National Boat Shows, a subsidiary of British Marine Federation which hosts Southampton International Boat Show and London Afloat, made a profit after tax of £9,347 during the company’s latest financial period.
This compares to a loss after tax of £1,338,308 for the year ended 30 June 2022.
The company changed its accounting reference date to end on 31 December 2023, with the latest accounts to be published covering a period of 18 months.
The company has net liabilities of £1,671,679 as at 31 December 2023 with the accounts stating it is reliant on the group headed by its parent company, British Marine Federation for additional support to meet its liability requirements and fund the working capital required for the company to trade in the foreseeable future.
The company is also reliant on its overdraft facility as its management focus on reducing the reliance on the overdraft and rebuilding cash reserves.
The accounts state that £2,946,750 is owned to group undertakings for the period ended 31 December 2023 compared to £2,910,237 for the period ended 31 June 2022.
These are unsecured, interest free trading balances which the directors have been assured will not be recalled within 12 months if they have an adverse impact on the company’s ability to meet its payments as they fall due.
The accounts show debtors of £1,264,496 for the period to 31 December 2023 with £10,575 cash in the bank and at hand.
There was no income statement within the financial statements.
