P.M.B. & S.C. LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01161484

P.M.B. & S.C. LIMITED

Company Limited by Guarantee

Filleted Financial Statements

30 November 2025

P.M.B. & S.C. LIMITED

Company Limited by Guarantee

Statement of Financial Position

30 November 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	1,333,255	1,221,126

Current assets

Stocks		17,013	7,129
Debtors	7	125,413	171,724
Cash at bank and in hand		593,572	1,498,259
		---------	------------
		735,998	1,677,112

Creditors: amounts falling due within one year	8	446,002	472,470
		---------	------------
Net current assets		289,996	1,204,642
		------------	------------
Total assets less current liabilities		1,623,251	2,425,768
		------------	------------
Net assets		1,623,251	2,425,768
		------------	------------

Capital and reserves

Other reserves	241,656	1,064,031
Profit and loss account	1,381,595	1,361,737
	------------	------------
Members funds	1,623,251	2,425,768
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The members acknowledge their 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 were approved by the board of directors and authorised for issue on 18 April 2026 , and are signed on behalf of the board by:

Mr J Dwyer

Treasurer

Company registration number: 01161484

P.M.B. & S.C. LIMITED

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 30 November 2025

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Ely Harbour, Ferry Road, Grangetown, Cardiff, CF11 0JL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of services is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually when the service is rendered); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

In financial year 2024, in order to reflect the correct recoverable amount of each asset they were revalued. This resulted in a writedown of £51K, included in administrative costs. A review of the depreciation was also carried out and resulted in some changes of depreciation rates.

Freehold Land and Buildings	-	2% straight line
Slipway and Pontoons	-	10% reducing balance or 33.33% straight line
Fixtures and Fittings	-	10%, 20% or 33.33% straight line
Angling	-	10% straight line
Boats and Equipment	-	10% or 20% straight line
Compound and Car Park	-	10% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are stated at the lower of cost and net realisable value. Debentures - pontoon moorings Amounts received in respect of Debentures - pontoon moorings are accumulated in accordance with the resolution and amendment to the Memorandum and Articles of Association passed on the 15 May 1990.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Company limited by guarantee

The company is limited by guarantee.

The liability of each member is limited to £20 in the event of the company being wound-up.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 19 (2024: 18 ).

6. Tangible assets

	Freehold Land and Buildings	Slipway and Pontoons	Fixtures, fittings and equipment	Angling	Compound and Car Park	Total
	£	£	£	£	£	£
Cost
At 1 Dec 2024	1,081,826	1,660,644	535,858	1,156	136,565	3,416,049
Additions	175,863	–	77,268	–	–	253,131
Disposals	–	–	( 52,544)	–	( 21,369)	( 73,913)
Transfers	( 15,345)	–	( 6,895)	–	22,240	–
	------------	------------	---------	-------	---------	------------
At 30 Nov 2025	1,242,344	1,660,644	553,687	1,156	137,436	3,595,267
	------------	------------	---------	-------	---------	------------
Depreciation
At 1 Dec 2024	521,709	1,323,674	231,022	347	118,171	2,194,923
Charge for the year	24,519	35,131	61,165	115	3,483	124,413
Disposals	–	–	( 35,954)	–	( 21,369)	( 57,323)
Transfers	396	–	( 6,206)	–	5,809	(1)
	------------	------------	---------	-------	---------	------------
At 30 Nov 2025	546,624	1,358,805	250,027	462	106,094	2,262,012
	------------	------------	---------	-------	---------	------------
Carrying amount
At 30 Nov 2025	695,720	301,839	303,660	694	31,342	1,333,255
	------------	------------	---------	-------	---------	------------
At 30 Nov 2024	560,117	336,970	304,836	809	18,394	1,221,126
	------------	------------	---------	-------	---------	------------

The company had capital commitments of £0 at 30 November 2025 and 30 November 2024.

7. Debtors

	2025	2024
	£	£
Trade debtors	6,822	15,954
Other debtors	118,591	155,770
	---------	---------
	125,413	171,724
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	251,199	283,623
Social security and other taxes	14,136	7,230
Other creditors	180,667	181,617
	---------	---------
	446,002	472,470
	---------	---------

Berthing fees are invoiced in advance for the year to the end of March. The income is deferred and recognised in the profit and loss account on a monthly basis over the period to which it relates, ensuring that income is matched with the associated running costs and that monthly results reflect the underlying trading performance. Where a boat is sold or leaves during the year, the deferred income balance is adjusted to reflect the revised period of occupancy. Deferred income is included within creditors in the balance sheet and released to the profit and loss account each month until the end of March, when the balance reduces to nil in advance of the following year’s invoicing. Deferred income included within other creditors at the year end amounted to £146,141 (2024: £151,523).

9. Analysis of other comprehensive income

	Other reserves	Profit and loss account	Total
	£	£	£
Year ended 30 November 2025
Debentures movement	(822,375)	825,000	2,625
	---------	---------	-------

Year ended 30 November 2024
Debentures movement	101,805	(100,000)	1,805
	---------	---------	-------

10. Reserves

Other reserves of £241,656 (2024 £1,064,031) are made up of Pontoon mooring debentures of £66,656 (2024 £64,031) and a building reserve of £175,000 (2024 £1,000,000).

The building reserve represents funds designated by the directors in prior years for the renovation and improvement of the company’s property. During the year the company undertook significant refurbishment works to the property and £1,000,000 of the reserve has therefore been released and transferred to the income and expenditure reserve.

The debenture fund is maintained in accordance with the company's policy regarding pontoon moorings.

11. Summary audit opinion

The auditor's report dated 18 April 2026 was unqualified .

The senior statutory auditor was Laurence Cohen , for and on behalf of Gordon Down & Partners .