Company registration number SC450878 (Scotland)
HALTON CHARTERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
HALTON CHARTERS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
HALTON CHARTERS LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF HALTON CHARTERS LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Halton Charters Limited for the year ended 31 December 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Halton Charters Limited, as a body, in accordance with the terms of our engagement letter dated 14 January 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Halton Charters Limited and state those matters that we have agreed to state to the Board of Directors of Halton Charters Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Halton Charters Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Halton Charters Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Halton Charters Limited. You consider that Halton Charters Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Halton Charters 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 f inancial statements.

A.J.B. Scholes Ltd
Chartered Accountants
8 Albert Street
Kirkwall
Orkney
KW15 1HP
10 June 2026
HALTON CHARTERS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
215
431
Tangible assets
4
696,493
641,404
696,708
641,835
Current assets
Stocks
1,250
2,500
Debtors
5
18,635
15,282
Cash at bank and in hand
75,944
11,734
95,829
29,516
Creditors: amounts falling due within one year
6
(168,230)
(203,124)
Net current liabilities
(72,401)
(173,608)
Total assets less current liabilities
624,307
468,227
Creditors: amounts falling due after more than one year
7
(136,429)
(40,174)
Provisions for liabilities
8
(89,280)
(94,000)
Government grants
9
(48,125)
(49,500)
Net assets
350,473
284,553
Capital and reserves
Called up share capital
10
1
1
Profit and loss reserves
350,472
284,552
Total equity
350,473
284,553
HALTON CHARTERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 3 -

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

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 10 June 2026
Mr R Anderson
Director
Company registration number SC450878 (Scotland)
HALTON CHARTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -
1
Accounting policies
Company information

Halton Charters Limited is a private company limited by shares incorporated in Scotland. The registered office is 17 Graham Place, Stromness, Orkney, KW16 3BY.

1.1
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.

1.2
Revenue

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.

The company recognises revenue from the following major sources:

- Boat hire and related services

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Boat hire and related services

Revenue from the provision of services - typically a boat charter of up to one week's duration - is recognised when the charter service is provided.

1.3
Intangible fixed assets other than goodwill

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
20% straight line basis
1.4
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.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
2.5% - 50% straight line basis
Computer equipment
25% reducing balance basis
Motor vehicles
25% reducing balance basis

Assets in the course of construction are not depreciated.

HALTON CHARTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -

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.

1.5
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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) 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. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost comprises direct materials and, where applicable, those overheads that have been incurred in bringing the stocks to their present location and condition.

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 sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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.

HALTON CHARTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 subsequently measured at amortised cost using the effective interest method.

1.9
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.

1.10
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.

HALTON CHARTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 7 -
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.

1.11
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.

1.12
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2
Employees

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

2025
2024
Number
Number
Total
1
1
HALTON CHARTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
3
Intangible fixed assets
Software
£
Cost
At 1 January 2025 and 31 December 2025
5,928
Amortisation and impairment
At 1 January 2025
5,497
Amortisation charged for the year
216
At 31 December 2025
5,713
Carrying amount
At 31 December 2025
215
At 31 December 2024
431
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2025
768,635
Additions
87,024
Disposals
(5,500)
At 31 December 2025
850,159
Depreciation and impairment
At 1 January 2025
127,231
Depreciation charged in the year
31,385
Eliminated in respect of disposals
(4,950)
At 31 December 2025
153,666
Carrying amount
At 31 December 2025
696,493
At 31 December 2024
641,404
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
4,702
Other debtors
18,635
10,580
18,635
15,282
HALTON CHARTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
49,638
31,337
Trade creditors
535
6,045
Taxation and social security
2,828
-
0
Other creditors
115,229
165,742
168,230
203,124

The company has granted to Bank of Scotland PLC fixed and floating charges and a negative pledge, as security for amounts repayable to the Bank under a term loan arrangement and overdraft facility.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
136,429
40,174

The company has granted to Bank of Scotland PLC fixed and floating charges and a negative pledge, as security for amounts repayable to the Bank under a term loan arrangement.

8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
89,280
94,000
9
Government grants
2025
2024
£
£
Arising from government grants
48,125
49,500

The company has received a capital grant which is deferred and then released to the profit & loss account in stages over the estimated useful life of the related assets.

10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
HALTON CHARTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
11
Directors' transactions

Interest free loans have been granted by the company to its directors as follows:

Loans
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Mr R Anderson - Interest free loan
-
-
8,379
8,379
-
8,379
8,379
2025-12-31 2025-01-01 false false false 10 June 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr R Anderson SC450878 2025-01-01 2025-12-31 SC450878 2025-12-31 SC450878 2024-12-31 SC450878 core:IntangibleAssetsOtherThanGoodwill 2025-12-31 SC450878 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 SC450878 core:OtherPropertyPlantEquipment 2025-12-31 SC450878 core:OtherPropertyPlantEquipment 2024-12-31 SC450878 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 SC450878 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 SC450878 core:Non-currentFinancialInstruments core:AfterOneYear 2025-12-31 SC450878 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 SC450878 core:CurrentFinancialInstruments 2025-12-31 SC450878 core:CurrentFinancialInstruments 2024-12-31 SC450878 core:ShareCapital 2025-12-31 SC450878 core:ShareCapital 2024-12-31 SC450878 core:RetainedEarningsAccumulatedLosses 2025-12-31 SC450878 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC450878 core:ShareCapitalOrdinaryShareClass1 2025-12-31 SC450878 core:ShareCapitalOrdinaryShareClass1 2024-12-31 SC450878 bus:Director1 2025-01-01 2025-12-31 SC450878 core:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 SC450878 core:PatentsTrademarksLicencesConcessionsSimilar 2025-01-01 2025-12-31 SC450878 core:PlantMachinery 2025-01-01 2025-12-31 SC450878 core:ComputerEquipment 2025-01-01 2025-12-31 SC450878 core:MotorVehicles 2025-01-01 2025-12-31 SC450878 core:ConstructionInProgressAssetsUnderConstruction 2025-01-01 2025-12-31 SC450878 2024-01-01 2024-12-31 SC450878 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 SC450878 core:OtherPropertyPlantEquipment 2024-12-31 SC450878 core:OtherPropertyPlantEquipment 2025-01-01 2025-12-31 SC450878 core:Non-currentFinancialInstruments 2025-12-31 SC450878 core:Non-currentFinancialInstruments 2024-12-31 SC450878 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 SC450878 bus:OrdinaryShareClass1 2025-12-31 SC450878 bus:OrdinaryShareClass1 2024-12-31 SC450878 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 SC450878 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 SC450878 bus:FRS102 2025-01-01 2025-12-31 SC450878 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 SC450878 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP