Silverfin false false 31/12/2025 01/01/2025 31/12/2025 Sara Stirling 08/07/2016 William Nelson Charles Stirling 08/07/2016 02 April 2026 The principal activity of the Company during the financial year was that of a boatyard. 10269003 2025-12-31 10269003 bus:Director1 2025-12-31 10269003 bus:Director2 2025-12-31 10269003 2024-12-31 10269003 core:CurrentFinancialInstruments 2025-12-31 10269003 core:CurrentFinancialInstruments 2024-12-31 10269003 core:ShareCapital 2025-12-31 10269003 core:ShareCapital 2024-12-31 10269003 core:RetainedEarningsAccumulatedLosses 2025-12-31 10269003 core:RetainedEarningsAccumulatedLosses 2024-12-31 10269003 core:Goodwill 2024-12-31 10269003 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-12-31 10269003 core:Goodwill 2025-12-31 10269003 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2025-12-31 10269003 core:Vehicles 2024-12-31 10269003 core:FurnitureFittings 2024-12-31 10269003 core:Vehicles 2025-12-31 10269003 core:FurnitureFittings 2025-12-31 10269003 2023-12-31 10269003 bus:OrdinaryShareClass1 2025-12-31 10269003 2025-01-01 2025-12-31 10269003 bus:FilletedAccounts 2025-01-01 2025-12-31 10269003 bus:SmallEntities 2025-01-01 2025-12-31 10269003 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 10269003 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 10269003 bus:Director1 2025-01-01 2025-12-31 10269003 bus:Director2 2025-01-01 2025-12-31 10269003 core:Goodwill core:TopRangeValue 2025-01-01 2025-12-31 10269003 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2025-01-01 2025-12-31 10269003 core:Goodwill 2025-01-01 2025-12-31 10269003 core:Vehicles 2025-01-01 2025-12-31 10269003 core:FurnitureFittings 2025-01-01 2025-12-31 10269003 2024-01-01 2024-12-31 10269003 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 10269003 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 10269003 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10269003 (England and Wales)

# TRELUGGAN BOATYARD LTD

### Unaudited Financial Statements
For the financial year ended 31 December 2025
Pages for filing with the registrar

TRELUGGAN BOATYARD LTD

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

TRELUGGAN BOATYARD LTD

## STATEMENT OF FINANCIAL POSITION

As at 31 December 2025
TRELUGGAN BOATYARD LTD

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 15,980 |  | 31,410
Tangible assets | 4 | 128,287 |  | 72,755
|  | 144,267 |  | 104,165
Current assets |  |  |  |
Stocks |  | 47,850 |  | 48,850
Debtors | 5 | 62,788 |  | 221,155
Cash at bank and in hand |  | 11,712 |  | 45,504
|  | 122,350 |  | 315,509
Creditors: amounts falling due within one year | 6 | ( 87,582) |  | ( 92,060)
Net current assets |  | 34,768 |  | 223,449
Total assets less current liabilities |  | 179,035 |  | 327,614
Provision for liabilities | 7 | ( 30,400) |  | ( 14,052)
Net assets |  | 148,635 |  | 313,562
Capital and reserves |  |  |  |
Called-up share capital | 8 | 1 |  | 1
Profit and loss account |  | 148,634 |  | 313,561
Total shareholder's funds |  | 148,635 |  | 313,562

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 Treluggan Boatyard Ltd (registered number: 10269003) were approved and authorised for issue by the Board of Directors on 02 April 2026. They were signed on its behalf by:

Sara Stirling Director |

TRELUGGAN BOATYARD LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
TRELUGGAN BOATYARD LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025

##### 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

Treluggan Boatyard Ltd (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 Treluggan Boatyard, Landrake, Saltash, PL12 5ES, 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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### 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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### 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 | 10 years straight line
Website costs | 5 years straight line

###### Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 10 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 reducing balance basis over its expected useful life, as follows:

Vehicles | 25 % reducing balance
Fixtures and fittings | 15 % 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.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position 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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### 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.

##### Ordinary share capital

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

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 5 |  | 5

#### 3. Intangible assets

| Goodwill |  | Website costs |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 January 2025 | 150,000 |  | 2,150 |  | 152,150
At 31 December 2025 | 150,000 |  | 2,150 |  | 152,150
Accumulated amortisation |  |  |  |  |
At 01 January 2025 | 120,000 |  | 740 |  | 120,740
Charge for the financial year | 15,000 |  | 430 |  | 15,430
At 31 December 2025 | 135,000 |  | 1,170 |  | 136,170
Net book value |  |  |  |  |
At 31 December 2025 | 15,000 |  | 980 |  | 15,980
At 31 December 2024 | 30,000 |  | 1,410 |  | 31,410

#### 4. Tangible assets

| Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 January 2025 | 45,800 |  | 173,534 |  | 219,334
Additions | 0 |  | 67,691 |  | 67,691
At 31 December 2025 | 45,800 |  | 241,225 |  | 287,025
Accumulated depreciation |  |  |  |  |
At 01 January 2025 | 33,339 |  | 113,240 |  | 146,579
Charge for the financial year | 3,115 |  | 9,044 |  | 12,159
At 31 December 2025 | 36,454 |  | 122,284 |  | 158,738
Net book value |  |  |  |  |
At 31 December 2025 | 9,346 |  | 118,941 |  | 128,287
At 31 December 2024 | 12,461 |  | 60,294 |  | 72,755

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 9,476 |  | 10,664
Amounts owed by Group undertakings | 45,048 |  | 200,971
Prepayments | 8,264 |  | 9,520
| 62,788 |  | 221,155

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 10,868 |  | 2,188
Amounts owed to Group undertakings | 37,332 |  | 44,332
Accruals | 6,904 |  | 35,017
Taxation and social security | 31,422 |  | 9,965
Other creditors | 1,056 |  | 558
| 87,582 |  | 92,060

#### 7. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 14,052) |  | ( 42,297)
(Charged)/credited to the Statement of Income and Retained Earnings | ( 16,348) |  | 28,245
At the end of financial year | ( 30,400) |  | ( 14,052)

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
10 Ordinary shares of £ 0.10 each | 1 |  | 1

#### 9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

| 2025 |  | 2024
| £ |  | £
Unpaid contributions due to the fund (inc. in other creditors) | 1,056 |  | 558

#### 10. Related party transactions

The company has taken advantage of disclosure exemption in FRS102 1A section 33.1A and not disclosed transactions with 100% owned group companies.