Registration number: 06702146

Sally Narrowboats Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Financial Statements	5 to 11

Sally Narrowboats Limited

Company Information

Directors	D J Medlock I C Bascombe

Registered office

Suite 4 St Georges Lodge 33 Oldfield Road Bath Banes BA2 3NE

Bankers

HSBC Plc Old Town Hall Bradford On Avon Wiltshire BA15 1LS

Accountants

Kennedy Legg Stafford House 10 Prince Of Wales Road Dorchester Dorset DT1 1PW

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Sally Narrowboats Limited
for the Period Ended 30 April 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sally Narrowboats Limited for the period ended 30 April 2025 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Sally Narrowboats Limited, as a body, in accordance with the terms of our engagement letter dated 12 July 2010. Our work has been undertaken solely to prepare for your approval the accounts of Sally Narrowboats Limited and state those matters that we have agreed to state to the Board of Directors of Sally Narrowboats Limited.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sally Narrowboats Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Sally Narrowboats 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 Sally Narrowboats Limited. You consider that Sally Narrowboats Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Sally Narrowboats 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.

......................................

Kennedy Legg
 
Stafford House
10 Prince Of Wales Road
Dorchester
Dorset
DT1 1PW

28 April 2026

Sally Narrowboats Limited

(Registration number: 06702146)
Balance Sheet as at 30 April 2025

	Note	2025 £	2023 £
Fixed assets
Tangible assets	4	-	240,009
Current assets
Stocks	5	-	19,683
Debtors	6	333,823	191,714
Cash at bank and in hand		1,622	211,765
		335,445	423,162
Creditors: Amounts falling due within one year	7	(483,496)	(773,315)
Net current liabilities		(148,051)	(350,153)
Total assets less current liabilities		(148,051)	(110,144)
Provisions for liabilities		-	(45,602)
Net liabilities		(148,051)	(155,746)
Capital and reserves
Called up share capital	8	1,000	1,000
Retained earnings		(149,051)	(156,746)
Shareholders' deficit		(148,051)	(155,746)

For the financial period ending 30 April 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 period 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.

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.

Sally Narrowboats Limited

(Registration number: 06702146)
Balance Sheet as at 30 April 2025

Approved and authorised by the Board on 28 April 2026 and signed on its behalf by:
 

......................................... I C Bascombe Director

Sally Narrowboats Limited

Notes to the Financial Statements for the Period from 1 November 2023 to 30 April 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:
Suite 4 St Georges Lodge
33 Oldfield Road
Bath
Banes
BA2 3NE
United Kingdom

The principal place of business is:
Unit 3A The Chandlery Marina
Widbrook
Bradford on Avon
Wiltshire
BA15 1UD

These financial statements were authorised for issue by the Board on 28 April 2026.

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 deferred 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.

Sally Narrowboats Limited

Notes to the Financial Statements for the Period from 1 November 2023 to 30 April 2025

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	20% reducing balance basis/ nil
Fixtures and fittings	15% reducing balance basis
Motor vehicles	25% reducing balance basis
Office equipment	33.3% straight line basis

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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Sally Narrowboats Limited

Notes to the Financial Statements for the Period from 1 November 2023 to 30 April 2025

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.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 10 (2023 - 18).

Sally Narrowboats Limited

Notes to the Financial Statements for the Period from 1 November 2023 to 30 April 2025

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 November 2023	12,462	280,430	6,635	1,500	301,027
Additions	11,238	111,746	-	-	122,984
Disposals	(23,700)	(392,176)	(6,635)	(1,500)	(424,011)
At 30 April 2025	-	-	-	-	-
Depreciation
At 1 November 2023	8,870	44,948	5,700	1,500	61,018
Charge for the period	2,805	1,760	664	-	5,229
Eliminated on disposal	(11,675)	(46,708)	(6,364)	(1,500)	(66,247)
At 30 April 2025	-	-	-	-	-
Carrying amount
At 30 April 2025	-	-	-	-	-
At 31 October 2023	3,592	235,482	935	-	240,009

5

Stocks

	2025 £	2023 £
Other inventories	-	19,683

6

Debtors

Current	2025 £	2023 £
Trade debtors	1,969	69,900
Prepayments	-	40,355
Other debtors	331,854	81,459
	333,823	191,714

Sally Narrowboats Limited

Notes to the Financial Statements for the Period from 1 November 2023 to 30 April 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2023 £
Due within one year
Trade creditors	11,079	60,274
Taxation and social security	8,439	34,480
Accruals and deferred income	-	41,284
Other creditors	463,978	637,277
	483,496	773,315

8	Share capital

Allotted, called up and fully paid shares

	2025		2023
	No.	£	No.	£
Ordinary shares of £1 each	1,000	1,000	1,000	1,000

Sally Narrowboats Limited

Notes to the Financial Statements for the Period from 1 November 2023 to 30 April 2025

9	Related party transactions

Summary of transactions with parent

Anglo Welsh (Holdings) Limited
During the year, the company received a loan from the parent company.

The loan was repaid within one year.

Summary of transactions with other related parties

M B Energy Management is a partnership in which the partners include M Barrington (director/shareholder).

Energy Management Matters LLP is a partnership in which the partners include G M Weston (shareholder).

Anglo Welsh Limited is a fellow subsidiary undertaking.
During the previous year, the company was charged boat sponsorship costs by Energy Management Matters LLP and M B Energy Management.

During the year, the company advanced a loan to Anglo Welsh Limited.

Expenditure with and payables to related parties

2023	Other related parties £
Rendering of services	25,879
Amounts payable to related party	1,657

Loans to related parties

2025	Other related parties £	Total £
Advanced	331,854	331,854
At end of period	331,854	331,854

Sally Narrowboats Limited

Notes to the Financial Statements for the Period from 1 November 2023 to 30 April 2025

Loans from related parties

2025	Parent £	Other related parties £	Total £
At start of period	-	574,293	574,293
Advanced	463,634	-	463,634
Repaid	-	(326,105)	(326,105)
Impairment	-	(248,188)	(248,188)
At end of period	463,634	-	463,634

2023	Other related parties £	Total £
At start of period	574,293	574,293
Repaid	(8,621)	(8,621)
Interest transactions	8,621	8,621
At end of period	574,293	574,293

Material items of income and expense

Included within other operating income is £248,188 relating to the waiver of loans by related parties, Energy Management Matters LLP and MB Energy Management.

These amounts have been recognised as income in the year as the liabilities are no longer payable.