REGISTERED NUMBER: 11366001 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

Smithwood Narrowboats Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C Smith

SECRETARY:

REGISTERED OFFICE:

The Moorings

West Haddon Road

Crick

Northampton

NN6 7SQ

REGISTERED NUMBER:

11366001 (England and Wales)

FIXED ASSETS

Tangible assets

4

691,502

3,219

CURRENT ASSETS

Stocks

144,612

242,750

Debtors

5

27,491

13,376

Cash at bank

25,583

-

197,686

256,126

CREDITORS

Amounts falling due within one year

6

335,687

219,576

NET CURRENT (LIABILITIES)/ASSETS

(138,001

)

36,550

TOTAL ASSETS LESS CURRENT LIABILITIES

553,501

39,769

CREDITORS

Amounts falling due after more than one year

7

(547,414

)

(33,270

)

PROVISIONS FOR LIABILITIES

(702

)

-

NET ASSETS

5,385

6,499

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

5,384

6,498

5,385

6,499

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 May 2026 and were signed by:

C Smith - Director

1.	STATUTORY INFORMATION

Smithwood Narrowboats Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost, 25% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2024

-

21,192

21,192

Additions

690,585

7,063

697,648

Disposals

-

(929

)

(929

)

At 31 May 2025

690,585

27,326

717,911

DEPRECIATION

At 1 June 2024

-

17,973

17,973

Charge for year

8,057

1,308

9,365

Eliminated on disposal

-

(929

)

(929

)

At 31 May 2025

8,057

18,352

26,409

NET BOOK VALUE

At 31 May 2025

682,528

8,974

691,502

At 31 May 2024

-

3,219

3,219

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade debtors

10,000

-

Other debtors

17,491

13,376

27,491

13,376

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans and overdrafts

39,659

17,962

Trade creditors

102,675

110,811

Taxation and social security

56,321

45,531

Other creditors

137,032

45,272

335,687

219,576

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans

547,414

33,270

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

393,511

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.25

31.5.24

£

£

Bank loans

449,726

-

Included within bank loans is a loan secured by a first legal charge over the company's freehold commercial property and is repayable by monthly installments over a period of 20 years. The loan is additionally supported by a personal guarantee from the director.