Tollesbury Marina Limited Filleted accounts for Companies House (small and micro)

Tollesbury Marina Limited Filleted accounts for Companies House (small and micro)

TOLLESBURY MARINA LIMITED - Company Information

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false false false false false false false false false true false false false false false false No description of principal activity 2019-04-01 Sage Accounts Production Advanced 2019 - FRS102_2019 170,500 2,842 17,050 19,892 150,608 167,658 46,502 46,502 46,422 46,422 80 xbrli:pure xbrli:shares iso4217:GBP 00996247 2019-04-01 2020-03-31 00996247 2020-03-31 00996247 2019-03-31 00996247 2018-02-01 2019-03-31 00996247 2019-03-31 00996247 core:LandBuildings core:LongLeaseholdAssets 2019-04-01 2020-03-31 00996247 core:LandBuildings core:ShortLeaseholdAssets 2019-04-01 2020-03-31 00996247 core:PlantMachinery 2019-04-01 2020-03-31 00996247 core:MotorVehicles 2019-04-01 2020-03-31 00996247 bus:OrdinaryShareClass1 2019-04-01 2020-03-31 00996247 bus:OrdinaryShareClass2 2019-04-01 2020-03-31 00996247 bus:Director6 2019-04-01 2020-03-31 00996247 bus:Director7 2019-04-01 2020-03-31 00996247 core:WithinOneYear 2020-03-31 00996247 core:WithinOneYear 2019-03-31 00996247 core:NetGoodwill 2019-03-31 00996247 core:NetGoodwill 2020-03-31 00996247 core:LandBuildings 2019-03-31 00996247 core:PlantMachinery 2019-03-31 00996247 core:FurnitureFittingsToolsEquipment 2019-03-31 00996247 core:MotorVehicles 2019-03-31 00996247 core:LandBuildings 2020-03-31 00996247 core:PlantMachinery 2020-03-31 00996247 core:FurnitureFittingsToolsEquipment 2020-03-31 00996247 core:MotorVehicles 2020-03-31 00996247 core:LandBuildings 2019-04-01 2020-03-31 00996247 core:FurnitureFittingsToolsEquipment 2019-04-01 2020-03-31 00996247 core:AfterOneYear 2020-03-31 00996247 core:AfterOneYear 2019-03-31 00996247 core:ShareCapital 2020-03-31 00996247 core:ShareCapital 2019-03-31 00996247 core:SharePremium 2020-03-31 00996247 core:SharePremium 2019-03-31 00996247 core:RetainedEarningsAccumulatedLosses 2020-03-31 00996247 core:RetainedEarningsAccumulatedLosses 2019-03-31 00996247 core:NetGoodwill 2019-04-01 2020-03-31 00996247 core:NetGoodwill 2019-03-31 00996247 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2020-03-31 00996247 core:CostValuation core:Non-currentFinancialInstruments 2020-03-31 00996247 core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal core:Non-currentFinancialInstruments 2020-03-31 00996247 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2020-03-31 00996247 core:Non-currentFinancialInstruments 2020-03-31 00996247 core:LandBuildings 2019-03-31 00996247 core:PlantMachinery 2019-03-31 00996247 core:FurnitureFittingsToolsEquipment 2019-03-31 00996247 core:MotorVehicles 2019-03-31 00996247 bus:SmallEntities 2019-04-01 2020-03-31 00996247 bus:AuditExemptWithAccountantsReport 2019-04-01 2020-03-31 00996247 bus:FullAccounts 2019-04-01 2020-03-31 00996247 bus:SmallCompaniesRegimeForAccounts 2019-04-01 2020-03-31 00996247 bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31 00996247 bus:OrdinaryShareClass1 2020-03-31 00996247 bus:OrdinaryShareClass1 2019-03-31 00996247 bus:OrdinaryShareClass2 2020-03-31 00996247 bus:OrdinaryShareClass2 2019-03-31 00996247 bus:AllOrdinaryShares 2020-03-31 00996247 bus:AllOrdinaryShares 2019-03-31 00996247 core:FurnitureFittings 2019-04-01 2020-03-31 00996247 core:OtherPropertyPlantEquipment 2019-04-01 2020-03-31 00996247 core:AllSubsidiaries 2020-03-31 00996247 core:AllSubsidiaries 2019-03-31 00996247 core:KeyManagementPersonnel 2020-03-31 00996247 core:KeyManagementPersonnel 2019-03-31
COMPANY REGISTRATION NUMBER: 00996247
Tollesbury Marina Limited
Filleted Unaudited Financial Statements
31 March 2020
Tollesbury Marina Limited
Statement of Financial Position
31 March 2020
2020
2019
Note
£
£
£
Fixed assets
Intangible assets
5
150,608
167,658
Tangible assets
6
1,706,634
1,670,929
Investments
7
80
–
------------
------------
1,857,322
1,838,587
Current assets
Stocks
24,400
27,900
Debtors
8
72,994
42,867
Cash at bank and in hand
171,912
82,630
---------
---------
269,306
153,397
Creditors: amounts falling due within one year
9
411,430
420,412
---------
---------
Net current liabilities
142,124
267,015
------------
------------
Total assets less current liabilities
1,715,198
1,571,572
Creditors: amounts falling due after more than one year
10
625,332
567,190
------------
------------
Net assets
1,089,866
1,004,382
------------
------------
Capital and reserves
Called up share capital
11
950,250
950,250
Share premium account
571
571
Profit and loss account
139,045
53,561
------------
------------
Shareholders funds
1,089,866
1,004,382
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Tollesbury Marina Limited
Statement of Financial Position (continued)
31 March 2020
These financial statements were approved by the board of directors and authorised for issue on 16 June 2020 , and are signed on behalf of the board by:
J. C. L. Goldie
O.D. Goldie
Director
Director
Company registration number: 00996247
Tollesbury Marina Limited
Notes to the Financial Statements
Year ended 31 March 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Yacht Harbour, Tollesbury, Maldon, Essex, CM9 8SE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Going concern
The directors have considered the impact of the covid-19 pandemic in their assessment of the company's ability to prepare accounts as a going concern. Because of the uncertainties surrounding the effects of the economic slowdown it is difficult to predict the impact on the company and its customers, but having taken all the factors into account, the directors are of the opinion that the company has sufficient resources to continue trading for the next 12 months from the date of signing these accounts.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover represents the invoiced value of subscriptions and cash generated from bar and restaurant takings.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
10% straight line
Tennis Courts
-
10% straight line
Plant and machinery
-
20% reducing balance
Fixtures and Fittings
-
12.5% straight line
Motor vehicles
-
20% straight line
Swimming Pool
-
10% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
The basis of valuation, which is consistent with previous years, is at cost price.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 21 (2019: 11 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2019 and 31 March 2020
170,500
---------
Amortisation
At 1 April 2019
2,842
Charge for the year
17,050
---------
At 31 March 2020
19,892
---------
Carrying amount
At 31 March 2020
150,608
---------
At 31 March 2019
167,658
---------
6. Tangible assets
Property
Plant and machinery
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2019
1,622,864
77,702
78,668
9,540
1,788,774
Additions
37,478
25,408
3,560
–
66,446
------------
---------
--------
-------
------------
At 31 March 2020
1,660,342
103,110
82,228
9,540
1,855,220
------------
---------
--------
-------
------------
Depreciation
At 1 April 2019
43,600
6,584
63,527
4,134
117,845
Charge for the year
7,957
16,921
3,955
1,908
30,741
------------
---------
--------
-------
------------
At 31 March 2020
51,557
23,505
67,482
6,042
148,586
------------
---------
--------
-------
------------
Carrying amount
At 31 March 2020
1,608,785
79,605
14,746
3,498
1,706,634
------------
---------
--------
-------
------------
At 31 March 2019
1,579,264
71,118
15,141
5,406
1,670,929
------------
---------
--------
-------
------------
7. Investments
Shares in group undertakings
£
Cost
At 1 April 2019
–
Additions
46,502
--------
At 31 March 2020
46,502
--------
Impairment
At 1 April 2019
–
Revaluations
46,422
--------
At 31 March 2020
46,422
--------
Carrying amount
At 31 March 2020
80
--------
At 31 March 2019
–
--------
During the year the company acquired 76% of the ordinary share capital of Tollesbury Cruising Club Limited and 100% of the ordinary share capital in The Harbour View Tollesbury Limited and Woodrolfe Boatyard Limited.
8. Debtors
2020
2019
£
£
Trade debtors
70,596
34,006
Prepayments and accrued income
–
163
Other debtors
2,398
8,698
--------
--------
72,994
42,867
--------
--------
9. Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans and overdrafts
30,276
30,201
Trade creditors
36,344
61,482
Amounts owed to group undertakings
100
–
Accruals and deferred income
30,715
56,726
Corporation tax
20,457
202
Social security and other taxes
30,576
21,980
Obligations under finance leases and hire purchase contracts
11,780
12,564
Director loan accounts
77,344
52,556
Other creditors
173,838
184,701
---------
---------
411,430
420,412
---------
---------
Barclays bank Plc hold a charge over the assets of the company.
10. Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
606,170
536,132
Obligations under finance leases and hire purchase contracts
19,162
31,058
---------
---------
625,332
567,190
---------
---------
Barclays bank Plc hold a charge over the assets of the company.
Included within creditors: amounts falling due after more than one year is an amount of £478,072 (2019: £416,333) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
11. Called up share capital
Authorised share capital
2020
2019
No.
£
No.
£
Ordinary shares of £ 1 each
1,250
1,250
1,250
1,250
Redeemable preference shares of £ 1 each
949
949
949,000
949,000
-------
-------
---------
---------
2,199
2,199
950,250
950,250
-------
-------
---------
---------
Issued, called up and fully paid
2020
2019
No.
£
No.
£
Ordinary shares of £ 1 each
1,250
1,250
1,250
1,250
Redeemable preference shares of £ 1 each
949,000
949,000
949,000
949,000
---------
---------
---------
---------
950,250
950,250
950,250
950,250
---------
---------
---------
---------
The preference shares are redeemable at the behest of the company.
12. Related party transactions
At the year end the company owed £ 100 (2019: £ 61,310 ) to Tollesbury Cruising Club Limited, a subsidiary undertaking. At the year end the company owed the director £ 77,344 (2019 - £ 52,556 ) by way of a directors loan account.