Westward Marine Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 10678233 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

WESTWARD MARINE HOLDINGS LIMITED

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Tangible assets

4

29,538

36,282

Current assets

Stocks

293,702

381,290

Debtors

5

77,887

320,248

Cash at bank and in hand

1,589,171

1,104,565

1,960,760

1,806,103

Creditors

Amounts falling due within one year

6

343,815

325,218

Net current assets

1,616,945

1,480,885

Total assets less current liabilities

1,646,483

1,517,167

Provisions for liabilities

8

7,385

8,836

Net assets

1,639,098

1,508,331

Capital and reserves

Called up share capital

9

1

Retained earnings

1,639,097

1,508,330

Shareholders' funds

1,639,098

1,508,331

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2026 and were signed on its behalf by:

Mr A N Weston-Edwards - Director

1.	Statutory information

Westward Marine Holdings Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10678233. The registered office is Faulkner House, 31 West Steet, Wimborne, Dorset, BH21 1JS and business address is Cobbs Avenue Marina, Poole Harbour, Poole, BH15 4EL.

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 measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stock and Work In Progress are valued at the lower of cost and net realisable value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 2 (2025 - 2 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

Cost

At 1 April 2025

4,053

1,475

89,285

94,813

Additions

1,842

1,261

-

3,103

At 31 March 2026

5,895

2,736

89,285

97,916

Depreciation

At 1 April 2025

3,117

962

54,452

58,531

Charge for year

695

444

8,708

9,847

At 31 March 2026

3,812

1,406

63,160

68,378

Net book value

At 31 March 2026

2,083

1,330

26,125

29,538

At 31 March 2025

936

513

34,833

36,282

5.

Debtors: amounts falling due within one year

2026

2025

£

Trade debtors

2,133

3,238

Other debtors

69,250

45,935

Directors' current accounts

-

264,998

Prepayments

6,504

6,077

77,887

320,248

6.

Creditors: amounts falling due within one year

2026

2025

£

Tax

65,041

63,540

Social security and other taxes

536

VAT

55,488

86,557

Other creditors

201,614

172,097

Directors' current accounts

17,681

-

Accruals and deferred income

3,455

2,488

343,815

325,218

7.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

Within one year

10,000

Between one and five years

30,000

17,500

40,000

27,500

8.	Provisions for liabilities

2026

2025

£

Deferred tax

7,385

8,836

Deferred

tax

£

Balance at 1 April 2025

8,836

Provided during year

(1,451

)

Balance at 31 March 2026

7,385

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

100

Ordinary

£0.01

1

10.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2026 and 31 March 2025:

2026

2025

£

Mr A N Weston-Edwards and Mrs F L Weston-Edwards

Balance outstanding at start of year

264,999

-

Amounts advanced

-

264,999

Amounts repaid

(264,999

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

264,999

At the balance sheet date the Directors owed the company £NIL (2025: £264,999). The amount outstanding at the balance sheet date was repaid in full within 9 months of the year end.

11.	Ultimate controlling party

The Company is under the control of the Directors, by virtue of their combined 100% holding of the issued voting share capital of the Company.