Worsley Dry Docks Limited

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: 01027428

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		911,186		914,479
Investments	5		606,637		606,637

			1,517,823		1,521,116
CURRENT ASSETS
Stocks		451		796
Debtors		13,277		14,159
Cash at bank and in hand		7,341		8,114

		21,069		23,069
Creditors: Amounts Falling Due Within One Year		(102,688 )		(99,676 )

NET CURRENT ASSETS (LIABILITIES)			(81,619 )		(76,607 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,436,204		1,444,509

Creditors: Amounts Falling Due After More Than One Year	6		(10,284 )		(18,078 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(143,233 )		(143,858 )

NET ASSETS			1,282,687		1,282,573

CAPITAL AND RESERVES
Called up share capital	8		5,400		5,400
Revaluation reserve	9		1,258,785		1,258,785
Profit and Loss Account			18,502		18,388

SHAREHOLDERS' FUNDS			1,282,687		1,282,573

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Worsley Dry Docks Limited

Abridged Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Dr John Freear Director	Mr Simon Freear Director	Mrs Helen Flynn Director
24 November 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Worsley Dry Docks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01027428 . The registered office is The Boatyard, Worsley Yard, Worsley, Manchester, M28 2WN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in acccordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (FRS 102 1A) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation

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

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Land & buildings - 2% on cost or over remaining useful life of 16 years. No depreciation is charged on freehold land.

Plant & machinery - 20% on reducing balance or 10 - 33% straight line.

Land & buildings included in tangible fixed assets are measured at revalued amounts in the financial statements. The basis of valuation adopted in determining the amounts of these assets is open market valuation.

As per FRS 102 1A, the company will release an amount from the revaluation reserve and transfer it to the profit & loss reserve at the year end to reflect the charge of depreciation on the revalued proportion of the tangible assets at that date.

2.4. Investment Properties

The company reports under FRS 102 1A. The surplus on the recent revaluations of the investment property is shown as a movement on the retained reserve as required under FRS 102 1A as will any future changes in the fair value of the asset. Deferred tax has been provided for from 1 April 2016 on the investment property as required under FRS 102 1A.

The property included in investment property is measured at revalued amounts in the financial statements. The basis of the valuation adopted in determining the amounts of this asset is open market valuation.

2.5. Stocks and Work in Progress

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

2.6. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the Profit & Loss Account because of items of income or expense that are taxable or deductible in the year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

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Worsley Dry Docks Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

3. Average Number of Employees

Average number of employees during the year was 3 (2024: 1)

4. Tangible Assets

	Total
	£
Cost
As at 1 April 2024	946,945

As at 31 March 2025	946,945

Depreciation
As at 1 April 2024	32,466
Provided during the period	3,293

As at 31 March 2025	35,759

Net Book Value
As at 31 March 2025	911,186

As at 1 April 2024	914,479

Included in cost or valuation of land & buildings is freehold land of £41,678 (2024: £41,678) which is not depreciated.

The land & buildings were revalued at open market on 31st March 2025 by the directors. Had the land & buildings not been revalued they would be carried at their cost of £157,345 at 31st March 2025.

The cost or valuation of tangible fixed assets at 31st March 2025 is represented by:

Valuation in 2007 - £522,754, Valuation in 2018 - £64,370,Valuation in 2022, 2023, 2024 & 2025 - £148,894 Cost - £210,927.

Total at 31st March 2025 - £946,945.

As the land & buildings are shown at their current valuation at 31st March 2025 no depreciation has been provided for on these assets in the current year.

5. Investments

	Total
	£
Cost or Valuation
As at 1 April 2024	606,637

As at 31 March 2025	606,637

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	606,637

As at 1 April 2024	606,637

The investment properties were revalued at open market on 31st March 2025 by the directors. Had the investment properties not been revalued they would be carried at their cost of £83,870 at 31st March 2025.

Fair value of Investment Properties at 31st March 2025 is represented by:

Valuation in 2009 - £377,117, Valuation in 2018 - £44,544, Valuation in 2022, 2023 & 2024 - £101,106 Cost - £83,870

...CONTINUED

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Worsley Dry Docks Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

5. Investments - continued

Total fair value at 31st March 2025 - £606,637

7. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 April 2024	143,858	143,858
Origination and reversal of timing differences	(625 )	(625 )

Balance at 31 March 2025	143,233	143,233

Deferred tax has been provided on the revalued land & buildings and investment properties at 31st March 2022. The revaluation of these assets were shown as a movement on the revaluation reserve at 31st March 2022. The directors consider that the value of these assets at 31st March 2025 remains that as at 31st March 2022. Hence, there has been no further movement in the deferred tax provision on these assets since 31st March 2022.

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	5,400	5,400

9. Reserves

	Revaluation Reserve
	£
As at 1 April 2024	1,258,785

As at 31 March 2025	1,258,785

The directors consider that the Revaluation Reserve is not distributable.

10. Related Party Transactions

1. In 2009 Vicky Flynn and Simon Freear bought shares from the then 50% owners of Worsley Dry Docks Limited. The loan for this purchase was from Abbey Commercial Mortgages Limited (now Santander) and is secured on the Worsley Dry Docks property. As part of the loan agreement, Vicky Flynn and Simon Freear must use their share of any dividend to repay the loan. The balance at the year end was £174,080. The repayments are £1,307.00 per month. Should there not be enough income to cover the repayments, the bank can call in the loan and force the sale of the business a a whole.

2. As at 31st March 2025 the company owed a total of £42,469 (2024 - £54,508) to the director Dr John Freear, £20,342 (2024 - £15,572) to the director Mr Simon Freear and £28,009 (2024 - £25,939) to the director Mrs Vicky Flynn.

3. During the year to 31 March 2025 John Freear rented a flat from the company. This was rented to him at arms length and at open market value.

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