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

TOLLESBURY MARINA LIMITED - Company Information

29 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 170,500 53,992 17,050 71,042 99,458 116,508 46,502 46,422 80 80 xbrli:pure xbrli:shares iso4217:GBP 00996247 2022-04-01 2023-03-31 00996247 2023-03-31 00996247 2022-03-31 00996247 2021-04-01 2022-03-31 00996247 2022-03-31 00996247 2021-03-31 00996247 core:LandBuildings core:ShortLeaseholdAssets 2022-04-01 2023-03-31 00996247 core:PlantMachinery 2022-04-01 2023-03-31 00996247 core:MotorVehicles 2022-04-01 2023-03-31 00996247 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 00996247 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 00996247 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 00996247 bus:Director6 2022-04-01 2023-03-31 00996247 bus:Director7 2022-04-01 2023-03-31 00996247 core:WithinOneYear 2023-03-31 00996247 core:WithinOneYear 2022-03-31 00996247 core:NetGoodwill 2022-03-31 00996247 core:NetGoodwill 2023-03-31 00996247 core:LandBuildings 2022-03-31 00996247 core:PlantMachinery 2022-03-31 00996247 core:FurnitureFittingsToolsEquipment 2022-03-31 00996247 core:MotorVehicles 2022-03-31 00996247 core:LandBuildings 2023-03-31 00996247 core:PlantMachinery 2023-03-31 00996247 core:FurnitureFittingsToolsEquipment 2023-03-31 00996247 core:MotorVehicles 2023-03-31 00996247 core:LandBuildings 2022-04-01 2023-03-31 00996247 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 00996247 core:AfterOneYear 2023-03-31 00996247 core:AfterOneYear 2022-03-31 00996247 core:ShareCapital 2023-03-31 00996247 core:ShareCapital 2022-03-31 00996247 core:SharePremium 2023-03-31 00996247 core:SharePremium 2022-03-31 00996247 core:RetainedEarningsAccumulatedLosses 2023-03-31 00996247 core:RetainedEarningsAccumulatedLosses 2022-03-31 00996247 core:NetGoodwill 2022-04-01 2023-03-31 00996247 core:NetGoodwill 2022-03-31 00996247 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 00996247 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-03-31 00996247 core:Non-currentFinancialInstruments 2023-03-31 00996247 core:Non-currentFinancialInstruments 2022-03-31 00996247 core:LandBuildings 2022-03-31 00996247 core:PlantMachinery 2022-03-31 00996247 core:FurnitureFittingsToolsEquipment 2022-03-31 00996247 bus:SmallEntities 2022-04-01 2023-03-31 00996247 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 00996247 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 00996247 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00996247 bus:FullAccounts 2022-04-01 2023-03-31 00996247 bus:OrdinaryShareClass1 2023-03-31 00996247 bus:OrdinaryShareClass1 2022-03-31 00996247 bus:OrdinaryShareClass2 2023-03-31 00996247 bus:OrdinaryShareClass2 2022-03-31 00996247 bus:OrdinaryShareClass3 2023-03-31 00996247 bus:OrdinaryShareClass3 2022-03-31 00996247 bus:AllOrdinaryShares 2023-03-31 00996247 bus:AllOrdinaryShares 2022-03-31 00996247 core:LandBuildings core:LongLeaseholdAssets 2022-04-01 2023-03-31 00996247 core:FurnitureFittings 2022-04-01 2023-03-31

COMPANY REGISTRATION NUMBER: 00996247

Tollesbury Marina Limited

Filleted Unaudited Financial Statements

31 March 2023

Tollesbury Marina Limited

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£	£

Fixed assets

Intangible assets	5	99,458	116,508
Tangible assets	6	2,107,418	2,125,487
Investments	7	80	80
		------------	------------
		2,206,956	2,242,075

Current assets

Stocks		22,650	21,739
Debtors	8	88,065	69,803
Cash at bank and in hand		51,941	92,728
		---------	---------
		162,656	184,270

Creditors: amounts falling due within one year	9	469,724		471,422
		---------		---------
Net current liabilities			307,068		287,152
			------------		------------
Total assets less current liabilities			1,899,888		1,954,923

Creditors: amounts falling due after more than one year	10	578,109	628,954
		------------	------------
Net assets		1,321,779	1,325,969
		------------	------------

Capital and reserves

Called up share capital	11	950,250	950,250
Share premium account		571	571
Profit and loss account		370,958	375,148
		------------	------------
Shareholders funds		1,321,779	1,325,969
		------------	------------

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 income and retained earnings has not been delivered.

For the year ending 31 March 2023 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 2023

These financial statements were approved by the board of directors and authorised for issue on 18 December 2023 , 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 2023

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.

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	-	5-10% 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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a 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 29 (2022: 16 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2022 and 31 March 2023	170,500
	---------
Amortisation
At 1 April 2022	53,992
Charge for the year	17,050
	---------
At 31 March 2023	71,042
	---------
Carrying amount
At 31 March 2023	99,458
	---------
At 31 March 2022	116,508
	---------

6. Tangible assets

	Property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2022	2,129,689	131,935	110,171	9,540	2,381,335
Additions	9,558	7,901	12,838	–	30,297
	------------	---------	---------	-------	------------
At 31 March 2023	2,139,247	139,836	123,009	9,540	2,411,632
	------------	---------	---------	-------	------------
Depreciation
At 1 April 2022	107,834	60,007	78,467	9,540	255,848
Charge for the year	27,259	14,938	6,169	–	48,366
	------------	---------	---------	-------	------------
At 31 March 2023	135,093	74,945	84,636	9,540	304,214
	------------	---------	---------	-------	------------
Carrying amount
At 31 March 2023	2,004,154	64,891	38,373	–	2,107,418
	------------	---------	---------	-------	------------
At 31 March 2022	2,021,855	71,928	31,704	–	2,125,487
	------------	---------	---------	-------	------------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2022 and 31 March 2023	46,502
	--------
Impairment
At 1 April 2022 and 31 March 2023	46,422
	--------

Carrying amount
At 31 March 2023	80
	--------
At 31 March 2022	80
	--------

The company holds 76% of the ordinary share capital of Tollesbury Cruising Club Limited and 100% of the ordinary share capital of The Harbour View Tollesbury Limited and Woodrolfe Boatyard Limited.

8. Debtors

	2023	2022
	£	£
Trade debtors	84,325	67,825
Prepayments and accrued income	105	200
Other debtors	3,635	1,778
	--------	--------
	88,065	69,803
	--------	--------

9. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	51,199	51,159
Trade creditors	16,674	24,630
Amounts owed to group undertakings	32,600	42,600
Accruals and deferred income	22,877	25,834
Corporation tax	9,411	34,328
Social security and other taxes	40,638	21,381
Obligations under finance leases and hire purchase contracts	3,950	11,471
Director loan accounts	78,305	81,139
Other creditors	214,070	178,880
	---------	---------
	469,724	471,422
	---------	---------

Barclays bank Plc hold a charge over the assets of the company.

10. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	573,172	620,067
Obligations under finance leases and hire purchase contracts	4,937	8,887
	---------	---------
	578,109	628,954
	---------	---------

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 £387,037 (2022: £425,251) 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

	2023		2022
	No.	£	No.	£
Ordinary A shares of £ 1 each	1,249	1,249	1,249	1,249
Ordinary B shares of £ 1 each	1	1	1	1
Redeemable preference shares of £ 1 each	949,000	949,000	949,000	949,000
	---------	---------	---------	---------
	950,250	950,250	950,250	950,250
	---------	---------	---------	---------

Issued, called up and fully paid

	2023		2022
	No.	£	No.	£
Ordinary A shares of £ 1 each	1,249	1,249	1,249	1,249
Ordinary B shares of £ 1 each	1	1	1	1
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 (2022: £100) to Tollesbury Cruising Club Limited, a subsidiary undertaking. At the year end the company owed £32,500 (2022: £42,500) to TM Marina LLP a Limited Liability Partnership in which a subsidiary undertaking is a member. At the year end the company owed a director £78,305 (2022: £81,139) by way of a directors loan account.