Company No: 04681682 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	0		817
Tangible assets	4	171,752		142,782
		171,752		143,599
Current assets
Stocks		707,989		391,413
Debtors	5	537,766		617,871
Cash at bank and in hand		136,532		357,541
		1,382,287		1,366,825
Creditors: amounts falling due within one year	6	( 1,167,224)		( 1,225,214)
Net current assets		215,063		141,611
Total assets less current liabilities		386,815		285,210
Creditors: amounts falling due after more than one year	7	( 77,498)		( 91,164)
Provision for liabilities		( 42,304)		( 35,021)
Net assets		267,013		159,025
Capital and reserves
Called-up share capital	8	120		120
Profit and loss account		266,893		158,905
Total shareholder's funds		267,013		159,025

For the financial year ending 31 August 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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Yeoward Boatyards Limited (registered number: 04681682) were approved and authorised for issue by the Director on 24 December 2025. They were signed on its behalf by:

Mrs A L Yeoward Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Yeoward Boatyards Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 14 Island Street, Salcombe, Devon, TQ8 8DP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

20 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 20 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	5 % reducing balance
Vehicles	20 % reducing balance
Fixtures and fittings	10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	19		17

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 September 2024	1,170,951		1,170,951
At 31 August 2025	1,170,951		1,170,951
Accumulated amortisation
At 01 September 2024	1,170,134		1,170,134
Charge for the financial year	817		817
At 31 August 2025	1,170,951		1,170,951
Net book value
At 31 August 2025	0		0
At 31 August 2024	817		817

4. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 September 2024	164,536		35,950		141,962		342,448
Additions	0		42,500		8,136		50,636
At 31 August 2025	164,536		78,450		150,098		393,084
Accumulated depreciation
At 01 September 2024	69,900		13,680		116,086		199,666
Charge for the financial year	5,308		12,954		3,404		21,666
At 31 August 2025	75,208		26,634		119,490		221,332
Net book value
At 31 August 2025	89,328		51,816		30,608		171,752
At 31 August 2024	94,636		22,270		25,876		142,782

5. Debtors

	2025		2024
	£		£
Trade debtors	160,302		213,951
Amounts owed by Group undertakings	329,508		348,372
Prepayments and accrued income	47,956		55,548
	537,766		617,871

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	7,910		10,310
Trade creditors	171,849		285,873
Taxation and social security	103,615		101,828
Other creditors	883,850		827,203
	1,167,224		1,225,214

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		7,910
Other creditors	77,498		83,254
	77,498		91,164

There are no amounts included above in respect of which any security has been given by the small entity.

The company's bank overdraft is secured by a fixed and floating charge over all of the company's assets created on 16 August 2019.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
120 Ordinary shares of £ 1.00 each	120		120

9. Financial commitments

Other financial commitments

	2025		2024
	£		£
Financial commitments not included in the balance sheet	442,800		477,900

In the year ended 31 August 2024, the company entered into lease agreements with their parent entity Yeoward Holdings Limited.

10. Related party transactions

Transactions with owners holding a participating interest in the entity

	2025		2024
	£		£
Yeoward Moorings Limited	494,458		409,066
Breakwater Bay Limited	311,509		323,626
Yeoward Holdings Limited	(329,508)		(348,372)

Yeoward Moorings Limited and Breakwater Bay Limited have identical officers and are controlled by the same shareholders. The balances shown above represent the loan balances between the companies as at 31 August 2025.

11. Ultimate controlling party

Parent Company:

Yeoward Holdings Limited

14 Island Street Salcombe Devon TQ8 8DP