Company No: 10364260 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	173,248		135,951
		173,248		135,951
Current assets
Debtors	4	4,560		37,090
Cash at bank and in hand		26,261		0
		30,821		37,090
Creditors: amounts falling due within one year	5	( 129,855)		( 149,891)
Net current liabilities		(99,034)		(112,801)
Total assets less current liabilities		74,214		23,150
Provision for liabilities		( 32,917)		0
Net assets		41,297		23,150
Capital and reserves
Called-up share capital	6	101		100
Profit and loss account		41,196		23,050
Total shareholders' funds		41,297		23,150

For the financial year ending 30 September 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 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 Profit and Loss Account has not been delivered.

The financial statements of St Winnow Yachts Limited (registered number: 10364260) were approved and authorised for issue by the Board of Directors on 25 June 2026. They were signed on its behalf by:

F Stephens Director

S Chapman 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

St Winnow Yachts 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 St. Winnow Barton, Lostwithiel, PL22 0LF, 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 £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for the provision of yacht storage and related services, net of value added tax, discounts and rebates, in accordance with FRS 102 Section 23.

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.

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, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements	not depreciated
Plant and machinery	15 % reducing balance
Vehicles	15 % reducing balance
Fixtures and fittings	15 % reducing balance
Office equipment	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.

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.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		2

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 October 2024	27,556		168,053		49,281		2,907		1,596		249,393
Additions	0		71,409		0		0		0		71,409
Disposals	0		( 42,397)		0		0		0		( 42,397)
At 30 September 2025	27,556		197,065		49,281		2,907		1,596		278,405
Accumulated depreciation
At 01 October 2024	0		90,707		20,929		807		999		113,442
Charge for the financial year	0		17,902		4,253		315		89		22,559
Disposals	0		( 30,844)		0		0		0		( 30,844)
At 30 September 2025	0		77,765		25,182		1,122		1,088		105,157
Net book value
At 30 September 2025	27,556		119,300		24,099		1,785		508		173,248
At 30 September 2024	27,556		77,346		28,352		2,100		597		135,951

4. Debtors

	2025		2024
	£		£
Trade debtors	1,626		786
Corporation tax	0		419
Other debtors	2,934		35,885
	4,560		37,090

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	3,163		18,892
Trade creditors	0		1,608
Taxation and social security	10,625		86
Other creditors	116,067		129,305
	129,855		149,891

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100
1 Preference share of £ 1.00 (2024: - shares of £ 0 each)	1		0
	101		100