Company No: 13144189 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.03.2026		31.03.2025
		£		£
Fixed assets
Intangible assets	3	107,310		129,077
Tangible assets	4	943,815		987,469
		1,051,125		1,116,546
Current assets
Stocks		1,000		5,000
Debtors	5	45,952		32,647
Cash at bank and in hand		15,003		13,652
		61,955		51,299
Creditors: amounts falling due within one year	6	( 1,495,439)		( 1,483,923)
Net current liabilities		(1,433,484)		(1,432,624)
Total assets less current liabilities		(382,359)		(316,078)
Net liabilities		( 382,359)		( 316,078)
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		( 382,459 )		( 316,178 )
Total shareholders' deficit		( 382,359)		( 316,078)

For the financial period ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Weir Quay Boatyard Limited (registered number: 13144189) were approved and authorised for issue by the Board of Directors on 25 August 2026. They were signed on its behalf by:

Harry Acland Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Weir Quay Boatyard Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hewton House, Bere Alston, Yelverton, PL20 7BW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £382,359. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	5 years straight line
Vehicles	5 years straight line
Computer equipment	5 years straight line
Other property, plant and equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Land is not depreciated.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	31.03.2026		31.03.2025
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	4		4

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2025	217,669		217,669
At 31 March 2026	217,669		217,669
Accumulated amortisation
At 01 April 2025	88,592		88,592
Charge for the financial period	21,767		21,767
At 31 March 2026	110,359		110,359
Net book value
At 31 March 2026	107,310		107,310
At 31 March 2025	129,077		129,077

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Computer equipment		Other property, plant and equipment		Total
	£		£		£		£		£		£
Cost
At 01 April 2025	970,577		153,143		29,218		760		15,000		1,168,698
Additions	0		1,209		0		305		4,000		5,514
At 31 March 2026	970,577		154,352		29,218		1,065		19,000		1,174,212
Accumulated depreciation
At 01 April 2025	42,994		115,275		21,865		595		500		181,229
Charge for the financial period	10,543		28,989		5,843		193		3,600		49,168
At 31 March 2026	53,537		144,264		27,708		788		4,100		230,397
Net book value
At 31 March 2026	917,040		10,088		1,510		277		14,900		943,815
At 31 March 2025	927,583		37,868		7,353		165		14,500		987,469

5. Debtors

	31.03.2026		31.03.2025
	£		£
Trade debtors	31,853		20,811
Prepayments	10,749		9,747
VAT recoverable	427		2,089
Other taxation and social security	2,923		0
	45,952		32,647

6. Creditors: amounts falling due within one year

	31.03.2026		31.03.2025
	£		£
Trade creditors	23,604		7,710
Amounts owed to directors	1,426,902		1,441,902
Accruals and deferred income	44,916		31,999
Other taxation and social security	0		1,158
Other creditors	17		1,154
	1,495,439		1,483,923

7. Called-up share capital

	31.03.2026		31.03.2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	31.03.2026		31.03.2025
	£		£
Within one year	23,764		23,764
Between one and five years	95,056		95,056
After five years	136,476		160,240
	255,296		279,060

9. Related party transactions

Transactions with the entity's directors

	31.03.2026		31.03.2025
	£		£
Amounts owed to directors	1,426,902		1,441,902