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Registered number: 11624380
Wheelhouse Argosy Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11624380
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 57,816 68,021
Investment Properties 5 1,600,000 1,600,000
1,657,816 1,668,021
CURRENT ASSETS
Stocks 6 3,000 3,500
Debtors 7 110,278 68,873
Cash at bank and in hand 1,587 3,328
114,865 75,701
Creditors: Amounts Falling Due Within One Year 8 (923,491 ) (738,368 )
NET CURRENT ASSETS (LIABILITIES) (808,626 ) (662,667 )
TOTAL ASSETS LESS CURRENT LIABILITIES 849,190 1,005,354
Creditors: Amounts Falling Due After More Than One Year 9 (619,993 ) (727,093 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (42,000 ) (42,000 )
NET ASSETS 187,197 236,261
CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 179,054 179,054
Profit and Loss Account 8,043 57,107
SHAREHOLDERS' FUNDS 187,197 236,261
Page 1
Page 2
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr B E Fellows
Director
Ms C M Moseley
Director
25 August 2026
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wheelhouse Argosy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11624380 . The registered office is Rowan House, 7 West Bank, Scarborough, North Yorkshire, YO12 4DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% RB
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
- -
Page 3
Page 4
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2025 130,104
As at 31 December 2025 130,104
Depreciation
As at 1 January 2025 62,083
Provided during the period 10,205
As at 31 December 2025 72,288
Net Book Value
As at 31 December 2025 57,816
As at 1 January 2025 68,021
5. Investment Property
2025
£
Fair Value
As at 1 January 2025 and 31 December 2025 1,600,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2025 2024
£ £
Cost 1,378,946 1,378,946
Investment property was valued on an open market basis on 22 February 2022 by CPH Estate Agents Ltd.
The directors agree that the market value at 31 December 2025 has not changed materially from the date of the
previous valuation.
6. Stocks
2025 2024
£ £
Stock 3,000 3,500
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 4,279
Other debtors 110,278 64,594
110,278 68,873
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 237 667
Bank loans and overdrafts 5,950 5,000
Other creditors 917,030 731,483
Taxation and social security 274 1,218
923,491 738,368
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 20,194 27,093
Debentures 599,799 700,000
619,993 727,093
10. Secured Creditors
Of the creditors the following amounts are secured.
2025 2024
£ £
Bank loans and overdrafts 599,799 700,000
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
12. Reserves
Fair Value Reserve
£
As at 1 January 2025 179,054
As at 31 December 2025 179,054
13. Related Party Transactions
During the year the company loaned monies from Wheelhouse Pilot Ltd. The amount owed from the company at
the year end date was £745,974 (2024: £728,507). The loan is repayable on demand and is interest free.
During the year the company loaned monies to Hackness Strata Ltd. The amount owed from the company at the
year end date was £19,278 (2024: £17,928). The loan is repayable on demand and is interest free.
During the year the company loaned monies to Homemore Ltd. The amount owed from the company at the year
end date was £71,772 (2024: £46,136). The loan is repayable on demand and is interest free.
During the year the company received monies from Wheelhouse Flotilla Ltd. The amount owed at the year end
date was £378 (2024: £378 owed from Wheelhouse Flotilla Ltd). The loan is repayable on demand and is interest
free.
Page 5