REGISTERED NUMBER: 03922569

Unaudited Financial Statements

for the Year Ended 28th February 2025

for

WELSH CANAL HOLIDAY CRAFT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mrs R E Furniss

W M Furniss

N Dufton

Mrs I Dufton

Secretary:

Mrs R E Furniss

Registered office:

1 Kille House

Chinnor Road

Thame

Oxfordshire

OX9 3NU

Registered number:

03922569

Accountants:

S G Beale and Co

Chartered Accountants

1 Kille House

Chinnor Road

Thame

Oxfordshire

OX9 3NU

FIXED ASSETS

61,237

Tangible assets

4

56,044

213,154

Investments

5

13,000

274,391

69,044

CURRENT ASSETS

6,687

Stocks

7,152

148,225

Debtors

6

151,123

107,340

Cash at bank and in hand

150,310

262,252

308,585

CREDITORS

130,180

Amounts falling due within one year

7

128,609

132,072

NET CURRENT ASSETS

179,976

406,463

TOTAL ASSETS LESS CURRENT LIABILITIES

249,020

CREDITORS

(132,404

)

Amounts falling due after more than one year

8

(12,250

)

(14,212

)

PROVISIONS FOR LIABILITIES

9

(9,280

)

259,847

NET ASSETS

227,490

CAPITAL AND RESERVES

1,000

Called up share capital

10

1,000

258,847

Retained earnings

11

226,490

259,847

SHAREHOLDERS' FUNDS

227,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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 8th October 2025 and were signed on its behalf by:

W M Furniss - Director

1.	STATUTORY INFORMATION

Welsh Canal Holiday Craft Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.

Improvements to property

-

10% on written down values

Horses

-

10% on written down values

Boats

-

10% on written down values

Plant and fixtures

-

10% on written down values

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2024 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Totals

property

Horses

£

£

£

Cost

At 1st March 2024

363,864

103,320

15,793

Additions

3,600

-

-

Disposals

(7,588

)

-

(3,993

)

At 28th February 2025

359,876

103,320

11,800

Depreciation

At 1st March 2024

302,627

89,649

9,615

Charge for year

6,587

1,367

600

Eliminated on disposal

(5,382

)

-

(3,809

)

At 28th February 2025

303,832

91,016

6,406

Net book value

At 28th February 2025

56,044

12,304

5,394

At 29th February 2024

61,237

13,671

6,178

Motor

Plant and

Boats

vehicles

fixtures

£

£

£

Cost

At 1st March 2024

121,780

3,595

119,376

Additions

-

3,600

-

Disposals

-

(3,595

)

-

At 28th February 2025

121,780

3,600

119,376

Depreciation

At 1st March 2024

108,304

899

94,160

Charge for year

1,348

749

2,523

Eliminated on disposal

-

(1,573

)

-

At 28th February 2025

109,652

75

96,683

Net book value

At 28th February 2025

12,128

3,525

22,693

At 29th February 2024

13,476

2,696

25,216

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1st March 2024

213,154

Impairments

(200,154

)

At 28th February 2025

13,000

Net book value

At 28th February 2025

13,000

At 29th February 2024

213,154

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

990

2,628

Amounts owed by group undertakings

131,604

131,604

Prepayments and accrued income

18,529

13,993

151,123

148,225

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

12,339

17,664

Corporation tax

65,632

60,583

Social security and other taxes

(75

)

-

VAT

2,923

1,745

Directors' current accounts

2,810

2,478

Accruals and deferred income

44,980

47,710

128,609

130,180

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

12,250

132,404

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

9,280

14,212

Deferred

tax

£

Balance at 1st March 2024

14,212

Provided during year

(4,932

)

Balance at 28th February 2025

9,280

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

1

1,000

1,000

11.

RESERVES

Retained

earnings

£

At 1st March 2024

258,847

Profit for the year

119,718

Dividends

(152,075

)

At 28th February 2025

226,490

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Llangollen Wharf Limited.