weymouth Watercraft Limitedfor the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Weymouth Watercraft Limited for the year ended 31 March 2025 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Weymouth Watercraft Limited, as a body, in accordance with the terms of our engagement letter dated 17 October 2024. Our work has been undertaken solely to prepare for your approval the accounts of Weymouth Watercraft Limited and state those matters that we have agreed to state to the Board of Directors of Weymouth Watercraft Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Weymouth Watercraft Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Weymouth Watercraft Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Weymouth Watercraft Limited. You consider that Weymouth Watercraft Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Weymouth Watercraft Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Edwards and Keeping Limited
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

7 October 2025

Weymouth Watercraft Limited

(Registration number: 03720811)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investment property | 4 | 250,000 | 250,000
Current assets |  |  |
Debtors | 5 | 142,223 | 143,809
Cash at bank and in hand |  | 62,830 | 50,901
|  | 205,053 | 194,710
Creditors: Amounts falling due within one year | 6 | (53,986) | (48,621)
Net current assets |  | 151,067 | 146,089
Total assets less current liabilities |  | 401,067 | 396,089
Provisions for liabilities |  | (41,623) | (41,623)
Net assets |  | 359,444 | 354,466
Capital and reserves |  |  |
Called up share capital |  | 60 | 60
Fair value reserve |  | 162,783 | 162,783
Profit and loss account |  | 196,601 | 191,623
Shareholders' funds |  | 359,444 | 354,466

For the financial 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.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 October 2025

Mr P Jones
Director

Weymouth Watercraft Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025

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:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
England

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Weymouth Watercraft Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4 | Investment properties

| 2025 £
At 1 April 2024 | 250,000
At 31 March 2025 | 250,000

The investment properties class of fixed assets were adjusted on 31 March 2025 to fair value by Mr P Jones, who is internal to the company. The basis of the valuation was open market value.

The class of assets has a current value of £250,000 (2024 £250,000) and a carrying amount at historical cost of £56,594 (2024 £56,594). The depreciation on this historical cost is nil (2024 £nil).
There has been no valuation of investment property by an independent valuer.

5 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | - | 1,585
Other debtors | 142,223 | 142,224
| 142,223 | 143,809

Weymouth Watercraft Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Taxation and social security | 69 | 1,575
Other creditors | 53,917 | 47,046
| 53,986 | 48,621

7 | Related party transactions

Other transactions with the director

During the year the director maintained an interest free loan, which is repayable on demand. At the balance sheet date the amount due to the director was £51,439 (2024 - £44,591).