Hamble Point Yacht Charters Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02429196 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2025

for

HAMBLE POINT YACHT CHARTERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K R Potts

G R Potts

SECRETARY:

G R Potts

REGISTERED OFFICE:

Office Suite 1

Haslemere House

Lower Street

Haslemere

Surrey

GU27 2PE

REGISTERED NUMBER:

02429196 (England and Wales)

FIXED ASSETS

Website

4

86,259

78,216

Tangible assets

5

544,152

634,830

630,411

713,046

CURRENT ASSETS

Stocks

15,250

18,743

Debtors

6

3,836

2,631

Prepayments and accrued income

123,458

45,864

Cash at bank

1,316

143,860

68,554

CREDITORS

Amounts falling due within one year

7

1,136,818

979,446

NET CURRENT LIABILITIES

(992,958

)

(910,892

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(362,547

)

(197,846

)

CREDITORS

Amounts falling due after more than one year

8

-

10,000

NET LIABILITIES

(362,547

)

(207,846

)

CAPITAL AND RESERVES

Called up share capital

10

Revaluation reserve

9

67,274

Retained earnings

(429,831

)

(275,130

)

SHAREHOLDERS' FUNDS

(362,547

)

(207,846

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2026 and were signed on its behalf by:

K R Potts - Director

1.	STATUTORY INFORMATION

Hamble Point Yacht Charters Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

Significant judgements and estimates

Where a charter yacht owned by the company is carried at valuation, that valuation is made at each year end by the directors. The valuation is based on published prices for similar vessels in a similar condition offered for sale on the open market.

The useful economic lives of other fixed assets is reviewed each year by the directors.

Turnover

Turnover represents the invoiced amount of fees and commissions earned (stated net of value added tax) during the year.

Intangible fixed assets

Intangible assets are initially measured at cost. Amortisation is provided on the following annual rate in order to write off the cost less estimated residual value of the asset over its estimated useful life.

Website - 20 % straight line basis

Bookings and reservations software - 10 % reducing balance basis

Tangible fixed assets

Depreciation is provided on the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Charter boats

Due to the nature of the charter boats and the level of expenditure charged to the profit and loss account to maintain them to an standard for chartering, the residual value of these assets is deemed by the directors to be not materially less than cost and therefore no depreciation is charged in respect of these assets in accordance with Financial Reporting Standard 102.

Office equipment

- 25 % reducing balance basis

Equipment for hire

- 25 % reducing balance basis

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 November 2024

100,375

Additions

18,504

At 31 October 2025

118,879

AMORTISATION

At 1 November 2024

22,159

Charge for year

10,461

At 31 October 2025

32,620

NET BOOK VALUE

At 31 October 2025

86,259

At 31 October 2024

78,216

5.	TANGIBLE FIXED ASSETS

Equipment

Office

Charter

for hire

equipment

boats

Totals

£

COST OR VALUATION

At 1 November 2024

22,999

26,194

630,137

679,330

Additions

6,108

-

6,108

Disposals

-

(1,152

)

(79,500

)

(80,652

)

Impairments

-

(13,722

)

(13,722

)

At 31 October 2025

29,107

25,042

536,915

591,064

DEPRECIATION

At 1 November 2024

21,190

23,310

-

44,500

Charge for year

1,979

433

-

2,412

At 31 October 2025

23,169

23,743

-

46,912

NET BOOK VALUE

At 31 October 2025

5,938

1,299

536,915

544,152

At 31 October 2024

1,809

2,884

630,137

634,830

Cost or valuation at 31 October 2025 is represented by:

Equipment

Office

Charter

for hire

equipment

boats

Totals

£

Valuation in 2015

-

80,767

Valuation in 2016

-

1,850

Valuation in 2017

-

(22,984

)

(22,984

)

Valuation in 2018

-

(18,249

)

(18,249

)

Valuation in 2019

-

6,697

Valuation in 2020

-

402

Valuation in 2021

-

20,250

Valuation in 2022

-

(6,116

)

(6,116

)

Valuation in 2023

-

(10,412

)

(10,412

)

Valuation in 2024

-

(13,722

)

(13,722

)

Cost

29,107

25,042

498,432

552,581

29,107

25,042

536,915

591,064

The charter boats were revalued by the directors at the balance sheet date.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

3,836

1,748

Other debtors

-

883

3,836

2,631

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

145,290

170,529

Trade creditors

35,301

45,872

Amounts owed to group undertakings

16,700

16,800

Taxation and social security

20,890

34,521

Other creditors

918,637

711,724

1,136,818

979,446

The amount owed to group undertakings above relates to a loan balance of £16,700 (2024 : £16,800) due by the company to MCG Group Limited, which company owns 100% of the share capital of Hamble Point Yacht Charters Limited. The loan is interest free and there are no fixed terms for repayment.

Included in Other creditors are directors' current account balances totalling £864,573 (2024 : £690,303). These balances are interest free and there are no fixed terms for repayment.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

-

10,000

9.

RESERVES

Revaluation

reserve

£

At 1 November 2024

and 31 October 2025

67,274

10.	ULTIMATE CONTROLLING PARTY

The company is controlled jointly by Mr and Mrs Potts via their shareholdings in MCG Group Limited.

11.	GOING CONCERN

At the balance sheet date, the company had significant net current liabilities. However, the directors, who are owed monies as disclosed in note 8, have indicated that they will not seek repayment of their loans until the company is in the financial position to make such repayments. The accounts are therefore drawn up on the going concern basis.