Company registration number 02259233 (England and Wales)
Bithell Boats Limited
Unaudited Financial Statements
For the year ended 30 April 2025
Bithell Boats Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
Bithell Boats Limited
Balance sheet
As at 30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
430,268
497,566
Investments
5
2
2
430,270
497,568
Current assets
Stocks
13,532
14,577
Debtors
6
571,022
663,364
Cash at bank and in hand
148,826
97,050
733,380
774,991
Creditors: amounts falling due within one year
7
(277,945)
(338,638)
Net current assets
455,435
436,353
Total assets less current liabilities
885,705
933,921
Creditors: amounts falling due after more than one year
8
(38,638)
(39,688)
Provisions for liabilities
(105,948)
(120,943)
Net assets
741,119
773,290
Capital and reserves
Called up share capital
70,000
70,000
Revaluation reserve
9
107,033
110,915
Profit and loss reserves
564,086
592,375
Total equity
741,119
773,290
Bithell Boats Limited
Balance sheet (continued)
As at 30 April 2025
- 2 -

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 April 2026 and are signed on its behalf by:
Mr B D Clarke
Director
Company registration number 02259233 (England and Wales)
Bithell Boats Limited
Notes to the financial statements
For the year ended 30 April 2025
- 3 -
1
Accounting policies
Company information

Bithell Boats Limited is a private company limited by shares incorporated in England and Wales. The registered office is Souters Lane, The Groves, Chester, Cheshire, England, CH1 1SD.

1.1
Reporting period

Bithell Boats Limited's previous financial year was extended by one month to the 30 April 2024.

The change in the company year end date was made in order to align with the change made in the annual year end date of the holding company Chester Boat Company Limited.

As a result of the change in year end the comparative amounts presented within these financial statements (including the related notes) are not entirely comparable.

1.2
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Revenue

Turnover represents income generated from the operation of inland water transport and commercial boat services, net of value added tax where applicable, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Consideration in respect of inland waterway transport bookings and events is recognised in the accounting period in which the services are provided. Consideration from advance bookings is deferred to future periods and provided as a basic financial liability.

Consideration from contracts for the provision of commercial boat services is recognised by reference to the contract stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

1.4
Intangible fixed assets - goodwill

Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the balance sheet and amortised over its estimated useful economic life up to a maximum of 10 years. This length of time is presumed to be the maximum useful life of purchased goodwill because it is difficult to make projections beyond this period.

Useful economic lives are reviewed at the end of each reporting period and revised if necessary with the effect of any revision being spread over the revised life. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Bithell Boats Limited
Notes to the financial statements (continued)
For the year ended 30 April 2025
1
Accounting policies
(Continued)
- 4 -

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold
2% straight line on cost
Plant and machinery
20% & 3.5% on reducing balance basis
Fixtures, fittings & equipment
20% reducing balance basis
Motor vehicles
25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

Bithell Boats Limited
Notes to the financial statements (continued)
For the year ended 30 April 2025
1
Accounting policies
(Continued)
- 5 -
1.9
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 current liabilities.

1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. As all financial assets are classified within one year they not amortised but carried at face value.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, and loans from fellow group are initially recognised at transaction price. Financial liabilities classified as payable within one year are carried at face value.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and continue to be measured at face value.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Bithell Boats Limited
Notes to the financial statements (continued)
For the year ended 30 April 2025
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

1.15
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Bithell Boats Limited
Notes to the financial statements (continued)
For the year ended 30 April 2025
- 7 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
30
29
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2024 and 30 April 2025
292,000
Amortisation and impairment
At 1 May 2024 and 30 April 2025
292,000
Carrying amount
At 30 April 2025
-
0
At 30 April 2024
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2024
5,000
1,491,103
1,496,103
Additions
-
0
51,008
51,008
Disposals
-
0
(107,244)
(107,244)
At 30 April 2025
5,000
1,434,867
1,439,867
Depreciation and impairment
At 1 May 2024
-
0
998,537
998,537
Depreciation charged in the year
-
0
62,662
62,662
Eliminated in respect of disposals
-
0
(51,600)
(51,600)
At 30 April 2025
-
0
1,009,599
1,009,599
Carrying amount
At 30 April 2025
5,000
425,268
430,268
At 30 April 2024
5,000
492,566
497,566
Bithell Boats Limited
Notes to the financial statements (continued)
For the year ended 30 April 2025
- 8 -
5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
2
2
Fixed asset investments not carried at market value

The company's fixed asset investment is in shares of the group undertaking Commercial Boat Services Limited, which is a dormant company and is valued at the original acquisition cost of the share capital held.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
154,760
203,912
Amounts owed by group undertakings
359,257
381,585
Other debtors
57,005
77,867
571,022
663,364
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,430
10,199
Trade creditors
67,953
93,551
Taxation and social security
112,484
147,922
Other creditors
87,078
86,966
277,945
338,638

Within other creditors are net obligations due under finance lease and hire purchase contracts which are secured by fixed charges on the assets concerned.

The amounts outstanding as at 30 April 2025 were £26,117 (2024 £40,749).

8
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
1,757
12,253
Obligations under finance leases
36,881
27,435
38,638
39,688
Bithell Boats Limited
Notes to the financial statements (continued)
For the year ended 30 April 2025
8
Creditors: amounts falling due after more than one year
(Continued)
- 9 -

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

9
Revaluation reserve

Certain assets within the tangible fixed assets plant and machinery category were revalued in 2002. In adopting FRS 102 1A the company directors decided to use this revalued amount as the deemed cost of these particular assets.

An amount of £3,882 equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets has been transferred from the revaluation reserve to the profit and loss reserve.

10
Related party transactions

Chester Boat Company Limited (Parent Company)

At the balance sheet date Chester Boat Company Limited owed Bithell Boats Limited £359,257 (2024 £381,585). The balances concerned were interest free and repayable upon demand.

Mr B D Clarke & Mrs R J Clarke : Directors

Other creditors includes an amount due to the directors of £3,604 (2024 Nil). The balance was interest free and repayable on demand.

11
Parent company

The parent company is Chester Boat Company Limited a company incorporated in England and Wales.

The ultimate controlling party is Chester Boats EOT Limited a company incorporated in England and Wales with a registered office address of : Souters Lane, The Groves, Chester, England, CH1 1SD.

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