REGISTERED NUMBER: SC426601 (Scotland)

Boat Investments Limited

Audited Financial Statements

for the Year Ended 30th April 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

6

Directors:

J C Cook

P J Virtue

Mrs S A Wilson

R Mark

Secretary:

R Mark

Registered office:

Unit 1

Coldingham Road Industrial Estate

Eyemouth

TD14 5AN

Registered number:

SC426601 (Scotland)

Auditors:

Rennie Welch Audit Limited

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Fixed assets

Intangible assets

4

177,179

258,000

Tangible assets

5

275,239

319,496

Investments

6

-

200,002

452,418

777,498

Current assets

Debtors

7

24,833

334,608

Cash at bank

10,920

6,208

35,753

340,816

Creditors

Amounts falling due within one year

8

447,147

1,083,017

Net current liabilities

(411,394

)

(742,201

)

Total assets less current liabilities

41,024

35,297

Provisions for liabilities

41,405

41,344

Net liabilities

(381

)

(6,047

)

Capital and reserves

Called up share capital

1

1

Retained earnings

(382

)

(6,048

)

Shareholders' funds

(381

)

(6,047

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th August 2026 and were signed on its behalf by:

R Mark - Director

P J Virtue - Director

1.	Statutory information

Boat Investments Limited is a private company, limited by shares , registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is the amount derived from ordinary activities and is measured at the fair value of the consideration received or receivable which is stated net of VAT.

Turnover from the rental of vessels is recognised in the accounting period in which the rental charges are accrued and become receivable. The company recognises the revenue on a straight line basis over the period in which the rent charge is raised for.

Intangible assets

Separately acquired licences are stated at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is charged on a straight-line basis over the licences' estimated useful economic lives. Where a reliable estimate of useful economic life cannot be made, licences are amortised over 10 years. The company's licences are amortised on this basis.

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

-

2% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Investments in associates

Investments in associate undertakings are recognised at cost.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, other debtors, trade creditors, accruals and current accounts with related parties.

Trade debtors, other debtors, trade creditors, accruals and current accounts with related parties are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

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.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Going concern

Although the company has made a profit in the year, it still presents a deficit on the balance sheet. However, the majority of the long term funding for the company is secured from the contribution by the parent company of the group through a related party current account. The parent company has made a commitment not to seek repayment of this facility within the short term. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3.	Employees and directors

The average number of employees during the year was NIL (2025 - NIL).

4.	Intangible fixed assets

Patents

and

licences

£

Cost

At 1st May 2025

258,000

Disposals

(22,500

)

At 30th April 2026

235,500

Amortisation

Amortisation for year

58,321

At 30th April 2026

58,321

Net book value

At 30th April 2026

177,179

At 30th April 2025

258,000

During the year, the directors reviewed the useful economic lives of the company's licences.

Following this review, the licences are being amortised on a straight line basis over 10 years. The change has been accounted for prospectively and resulted in an amortisation charge of £58,321 in the year.

5.	Tangible fixed assets

Plant and

machinery

£

Cost

At 1st May 2025

352,000

Disposals

(42,000

)

At 30th April 2026

310,000

Depreciation

At 1st May 2025

32,504

Charge for year

5,518

Eliminated on disposal

(3,261

)

At 30th April 2026

34,761

Net book value

At 30th April 2026

275,239

At 30th April 2025

319,496

6.	Fixed asset investments

Interest

in

associate

£

Cost

At 1st May 2025

200,002

Disposals

(200,002

)

At 30th April 2026

-

Net book value

At 30th April 2026

-

At 30th April 2025

200,002

7.

Debtors

2026

2025

£

£

Amounts falling due within one year:

Trade debtors

24,000

12,000

Other debtors

833

40,604

24,833

52,604

2026

2025

£

£

Amounts falling due after more than one year:

Other debtors

-

282,004

Aggregate amounts

24,833

334,608

8.

Creditors: amounts falling due within one year

2026

2025

£

£

Trade creditors

15

33

Amounts owed to group undertakings

338,318

958,214

Taxation and social security

14,000

2,000

Other creditors

94,814

122,770

447,147

1,083,017

Included within other creditors is deferred income of £91,814 (2025 - 119,770)

9.	Secured debts

HSBC UK Bank PLC holds security by way of a floating charge over all assets and undertaking.

10.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Gillian Adamson BSC (Hons) CA CTA (Senior Statutory Auditor)

for and on behalf of Rennie Welch Audit Limited

11.	Related party disclosures

Included within other debtors in 2025 was a loan outstanding to the associate company (Spouse Fishing Limited), amounting to £321,774 .This loan has been repaid in full during the year.

12.	Name of parent of group

These financial statements are consolidated in the financial statements of D. R. Collin & Son Ltd. The registered office of D. R. Collin & Son Ltd is Unit 1, Coldingham Road Industrial Estate, Eyemouth, Berwickshire, TD14 5AN