| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 November 2025 |
| for |
| Firmhelm Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 November 2025 |
| for |
| Firmhelm Limited |
| Firmhelm Limited (Registered number: 01324374) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2025 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Firmhelm Limited (Registered number: 01324374) |
| Balance Sheet |
| 30 November 2025 |
| 30.11.25 | 30.11.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Firmhelm Limited (Registered number: 01324374) |
| Balance Sheet - continued |
| 30 November 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Firmhelm Limited (Registered number: 01324374) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2025 |
| 1. | STATUTORY INFORMATION |
| Firmhelm Limited is a |
| Registered number: |
| Registered office: |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Land and buildings | - |
| Plant and machinery etc | - |
| 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 Statement of Income and Retained Earnings, 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. |
| Firmhelm Limited (Registered number: 01324374) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 December 2024 |
| and 30 November 2025 |
| AMORTISATION |
| At 1 December 2024 |
| and 30 November 2025 |
| NET BOOK VALUE |
| At 30 November 2025 |
| At 30 November 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 December 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 November 2025 |
| DEPRECIATION |
| At 1 December 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 November 2025 |
| NET BOOK VALUE |
| At 30 November 2025 |
| At 30 November 2024 |
| Included in cost of land and buildings is freehold land of £ 75,420 (2024 - £ 75,420 ) which is not depreciated. |
| Firmhelm Limited (Registered number: 01324374) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2025 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 December 2024 |
| Additions |
| At 30 November 2025 |
| NET BOOK VALUE |
| At 30 November 2025 |
| At 30 November 2024 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: Pwllheli Marine Centre, Glan Don, Pwllheli, Gwynedd, LL53 5YQ |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Pwllheli Boatyard, Outer Harbour, Pwllheli, Gwynedd, Wales, LL53 5AY |
| Nature of business: |
| % |
| Class of shares: | holding |
| 7. | STOCKS |
| 30.11.25 | 30.11.24 |
| £ | £ |
| Stocks |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.25 | 30.11.24 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.25 | 30.11.24 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Firmhelm Limited (Registered number: 01324374) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2025 |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.11.25 | 30.11.24 |
| £ | £ |
| Other creditors |
| 11. | PROVISIONS FOR LIABILITIES |
| 30.11.25 | 30.11.24 |
| £ | £ |
| Deferred tax | 18,961 | 23,965 |
| Deferred |
| tax |
| £ |
| Balance at 1 December 2024 |
| Credit to Statement of Income and Retained Earnings during year | ( |
) |
| Balance at 30 November 2025 |
| 12. | RELATED PARTY DISCLOSURES |
| The related parties are Pwllheli Marine Centre Limited and Rowlands Marine Electronics Limited, of which S J Butterworth, Mrs A J Butterworth and Mr N Ll Butterworth are directors. |
| Transactions during the year were on an arms length basis as follows: |
| 2025 |
| £ |
| Sales to Pwllheli Marine Centre Limited | 0 |
| Purchases from Pwllheli Marine Centre Limited | 3,400 |
| The Company received £4,533.60 from Pwllheli Marine Centre Limited. |
| Sales to Rowlands Marine Electronics Limited | 3,438 |
| Purchases from Rowlands Marine Electronics Limited | 8,572 |
| The Company charge Rowlands Marine Electronics Limited a monthly management fee of £3,500. |