Registration number: 03395740

Ward & McKenzie (Yacht Consultants) Limited

Contents

Company Information	1
Abridged Balance Sheet	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 9

Ward & McKenzie (Yacht Consultants) Limited

Company Information

Directors

P Collett Ian Collett

Company secretary

Philippa Collett

Registered office

Dunningworth Hall Tunstall Woodbridge Suffolk IP12 2EQ

Accountants

Mr Peter Duley, AIMS Accountants for Business Association of Chartered Certified Accountants2 Goldfinch Way Brantham Manningtree CO11 1GY

Ward & McKenzie (Yacht Consultants) Limited

(Registration number: 03395740)
Abridged Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,632	2,164
Current assets
Debtors		24,416	40,480
Cash at bank and in hand		63,981	112,277
		88,397	152,757
Prepayments and accrued income		2,527	2,933
Creditors: Amounts falling due within one year		(3,040)	(22,422)
Net current assets		87,884	133,268
Total assets less current liabilities		89,516	135,432
Provisions for liabilities		(83)	(84)
Accruals and deferred income		282	(124)
Net assets		89,715	135,224
Capital and reserves
Called up share capital	5	100	100
Retained earnings		89,615	135,124
Shareholders' funds		89,715	135,224

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Ward & McKenzie (Yacht Consultants) Limited

(Registration number: 03395740)
Abridged Balance Sheet as at 31 July 2025 (continued)

Approved and authorised by the Board on 29 October 2025 and signed on its behalf by:
 

......................................... Ian Collett Director

Ward & McKenzie (Yacht Consultants) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Dunningworth Hall
Tunstall
Woodbridge
Suffolk
IP12 2EQ

These financial statements were authorised for issue by the Board on 29 October 2025.

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 abridged 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 abridged 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.

Ward & McKenzie (Yacht Consultants) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2025 (continued)

2	Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% on reducing balance
Fixtures and fittings	25% on reducing balance

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.

Ward & McKenzie (Yacht Consultants) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2025 (continued)

2	Accounting policies (continued)

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Ward & McKenzie (Yacht Consultants) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2025 (continued)

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Ward & McKenzie (Yacht Consultants) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2025 (continued)

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Total £
Cost or valuation
At 1 August 2024	13,227	7,484	20,711
At 31 July 2025	13,227	7,484	20,711
Depreciation
At 1 August 2024	11,489	7,058	18,547
Charge for the year	426	106	532
At 31 July 2025	11,915	7,164	19,079
Carrying amount
At 31 July 2025	1,312	320	1,632
At 31 July 2024	1,738	426	2,164

5	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

6

Dividends

Interim dividends paid

		2025 £		2024 £
Interim dividend of £240.00 (2024 - £225.00) per each Ordinary		24,000		22,500

7	Related party transactions

Ward & McKenzie (Yacht Consultants) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2025 (continued)

7	Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	12,000	12,000