Company Registration No. 09946509 (England and Wales)
Legend Sailing Limited
Unaudited accounts
for the year ended 31 March 2022
Legend Sailing Limited
Unaudited accounts
Contents
Legend Sailing Limited
Company Information
for the year ended 31 March 2022
Company Number
09946509 (England and Wales)
Registered Office
C/O My Tax Point
12 Nicholas Street
Chester
Cheshire
CH1 2NX
Accountants
My Tax Point
12 Nicholas Street
Chester
Cheshire
CH1 2NX
Legend Sailing Limited
Statement of financial position
as at 31 March 2022
Tangible assets
70,000
73,588
Cash at bank and in hand
1,196
2,782
Creditors: amounts falling due within one year
(163,804)
(162,163)
Net current liabilities
(162,169)
(158,651)
Net liabilities
(92,169)
(85,063)
Called up share capital
100
100
Profit and loss account
(92,269)
(85,163)
Shareholders' funds
(92,169)
(85,063)
For the year ending 31 March 2022 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 September 2022 and were signed on its behalf by
Mr R H Banim
Director
Company Registration No. 09946509
Legend Sailing Limited
Notes to the Accounts
for the year ended 31 March 2022
Legend Sailing Limited is a private company, limited by shares, registered in England and Wales, registration number 09946509. The registered office is C/O My Tax Point, 12 Nicholas Street, Chester, Cheshire, CH1 2NX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of value added tax and discounts, of work carried out in respect of services provided to customers
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% and 33.3% Straight Line
At the year end the company's liabilities exceeded its assets by £92,169 and as such the company's ability to continue to operate depends on the support of its Director. The Financial Statements have been prepared on a going concern basis as the Director intends to give his support for the foreseeable future.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Legend Sailing Limited
Notes to the Accounts
for the year ended 31 March 2022
4
Tangible fixed assets
Plant & machinery
5
Debtors: amounts falling due within one year
2022
2021
6
Creditors: amounts falling due within one year
2022
2021
Loans from directors
161,591
161,591
7
Average number of employees
During the year the average number of employees was 0 (2021: 0).