REGISTERED NUMBER: 15873777 (England and Wales)

COASTAL CRUISES POOLE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

3 AUGUST 2024 TO 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs C M Scott

REGISTERED OFFICE:

Unit 9a,Saltmarsh Building

Cobbs Quay Marina

Woodlands Avenue

Hamworthy

Poole

BH15 4EL

REGISTERED NUMBER:

15873777 (England and Wales)

BANKERS:

National Westminster Bank Plc

151 High Street

Poole

Dorset

BH15 1AS

FIXED ASSETS

Intangible assets

4

2,668

Tangible assets

5

717,288

Negative goodwill

6

(379,665

)

340,291

CURRENT ASSETS

Stocks

4,000

Debtors

7

64,295

Cash at bank

185,349

253,644

CREDITORS

Amounts falling due within one year

8

(194,332

)

NET CURRENT ASSETS

59,312

TOTAL ASSETS LESS CURRENT LIABILITIES

399,603

CREDITORS

Amounts falling due after more than one year

9

(204,876

)

PROVISIONS FOR LIABILITIES

11

(147,978

)

NET ASSETS

46,749

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

46,748

46,749

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

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

The director acknowledges her 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 24 July 2026 and were signed by:

Mrs C M Scott - Director

1.	STATUTORY INFORMATION

Coastal Cruises Poole 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 FRS 102 "The Financial Reporting Standards 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 amounts in these financial statements are rounded to the nearest £1.

There are no prior year comparative figures given these financial statements cover the first period of Coastal Cruises Poole Limited.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Turnover represents the fair value of consideration receivable for boat charter services, net of VAT and discounts.

Revenue is recognised when the performance obligation is satisfied, being when the charter takes place. Amounts received in advance of charters are recognised as deferred income and released to turnover when the service is provided.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Websites are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery

- Straight line over 5 years

Vessels

- Straight line over 25 years

Computer equipment

- Straight line over 5 years

Where the company can identify the value of major components of vessels, the company reviews whether one or more such components have significantly different patterns of consumption of economic benefits. In such cases, the company allocates the cost of the asset to its major components and depreciates each component separately over its useful life.

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 recognised in the income statement.

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 period 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 period 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.

- Business combinations

Deferred tax is recognised on the difference between the fair value of assets and liabilities recognised on acquisition of a business and their corresponding tax bases.

Where such deferred tax arises on acquisition, it is recognised as part of the initial accounting for the business combination and is taken into account in determining the resulting goodwill or negative goodwill. Accordingly, deferred tax arising on acquisition does not give rise to an immediate charge or credit in profit or loss.

- Subsequent measurement

After initial recognition, movements in deferred tax are recognised in profit or loss to the extent that they relate to items recognised in profit or loss.

In the current period, deferred tax arises primarily from the difference between the fair value of vessels recognised on acquisition and the tax value of those assets. This timing difference unwinds over the useful economic lives of the assets as depreciation and capital allowances differ.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial assets

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, 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.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Negative Goodwill

Negative goodwill arises where the fair value of identifiable net assets acquired exceeds the consideration paid in a business combination.

It is recognised as a separate credit balance on the balance sheet and released to profit or loss over the periods in which the related non-monetary assets are recovered.

Where negative goodwill relates to depreciable assets, it is recognised on a systematic basis over their useful economic lives. In the current period, this is 25 years, consistent with the useful lives of the vessels acquired.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 25 .

4.	INTANGIBLE FIXED ASSETS

Websites

£

COST

Additions

3,020

At 31 December 2025

3,020

AMORTISATION

Amortisation for period

352

At 31 December 2025

352

NET BOOK VALUE

At 31 December 2025

2,668

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

Vessels

equipment

Totals

£

£

£

£

COST

Additions

26,472

725,000

2,794

754,266

At 31 December 2025

26,472

725,000

2,794

754,266

DEPRECIATION

Charge for period

2,718

33,834

426

36,978

At 31 December 2025

2,718

33,834

426

36,978

NET BOOK VALUE

At 31 December 2025

23,754

691,166

2,368

717,288

6.	NEGATIVE GOODWILL

£

COST

Additions

(398,250

)

At 31 December 2025

(398,250

)

AMORTISATION

Charge for period

(18,585

)

At 31 December 2025

(18,585

)

NET BOOK VALUE

At 31 December 2025

(379,665

)

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

19,373

Other debtors

44,922

64,295

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

7,770

Taxation and social security

7,956

Other creditors

178,606

194,332

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

204,876

Amounts falling due in more than five years:

Repayable by instalments

Other loans more than 5 years

by instalments

35,235

35,235

10.	SECURED DEBTS

The following secured debts are included within creditors:

£

Other loans

246,349

The debts are secured by fixed charges over vessels owned by the company.

11.	PROVISIONS FOR LIABILITIES

£

Deferred tax

147,978

Deferred tax

£

Accelerated capital allowances

53,527

Trading losses

(32,104

)

See note below

126,555

Balance at 31 December 2025

147,978

Deferred tax of £132,750 has been recognised in respect of timing differences arising between the carrying value of certain assets and their tax base. This has been unwound during the period resulting in a provision as at the balance sheet date of £126,555

The deferred tax liability arises primarily on the acquisition of a business during the period, where vessels were recognised at fair value for accounting purposes. The tax value of these assets differs from their carrying value, resulting in a taxable timing difference.

The timing difference is expected to reverse over the useful economic lives of the vessels as depreciation.

12.	OPERATING LEASE COMMITMENTS

As of the balance sheet date, there were future operating lease commitments of £113,190.