Company No: 05771151 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	11,674		14,560
		11,674		14,560
Current assets
Stocks	4	100		500
Debtors	5	35,671		146,280
Cash at bank and in hand		3,239		40,608
		39,010		187,388
Creditors: amounts falling due within one year	6	( 13,211)		( 87,025)
Net current assets		25,799		100,363
Total assets less current liabilities		37,473		114,923
Net assets		37,473		114,923
Capital and reserves
Called-up share capital		100		100
Profit and loss account		37,373		114,823
Total shareholder's funds		37,473		114,923

For the financial year ending 30 June 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Blue Fin Yachts Limited (registered number: 05771151) were approved and authorised for issue by the Director on 25 August 2026. They were signed on its behalf by:

N J Barber Director

1. Accounting policies

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

General information and basis of accounting

Blue Fin Yachts 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 Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The directors have secured work for the forthcoming period and continue to pursue additional opportunities to support the Company’s future trading prospects.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of yacht fairing, shaping
and finishing. Turnover is shown net of value added tax, returns and discounts. The company recognises revenue
when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Other property, plant and equipment	20 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		3

3. Tangible assets

	Plant and machinery		Vehicles		Other property, plant and equipment		Total
	£		£		£		£
Cost
At 01 July 2025	1,091		73,840		4,550		79,481
At 30 June 2026	1,091		73,840		4,550		79,481
Accumulated depreciation
At 01 July 2025	541		63,754		626		64,921
Charge for the financial year	138		2,521		227		2,886
At 30 June 2026	679		66,275		853		67,807
Net book value
At 30 June 2026	412		7,565		3,697		11,674
At 30 June 2025	550		10,086		3,924		14,560

4. Stocks

	2026		2025
	£		£
Stocks	100		500

5. Debtors

	2026		2025
	£		£
Trade debtors	400		82,997
Other debtors	35,271		63,283
	35,671		146,280

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	171		1,451
Other creditors	13,040		85,574
	13,211		87,025

7. Related party transactions

Transactions with the entity's director

	2026		2025
	£		£
N J Barber - 3.75% interest	21,404		49,615

The opening balance for N J Barber's loan accounts was £49,615 (£63,054 - 2025). During the year advances totalling £43,536 (£56,048 - 2025), repayments of £71,747 (£69,487 - 2025) were made. This has resulted in a closing balance at 30th June 2026 £21,404 (£49,615 - 2025).